Wynn Buys ‘Le Reve’

Casino magnate Steve Wynn is expected to purchase the “Le Reve” show from creator Franco Dragone for $16 million.

The sum was revealed in a Securities Exchange Commission filing June 6th. “Le Reve” is the headline show of the mogul’s newest mega-casino, Wynn Las Vegas. Wynn will use the purchase to add lights, lasers and perhaps more performers to the show.

“Le Reve” is performing in a specially built, 2,087-seat theatre in the round and cost $110 million to start up. However, according to Ingrid Jensen, marketing adviser for Dragone’s company, stiff competition prompted Wynn to “invest a significant amount of money” to make the show “bigger.”

“He’s talking about some visual effects with lasers and lighting and so forth,” Jensen said. “He wants to add in more choreography to bring in more artists. However, the baseline show stays as is.”

“Le Reve” debuted in May 2005 but was criticized because it was markedly similar to other shows on the Strip, including “O,” which was designed by Dragone. Production was temporarily trimmed from 10 to five shows a week while it was fine-tuned.

The musical “Hairspray” recently left the Luxor after four months due to poor ticket sales. Meanwhile, the Mirage is debuting “Love,” a Beatles-Cirque du Soleil production and, next to Wynn Las Vegas, The Venetian will open “Phantom – The Las Vegas Spectacular.”

Jensen said Wynn asked Dragone to personally make the changes to “Le Reve,” but Dragone was busy with other projects, including Montreal-based “Le Graal.”

“The degree of changes in terms of the technical level, et cetera, it’s not something that we can just casually do,” she said. “Franco Dragone would have to be based in Vegas for a significant period of time and we just can’t commit to that.”