By Deena Beasley

LAS VEGAS, Dec 21 (Reuters) - Steve Wynn towers over the Las Vegas Strip in commercials for his new Encore resort, but the recessionary slump in business along the fabled gambling corridor could soon bring the casino mogul down to earth.

Wynn Resorts Ltd (WYNN.O: Quote, Profile, Research) is on Monday slated to open the $2.3 billion, 2,000-room Encore, a curved tower of bronze glass that nearly mirrors the adjacent Wynn Las Vegas, the company's three-year-old luxury casino hotel.

Meanwhile, shares of Wynn Resorts have fallen about 66 percent since February as the casino industry has grappled with tight credit markets and a downturn in gambling demand.

Encore will mark its debut at a time when crowds have thinned in Las Vegas, fewer private jets are rolling in and hoteliers are slashing rooms rates to attract as much foot traffic as possible.

"I've always opened up hotels in boom periods -- it is a fascinating moment to open a hotel in a market that's extremely tough," Wynn told Reuters in a recent interview.

But he was confident that Encore will be recognized for its "extraordinary attention to detail."

The casino magnate serves as chairman, chief executive and part owner of Wynn Resorts, which also operates a casino-hotel in China's Macau. His involvement in Las Vegas dates back to the late 1960s, when he invested in the Frontier Hotel.

Wynn subsequently took on the Golden Nugget in downtown Las Vegas and parlayed that profit into the multi-casino company named Mirage Resorts, which was acquired by MGM Grand in 2000.