Unwin's interview on CNBC this morning

"New brand" "Residential feel" "Terraces allow an engagement with the strip"

"Five years, or three years, from now, the Cosmopolitan will be seen as the start of a new era"

Blah, blah, blah.

My take was that the only strategy is to steal Wynn/Encore's clients. Imagine starting a car company with a goal "to put Toyota out of business."

I don't think a card system that rates people on their hotel, shops, and dining spend, in addition to their wagering, is a significant development.

There was also a subtext that Douche Bank is more interested in the hotel side than the casino side, which is a bit disturbing. I think what happened here was the Douches saw an opportunity for a flip, nothing more. I doubt there's much there, in the end.

I saw that also and definitely see it as flip or better yet,just to get the hell outta there at a break even for themselves. DB got into the CC project wayyy more than they ever intended to. CC became a project that became "to big to fail". MGM came to the point of having to mothball the project ala' F-blue,or get more money. The dubai group(who also got in way more than they wanted to) and DB came up with the cash. Wouldn't surprise me if dubai is quietly getting out of CC if they can as well.

All IMHO,JOHN

For those unfamiliar with Mr. Unwin and the Deutsche Bank Casino on the Strip, there's informative background at a NYTimes website, including a quote from Mr Anthony Curtis himself.

Based on this article DonDiego was surprised to learn that Cantor Fitzgerald, investment powerhouse, has a gaming affiliate which offers services for sports books and "mobile-gaming" at several Las Vegas casinos.

I think DonDiego may find this article interesting and informative...



Wall Street Firm uses Algorithms to Make Sports Betting Like Stock Trading

Yeah, I just don't understand why DB is taking the approach they seem to be taking, make the hotel work and then get out. With that monstrous investment, and supposedly some of the best financial minds, they can't beat the gaming market, but they think they can make a hotel work? Defies logic, IMO.

My prediction: their high-end tenants will start defaulting, and that will be the beginning of the end. All that's really required is one nasty incident, like maybe a fire, that gives the hotel a bad rep, and it's over. Risky, risky business.