Casino CEO Wynn says he’s afraid to build in Las Vegas because of Obama

[Newsjock]

Source: Las Vegas Sun

Wynn Resorts Ltd. CEO Steve Wynn says he’d like to partner with some friends to develop another megaresort on the Las Vegas Strip, but he hasn’t done so because of what he calls President Barack Obama’s anti-business attitude.

In an interview with Las Vegas political journalist Jon Ralston on the “Ralston Reports” show this week, Wynn also expressed support for Mitt Romney while criticizing Democrats including Rep. Shelley Berkley and Sen. Harry Reid.

... “I’m afraid of the president. I have no idea what goofy idea, what crazy, anti-business program this administration will come up with,” Wynn said. “Every business guy I know in the country is frightened of Barack Obama and the way he thinks.”

... Wynn said Romney “knows how to use human resources — when to hire, when to fire, when to invest, when to sell.”

Read more: http://www.vegasinc.com/news/2012/oct/10/wynn-says-hes-afraid-build-las-vegas-because-obama

[Politicalboi]

1. Oh, poor multi Billionaire

He may lose some money in his tax returns.

[Floyd_Gondolli]

2. That's okay

I think Vegas will survive without another mega casino. But thanks, Mr. Wynn.

[JDPriestly]

19. Last thing we need in this country is another casino.

Can't stand gambling. It's a trap for the easily addicted.

People who earn their livings from other people's addictions are the lowest of the low. That goes for you, Mr. Wynn.

And the so-called Christian right supports the scum that profit from casinos. Makes no sense to me.

[Raster]

23. The christian right supports scum like wynn because their real god is money.

[Lifelong Protester]

30. Ya beat me too it.

My thoughts exactly.


Boo-f******-hoo, Mr. Wynn.

[Blue_Tires]

34. Not only that, they are net drains on a local economy (much like some megachurches)

They suck a LOT of $$$$$$ out of the community with little or no re-investment back...

Although I know Vegas as a city is a different case because there's so much other stuff to draw people other than just gambling...

[WilmywoodNCparalegal]

38. Ouch... there are plenty of people who live here in Vegas and make a good living working

for the casinos and resorts. I am one of them (not Wynn though). As an aside, for the past few years gaming revenue is actually down, but spending on hotels, conventions, restaurants and shows is up. Not everyone who comes to Vegas gambles.

Vegas is fun if you're a tourist or a resident (like I am) - outside of NYC, it's hard to find a place that has a bit of everything, and I love the weather.

[hifiguy]

42. I visit Vegas every year for the Consumer Electronics Show.

I've covered it for magazines and now a website for 15 years. It's a fun place with great people-watching, great food of all kinds and a certain anthropological fascination about it. I always feel like Margaret Mead amongst the Pacific Islanders when I am there.

I gave gambled there once. I stuck a quarter in a slot machine at the airport and won 75 cents. Winner, winner, chicken dinner!

[JDPriestly]

73. I avoid the place but had to change planes there once.

Even in the airport, it's wall-to-wall gambling machines. Ugly, depressing. Completely negative culture of greed. That was my impression. Resorts, shows and good food are, I'm sure, great. Gut you could have all that without the gambling.

[gollygee]

3. Oh, poor baby

It sounds like he's gone completely broke during these past four Obama years.

[HughBeaumont]

45. . . . I know you're being sarcastic . . .

. . . but for the lurkers . . . .

WYNN, since March 2009, is up 581.52%.

So that orange veneered mobstah can suck it.

[dchill]

76. Yeah, but that 581%...

Should a been a billion%!

Obama's making Stevie cry!

[DisgustipatedinCA]

4. by all means, add his name to the prayer circle right away.

I never knew Steve Wynn was having such a difficult time of things, poor lambkin.

[HangOnKids]

44. Laughing Here In My Living Room!!!!

Thanks! And

[DisgustipatedinCA]

49. Hey. Are we looking at a Bay Area Series this year?

[Retrograde]

64. No! Remeber what happened the last time!

That aside - Go A's!

[HangOnKids]

74. Gritty Play By Both Teams Yesterday

Down to one game. Go A's and Giants!

