you can’t wait to get the building finished you can have the cash flow I
finished you can have the cash flow I
finished you can have the cash flow I can’t promise to be right all the time
can’t promise to be right all the time
can’t promise to be right all the time oh my god Herbie I forgot the medicine
oh my god Herbie I forgot the medicine
oh my god Herbie I forgot the medicine bag you know each one of these places
bag you know each one of these places
bag you know each one of these places exists because of the things we learned
exists because of the things we learned
exists because of the things we learned before forget all about the movies in
before forget all about the movies in
before forget all about the movies in the Hollywood and the eye in the sky and
the Hollywood and the eye in the sky and
the Hollywood and the eye in the sky and the security you got to be able to do it
the security you got to be able to do it
the security you got to be able to do it up or down Wow I love that idea it’s fun
up or down Wow I love that idea it’s fun
up or down Wow I love that idea it’s fun to build hotels make money be successful
to build hotels make money be successful
to build hotels make money be successful get lucky but it has kept me a happy
get lucky but it has kept me a happy
get lucky but it has kept me a happy happy person we’re in the top three
happy person we’re in the top three
happy person we’re in the top three that’s a kid that’s a kicky thing to be
that’s a kid that’s a kicky thing to be
that’s a kid that’s a kicky thing to be able to do he’s an American business
able to do he’s an American business
able to do he’s an American business magnate he’s best known for his
magnate he’s best known for his
magnate he’s best known for his involvement in the luxury Casino and
involvement in the luxury Casino and
involvement in the luxury Casino and hotel industries in 2015 Forbes
hotel industries in 2015 Forbes
hotel industries in 2015 Forbes estimated his net worth a 2.4 billion
estimated his net worth a 2.4 billion
estimated his net worth a 2.4 billion dollars he’s Steve Wynn and here are his
dollars he’s Steve Wynn and here are his
dollars he’s Steve Wynn and here are his top ten goals for success people that
top ten goals for success people that
top ten goals for success people that build great things in any business
build great things in any business
build great things in any business anywhere they all have one thing in
anywhere they all have one thing in
anywhere they all have one thing in common they love the process if you
common they love the process if you
common they love the process if you start a building or a company because
start a building or a company because
start a building or a company because it’s money you can’t wait to get the
it’s money you can’t wait to get the
it’s money you can’t wait to get the building finished you can have the cash
building finished you can have the cash
building finished you can have the cash flow you’ll get the building finished
flow you’ll get the building finished
flow you’ll get the building finished and you’ll probably have the cash flow
and you’ll probably have the cash flow
and you’ll probably have the cash flow but if you love the idea of creating a
but if you love the idea of creating a
but if you love the idea of creating a building you love the process of solving
building you love the process of solving
building you love the process of solving the problems of digging into the details
the problems of digging into the details
the problems of digging into the details of tearing up the paper and over and
of tearing up the paper and over and
of tearing up the paper and over and over again revisiting a room a lobby a
over again revisiting a room a lobby a
over again revisiting a room a lobby a restaurant to get it so that it really
restaurant to get it so that it really
restaurant to get it so that it really feels good if you’ve got a passion for
feels good if you’ve got a passion for
feels good if you’ve got a passion for process you’re the kind of a person if
process you’re the kind of a person if
process you’re the kind of a person if you’re surrounded by good colleagues
you’re surrounded by good colleagues
you’re surrounded by good colleagues then that’s a team that produces
then that’s a team that produces
then that’s a team that produces superior projects and and all of us at
superior projects and and all of us at
superior projects and and all of us at Wynn Resorts we share that passion for
Wynn Resorts we share that passion for
Wynn Resorts we share that passion for the process of creating these places and
the process of creating these places and
the process of creating these places and so although we’d love the idea that they
so although we’d love the idea that they
so although we’d love the idea that they end up being profitable for our
end up being profitable for our
end up being profitable for our shareholders and it’s given us all a
shareholders and it’s given us all a
shareholders and it’s given us all a good life and I’m thankful for that I’m
good life and I’m thankful for that I’m
good life and I’m thankful for that I’m really thankful for the idea that I’m
really thankful for the idea that I’m
really thankful for the idea that I’m standing here today to walk you through
standing here today to walk you through
standing here today to walk you through another project that were dying to build
another project that were dying to build
another project that were dying to build in a fancy city like Boston
in a fancy city like Boston
in a fancy city like Boston entrepreneurs have an appetite for
entrepreneurs have an appetite for
entrepreneurs have an appetite for living uncomfortably that is a bit
living uncomfortably that is a bit
living uncomfortably that is a bit unusual truly living uncomfortably
unusual truly living uncomfortably
unusual truly living uncomfortably because when you get a close-up look at
because when you get a close-up look at
because when you get a close-up look at running your own business
running your own business
running your own business it’s scary however having said that I
it’s scary however having said that I
it’s scary however having said that I will also say that entrepreneurs who
will also say that entrepreneurs who
will also say that entrepreneurs who survive long enough to be interviewed by
survive long enough to be interviewed by
survive long enough to be interviewed by you are entrepreneurs who are not guys
you are entrepreneurs who are not guys
you are entrepreneurs who are not guys that fly without a net it’s one thing to
that fly without a net it’s one thing to
that fly without a net it’s one thing to be able to sustain risk and to live with
be able to sustain risk and to live with
be able to sustain risk and to live with a certain degree of uncertainty to rely
a certain degree of uncertainty to rely
a certain degree of uncertainty to rely on your judgment it’s quite another
on your judgment it’s quite another
on your judgment it’s quite another thing to be reckless when Michael
thing to be reckless when Michael
thing to be reckless when Michael Jackson asked me in an interview he did
Jackson asked me in an interview he did
