Steve Wynn‘s criticism of Macao governmental policy toward casinos as “outrageous and ridiculous … the single most counterintuitive and irrational decision that was ever made” went over like a lead balloon in China. Casino executives, including Wynn Macau President Gamal Aziz, were called on the carpet. Present to read the riot act was
Secretary for Economy & Finance Leonel Alves (a former Sands China lobbyist). Following the meeting, the Macanese government indicated that it was going to stay the course whether casino owners like it or not, saying “clear understanding and full compliance.” It politely added that it “regretted” any difference of opinion.
In other words, Macao is showing the gaming barons who’s boss. Wynn’s remarks were certain to generate a backlash and his coevals 
in the market may not appreciate getting caught in it. What’s more, Wynn may have blown his chances of getting anything close to the 500 tables he wants for Wynn Palace. We know that Wynn likes to vent: that’s part of the fascination of following Wynn Resorts. But on this occasion, his penchant for hyperbole could have real-world, negative consequences.
* The Wall Street Journal asks, how did DFS get so big? Well, in part because the major sporting leagues, hungry for sponsorships, acted as enablers to DraftKings and FanDuel, especially the former. So there the NHL, MLB and MLS are, with their logos all over the Web wagering site. Other corporate entities only too eager to finance the Internet-betting pools included Google Capital, Comcast and Time Warner. With an 11% stake in DraftKings, Fox Networks could find the Nevada Gaming Control Board knocking at its door soon. DFS’ involvement with the networks wasn’t a one-way street: “research … suggested daily fantasy would encourage players to watch more sports.”
FanDuel eschewed DraftKings’ advertising-for-investment tradeoff because “We did not want to be in a place where we were committing to media over multiple years when we’re seeing a dramatic shift,” said FanDuel CEO Nigel Eccles. In other words, Eccles wanted to put more of his eggs in the digital-media basket. However, with the Justice Department and the FBI rummaging through the DFS basket, the damage may already be done. Walt Disney Co. is looking pretty smart right now for scuttling a DraftKings investment at the eleventh hour. Massachusetts is about the only major market where DFS isn’t in a world of hurt, with Attorney General Maura Healey merely “in talks with both companies over putting in place proper consumer protections.” Meanwhile, DraftKings CEO Jason Robins told Fox Business he is “open to increased regulation of the industry.” That’s a big step in the right direction.
* No casino legalization in Japan this year. How utterly shocking. (Not.)
