Two Way Hard Three | Las Vegas Casino & Design Blog

Molly,

The first time the dealers signed the union cards they received 400 back. This is when the Teamsters were showing interest a couple of months ago and was more than enough for the NLB to grant them a vote.

Beginning last Friday, the 26th, the United Auto Workers which represent dealers in Detroit began passing out cards and it appears they already have enough signatures to begin the process.

Starting tommorrow President Andrew Pascal begins the mandatory meetings with the dealers (most likely to talk them out of unionizing).

If you like I can send you the emails I have been receiving from the two guys who have put this all together. I receive about 4 a day so they're always the most recent news.

The most disconcerting thing for me is that Wynn and his lawyers have begun meeting with the state labor commissioner to re-word the tip law so that he can "legally" take the tips.

The Gov of Nevada appoints the labor commissioner so it won't help to complain to him.

Does anyone know ANYONE outside of NEVADA who has the capability of investigating/axing the Nevada commissioner, a person who is SUPPOSED to be working for US, not a rich casino tycoon?

Molly

Well, Steve Wynn gave himself a raise:

http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-SECText&TEXT=aHR0cDovL2NjYm4uMTBrd2l6YXJkLmNvbS94bWwvZmlsaW5nLnhtbD9yZXBvPXRlbmsmaXBhZ2U9NDYzMjUzMSZhdHRhY2g9T04=

Now $3.25 million a year... Does this mean that good earnings are about to be announced?

When do the 4th Quarter earnings start coming in for the gaming companies...is it next week?

Some next week. I think LVS is 2/5. They just announced the date.

Posted by mike_ch

I haven't been reading all the latest comments lately because I only just got back and I picked up an illness along the way keeping me out of action, but I'd just like to say that everyone on all sides of this issue has been acting very greedy and disgust me.

Which isn't to say that every side doesn't have a good point worth putting forward at their core, but the behavior from Wynn, the union shills, the NEVADA CONSPIRACYOMG~! people, and so on is turning the whole thing into a circus and we STILL DON'T KNOW ANYTHING for certain.

Posted by detroit1051

More on Wynn tip issue:
http://www.reviewjournal.com/lvrj_home/2007/Feb-02-Fri-2007/business/12288152.html

I have the perfect solution to resolving this problem once and for all and getting both sides to shut up and stop whining - I am going to stop tipping dealers, period. If you're going to fight like bickering children over my money, neither of you are going to get it.

Here is David McKee's take on Wynn's "raise" as reported in today's Business PRESS (last paragraph).

http://www.valleyblogs.com/mckee/2007-02-01/id_2042

McKee additionaly brings up some really good points regarding Macau's long-term problematic ability to shed its past criminal history which is starting to give [all of] the major U.S. operators there a really bad rep. In order to discredit Wynn Resorts' contention that their dealers are the "highest paid in the city", remember when the late, infamous 'Prince of Whales' Kerry Packer gave a 'single' dealer at the Bellagio a $1 MILLION toke? At least MGM did the righteous + respectable thing by EQUALLY distributing that $1M among their 800 or so DEALERS only! This never would have even been a remote possibility had it happened at WLV, even before the new tip policy. BTW - It is definitately a rather inopportune/suspicious time for Wynn to give himself a rather paltry rasie of 500 large BEFORE the '06 Q4 earnings are soon to be reported. With the stock trading at an all-time high, the continuing rumors that Jacko will be signed at WLV exclusively, in addition to all of the ongoing federal labor complaints + potential ADA violations, etc. are really a major concern to analysits. At the current stock price, "the proof is in the pudding", that should otherwise result in WYNN announcing a 2 for 1 stock split like MGM had done when it reached 102. Highly unlikely to occur anytime soon with WYNN. Whoever is buying this security at 110 or so is either smoking crack or in need of some serious mental health intervention!

Leonard you are the only guy on here who uses the year-long steady increase in Wynn's stock price as "proof" that the company is going to fail. What would have to happen to the stock for you to conclude that the company is competitive and sustainable?

On a more objective note, what "potential ADA violations" are you alleging at Wynn? Are they personal observations of yours or have they been mentioned elsewhere?

....damn, I should've dumped that junk at $90.... ;-)

Chris: This link was already provided here. I personally am not the one claiming that WLV has serious multiple ADA code violations, but it just so happens that two expert professional ADA consultants have alleged + subsequently sued WLV for flagrant ADA violations property-wide:

http://lvbusinesspress.com/articles/2007/01/29/news/news_update/doc45be676cc1cf3051754389.txt

District Court judge throws out Wynn's claim for reimbursement of his legal fees stemming from the two dealers' lawsuit. Looks like Steve will have to ante up that whopping $75K fee himslf! Wynn had no chance in hell of prevailing by having his lawyers bring such a ridiculous claim that had no legal foundation whatsoever + this only serves to further tarnish his already rapidly fading reputation by proving that he is a far better "bully" than businessman. Note to Steve, start paying more attention to running your money-losing gaming company + become profitable, like the rest of your competitors, instead of wasting valuable assets on creating frivolous + malicious litigation over such petty matters.

http://www.reviewjournal.com/lvrj_home/2007/Feb-09-Fri-2007/business/12489590.html

Posted by mike_ch

It seems to me that kind of thing is a fairly standard practice no matter who you are. Microsoft makes tons of money, but I'm sure they asked for some reimbursement for keeping the government off their back. Doesn't mean they get it or should, but you can't blame them for asking.

mike_ch: Actually this is NOT standard practice in civil cases! Only in matters where planitiffs brought totally frivolous actions that where designed + determined to have been specifically for malicious harassment purposes only + then in addition wherby the court rules that, as a result of the suit having baseless legal foundaion, would [the court] otherwise award attorney's fees to the prevailing party. Exactly as I had said before, the District Court's decision to invalidate Wynn's baseless reimbursement suit, when considering the impetus + the weight of the legal argument of plaintiffs case, which was indeed rooted on solid legal foundation. Trust me, I am very well-versed on this sort of stuff + the judge's ruling was virtually verbatim in what I had earlier predicted. Wynn comes out looking like nothing more than a "vindictive buffoon" at the end of the day (which he indeed has proven himself to be on many occassions) by bringing these sorts of lawsuits that substantially amount to nothing more than pure B.S. + a total waste of valuable resources. BTW - it appears that WYNN is starting to show signs of experiencing a major correction in share price, it lost more than 7 points today alone! Keep up the good work Steve!!!

Posted by mike_ch

Leonard, I think you misread my post. I didn't say it's standard practice for the court to award attorney's fees. I just said it's standard practice to ask, even if it's unlikely to be approved.

Is that uncommon?