Jackson asked me in an interview he did with me once when I introduced in the
with me once when I introduced in the
with me once when I introduced in the Siegfried and Roy you want to do an
Siegfried and Roy you want to do an
Siegfried and Roy you want to do an illusion for his thriller tour and I
illusion for his thriller tour and I
illusion for his thriller tour and I introduced NASA NAR I had shown him a
introduced NASA NAR I had shown him a
introduced NASA NAR I had shown him a tour of the Mirage just before it opened
tour of the Mirage just before it opened
tour of the Mirage just before it opened right he was amazed he said you get
right he was amazed he said you get
right he was amazed he said you get scared I said no but Huck with all that
scared I said no but Huck with all that
scared I said no but Huck with all that that thing that your bill guys look
that thing that your bill guys look
that thing that your bill guys look Michael before we broke ground we
Michael before we broke ground we
Michael before we broke ground we developed a business plan we examined
developed a business plan we examined
developed a business plan we examined re-examined re-examined again and again
re-examined re-examined again and again
re-examined re-examined again and again our fundamentals I said we raise five
our fundamentals I said we raise five
our fundamentals I said we raise five hundred twenty-five million with some of
hundred twenty-five million with some of
hundred twenty-five million with some of the toughest people in the world because
the toughest people in the world because
the toughest people in the world because our story was convincing by the time we
our story was convincing by the time we
our story was convincing by the time we broke ground Michael we were so sure of
broke ground Michael we were so sure of
broke ground Michael we were so sure of what we were doing that we did not think
what we were doing that we did not think
what we were doing that we did not think we were flying without a net or being a
we were flying without a net or being a
we were flying without a net or being a huge risk-taker and I said I think in
huge risk-taker and I said I think in
huge risk-taker and I said I think in answer to your question right I think at
answer to your question right I think at
answer to your question right I think at the end of the day you can live with the
the end of the day you can live with the
the end of the day you can live with the discomfort but you’re also self-critical
discomfort but you’re also self-critical
discomfort but you’re also self-critical and I speaking for myself and my
and I speaking for myself and my
and I speaking for myself and my colleagues we never risked the farm
colleagues we never risked the farm
colleagues we never risked the farm never risk the farm my responsibility of
never risk the farm my responsibility of
never risk the farm my responsibility of my employees my stockholders is such
my employees my stockholders is such
my employees my stockholders is such that I can’t promise to be right all the
that I can’t promise to be right all the
that I can’t promise to be right all the time
time
time no one can you make calls sometimes
no one can you make calls sometimes
no one can you make calls sometimes they’re right sometimes they’re wrong
they’re right sometimes they’re wrong
they’re right sometimes they’re wrong but capital structure allows you to
but capital structure allows you to
but capital structure allows you to survive the inevitable cycles of
survive the inevitable cycles of
survive the inevitable cycles of business I just go up and down as surely
business I just go up and down as surely
business I just go up and down as surely as sunrise and sunset except we don’t
as sunrise and sunset except we don’t
as sunrise and sunset except we don’t know the timing they allow you to
know the timing they allow you to
know the timing they allow you to survive your own miscalculation capital
survive your own miscalculation capital
survive your own miscalculation capital structure I learned at a young age
structure I learned at a young age
structure I learned at a young age thanks to Mike Milken
thanks to Mike Milken
thanks to Mike Milken tell me the story capital structure is
tell me the story capital structure is
tell me the story capital structure is everything and I’ve always had a capital
everything and I’ve always had a capital
everything and I’ve always had a capital structure that was bulletproof I know
structure that was bulletproof I know
structure that was bulletproof I know that if something is instantly
that if something is instantly
that if something is instantly gratifying it will be repeated all of us
gratifying it will be repeated all of us
gratifying it will be repeated all of us as adolescents remember that to be true
as adolescents remember that to be true
as adolescents remember that to be true anything that’s immediately gratifying
anything that’s immediately gratifying
anything that’s immediately gratifying will be repeated and the strongest force
will be repeated and the strongest force
will be repeated and the strongest force and the earth is something that affects
and the earth is something that affects
and the earth is something that affects your self-esteem if you can make someone
your self-esteem if you can make someone
your self-esteem if you can make someone feel good about themselves they will
feel good about themselves they will
feel good about themselves they will love you for it they will be loyal to
love you for it they will be loyal to
love you for it they will be loyal to you you talk about plugging into the
you you talk about plugging into the
you you talk about plugging into the energy inner interpersonal dynamics you
energy inner interpersonal dynamics you
energy inner interpersonal dynamics you you get to be responsible for another
you get to be responsible for another
you get to be responsible for another person feeling better about themselves
person feeling better about themselves
person feeling better about themselves and you’ve hit the jackpot
and you’ve hit the jackpot
and you’ve hit the jackpot that’s a dead-on bullseye in human
that’s a dead-on bullseye in human
that’s a dead-on bullseye in human relations so I said to myself those that
relations so I said to myself those that
relations so I said to myself those that idea is clear and self-evident every one
idea is clear and self-evident every one
idea is clear and self-evident every one of you in this room okay if I accept and
of you in this room okay if I accept and
of you in this room okay if I accept and you accept the idea that anything that’s
you accept the idea that anything that’s
you accept the idea that anything that’s instantly gratifying will be repeated I
instantly gratifying will be repeated I
instantly gratifying will be repeated I say to myself in the context of this
say to myself in the context of this
say to myself in the context of this building if I could get my employees
building if I could get my employees
building if I could get my employees one at a time to reach out and talk and
one at a time to reach out and talk and
one at a time to reach out and talk and engage guests on a very personal level
