{"id":23841,"date":"2019-04-03T08:38:00","date_gmt":"2019-04-03T16:38:00","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=23841"},"modified":"2019-04-08T06:47:05","modified_gmt":"2019-04-08T14:47:05","slug":"circa-rustles-up-wynn-slammed","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/circa-rustles-up-wynn-slammed\/","title":{"rendered":"Circa rustles up $$; Wynn slammed"},"content":{"rendered":"

Despite some distant jingoism\u00a0in the halls of Congress, Derek Stevens<\/strong> in still putting his money\u2014so to speak\u2014on EB-5<\/strong> investors. \"\"This Web site<\/a> opens with a slide show of a soon-to-be Downtown<\/strong> icon, Circa<\/strong>, followed by the copy, “We have chosen this exclusive project for you to ensure value for money<\/em>.” While we don’t normally think of casinos as ‘safe’ investments (were similar promises made on behalf of Lucky Dragon Casino<\/strong> and SLS Las Vegas<\/strong>?), we’ll let that slide. There follows some B-roll on Circa and, in a possible nod to the Internet<\/strong> train wreck that is the Las Vegas Review-Journal<\/em> Web site, a tangled scrum of R-J<\/em> links regarding Stevens’ project. In what might be regarded as a black joke on potential investors, the links don’t lead to the promised stories but to the R-J<\/em> front page, meaning you can read all about Joe Biden<\/strong>‘s touchy-feely\u00a0hands but you’re at the mercy of the R-J<\/em> search engine (and paywall) regarding Circa. It’s not entirely clear why Stevens needs to go overseas in search of funds: One of the assurances made is “Project taking out existing equity i.e. will be 100% funded without EB-5” That sounds good but will you forgive me if I don’t quite believe it?<\/p>\n

* As a prelude to their much-awaited, three-day hearing on the suitability of Wynn Resorts<\/strong>, the Massachusetts Gaming Commission<\/strong> has released a report on Steve Wynn<\/strong>‘s sexual misconduct. It concludes that six Wynn executives had knowledge of \"\"the misdeeds and acted to hide them. While the report throws some uncertainty on Wynn Resorts’ licensure in Massachusetts<\/strong>, shares of WYNN actually rallied to close the day at $131.85<\/a>. Outside lawyers are also implicated in the cover-up of El Steve’s miscreant actions. “Their efforts at secrecy made it exceedingly difficult, if not impossible, for gaming regulators to detect this potentially derogatory information through typical regulatory means,” states the MGC. Also, top Wynn brass “appear to have contributed to a culture where employees were reluctant to report allegations against Mr. Wynn to management.”<\/p>\n

While the hearing would seem to put an end to Wynn Resorts’ long national nightmare, it will actually be followed with several weeks of MGC cud-chewing, as the penalty phase is adjudicated. Expect Bay State Attorney General Maura Healy<\/strong> to be keeping a close watching brief on the proceedings.<\/p>\n

* Sports fans weren’t the only ones underwhelmed by this year’s Super Bowl<\/strong>. Sports books in Rhode Island<\/strong> went $900,000 into the red, mainly because most of the action was on the hometown favorites, the New England Patriots<\/strong>. Worse for the state, which had booked $11.5 million in tax revenue for this fiscal year, the books won’t come close. \"\"So far their profits are a measly $300K. State Senate President Dominick Ruggerio<\/strong>‘s take was that \u201cIt is doubtful that revenue figures will hold up to estimates, in large part due to a disappointing February, which was not unexpected due to the success of the Patriots.\u201d Solons were speedy to pass a mobile-wagering bill, to which Gov. Gina Raimondo<\/strong> (D) affixed her John Hancock, but it will probably be too little too late. Next fiscal year, Raimondo has $30 million earmarked in sports-book taxes, including $3 million from mobile wagering. It would nice if those numbers penciled out but we think the governor is dreaming the impossible dream.<\/p>\n

* Las Vegas<\/strong> would seem like the antithesis of everything that Katniss Everdeen<\/strong> represents. Effie Trinket<\/strong>, though, would be in her glory on the Las Vegas Strip<\/strong>. None of this has\u00a0prevented 20th Century Fox<\/strong> (now with 100% more Disney<\/strong>) from cashing in<\/a> with a Hunger Games<\/em> exhibit at MGM Grand<\/strong>, launching on an unspecified date this spring. Better announce a date certain, guys: There’s not much winter left. And if Las Vegas is District One<\/strong>, would Pahrump<\/strong> be District 13<\/strong>?<\/p>\n","protected":false},"excerpt":{"rendered":"

Despite some distant jingoism\u00a0in the halls of Congress, Derek Stevens in still putting his money\u2014so to speak\u2014on EB-5 investors. This Web site opens with a slide show of a soon-to-be Downtown icon, Circa, followed by the copy, “We have chosen … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":16833,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[155,51,206,112,245,10,25,141,232,195,74,243,32,31,9,38,233],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/23841"}],"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=23841"}],"version-history":[{"count":4,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/23841\/revisions"}],"predecessor-version":[{"id":23853,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/23841\/revisions\/23853"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media\/16833"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=23841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=23841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=23841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}