"BTW - it appears that WYNN is starting to show signs of experiencing a major correction in share price, it lost more than 7 points today alone! Keep up the good work Steve!!!"

LVS-Down 5.99%

MGM-Down 4.17%

WYNN-Down 6.38%

Seems like every gaming company involved in Macau is down quite a bit today.

Well, its entirely unrelated to the Wynn dealer issue but the casino within the Grand Lisboa opened today and was (like most openings of the larger casinos) extremely well attended, so might not be surprising if there is some further pressure on LVS and WYNN in the short term - though once the Venetian opens LVS should get some respite. Not sure what Wynn's next trick will be in Macau, but he better get moving on it. I'm staying at Wynn Macau later this week so should be able to send a decent report next weekend.

Posted by detroit1051

Jeff Simpson in "In Business Las Vegas" has a different take on the Wynn tip/dealer issue than we've seen before:
"It is working exactly as we planned," Wynn said. "Tips are increasing, our dealers are still the highest paid - not just in the city, but in the world - and our most experienced dealers are volunteering to work as supervisors."
http://inbusinesslasvegas.com/2007/04/06/gaming.html

detroit: Yeah, I read Simpson's piece in the SUN In Business cloumn this morning + had to laugh. Wynn is an absolute master of spin + this interview with him couldn't represent a better example of his expertise in that regard. First off, the majority of the almost 600 dealers that were hired originally by WLV were 'very experienced' + left extremely lucrative long-term positions with other major gaming comapnies in order to be hired as dealers @ WLV when the property first opened. As a result of these "qualified + experienced" dealers having to abandon or otherwise forfeit their SENIORITY position with their former employer's, they now find themselves caught Between a Rock and a Hard Place, since they have absolutely NO OTHER choice but to remain with Wynn Resorts. If ANY of them decided to quit now on their own volition, as a direct result of this ongoing toke crisis, they would have to start at the very bottom all over again! Many of these experienced dealers are not so young anymore, they have, in essence, voluntarly handed over [their] entire earnings future to whatever, "potentially challenged", illegal tactics Wynn Resorts has decided to impose upon them. Steve says that the current toke policy should have been part of the [dealer's] original contract when he first opened the resort. GMAFB! What a bunch of B.S. Steve knew exactly what he intended to do + waited until after it was too late for any of these employees to do anything about it! I have personally had conversations with more than a "few" current WLV dealers who have indicated to me that their annual income will now result in a decrease of earnings that could easily result between $15K - $40K/year as a direct result of the new toke sharing policy with management. Steve is so full of sh*t it makes me puke!

Posted by detroit1051

Wow! It didn't take McKee long to respond to Simpson's piece. Simpson may be a Wynn booster, but McKee clearly has an anti-Wynn agenda, imo.
http://www.valleyblogs.com/mckee/2007-04-07/id_2216

Posted by detroit1051

Leonard, do you know McKee's background? Has he had personal experience with Wynn as you have? I'm curious what motivates McKee.

detroit: I have absolutely NO personal background/connections or knowledge regarding McKee or his qualifiications as a journalist, however, he has been a regular editorial contributor to the Business PRESS for quite some time now. I DO agree, however, that some of his most recent articles have not exactly been "confirmed" nor otherwise accurate + he has recently been forced to publicly apologize for reporting this misinformation on two occasions now. I can confirm that the majority of his "anti-Wynn" articles which he has previously published, to be reasonably accuracte. Honestly, I personally know a whole lot more than [he] does regarding Wynn Resorts' future plans. So far, the ONLY thing McKee has been totally off-base on was the report that Wynn offered Ruffin a deal that "he couldn't refuse" to purchase the New Frontier property for a ridiculous per acre price. I never, nor do I now, consider Steve Wynn to be the best businessman, however, who in their right mind would pay ovet $51M/acre for the New Frontier property? Wynn has managed to secure the last remaining parcel of the former D.I. golf course property, however, I can assure you with absoluute cetrainty, that Steve will not do anything with the existing D.I. golf course property, after spending $450M to completely redo the whole thing, until AFTER 2010. Steve is now attempting, for the sceond time, to absorb the Las Vegas Country Club golf course property in anticipation of "Wynn-City", won't happen!

You can't put so much weight on McKee's blog after he EMBARRASSED himself last April fools and then ran a low-class rebuttal taking shots at VT to hide his own idiocy. The man is clearly one-sided with a personal axe to grind. I smell a (well-deserved) lawsuit against him any day now.

Call me shallow or gullible, but from the superlative service I saw two weeks ago giving good time at Wynn's tables, I believe every word of Simpson's article. I can't say I saw the same level of service from any MGM Mirage property having given a little time at Mirage, Bellagio, and Treasure Island. Don't throw out the whole "fear of termination" spiel. This kind of service is a direct result of good pay, excellent benefits, and high employee morale.

Mike E: WLV dealers are no longer the highest earners, Steve is so full of crap it's ridiculous! If they [the dealers] can wait it out until the end of 2009 there will be a mass exodus from WLV/Encore when CityCenter + Palazzo open for business. Wynn is a complete idiot to believe that his property pays dealers an average of "$100K/year" when in fact, as a result of the recent toke policy revision, many WLV dealers are now losing between $15-40K/year in revenue. A couple of years ago, after one of the late Kerry Packer's gambling binges @ Bellagio, MGM/MIRAGE properly divided a ONE MILLION DOLLAR toke among the 800 or so Bellagio dealers EQUALLY! Do the math for yourself, only the DEALERS received their fair share, not management! This was just ONE day of play for Packer. WLV dealers are getting screwed + they can't do a damn thing about it until these future superior properties are launched. I will guarantee you that Steve will then be forced to offer his remmaining "best" dealers major incentives to even consider continuing to stay with Wynn Resorts.

Posted by mike_ch

I'm too choked up to post, because of that story that Leonard told about people who left senior positions at other resorts to work at WLV and had Steve's new policy sprung on them.

Even if turns out that all the complaining, accusations, and claims of poor conduct of Steve Wynn is 100% true, then all I can say is if you have specifically chosen to work with the devil himself, it's likely you're going to get burned.

If Wynn shared a high roller's tokes with every dealer in his casino, you'd say that he screwed the high limit pit that rightfully deserved those tips. Face it: MGM Mirage SCREWED their high end gaming staff by giving the tips away to dealers who had absolutely no contact with Packer. Don't tell me the guy dealing at the $5 blackjack table Bellagio always has available deserved ONE CENT of that tip. The only people who a majority of that $1 million should have rightfully gone to were the dealers in the private rooms. I'm surprised they weren't fuming in the same manner Wynn's dealers supposedly are now.