engage guests on a very personal level
engage guests on a very personal level not a dealer talking to a blackjack
not a dealer talking to a blackjack
not a dealer talking to a blackjack player but Annie talking to mr. Jones
player but Annie talking to mr. Jones
player but Annie talking to mr. Jones how are you today mr. Jones nice to see
how are you today mr. Jones nice to see
how are you today mr. Jones nice to see you again is there anything I could do
you again is there anything I could do
you again is there anything I could do for you you feel like playing blackjack
for you you feel like playing blackjack
for you you feel like playing blackjack this morning how’s your wife
this morning how’s your wife
this morning how’s your wife all of a sudden forget the crystal
all of a sudden forget the crystal
all of a sudden forget the crystal chandeliers and the hand-woven carpets
chandeliers and the hand-woven carpets
chandeliers and the hand-woven carpets and the marble it means nothing all of a
and the marble it means nothing all of a
and the marble it means nothing all of a sudden you’re engaged with someone who
sudden you’re engaged with someone who
sudden you’re engaged with someone who cares about you if I could arrange for
cares about you if I could arrange for
cares about you if I could arrange for my employees to find that gratifying and
my employees to find that gratifying and
my employees to find that gratifying and rewarding and increasing of their self
rewarding and increasing of their self
rewarding and increasing of their self esteem I would have plugged in to the
esteem I would have plugged in to the
esteem I would have plugged in to the magic of business and I finally with the
magic of business and I finally with the
magic of business and I finally with the help of some other people figured it out
help of some other people figured it out
help of some other people figured it out four five six years ago and it changed
four five six years ago and it changed
four five six years ago and it changed my business and changed my life it was a
my business and changed my life it was a
my business and changed my life it was a subject that I’m going to explain to you
subject that I’m going to explain to you
subject that I’m going to explain to you called storytelling
called storytelling
called storytelling we took 900 supervisors a twin and put
we took 900 supervisors a twin and put
we took 900 supervisors a twin and put him in school it took about three or
him in school it took about three or
him in school it took about three or four hours of training with some people
four hours of training with some people
four hours of training with some people from England and we explained to him
from England and we explained to him
from England and we explained to him that we had a structure in the company
that we had a structure in the company
that we had a structure in the company that was very convenient in every part
that was very convenient in every part
that was very convenient in every part of the hotel which runs as you know 24
of the hotel which runs as you know 24
of the hotel which runs as you know 24 hours a day we have a pre-shift meeting
hours a day we have a pre-shift meeting
hours a day we have a pre-shift meeting if it’s a restaurant just before the
if it’s a restaurant just before the
if it’s a restaurant just before the restaurant opens the maitre d or the
restaurant opens the maitre d or the
restaurant opens the maitre d or the manager meets with the waiters and has a
manager meets with the waiters and has a
manager meets with the waiters and has a 10-minute session the chef in the
10-minute session the chef in the
10-minute session the chef in the kitchen meets with his cooking line and
kitchen meets with his cooking line and
kitchen meets with his cooking line and has a session housekeepers on each floor
has a session housekeepers on each floor
has a session housekeepers on each floor meet with the in Spectra TSA’s that are
meet with the in Spectra TSA’s that are
meet with the in Spectra TSA’s that are the supervisors on each floor of the
the supervisors on each floor of the
the supervisors on each floor of the hotel department by department public
hotel department by department public
hotel department by department public area porters there are collections of 12
area porters there are collections of 12
area porters there are collections of 12 to 15 people or maybe as few as seven
to 15 people or maybe as few as seven
to 15 people or maybe as few as seven with a line supervisor who gives them
with a line supervisor who gives them
with a line supervisor who gives them whatever it is they need to learn that
whatever it is they need to learn that
whatever it is they need to learn that day before they start their shift we had
day before they start their shift we had
day before they start their shift we had a structure in place in the hotel that
a structure in place in the hotel that
a structure in place in the hotel that was very convenient but instead of
was very convenient but instead of
was very convenient but instead of giving them inane or ordinary or mundane
giving them inane or ordinary or mundane
giving them inane or ordinary or mundane information we changed the program to
information we changed the program to
information we changed the program to this the supervisor said to the group of
this the supervisor said to the group of
this the supervisor said to the group of eight or ten or twelve people has
eight or ten or twelve people has
eight or ten or twelve people has anybody got a story of something that
anybody got a story of something that
anybody got a story of something that happened yesterday or in the past week
happened yesterday or in the past week
happened yesterday or in the past week special with a guest and now I’m going
special with a guest and now I’m going
special with a guest and now I’m going to give you a true example bellman says
to give you a true example bellman says
to give you a true example bellman says that a Bell captain yeah yesterday I
that a Bell captain yeah yesterday I
that a Bell captain yeah yesterday I checked in a man and his wife older
checked in a man and his wife older
checked in a man and his wife older couple from California and the bags came
couple from California and the bags came
couple from California and the bags came in and I asked them to check and see if
in and I asked them to check and see if
in and I asked them to check and see if all the bags were there and the woman
all the bags were there and the woman
all the bags were there and the woman let out a hoot oh my god Herbie I forgot
let out a hoot oh my god Herbie I forgot
let out a hoot oh my god Herbie I forgot the medicine bag and that was a small
the medicine bag and that was a small
the medicine bag and that was a small hand case in which his medicine he was a
hand case in which his medicine he was a
hand case in which his medicine he was a diabetic and her medicine there were in
diabetic and her medicine there were in
diabetic and her medicine there were in their 70s were contained oh my god
their 70s were contained oh my god
their 70s were contained oh my god Herbie your insulin is in
Herbie your insulin is in
