Ended up at the Wynn Encore resort for Weekend getaway during the Christmas break in December 2017. Decided to checkout the iconic Wynn golf course.
Good thing I didn’t lug my Golf bag along for the Weekend. Learned from the bartender at the pro shop that Mr. Steve Wynn was out there playing golf that Saturday morning (maybe that is him in the background on 18th green) since it was the final weekend for the golf course!
Mr. Wynn had decided to convert the golf course into a new tower and lagoon entertainment complex.
Not too many takers at $500 a round I wondered. Then I read this article few days after the said weekend:
Only $5million annual revenue from $1.5 Billion worth property!
So obviously it doesn’t make sense for it to continue as a golf course.
Would need to charge $10,000 a round to generate atleast 10% ROA!!
The trend with millennial generation is to hangout with friends, socialize and shoot the breeze.
Like at top golf for example, which brings the bowling alley concept to Golf.
It appears Mr. Steve Wynn is about to create a new model for Las Vegas entertainment yet again.
Wonder what it will be…