New Wynn Casino Faces Uphill Battle During Las Vegas Slump

Steve Wynn towers over the Las Vegas Strip in commercials for his new Encore resort, but the recessionary slump in business along the fabled gambling corridor could soon bring the casino mogul down to earth.

Wynn Resorts Ltd is on Monday slated to open the $2.3 billion, 2,000-room Encore, a curved tower of bronze glass that nearly mirrors the adjacent Wynn Las Vegas, the company's three-year-old luxury casino hotel.

Meanwhile, shares of Wynn Resorts have fallen about 66 percent since February as the casino industry has grappled with tight credit markets and a downturn in gambling demand.

For the complete story, please see Deena Beasley, New Wynn Casino faces unprecedented Las Vegas slump, London South East, December 21, 2008.