Word on the streets in Las Vegas and in the art community is that Steve Wynn will be closing his art gallery at his new casino, Wynn Las Vegas.  Although it is still speculation, the rumor is that more valuable retail space is needed where the gallery currently sits (nearby live betting amidst a host of retail stores).

Steve Wynn is known as an avid fine-art collector, and was voted by ArtNews Magazine to be one of the Top 10 Collectors in the world.  The collection at Wynn Las Vegas Casino houses some well-known masterpieces, including Picasso's Le Reve - in tribute to the show "Le Reve" playing in one of the casinos theatre's near the casino betting floor.

Although no official statement has been made regarding a closing of the gallery, local prominent art collectors in Las Vegas have commented that they too have heard the rumor from reliable sources, and that it is likely Wynn will be taking his gallery elsewhere.  Most art fans are not shaken by the news, for they know how passionate Wynn is in supporting the arts community, in addition to his passion for betting.  With the closing, Wynn will likely be doing other things - perhaps building a gallery in another location.

Wynn's current collection is valued at over $300 million, with his most recent high-profile addition being that of Vermeer's "A Young Woman Seated at the Virginals".  He acquired it at a Sotheby's auction for $30 million.