Stephen Wynn is the Chairman of Wynn Resorts and mogul in Las Vegas business.
His father opened a bingo parlor in Las Vegas but was not able to get licensing and returned to Utica, New York. Steve Wynn attended military prep school and later graduated from University of Pennsylvania, spending weekends learning about his father’s bingo business. He met Elaine Paschal through one of his father’s friends and Steve and Elaine were married in 1963 before he graduated from college. They relocated to Las Vegas in 1967.
Upon arriving in Las Vegas, Wynn soon invested in the Frontier Hotel; but it was sold less than a year later. Wynn had made contact with Las Vegas Banker E. Barry Thomas. Thomas was impressed by the young Wynn and mentored his business career. Working with Thomas, Wynn took over the Golden Nugget and increased profits from $1.1 to $4.2 million. He used the profits to buy a hotel in Atlantic City, tore it down and built the New Jersey Golden Nugget. Throughout the late seventies and early eighties, Wynn participated in many successful real estate dealings. In 1984, Wynn’s estimated worth was $100 million. Mr. Wynn has always believed in strong family values and pioneered the casino-as-family vacation theme.
Wynn continued to invest in Las Vegas hotels and ultimately built and opened the Mirage in 1989 at a cost of $630 million. Other Mirage Resorts include Bellagio in Las Vegas and Beau Rivage in Mississippi.
Mr. Wynn sold Mirage resorts and now is Chairman of Wynn Resorts. He is currently building a new hotel in Las Vegas and another in Macao. Throughout his business career, Wynn has been an avid supporter of public service. One example of public service includes Mirage employees taking classes on site and receiving their high school diplomas. From that first endeavor, Mirage employees have become active supporters of community service. He has also been a major supporter of both the Democratic and Republican parties, making donations to candidates in local, state and national races