Wynn’s Picasso no longer priceless
Billionaire casino mogul Steve Wynn, who owns both the Wynn and Bellagio in Las Vegas, put his elbow through his $139 million Picasso, driving the value down $54 million. Now, he wants the London-based insurer Lloyd’s to pick up the tab.
Wynn was showing off the painting to some high-powered friends in his Las Vegas office on Sept. 30 when he accidentally poked it, causing a small tear. It was “the world’s clumsiest and goofiest thing to do,” Wynn said afterward.
I’d say “the worlds clumsiest” is still an understatement, but at least now I know how the true ballers roll. Wynn has to be making millions a day and it’s nice to see that he’s mortal — a $54 million loss affects even him. According to my calculations, I’ll only have to gamble a thousand bucks 54,000 times untill Wynn makes his money back. Since his casinos have such high table minimums, it won’t take long …