You were quick to jump on Wynn after unconfirmed rumors of boxmen getting fired, but while we're on the subject of Packer, why don't you mention how several hosts, dealers, and pit were fired after he took MGM Grand for $26 million in 1997?

This isn't me bashing MGM Mirage. I like a majority of the work they do, but if you're going to rake the muck in the casino industry, rake it equally and without bias.

McKee sets the record straight by responding to Steve's complete + utter B.S. spin in Jeff Simpson's piece. GO McKee! Steve is digging himself into a deeper hole every time he opens his stupid mouth. When will this mega-moron realize he no longer rules the roost in Vegas anymore.

http://www.valleyblogs.com/mckee/2007-04-07/id_2216

Well, Leonard, at least Simpson doesn't post outrageous stories about unheard of land prices without thoroughly checking his sources. For me, as of now, anything that McKee posts on HIS gaming blog is suspect. I mean, for God's sake, he also had to apologize again this week for misprinting that Isle of Capri Casinos had purchased the Casino Aztar in Evansville. The man is clearly, in no way, a professional journalist and it is not only evident, but obvious that he has a personal axe to grind. Honestly, Leonard, why should any of us believe that he is "setting the record straight" after all of the misprints he's made and all of the retractions he has had to post after said misprints?

John: The simple answer is that Jeff Simpson is, again, + I must emphasize that this is only "speculation" on my part, either on Wynn's payroll or he is just another Wynn minion Kool-Aid drinker as are ALL of Steve's executives/followers. This is a highly improper position for a supposed "non biased" reporter of two major publications to be in. The fact that Simpson is the executive editor of "In Business Las Vegas" as well as the business editor of its sister publication, THE LAS VEGAS SUN is very disconcerting. I cannot speak on behalf of the editors of the Business PRESS, but obviously McKee has been a regular editorial contributing journalist for quite some time, despite the recent misrepresentations which he has already acknowledged. That does not necessarily make him incredible. If [he] were not credible, then I would assume that the editor of the Business PRESS would have terminated him quite some time ago. Our Governor, Gibbons (who is currently under investigation by the FBI for potential felony corruption) appears to be in Steve's pocket, as were just about every other state + county official over almost three decades. Even if the [Beers] legislation is passed, Gibbons will no doubt NEVER sign it into law. Regardless of McKee's questionable articles in the past, he is 100% right on the mark in connection with [his] position on Wynn + Steve's potential illegal tactics. John, I am willing to bet my own life on this one, Steve Wynn will eventually be brought to justice or otherwise be forced out of the industry altogether at some point in the near future. Honestly, you guys don't even know the half of it. Trust me, I do! The man is a maniac, + "appears" to continue to cast a shadow of obvious corruption upon a now totally legitimate gaming industry. However, if any of Steve's minions are following this forum, please tell Wynn that for $200K I promise to "sing his praises in perpetuity". Hey, everyone has their price. LOL

You said Wynn spent 450 Million on the golf course? Where did you get that figure from? They spent about 30 Million remaking the course. Unless you are counting land cost, and if so, that does not even count. They needed the land anyhow. Also I notice in VT&T, Wynn just picked up even more land. He must not plan on going anywhere. He must be moving ahead with the golf course development after Encore opens, just as he stated he would.

"construction of the new golf course at a budgeted cost of approximately $23.1 million"

This is from SEC filings from Wynn Resorts, the link can be found here.

http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-SECText&TEXT=aHR0cDovL2NjYm4uMTBrd2l6YXJkLmNvbS94bWwvZmlsaW5nLnhtbD9yZXBvPXRlbmsmaXBhZ2U9MzMzNTQ4NCZkb2M9MSZudW09OA==

We aren't talking about Wynn's corruption or megalomanical issues here, Leonard. I think this has really turned into a discussion on the credibility of both of the city's most prominent business writers. I'm not going to say that Simpson isn't innocent in this crediblity issue, either. However, McKee and Simpson are the city's most respected business journalists and they are completely destroying their reputations.

Looking on this, though, it really looks like a hurrican in a tea kettle. This doesn't really matter, I think we're just making a huge issue out of nothing.

Posted by mike_ch

re: Credibility.

Simpson contributes to a Las Vegas business weekly owned by the Greenspun Corporation and their newspaper, LV Sun.

McKee contributes to a Las Vegas business weekly owned by Stephens Media Group. Which, by the way, operates a newspaper, the LV Review-Journal.

Aside from the fact that McKee's writing isn't printed in his employer's affiliated newspaper (no wonder, with the botches he's been having to apologize for lately) and the fact that Simpson holds an Editor position at the business mag while McKee is a staff writer who writes about nothing BUT gaming, what's the real difference between the two?

They're both working for each of the town's two biggest print/electronic media giants. One isn't any less connected than the other, as I see it.

Posted by detroit1051

Michael Eisner will interview Steve Wynn on CNBC Wednesday evening. Why Elton John and David Copperfield are part of the same show, I don't know:

Wednesday, April 11th, 9 p.m. & Midnight ET
"Conversations with Michael Eisner" goes to Las Vegas for an exciting line-up of guests interviews.
Elton John
Musician and Entertainer
David Copperfield
Illusionist
Steve Wynn
Resort Developer

Is he really going to be on? I've seen this come up in TV Guide several times but the show is never on.

I don't believe they show this in my market any more.

Posted by mike_ch

TitanTV and other guides are confirming this. The last time they teased it only the Eisner CNBC site (which has since undergone a Flash-y makeover) said it was happening.

Brian, that figure includes the allocated portion of land plus the new golf course development costs as well as the tens upon tens of millions he had to shell out in order to purchase ALL 90 or so of the existing D.I. golf course homes within the existing D.I. property, including the ten or so holdouts who each received an average of $2.5+ in the end, more than TWICE what Wynn had originally offered the homeowners in the very begining. In typical Wynn fashion, he used his usual bully-type tactics by promptly erecting a GIANT wall separating [his] property from the homeowners' completely blocking + obstructing any possible view of the golf course that hey had enjoyed for decades. In addition, he located a noisy cement processing plant for his new project [WLV] right next door to the homeowver's who refused to sell which operated 24 hrs./day. And, to make sure that they would be further incovenienced, he got county approval to realign the existing access road so that the ten homeowners couldn't even get to their rightfully owned properties without having to drive through a construction zone. Many of those homes were built as far back as the 1950's + several of those people were elderly + didn't want to relocate. I guarentee you, with absolutely certainty, Steve will eventually get what's coming to him because what goes around comes around + now he his recklessly throwing his "weight" around with the wrong people. A clear sign that Wynn just isn't playing with a full deck these days. Besides, Steve has really BIG plans for the golf course property that include seven high-rise towers, no doubt they will end up as nothing more than butt-ugly replications of WLV/Encore. I'm sorry, but Steve Wynn is nothing more than a walking, talking, sightless piece of human feces!!! And I'm really trying to be nice. LOL

Posted by detroit1051

"I'm sorry, but Steve Wynn is nothing more than a walking, talking, sightless piece of human feces!!! And I'm really trying to be nice. LOL"
Leonard, no, you aren't "really trying to be nice". You and McKee would each be more credible if you didn't let your hatred of Steve Wynn taint your writing. Don't let it consume you.
What evidence do you have that the "...seven high-rise towers, no doubt...will end up as nothing more than butt-ugly replications of WLV/Encore."?
By the way, McKee's Saturday column on Wynn has mysteriously had its title changed from, "His Master's Voice" to "Too Close To Wynn".

