Cynthia McFadden Interviews Hotel Mogul and Casino Developer Steve Wynn on "Nightline," September 26

Tuesday, September 25, 2007 -- In a rare television interview, billionaire hotel and casino developer Steve Wynn talks candidly to Cynthia McFadden on "Nightline" Wednesday night. Wynn, the man often credited with the expansion and resurgence of the Las Vegas Strip, shares his thoughts on everything from growing up with a father who was addicted to gambling to his passion for paintings. He offers viewers a glimpse of the infamous $139 million dollar Picasso he put his elbow through. He also discusses his latest hotel venture in a trendy new gambling hotspot, Macau, and his thoughts on longtime rival Donald Trump.

And Elaine Wynn, Steve's wife of 44 years and closest advisor, reveals the new Wynn diamond exclusively to Cynthia McFadden. The diamond is 231 carats -- the largest pear-cut diamond in the world -- and will be used to draw in visitors to their Macau hotel.

Excerpts from the interview are below. If you wish to use this material, you must credit ABC News "Nightline." "Nightline" is anchored by Cynthia McFadden, Terry Moran and Martin Bashir. James Goldston is executive producer. "Nightline" airs at 11:35 p.m. (ET/PT) weeknights on ABC.

On Picasso Incident:
Steve Wynn: I was backing up telling the story and I was talking about the history of Le Rêve, and I remember I was close to the picture and, as I turned to the right, my elbow hit Marie Thérèse Valter right below her elbow on her forearm and there was a popping, tearing, like shrink wrap [imitates the sound]. Everybody froze. I turned to my right, I was looking right at the tear and I said: 'OH MY GOD. I CAN'T BELIEVE I JUST DID THAT. Oh! [expletive]' and I looked at it -- they were frozen; nobody said a word. And I said: Thank God it was me and not anyone else.

Cynthia McFadden: Well thank God!

Steve Wynn: I said: Thank God it was me and not anyone else, and then I continued the story.

Cynthia McFadden: ...of the history of the painting???

Steve Wynn: Yeah. It's a painting. No one's child has died, no one's sick, no one's got Alzheimer's -- it's a painting, overpriced, a painting. But we'll fix it.

Cynthia McFadden: You have to be a very wealthy man to not fall on your knees crying on the floor at that moment, I think.

Steve Wynn: Over money? Nahhh...that's no reason to fall on your knees.

On New Macau Hotel:
Steve Wynn: The size of the Macau market is extraordinary in terms of money. What's not extraordinarily large is the amount of people coming to Macau. Macau is more like Atlantic City. There would be millions of people coming once or twice a year to Las Vegas. In Macau there might be 500,000 people coming 70 times. My best customers in Macau are there all the time. That's the way it was in Atlantic City. That is to say, the population of people that are going to Macau is small. The population that Macau serves is astronomical. The penetration of people in that huge market that are actually visiting Macau is a number that has been very small and is about to grow. And the future of that city will depend on that future widening.

On Wynn Diamond:
Cynthia McFadden: Is it bigger than the hope diamond?

Elaine Wynn: Yes.

Cynthia McFadden: It is?

Elaine Wynn: Yes.

Cynthia McFadden: It's the biggest diamond -

Elaine Wynn: It's the biggest ol' diamond that we know about and that we can get our hands on that is not in some institution -- you know, privately held. And you've seen it here for the first time -- you've had a sneak preview. This is a scoop for you!

On Donald Trump:
Steve Wynn: Of all the things in the world that you can ignore, it is what Donald Trump and I say about each other -- you could certainly forget that. That is the sound of fury signifying nothing.

Steve Wynn: He's a colorful, one-off personality. I think everyone in America would agree that there's no one like Donald Trump that we've ever seen before. It's doubtful that we'll ever see it again. He's bigger than life. He loves the role and the position he's made for himself. He enjoys creating this caricature, and he's benefited from it, and the more power to him for that.

Cynthia McFadden: So, fair to say that the two of you are cozy now?

Steve Wynn: Oh yeah. He's going to be our neighbor across the street. He brings a little [shows one-two punch]. Listen, wherever this guy goes, one thing about the Trumpster, he brings excitement, a lot of fanfare and ballyhoo. If you can't do that in Las Vegas, where in the hell can you do it? So, welcome to town Donald. It's nice to have you here. Stir up as much of a hornet's nest as you can.

Wynn On Politics:
Steve Wynn: I particularly enjoy Michael Bloomberg. He's a good friend of mine. I think he's an extraordinarily capable man and, whether its Mrs. Clinton, Barack Obama, Mitt Romney -- a businessman -- or Rudy Giuliani, who's a terrific guy, or Michael Bloomberg, what America needs is competent leadership, competent management; people that can attract people to government that are bright, that can solve problems.

Elaine Wynn on Politics:
Cynthia McFadden: Politics. You are very publicly supporting Barack Obama this election, one of three people in the state to really speak for him when he's not here; to represent him; to advocate for him. How did you come to your decision?

Elaine Wynn: I'm supporting him because I think he has the capacity for dynamic leadership. I think that he is intellectually gifted -- his background testifies to that. I want to get behind a candidate who can espouse certain things that I believe in, and express my moral support and get on the record and say: This is a guy, as far as he can go, is someone I can support.

Source: ABC

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