Steve Wynn

Steve Wynn. Stephen Alan Weinberg, known professionally as Steve Wynn, is an American businessman and art collector renowned for transforming the Las Vegas Strip into a destination for luxury resorts and high-end entertainment. As the former chairman and CEO of Wynn Resorts, he developed iconic properties like The Mirage, Bellagio, and Wynn Las Vegas, fundamentally reshaping the city's economy and tourism landscape. His career has also been marked by significant involvement in the fine art world and numerous personal and legal controversies.

Early life and education

Born in New Haven, Connecticut, he is the son of Michael Weinberg, who operated a chain of bingo parlors. He attended the Manlius Pebble Hill School in New York before enrolling at the University of Pennsylvania. At the University of Pennsylvania, he studied cultural anthropology and was a member of the Sigma Alpha Mu fraternity. Following his father's death, he took over the family's bingo operation in Maryland, which provided his initial capital and entry into the gaming industry.

Career in casino development

His first major foray into Nevada gaming began with a stake in the Frontier Hotel and Casino in Las Vegas. He gained prominence after acquiring and renovating the dilapidated Golden Nugget downtown, transforming it into a luxury property. His visionary project, The Mirage, which opened in 1989 with financing from Michael Milken's junk bond market, introduced the modern mega-resort to the Las Vegas Strip, featuring a volcano and a white tiger habitat. He later developed the Bellagio, famed for its Fountains of Bellagio and fine art gallery, and sold his company, Mirage Resorts, to MGM Grand Inc. in 2000. He returned to develop Wynn Las Vegas and Encore under his new company, Wynn Resorts, and later expanded to Macau with Wynn Macau and Wynn Palace.

Art collection and philanthropy

A noted art collector, he has owned and sold masterpieces such as Pablo Picasso's *Le Rêve* and Vincent van Gogh's *Portrait of Dr. Gachet*. His collections have been displayed prominently in his resorts, including at the Bellagio Gallery of Fine Art. His philanthropic efforts have included substantial donations to the University of Pennsylvania, the Cleveland Clinic Lou Ruvo Center for Brain Health in Las Vegas, and the Smithsonian American Art Museum. He has served on boards for institutions like the Solomon R. Guggenheim Foundation and was a major fundraiser for the Democratic National Committee.

Controversies and legal issues

His career has been accompanied by significant controversies, including a 2000 dispute with fellow casino magnate Kirk Kerkorian that led to a defamation lawsuit. In 2006, he accidentally put his elbow through the canvas of Picasso's *Le Rêve* just before a planned sale. The most severe allegations emerged in 2018, with detailed reports in *The Wall Street Journal* accusing him of decades of sexual misconduct, which led to investigations by the Massachusetts Gaming Commission and the Nevada Gaming Control Board. He resigned as chairman and CEO of Wynn Resorts and later settled a case with the Nevada Gaming Control Board, paying a $20 million fine without admitting wrongdoing. The Securities and Exchange Commission also investigated the company's handling of the allegations.

Personal life

He married his first wife, Elaine Pascal, in 1963; the couple had two children, Kevin and Gillian, before divorcing in 1986. He married his second wife, Andrea Hissom, in 2011. He has been diagnosed with retinitis pigmentosa, a progressive eye disease that has significantly affected his vision. A longtime political donor, he served as finance chairman for the Republican National Committee in 2017 before resigning amid the misconduct allegations. He maintains residences in Las Vegas and Los Angeles.

Category:American businesspeople Category:American art collectors Category:Las Vegas