As regular readers know, I think Steve Wynn’s quarterly conference calls are a great way to get a candid look inside the mind of the best hospitality operator in the business.  Although I don’t own WYNN stock (or the stock of any of his competitors), I still enjoy listening to his candor on the quarterly calls.  This call started out a bit boring, but some classic Wynn-isms later on made it worth recapping.  Let’s get to it (Transcript from Seeking Alpha):

Things in China are tough:

“The effects of the changes in China have had a negative effect on all of the top end business, whether that means retail top-end like Rolex and Louis Vuitton or whether we’re talking about the high-end gaming in junkets and the VIP sections.”

Wynn reached one of his milestones for Las Vegas though:

“In Las Vegas, I mentioned in our third quarter announcement that if we had a legitimate November, December, we’d be the first company to exceed $500 million in profitability probably not only in the history of Las Vegas, but also in America. And in fact, we did do $515 million in EBITDA in Las Vegas, which was encouraging and we’re very happy about that.”

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