[DisgustipatedinCA]

75. Yesterday and today...it may happen yet. n/t

.

[Quantess]

5. Dammit! Because we have a dire shortage of casinos in Las Vegas...

/sarcasm

[CakeGrrl]

6. These execs are really pushing the "No business until Obama's gone" meme

Wonder if he'll sit on that venture after POTUS is re-elected? Nah, he'll find the 'courage' to go forward and part with a few more tax dollars.

[Cha]

40. Exactly! They're Crying Croc Tears in their

Champagne!

[AZ Progressive]

7. What BS. So many corporations have made record profits during the Obama Administration

It seems to me that Steve Wynn is saying this just because he wants to keep his tax cuts.

[OldDem2012]

8. Wynn's long on bs, short on facts. nt.

[AndyTiedye]

9. He Has Just Given a Whole Lot of Potential Customers a Good Reason to Stay Away

[quinnox]

10. talk about goofy, steve

ever take a look at some of your casinos?

[Ikonoklast]

11. No problem, the vaunted Free Market will fill the gap.

Wynn can sit out and watch someone else fill the need, he ain't the only player in that game.

Dumbass doesn't even believe one word out of hiis own mouth.

[AZ Progressive]

12. Vegas DOESN'T need another mega resort

They already overbuilt during the last construction boom.

[LeftinOH]

13. Oh, FFS. What "anti-business program" is he talking about?

[Scootaloo]

18. You're not expecting specifics, I hope.

It's just pushing a meme; "Democrat = Anti-business"

[jmowreader]

65. The one that won't repeal corporate income tax

[ieoeja]

14. They have all but declared war on the United States.

And Americans fucking support them. I would expect this to piss off even the most staunch rightwing conservative.

[Initech]

15. I'm afraid of the billionaires - they've gone completely berserk.

[DJ13]

28. They've become tax cut crack ho's

They always want more, any way they can get it.



PS- I meant no offense to real ho's.

[spanone]

16. hey steve, what 'goofy, what crazy, anti- business' shit has the President done? name one?

fuck you. the republicans fucked up the economy, including las vegas, and you want to blame it on Obama....FAIL MOTHERFUCKER

[randome]

17. He's trying to extort tax breaks from Vegas with this idiocy.

[november3rd]

20. That's what they said about FDR

So he explained to the country that since "job creators" didn't want to put people to work, the government was going to put people to work. He created all those great public works programs that vaulted our country out of the depression and into the forefront of the 20th century.

[abumbyanyothername]

39. And what would be the 21st Century equivalent?

I have my own ideas, but I want to hear yours. . . .

[unblock]

21. wild, made-up fears of what a black man might do to them. i wonder why they're afraid?

right-wingers/republicans have always described democrats as "anti-business" (though even that is ludicrous).

but really, "goofy" and "crazy" and "frightened"?

[sadbear]

22. Too bad the stock market doesn't agree with him.

[bluestate10]

24. Assholes like Wynn, the Kochs, Adelson,

are the reason why more liberals and moderates should start or buy up businesses. I know there is an anti-capitalism strain on DU, but the impact of not having progressive people with money to counter rightwing bastards is that we will always be at a disadvantage. Having money is not evil, doing wrong with or for money is evil.

[leveymg]

25. What is it with these Right-wing creepy Mob Boss types in Vegas this election?

Please, guys, go back to shaking down local Sheriffs and councilmen, and get your noses out of national politics.

Hey, we're all legit businessmen, now!

[BarackTheVote]

26. I’m afraid of these CEOs

I have no idea what goofy idea, what crazy, anti-American practices these executives will come up with,

See what I did there?

[Great Caesars Ghost]

27. This coming from a guy who tried.....

to take dealers tips and give them to upper management!

[City Lights]

29. What a steaming pile...

[BlueJazz]

31. "Obama’s anti-business attitude" means...

...we don't get to fuck over everybody that comes in contact with us...plus we have the
pleasure of ramming a 2X4 up all their asses.

[liberalmuse]

32. Poor, POOR billionaires and millionaires.

Whatever will they do if President Obama is re-elected? What will they do if Romney doesn't win? Who will toss more millions and tax breaks at the 1%? What'll they do? What'll they DOOOOOooooo????

