Wynn Resorts CEO Matt Maddox is leaving the building, effective Jan. 31. This shockeroo, which inspired a banner headline in the Las Vegas Review-Journal, was trundled out just minutes before the 3Q21 earnings call. Maddox will be succeeded by veteran CFO Craig Billings, who will have the experience and more than enough time for an orderly changeover. Given that former Encore Boston Harbor President Brian Gullbrants is now at the helm of Wynncore, one need not fear that the company will miss a step.

Maddox conceded that he got off to a “rough start” with some, inheriting his job under the cloud of the Steve Wynn sex scandal, “one of the messiest transitions in corporate history.” He didn’t impress us in the early going but proved a steady and proactive leader during the Covid-19 pandemic. Gaming analysts gave rave reviews to both Maddox and Billings, predicting a bright future for Wynn Resorts. As one penned, “barring conspiracy theories around the departure of Mr. Maddox, most notably the implications for the Macau process, of which we think there are virtually none, we expect a smooth transition.”

Richmond voters narrowly chose to cut off their nose to spite their face, voting 51.5% against the Urban One casino proposal. Since casinos were approved by at least 65% in four other Virginia cities in 2020, the resounding question is “Why?” True, an endorsement of Urban One by unpopular gubernatorial candidate Terry McAuliffe (D) probably didn’t help. His victorious opponent, casino investor Glenn Youngkin (R) kept mum on the issue. Although adversaries of Urban One were outspent 10-1, they had the benefit of a wall of NIMBY sentiment at their backs. They were also accused of stoking racial animus and with Urban One polling poorly in predominantly white areas that strategy, if deliberate, may have worked. As of this morning, the casino industry—at least in the private sector—remains an all-white-ownership province.

Or is it three? In the end, Chicago Mayor Lori Lightfoot (D) drew one heavyweight contender for the Windy City casino and a pair of middleweights. Two of the applicants made parlay bids, so the city could crow that it had “five” bidders for the high-tax concession. But despite Lightfoot’s stated aspiration of a Vegas-quality casino, none of the finalists has a Las Vegas return address. Obviously experiencing remorse for having sold its majority stake in Rivers Casino Des Plaines, politically connected Rush Street Gaming is back with two proposals: Rivers Chicago at McCormick and Rivers 78 Gaming. Also dibbing two sites was Bally’s Corp., while the lone heavyweight, Hard Rock International, would manage HR Chicago. None of the no-name bidders turned in paperwork, when it once looked as though they would be all Lightfoot had left.

The billion-dollar resort has yet to be sited, which will be an important factor in the selection processs. The winner also gets slot routes at the city’s two major airports. The casino will need to be a success right out of the chute, given its $160 million-$200 million annual tax liability. Two of the contenders, Rush Street and Bally, are eyeing McCormick Place, which would provide synergy with conventions and expos. Rush Street’s fallback position is a former railroad yard (blah!) in south Chicago, while Bally’s also covets the former Chicago Tribune printing plant. “It would become our flagship.” Bally’s Chairman Soo Kim said of Chi-town casino. On the other side of the coin is non-bidder Bill Hornbuckle, CEO of MGM Resorts International, who maintains, “It’s a struggle how it all adds up.”