• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

No Wynn Macau art personally held by Steve Wynn: firm

Apr 11, 2018 Newsdesk Latest News, Macau, Top of the deck  


No Wynn Macau art personally held by Steve Wynn: firm

None of the works of art displayed or kept at Wynn Macau Ltd’s two casino resorts in the city are either the personal property of former group chairman Steve Wynn, or of entities controlled by him, the company confirmed in an email to GGRAsia in response to our enquiry.

The company also affirmed that as such, there was no ground for the works’ removal from the properties following Mr Wynn’s February resignation from the Wynn Resorts Ltd group, amid allegations of sexual misconduct spanning decades.

Days before the launch of Wynn Palace in August 2016, Mr Wynn – frequently described in media reports as an avid collector of art – had stated at a media briefing in Macau that the total value of artworks on display at Wynn Palace was over US$100 million.

They included a set of four rare porcelain Qing-dynasty pieces known as the Buccleuch vases and a steel sculpture by Jeff Koons. The latter piece, titled “Tulips”, was purchased for US$33.7 million in a deal between Wynn Resorts (Macau) SA, a subsidiary of Wynn Macau, and Wynn Design and Development LLC, a unit of U.S.-based Wynn Resorts – the latter the parent company of Wynn Macau. The deal was announced in a June 2016 filing to the Hong Kong Stock Exchange.

According to Wynn Palace’s website, the property also has on display several French tapestries from the 18th century, and a monumental vase by U.S. ceramicist Viola Frey.

In a 1998 interview currently carried on the website of Observer Media in New York, Mr Wynn – then running Mirage Resorts Inc – said there were tax advantages in Nevada to buying art out-of-state and then publicly-displaying it in-state. The article also mentioned that in 1997, Mr Wynn had gained a licence as an art dealer.

On Tuesday this week Bloomberg reported – citing people familiar with the matter – that Mr Wynn was planning to sell several works by Andy Warhol and Pablo Picasso with an aggregate estimated value of more than US$150 million, via auctions in May with the Christie’s group.

Mr Wynn’s best-documented brush with the art world was in 2006, when reportedly he accidentally put his elbow through Pablo Picasso’s 1932 masterpiece “Le Rêve,” while showing it to visitors in Las Vegas. The act was said to have immediately knocked US$54 million off the US$139 million asking price he had planned to extract from a buyer. Mr Wynn and his insurers ended up settling out of court on a claim aimed at recouping the difference. In March 2013, it was reported Mr Wynn eventually sold the painting for US$155 million.


  • tweet
Related articles
  • Blackstone clinches US$6.15bln takeover of Crown Resorts
    Blackstone clinches US$6.15bln takeover...

    Jun 24, 2022  

  • Macau ops hail key step of revised gaming law passage
    Macau ops hail key step of revised...

    Jun 22, 2022  

More news
  • Only 2 Macau satellites closed as concessions extended
    Only 2 Macau satellites closed as...

    Jun 29, 2022  

  • LVS full recovery may take until 2024: Moody’s
    LVS full recovery may take until 2024:...

    Jun 29, 2022  


Latest News

Only 2 Macau satellites closed as concessions extended

Only 2 Macau satellites closed as concessions extended

Jun 29, 2022  

Only two of Macau’s 18 satellite casinos – the Rio Casino and the President Casino – have closed amid changes to the city’s regulatory system for such properties, and against...
Read More
LVS full recovery may take until 2024: Moody’s

LVS full recovery may take until 2024: Moody’s

Jun 29, 2022  

Satellite casino ops still to Dec 31 at Casa Real, Grandview

Satellite casino ops still to Dec 31 at Casa Real,

Jun 29, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

"There is still no clarity about when border easing for Macau will occur. In the end these changes are needed to see a rebound for Macau business"

Vitaly Umansky, Louis Li and Shirley Yang

Analysts at brokerage Sanford C. Bernstein



Most Popular

  • Macau casino Covid tests from Fri, ops pay for staff testsMacau casino Covid tests from Fri, ops pay for staff tests June 28, 2022
  • China quarantine easing good signal for Macau: analystsChina quarantine easing good signal for Macau: analysts June 29, 2022
  • SJM to make 2nd of pledged staff subsidy payments for 2022SJM to make 2nd of pledged staff subsidy payments for 2022 June 27, 2022
  • Moody’s confirms SJM Holdings’ ratings, negative outlookMoody’s confirms SJM Holdings’ ratings, negative… June 27, 2022
  • MGM China gets deal for use of MGM brands renewedMGM China gets deal for use of MGM brands renewed June 27, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us