Showing posts with label Las Vegas Sands. Show all posts
Showing posts with label Las Vegas Sands. Show all posts

Wednesday, September 24, 2014

Their Silence Says a Lot

"Not your typical Republicans." That's the meme Senate Minority Leader Michael Roberson (R-Henderson) has been using in his quest to replace the "Minority" in his title with "Majority". And this meme isn't even true. It's all based on one dead horse he just can't stop beating.

But now, he's running scared. After Senator Michael Roberson pulled an outrageously misleading publicity stunt at local teachers' union headquarters, he's been pulling out of debates with Teresa Lowry, his general election opponent. And not only that, but he's encouraged his hand-picked G-O-TEA-in-disguise running mates, Patricia Farley & Becky Harris, to pull out of debates with their Democratic opponents as well.

So what are they hiding? And why are they hiding? Even Republicans like Former Nevada Republican Party Chair Amy Tarkanian are asking.



We don't often agree with Amy Tarkanian. But in this instance, she may be onto something.



Sure, we're now seeing our TVs light up (or darken down?) with misleading attack ads. And ironically enough, those attack ads are at least partially financed by the same person whose company's wrongdoing they want to tie to State Senator Justin Jones (D-Enterprise). Even Jon Ralston felt compelled to call BS on this.



Is it any coincidence that this ad dropped just as Senator Jones released his own TV ad touting the work he's been doing for his constituents? And is it any coincidence that this ad dropped just as criticism is mounting over Michael Roberson hiding himself, