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Sept. 21, 2009

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Total Comments: 4 (view all)

Bill-Owl, how did Wynn ever destroy Las Vegas. What I think is that you don't get the idea of business and expanding to attract a larger portion of the market. Do you actually think that tourists would come to Vegas to see the same hotels and casino's they saw 50 years ago? You say they want to have fun do you think they had night clubs back in Sinatra's days. Nothing much else has changed but the size and cost of these buildings. I have to admit Adelson is a bigger fool than all the others gathering so much debt. Also maybe you haven't heard about the bad economy. Maybe I should explain it to you. Maybe if half of America wasn't dumb enough to buy a 500k house with a 50k household income and the banks actually let them do it, all of this wouldn't have happened. But since it did happen it caught all these debt loaded companies off guard. How is a company suppose to get a profit when it has 10 billion dollars of debt and when they're paying so much interest per quarter. And how could I forget those 5 million dollar bonusses to all the execs. Las Vegas resort companies have to smarten up like most have and then bill_owl you might get what you want. You might not see anything change on the Strip for 10-15 years.

(Suggest removal) 10/29/09 at 7:44 p.m.

dgump I would like to ask you for the formula to calculate the value of the property because I am very skeptical about your calculations. i don't believe that both Encore and Wynn are worth less than Bellagio. You also contradicted yourself by saying bellagio is worth more when you said it couldnt be sold for 1.5 Billion. So then shouldnt Wyn and Encore be worth less than 1.5 billion.

(Suggest removal) 10/16/09 at 7:28 p.m.

dgump you may be right about desperation and it trying to attract middle class people but the part of his resorts being worth less then his debt is completly absurd. If you would ever bother to look and analyse the balance sheets and all the other financial stuff for the company you would then notice that Wynn Resorts is one if not the best gaming company out there. He has 1.5 billion dollars of more assets than he has liabilities and for a company that has only 3 hotels I would say that is pretty good. Also he is paying most of Encore Macau off of income which means little debt a lot of equity and ownership.
I have to agree with westvegas that all these red necks and other low class people would not give the wynn or encore the image it deserves but isnt the low to middle class the biggest class in america and shouldnt they get a flashy show in vegas devoted to them. If thats what it takes for wynn to make money thats what hes gonna do. and for the 125$ if he didnt want to tell how much he is paying the guy im assuming its too much especially after he bought the guy a private jet. He has to get his money somehow. He can't just wait and hope people that come to the show are gonna eat and gamble at his hotel. Gamble maybe but I doubt a guy that gets payed 30k a year wants to spend 200$ for two at Stratta or SW where a steak is 75$.
To siromega how are scalpers going to resell the tickets when the hotel asks for a id for you to get into the show. How are the scalpers gonna buy the tickets with their id then sell the tickets to another person who looks completly different and has a completly different id. Most people who are going to the show know that they need an id to get in so they wont waste their money on a 500 or 2000 dollar ticket from a scalper.

(Suggest removal) 10/15/09 at 8:18 p.m.

Nice math buddy. 160.000 - 12.000 = 148 000. Not 150,000

(Suggest removal) 9/21/09 at 1:33 p.m.

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