This page has been archived and commenting is disabled.
Wynn Calls "Big" Recovery "Complete Dream" As Gaming Revenues Collapse
Last month, courtesy of Andrew Zatlin’s Vice Index, we flagged the disturbing Q1 rise in traveling hookers. We call the trend disturbing not because we have a prima facie inclination to look with disdain upon all things escort-related but because, as Zatlin notes, when escorts are forced to take their show on the road it means the phones have stopped ringing locally, and if you’re inclined to believe that trends in all-cash businesses are a good leading indicator for trends in consumer spending in general, depressed spending on gambling, alcohol, and other “fun” things does not bode well for economic growth going forward. As you can see from the graph below, The Vice Index hit its lowest level in more than a year in March:
Given this — and given the fact that whatever discretionary income Americans do have is apparently being chanelled into TD Ameritrade accounts — it should perhaps come as no surprise that gaming revenue on the Las Vegas strip fell nearly 10% in March after sliding 4.4% in February.
Meanwhile, the situation in Macau continues to deteriorate at a rather remarkable pace, as gaming revenue fell 39% last month, the eleventh consecutive monthly decline which looks good only in comparison to March’s 39.4% decline and February’s 49% drop. Of course in the deluded minds of China’s millions of newly-minted day traders, a 39% decline represents “stabilization” and so, as Bloomberg reports, casino shares rose in Hong Kong on the news:
Wynn Macau Ltd. rose 4.8 percent to HK$16.54 by the close of trading, the biggest gain since April 9. Sands China Ltd. gained 3.3 percent and Galaxy Entertainment Group Ltd. advanced 3.1 percent, while the Hang Seng Index was little changed.
Gross gaming revenue in the world’s largest gambling hub fell 39 percent to 19.2 billion patacas ($2.4 billion) last month, meeting a median estimate of a 39 percent decline from eight analysts surveyed by Bloomberg. The drop has slowed for a second consecutive month.
“Investors are really just focused on trying to find stabilization or a bottoming,” said Vitaly Umansky, an analyst at Sanford Bernstein. “As long as things aren’t deteriorating, things seemed to be fairly consistent, that’s probably a decent sign from an investor’s perspective.”
Right. As long as things “aren’t deteriorating” and revenues are only falling by 40% that’s a “decent sign.” Unfortunately, some industry heavyweights don’t seem to share the view that the market is set to turn the corner any time soon. Take Steve Wynn for instance who, on the way to slashing WYNN’s dividend by nearly 70%, had the following to say about the company’s outlook for Vegas and Macau and about the so-called "recovery" in the US economy:
Well, the numbers in the first quarter are out. I think the trends in Macau were beginning to be very visible in the fourth quarter, but our hopes for an improvement in the Chinese New Year turned out to be incorrect. And the repositioning of the market and the degradation of the volumes in VIP, have continued even into April. Most of my remarks now are going to include what we’ve seen in the first four months, not just the first three months, because the trends that were clear in January, February and March have continued into April and as we look at the whole year in Las Vegas and Macau, certain simple truths emerge.
It is no secret that there’s been a change in mainland China in attitudes towards a number of things that have impacted Macau. That has not – nothing has changed since this all began last October. And the depression of the VIP market continues…
So as we look backwards for the fourth quarter and especially during the last four months, and understand what’s happening, both in Las Vegas because of the Asian impact on Baccarat, and we look back and then we extrapolate and try predict the future, or at least understand what most likely will be the future, it is foolhardily and immature and unsophisticated to issue dividends on borrowed money. We only distribute money that’s free cash flow based upon our earnings that trail…
If you were to ask me, since we’re making forward-looking statements, what will the second quarter look like in Las Vegas? Weak. Do you hear me? Weak. So I’m trying to lower expectations here. This notion of a big recovery is a complete dream. I don’t think Las Vegas is experiencing a great recovery. I think it’s still very patchy and I think that that’s probably our non-casino revenue in the first quarter was flat. I’d be thrilled if it was flat in the second quarter.
