{"id":6970,"date":"2011-06-20T15:15:52","date_gmt":"2011-06-20T23:15:52","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=6970"},"modified":"2022-02-13T07:03:30","modified_gmt":"2022-02-13T15:03:30","slug":"coming-not-so-soon-wynn-singapore","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/coming-not-so-soon-wynn-singapore\/","title":{"rendered":"Coming (not so) soon: Wynn Singapore?!?!"},"content":{"rendered":"

\"\"Steve Wynn<\/strong>‘s next big project won’t be in Japan<\/strong> … or Philadelphia<\/strong> … or Boston<\/strong>. According to the tycoon, his “next goal in life” will be to open a Singapore<\/strong> megaresort. Yeah, the same Singapore out of which Wynn bailed when the first round of “integrated resorts” was being bid out, mid-decade. Which means that Goal Number #1 for Wynn Resorts<\/strong> is a good six years off, by which time $5.7 billion Marina Bay Sands<\/strong> will almost surely have broken even, and both it and Resorts World Sentosa<\/strong> will be well established and profitable.<\/p>\n

This is one of those cases where the race was to the swift and Wynn’s hesitancy now leaves him hankering after Sheldon Adelson<\/strong>‘s table scraps. He says he’s “dying” to get into Singapore. CPR will be administered on the casino floor of Marina Bay Sands this week.<\/p>\n

\"\"Maloof outmaneuvered<\/strong>. As expected Palms Casino Resort<\/strong> President George Maloof<\/strong> (left<\/em>, with friends) is putting the best face he can on t<\/a>he loss of 98% of his trend-setting spot to private-equity funds Texas Pacific Group<\/strong> (co-0wner of Caesars Entertainment<\/strong>) and Leonard Green & Partners<\/strong>. If the latter sounds familiar, it’s the firm that offered to buy MGM Resorts International<\/strong>‘s half of Borgata<\/strong>, then left MGM hanging<\/a>. Maloof remains nominally at the helm and his family has the option to buy back an additional 18% of the resort<\/a>. News coverage to date hasn’t addressed the all-important issue of a management contract … the prospect of Caesars getting its clammy grip on the place. Chalk up one more victim for the foolish condo-hotel craze.<\/p>\n

Adios, Aliante<\/strong>. Emerging from bankruptcy as a limited-liability company<\/a>, Station Casinos<\/strong> will also be jettisoning Aliante Station<\/strong>. The tradeoff eliminates hundreds of millions in debt, Station will also take a $284 million bath on the North Las Vegas<\/strong> white elephant<\/a>.<\/p>\n

True, with a 45% share of the company, the Fertitta Brothers<\/strong> could create a great deal of mischief by playing one creditor faction against another. However, the abandonment of a development slate so hubristic (Viva<\/strong>, Richfield Village<\/strong>, Losee Station<\/strong>, Castaways Station<\/strong>) it looked zany even in a good economy suggests the chastening effect Chapter 11 has had on the company. Station’s still making capital expenditures<\/a>, but of the sort that bolster the performance of its core properties, not chasing phantoms.<\/p>\n

“Curbside” bus operators<\/strong> are enjoying a comeback, a resurgence in business that will connect many casino markets<\/a> (and potential markets) on the East Coast. Prospects for the Southwest are much sketchier, leaving open the question of how clotted highway access to Las Vegas<\/strong> will be relieved. Is there demand, for instance, to link Los Angeles<\/strong>‘ Chinatown with its much smaller Vegas equivalent?<\/p>\n","protected":false},"excerpt":{"rendered":"

Steve Wynn‘s next big project won’t be in Japan … or Philadelphia … or Boston. According to the tycoon, his “next goal in life” will be to open a Singapore megaresort. Yeah, the same Singapore out of which Wynn bailed … 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":[23,60,34,120,64,7,22,112,11,78,95,12,108,57,32,19,100],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/6970"}],"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=6970"}],"version-history":[{"count":4,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/6970\/revisions"}],"predecessor-version":[{"id":30739,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/6970\/revisions\/30739"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=6970"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=6970"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=6970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}