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Steve Wynn: 'Nobody Likes Being Around Poor People'

Image: Steve Wynn: 'Nobody Likes Being Around Poor People'
Wynn Resorts Chairman and CEO Steve Wynn speaks at the Global Gaming Expo (G2E) 2014 at The Venetian Las Vegas on September 30, 2014 in Las Vegas, Nevada. (Ethan Miller/Getty Images)

By    |   Friday, 08 Apr 2016 11:39 AM

Steve Wynn, the billionaire founder of Wynn Resorts, is drawing fire for a comment about poor people made during a presentation to investors Wednesday.

"Rich people only like being around rich people," Wynn said, according to CNBC. "Nobody likes being around poor people, especially poor people."

The inflammatory words were part of Wynn’s explanation on creating an upscale environment that attracts everyone.

"This company caters to the top end of the gaming world," he said. "We're sort of Chanel or Louis Vuitton, to use the comparison, the metaphor of the retail business. But unlike Chanel and Louis Vuitton, we are able in our business to cater to all of the market. By making our standards so high . . . that everybody wants to be in the building."

"Or to put it in a more colloquial way, rich people only like being around rich people. Nobody likes being around poor people, especially poor people. So we try and make the place feel upscale for everyone. That is to say we cater to people who have discretion and judgment and we give them a choice and we are consistent in that."

Wynn recently unveiled a new design for a $2 billion casino resort in Everett, Massachusetts, The Boston Globe reported. Groundbreaking is on hold because of an appeal of the project’s environmental permit. The casino is expected to open in late 2018 at the earliest.

A Wynn spokesman defended the billionaire’s poor people comment on Friday in an email statement to the New York Daily News.

“Mr. Wynn's comment was made in the context of a discussion that the company creates luxurious resorts which have an aspirational appeal to a broad range of guests,” the rep wrote.

But the damage was seemingly done.








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Steve Wynn, the billionaire founder of Wynn Resorts, is drawing fire for a comment about poor people made during a presentation to investors Wednesday.
steve wynn, poor, people, comment
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2016-39-08
Friday, 08 Apr 2016 11:39 AM
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