A bomb just went off under Steve Wynn‘s $1.3 billion casino project in Everett. Multiple felon Charles Lightbody has been bragging upon his supposedly hidden ownership in the land on which Wynn has taken an option. So say confidential sources. The feds have empaneled a grand jury in the matter. Lightbody may not be the only convicted criminal holding a stake in the property, a lead that the FBI is pursuing. Lightbody says he sold his percentage last year but those who know him are telling a different tale, and Wynn Resorts is renegotiating the sales price downward, trying to mitigate the fallout.
Neither Lightbody nor his crony would have a stake in Wynn’s Boston casino. However, with the landing going for $70 million (an 875% markup), anybody with a share would make out like a bandit. “We have agreed with the sellers to amend our option agreement to clearly confirm ownership and to reduce the option price to reflect fair market value without casino use,” read a Wynn press release.
Lightbody has done time for identity theft and assault with a deadly weapon, which in Massachusetts is known as being “a respected member of the business community who is known throughout Revere for his charitable good works.” He also had the indiscretion to lobby against Suffolk Downs‘ proposed casino in East Boston, further casting suspicion upon him. In sum, he’s a thug from Central Casting and Wynn’s worst nightmare. Wynn Resorts must be hoping and praying that Lightbody was telling the truth when he said he got out last year. Even in laissez-faire Nevada finding yourself in unwitting cahoots with a mobster means trouble.
Hotels in Vegas bank heavily on customer-loyalty programs. For instance, Sam Nazarian is hoping to roll his SBE Entertainment guests into SLS Las Vegas. But millennials aren’t like the previous generation. They shop around for value. This may mean problems for Nazarian — but bigger ones for chains like Caesars Entertainment and MGM Resorts International. Even elite members have wanderlust, reports Skift.com.
“And, when you consider that 47% of leisure travelers who book on hotel websites and 92% who book on online travel agency websites don’t belong to any hotel 
loyalty program, then you get an idea of the challenges that hotels face for repeat business,” sayeth Skift. With tourist demographics leaning toward Generation Y, casino-hotels can expect downward pressure on ADRs and profit margins. We’ve already seen evidence of this. More effective and timely use of social media and mobile applications (with relevant messaging, naturally) is recommended as a means of countering those roving eyes. If travelers to Orlando are conducted nine searches prior to booking a hotel room you can imagine how selective they’re being in re Vegas. (Be sure to check out the infographic at the end.)
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Orlando is something of a weird case re:hotel searches, as Disney World gives guests to their ~30,000 hotel rooms a whole bunch of perks including free airport shuttles, access to a much larger fleet of shuttles than off-property hotels are allowed, and simple convenience to property amenities. However, Disney’s own web basically run it’s own specials now and then and you might find a discount exclusive to a third-party site.
Imagine if MGM gave their hotel guests free rides up and down the Strip (which is even larger and more spread out than it already is), but also rarely gave up much ADR-wise through their own booking engine, and you kind of get the idea.