Besides being a stinging indictment of the pitiable state of the US economy, that’s a fairly unambiguous message from someone who knows a thing or two about this industry and even as the likes of Deutsche Bank called the Las Vegas commentary “overdone”, the bank had the following to say about the outlook for the gaming industry:
[With] market trends showing very limited signs of improving, and more headwinds than tail winds on the horizon (potential visitor traffic curbs, a full smoking ban, and uncertainty around table allocations), visibility is worse than ever in our view.
Despite the malaise and despite the fact that, as we noted earlier this year, Beijing’s corruption crackdown has likely motivated China's habitual (and filthy rich) gamblers to move permanently away from the dark-lit Macau gambling parlors to multiple-monitor lit trading desks, there will always, always be BTFDers — especially when you’re talking about Hong Kong-listed shares. With that in mind, we'll close with this quote provided to Reuters by Matthew Ossolinski, chairman of Ossolinski Holdings:
"What is the worst that could happen? [Gaming] stocks go down before they go up. But they will go up. We are preparing for a 100 percent increase in shares within the next three years."
- 63837 reads
- Printer-friendly version
- Send to friend
- advertisements -




That's what happens when America bets it all on black.
Sorry. Had to.
Steve Wynn/Chuck Norris ticket for 2016 !!!
I'm thinking he wasn't at the Mayweather/Pacqiao fight.
Why gamble when you can simply BTFATH?
Note to Steve... Just IPO the shit out your crackpot operation in Shanghai.
Caveat. Make sure no more than 10% stock gains per day
Have yourself a nice pay day and make your investors happy
I didn't read the article.....it's not like "Wynn" rymes w/win..(what is your given name?) is telling us anything new....
Whatever your name is...No no bailouts for you....just sell a lot of your stawks & retire to belize w/ the guy from McCaffe
"Things are so bad in Vegas I had a hooker offer to shine my shoes."
I was in Vegas last weekend for the GPAA show and things are pretty tragic. The Cannery on E. Craig had only one valet and no apparent bellmen during Sunday morning sheck-out. Heavy play at the Cannery and Silverton netted break-even returns and serious losses at the South Point. I saw NO ONE getting hand-paid, (winning over $1199 in one hand or spin). This is Las Vegas, mind you, not some out-of-the-way podunk casinos.
Saturday and Sunday night in two of the aforementioned casinos were quiet. Not I get that it was the w/e before the Mayweather/Paquiao fight, but still, it was virtually lonesome at those places. I'm with Winn on this. There has never been a recovery. It a Fed-induced lie and bailout for banks with the ramifications of those actions.
By the way, interest in the GPAA has never been greater. Funny that...
When Criminals Rule...
I'm afraid the American Oligarchy is coming to an end...
(Poverty will soon grip this nation like Rome & it's not going to be pretty!)
Then ya better start stocking up now... While you still can.... You don't have much time left, though...
All the discretionary income that went to gambling goes to gambling with obama care. Will they cover this or will they not?
And the huge deductible is the price you have to play.
Even without Obamacare, there would be no jobs for people to have discretionary income. This isn't China, India, or any other low cost of living Asian country, it's the United States.
Obamacare just finishes off what is left of the middle class after experiencing a jobless recovery.
One of my clients is one of the biggest manufacturers of gaming machines worldwide. The last couple of years, and this year, in particular, they've been as cost-conscious as i have ever seen. This is a major departure from their budget even a few years ago.
I used to see hand-pays all the time. I used to have a problem remembering the damned IRS got a copy of them when I filed. I like Vegas but I cannot remember the last time I saw a hand-pay. I suspected the machines were reprogrammed to do lots of smaller wins to stay under the 1099 reporting limit but I do not see that really happening. People are attracted to winning and my guess is that the lower revenues have played out in the casinos going to the minimum payouts on the machines.
