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Wynn pens high-tech deal

Jan 13, 2004 6:32 AM

In one of the consumer electronics industry’s largest and most celebrated deals, Wynn Resorts and Gateway, Inc. have struck a relationship that will establish the forthcoming Wynn Las Vegas resort as the standard setter for luxury hotel rooms outfitted with digital gear.

The new relationship calls for Gateway to supply approximately 7,000 customized Gateway-branded plasma and LCD TVs as well as hundreds of DVD players and other products at Wynn Las Vegas, a 2,698-room resort that is scheduled to open in April 2005 on the Las Vegas Strip.

Gateway and Wynn Las Vegas staff have been collaborating for months to customize products that will best accommodate the rooms — each of which is slated to be equipped with between two and four Gateway digital TVs, among other equipment.

This new relationship marks what is believed to be one of the largest-ever digital TV transactions and illustrates the extent to which Wynn Resorts continues to redefine global hospitality by setting a new standard for the use of digital technology.

"After speaking to every major consumer electronics company in the market, we chose to work with Gateway because of their superior products, their ability to customize them to our exact specifications and their excellent value," said Steve Wynn, the chairman and CEO of Wynn Resorts. "Gateway shares our commitment to knowing customers’ needs and exceeding them with products and services that provide an outstanding experience."

The 45-story, $2 billion Wynn Las Vegas resort is earmarked for the super-luxury end of the Las Vegas market. Built on approximately 192 acres at the former Desert Inn site, it will encompass a three-acre swimming pool and spa, 18 restaurants and the only 18-hole golf course on the Strip.

The state-of-the-art casino will feature about 120,000 square feet of gaming, plus there will be a full-service Ferrari and Maserati dealership.

The hotel will also house the art collection of Stephen and Elaine Wynn, which at various times has included works by such masters as Gauguin, Matisse, Cezanne, Van Gogh, Rembrandt and Picasso.

Wynn Resorts was formed after Wynn’s purchase of the Desert Inn in 2000. The company went public in 2002 in the largest initial capitalization of a gaming entertainment company.

Wynn Resorts’ efforts have been devoted mainly to the design, development, financing and construction of Wynn Las Vegas and Wynn Macau, but also to identifying growth opportunities such as the marketing alliance with Societe des Bains de Mer (which has a monopoly for gaming and hospitality in Monte Carlo, in the principality of Monaco) which the company entered into in June 2002.

The total capitalization of Wynn Resorts Limited is in excess of $2.3 billion.