{"id":12407,"date":"2014-01-07T15:40:32","date_gmt":"2014-01-07T23:40:32","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=12407"},"modified":"2019-01-28T09:23:57","modified_gmt":"2019-01-28T17:23:57","slug":"wynns-new-man-in-macao-sheldons-losing-hand","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wynns-new-man-in-macao-sheldons-losing-hand\/","title":{"rendered":"Wynn’s new man in Macao; Sheldon’s losing hand"},"content":{"rendered":"

\"Wynn\"<\/a>Steve Wynn<\/strong> will continue to be CEO and Chairman of Wynn Macau<\/strong>. However, he’s handing off the presidency<\/a> to Gamal Aziz<\/strong>. It’s another sign that Macao<\/strong> isn’t just a department of a company like Wynn Resorts<\/strong> but an entity unto itself. Wynn has promised the Macanese floral sculptures the size of Rose Bowl Parade<\/strong> floats, so Aziz will have a grandiose mandate to fulfill. Estimates of growth in Macao in 2014 are all over the place right now<\/a>, ranging from 6% to 24%. However, 2013 was such a door-buster that it will take a great deal to overwhelm those grosses. Closer to home, Wynn promised to match union construction wages<\/a> with those pledged by Mohegan Sun<\/strong> at Suffolk Downs<\/strong>. That was “george” of them.<\/p>\n

The horse is well<\/strong> and truly out of the barn, now that ‘Net-betting accounts in New Jersey<\/strong> have hit the 150,000 mark<\/a>. (Mind you, many of these are people who are registered with multiple sites.) That’s something for Sheldon Adelson<\/strong> to shake his fist at, as he tries to do a King Canute on Internet<\/strong> gambling. But you really know Adelson’s playing a losing hand<\/a> when George Soros<\/strong> and John Paulson<\/strong> go in big on Caesars Acquisition Co<\/strong>., owner of Caesars Interactive<\/strong> (a much better play than buying Caesars Entertainment<\/strong> stock). Parent companies Apollo Management<\/strong> and Texas Pacific Group<\/strong> are in it for $484 million, too. Maybe Caesars Acquisition CEO Mitch Garber<\/strong>‘s overstating it when says that all<\/em> goods and services will be ultimately be bought over the Web (including gasoline?) but he’s not far wrong.<\/p>\n

\"Foxwoods_Casino\"<\/a>For the first time, Foxwoods Resort Casino<\/strong> has made its financials public<\/a>. That was rather brave of them, considering that revenue was 6% lower and cash flow 8% less than expected. Call that leading with your chin. CEO Scott “Woody” Butera<\/strong> had no shortage of excuses, including “bad weather in early 2013 and disruptions associated with the implementation of a new marketing campaign, ongoing hotel renovations and a makeover of the casino’s dining and retail outlets<\/em>.” However, he was remarkably transparent in his policy, making three years’ worth of fiscal data available at a glance. Let’s hope this is a trend that catches fire in Indian Country. The employees whose bus service was discontinued don’t share our enthusiasm, I suspect.<\/p>\n","protected":false},"excerpt":{"rendered":"

Steve Wynn will continue to be CEO and Chairman of Wynn Macau. However, he’s handing off the presidency to Gamal Aziz. It’s another sign that Macao isn’t just a department of a company like Wynn Resorts but an entity unto … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[23,166,7,37,62,112,167,12,32,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/12407"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=12407"}],"version-history":[{"count":2,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/12407\/revisions"}],"predecessor-version":[{"id":23385,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/12407\/revisions\/23385"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=12407"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=12407"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=12407"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}