The Wynn in Las Vegas Feels Recession

Some people say that they very rich cannot feel the recession because they just have so much money behind their name, the truth of the matter is that even the very wealthy are feeling the recession and the tough time in the economy and Steve Wynn happens to be in some of the worst financial situation that he has faced since the Wynn hotel has opened.

The Wynn hotel, resort and casino has just recently reported fourth quarter earnings from 2008, unfortunately it was only bad news, as they are experiencing losses to the tune of 159.6 million which works out to $1.49 per share for stock holders and investors.

The stock had an overall down turning year last year as the company lost 62% percent over the course of 2008. This was the most the company has lost in history.

While the news of losses continues to be heard throughout the financial voices, the hotel continues to operate as before, inviting guests to enjoy the most luxurious experience that they have yet to have by staying at this exquisite hotel and casino.

The company has also recently opened an even swankier place just next door which is a replica of the first tower called the Encore. The Encore was built and planned for prior to the recession and when Steve Wynn was asked about his plans to carry the project thru earlier last year he promised that it would continue as planned as that the Wynn towers would rise above the economy and bounce back given a little time.

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