Steve Wynn fires Cy Waits!!!

[pennsttt]

From major nightclub owner to unemployed in a matter of two days---Some people are really stupid!

Sorry if this was already discussed or posted.

http://www.lasvegassun.com/blogs/kat...st-steve-wynn/

[busy]

Victor was a co-owner, who was recently bought out. In Wynn resorts last quaterly earnsing conference, which I listened into Mr. Wynn clearly stated that his nigghtclub partners share a percentage of the profits- that is now public record as are all shareholder calls per SEC regulations. XS and Trysts operations have also greatly helped the bottom line of the company's American operations.

[dnix]

General partner??? Aren't they just "employees"? How does a partner get fired? Sounds to me like another way to give someone a title without real substance, in order to make them feel important.

[busy]

This story is so amazing... Finally get promoted to the big leagues and choke barely a day later. Curious about the results from the blood test and how the two brothers will now work.

Does the dismissal nullify the non compete?

It should... but depends on the contract. You can fight that.

I'm surprised about the talk about the other brother, Jesse. Online articles / sources saying Wynn resorts will / are discussing his future. What did he do wrong? He was just promoted. They are twins... not a package deal. He's an individual. That can't fire him. Sounds like a possible wrongful termination lawsuit... but I can't see Wynn really doing that. I would be asking for some kind of buyout to move on.

But, I'll be the first to tell you never believe what you read / hear in the media.

I doubt they will fire him to and Nevada is not a right to work state so they can fire you for ANYTHING and they can't get sued.

Jesse has not been fired. He is still in place as a general partner and this has been confirmed via the Associatied Press. Jennifer "Dunne said Waits' twin brother, Jesse Waits, is continuing as general partner of the Wynn resorts' Tryst and XS clubs." Jennifer is the VP of PR for Wynn Resorts.

[justcole0516]

This story is so amazing... Finally get promoted to the big leagues and choke barely a day later. Curious about the results from the blood test and how the two brothers will now work.

Does the dismissal nullify the non compete?

It should... but depends on the contract. You can fight that.

I'm surprised about the talk about the other brother, Jesse. Online articles / sources saying Wynn resorts will / are discussing his future. What did he do wrong? He was just promoted. They are twins... not a package deal. He's an individual. That can't fire him. Sounds like a possible wrongful termination lawsuit... but I can't see Wynn really doing that. I would be asking for some kind of buyout to move on.

But, I'll be the first to tell you never believe what you read / hear in the media.

I doubt they will fire him to and Nevada is not a right to work state so they can fire you for ANYTHING and they can't get sued.

[busy]

Jesse will remain in place as General Partner of XS and Tryst.

[Andrew@LasVegasNightclubs]

Definitely an interesting situation.

It would be a huge blunder to quickly and completely change the team who have run those successful venues from the very start, or, at the very least, not to bring in someone who already works well with Steve Wynn and who knows what they are doing in the industry.

That said, there are really only two logical moves at this point: keep Jesse and the remaining team in tact or possibly talk to the neighboring team that runs Encore Beach / Surrender / Blush. If it came down to slowly working someone else in, then thats an option too.

XS and Tryst will do well either way because of national branding -- for a while, but there would definitely be a hit in the number of reservations and it takes a very specific minded team to be able to work with Wynn successfully under the confines of their branding.

[kimball]

This story is so amazing... Finally get promoted to the big leagues and choke barely a day later. Curious about the results from the blood test and how the two brothers will now work.

Does the dismissal nullify the non compete?

It should... but depends on the contract. You can fight that.

I'm surprised about the talk about the other brother, Jesse. Online articles / sources saying Wynn resorts will / are discussing his future. What did he do wrong? He was just promoted. They are twins... not a package deal. He's an individual. That can't fire him. Sounds like a possible wrongful termination lawsuit... but I can't see Wynn really doing that. I would be asking for some kind of buyout to move on.

But, I'll be the first to tell you never believe what you read / hear in the media.

[Opie]

This story is so amazing... Finally get promoted to the big leagues and choke barely a day later. Curious about the results from the blood test and how the two brothers will now work.

Does the dismissal nullify the non compete?

[NyceGuy]

http://dailyfiasco.com/2010/09/01/wy...sion-official/

Well that's that.

Wow, it says Paris Hilton isn't allowed on the property.

[KC2Vegas]

http://dailyfiasco.com/2010/09/01/wy...sion-official/

Well that's that.

[hug it out]

When i was parking at Wynn at 1015 on Friday, there was a traffic accident on the ramp of the self parking garage, i noticed 2 motorcycle cops and didn't think anything of it. I think those were the ones that busted them. I just cant believe none of us seen anything considering we were hanging out on the balcony all night.

I saw it live, after we couldn't add on to your cabana res. They wanted us to pay for GA, just the principle so we passed. Decided to go gambling, walked out of Wynn/Encore and passed a black Cadillac SUV and a few people commented that there was a girl that looked like Paris on the car. Cy was already on the street talking to the motorcycle cops and Paris was putting on her lip gloss.

As someone who has gotten to know both Jesse and Cy well over the years I have nothing but great things to say about them. If you know them they are very down to earth, grounded and hard working individuals who worked their way up through the trenches. Both brother are well skilled at what they do. It's incredibly unfortunate what transpired on Friday night. Despite reports that have been circulating- Jesse was clearly in place last night at XS. Additionally, no confirmation on Cy's status has been released from Wynn.

I want to second this, these are 2 very nice guys, not just to the people in the industry, but to the guests as well. I had a random client on table 201 in the lounge at drais (1 btl min) who went off to find girls. when he came back 20 mins later he showed me a card, it was jesse's. He had been on victors table (214) with jesse and some girls doing shots with the girls.

[philjuly]

As someone who has gotten to know both Jesse and Cy well over the years I have nothing but great things to say about them. If you know them they are very down to earth, grounded and hard working individuals who worked their way up through the trenches. Both brother are well skilled at what they do. It's incredibly unfortunate what transpired on Friday night. Despite reports that have been circulating- Jesse was clearly in place last night at XS. Additionally, no confirmation on Cy's status has been released from Wynn.

Through Cy's association with Hilton he is being portrayed in a less than favorable light. Though Cy now faces possible DUI charges, I have never seen Jesse or Cy even slightly inebriated and for that matter even seen them drink at work. Cy is a good person who has sadly become intertwined in an unfortunate situation.

100% agree. Sad to see this kind of thing happen. Hope it turns out better than it looks so far...

[novanoto]

that surely didn't take long .. guess that "friendly" tie cutting between drai and wynn wasn't as friendly as advertised

how so?