Herbie your insulin is in bag I left it on the front hall table
bag I left it on the front hall table
bag I left it on the front hall table when we got in the car oh my god what
when we got in the car oh my god what
when we got in the car oh my god what are we going to do we’ll have to go back
are we going to do we’ll have to go back
are we going to do we’ll have to go back I’ll call the airport
I’ll call the airport
I’ll call the airport bellman tells him he’ll captain I told
bellman tells him he’ll captain I told
bellman tells him he’ll captain I told him just a minute ma’am where do you
him just a minute ma’am where do you
him just a minute ma’am where do you live
live
live Pacific Palisades is there anybody at
Pacific Palisades is there anybody at
Pacific Palisades is there anybody at home at your house
home at your house
home at your house well our housekeepers there I have a
well our housekeepers there I have a
well our housekeepers there I have a brother that lives in Encino izzle it’s
brother that lives in Encino izzle it’s
brother that lives in Encino izzle it’s a Latino bellman my brother jefe lives
a Latino bellman my brother jefe lives
a Latino bellman my brother jefe lives in Encino why don’t I give him a call he
in Encino why don’t I give him a call he
in Encino why don’t I give him a call he can go over to your house and pick up
can go over to your house and pick up
can go over to your house and pick up the bag and we’ll manage to get it here
the bag and we’ll manage to get it here
the bag and we’ll manage to get it here for you when do you need the medicine it
for you when do you need the medicine it
for you when do you need the medicine it was three o’clock in the afternoon she
was three o’clock in the afternoon she
was three o’clock in the afternoon she says by 7:00 a.m. he says don’t you
says by 7:00 a.m. he says don’t you
says by 7:00 a.m. he says don’t you worry if you can get that lady on the
worry if you can get that lady on the
worry if you can get that lady on the phone tell her that a herve Mendez is
phone tell her that a herve Mendez is
phone tell her that a herve Mendez is coming and we’ll get it here at seven
coming and we’ll get it here at seven
coming and we’ll get it here at seven o’clock in the morning you can do that
o’clock in the morning you can do that
o’clock in the morning you can do that yes ma’am
yes ma’am
yes ma’am she calls he waits she calls tells the
she calls he waits she calls tells the
she calls he waits she calls tells the housekeeper is the bag there yes you
housekeeper is the bag there yes you
housekeeper is the bag there yes you left it on the front hall table Herve is
left it on the front hall table Herve is
left it on the front hall table Herve is coming to get it let him have it within
coming to get it let him have it within
coming to get it let him have it within the next hour okay bye you sure you can
the next hour okay bye you sure you can
the next hour okay bye you sure you can do it please lady enjoy dinner have a
do it please lady enjoy dinner have a
do it please lady enjoy dinner have a good time everything’s going to be fine
good time everything’s going to be fine
good time everything’s going to be fine I promise
I promise
I promise kit goes downstairs tells the bellman on
kit goes downstairs tells the bellman on
kit goes downstairs tells the bellman on duty that is supervisor that he’s got to
duty that is supervisor that he’s got to
duty that is supervisor that he’s got to go get the bag jumps into his car drives
go get the bag jumps into his car drives
go get the bag jumps into his car drives five hours to his brother’s house picks
five hours to his brother’s house picks
five hours to his brother’s house picks up the bag turns around and gets back to
up the bag turns around and gets back to
up the bag turns around and gets back to Las Vegas at 4:00 in the morning takes
Las Vegas at 4:00 in the morning takes
Las Vegas at 4:00 in the morning takes the bag to the bellman and says make
the bag to the bellman and says make
the bag to the bellman and says make sure this gets to room ten oh whatever
sure this gets to room ten oh whatever
sure this gets to room ten oh whatever it was by 7:00 a.m. it’s got the ladies
it was by 7:00 a.m. it’s got the ladies
it was by 7:00 a.m. it’s got the ladies medicine
I’m not done with the story the
I’m not done with the story the relevance of this story there’s a
relevance of this story there’s a
relevance of this story there’s a thousand of those a month the
thousand of those a month the
thousand of those a month the supervisors been trained everybody in
supervisors been trained everybody in
supervisors been trained everybody in the room says wow that’s great
the room says wow that’s great
the room says wow that’s great Mendez we have an internet loop special
Mendez we have an internet loop special
Mendez we have an internet loop special Internet’s thing in the hotel for the
Internet’s thing in the hotel for the
Internet’s thing in the hotel for the employees and we have a sign shop and we
employees and we have a sign shop and we
employees and we have a sign shop and we make signs for the back of the house
make signs for the back of the house
make signs for the back of the house immediately
immediately
immediately a picture is taken of that bellman
a picture is taken of that bellman
a picture is taken of that bellman Mendez his story is encapsulated in
Mendez his story is encapsulated in
Mendez his story is encapsulated in large print we make paper signs and we
large print we make paper signs and we
large print we make paper signs and we decorate the back of the house we
decorate the back of the house we
decorate the back of the house we publish Mendez’s picture and story on
publish Mendez’s picture and story on
publish Mendez’s picture and story on the internet and it’s all over the
the internet and it’s all over the
the internet and it’s all over the employees staff dining room and
employees staff dining room and
employees staff dining room and everybody is reading about this bellman
everybody is reading about this bellman
everybody is reading about this bellman who’s now a local hero and his chest is
who’s now a local hero and his chest is
who’s now a local hero and his chest is out to here and he’s taken a bow and he
out to here and he’s taken a bow and he
out to here and he’s taken a bow and he feels great because of the recognition
feels great because of the recognition
feels great because of the recognition he’s getting from his peer group now
he’s getting from his peer group now
he’s getting from his peer group now everybody else in the room with that
everybody else in the room with that
everybody else in the room with that bellman is looking for a story so they
bellman is looking for a story so they
bellman is looking for a story so they can tell it the next day we found we
can tell it the next day we found we
can tell it the next day we found we found a key we found a key to making a
found a key we found a key to making a
found a key we found a key to making a single employee acting with a single
single employee acting with a single
single employee acting with a single guest instantly gratifying and
guest instantly gratifying and