Hell, even the tables seemed cold and I think they are honest. I love Vegas and going to a car club rally there at the end of the month...but the good vibes and energy seem to have a chill on them these days. I just think people don't have the money any more. I know it is true for me and a lot of the people I know and I take less than a half or a third of the bank roll I used to.
What fight? The Jockey riding American Pharaoh was hitting harder.
What's worse, we bet it all on a black who is red.
F vegas and F casino owners. People who go to casinos deserve to lose f**king everything. Wake up sheep.
Don't like casinos, Freddie? DON'T FUCKIN' GO TO ONE. In the meantime, some folk who go on vacations like to go to places like casinos and have fun. Casinos also give jobs to lots and lots of people, and their income supports their communities. So fuck them too, Freddie? Seriously, only someone who has never been in a casino could say something so ignorant. Get out of your mother's basement and get a life. It would simply amaze you the things you can "find" in a casino. :))) And speaking of waking up, beware for whom the bell tolls, Freddie.
What is Wynn worried about, he is a member of the J-mafia, the goy taxpayer will bail him out one way or another, effendis dont lose money.
Casinos don't add anything to the economy. They transfer money from one group to another. A lot of the money comes from people who can't really afford to spend it.
We live in a casino town and at one time I delt 21 before I started programming casino systems. It is nice to go out to a nice prime rib dinner once in a while that costs $20 bucks for the two of us, tip incl. Top that in Baltimore. We gamble a little (I count cards :-) and usually break even for the evening. Counting is really boaring. If you keep the bets reasonable you will not be asked to leave. $5 to $100 will not work even once around here. Cheers.
As a casino worker, amen to what Theo writes.
F Vegas the man says. What does the man say about the stock market? Derivatives? Options? Etc...
That's s dumb statement. It's entertainment and fun. How much do you lose or win when you go to Hawaii, Cancun or Disney? You lose all your money, right? Well, you have a good time. In Vegas you have a great time and unlike most any other vacation you at least have the possibility of bringing home more money than you started with. Does that happen in Hawaii? Do they comp you rooms and meal and shows in Hawaii? No.
If you gamble to make money, that is a different animal and poker is really the only rational game. All the others have house odds.
Comparing Vegas to Hawaii, or any other tropical islands? LOL.
Vegas is a shithole...I have spent more time in vegas than anywhere else in the world. You want to witness a total loser parade?? Walk through the casino at 5am. Vegas fits the american illusion perfectly. Everyone who goes to vegas is a high roller, pimp, famous or successful businessman in their own mind. There are two types of people I have observed over the years at the vegas airport...those who no matter what always win, which is total BS and those that admit to losing, only to justify losing a shitload of money with "yes I lost a thousand dollars I don't have, but I had fun all night!, so its okay". Want to see the real vegas?? Go off the strip into the neighborhoods.
Somalia is a shithole. Detroit is a shithole. Ferguson, and so on. No one goes to those places unless they are lost.
Vegas, gambling, and the things that go with it attract some undesireables but it's not a shithole. People would not come from all around the U.S. or world if that was all it represented.
Relax Francis, not everyone is a cave dweller. They gambled and enjoyed themselves in the 20's to you know.
~What's worse, we bet it all on a black who is red."~
That's the wittiest thing I've read in a week. Thanks, Team D!
You're welcome, and by the way you look marvellous.
Cocksucking Homosexual
If you have to, I have to.
I was in Vegas over the weekend for the fight. The Wynn was half-empty on the Sat. night right before the fight. The Encore was even worse.
Of course, they brought in all the gangsta rappers for the fight crowd and the clubbing crowd. It was a shitshow, even by Vegas standards.
Plus, there were no cabs. When I asked the cabbie (when I finally got one) why, he said the cabbies are afraid of the crowd the fight attracts and prefer to stay home.
Las Vegas has bet a lot on "black" in its business model and apparently white has decide to go elsewhere. Red is the result.
Just like the cab drivers in NYC. Of course. The attraction in Vegas for the fight reminded me of the clientele who frequent Bally's in Atlantic City... Not good.
