Title
Document Type
Research Paper
Abstract
Wynn Resorts, Ltd. ("Wynn Resorts"), established in 2002, is an international corporat ion, providing the luxurious casino resorts destinations in two areas: Las Vegas and Macau. A total of four properties offers casino and non-casino services including rooms, F&B, entertainment, meetings, retail outlets and otbers. The company generates approximately 70% of revenues from casino and Macau properties. The company sets up several subsidiaries to operate business more effectively and retains the most influential person, Steve Wynn, in the casino resorts business. The maturity of the casino resorts varies based on the region: the US market is in the mature stage and the Asian market is in the growth stage (IBIS World. 2011; Samadi. 2011: Wynn ResOl1s, Ltd" 20 11 a), Most of the general external environmental issues - global, environmental, economic, socia-cultural, political and legal issues - strongly affect the casino resorts, while demographic and technological issues do not strongly affect this business. Based on the business maturity and the nature of the casino resorts, the threat ofrivalry shows a moderately strong position and the threat of new entrants shows a moderate position. Also, the power of supplier and buyer does not strongly affect the casino resorts business, while the threat of substitutes shows a moderate position in this business. The company shows a strong position in product and price. However, a limited geographical distribution and generous promotion lead the company's overall marketing position to moderately strong. Also, an unfavorable solvency condition gives rise to the company's finance position as moderately strong. However, due to the renovation of the rooms, its short history, many awards, and various partnerships, Wynn Resorts shows strong in the physical and partnership position. A recent change of the president in Las Vegas properties, the lack of the successor of Mr. Wynn, and the reduction of the number of employees tum the company's organization and human resources position into moderate, but the company's innovative movement and a good reputation result in the company's current market position (Benston, 20 I I: Finnegan, 20 11; Wynn Resorts. Ltd., 201 Oe, 2011 a). Compared with two closest competitors, Las Vegas Sands Corp. and MOM Resorts International, Wynn Resorts shows a stronger position in product, price, the assets utilization and reputation, which are called distinctive competencies. Considering the sustainabi lity of the di stinctive competencies, only good reputation is said to be a sustainable competitive advantage (SCA) of the company. However, I believe that the reputation is very sensitive to be damaged, so that the company should be very careful to keep it sustainable in the long-term. In addition, from the above analysis, I conclude that Wynn Resorts is in a favorable position in the market (Las Vegas Sands Corp .. 201 1; MGM Resorts International, 20 11 ; Wynn Resort, Ltd., 20 11 a). From the beginning of the business, the company sticks to the global broad differentiation strategy and mainly implements the organic growth, along with forming several strategic alliances and ajoint-venture. The profitable financial performance, a good reputation. and the customers' perception to Wynn Resorts may prove that these strategies, which the company adopted, work effectively for the business success (.l inks, 20 11 ; Wynn Resorts, Ltd" 2003, 2004, 201Ia,201Ib). For the future success, I suggest that the company keep basic strategies, the global and the broad differentiation, aggressively expand its business through the organic growth and other partnerships. Also, the company needs to maintain the SCA. the reputation, more sustainable through executing the green movement and corporate social responsibility (CSR). Making organization more stable and strong is necessary for the business prosperity.
Repository Citation
Doh, Myung Ji, "Wynn Resorts, Ltd." (2011). MBA Student Scholarship. 3.
https://scholarsarchive.jwu.edu/mba_student/3
Citation/Publisher Attribution
Doh, M. (2011). Wynn resorts, ltd. Johnson & Wales University, Providence, RI.
Comments
A Research Project Submitted in Partial Fulfillment of the Requirements for the MBA Degree Course: HOSP6800 Hospitality and Tourism Business Policy and Strategy.