This is the first in a two-part series on how Wynn Resorts, one of the world's biggest casino operators, pursued a deal to acquire land in Macau's Cotai Strip from a pair of Chinese businessmen.
In many ways, Stephen A. Wynn is synonymous with Las Vegas. The larger-than-life casino mogul was key to remaking the Las Vegas Strip from an organized crime-controlled backwater into a modern, family-friendly entertainment destination in the 1980s, with properties that include the American casino icons like the Bellagio and Treasure Island. In the Ocean’s 11 movie and its sequels, the Vegas tycoon, Terry Benedict, is loosely based on Wynn.
But in a strange twist, the career and legacy of Steve Wynn — now 80 years old — may end up being defined by Macau, the Chinese gambling capital, and Wynn's dealings with Beijing elite while doing business on the 12-square mile island.
An excerpt from the Department of Justice's complaint in the foreign agent suit against Steve Wynn.
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When China announced it was ending quarantine requirements for incoming travelers, Chinese people collectively picked up their phones to search popular travel apps like Ctrip and Qunar. Owned by travel giant Trip.com, these apps helped Chinese travelers explore the world pre-pandemic and facilitated the human-to-human interactions that drove China's rise. But many of today's travelers seem to be sticking closer to home, and their hesitation to get back to the jetsetting habits of the past 20 years has far-reaching implications — especially for Trip.com.
The professor talks about China's real estate bubble; if China can develop a modern financial system without rule of law; and why it's not China that is reshaping the global order, but the world's response...
