Steve Wynn had asked me not to air the audio of our recent conversation, but he gave me full permission to report the newsworthy stuff that we discussed in writing. I was going to use this sequence about Bette, Garth, Garth's plane, Beyonce and more in different blog posts, but it's so much fun I figured I'd just get out of the way and let the conversation speak for itself. The conversation took place on Nov. 24. Enjoy.
Friess: And when is Bette Midler starting at the Encore?
Wynn: Who? Bette Midler?
Friess: Sure, she’s leaving Caesars, she’ll want another gig.
Wynn: Is Bette leaving?
Friess: Yeah, she’s ending her contract at the end of January. You know that, don’t you?
Wynn: I did not know it.
Friess: Oh, OK. Well, she’s leaving Caesars at the end of January.
Wynn: Who’s taking her place?
Friess: They haven’t said anything yet. Right now the only person that have in there is Cher.
Wynn: Uh-huh.
Friess: So right now they’re out looking for people. And I’m sure you are, too. I’m sure you’re looking for other headliners to fill in for Garth.
Wynn: I only have certain names that I like.
Friess: And I assume Bette’s one of them.
Wynn: Uh, I didn’t know she was leaving until you just told me.
Friess: Can you share some of the other names?
Wynn: No. I don’t want to telegraph what we’re trying to do.
Friess: Well, I’ll tell you this. This idea of doing Garth as this intimate, unplugged thing is fascinating if you do it with other people, too.
Wynn: You can’t do it with other people, Steve. He is so unbelievable when he does it. He walks out with a guitar over his shoulder. The man’s voice, his ability to tell his story, he totally extemporizes. He’s funny, he’s talented, he talks about his history. He talks about Ricky Skaggs to Boz Skaggs, James Taylor to Bob Seger, Billy Joel to Elton John. He sings all their stuff. He does “Against The Wind” better than Seger does. Best thing I’ve seen since the Rat Pack.
Friess: I think somebody like Bette could do an unplugged set, too.
Wynn: I think Bette Midler can do anything she wants. I think she’s the most gifted girl. I think she’s fabulous.
Friess: And you’re gonna be on the phone with her in the next half hour.
Wynn [Laughing]: Well, you gave me the tip off. I’m gonna call her and ask her what she wants to do. And seeing Bette Midler in a 1,500-seat theater is a kick in the ass. To be that close to her?
Friess: I just think it’s a brilliant bit of counterprogramming to get these big stars to do these smaller, more intimate shows.
Wynn: I agree with you. The question is if I can get them to do it. I can’t pay them $500,000 a show. Can’t do it.
Friess: I need to ask you a very simple question about Garth. This idea that you’re buying him a plane. Are you buying him an actual physical plane and he keeps it?
Wynn: He keeps it.
Friess: And he takes it wherever he wants to go.
Wynn: It’s his airplane.
Friess: I’m trying to figure out – those are planes cost $20- or $30 million.
Wynn: This was a great market for airplanes, so it cost a little less. There are hundreds of airplanes for sale.
Friess: Did you buy the one Sarah Palin put on eBay?
Wynn: No, no. I bought him a beautiful Canadair 604. [Click here to see Garth's plane!-sf] It’s a big wide airplane it’s got almost a 4,000 mile range. It can take him anywhere he wants to go but it’s very comfortable. It’s as wide as a Global Express.
Friess: I just don’t understand the math behind this deal.
Wynn: I know. I know ya don’t and that’s because we won’t tell ya.
Friess: Well I understand that, but don’t you see why it would be puzzling? The expense of him and the ticket prices ... and I’ve calculated out the ticket values and I don’t see how you make money.
Wynn: If you take the ticket price and mutliply it by 60 shows at 1500 people a show and you take $125 a ticket and you say well, 'That won't work plus the cost of a jet.'
Friess: Am I wrong?
Wynn: No, you’re right.
Friess: So, how does it work?
Wynn [Laughing]: I don’t wanna tell ya.
Friess [Sighing]: OK.
Wynn: Let’s put it this way. When I got through with Beyonce, I was short. It didn’t work.
Friess: She didn’t really sell out, did she?
Wynn: Yes she did. Absolutely. 100 percent.
Friess: Oh, OK. And the tickets were more expensive.
Wynn: Yeah. But all I’m saying is, we made a terrific amount of money because of the casino. Remember, our only source of income is not the tickets. We have rooms, we have food, beverage and gambling
Friess: Well then I guess the question is, are the shows becoming a loss-leader again.
Wynn: In the case of Garth Brooks, for sure. I don’t mind telling you that.
Friess: Got it.
Wynn: But a loss leader against ticket sales, Steve.
Friess: That’s the old Vegas model then. Cheap entertainment to bring them in to use the other stuff.
Wynn: That’s right. And that’s what Garth is. That’s no secret.
Friess: So is this a function of the economy then?
Wynn: No, no, no, no. It’s a function of getting one of the great world-class performers to compromise so this can happen but even that compromise creates the situation you’re describing. Garth wanted to do this with me. He bent to it. He cooperated. Could Garth Brooks get more money somewhere else? Conceivably yes. But this was the biggest deal I’ve ever made in my life. But it was based upon the fact that I believe Garth Brooks is worth it, that he brings something to our hotel, to our enterprise, a soul, a warmth, a gift to my guests that leave saying that something special happened while they were here. Something they couldn’t see at Texas Stadium or at the Thomas and Mack Arena or Sam Boyd Stadium.
End scene.