Oh, well played my good friend. .....
The economy must be like a Casino, Only fools with money to lose can play.
Those assholes killed the golden goose, now they're whining about it.
so fucking true
Wynn is also trying to expand to Massachusetts; he's complained about how long it has taken the MA regulators to get the ball rolling.....methinks Steve is worried he'll lose those super fucking sweet ZIRP rates from the Fed. Now's a chance as best as any to while and bitch about the economy so that Mommy Janet doesn't rates rates and destroy his stock holdings.
Nevertheless, he is completely accurate about a fake recovery.
The schmucks ran out of fuel for the Wynnster.
The point is the economy. It's actually not just gambling. It's about entertainment. I think Vegas and Macau are probably good measures of the real economy. When people not only have money but expect to have money in the future they entertain themselves. If their current finances or expected future finances look bleak, the give up Vegas, large vacations, eating out, etc.
By the way, before you call casinos greedy SOB's look at the other major gaming operation, government. Look at their take on the lotteries. It makes even the mobsters of old wince with envy. Remember, too, when the government gives you that big fat $10mil or more they took in at least $20and will tax about 60-70% of what they give back to themselves. And they don't give you free hotels, meals or show tickets for it.
The article is extrapolating about the economy. Wynn is talking about casinos... Period.
As usual,Massachusetts,way behind the times with casinos. Like Dead Ted trying to bring back the texile industries. Been to Vegas 3 times and loved it. Never drop a nickle on gaming, but love those Asian ladies. Boston women are overweight and spoiled, entitled brats. They and casino gaming are not the future.
The only way to truly appreciate that statement is to go and look at what they've done to Macau. What was once a charming colonial period city now makes the Vegas strip look like Mr Rogers Neighborhood. All on the addiction to hot Chinese cash.
Chinese nouveau riche just get bored easily
~"What was once a charming colonial period city now makes the Vegas strip look like Mr Rogers Neighborhood."~
The same could be said about Manhattan, pilgrim. ;)
Manhattan has become one big Bed Bath and Beyond.
Dupe post.
and even hotter sex slaves
las vegas will have a straight line to hell - without money in desert - good luck
without water it looks too
nice comment, I up ticked you for the avatar though!
Las vegas only uses 3% of the states water. They will truck it in.
And California uses the other 97%, truck it in baby.
They're banning smoking in LV casinos? Ouch.
If they do they'll knee cap most of their punters.
They said that about the bars out here in Washington. Hey, no problem no impact - no biggie.
3/4's of are now gone and limited smoking is back.
I can't beleive LV would allow that to happen. They are already on the ropes.
As a non-smoker I appreciate it. However, the same people who need the nicotine stimulation also need the slot machine stimulation or roulette or craps or whatever. They go together at a rather high percentage.
Government nannies will kill everything off over time.
Vegas was always living on borrowed time. It is in the middle of the fucking desert and is a long travel for 90% of the US. Vegas has been depending on the ignorance/arrogance/campaign donations of politicians to keep gambling illegal in their states in order to keep the monopoly in Vegas. Same thing in Atlantic City. Now that states are waking up to the potential revenue they could be making and legalizing gambling across the country, Vegas and Atlantic City are dinosaurs right before the meteor hits. Or the ice age comes. Or whatever happened to them...
Indian Nation gambling is now decades old so your premise doesn't really hold. Vegas did fine when faced with constant increases in competition. People go there for the warm winter, the entertainment venues, and the rest that goes along with the Vegas scene. There are casinos in St. Louis. Would you rather go there?
What's killing Vegas is what's killing everything else. We're busted and indebted to hell.
As for borrowed time in the desert, can't disagree with that part.
Agree with all of the above, but Vegas is out-of-step. It caters to a different mindset and time. The all-dressed-up-out-on-the-town era is gone. Now it's sweatpants and video games. And now the people with disposable income are nerds, not high-fliying businespeople wanting to show off how much money they have at the tables. For better or worse, attitudes are different. The next few generations will not vacation there. And no, the family thing will not help.