Posted by mike_ch

Oh heck, I'll support Wynn in the DI golf course thing just because it was a victory against homeowners associations, which happen so very rarely.

Breaking News Notice to all of you: I have JUST been informed through TWO reliable sources that the WLV dealers are going to unionize! It's a done deal people. Good going Steve (genius) you stupid narcissistic f*ck, now all the other major operators are going to have to allow the unionization of [their] dealers because of your reckless attempt at nothing but pure greed to try + extract every last dollar possible because your joints are losing money! Look at it this way, Steve has once again "revolutionized" Las Vegas, since dealers have never been able to unionize here in the history of the city. I guess you could call Wynn a true "visionary" in that regard. HA HA HA HA!

Seven Towers, did you read this off of the SkyScraperForum site? I didn't think Wynn had even began to work on those plans yet? Is he trying to answer MGM's PCC? Is he going to sell Condo's or are these all going to be hotel rooms? Tell me more!!!

Posted by mike_ch

Sorry, Leonard, but you're wrong on that one. Supposedly, they've submitted the paperwork to have an election. This will take a bit of time but it isn't a "done deal" since first the NLRB will have to confirm that the petition is being supported by 30% or more of Wynn's table workforce. Then, when that's completed, sometime within the next two months a secret ballot election is held.

Then a majority of these workers must vote in favor of the union. I honestly have my doubts about that. And then if management believes the election was held in an unfair manner they can present their objections and so on.

The result is that it'll be a while yet before anything, and I wouldn't be completely sold yet on such an event becoming common around town no matter what some of those union shills on a few well-known dealer boards are saying.

I should point out, if only to serve to gauge the level of support among Wynn employees, that this alleged petition wasn't even filed by anyone at Wynn, but by a bus & airline worker's union (remember the 2005 NYC strike? Exactly.) Of course, their web site says basically nothing except of their negotiation talks with various airlines, so nobody can even prove this is true.

mike_ch: First off, the correct number of cards supporting unionization @ WLV was actually 70% not 30%, higher than expected. Secondly, just be patient until this is "officially" announced very shortly in the media. Steve dug himself a grave this time that he will not be able to recover from. Let's just all be patient + wait until you we will see WHO called it on this one. The WLV dealers are going to unionize as a result of Wynn's stupidity, 100% guaranteed. This belies the fact that he is so self-absorbed, so self-centric, so narcissistic, so out of touch with reality as a result of his inflated ego, that Wynn has become self-destructive as well. Brian, I was shown preliminary schematic design sketches for the development of the future golf course peoperty after the design of Encore was finalized that represented seven separate towers (in site plan only) which included a mixed-use combination of condo towers, condo-hotel towers as well as commercial use office towers as well. Nothing will happen with that site until well after 2010, by that time Wynn could be out of the gaming industry altogether at the rate he's going!

McKee's got some balls! I love this guy for his courage. He is the ONLY print journalist who dares reveal the truth about the REAL Steve Weinberg! For all of you Wynn fanboys, Steve's 30-year "reputation" for treating his employees better than any other operator has officially been flushed right down the toilet in perpetuity! I had heard rumors + minor details of Wynn's latest proposed employee "benefit policy" changes he intends to impose but THIS is really a clear indication of a man who simply lives in an imaginary + irrational world of his own creation:

http://www.valleyblogs.com/mckee/2007-04-10/id_2221

Posted by detroit1051

When will Steve Wynn respond to McKee's columns. They're coming fast and furious now. Today's is "Steve Wynn, chintzier by the day."
http://www.valleyblogs.com/mckee/2007-04-10/id_2221

This is a bit off-topic, but humor me.

I would really like to know what the hell has happened at this resort. I'm sitting in my room, in Tower Suites, at this momen and I couldn't be any angrier with these employees. The first incident that happened this trip was the fact that we didn't get turndown service last night, which is somewhat excuseable. However, today our room was not cleaned until 4:00. This is outrageous. We were out of our room at noon and we needed to call the front desk twice in order to get someone up here. I just can't believe that this is what I'm getting for over $300 a night in a Mobil Five Star hotel. Don't get me wrong, I love this hotel I really can't think of any other hotel with the exclusivity that Wynn offers, but if this continues I won't be staying here in the near future. And for me, that is an utter shame. In addition to this, the couple I'm staying this went to their car in the self park today, to find a huge dent in the drivers door. This is sort of excuseable, due to the fact that this can happen at any public parking structure, etc. Finally, that couple just told me that they got the absolute worst service at the Terrace Pointe Cafe. Their food was just trown in front of them, and when I went to meet them, I was practically yelled at by the waiter saying I couldn't stand next to their table on the actual terrace, because it was a fire hazard.

I'm sorry, but this is just unexcuseable. I don't know what is going on, but Steve has really got to do something or I may never stay at the resort again. It's out of hand, and I'm sick of it.

To detroit, Brian Fey, mike_ch + John: Both Steve + Elaine Wynn, over the past several years now, have been, "on record", as being the LEAST philanthropic of ANY of the MAJOR players here in Las Vegas. This is absolutely documented, so I have no problem reporting this information. Kerkorian, through his Tracinda subsidiary LINCY Foundation, continues to donate tens upon tens of millions of dollars each year to charitable causes, including millions in aid to Armenia as well as local community donations that are also in the tens of millions as well (all, of which, always remain ANONYMOUS at [Kerkorians'] insistence). Sheldon Adelson also contributes tens of millions of dollars every year towards Jewish American interests in Israel, plus he has also established one of the largest community charitable vehicles known as "the Las Vegas Sands Corp. - VENETIAN FOUNDATION" where Adelson donates millions of dollars back to the community each year. BTW - MGM/MIRAGE has an additional charitable foundation as well, in addition to LINCY, which also offers a similar contribution to our community's financial needs. Even Lou Ruvo has, at least come forward + donated/raised the funds for the construction of Gehry's Lou Ruvo Brain Institute for those afflicted with Alzheimer's. Elaine Wynn's prior "voluntary" support for the improvement of the quality of education within the Clark County School District several years ago (incidently we are now the the 5th largest public school district in the country + at the far end of the scale), didn't include offering up ANY of the much needed funds in order to attract the top educators. BFD -Elaine voulunteered her "support" but never donated a dime to her so-called cause. The Wynn's are considered to be the biggest cheapskates as far as philanthropic causes are concerned to our community, or ANY other causes for that matter! Now if you Wynn fanboys want more proof of the fact that Steve + Elaine Wynn are the cheapest f*ckers of ANYONE in their position, I am prepared to challenge any + all of you to prove that Steve/Elaine have otherwise contirbuted NOTHING back to the community at large, which would otherwise be considered to be a major philanthropic donation, consistent with the amount of dough that [his] competitor's have voluntarily been giving away for many years now, all of which clearly demonstrates where Steve's long term goals lie - that would be lining his own pockets. I will gladly eat crow if I'm proven wrong...