[brush]

33. And the market is up 100% under the President

Yeah, Wynn is crying all the way to the bank with his stock way, way up. And he doesn't care about Vegas anymore. Him and Adelson both couldn't give a sh it about Vegas now that they've put a lot of their money in their Asian properties. What the hell do they care about us here where they got their start and made all their money. Until they discovered Macau, that is, and used allegedly shady associates to get government go-aheads to build casinos over there within easy traveling distance of billions of people, not the mere millions here. He ll, Adelson is under investigation for that right now and is backing Romney who he expects will drop the investigation in exchange for all the millions he's plowed into Romney's campaign. Screw them both.

[badhair77]

35. This comes from a guy who paid $39 mil for a Picasso

and was going to sell it for $139 mil till he stuck his elbow thru it. Not a big deal . . .

He certainly belongs in Romney's league.

[Viking12]

36. Knowing "when to hire, when to fire, when to invest, when to sell" are not qualifications for POTUS

[abumbyanyothername]

37. I suspect that when Harrah's and the Rio

stop sending my wife "free room" vouchers every month, meaning that current capacity has filled up, we will see more rooms on the Vegas strip, whether Steve Whyne builds them or not.

Until then, Las Vegas, has to be one of the most over capacity housing units places on the planet.

[mojo2012]

41. Greed

Just never can have enough money...more, more....well if the middle class gets screwed under Romney/Ryan, no one will be coming to his casinos anyway. Unless he forgot who makes him his money. Maybe he can ask Adelson to donate to his cause. Two peas in a pod

[brettdale]

43. Maybe why Garth left

Garth Brooks plays at the Wynn and was schedule to do so until May 2014.

Last week he announced he is doing no more shows past November this year, he will finish with a schedule show in November he didnt give a reason why.

Garth is a big President Obama supporter, I wonder if that is why he has pulled out of the Wynn Contract, lately Steve Wynn has been bashing President Obama alot.

[Sen. Walter Sobchak]

46. If he is afraid... it is because of the shadow this thing is casting...

[Kristina A]

54. exactly!

sorta new here & don't have the time to post a lot, unfortunately ... but thanks for pointing this out. I live in Vegas and you're spot on.

I'm also originally from NC and in the article, I wasn't sure what to make of Wynn "mocking" the southern accent of Dina Titus (from GA). What an ass. Wynn imploded several historic casino's here in Vegas to build his resorts so hopefully in the future, while he's "scared" of the president & spending his days in Macau, someone will implode his and restore the ones that made Vegas a destination in the first place.

[HughBeaumont]

47. WYNN, as of March 2009, is up 581.52%.

For all of his "I hate President Black DemoCommie because he doesn't kiss my pinky ring" bullshit, it's not like he's doing half bad.

Oh, and in Bewsh's second term, WYNN stock returned a paltry 30% in comparison.

I think all that spray-tan's doing something to your brain, you Wayne Newton wannabe!!!

[JI7]

48. This Guy is under Federal Investigation for trying to Bribe some Foreigners

concerning some business matters.

[former9thward]

57. You are thinking of Adelson.

Adelson's casino has been under investigation for possible bribes in China for about a year now. http://www.haaretz.com/news/world/report-adelson-under-criminal-investigation-for-alleged-bribery-of-foreign-officials-1.409869

[arely staircase]

50. then don't build. who could possibly give a sh*t?

I am sure there are other real estate developers in las vegas.

[abumbyanyothername]

53. Not these days.

Vegas suffering a glut of overcapacity.

[arely staircase]

59. in what?

hotels booked up? what does that mean? i haven't been there in a couple of years.

[abumbyanyothername]

61. More hotel rooms than guests.

No need for any more building. For perhaps as long as 50 years.

[arely staircase]

62. so this guy saying he isn't building because of obama is like me saying i am boycotting olive garden

in a town that doesn't have one.

though it does sound like i ought to be able to get a good deal at the mgm grand.

[Turbineguy]

51. This seems to be the new method

If you don't vote for Romney, the Job Creators will lay you off.

Shades of John Galt. Except for one tiny difference. Who are "The Looters"?

