In the spirit of those who once traveled to the western parts of the United States to find their fortunes, the cosmopolitan city of Las Vegas was founded and developed by those who had entrepreneurial dispositions. The main attributes of those who created and put into action the original plans for casinos and hotels were a sharp business acumen, combined with a willingness to take risks that few people would have considered taking.
A hallmark of all entrepreneurial endeavors is that fortunes are made and lost. Those who are the most successful, like Steve Wynn, seem to have special skills for choosing winning combinations. They seem to know instinctively how much to risk, combined with a keen sense of the best ways to keep businesses profitable.
The Most Profitable Vegas Casinos Have Shared Traits
The most famous casinos and resorts in Las Vegas have certain traits that they share. One is a sense of smart, fashionable design. Hotels like the Wynn, Encore, Bellagio, Treasure Island and the Mirage all have their own unique ambiance. They also stay with a framework of classic and elegant design.
Another trait that sets Las Vegas hotels and casinos apart from other hotels are the individual themes represented within each resort. Each hotel and their respective casino has a unique flavor. Bellagio has stately and elegant decor, along with fountains that are choreographed to music and a creatively designed conservatory. Wynn and Encore are also elegant in their own ways, along with providing interesting, visually stunning attractions for their guests.
Entrepreneurs Often Chose To Renovate Instead Of Destroying Existing Buildings
Some of the hotels and casinos in Las Vegas were created around an existing framework instead of being torn completely down and reconstructed. This was the entrepreneurial way of creating expansion and development without the higher cost of leveling buildings and rebuilding them. Entrepreneurs like Mr. Wynn were especially skilled at choosing which hotels could be renovated and re-developed and which needed to come down to create an entirely new entity.
Many times, when a hotel was renovated and designed to feature brand new themes, this caused a series of ripple effects on the other businesses in the area. Wealth building and prosperity were often the direct results of intelligent business decisions. A great idea for a creative theme would attract more tourists to the area, along with the natural influx of more income into the community.
Choosing Outstanding Entertainment Led To More Success
The entertainment featured in each hotel and casino became a crucial part of their success. Cutting edge acts like the newly created Cirque du Soleil acrobatic shows quickly became premium attractions that added to the hotel and casino’s appeal. Other attractive, popular headlining entertainment could also lead to a larger draw of tourists, providing more income.
Traditional Vegas entertainment included acts like comedians, singers, choreographed dance lines featuring showgirls in flashy costumes, magicians, Broadway style shows, famous name bands and acrobatic shows. Unique abilities of these industrious entrepreneurs and of the highly qualified staff they hired to find and keep good entertainment acts could often lead to the hotel’s and casino’s success. Understanding the importance of featuring great entertainment kept many Las Vegas hotels and casinos running profitably in the toughest economic times.