John, your best form of action is to bring it up at check-out. My instincts tell me they'll give you a comment card, but more weight is put on a letter. I can give you Ramesh Sadhwani's e-mail or phone number privately if you'd like to speak directly to the VP of Tower Suites. Otherwise, shoot for Doreen Whennen or even Pascal. There is NO excuse for that lack of service.

I was fortunate to say that my last stay in the south tower was truly flawless--maybe the best service-wise in my ten stays. But of all the issues I could nitpick about Wynn Las Vegas, housekeeping is number one for me and I think it's the same for others as well. As nice and personable their housekeepers are, they're simply not doing their job right!

Maybe housekeeping is the only department lacking a good ol' Steve Wynn temper tantrum to get them in check.

Posted by mike_ch

Yes, and other operators such as Station have charity ties here, too. I've always wondered how genuine these endeavors are because it seems like just a token PR building effort by more than some of them.

Adelson, I know, is pretty genuine, since he's actively donating quite a bit of money to support his conservative causes. It will be interesting to see when the major candidates begin releasing the gory details of their financing to see who he's placing his money behind.

Unions: If Leonard is getting his info by reading the Dealers board I think he is then I think one should realize that there's quite a few shills there. I've even seen some threads from the pro-union crowd complaining that the Wynn employees aren't as into it and supportive as they hoped they were.

In particular, it seems there's a few regular names there who are salaciously licking their lips at the thought of continuing such organization throughout all of LV, so of course they're incredibly insistent about the plight of the workers, distrustful of anyone with higher position, insisting all media is against them or in the pocket of their enemy, etc. It's almost like a Kool-Aid cult or religious evangelism amongst some of them.

McKee: I wonder what his issue with Wynn is. "Skeletor?" How unprofessional, a trend with him lately. Stephens/RJ columnist John L Smith has had far more heated issues with Wynn and now just about tries to avoid the guy completely as a subject but nowhere in his most recent book about the fathers of Vegas did I see anyone nicknamed after a cartoon villain.

Although if Steve is Skeletor, then I elect Adelson to be Megatron.

Posted by detroit1051

John, other than the parking garage incident, I had a similar esperience on two visits to Wynn, one the year it opened and then again '06. I hope if you haven't checked out yet, you speak with someone in hotel management. Individual service lapses can happen anywhere, but Wynn needs to realize the bar is a lot higher now with the the 5-Star/Diamond designation.

On the first occasion, I wrote to Richard Cotter, Executive VP. I assume he is still in charge of hotel operations. I was satisfied that he wrote a personal reply acknowledging each issue and telling me that corrective steps had been taken. On my next visit, service was flawless, and when I returned home, I wrote Cotter again and told him how pleased I was. I also told him not to use his valuable time to reply to me. However, he did, and he thanked me. Nice touch.
Then, a year ago, I had very poor service:
* I had been confirmed the Tower Suites, but when I resgistered, was told I was in the Resort Tower. This was corrected without delay.
* I was told my reservation was for two nights, not three, and that I was not expected to arrive until the next day. When I explained the three nights were part of a casino event and I arrived when I was scheduled, the rep made a call, and this, too, was straightened out.
* Turn-down service was provided only the first evening but not the next two.
* The Kleenex box was empty but not replaced by morning housekeeping. Since I didn't get Turn-down service, it sat empty for another day.
I opened a bar of bsth soap the first day. It was never replaced and was down to a sliver when I checked out. There were no extras in the room.
* The powder room sink drain was clogged. I called the first day, and either no one came up, or couldn't fix it, because it still didn't drain properly when I checked out.
* I ordered room service one evening, and delivery of soup and a sandwich took one hour.
* I heard a knock at the door my last evening at 7:45 PM. It was the mini-bar inspector. These kinds of services should be done during the day, not at night when the room is occupied.

I hope Wynn's management and staff haven't become complacent about providing superior service. Before Leonard jumps on this, let me say I've experienced service issues at Bellagio as well. It is very difficult for multi-thousand room propereties to provide exceptional service.

Cotter is gone - he left awhile back (maybe a year now?).

Mike Ch-

I haven't visited this board in awhile but before I mention the union thing I wanted to make sure you realize that I think you have Assemblyman Beers and Senator Beers mixed up, which is certainly easy to do.

Senator Beers is the one for arming teachers. Assemblyman Beers is the one who wrote the bill addressing the tokes. You can easily google for stories on Senator Beer's comments on this since it made national news.

The last time I posted on here people asked about my credibility. Mike E knows me from another board I frequented until recently and I realize he's not crazy about me. I've met Brian Feye in the "real" world and although we disagree about Wynn I think he's a great guy- one of the nicest I've ever met, and always very respectful.

I've been too busy helping with the union organizing as well as helping with the Beer's proposal to write about much.

Things are not looking good for the Beer's bill. Wynn managed to pay off someone on the judicial committee to ensure it dies this Friday the 13th.
I won't mention which one but I can assure you it's doomed.

Which is why I was so happy the union filed Monday. They already knew they had the votes to file last Friday but decided to wait until after Easter. And yes, they DID have over double the 30% that was required. Unless Wynn decides to start assasinating his dealers one by one, this will definately pass during the secret voting process.

It's "hands off" now for Wynn. By federal law he cannot change policy now until the election and if he starts any of his screaming, uncontrollable hissy fits there won't even need to be a vote.

If his lawyers were smart they muzzled him and shot him off in his jet to a desert island somewhere so he would keep his stupid mouth shut and not hang himself for all to see.

At least there won't be any more senseless firings. One of the boxmen that was fired March 1st and I have become friends. This thing is REALLY bad for guys like that because they were so close and now they're out searching for other jobs at the beginning of slow season.

