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Joel_Stewart

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Water War. Wynn bids for Las Vegas Country Club
« on: June 23, 2004, 01:30:33 PM »
A buddy of mine called today to discuss Steve Wynns bid to buy the Las Vegas Country Club.  Wynn has offered every full member, $50k for their membership.  The course would be closed and the water rights would be used for Wynn to build a second tower at his new Las Vegas resort.  No word on what would happen to the land?
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Mike Hendren

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Re:Water War. Wynn bids for Las Vegas Country Club
« Reply #1 on: June 23, 2004, 01:52:01 PM »
Joel,

Without H2O, perhaps the USGA would be interested in holding a U. S. Open there.

Mike
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Two Corinthians walk into a bar ....

Bob_Huntley

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Re:Water War. Wynn bids for Las Vegas Country Club
« Reply #2 on: June 23, 2004, 01:54:12 PM »
Joel,

Who on earth would sell for such a price? I do not know how many members there are, but the land value must be enormous.
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bakerg

Re:Water War. Wynn bids for Las Vegas Country Club
« Reply #3 on: June 23, 2004, 04:31:54 PM »
Mike,

That made my day.  :)
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peter_p

Re:Water War. Wynn bids for Las Vegas Country Club
« Reply #4 on: June 23, 2004, 09:54:43 PM »
This is an article from the Las Vegas newspaper. Water rights were not mentioned. But Vegas officials are paying homeowners to convert lawns to desert at the rate equivalent to six golf courses per year.

http://www.hotel-online.com/News/2004_Jun_22/k.LVC.1087926022.html
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Joel_Stewart

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Re:Water War. Wynn bids for Las Vegas Country Club
« Reply #5 on: June 23, 2004, 10:55:17 PM »
Quote from: Bob_Huntley on June 23, 2004, 01:54:12 PM
Who on earth would sell for such a price? I do not know how many members there are, but the land value must be enormous.

I don't think the land is that expensive or valuable.  The course is not that great although its always green and lush.

I'm assuming the membership is fairly old.  For a few, $50k is pretty good money plus starting times for another 2 years it may be worth it?  Will 70% of the membership feel this way is the question.
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David_Tepper

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Re:Water War. Wynn bids for Las Vegas Country Club
« Reply #6 on: June 23, 2004, 11:27:00 PM »
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jg7236

Re:Water War. Wynn bids for Las Vegas Country Club
« Reply #7 on: June 24, 2004, 10:12:17 AM »
Sell, take that money and get a membership at a new course.  The golf course used to be the cream of the crop, now it is somewhat run down.  I am pretty sure Mr. Wynn will get what he wants, he always does, and anything he touches turns to gold.
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Mike Hendren

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Re:Water War. Wynn bids for Las Vegas Country Club
« Reply #8 on: June 24, 2004, 10:16:29 AM »
Hold the phones!  There's a Methodist Church in Las Vegas?

Two things I've learned about negotiations:

Never take the first offer.
"No" is a complete sentence.

Alternatively, how about throwing the club in for a piece of the deal?

Mike
« Last Edit: June 24, 2004, 10:17:31 AM by Mike_Hendren »
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Two Corinthians walk into a bar ....
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