{"id":18162,"date":"2016-04-26T09:24:26","date_gmt":"2016-04-26T17:24:26","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=18162"},"modified":"2016-04-28T09:46:48","modified_gmt":"2016-04-28T17:46:48","slug":"what-did-wynn-know-and-when-did-it-know-it-mgm-reit-a-hit","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/what-did-wynn-know-and-when-did-it-know-it-mgm-reit-a-hit\/","title":{"rendered":"What did Wynn know and when did it know it?; MGM REIT a hit"},"content":{"rendered":"

An unwelcome sideshow for Wynn Boston Harbor<\/strong> is playing out in a Massachusetts<\/strong> courtroom, in a court case of “excruciating details<\/a>.” What is at issue is whether\u00a0Dustin <\/strong>
\n\"steve-wynn-1\"DeNunzio<\/strong>, Anthony Gattineri<\/strong> and Charles Lightbody<\/strong>\u00a0attempted to defraud Wynn Resorts<\/strong> by concealing convicted felon Lightbody’s ownership role in the 35 acres Wynn acquired from them. While the three men are all in danger of spending the next 20 years in prison, Wynn Resorts faces the PR blotch of appearing to have been, at best, willfully ignorant of who owned the land it was buying. Wynn go-between Daniel Gaquin<\/strong> is alleged not to have asked who the owners were. Worse still, Wynn’s Matthew Maddox<\/strong> and General Counsel Kim Sinatra<\/strong> were said to have been informed of Lightbody’s involvement and showed no concern.<\/p>\n

Claiming vindication was Massachusetts Gaming Commission<\/strong> member Gayle Cameron<\/strong>, who said,\u00a0\u201cI was absolutely concerned about the association with organized crime. The other issue that was of great concern was what the principals of Wynn knew.\u201d That concern may be harder to finesse than DeNunzio et. al.’s potential guilt. Following the trial for Forbes<\/em>, Walter Pavlo<\/strong> concluded that the prosecution’s case, while elaborate, was weak and the Lightbody connection was hiding in plain sight: “just a legitimate note to buyout a partner whose presence on the deal would have meant its demise. Many would call that prudent business.\u201d The discovery of Lightbody’s presence saved Wynn roughly $40 million on the land deal but remains to be seen whether the company was as shocked as it claimed to be, when the defense presents its case.<\/p>\n

* MGM Growth Properties<\/strong> stock traded even higher than expected, enabling MGM to raise the $1 billion-plus it sought on the first day of trading<\/a>. Now we’ll see what sort of retail therapy MGM has in mind with that billion.<\/p>\n

* Maybe it could buy Marina Bay Sands<\/strong>. Crazy as it seems, Sheldon Adelson<\/strong> has been musing aloud to investors about selling the Singapore<\/strong> megaresort, which may have cost as much as $750 million<\/del>\u00a0$7.5 billion to build but which has been mad\u00a0lucrative. However, Adelson generally doesn’t do something without a very good reason, so we’ll have to wait and see what’s behind Foxy Grandpa’s latest move.<\/p>\n

* Oklahoma<\/strong> both is and isn’t the fourth state to offer online poker. True, the Iowa Tribe of Oklahoma<\/strong> just got the go-ahead<\/a> to launch an i-poker site. However, only offshore play can be accepted. Heck, the tribe isn’t even running the site, farming that out to Universal Entertainment Group<\/strong>. So the question, “Is there Internet gambling in Oklahoma” becomes an existential conundrum.<\/p>\n","protected":false},"excerpt":{"rendered":"

An unwelcome sideshow for Wynn Boston Harbor is playing out in a Massachusetts courtroom, in a court case of “excruciating details.” What is at issue is whether\u00a0Dustin DeNunzio, Anthony Gattineri and Charles Lightbody\u00a0attempted to defraud Wynn Resorts by concealing convicted … 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":[37,189,112,11,115,25,12,108,32,20,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/18162"}],"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=18162"}],"version-history":[{"count":2,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/18162\/revisions"}],"predecessor-version":[{"id":18182,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/18162\/revisions\/18182"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=18162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=18162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=18162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}