guest instantly gratifying and increasing of their self esteem now
increasing of their self esteem now
increasing of their self esteem now every employee in the hotel is looking
every employee in the hotel is looking
every employee in the hotel is looking for a story the dealers are on their way
for a story the dealers are on their way
for a story the dealers are on their way down the hall to take a break at the
down the hall to take a break at the
down the hall to take a break at the staff dining room and they see a lady
staff dining room and they see a lady
staff dining room and they see a lady and a man looking a little confused and
and a man looking a little confused and
and a man looking a little confused and they walk over and break and say you
they walk over and break and say you
they walk over and break and say you look like you’re looking for something
look like you’re looking for something
look like you’re looking for something can I help you and lace is what we’re
can I help you and lace is what we’re
can I help you and lace is what we’re looking for a meeting room called
looking for a meeting room called
looking for a meeting room called Lafitte oh that’s our ballroom you’re
Lafitte oh that’s our ballroom you’re
Lafitte oh that’s our ballroom you’re you’re standing here by the b-bar you
you’re standing here by the b-bar you
you’re standing here by the b-bar you have to go down past the wing lay the
have to go down past the wing lay the
have to go down past the wing lay the Chinese restaurant wait a minute come on
Chinese restaurant wait a minute come on
Chinese restaurant wait a minute come on with me I’ll take you and the dealer
with me I’ll take you and the dealer
with me I’ll take you and the dealer makes a detour for five minutes and
makes a detour for five minutes and
makes a detour for five minutes and takes this couple and shows them the
takes this couple and shows them the
takes this couple and shows them the Lafitte room you think that that hotel
Lafitte room you think that that hotel
Lafitte room you think that that hotel is ever going to be the same again
is ever going to be the same again
is ever going to be the same again to those two people or that lady and her
to those two people or that lady and her
to those two people or that lady and her husband with
husband with
husband with the insulin hell screw the chandeliers
the insulin hell screw the chandeliers
the insulin hell screw the chandeliers and again woven fabrics in the Onyx and
and again woven fabrics in the Onyx and
and again woven fabrics in the Onyx and the marble that means nothing they’re
the marble that means nothing they’re
the marble that means nothing they’re going to tell their friends what an
going to tell their friends what an
going to tell their friends what an incredible place my hotel is we’ve taken
incredible place my hotel is we’ve taken
incredible place my hotel is we’ve taken storytelling 24 hours a day seven days a
storytelling 24 hours a day seven days a
storytelling 24 hours a day seven days a week every day of the year to a great
week every day of the year to a great
week every day of the year to a great discipline in our company giving people
discipline in our company giving people
discipline in our company giving people recognition for doing the one thing that
recognition for doing the one thing that
recognition for doing the one thing that creates a franchise that’s strong
creates a franchise that’s strong
creates a franchise that’s strong stronger than anything I know about that
stronger than anything I know about that
stronger than anything I know about that applies to your business you’ve got to
applies to your business you’ve got to
applies to your business you’ve got to find those ideas that lift your staff
find those ideas that lift your staff
find those ideas that lift your staff make them feel great about themselves in
make them feel great about themselves in
make them feel great about themselves in the context of your business you do that
the context of your business you do that
the context of your business you do that and I tell you that the results will
and I tell you that the results will
and I tell you that the results will astound you first an idea and then a
astound you first an idea and then a
astound you first an idea and then a program first an idea and then a
program first an idea and then a
program first an idea and then a building it works every time you know
building it works every time you know
building it works every time you know each one of these places exists because
each one of these places exists because
each one of these places exists because of the things we’ve learned before you
of the things we’ve learned before you
of the things we’ve learned before you could not have had a Bellagio without a
could not have had a Bellagio without a
could not have had a Bellagio without a Mirage or a win without a Bellagio or an
Mirage or a win without a Bellagio or an
Mirage or a win without a Bellagio or an encore without a win we we try new ideas
encore without a win we we try new ideas
encore without a win we we try new ideas we creep along doing new things testing
we creep along doing new things testing
we creep along doing new things testing them out you know when we didn’t put
them out you know when we didn’t put
them out you know when we didn’t put everything around the casino at Wynn I
everything around the casino at Wynn I
everything around the casino at Wynn I was a little nervous before opening
was a little nervous before opening
was a little nervous before opening because it Bellagio everything was
because it Bellagio everything was
because it Bellagio everything was around the casino and you walked out of
around the casino and you walked out of
around the casino and you walked out of every restaurant into the slot machines
every restaurant into the slot machines
every restaurant into the slot machines here and when we didn’t do that we let
here and when we didn’t do that we let
here and when we didn’t do that we let people go discover the country club
people go discover the country club
people go discover the country club discover Alex discover Okada well they
discover Alex discover Okada well they
discover Alex discover Okada well they did and they appreciated the fact that
did and they appreciated the fact that
did and they appreciated the fact that not everything was around the casino
not everything was around the casino
not everything was around the casino that each place because of the mountain
that each place because of the mountain
that each place because of the mountain had its own environment not disturbed by
had its own environment not disturbed by
had its own environment not disturbed by the outside views here at encore we have
the outside views here at encore we have
the outside views here at encore we have taken advantage of that very same
taken advantage of that very same
taken advantage of that very same mentality and gone further in using
mentality and gone further in using
mentality and gone further in using natural light and gardens and plants
natural light and gardens and plants
natural light and gardens and plants every hotel I’ve ever built has been the
every hotel I’ve ever built has been the