[regnaD kciN]

52. He should be afraid to build in Las Vegas because he f***ed the place up...

...by overbuilding over the past twenty years. Now, there's a glut, and hotels are no longer a sure thing financially. Don't blame Obama, Steve...try looking in a mirror.

[Kristina A]

56. well said!!!

Wynn spending time in Macau would be a good thing in the long run ...

[L0oniX]

55. Total 100% pure bull shit fresh from the bulls ass.

If anything he or anyone should be afraid to invest there because it is the worst place in the US for the housing market ...thanks to Bush and his bankster buddies who tried to destroy the USA in order to fill their off shore bank accounts.

[MineralMan]

58. Steve Wynn should be afraid to build a new casino

because he's screwed up every one he's built so far. Vegas has more casinos than business will support already. It has nothing to do with Obama. It has more to do with *Bush and his failed economic ideas.

Steve Wynn is a moron. A rich moron, but a moron nonetheless.

[Aristus]

60. Dipshit.

One could imagine that even a marginally-talented businessman would know that corporations all across the country are pulling in record profits.

Yet, this hamhock seems to think that this is a bad climate in which to launch a business concern.

Like I said before:

Dipshit.

[Dawson Leery]

63. Mr. Wynn, Las Vegas has been overdeveloped by people such as yourself.

Regardless of the President, you will not be able to build any new casino as the market is already saturated.

[LadyHawkAZ]

71. ^This. n/t

[Retrograde]

66. I wouldn't build in Las Vegas either

Hasn't the market for casinos hit the saturation point by now? Who's keeping all of them - and not just the Vegas ones - in business?

[nc4bo]

67. These are the jagoffs that Plouffe should be telling to quit being bed-wetters, not us.

Big fucking 2-year olds, this guy as well as the one who owns the time-shares and is threatening his employees that they'll lose their jobs if Obama wins.

Really.

[WinkyDink]

68. People are merely "human resources," like iron ore.

[Callmecrazy]

69. My thoughts exactly.

It sounds like a veiled threat that if you don't vote for Romney he won't build any more resorts.

As one of those people who built his resorts (I'm an electrician), I have to quote the line from the movie "Field of Dreams" - If you build it, they will come. There is still a lot of undeveloped land up and down Interstate 15 and the building will continue as long as there is enough water to supply the residents and tourists.

Lack of water is the only thing that will stop the growth in Las Vegas.

Just ignore him. He's always been a little "off" anyway.

[BeyondGeography]

70. Let's see, Fontainebleu is 60 stories of scrap iron, Echelon stopped construction

City Center just about put MGM in bankruptcy, Cosmo is a flop and Wynn makes about 80 percent of his profit in Macau.

You won't see another major project in Vegas until the end of the decade, no matter who is President.

Fuck you, Steve.

[DonCoquixote]

72. I can appreciate gambling

However, the fact is, Wynn should know, like any casino owner, that your fortunes are built on the MIDDLE CLASS having DISPOSABLE INCOME. It's no accident that the Mafia had to steal from UNION funds to make them.

Then again, Wynn, like Addelson has been lured to Macau: the promise of billions of people,and a government that will gladly grind people into sausages because they know they need some little diversion to keep their masses from panicking and asking "Hey, I make Ipads, but have no chance in hell of affording one, much less my rent!" It also helps that said government has a centuries old tradation of bribes, even though Beijing is trying to cure that.

Keep in mind, Wynn was the guy who demolished old casinos tomake way for the ultra-rich playgrounds. He bought the art so that he wouldlure the "Whales", the ultra ultra rich for whom a Million dollars is an evening's dinner. However,there are two problems with catering to those folks: One,there is always some new playground ready to open for them, with more whistles. Imagine what will happen once they start making City-states that are under corporations? Second, those clientlele are NEVER happy, because a large part of their existence is seeking that one new jaded thrill that hides the fact they are empty inside. You could make a mountain of diamonds, and they will want platinum on top.

[SoCalDem]

77. Wrong-O..He's "afraid" to build in Vegas because

It's already seriously OVERBUILT, with thousands of "extra" rooms to fill..and the suckers customers who used to go there all the time to unload their money, are now gambling at casinos closer to their homes, or are just not gambling much anymore.