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Wynn sees some stabilization in Las Vegas

Forbes,  Tuesday, April 28, 2009 at 5:23:18 PM

Steve Wynn, chief executive at Wynn Resorts Ltd sees "a little bit of stabilization" in Las Vegas, where the global recession has sent revenue down about 20 percent.

Wynn, speaking on Tuesday at the Milken Institute Global Conference, said visitors are still spending less and room rates are lower, but the percentage of occupied hotel rooms is back up in the 90s.

"The booking window has gotten longer. It had shortened radically," he said. "I see Las Vegas continuing to be resort destination for the world."

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