I can see your point. Still, living in SoCal, I know all sorts of idiots who continue to flock there. Probably will be the main base for the business. Vegas should go back to being a small mob town. It was more fun then.
I had the misfortune of going to that shithole last summer. First time and last time. I never wanted to go there. It is expensive, there are not many attractive women - even the hookers, hot as hell even at midnight and disgusting. Morons paying big bucks for D-list talent and shows.
I thought - where do all these retards visiting Vegas walking around come from? I relized it all had to be dumb sheep from Callie-Porn-ia. They probably think Las Vegas is glamorous or something.
I saw one good looking woman there at the airport. My guess is she was a VERY expensive prositiute.
All the hot women are in Denver? Ever go to Denver? I shit you not. That place is incredible.
Just book a flight to San Jose Costa Rica and say "Del Rey Hotel" to the cab driver, you may wish to make a two night reservation in advance. That's all you need to know, everything will fall into place your first step inside the door. A $175 a day budget for hotel, food, and "entertainment" should cover it..Beats the heck out of Vegas.
When was the last time you were there?
The shows still sell out, the clubs are packed, the hotels busy.....and a LOT of folks still like to dress up and get down.
Old Joke
Talking with a guy at a bar, and he syas he owns a casino, so I ask how's business.
He says "Son, my business is like sex. When it's good, it's unbelievable, and when it's bad, it's still good."
I go regularly and they are not full and selling out. Some things do well. A lot of people still go there but the crowds and energy are way down. You saw the revenue numbers at the beginning of the article.
What is interesting is that there is still a good bit of construction going on and plans for new places. There are lots more places outside the strip than long ago so I wonder if there is some dilution of revenue going on, as well. Total revenues could be down a bit or flat but how many casinos are dividing up that total revenue number, now?
The next few generations will not have any money for Vegas, even if they had a desire to go. Why bother traveling when you have bong hits and virtual reality to fill your days....
Never has the decline of Atlantic City been more rapid than in the last 5 years. You know what happened in 2010? Philly opened it's first fully operating casino with a 500 room resort. Coincidence? If you are geographically challenged, Philly is 62 miles from AC, and has a population of 1.5 million people. So yeah id say state legalization has a bit to do with it
Oh and I nearly forgot Resorts World Casino that opened in Queens back in 2011. You get the idea.
The Sands in Bethlehem as well. Bethlehem may actually be slightly more of a charming city than Atlantic City.
You forgot to mention one of the biggest issues - online gaming in the US via interstate and international transactions. Wynn and Adelson though have made sure that they have bought up the right people so that it has a snowball in hell's chance of seeign any movement at the federal level at least.
Public generally though in the US isn't supportive of online gambling & even in the NJ polls I have seen it loses by wide margins in terms of general support among the public and in every demographic.
Nonsense! LV is a destination just like Orlando or Paris there are direct flights from Europe, Hong Kong and everywhere else for a reason
Chinese don't have to go to Macau anymore just sit down in front of an old monitor knit a sweater and buy buy buy. So easy even a fruit vendor or shoe shine boy can do it.
Macau's recent business model was based principally on money laundering Mainlander hot money. Now that the anti-corruption meme is sticking in the Mainland, that revenue stream is fast evaporating pronto.
The second punch will be the impact of recent adjustments to luxury good duties on the Mainland. This is already hitting HK lux goods retail and one can assume Macau as well.
So Macau at its current rate of buildout is also becoming a tourist theme park like LV. Not quite what the management planned on and cetainly not the desired revenue stream to service all the debt.
The problem is it is cheaper for Mainlanders to go luxury good shopping in Venice than the Venetian Macau.
Fuck you Sheldon Adelson!
Wynns is right on the recovery nonsense, but is in a non productive shame racket like a Pimp. And so are the States.
It doesn't matter anyways - Las Vegas will be on rationed water within a year. Lake Mead is just about empty.