every hotel I’ve ever built has been the highest-grossing casino in any city
highest-grossing casino in any city
highest-grossing casino in any city we’ve ever been
we’ve ever been
we’ve ever been period the largest amount of money ever
period the largest amount of money ever
period the largest amount of money ever won by a licensed casino in the state of
won by a licensed casino in the state of
won by a licensed casino in the state of Nevada when I built it was Mirage that
Nevada when I built it was Mirage that
Nevada when I built it was Mirage that record was broken when we built Bellagio
record was broken when we built Bellagio
record was broken when we built Bellagio and then the current record is held by
and then the current record is held by
and then the current record is held by Wynn Las Vegas seven hundred and seventy
Wynn Las Vegas seven hundred and seventy
Wynn Las Vegas seven hundred and seventy million dollars in casino revenue last
million dollars in casino revenue last
million dollars in casino revenue last year that was more than anybody else in
year that was more than anybody else in
year that was more than anybody else in the history of the state 170 odd million
the history of the state 170 odd million
the history of the state 170 odd million was slot machines 600 million was tables
was slot machines 600 million was tables
was slot machines 600 million was tables of the 600 million in tables fifty-two
of the 600 million in tables fifty-two
of the 600 million in tables fifty-two percent of it was from Asia 24 percent
percent of it was from Asia 24 percent
percent of it was from Asia 24 percent was from Latin America
was from Latin America
was from Latin America 24 percent was in the United States
24 percent was in the United States
24 percent was in the United States interesting huh
interesting huh
interesting huh 450 million out of 600 million was from
450 million out of 600 million was from
450 million out of 600 million was from outside the United States why are people
outside the United States why are people
outside the United States why are people from San Paulo Brazil Rio de Janeiro
from San Paulo Brazil Rio de Janeiro
from San Paulo Brazil Rio de Janeiro Buenos Aires Bogota Colombia Monterrey
Buenos Aires Bogota Colombia Monterrey
Buenos Aires Bogota Colombia Monterrey Mexico Mexico City these are where we
Mexico Mexico City these are where we
Mexico Mexico City these are where we have offices Hong Kong Taiwan Seoul
have offices Hong Kong Taiwan Seoul
have offices Hong Kong Taiwan Seoul Korea Tokyo and all over mainland China
Korea Tokyo and all over mainland China
Korea Tokyo and all over mainland China why do they get on airplanes fly over
why do they get on airplanes fly over
why do they get on airplanes fly over other casinos to come to Las Vegas
other casinos to come to Las Vegas
other casinos to come to Las Vegas because of the atmosphere because of
because of the atmosphere because of
because of the atmosphere because of wonderful service because of a great
wonderful service because of a great
wonderful service because of a great hotel staff because it’s fun to be there
hotel staff because it’s fun to be there
hotel staff because it’s fun to be there with the a gamble or you don’t and and
with the a gamble or you don’t and and
with the a gamble or you don’t and and although we broke the record at 770
although we broke the record at 770
although we broke the record at 770 million for a casino revenue for any
million for a casino revenue for any
million for a casino revenue for any licensee in the history of Nevada the
licensee in the history of Nevada the
licensee in the history of Nevada the non casino revenue was 860 million over
non casino revenue was 860 million over
non casino revenue was 860 million over half yup and it’s the 860 that made it
half yup and it’s the 860 that made it
half yup and it’s the 860 that made it possible for the 770 I’m going through
possible for the 770 I’m going through
possible for the 770 I’m going through all this with you all to explain to you
all this with you all to explain to you
all this with you all to explain to you our attitude why we do what we do and
our attitude why we do what we do and
our attitude why we do what we do and what really matters in our business and
what really matters in our business and
what really matters in our business and it’s two words and everything else is
it’s two words and everything else is
it’s two words and everything else is baloney forget all about the movies in
baloney forget all about the movies in
baloney forget all about the movies in the Hollywood and the eye in the sky and
the Hollywood and the eye in the sky and
the Hollywood and the eye in the sky and the security one thing one thing matters
the security one thing one thing matters
the security one thing one thing matters to the state of Massachusetts if it
to the state of Massachusetts if it
to the state of Massachusetts if it cares about revenue and jobs guest
cares about revenue and jobs guest
cares about revenue and jobs guest experience
experience
experience if people have a good time if they’re
if people have a good time if they’re
if people have a good time if they’re well served if they’re in an atmosphere
well served if they’re in an atmosphere
well served if they’re in an atmosphere that’s exciting and stimulating they
that’s exciting and stimulating they
that’s exciting and stimulating they come back again they’re willing to pay
come back again they’re willing to pay
come back again they’re willing to pay more money next year a little more than
more money next year a little more than
more money next year a little more than they paid this year so that we can cover
they paid this year so that we can cover
they paid this year so that we can cover the increasing cost of doing business
the increasing cost of doing business
the increasing cost of doing business unions need increases people want to get
unions need increases people want to get
unions need increases people want to get paid more money cost of living goes up
paid more money cost of living goes up
paid more money cost of living goes up you get a franchise because people have
you get a franchise because people have
you get a franchise because people have a good experience and when you give
a good experience and when you give
a good experience and when you give people a good experience
people a good experience
people a good experience they come from outside the region into
they come from outside the region into
they come from outside the region into the region and if you want to get people
the region and if you want to get people
the region and if you want to get people from over there to come over here you
from over there to come over here you
from over there to come over here you better build something here that’s
better build something here that’s
better build something here that’s better than there I don’t want to
better than there I don’t want to
better than there I don’t want to minimize the impact of economic business
minimize the impact of economic business
minimize the impact of economic business cycles on Las Vegas because there
cycles on Las Vegas because there
cycles on Las Vegas because there certainly is an impact no question about
