Wynn rated No. 1 among high-end customers

May 28, 2008 7:54 PM

by GT Staff & Wire Reports | High net-worth consumers rated Wynn Las Vegas the most prestigious luxury casino in the 2008 Luxury Brand Status Index (LBSI) survey from the independent New York City-based Luxury Institute.

Respondents who would recommend Wynn say, "It has a great golf course," is "very luxurious and comfortable" and "is plush and sophisticated."

Bellagio and Venetian in Las Vegas ranked second and third respectively.

"In difficult times for the gaming industry, wealthy consumers tell us that the competitive spirit of Steve Wynn has created a new standard for casinos in the U.S.," said Milton Pedraza, CEO of the Luxury Institute. "On its web site, Wynn says that it has been honored with several awards and ‘the next rating we look forward to is yours.’

"Well, Mr. Wynn, here it is direct from the voice of high net-worth consumers. It is our unwavering belief that while Wynn has been rated highly by organizations that give out stars and diamonds, the ratings that count most for a true luxury brand are those of high net-worth consumers. Our surveys are conducted with independent panels weighted to reflect national results with the results tabulated by external analytical experts. This ensures a level of objectivity that has earned us the trust of consumers, the industry and the media."

The proprietary Luxury Brand Status Index (LBSI) survey is the only measure of the prestige of leading brands among wealthy Americans. A national sample of 1,621 wealthy American consumers, with an average income of $348,000 and average net-worth of $3.6 million, was surveyed online.

Survey results are weighted to match demographic and net worth profiles of the same audience according to the latest Survey of Consumer Finances from The Federal Reserve.

Following are the 29 luxury casinos that were rated (alphabetical order):

1. Bally’s Atlantic City

2. Bally’s Las Vegas

3. Bellagio

4. Borgata Hotel Casino & Spa

5. Caesars Atlantic City

6. Caesars Palace Las Vegas

7. Foxwoods

8. Hard Rock Las Vegas

9. Harrah’s Atlantic City

10. Harrah’s Las Vegas

11. Las Vegas Hilton

12. Luxor

13. Mandalay Bay

14. MGM Grand Las Vegas

15. Mirage

16. Mohegan Sun

17. Monte Carlo

18. New York, New York

19. Palms Las Vegas

20. Paris

21. Planet Hollywood

22. Rio

23. TI (Treasure Island)

24. Tropicana Atlantic City

25. Trump Marina

26. Trump Plaza

27. Trump Taj Mahal

28. Venetian

29. Wynn

The Luxury Institute is the independent and impartial ratings, reviews and research institution that is the trusted and respected voice of the high net-worth consumer. The Institute provides a portfolio of proprietary publications and research that guides and educates high net-worth individuals and the companies that cater to them on leading edge trends, high net-worth consumer rankings and ratings of luxury brands, and best practices. The Luxury Institute also operates the Luxury Board (www.LuxuryBoard.com), the world’s first global, membership-based online community for luxury goods and services executives, professionals and entrepreneurs. For more information go to www.LuxuryInstitute.com.