{"id":51,"date":"2009-09-30T17:01:00","date_gmt":"2009-09-30T21:01:00","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/blogs\/dmckee\/index.cfm\/2009\/9\/30\/Adelsons-savior"},"modified":"2022-01-09T09:06:51","modified_gmt":"2022-01-09T17:06:51","slug":"adelsons-rescuer","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/adelsons-rescuer\/","title":{"rendered":"Adelson's rescuer?"},"content":{"rendered":"

Meet Wilbur Ross<\/strong>. He’s an investor of all trades with an appetite for distressed assets. And he’s turning his sights to the casino industry<\/a>. In particular, he’s drawn a bead on “companies [who] are also looking at selling assets in the Chinese gambling enclave of Macau<\/strong> to support struggling operations in Las Vegas<\/strong><\/em>.”<\/p>\n

\"\"<\/p>\n

That means either Las Vegas Sands<\/strong> or MGM Mirage<\/strong>, and it’s old news that Sheldon Adelson<\/strong> has been peddling a couple of retail malls and the non-casino aspects of Sands Macao<\/strong> (above<\/em>). MGM is attempting a reboot (successful so far) of MGM Grand Macau<\/strong> but still might come up short on completion money for CityCenter<\/strong>, especially if condo prices have to be reduced. And it doesn’t take a rocket scientist to figure out that one Macanese casino beats any number of hotel rooms or retail outlets.<\/p>\n

Un-Trumped?<\/strong> Thwarted Trump Marina<\/strong> suitor Richard Fields<\/strong> is making another run at the property, which he’s been trying to buy since Homer was a pup. Better still for him, he could get it for as little as $75 million<\/a>. However, he’s got dark-horse competition from a Maryland-based private equity fund that’s making a play for all three<\/a> of the Trump Entertainment Resorts<\/strong> casinos.<\/p>\n

Notorious for mainly<\/strong> hanging its corporate shingle in tax-haven Green Valley<\/strong>, would-be casino operator Empire Resorts<\/strong> is not only re-headquartered in New York State<\/strong>, it’s got new partners. Some of them bring checkered pasts to the table<\/a>.<\/p>\n

Also, Empire’s hopes hinge upon the current administration reversing an especially paternalistic ruling from the George W. Bush<\/strong> years: namely, that casino sites must be within commuting distance of the tribal owners’ — in this case the St. Regis Mohawks<\/strong> — reservations. If economic self-sufficiency is the endgame of federal\/policy, Uncle Sam needs to loosen the apron strings.<\/p>\n

Unready for some football<\/strong>. The unceremonious scrapping of Monday Night Football<\/em> events at The Cannery<\/strong> is explained. Magic word: clearance. Columnist John Katsilometes<\/strong> also notes that the second weekend of Zowie Bowie<\/strong>‘s Vintage Vegas<\/em><\/a> was better than the first. Which would mean it’s graduated from “bad” to “mediocre.”<\/p>\n

New England moralists<\/strong> are apparently OK with slot machines in Rhode Island<\/strong>, so long as they’re covered by the fig leaf of mandatory greyhound racing. At least the slot players have a chance of actually catching the rabbit, metaphorically speaking. Animal cruelty is bad enough but when it’s enshrined in state law it’s even more objectionable, if such a thing is possible.<\/p>\n","protected":false},"excerpt":{"rendered":"

Meet Wilbur Ross. He’s an investor of all trades with an appetite for distressed assets. And he’s turning his sights to the casino industry. In particular, he’s drawn a bead on “companies [who] are also looking at selling assets in … 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":[98,23,73,56,42,4,67,62,11,101,12,74,20,17,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/51"}],"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=51"}],"version-history":[{"count":4,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/51\/revisions"}],"predecessor-version":[{"id":30573,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/51\/revisions\/30573"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=51"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=51"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=51"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}