As for the comments regarding the recent service quality at Wynn, just write it off to low morale.
Those employees, even those protected by Culinary, have been through hell these past several months.

They're consistently hammered with threats, write-up's and intimidation daily. How long can you go on doing an excellant job if you're going to be written up anyway, just so you'll have a paper record in your file so that Wynn won't have to give the quarterly bonus he promised? There's just no point.

Anyway, the only reason I see the union not coming in at this point is if Kerkorkian, Adelson and others (once they've gotten past the stage of wanting to KILL Wynn for starting a mess that will eventually affect them as well) decide to bail Wynn out in order to save themselves.

David McKee is man enough to admit when he's made an error (by printing a retraction) and the only journalist here with enough balls to report what's really going on. I just hope he doesn't bail like John L Smith.

I'll bet you don't ever see a retraction on the gross mis-truth's in Jeff Simpson's recent article.

Just my thoughts,

Molly.

detroit: I will promise you not to "jump on this". I actually find your comments to be quite amusing from a firsthand POV, especially the Kleenex box thing. For a Five-Star rated property to not replenish the Kleenex box every 24 hrs. is absolutelty unacceptable :-) Once again, I "speculate", that the WLV Tower Suites do NOT deserve a Five-Star rating, but, big suprise, it certainly appears that there have been a whole lot more 'greased palms' than originally anticipated on behalf of Steve + his minions in order for this resort to achieve that status level when the Four Seasons @ Mandalay offer far superior service + accommodiations then the WLV Tower Suites. You are not the only one who, believe me, have complained about the level (or lack of) service @ the WLV Tower Suites. Well, let's hope, for the sake of the regular "Wynnoholics" here to not lose their credibility, that Steve makes the necessary improvements with Encore, however, I must insist that the employee morale @ WLV is now much lower then even President Bush's approval rating! The WLV dealer's unionization is going through. They have already filed with 70% support! Steve was also foolish, if not just plain stupid, to file another one of his famous lawsuits against his biggest competitor, Sheldon, imagine the impact that Wynn, alone, will potentially be responsile for upon the LAST remaining bastion of Las Vegas history, that being the lack of unionization of table dealers. While they have failed in the past on numerous occasions to actually pull this off, however it now looks like there will be a major paradigm shift in connection with a potential proprty-wide dealers union, much like the Culinary Workers Union achieved ages ago. People, this is for real. If you thought Adelson disliked Steve in the past, now Wynn will be the direct target to blame from every major operator here when [they] will also ultimately be forced to unionize their dealers as a result of the fact that Steve's so-called toke policy plan totally BACKFIRED on him! I can't wait when the WLV dealers go on their first strike, completelly shutting down Steve's entire operation. Actually, Wynn could prove to be on the mark with his claims (in the Jeff Simpson interview) that [his] dealers make an average of over $100K/yr. It looks like that might actualy prove to become a reality at the end of the day! LOL

mike_ch: the only reason that John L. Smith doesn't report on ANYTHING involving Wynn, even if his piece were in a positive light, is a direct result of the fact that he was PERSONALLY sued by Steve FIVE times in the mid-1990's in connection with his co-authoriship of "Running Scared".

Mike and Detroit: The folks I was staying with didn't want to cause a huge splash, due to the fact that the woman cleaning the rooms couldn't be more apologetic about missing the turn down, etc. In short, they didn't want her to lose her job. I honestly don't think the woman could lose her job over this, and I do believe a letter to Cotter or Pascal might be able to clear some things up.

Detroit, I couldn't agree with you more. It is nearly impossible for a 1,000+ room hotel to provide Mandarin Oriental quality of service. I, too, have had some service issues at Bellagio, but nothing like these housekeeping issues at Wynn. The one thing, though, that really "irkes" me about the quality of this trip was the service my travelling parters received at Terrace Pointe. This was my show off trip for this couple. They weren't that keen on staying at the resort and I convinced them that it was the greatest hotel on the Strip, based on my stay in Dec. '05. However, they've told me that Bellagio will probably be their home after these housekeeping issues and that service at the cafe. However, the cafe issue really irkes me due to the fact that Wynn greatest and most admirable quality is its selection of impeccable restaurants, from a twenty-four hour cafe to the most highly acclaimed restaurant in Nevada. But when you have a restaurant that just throws food at its guests and has a staff that yells at acquaintances, something is wrong.

Note: Most or all of this may make its way into the above mentioned letter.

Like Hunter had mentioned, Cotter left and Whennan replaced him. What a shame--he was a great guy, very personable, and I know the Tower Suites staff was happy to have him as the VP of hotel ops.

Molly, I'm not crazy about the fact that you contribute for the sole purpose of Wynn-bashing. I AM crazy about your stories on the messageboard though. Honestly. There's substance and humor and contributes more to the site than this stance you have. By all means, stand up for what you believe in, but don't create a reputation of having nothing more than an agenda (which I feel is already exuded by some contributors). I'd tell you the same thing if you bashed Kerkorian or Adelson the same way. Reading the negative stuff again and again from the same contributor gets old quickly.

Please don't take this personally. I honestly look forward to reading any contributions you can give us outside this dealer issue.

Leonard, off-topic and I think I already know your answer to this, but since you've probably seen both, I wanted to ask you: I might be considering reserving a very high end accommodation next year. Between the two, which would you choose: two-bedroom villa at The Mansion or two-bedroom villa at Bellagio? The Mansion is 1K more per night and slightly smaller.

Posted by detroit1051

Don't waste your time watching Eisner interview Wynn on CNBC. Michael Eisner is terrible, and Steve was stuck trying to make conversation from Eisner's lame questions. It looked like it was taped in a Fairway Villa.

I saw the interview also, if you want to call it that? Hearing Wynn speak is always fun, but no new info here. It is very recent though, but not what I was hoping for. I'll just have to wait until the shareholder meeting next month, to see if we can get some new info.

Posted by mike_ch

Molly: The level of conspiracy your posts never fails to amuse me (it seems like if you ever have a setback, clearly there was bribery or intimidation tactics involved.) The internet is abuzz with union types pressuring any possible voters that might be online (when the AC-UAW deal appeared, there was a bunch of "cmon Vegas you should be next!!" posting by some now-familiar names at some now-familiar boards.) I'll personally just wait until a final word appears, but I honestly don't think this is going to solve anything.

John: Seems like getting regular turndown service there is a problem for many. Certainly not the first I've heard about it.

Leonard: Nobody's going to be forced to do anything. Sheldon runs a strictly non-union ship and has been pretty profitable, no? Same with Station. Any union going to have to pick an easy target like some of the downtowns or Silverton, then move up to something like Boyd before the likes of MGM-Mirage would take notice.