I'd like to place a 1 litre Ethos Water on black 22.
Possession is 9/10ths of the law. Most of the water from Lake Meade leaves Nevada. If the water level gets really low then I expect Nevada to flex the possession rule.
Now quake in your boots as you envision the Fed's next plan to goose the numbers upward again, like they managed to 2009 onward.
...it is foolhardily and immature and unsophisticated to issue dividends on borrowed money. We only distribute money that’s free cash flow based upon our earnings that trail…
DAMN COMMIE!!!
hmmm, ur right, he may get droned.
Um...if I get this right, We allowed groups of people to steal from everyone and called it "gambling". We are now not happy with how much money we are stealing so we must need gobment intervention.
It isn't stealing. More honest than the various "markets" that one can trade in.
Communist Party of China: where everyone is equal, but some are more equal than others.
The more equal used to go to Macau, now they have 100 e-trade accounts and gamble from home.
It's all stock market's fault.
Vegas Pussy must be getting really expensive.
or cheap...
... at least cheaper than having a shower in Las Vegas.
Last check, price quote from an attractive hotel-whore for a fuck was $100. Might have taken her up on it, but I forgot the splint. That was about four years ago.
Don't know what the list prices are at the bordellos, never been to one (so far).
<---Cheap Pussy(tm)
<---Expensive Pussy(tm)
You can have the Vegas trim; those unnatural racks hanging pendulous and rock-hard as softballs, bleached blonde hair, behaving like wolves in heat. Amerikan paid trim is the nadir of the world. Well, maybe India's is worse...
titties TBTF
Tupperware
or it's past it's expiration date
There's nothing wrong with the U.S. economy. If you think this is so bad, try Europe.
We're doing pretty darned good.
/
A clever 8 week trollbot.
It shows: Pretty darned good...
Your taxes at work folks.
Yes, he even bastardized the name of an old poster.
I think you nailed him. Peruse his recent comments.
There's nothing wrong with the U.S. economy. If you think this is so bad, try Europe.
We're doing pretty darned good.
you sir,,,,live in fantasy land or are a paid troll for the gobamint
www.ViewLasVegasRealEstate.com
A few years ago.....Melbourne Australia opened its first Casino.
It was sold to the punblic as a source of revenue and Melbourne could not consider itself a real International city without one.
When I was a kid you had to travel to another State in Australia if you wanted to play Pokies, gamble. There was no problem.
As soon as they opened that thing....the shit came out of the woodwork....
Gangsters were getting killed (very rare in Melbourne), alot of people lost everything and they had to install cameras on a huge bridge because people were jumping off the thing at alarming rates.....
Pokies are now everywhere in Melbourne.......
And years later.........today the revenue is still needed from the tax payers.....
I say rename Australia.....Pokiestralia......and be done with it.
We banned casino and most of gambler games in Russia.
Good for Russia. Casinos are shit.
I agree with Baptist preachers that gambling is the devil's work. This includes the options market.
Las Vegas and Chicago - the devil's lair.
Banning gambling is just as stupid as the "War on Drugs." They both create an underground network of gangsters who make obscene profits. People are still going to gamble if it is illegal just like they will still do drugs if they are illegal. Can't handle the stress of losing money gambling? Don't play. But taking the option away from EVERYONE is straight up retarded
Real Americans gamble on Wall Street, not Vegas.
The 'Slot Hold %'.....isn't that referred to as the Vig?
In any case, upwards of 8% slot hold seems kinda high to me.
No wonder my neighbors got back from Vegas last week and said they still had to keep their jobs. Only way to make a small fortune.....you know....
You wanna make munny in Vegas? Buy a Casino!
I was in LV last week and did extensive driving around the area and my seat of the pants observation were there were an incredible number of homeless people and some really shitting areas both commercial and residential. I guess some folks didn't get the memo in regard to how wonderful everything is right now.
