Business Wars The Birth of Vegas | Sharks In the Lobby | 5
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Aug 25, 2021 Explore the fading grip of the mob on Las Vegas as corporate power rises. Witness Steve Wynn's ambitious vision transform the Strip, shifting from underworld influence to legitimate business. Discover the groundbreaking deal with Caesars Palace that redefined the city and marked Wynn's ascent as a key player. The tragic MGM Grand fire catalyzes a new era of luxury, as competition from Atlantic City forces change. Dive into the rich history that shaped Las Vegas into the entertainment mecca it is today.
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Wynn's Early Vegas Lesson
- As a child, Steve Wynn visited a Las Vegas casino with his father and watched him lose all his money.
- This experience taught him a valuable lesson: it's better to be the house than to play against it.
Wynn Acquires Golden Nugget
- Wynn acquired the Golden Nugget from Jerome Zerowitz, a gangster whose license was not renewed.
- The Gaming Control Board favored Wynn and allowed him to maintain his out-of-state bingo business, creating a key precedent.
Corporate Bosses Push Out Mob
- Kerkorian and Wynn, unlike their predecessors, weren't reliant on mob funding.
- Their rise pushed out the mob, leaving gangsters fighting for smaller profits and resorting to desperate measures.
