Winner Takes All: Steve Wynn, Kirk Kerkorian, Gary Loveman, and the Race to Own Las Vegas

by Christina Binkley

Wall Street Journal columnist Christina Binkley takes an up-close-and-personal look at how Steve Wynn, Kirk Kerkorian, and Dr. Gary Loveman are building a bigger and better Las Vegas and how their influence is spreading beyond the city's borders.

Genres: Business, Nonfiction, History, Finance, Biography

320 pages, Hardcover

First published January 1, 2008

Reviews

[Brenden Gallagher · Rating 3 out of 5]

I love Las Vegas history, and I particularly love stories of how the kitschy and ridiculous aspects of Vegas culture came to be. The time period covered in "Winner Take All" offers this in spades, as it covers the era of Vegas from the fall of the mob to just before present day. In the book, you get the details of the building of and development of attractions in every major casino currently on the strip except for Cosmo and Park MGM which opened after the time frame the book covers. Essentially, "Winner Take All" is about how Vegas went from a mobbed-up den of sin to a stock market darling with a family-friendly veneer of sin.

Though I love this era in Vegas history and I find the figures who drove its development ridiculously fascinating, this book doesn't quite live up to its promise. While the stories are spectacular, and in particular, the beat to beat of high-flying casino stock deals is riveting, Binkley's story is a bit scattered. While this is a fascinating time in Vegas history, Steve Wynn and Kirk Kerkorian aren't all the interesting as CEOs go, and the rollicking tone of the strip business gets watered down by personal anecdotes that disrupt the rhythm.

I see what Binkely tried to do by anchoring this story in the lives of three very different men. But, it just doesn't always hang together. The stories about the casinos themselves, and in particular the family-friendly but hard-nosed practicality of Harrah's vs. the sexy fantasy of Wynn's casinos, are great. But, the book itself is a bit unwieldy and unfocused.

Despite the imperfect writing, if you are as interested in the recent history of Las Vegas as I am, this book should click for you. But, if the subject matter doesn't jump out at you, this won't change that.

But, if you want to learn about the history of Vegas and the (mostly) men who drove it from the Luxor to the Bellagio, this is the book for you!

[Brian · Rating 5 out of 5]

Winner takes all provides a great look at the modern development of Las Vegas from the early 1990's through the opening of the Wyn Hotel and Resort in recent years. It is a detailed approach of the major players in the Kerkorian, Wynn and Harrah's group(Gary Loveman) that also focuses on the peripheral players except the Sands Corporation (Venetian). From the grandiose plans of Steve Wynn via Mirage, Treasure Island, and Bellagio to the coming of Kerkorian and rise of MGM Grand; Winner takes all provides an excellent overview of how these casino titans battled for supremacy in the desert sands. It is a great mix of whimsical story, financial analysis and business savvy that led to a place where fortunes are made and lost not only on the casino floor but in the hearts and minds of casino consumers. One of the most interesting plots is the story relating to Gary Loveman and the data driven Harrah's corporation that has taken scientific management to new heights. Overall for those who love to learn more about Las Vegas this is a great place to start and an excellent primer on the movers and shaker s that made Las Vegas into the town it is today. An excellent addition to any library.

[Kristine · Rating 3 out of 5]

This book would not be as interesting if you haven't seen Las Vegas in the past decade. The author gives an account of the three biggest players in the casino business - how they grew in wealth, which resorts they built/purchased, what they were like personally, and how the Las Vegas Strip changed because of them. It was mostly interesting, but at times I found myself bored with too much detail.

[Andrew · Rating 5 out of 5]

It reads like a novel about Vegas.

[Stephen Campbell · Rating 4 out of 5]

Great history of the mega growth years in Las Vegas.

[Gmendra Lau · Rating 5 out of 5]

WOOOOWWW GOOD BOOK!! LEARNT SO MUCH ABOUT LAS VEGAS!

[Alex Gruenenfelder · Rating 5 out of 5]

As it was published in 2008, this book has already aged a bit and has certainly missed some of the recent turns in careers of those in the book, but Christina Brinkley does a great job of analyzing the changes in Las Vegas in the late twentieth to early twenty-first century. Capturing Steve Wynn in particular, from his love of Disneyland to his longstanding history of controversy, this is a personal (if often glorified) tale of the assorted cast of characters who have made the gambling mecca of today what it is. This is not another book about the Mob, but one that focuses on the rise of the specialized highly-educated professionals who largely run the city today. Those who love the city of Las Vegas, the unincorporated community of Paradise, and are interested in learning more about the gambling and hospitality industries will likely find a lot to like here.

