Question-and-Answer Session
Operator
(Operator Instructions) First in line is Joe Greff.
Joe Greff - JPMorgan
Steve, you touched upon the high-end business in Las Vegas. You didn’t quite say it this way but I’ll say it -- it has improved. Can you talk about the domestic high-end volume and the trends there? Have we seen a bottom and is that improving from what we know and from what we see -- I mean, international high-end has been pretty strong. And then Andrew, maybe you can just talk about how do next year group convention meetings look and even if you can touch on 2011. And then with city center opening up in less than a couple of months, how do you change the marketing or how do you change strategically the positioning of your properties, if at all? Thank you.
Steve Wynn
There you go, Andrew, you can try and wrangle that whole set of questions.
Andrew Pascal
Okay. So your first question, how is the domestic high-end business. We see it kind of trending as it has over the last six to nine months, so that is where we have experienced probably the most significant softening. To your point, the international business has held up well and I think we are a bit encouraged by what we have seen more recently but that high-end domestic business just has not yet returned.
As for the convention bookings going forward, I think that the dynamics of that business have changed just like every other segment. Booking windows have gotten far more compressed. We’ve been obviously very active out in the market. What we are hearing is that people are going to start putting back into their budgets their group and incentive travel but they are going to wait through the first quarter of next year to see how things further stabilize. And then they will start to release some of that money to spend in the second quarter and throughout the balance of the year.
So as of today, we haven’t really seen any material change in the rate of pick-up but we remain somewhat --
Steve Wynn
Excuse me, Andrew -- in the last couple of weeks, I’ve had two important cancellations. I’ve seen it still go the other way. Net Jet cancelled their big poker tournament and we had another one, so the intimidation factor in Las Vegas is still in play, unfortunately.
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