Wynn Casino caters to top 10%

The Wynn Casino in Las Vegas and their sister casino in Maccau are doing extremely well due to the improving economy in the US and around the world and another factor that has many people concerned for many different reasons.

It turns out that the economic recovery for many people is not quite the same. The top 10% of the population has done very well. While the rest of us including the middle class has not recovered financially to the same extent. The top 10% of the population who are heavily invested in the stock market have reaped huge gains over the past 5 years. The market increasing in value by trillions and well over 100% from its low point.

The middle class has been lucky to have a job. They may not invest in the stock market. They have not been doing well. They are lucky if they have maintained their financial security. They have not achieved the asset gains that the rich have gained. They do not have the disposable money that the rich among us have. If you do not have a pension to rely on, you may not be doing so well financially. What does this have to do with the Wynn Casinos?

Wynn Casino – Performs Well

Well, it turns out that the Wynn casinos are outperforming all of the other Las Vegas Casinos since the top 10% of the population who have money are flocking to the Wynn in Las Vegas and spending their money in luxury restaurants and gaming activities. The middle class is going to the other hotels and they are not spending nearly as much money! As a result, these other locations are not performing financially as well as the Wynn Chain of hotels and casinos.

You really have to hand it to Steve Wynn who designed and built these hotels. Whether he saw this shift in demographics or not his properties are doing very well as a result and the rest of Las Vegas is not able to keep up. The unfortunate fact is that the middle class is getting squeezed, however, this is the subject of another post as some future time.