certainly is an impact no question about
certainly is an impact no question about it
it
it we’re like the rest of the United States
we’re like the rest of the United States
we’re like the rest of the United States there’s a recession we feel it there’s a
there’s a recession we feel it there’s a
there’s a recession we feel it there’s a boom we feel it but if you’re a business
boom we feel it but if you’re a business
boom we feel it but if you’re a business executive and a manager like myself and
executive and a manager like myself and
executive and a manager like myself and my colleagues are that’s not really our
my colleagues are that’s not really our
my colleagues are that’s not really our issue our issue is to run the business
issue our issue is to run the business
issue our issue is to run the business to lead the staff good times or bad
to lead the staff good times or bad
to lead the staff good times or bad that’s what we get paid for and to a
that’s what we get paid for and to a
that’s what we get paid for and to a certain extent you can look upon these
certain extent you can look upon these
certain extent you can look upon these kinds of economic cycles as exercises
kinds of economic cycles as exercises
kinds of economic cycles as exercises you got to be able to do it up or down
you got to be able to do it up or down
you got to be able to do it up or down you know in the bright sunshine or a
you know in the bright sunshine or a
you know in the bright sunshine or a little in the shade you got to be able
little in the shade you got to be able
little in the shade you got to be able to do this the skills that we’ve
to do this the skills that we’ve
to do this the skills that we’ve developed and and the our ambitions are
developed and and the our ambitions are
developed and and the our ambitions are irrelevant to the economic conditions
irrelevant to the economic conditions
irrelevant to the economic conditions outside we have to react perhaps you
outside we have to react perhaps you
outside we have to react perhaps you know we’ll try you know when when it’s
know we’ll try you know when when it’s
know we’ll try you know when when it’s really booming we we enjoy higher levels
really booming we we enjoy higher levels
really booming we we enjoy higher levels of revenue we can maybe we’re a little
of revenue we can maybe we’re a little
of revenue we can maybe we’re a little bit freer with the payroll then we would
bit freer with the payroll then we would
bit freer with the payroll then we would be when times are tight but basically I
be when times are tight but basically I
be when times are tight but basically I don’t really care
don’t really care
don’t really care about short-term business cycles that
about short-term business cycles that
about short-term business cycles that doesn’t mean that I’m insensitive to
doesn’t mean that I’m insensitive to
doesn’t mean that I’m insensitive to them but that’s not my primary
them but that’s not my primary
them but that’s not my primary responsibility it’s to my guests through
responsibility it’s to my guests through
responsibility it’s to my guests through my staff so we’ll open the hotel exactly
my staff so we’ll open the hotel exactly
my staff so we’ll open the hotel exactly the way we would if this was the World’s
the way we would if this was the World’s
the way we would if this was the World’s Fair boom period exactly the same way
Fair boom period exactly the same way
Fair boom period exactly the same way we’ve got to be consistent with our
we’ve got to be consistent with our
we’ve got to be consistent with our staff and we got to be consistent with
staff and we got to be consistent with
staff and we got to be consistent with the public what keeps you hustling
the public what keeps you hustling
the public what keeps you hustling because I’m one of those rarely
because I’m one of those rarely
because I’m one of those rarely fortunate really lucky people who’s
fortunate really lucky people who’s
fortunate really lucky people who’s doing what he loves consequently I’ve
doing what he loves consequently I’ve
doing what he loves consequently I’ve never worked a day in my life I love
never worked a day in my life I love
never worked a day in my life I love what I’m doing I’m a student of creating
what I’m doing I’m a student of creating
what I’m doing I’m a student of creating spaces where people go whoa ah Wow
spaces where people go whoa ah Wow
spaces where people go whoa ah Wow I love that idea and and I’ve never been
I love that idea and and I’ve never been
I love that idea and and I’ve never been able to do it perfectly excuse me I
able to do it perfectly excuse me I
able to do it perfectly excuse me I always think I have to do one more hotel
always think I have to do one more hotel
always think I have to do one more hotel because maybe just maybe I’ll get it
because maybe just maybe I’ll get it
because maybe just maybe I’ll get it right the next time
right the next time
right the next time and that quest to keep doing it being a
and that quest to keep doing it being a
and that quest to keep doing it being a student of something that you love is
student of something that you love is
student of something that you love is the most fun a guy can have and I’ve
the most fun a guy can have and I’ve
the most fun a guy can have and I’ve been given the privilege of chasing this
been given the privilege of chasing this
been given the privilege of chasing this star to my heart’s content you know it’s
star to my heart’s content you know it’s
star to my heart’s content you know it’s fun to build hotels make money be
fun to build hotels make money be
fun to build hotels make money be successful get lucky in life but but
successful get lucky in life but but
successful get lucky in life but but let’s face it I have a friend the Dalai
let’s face it I have a friend the Dalai
let’s face it I have a friend the Dalai Lama and he said to me he said to me it
Lama and he said to me he said to me it
Lama and he said to me he said to me it was visiting and we were together and he
was visiting and we were together and he
was visiting and we were together and he said you know Steve you’ll find not as a
said you know Steve you’ll find not as a
said you know Steve you’ll find not as a moral imperative but as an observation
moral imperative but as an observation
moral imperative but as an observation as you live long enough and learn that
as you live long enough and learn that
as you live long enough and learn that the only true happiness in this life
the only true happiness in this life
the only true happiness in this life will be the certainty that you have made
will be the certainty that you have made
will be the certainty that you have made a better life for other people now I
a better life for other people now I
a better life for other people now I don’t in in the Dalai Lama’s words in
don’t in in the Dalai Lama’s words in
don’t in in the Dalai Lama’s words in his in his epistle mythology it’s not a
his in his epistle mythology it’s not a
his in his epistle mythology it’s not a moral imperative like your your
moral imperative like your your
moral imperative like your your brother’s keeper it’s an observation
