Steve Wynn confident on govt’s ability to handle labor issues

Steve Wynn

American casino mogul Steve Wynn is confident about the local government’s ability to solve labor shortage issues, as the city faces increasing labor tensions. The chairman of Wynn Resorts said that until now his company has never experienced any hurdles when trying to find and hire both local and non-local employees.
Steve Wynn added that the Macau government’s desire to give employment priority to residents “is a normal and a rational request.” But if it comes to a point where operators are no longer able to fill casino dealer positions with local citizens, for instance, he is convinced that the government will find a proper solution.
“If we come to a point where we run out of dealers who are Macau citizens, the government is going to have to deal with that. Based upon what I have seen over the past 12 years, I cannot believe that the government won’t be able to deal with it successfully,” he said in a press conference yesterday.
He also recalled that his experience in Macau tells him that whenever the government grants a company a permit to build something, they want the building to be successful. “They’ve made a decision that they want that building here, and that it’s properly staffed. I hold that belief. I would be completely shocked if that wasn’t true,” he added.
On the other hand, he stressed that as new developments take shape in the Cotai Strip, it is important to understand how the government will respond to the labor shortage, calling for more certainty as operators spend billions on new resorts.
As labor tensions increase in Macau, with hundreds of casino workers protesting for higher wages and benefits, the casino tycoon said he understands why people are asking for more money, adding that he does not feel pressured by such demonstrations. “That’s a normal human response and I don’t feel any pressure from that. I respond to it in my own company. We were the leader in making our employees company’s shareholders, and raising their salaries,” he stated.
Claiming that his company’s culture relies on making employees feel good about themselves, Steve Wynn reiterated that 75 percent of Wynn’s staff is from Macau, and they have been granted promotions in the last six years, with the average wage going up by 40 percent in the last five and a half years.
The gaming mogul said he is not concerned about recent slumps in VIP revenue and the decline in revenue growth. He does not see China’s anti-graft campaign as the sole reason for the VIP revenue decline, since political uncertainty tends to play a role in economic activities, too.
During his talk with students yesterday, Wynn’s chairman told students that the secret to a successful business does not only rely on buildings but on people.
He believes that giving employees both responsibility and an opportunity to make them feel good about themselves will play a crucial role in keeping its labor force on the road to success.
Asked by a student about the skills one needs to develop to land a job in the hospitality industry, Steve Wynn said that anticipating the needs of guests or anticipating a problem and being able to act upon it are key requirements. “Real success happens when we have employees that think like a customer,” he said.

Wynn eyes Japan

As Japan is discussing the legalization of gambling, Steve Wynn said that his company is interested in investing there. “If the time comes when Japan is available, we will step up and bring our capital, creativity and imagination to the table. It depends on the deal in Japan, what do they want? Can we respond to them and stay true to our culture?” he said. Steve Wynn reiterated that business opportunities are in Asia and “we’re staying and loving it here,” adding that his company is more Asian than American.

CCAC concludes probe into Wynn’s Cotai land deal

Macau’s Commission Against Corruption (CCAC) has ended its investigation into Wynn’s local land deal in Cotai, Wynn Resorts’ chairman, Mr Steve Wynn, revealed yesterday. Last July, Macau’s corruption agency was examining a deal that would allow Wynn Resorts to acquire rights to the area of land where the operator is now building its Wynn Palace – on track to open in 2016.
“They were satisfied with the inspection (…) Everything about our land [can be found in] disclosures since 2006 and everything about those transactions is so crystal pure and clean, that you could drink it” Steve Wynn said in a press conference yesterday.
CCAC began investigating the case after the U.S-based International Union of Operating Engineers asked the Macau government for details on how a small company secured rights to the land, which was later bought by Wynn.