Even Las Vegas is not safe from the perils of a drowning economy. The Wynn Resorts Ltd. Is one of the largest US casino companies by stock market value. In the fourth quarter The Wynn casino resort fell as It incurred a $98.8 million dollar tax expense. This Las Vegas casino resort suffered a net loss of $159.6 million, the equivalent of $1.49 a share. This is a significant change from its previous profit of $65.5 million (equal to 57 cents a share) just one year earlier. According to Bloomberg statistics 43 cents was the average profit, and the Wynn Resort missed the mark by approximately 37 cents.
Along with the drowning economy Las Vegas has seen its fair share of profit loss. The tourism of gambling and travel has seen fewer tourists making vacation getaway plans to try their luck in Las Vegas causing the room occupancy rates at the Wynn casino Resorts to fall. The revenue has declined 14 percent down to over $614 million. According to records, after a rise of 11 percent equaling $25.80 per share on the Nasdaq, it then plummeted 7.8 percent to close out the day.
According to billionaire Stephen Wynn, “Starting in October, we experienced a dramatic deceleration in business. The fourth quarter of 2008 was substantially worse than during the prior year as consumers chose to stay at home and significantly reduced their leisure budgets.”

Significant changes have now been made at the Casino resorts affecting a substantial number of employees. For the 2009 year, the Wynn resorts has cut ALL Las Vegas local salaried employees, reduced the hours for numerous others, and cut out the 2009 bonus and retirement matching savings in order to keep jobs within the company. This effective change is expected to save up to $100 million in annual costs this year. The tourism scene will continue to suffer as these cutbacks will likely effect the airline and hotel industry the hardest.

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