brother’s keeper it’s an observation
brother’s keeper it’s an observation after the fact the true happiness and
after the fact the true happiness and
after the fact the true happiness and fulfillment comes only with the
fulfillment comes only with the
fulfillment comes only with the certainty that you felt other people
certainty that you felt other people
certainty that you felt other people lead a happy life my dad taught me that
lead a happy life my dad taught me that
lead a happy life my dad taught me that what you want to do is stick to simple
what you want to do is stick to simple
what you want to do is stick to simple ideas and I don’t know why Tony I don’t
ideas and I don’t know why Tony I don’t
ideas and I don’t know why Tony I don’t where when but ever since I was a kid
where when but ever since I was a kid
where when but ever since I was a kid the idea building something that would
the idea building something that would
the idea building something that would make people go WOW has struck me it’s
make people go WOW has struck me it’s
make people go WOW has struck me it’s just about the coolest thing in the
just about the coolest thing in the
just about the coolest thing in the world to do now it’s not saving lives in
world to do now it’s not saving lives in
world to do now it’s not saving lives in the real sense or doing something really
the real sense or doing something really
the real sense or doing something really noteworthy but it has kept me a happy
noteworthy but it has kept me a happy
noteworthy but it has kept me a happy happy person – newspaper hired an
happy person – newspaper hired an
happy person – newspaper hired an outside consulting firm to find out who
outside consulting firm to find out who
outside consulting firm to find out who the review-journal who was the best
the review-journal who was the best
the review-journal who was the best employer in town and they did this BIG’s
employer in town and they did this BIG’s
employer in town and they did this BIG’s interviews and they did a special Sunday
interviews and they did a special Sunday
interviews and they did a special Sunday section and we won and they and I didn’t
section and we won and they and I didn’t
section and we won and they and I didn’t know what’s going on until Mike Weaver
know what’s going on until Mike Weaver
know what’s going on until Mike Weaver called me up and told me and read me
called me up and told me and read me
called me up and told me and read me what the employee said ah with ecstasy
what the employee said ah with ecstasy
what the employee said ah with ecstasy this is the greatest place to work
this is the greatest place to work
this is the greatest place to work because they listen to you here if
because they listen to you here if
because they listen to you here if you’ve got a good idea they’ll don’t
you’ve got a good idea they’ll don’t
you’ve got a good idea they’ll don’t listen to you this is a great place to
listen to you this is a great place to
listen to you this is a great place to work as they’re sensitive to your family
work as they’re sensitive to your family
work as they’re sensitive to your family problems they work with when you have
problems they work with when you have
problems they work with when you have those problems this is the best job I’ve
those problems this is the best job I’ve
those problems this is the best job I’ve ever had in my life we’re the best this
ever had in my life we’re the best this
ever had in my life we’re the best this is the coolest place there was this deep
is the coolest place there was this deep
is the coolest place there was this deep pride at belonging to the team the
pride at belonging to the team the
pride at belonging to the team the family here in other words it wasn’t
family here in other words it wasn’t
family here in other words it wasn’t just the Onyx or the marble or the
just the Onyx or the marble or the
just the Onyx or the marble or the hand-woven carpets or the fancy
hand-woven carpets or the fancy
hand-woven carpets or the fancy chandeliers and reflected ceiling plans
chandeliers and reflected ceiling plans
chandeliers and reflected ceiling plans that are so expensive it was the living
that are so expensive it was the living
that are so expensive it was the living organism that is the family of staff and
organism that is the family of staff and
organism that is the family of staff and if you get all those things going on one
if you get all those things going on one
if you get all those things going on one time listen last thing I got to say by
time listen last thing I got to say by
time listen last thing I got to say by definition on this planet from Asia to
definition on this planet from Asia to
definition on this planet from Asia to Europe from Latin America to Canada
Europe from Latin America to Canada
Europe from Latin America to Canada there has to be a best whole place in
there has to be a best whole place in
there has to be a best whole place in the world to stay why can’t it be here
the world to stay why can’t it be here
the world to stay why can’t it be here maybe we’re the best hotel in the world
maybe we’re the best hotel in the world
maybe we’re the best hotel in the world maybe not for me to say but you know
maybe not for me to say but you know
maybe not for me to say but you know what from what I understand from anybody
what from what I understand from anybody
what from what I understand from anybody that’s ever taken and reviewed this
that’s ever taken and reviewed this
that’s ever taken and reviewed this objectively if we’re not it we’re in the
objectively if we’re not it we’re in the
objectively if we’re not it we’re in the top three that’s a that’s a kicky thing
top three that’s a that’s a kicky thing
top three that’s a that’s a kicky thing to be able to do thank you so much for
to be able to do thank you so much for
to be able to do thank you so much for watching I made this video because
watching I made this video because
watching I made this video because Fernando Vern Whelan asked me to hope I
Fernando Vern Whelan asked me to hope I
Fernando Vern Whelan asked me to hope I pronounced that properly so this is a
pronounced that properly so this is a
pronounced that properly so this is a famous entrepreneur that you want me to
famous entrepreneur that you want me to
famous entrepreneur that you want me to profile next leave it in the comments
profile next leave it in the comments
profile next leave it in the comments below and I’ll see what I can do I’d
below and I’ll see what I can do I’d
below and I’ll see what I can do I’d also love to know which of Steve wins
also love to know which of Steve wins
also love to know which of Steve wins ten rules meant the most to you leave it
ten rules meant the most to you leave it
ten rules meant the most to you leave it in the comments and I’ll join the
in the comments and I’ll join the
in the comments and I’ll join the discussion thank you so much for
discussion thank you so much for
discussion thank you so much for watching continue to believe and I’ll
watching continue to believe and I’ll
watching continue to believe and I’ll see you soon
”
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