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Wynn Breaks Ground On Succession Plan

By Chuckmonster on Sunday, 3rd August 2014 10:07pm
  » filed under Las Vegas  comments: 4

   

Wynn Resorts Ltd. has granted CNN the opportunity to interview Steve Wynn's #2 Chief Operating Officer Linda Chen.

Ms. Chen delightfully pledges her respect and admiration of Steve Wynn and mentions his long career ahead when questioned about her being groomed for the top spot if and when Steve retires.

Interviews at this level - except with the media master himself - are thoroughly canned. The questions are prepped and swarms of PR people sit in on interviews ready to strike comments, check facts and provide answers should the interviewee step in it. Wynn knew that CNN was going to ask about Linda being "the new number 2."

Steve has proclaimed his undying admiration for Chen in the past, noting that Wynn Resorts "is a Chinese company" and mentioning that Ms. Chen would be his pick to succeed him as Chairman and CEO.

So what does this mean? FOR REALS? Why the introduction? Is there something we don't know? Is the Steve preparing us for the possibility that the unveiling of Wynn Palace will be his last as boss of his own company? Or is he laying the foundation for a flawless transition of power that will satisfy shareholders - primarily himself?

Which leads us to our next story, and question... shouldn't he have really spend his time training his nephew/protege Andrew Pascal to take over the family business?

Big thanks to VT reader/Vegas Gang listener @vegaspilgrim for the tweet tip.



Tagged: steve wynn   wynn resorts   linda chen   macau   business   





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Comments & Discussion:

I don't think Steve wants another family member to follow him. Perhaps they might do better. Face it, with every passing year ( and face lift) Steve's ego becomes more insufferable and his seductive voice playing in a can near you more nauseating.
He did some great things in Vegas. But now he is ego- tripping and I doubt he wants to be succeeded by family- if the enterprise continues to prosper it would mean that he was nog as special as he perceives himself to be.

Maybe he realizes the survival of gaming companies will rely on maintaining strong ties to countries in east Asia: Malaysia, China, Thailand, Japan, etc.

Though Wynn continues to seek new properties in the U.S. (Philly and Boston), he has to realize his namesake company will fare much better strengthing its position in China and Asia as a whole. It's a wise move, at least for the next decade, regardless of whether he's at the helm or if it's Linda Chen.

My money's still on Nick Hissom.

at :46 in the interview, the valet guy nearly snaps the door back into her face. I don't know why this amuses me so much.

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