{"id":18731,"date":"2016-08-19T10:08:51","date_gmt":"2016-08-19T18:08:51","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=18731"},"modified":"2016-08-19T12:29:20","modified_gmt":"2016-08-19T20:29:20","slug":"steve-wynn-re-visionary-dfs-in-nevada-its-back","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/steve-wynn-re-visionary-dfs-in-nevada-its-back\/","title":{"rendered":"Steve Wynn, re-visionary; DFS in Nevada: It’s back"},"content":{"rendered":"

Evidently industry leaders are coming to terms with the fact that the go-go days when Macao<\/strong> was a $45 billion\/year casino market are over. Steve Wynn<\/strong> told The Associated Press<\/strong> that\u00a0\u201cWhat took place here in previous years was an anomaly.\u00a0he amount of revenue, \"Wynnthe rate of growth was unprecedented and historic and in many cases not just extraordinary but outrageous.\u201d Careful, Steve, you’re starting to sound like a member of the Chinese government. Calling current market conditions “wonderful” — Macao’s current $29 billion\/year output is anything but shabby, after all — Wynn described the present casino business as\u00a0\u201crepresenting more normal patterns of human behavior, and that applies as well financially.\u201d I’m not quite sure I believe Wynn when he says he’s too busy to keep tabs on policy in Beijing<\/strong>:\u00a0\u201cThe policies of the central government are only tangentially important to us because we\u2019re in the middle of delivering a service.\u00a0In the long run, the economy of China<\/strong> is going to affect all my customers and their ability to recreate [sic<\/em>], but on a day-to-day basis it\u2019s not part of our script, it\u2019s far away from us compared with the demands of the moment.\u201d Even if he’s sweating out such niceties as figure-eight-shaped cabinet handles<\/a>, I’m sure Steve Wynn is keeping the bigger picture at the top of his mind.<\/p>\n

As for the presidential race, Wynn is keeping his preference to himself<\/a>, aside from some niceties about Bill Clinton<\/strong>, saying only,\u00a0\u201cWe have both parties promising this and promising that and we\u2019ll give you this free and we\u2019ll give you that free. And nobody has described how to pay for it except we\u2019ll get the rich guys and the corporations to pay their fair share.\u00a0I yearn for a more adult discussion of these things and when I hear it I\u2019ll cast my vote, and support people like that. In the absence I keep my hands in my pocket, and my wallet too.\u201d If Wynn meant to be inscrutable, he has certainly succeeded. As for Sheldon Adelson<\/strong>, Bloomberg News<\/em> reports there is some dubiousness surrounding his $100 million pledge to the presidential\u00a0campaign. Perhaps there are other GOP races where Sheldon thinks that money could be better spent. Just a guess.<\/p>\n

* Federal bankruptcy Judge Benjamin Goldgar<\/strong> is concerned with the size of the haircut \"Brynner\"that Caesars Entertainment<\/strong> investors (left<\/em>) are being asked to take. He’d like to see Texas Pacific Group<\/strong> and Apollo Management<\/strong> pony\u00a0up some dough<\/a> to make for a more-equitable settlement, saying, “as far as I know none of those [private equity] parties is contributing as much as a dime under the plan.\u201d Speaking of settlements, Caesars says it has come to terms on one of four creditor lawsuits, which may not seem like much but is a significant step to getting the company out of the woods. As Caesars likes to argue, prosecution of the remaining lawsuits could well drag the entire company into Chapter 11.<\/p>\n

* DraftKings<\/strong> and FanDuel<\/strong> must think they’re pretty special. They’ve suggested that they’ll re-enter the Nevada<\/strong> market … if legislation is crafted for their particular convenience<\/a>. The duo doesn’t want to have to apply for Nevada<\/strong> gambling licenses and is hiding behind the fig-leaf argument that what they’re offering is a game of skill, not \"Draftchance, in contravention of Attorney General Adam Laxalt<\/strong>‘s written opinion. The law, with the daily fantasy sports operators will probably draft\u00a0themselves, would be modeled on the ones that have legitimized DFS in 10 states. (This is a cruel irony for licensed operators like Vic Salerno<\/strong> who went about getting their Nevada DFS permit the hard way<\/a>.) A big sticking point would be that, in their greed, DraftKings and FanDuel want the threshold of participation in the Silver State lowered from 21 to 18 (which would make casinos second-class sports betting operators). The DFS duo also want an easy ride here, too: a $500 application fee and $10,000 a year in renewal payments. Gov. Brian Sandoval<\/strong> (R) is partly to blame for this noblesse oblige<\/em>, having invited DFS operators to propose how to regulate themselves. Pushback may come from an advisory committee that includes Station Casinos<\/strong> President of Race & Sports Operations Art Manteris<\/strong>. After all, it’s not gambling “it’s just wagering on sports over the Internet<\/strong>.”<\/p>\n

* The explosion of naked Donald Trump<\/strong> statues has a Vegas angle<\/a>: They are the creation of local artist Joshua Monroe<\/strong>, late of defunct Strip attraction Goretorium<\/strong>. The Libertarian-leaning Monroe has a naked\u00a0Hillary Clinton<\/strong> in his sights next. Those replicas will probably meet the same short-lived fate as the Trump statues: Said NYC Parks<\/strong> spokesman Sam Biederman<\/strong>, \u201cNYC Parks stands firmly against any unpermitted erection in city parks, no matter how small.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Evidently industry leaders are coming to terms with the fact that the go-go days when Macao was a $45 billion\/year casino market are over. Steve Wynn told The Associated Press that\u00a0\u201cWhat took place here in previous years was an anomaly.\u00a0he … 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":[42,14,26,7,37,62,207,101,25,12,57,32,9],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/18731"}],"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=18731"}],"version-history":[{"count":4,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/18731\/revisions"}],"predecessor-version":[{"id":18737,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/18731\/revisions\/18737"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=18731"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=18731"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=18731"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}