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Case Bets: F'bleau, Adelson, Oscar

Posted At : July 17, 2009 12:03 PM | Posted By : D McKee
Related Categories: Macau,Fontainebleau,Pennsylvania,Don Barden,Sheldon Adelson,MGM Mirage,The Strip,Downtown,Oscar Goodman,Entertainment,Regulation,Movies

Whether it's the banks or the subcontractors, somebody's going to take a big screwing at Fontainebleau. That's the nub of a new lawsuit, whereby developer Jeffrey Soffer asserts that Turnberry West Construction (which he also owns) has superior repayment rights to those of the project's backers.

I believe this is called, "One hand washes the other." However, the legal issues involved make fascinating reading. Some new-to-Vegas casino developers have screwed the pooch and eventually come out smelling like roses (Sheldon Adelson, for one). I don't Soffer's going to make into that elite club. And you can forget about Big Bleau opening before July 1, 2010, at the very least.

Speaking of Sheldon ... results at his new Sands Bethlehem continue to disappoint. Adelson's tradition of half-assing his casino openings, dribbling the product onto the market, may finally be catching up with him. Marina Bay Sands should be the acid test of this managerial style. (Personally, I believe it's going to be Adelson's Waterloo, at least to the extent that the casino is expected to drive everything else.)

Sands Macao: Sheldon's best bet

Ironically, it was the comparatively "quick and dirty" Sands Macao, built for considerably less than any other Adelson casino, that has been his biggest hit. The cost-to-date of Sands Bethlehem, by the way, has been revised downward to $675 million (from $743 million), which ought to help the ROI numbers. However, early predictions that Sands Bethelehem was going to siphon business from the Philadelphia area were clearly unrealistic and should have been reported with greater skepticism.

Berzon: caped crusader

Truth, justice and the American way have one less champion in the Las Vegas area now that Pulitzer Prize-winning Alexandra Berzon has been hired by the Wall Street Journal. Good for Berzon, better still for the WSJ. But who will keep a gimlet eye on OSHA enforcement and the CityCenter clusterfuck now? (And she was moving into gaming coverage, too ... the prospect of a Berzon/Liz Benston/Rick Velotta trifecta would have dwarfed all other casino reportage in this burg.) With the loss of Berzon and editor Drex Heikes, the Las Vegas Sun is suddenly in a world of hurt.

Oscar gets whacked. Somebody's fantasy, anyway. (Were there any thumbless graffiti taggers in the house? Homeless advocates? Civil libertarians?) Hizzoner was the celeb-victim at the reopening of Marriage Can Be Murder in its new digs at Fitzgeralds. MCBM recently left the Four Queens and a good move it was, seeing as the 4Q is at risk of being evicted. Movie veteran Goodman (Casino) evidently forgot whatever he learned from The Master (aka Martin Scorcese) and didn't hit his "mark."

As for MCBM, a dinner-theatre show, I can't say it compared favorably with the ones we did at Grinnell Community Theater. I was the "juvenile lead" in several shows there and humbly submit that our gung-ho amateur troupe could have done better. Hey, we "killed" with Ten Nights in a Barroom. That thing could have run for six months, easily.

Comments (Comment Moderation is enabled. Your comment will not appear until approved.)
Kerr Mudgeon's Gravatar Can somebody review the Marriage Can Be Murder show in its new digs at Fitzgeralds?
I missed seeing it at the Four Queens, & I'd like to know if it is good at the Fitz.
# Posted By Kerr Mudgeon | 7/18/09 3:21 AM
David McKee's Gravatar I'll be covering it for WizardOfVegas.com ... if the MCBM folks ever send me the damn press kit.
# Posted By David McKee | 7/18/09 10:33 AM
Jeff in OKC's Gravatar I am not very familiar about the reporter job scene, so I am wondering if Berzon going to the WSJ is the journalistic equivalent of the Yankees signing another Cy Young winner?
# Posted By Jeff in OKC | 7/18/09 12:44 PM
David McKee's Gravatar Yeah, that'd about sum it up.
# Posted By David McKee | 7/18/09 10:25 PM
Kerr Mudgeon's Gravatar "journalistic equivalent of the Yankees signing another Cy Young winner?"
As long as he stays away from the editorial side of things. Danger is, it might be similar to leaving Cronkite's CVS News to go to Roger Ailes's Fox News.
# Posted By Kerr Mudgeon | 7/19/09 2:37 AM