Vegas gets into systemic trouble, and they say, "Oh, we can reinvent ourselves"...and it's worked several cycles back into the 1960's. But time's up; the original lot sale [5/15/1905@9:30 am] shows serious wreckage dead ahead. The lull in real estate carnage is temporary; if you're back to even...sell. And taking the "resources of others" since 1950, i.e. paychecks & water has definitely run its course. They'd do well to market themselves as a sovereign nation where sex-porn, medical procedures, and assisted suicide were all legal.
Seems the Atlanta fed gdp now is keeping their data current to the day.
https://www.frbatlanta.org/cqer/researchcq/gdpnow.aspx
What's the Big Deal?
When I want to gamble, I usually just ride up to Tombstone where I can almost always find Doc and Wyatt and the guys hanging out at the Saloon...
is that a non smoking saloon?
So it's due to "visitor traffic curbs and a full smoking ban"???
Sounds like "it was the weather"...
Russian roulette doesn't have a look in when measured against ussa hubris. Hookers, blow (blow and blow ) risk appetite and prop trading, off balance sheet items and creative accounting, deficits. The futures bright ( we have a nuclear explosion ready to light up our grey skies ) so why the long face John?
Steve Wynn says the economy is cooked up? Well he was one of the people who got him elected and now he is complaining about it? You know Steve, sometimes you just have to bite the bullet and accept the loss and go on with life. That and don't try to shirk responsibility for giving us the worst president in our countries' history! You and your casino make me sick! Baaaaarrrrrfffffff!!!!!!!!!
I'm wrapping up a four day conference tomorrow in Vegas. Haven't spent one nickel on gambling.
Put your kid's college fund on all the hard ways, one time for the juice , Yo 11 mother fucker !
Too busy with the hookers and blow?
You're a busy hooker who blows? Obama, is that you at your night job?
I thought I was the only person in the world who went to a casino and didn't gamble.
I go to Vegas to drink in public and behave badly where my neighbors can't see me.
B00Bs
Could be that Wall Street algos have entered the slot machines.
It's like a big prize fight in Vegas and Wynn walks out, grabs the mic and says: "It's all a fraud folks. Go home." Huevos!
"You can have the Vegas trim; those unnatural racks hanging pendulous and rock-hard as softballs, bleached blonde hair"
Yeah, no guy wants that!!! It was just one guy who spent 77 million dollars on the Pam & Tommy sex video. I guess baywatch stayed on the air for all those years because of Hasselhoffs sexy chest hair... Next time just say your prefer saggy tits and a fat ass, it sounds more believable.
Ossolinski has no clue that the best predictor of future behaviour is past behaviour, and that, if the trend of past behaviour indicates that the trend in question is measurably/empirically inclined towards going down for all future business quarters then, the best predictor is that there will be no noticable deviation from that trend whatsoever baring new information being brought into the calculus. ERGO, in three years [count em' Ossolinski] the empiricism indicates that there will be no blue sky on the horizon, or beyond, YOU retard sandwich eating ASSCLOWN.
NOTE: We have just evidenced 29 successive business quarters of contraction with the so-called 'brightest' minds in the biz scratching their fucking heads each and every quarter wondering when the dark clouds of DOOM will be lifted to actually show any fucking improvement in just one fucking quarter report out there, motherfuckers.
PLEASE believe me when I state that there will be no improvement in three years, or twenty five years. This is a complete collapse certainty that has been empirically demonstrated to _all_ the academics in the entire World and they know the entire World banking system is going to completely implode extremely soon.
In three years there is a high probability that millions will be dead from WW3 fallout all over the World and gambling revenues will _never_ return when that happens. Ossolinski is standing in an insolvent business empire that died in 2008 when all the Casino Ponzi schemes, and BIG Box Ponzi stores, started noticing that their bottom line was taking a hit that they had never planned on taking because in their minds housing prices never went down, ever, and that's how these Ponzi motherfuckers don't think.
Ohhh, it's just a dream deferred, huh?
