How Steve Wynn Found Wealth in Resorts and Casino

On January 27 in the year 1942, the man behind some of the most notable skyscrapers in Las Vegas, Nevada was born in Connecticut, United States. His name is Stephen Alan Wynn, the founder of Mirage Resorts and Wynn Resorts. According to, Steve has a net worth of $3.1 billion as of July, 2020.

Steve Wynn
Steve Wynn (Credit:

Steve was the son a Jewish owner of bingo parlors in Maryland, USA. He attended the University of Pennsylvania and graduated with a degree in English Literature. He enrolled at the Yale Law School but had to drop out in order to take over the heavily indebted family business due to his father’s death.

In 1967, Steve moved to Las Vegas, a fast rising entertainment city that was frequented by gamblers. Using some cash from his now-profitable bingo business, he purchased a hotel and casino. The following year, he acquired a company that was importing wine and liquors. Subsequently, he made land and gambling deals, eventually taking control of the landmark Golden Nuggets Casino. In 1980, he entered the booming Atlantic City gambling market by building a branch of the Golden Nuggets there.

In 1989, Steve made a high profile opening of his $630-million Mirage, the first luxurious resort to rise on Las Vegas Strip. It was mostly financed by bonds which were considered very risky at that time. He went on to build other opulent resorts such as the Treasure Island, Bellagio and the 1,835-room Beau Rivage in Mississippi. All of these hotels and resorts were under Mirage Resorts which was sold in 2000 for $6.6 billion.

In 2002, Steve founded Wynn Resorts which built the Wynn Las Vegas. Later, he won a contract to build a Wynn resort in Macau which was opened in 2006. After much delay, he finally started constructing his $2.1 Wynn Boston Harbor in 2016.

In 2018, several women accused him of sexual misconduct prompting him to resign as chairman and CEO of Wynn Resorts.

Steve has two children with his former wife Ellaine. His art collection is considered as one of the world’s largest.


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