No, Encore is owned by Wynn Resorts, a publicly traded company. While Steve Wynn founded Wynn Resorts and was instrumental in the development of its properties, the direct ownership of Encore, along with its connected sister resort Wynn Las Vegas, rests with the corporation.
Understanding Encore's Ownership
Encore Las Vegas is a luxurious resort that operates as part of the larger Wynn Resorts portfolio. This corporation owns and manages a collection of high-end casinos and hotels globally.
- Corporate Ownership: Encore, along with Wynn Las Vegas, is owned by Wynn Resorts. This means that shareholders, not an individual, ultimately hold ownership stakes in the company and its assets.
- Location History: Both Encore and Wynn Las Vegas are situated on the former site of the iconic Desert Inn resort. Steve Wynn purchased and subsequently closed the Desert Inn in 2000, clearing the way for the construction of these modern luxury resorts.
The Role of Steve Wynn
Steve Wynn is renowned as a visionary developer and casino mogul who founded Wynn Resorts. His influence was critical in shaping the design, development, and operational philosophy of properties like Encore. However, his personal connection to the ownership changed when he divested his shares and resigned from Wynn Resorts in 2018.
Here's a breakdown of the key distinctions:
| Entity | Role Regarding Encore |
|---|---|
| Wynn Resorts | Current Owner and Operator of Encore Las Vegas |
| Steve Wynn | Founder of Wynn Resorts; Visionary Developer of the site |
How Public Companies Own Assets
When a property like Encore is owned by a publicly traded company such as Wynn Resorts, it means:
- Shareholder Investment: Ownership is distributed among various shareholders who purchase stock in the company.
- Corporate Governance: The company is managed by a board of directors and executive leadership, who make decisions on behalf of the shareholders.
- Legal Entity: The resort itself is a corporate asset, distinct from the personal assets of any individual founder or former CEO.
In summary, while Steve Wynn's legacy is intrinsically linked to Encore through its development and the establishment of Wynn Resorts, the property is currently owned by the corporation, Wynn Resorts.