[E · Rating 4 out of 5]

Great read! Author was a WSJ writer who covered the gambling/casino sector for the paper for 5 years - so she gets pretty technical about Kerkorian's takover bids, etc. BUT - she makes it clear that the craziness behind the casino building is not about the consumers but more the crazy ego and mega moguls competing to run the show! Who knew that Steve Wynn is nearly blind? But goes over every material and visual detail of his casinos. I also love how she touches on the rise of the MBAs (she calls them propellerheads) analyzing data and maximizing profits in every angle of these firms. Fun great business type of book read. And the characters, are as expected, ridiculously fun to read about.

[Lisa · Rating 4 out of 5]

Las Vegas is like a second home to me since my grandparents moved out there, so I was very interested to read "Winner Takes All". I had no idea that Steve Wynn had such an influence on Las Vegas and built many of the hotels there, starting with the Mirage in 1993. From the 1990s to the mid 2000s, Steve Wynn was the "it" guy of Las Vegas. He brought class back to Las Vegas with hotels such as the Bellagio and his very own Wynn and Encore.

The recession of 2008 brought the decline of new hotels in Las Vegas and Wynn moved onto building hotels in Asia.

A fascinating read if you travel to Las Vegas often, or in the hospitality business.

[Davis · Rating 4 out of 5]

A fascinating book on the inside story of Las Vegas from the 1990s to 2005. Also provides short biographies on Wynn, Kerkorian, Loveman and a few other players in Las Vegas. Gives you an appreciation of the genius of Steve Wynn, who is virtually responsible for making Las Vegas what it is today. Kerkorian sums it up best, after buying out Mirage Resorts from Wynn but selling the Desert Inn to Wynn afterwards. Someone pointed out to Kerkorian that Wynn will build another hotel on the Desert Inn property. Kerkorian replied that this is exactly what he wanted Wynn to do.

[Kathy · Rating 3 out of 5]

Very interesting look at Wynn, Kerkorian, Loveman and their personalities and philosophies that created modern Las Vegas. Lots of insider info, you were there quotes as if you are witnessing conversations, etc. Written by Christina Binkley, a columnist for the WSJ who covered Las Vegas from 1997 until 2005. Says conversations quoted took place during her interviews, in her presence, or were relayed to her by the participants unless otherwise stated. No footnotes. Easy reading. I'm interested in Las Vegas, so I liked it. Probably wouldn't take it all as Gospel though.

[Noah · Rating 2 out of 5]

I pulled this off the Strand dollar-book shelf figuring that even though it was a trashy business story, I'd learn a few things about gambling and the madness that is Vegas along the way. Mostly, though, I ended up learning a little bit about how the pre-crash, pre-Spitzer stock market worked (badly) and how hostile takeovers happen, and then a lot more about the sartorial choices of the three casino execs. That said, Vegas can't help but appear throughout, and is there a better character?

[Patti · Rating 3 out of 5]

A glimpse into the big-wig world of Las Vegas casinos. Some of the people I've worked with directly, others are names in the news and on the street. Many of the antidotes have been around for years. Lots of meaningless fluff, such as the colors of shirts worn at meetings.
Taken with a grain of salt, it's an interesting read.

[Gabrielle · Rating 4 out of 5]

This book is written in a very easy to read leisurely style. It gives a nice concise look at how Las Vegas went from Sin City through their 'family-town' era and to their present 'What happens in Vegas stays in Vegas' motto. It also gives a fun look at the main characters and how they see the casino business. Overall, this was a fun and interesting read.

[Rissa · Rating 5 out of 5]

An excellent book. I love reading about Steve and Elaine Wynn and I didn't know too much about Kerkorian or Loveman so it was interesting to find out how Las Vegas became what it is today. I really loved the book, but it may not be as fascinating to those not in the hospitality industry (or at least interested in it).

[Paul · Rating 4 out of 5]

I read this book a few months back, quickly because I enjoyed it alot. It basically covers the building of modern Vegas and the primary competitors there including Wynn, Kerkorian, and Gary Loveman... Lots of business, personality, and feel for what it's like to be in that competive space and lifestyle. I love the entrepreneurial stuff.