Any winds of change as far as labor goes may have gotten a small head-start from Steve's botched moves, but I've never EVER thought he was a smooth businessman compared to the brass at everyplace else.

Molly - that's a fairly gutsy statement to make on a public forum such as this about Steve Wynn bribing a government official. I'd be careful about making accusations of criminal acts - you need to be pretty darn sure about those sorts of things before making public statements about them.

Mike E: A two-bedroom villa in The Mansion at MGM Grand wins hands down! The Mansion offers the most exclusive + luxurious accommodations in the entire city. It provides guests with a separate + completely immersed experience that NO other competitor comes close to matching. Yes, that would include the fact that The Mansion is superior to the Tower Suites @ WLV for all you Wynn fanboys out there. It is definitely worth the additional grand per night if money isn't a major concern. If I recall, a two-bedroom villa at the Mansion was running around $5K/night.

Leonard, thank you for the recommendation. I'm just testing the waters here, but nothing's confirmed.

The two-bedroom at The Mansion is running at 6K, Bellagio at 5K. This is a serious splurge split between a friend and myself (graduation party for him, birthday for me) so unlike most guests who stay at this level accommodation, the thousand dollar difference is significant. While I love the idea of it being its own separate hotel and casino, the fact that The Mansion lacks private pools for each villa is a big strike against them.

Have you seen Mirage's villas and lanais?

Chris B: While I cannot personally speak on behalf of Molly, nor am I aware of the specifics regarding Wynn's influence upon the public officials directly connected with this [Beers] bill, I can however confirm that Steve has, on multiple occasions in the past, "threatened" to pull his financial support/contributions for certain public officials that REFUSE to vote in favor of [his] own specific request for legislation, amended policies, or whatever is Steve's cause celebre at the time. These implied threats on behalf of Wynn are publicly documented, IN TRANSCRIBED RECORDS, at not only the state level, but county committee proceedings as well. I would suggest that Wynn's behavior in connection with opposing the Beers' bill would certainly be considered tantamount to 'bribing public officials' under the guise of Wynn threatening to retract, or no longer sponsor his "support" of these guys who oppose his position in future elections. If it looks like a duck, quacks like a duck, it's a f*cking duck! Wynn has been 'bribing' public officials here in Nevada for decades + not through the strong-arm tactics of the past, but now via his deep-pocketed wallet! Do your research + you will discover that I am right on-point.

Leonard, remember just because MGM rents out their casino villas to the public does not necessarily make them the best accommodations and service available in town.

Caesars, Mirage, Bellagio, Mandalay Bay, Palms, Hilton, Rio, and yes Wynn- all have villas that are comparable if not better than The Mansion. It's just that you have to be willing to consistently bet $5,000+ a HAND to experience them.

Do paying guests at The Mansion even get 24-hr butler service and Rolls-Royce transportation like the comped guests do? If not, I would go for a Skyloft to get those little extras, or if money is TRULY not a concern, cough up $40,000/nt for the Hugh Hefner Sky Villa at the Palms.

I'd hate to keep talking off-topic, but what irks me about The Mansion is that in 2003 when I first inquired about them, they were only $2500. They have since doubled in price which makes me think is due more to their own hype and mystery (special thanks to Forbes magazine who won't shut up about them) than amenities.

If Wynn let me reserve one of the ground-floor Fairways or Apartment villas, there'd be no debate at all.

I don't understand how Palms can get away with charging twice as much for less than half the square footage of a Bellagio villa in their "Real World Suite". Anything beyond their standard accommodations seems like a rip-off.

Chris: With all due respect, you could not be more INACCURATE, since the opening of the Mansion @ MGM Grand in 1999 (at that time it was only available to MGM's whales) both the 'Robb Report', 'Billionaire Magazine', 'Millionaire Magazine','Forbes' among other elite publications catering to the super-rich have consistently rated The Mansion @ MGM Grand as the most EXCLUSIVE accommodations available in all of Las Vegas, as of the end of 2006! I do not know if you personally have had the opportunity of experiencing a stay @ The Mansion, however I have, + as a result of three days + two nights there in comaparison to three days @ the WLV Tower Suites (incidentally which was totally at the expense + insistence of one of my extremely wealthy friends from Beverly Hills - because I wouldn't even buy a lousy $10 beer @ WLV if I had to pay for it myself nowing that even a few cents would end up in Steve's greedy pocket!). Anyways, the Tower Suites @ WLV totally lacked the level of service, housekeeping, employee morale, etc. I have also stayed in the Skylofts Suites @ MGM Grand + they are absolutely unbelievable (when compared to the per day cost for even the smallest two-suite accommodations at The Mansion). However, I cannot personally provide a recommendation for "equal" luxury amenities @ the Bellagio since the multiple times I stayed there, it was in a typical standard room only.

Anyone who says that modern day Las Vegas (Nevada legislative government) is not indicative of the old Wild West better reconsider:

http://www.lvcitylife.com/articles/2007/04/12/opinion/knappster/iq_13696961.txt

IMHO, David Mckee needs to nominated for a Pulitzer Prize! I can't wait until the SEC starts a civil investigation of Wynn Resorts, Ltd. which hopefully will lead to a multiple criminal indictment. Boy, has Steve really f*cked up this dealer toke thing to the extent that his property is likely to be the FIRST to actually unionize their table dealers! Let's see now, Wynn's Board of Directors include his wife Elaine, his nephew Andrew Pascal + the former head of Wynn Design Developmet, his brother Kenny who was FORCED TO RESIGN because he is still an ongoing target by the feds for allegedly having actively participated in online child pornography.

"A defining moment; Bernie Anderson, wimp

By David McKee
April 13, 2007
A source informs me � and the Transport Workers Union confirms � that dealers at Wynn Las Vegas are ramping up for a union vote. This looks like the moment that will decide whether dealers can stick together for their communal good or whether Strip casino managements will be able to continue their heretofore successful divide-and-conquer strategy.

If the TWU prevails at Wynn LV, making it the first front-rank Strip casino whose dealers unionize, the Lovemans, Lannis and Weidners of the world might want to start sticking pins in a Steve Wynn voodoo doll. It was his confrontationalism and tip-confiscation antics, after all, that upset the delicate modus vivendi between dealers, their bosses and the Culinary Union. If the beaten, mutilated and nearly unrecognizable carcass of Steve Wynn ever happens to be found on the erstwhile Desert Inn golf course, Metro ought to begin the search for suspects in the executive suites of rival casinos.

Assemblymen wuss out: Elsewhere, it was a dark day for tipped workers in Nevada, as the Judiciary Committee of the Nevada Assembly conspired to smother AB 357 (which would put an end to Wynn's shameless money-grab) without so much as a word of debate, according to info originating from a very reliable source indeed.

