Although it was willing to pay at least $20 million to remain licensed in Nevada, it appears that Wynn Resorts is unwilling to take its $35 million dose of castor oil in Massachusetts. “We are in the process of reviewing that decision
and considering the full range of our next steps. We will not have further comment until we have thoroughly reviewed and considered the [Massachusetts Gaming Commission’s] decision,” said company spokesman Michael Weaver, ominously. Wynn can fight the fine in court, even though it cover it out of two days’ receipts, but if it does it will still have to put the money in escrow. Just pay and get it over with, guys.
“Put another way,” reported Global Gaming Business, “the fine is about the same as a 1.3 percent cost overrun for the Boston property. However, the fine is not tax-deductible by the company.” Not tax-deductible? Damn! Them’s fightin’ words.
For his cluelessness, CEO Matt Maddox will be required to undergo executive coaching. This includes “leadership development, effective and appropriate communication for internal, community-wide reporting and messages, human resource issues, such as diversity, hostile work environments, sexual harassment and team building.” Oh yes, and a $500,000 fine for incompetence, although Maddox’s bungling enabled him to fail upward into the CEO’s chair.
Possibly hoping to stave off a severe MGC finding, Encore Boston Harbor went on a greening spree, “planted 1,000 native trees, tens of thousands of shrubs
and 50,000 flowers,” according to GGB. It also flung thousands of dollars at charitable causes, including the Boston Symphony Orchestra and the Boston Museum of Fine Arts. In the meantime, Wynn is continuing to whisper sweep nothings in the ear of Crown Resorts, even though the latter blew a takeover attempt by leaking news it of it, thereby juicing Crown shares 20%. One of the reasons merger talk is still on is positive recommendations by Institutional Shareholder Services and Glass Lewis & Co., Australian investor services. If Wynn can pull off a deal it would push the Everett mess out of the newspapers for a week or so.
* $350 million in lost revenue will be the price Florida pays for its incompetent Legislature’s continual booting of ground balls when it comes to agreeing to a new compact with the Seminole Tribe. The state will have to eke out a budget on diminished funding until the next Lege convenes.
* Tennessee will be the first state to experiment with online/mobile-only sports betting. Yup, no sports books. This is notable not only in itself but also because Gov. Bill Lee wins this week’s Profile in Cowardice for allowing the law to take effect without his dainty signature.
* Tilman Fertitta is figuring out some ingenious ways to make extra $$ at the Golden Nugget. If you want a fridge in your room, it will set you back $33.90/night. VIP check-in? That’ll be $56.50 and available only on weekdays. (Wanna bet they find a costlier weekend-only version?) Smoking room? That’s another $56.50. Late checkout? Sure … for $33.55—or $55 if you’re staying in a suite. Pet-friendly? Not exactly. Bringing Fido will cost you $67.80/night. Best leave him at the vet when you come to Sin City.
* In a dramatic change of pace, Cirque du Soleil will be leaving the acrobats at home when its new show debuts at Luxor. Cirque has contracted Robert Rodriguez (Spy Kids) to craft a stunt-oriented, action-themed show to take the place of Criss Angel bomb Believe. The Rodriguez show will be titled R.U.N. and will provide a refreshing contrast to Cirque’s usual, fey style.
* Casinos in Macao face a problem more pressing problem than concession-renewal: A 7,525-person manpower shortfall. The casinos have been almost too successful at finding skilled people and putting them to work. (Wouldn’t you
like to have problems such as this?) The pinch will be felt strongest in mid-level management posts. The obvious solution is to permit more guest workers but that rasps at a sore point with the Macanese populace. A secondary solution would be for the government to step in and provide training for unskilled workers, so that they might eventually fill the gap. The potential shortfalls go all the way to the CEO level and most of the jobs identified as being under-filled aren’t the sort that can be fixed with a crash training course. We think the guvmint is going to have to bite the bullet on guest workers but it won’t be pretty.
* Argosy Belle is one of the lowest-performing properties in the Penn National Gaming portfolio and it won’t be doing any better this month after a flooding forced a temporary closure.
