Las Vegas Sun

March 4, 2024

Fortune names Wynn Resorts most admired company in hotel-casino industry

Wynn

Steve Marcus / File photo

The Encore is shown to the left of the Wynn Las Vegas on the Strip.

Click to enlarge photo

Steve Wynn

For the third consecutive year, Wynn Resorts Ltd. of Las Vegas is the most admired casino operator as ranked by Fortune magazine.

Fortune's annual list, based on surveys of industry participants and analysts, was released Thursday and it puts Wynn at No. 4 in the category of hotels, casinos and resorts.

Wynn ranked high in quality of products and services and innovation, with the company holding its own through the recession in the Las Vegas luxury market while CEO Steve Wynn continues to guide profitable operations -- and growth -- in Macau.

Marriott International, Hyatt Hotels and Starwood Hotels & Resorts topped the list of most admired companies in the hotels, casinos and resorts categories.

Trailing Wynn were Host Hotels & Resorts, Wyndham Worldwide, MGM Resorts International, Las Vegas Sands Corp., Accor and Caesars Entertainment Corp.

MGM Resorts, which ranked No. 5 on last year's list, had a rough 2010 with CityCenter opening in the worst recession in memory and controversies involving its Macau joint venture partner Pansy Ho.

Among the 10 companies ranked in its industry this year, MGM Resorts ranked No. 9 for global competitiveness and No. 8 for use of corporate assets. Its highest rankings, at No. 5, were for innovation and social responsibility.

With growing profits in Asia, Las Vegas Sands ranked No. 6 in the industry for global competitiveness but was ranked No. 9 for people management, social responsibility and quality of management.

Caesars' highest ranking among the 10 companies in its industry was at No. 8 for quality of management.

Two gaming companies that were ranked last year -- Penn National Gaming and Boyd Gaming -- don't show up on this year's list.

Fortunately for Las Vegas Sands and Boyd, neither showed up in the "least-admired" lists where they were ranked in 2010 -- Sands for social responsibility and Boyd in quality of products and services.

Fortune, for the fourth consecutive year, said technology giant Apple tops its list of the world's most admired companies.

To create its lists, Fortune and its survey partner identified the 10 largest companies in each industry and then asked executives, directors and analysts to rate companies in their own industry.

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