[Fran · Rating 4 out of 5]

This is a modern history of Las Vegas, essentially starting with the building of the Mirage. It was very interesting and informative, with lots of anecdotes. Many of the events seem to have been actually witnessed by the author, which is cool. The only reason it didn't get 5 stars is because the format was kind of confusing, and the author jumped around a lot.

[Fritzov · Rating 4 out of 5]

A book about how Steve Wynn change Las Vegas forever - what is there not to like.

Spoiler:
The book was written before the financial crisis and there was no way for the author to foreseen the downfall of Las Vegas. Everybody fought Las Vegas was gonna keep growing for ever but apparently thats not what happen. The book is still great

[Andrew · Rating 4 out of 5]

Among the recent books covering the development of Las Vegas, this one ranks pretty high. At times, takes too much of a "business school" approach. The real story lies in the personalities and plans/visions. A few pots shots at Steve Wynn, but I guess that is to be expected.

[Terri Palermo · Rating 4 out of 5]

There was NO doubt I'd like this book, given my love of Las Vegas and all things Steve. Parts were difficult to read when my idol wasn't exactly seen in the rosy light of my eyes but that was more than made up for by recognizing things that were going on right when I was there!

[David · Rating 4 out of 5]

I don't know why, but I have a fascination with Las Vegas. I don't ever gamble but for some reason the city and its history draw my attention. For me, this was a fun book to read.

[Steve · Rating 4 out of 5]

Las Vegas has undergone a radical change in the last 20 years. Two people are mostly responsible. If you like visiting Vegas, you'll like this book.

[Zach · Rating 4 out of 5]

Very interesting.

If you love Las Vegas, you may enjoy this behind the scenes history of the redevelopment of the strip in the past twenty years.

[Josh · Rating 3 out of 5]

better than average

[Ryan Overall · Rating 4 out of 5]

Quite an interesting tale on the constantly changing landscape of las vegas. I thoroughly enjoyed this book.

[Farah · Rating 1 out of 5]

My brother really wanted me to read this, but I only got through five chapters before I had to stop from sheer boredom.

[Andrew Macdonald · Rating 3 out of 5]

? Pushed to finish book , jumped around a lot . Good Info , I guess I think not enough info about each person . Not on a timeline either. Would recommend but not highly.

[Ashley · Rating 3 out of 5]

The author mentioned Stanford and "Cardinals" in the same sentence. What kind of fact checking is that?!

[John Oswald · Rating 4 out of 5]

If you’ve ever been to Las Vegas, you’ll know the legends, the cliches, the madness. But just underneath the surface there’s a surprisingly rich local culture and a crazy history. Binkley had the Vegas beat for many years and this book wouldn’t have been possible without that level of proximity and dogged persistence to get behind the swagger and the braggadocio. The men and some women behind modern Vegas are totally larger than life - ambitious, ruthless and oddly caring too. But deeply, deeply flawed and in such a peculiar little bubble…. My only critique of this very fascinating book is just some of the continuity and expectation that the reader knows some of the backstory. But otherwise, a really good account of how Vegas became Vegas, and actually how much backstory there really is - how before the early 2000s it kinda looked like it was becoming a has-been backwater. Binkley lays bare the politics, policy decisions, boardroom fights, financial posturing and also the human, social underbelly of gambling (sorry, “gaming”!). Trump makes an appearance every now and again but this is not his America - this is Vegas. And the rules here are different. A cracking read.

[Graham Bates · Rating 3 out of 5]

While Binkley's book is very insightful and packed with drama, her bias against Steve Wynn and the rich who hobnob with him detracts from the authority Winner Takes All tries to exude and demotes it to a quasi-soap opera. Moving to Las Vegas the month Wynn was required to leave, I've grown interested in the history of the casinos I see in the skyline. Others have shown the good and bad and allowed the audience to judge people based on their character. Binkley couldn't help herself, insulting the women at fancy dinners and former President Trump while portraying certain characters as helpless victims even though they had been there the entire time as co-conspirators. It's worth a read if you're into the largest casino companies in Vegas, but it's told with a slant that detracts from it's greatness. While it's centered on Steve and Elaine Wynn, the inclusion of his greatest rivals (minus Sheldon Adelson) adds to the overall setting and provides an outside perspective that would be lacking had they been included only as bit-players.