C'mon Steve...your industry was NEVER one of the pillars of society. You are suffering because you are engaged in a business that parts people from their money. Money they no longer HAVE.
It's not rocket science. You are a parasite whose blood supply has been pinched off. No biggie. Go away and get a real job.
Once Lake Mead is empty...it really won't matter, now will it.
What's the worst that can happen? We are preparing for 100% increase in shares! After they go to zero, you know.
The American Curse >>> http://wp.me/p4OZ4v-3z
How dare Wynn state the truth!
Sorry, I have to agree with the guy who said we don't need to be a culture of gambling casinos. We're so bored with ourselves and so desperately in need of being entertained...that we stoop to what Shakespeare called the "high hope for a low heaven". We don't need more entertainment. We need to cultivate MORE DEPTH. In a deep culture there is no Las Vegas and no Disneyland. We need to become a culture instead of a dying civilization. We spend billions every year so we can be entertained. We need to grow up. Children need to be entertained. Adults entertain themselves, educate themselves. Las Vegas is a philistine eye-sore. Wipe it off the map: no loss.
You don't sound like a Murikan. More like one of those Commies we hate.
/sarc (Just for those who missed it)
America's biggest industries are movies, spectator sports, video games, and TV. It's all about the entertainment. Amusement. Diversion. Distraction. Frivolity. Immediate gratification. Laughs. Giggles.
Anything but real life and reality.
Yes, amusement. We're exhausted, in fact. We need the return of real life to wake us up from this imprisonment we are enduring. Imprisonment by wealth and comfort. Death by boredom.
Let's drink a toast to the collapse of gaming revenues.
We've reached the logical end of being driven through life by our lower natures who need constant sensual stimulation in order to feel alive. We are being led by men and women trying to please our lowest ambitions, our lowest ideals, our lowest dreams. Body satisfactions lead to boredom and desperate surrender to the reductionist's view that life is a low value, and the lower we get the more we are living. Let's drink a toast to the death of the low values.
Better a low hope for a high heaven than a high hope for a low heaven. Better to strive for something that is unseen and unattrianable than to settle for the heaven imposed on us by those with no imaginations and no taste and broken values and shallow pleasure religions. We are being led by people with no culture, no spirit, no morality, no vision. Settling for the lowest common denominator.
Entertainment is a prayer to escape ourselves and our own lives that are so shallow and arid we will do almost anything to escape ourselves and our own dismal mortality. Things change when they must change.
bread and circuses for all!
Nerobama
I went to Vegas in November. Most of the blackjack tables paid 6:5 on blackjack on the Strip. WHAT A FUCKING RIPOFF. They said they were doing it because they could. Said most people don't just sit down and play for an hour or so at a time. It's just young people and women who are waiting around for shows and shopping that don't know what they're doing. They put down huge bets and leave within 3-5 hands.
Then Ceasars... playing at a $50 min table. 1 deck shoe. They changed dealers mid shoe. Wouldn't play out the shoe. Didn't hit their little card or whatever. Pit boss said "tough". I said "you're cheaters, fuck you. I'm never coming back here."
The huge casinos in the middle of the strip are for suckers.
Craps and roullette are the only things worth playing in a casino.
And for you holier than thou, I get the same feeling betting the hardways as I do buying stocks. It's not "investing". You just have more opportunities to pull your money off the table before you crap out.
Maybe more people have realized that Las Vegas (and gambling) is a honeypot for losers.
the best thing about all this bad economic news is i will have the river to myself this summer as the broke flatlanders stay home this summer.
Macau cannot compete with their stock market.
The massive price distortions of every asset class and loss of true price and risk discovery currently taking place due to worldwide central bank interventions have never been seen before on this planet.
Gee, another cabal-run industry (right after the MSM) that is destructive to European culture bites the dust.
I can't even muster up crocodile tears.
Wynn has a dust tsunami headed towards vegas as mead dries up and he's beginning to squeal. The prospects for Vegas are stunning if the water is gone.