LAS VEGAS--(BUSINESS WIRE)--June 23, 2003--Wynn Resorts (Nasdaq: WYNN) announced today that it has decided to create a global brand name to identify its hotel/casino properties.
Since the formation of Wynn Resorts in the spring of 2000, the principle focus of the company has been the design and development of a new luxury resort hotel in Las Vegas known as Le Reve. In June 2002, the company was awarded a concession to develop a gaming resort in Macau, China. This past week the company entered into a global alliance with Societe des Bains de Mer (SBM), the company that has the exclusive rights to operate casinos in the Principality of Monaco.
With the expansion of business opportunities beyond Las Vegas, the company felt it was important to consider name identification and branding beyond a single property.
Peter Arnell of Arnell Group was hired to help create the brand image and identity for the Wynn Resorts properties. After extensive research it was determined that there is substantial recognition of the name "Wynn" in connection with resort properties that integrate gaming and entertainment facilities. A strong proponent for this idea, Mr. Arnell explains, "Everyone knows intuitively what the name Wynn stands for... it is a brand that already exists, but until now has remained behind the scenes. If ever there were a time to put a face on the Wynn name it would be now. It provides accountability for these exciting new ventures, as well as ensures the high standards of excellence known for Steve Wynn resorts."
The company owns the hotel and hospitality rights to the name Le Reve. It will be used in some context in the Las Vegas hotel. "In addition to being the name of the Picasso masterpiece that is the most significant painting in the Wynn Collection, the name has served as a wonderful creative influence in designing this hotel," said Steve Wynn. "Le Reve means 'the dream' and that's what this project has been for me and everyone working on it. Others have finally convinced me that the Wynn name would allow us to cross-market and offer a consistency of branding for all our properties, which at the present time would be Wynn Macau and Wynn Las Vegas."
Wynn Resorts, Limited, Las Vegas Shawn Cardinal, 702/733-4103
SOURCE: Wynn Resorts