‘Old White Guy’ Casino Mogul Steve Wynn On ‘Millennial Morons’
Casino industry leader Steve Wynn doesn’t think much of millennials. But he’ll take their money.
Speaking to a crowd of 600 at a major gaming conference in LAS, Wynn expressed his frustration with millennial customers, but then remarked how his nightclubs generate $40 million in revenue a year.
“They (millennials) get older later so maybe when they’re about 60, we’ll have a chance to get some common sense out of them. In the meantime, we’re doing well with the little darlings in our nightclubs. It’s probably the only part of my business where I talk at a distance.
“I walk into the clubs and I say to myself, ‘Either we’ve attracted every moron in the world or there’s something about the sound that allows normal people to check their human sensibilities.’ Maybe it’s a combination of both.”
Wynn says it’s not a casino that makes a resort successful, but the non-gaming amenities and the people running the property.
“The pattern is this: Gaming is a passive activity. It has no value. One roulette table is exactly the same as every other damn roulette table. The driver of our business is the non-casino activity. The driver of our business is the experiential value,” Wynn said.
Wynn admitted a love/hate relationship with modern technology.
“Technology has improved our ability to track our customers and our employees,” he said. “I’m not sure that technology and social media are making young people any smarter. They seem to be living in a virtual world. So I’m not a big fan of Twitter or Facebook. I think probably more time is wasted, more dimwitted time spent on those devices. But then, I’m one of those old white guys,” he said.