How AB 357 went from having supposedly widespread (but evidently shallow) support to being DOA is a tale that I'm sure will ultimately be told. But it was evident that The Fix Was In when committee chair Bernie Anderson (D-Wynn Resorts) muzzled any dealer who mentioned the dreaded 'W(ynn)' word in testimony, taking a dive for Skeletor Steve. I guess he was afraid they might hurt Steve's sensitive widdle feewings and would make him cry.

Considering that the whole controversy was started by one Steve Wynn and that the primary witness against AB 357 was Wynn nephew Andrew Pascal, Anderson's "'Shut up,' he explained" attitude toward those dealers brave enough to testify before his committee made it obvious who was pulling his puppet strings.

Perhaps one reason that no vote was taken � other than moral bankruptcy on the part of legislators � is that, should Wynn's tip-confiscation policy be applied to other tipped workers in Nevada, any politician who voted to uphold it would probably be dead meat in the next election. It's common knowledge that Nevada's lawmakers are a wholly owned subsidiary of the casino industry but it would be a refreshing change if they occasionally pretended to lend an ear to the workers who make our service-based economy possible."

Leonard, why do you insist on comparing a 640-room hotel to 29-villa one that costs ten to twenty times more per night? It's not a fair comparison. Tower Suites does not deal with the 18 rooms (12 Fairways and six Apartments) that compete against The Mansion, "Villa Services" does.

A contact of mine attended Norcent's CES reception at The Mansion back in 2005. He was blown away, but said Norcent topped themselves in 2006 holding a reception in the Apartment Villas (I guess when you run a six-figure catering bill, they make exceptions to the "high roller only" rule).

The reason all the high-end lifestyle publications ran articles on The Mansion was because MGM was willing to give the information and photos away to them. None of Wynn's previous properties ever let a press photo out of these high-end suites while under his ownership.

Posted by mike_ch

Yeah, such a sophisticated writer, having the wit to call a guy Skeletor and suggesting he be beaten and buried in a golf course.

The reason I brought up John L Smith is because while he and Wynn have been through Lawsuit City, Smith was still able to write a fairly accurate and objective piece about Wynn in his book "Sharks in the Desert" about the history of casino owners. He did mention the lawsuits and then continued on in his regular fashion.

For comparison's sake, it was professional and there wasn't any of this childish junk I see from McKee.

Posted by detroit1051

"...a hearing with the NLRB, to determine the electoral process, will come next followed, he hopes, by a vote within a month, �give or take a couple of weeks. That�s assuming (Wynn executives) don�t try to delay the process.� Wynn spokeswoman Denise Randazzo could not be reached for comment by press time."

http://www.lvbusinesspress.com/articles/2007/04/13/news/news_update/doc46203757d78c4387450497.txt

Liz Benston's piece on the Wynn dealer mess in Today's SUN. I have heard from several, actually many guests, who have recently stayed at WLV (Tower Suites) for the second or third time over the past several months or so + they report that the morale over there is so bad that it has now trickled down to the other employee service sectors resulting in a serious substandrad erosion of guest accommodation that is certainly expected at this level luxury property. Steve ALWAYS ends up somehow shooting himself in the foot. [They] have all vowed never to return there, even after Encore opens. Wynn is seriously eroding his high-end csutomer base with the employee morale problems [he] created himself which could seriously impact their bottom line when Encore opens since, by that time, there will be many more high end choices in luxury properties on the Strip. There will eventually be a mass exodus of Wynn's best + most experienced dealers when these competing properties are launched.

http://www.lasvegassun.com/sunbin/stories/business/2007/apr/14/566621562.html

Leonard, by the time Encore opens in Dec. 08, there will only be one new luxury resort that he will have to compete against, which will be Palazzo. He'll still have a year to prove himself with the property before City Center opens.

Mike E: I can assure you that Steve will NEVER be able to achieve the level of exclusivity + excess luxury that The Mansion offers, either at the present time with ANY of the high end venues currently offered @ WLV, nor will [he] EVER be able to compete on a comparative basis with the absolute "ultimate" guest experience The Mansion provides (cost being no object) even when Encore is finally complete or any of his future projects until he changes his INFERIOR design team! Trust me, once CityCenter is open for business, WLV/Encore will be reduced to a substandard luxury property in just about ever aspect, including the loss of their very best employees! Echelon is another story + WLV/Encore will clearly be superior to [that] property unless Boyd antes up another billion or more + retains better architects...

Posted by detroit1051

Regardless of the speed at which the union authorization cards were signed, I still don't have a sense of whether this will fly or not. Is the majority really ready to unionize?
"Wynn Las Vegas President Andrew Pascal expressed little concern Monday about a pending union authorization vote by dealers. He said the NLRB filing "is part of the exercise the company anticipated" when "a vocal minority" of the property's dealers protested a highly publicized change in how the casino pools and divides the tips earned by casino workers. The saga has dragged on for more than eight months."
http://www.lvrj.com/business/7060407.html

Posted by detroit1051

Wynn's compensation near $10 million in '06
Steve Wynn, the chief executive of casino company Wynn Resorts Ltd., received compensation worth nearly $10 million in 2006, a year in which the company's revenue doubled, its stock price surged 71 percent, and it opened a casino in Macau.
Wynn's compensation included $2.8 million in salary, $6.9 million in nonequity incentive plan compensation and $262,915 in other compensation, mostly for personal use of company aircraft and life insurance premiums, a proxy statement the company filed Monday with the Securities and Exchange Commission shows.
The Associated Press' calculations of total pay include executives' salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock and option awards granted during the year.
Wynn was not granted any stock or options in 2006 and continued to own a 24.05 percent stake in the company.
http://www.lvrj.com/business/7060377.html

Posted by mike_ch

What that article didn't mention is that he gave himself a raise right before the last quarterly results were published, which looked stupid in light of the tip distribution venture to give table floor bosses a pay raise.

And then the quarterly result came out as a loss, and it looked even more stupid, but that's unrelated to this issue.

mike_ch: For once we agree, didn't Steve give himself a half-million dollar/year raise right BEFORE the 2006 Q4 earnings report? Considering that WYNN reported a LOSS of $55M for that particular quarter...

Posted by mike_ch

Looks like the stock market is not going to budge one inch on this issue, according to todays RJ Business

Wall Street is not overly interested about the continuing feud between Wynn Las Vegas and its dealers over an 8-month-old change in how the casino pools and divides the tips earned by casino workers.

"They still seem to be the best-paid dealers on the Strip," Deutsche Bank gaming analyst Bill Lerner said. "There hasn't been any financial implications (to the company) so investors aren't too concerned about this."

Why don't Vegas hotels provide underwear in their rooms as they do in Asia?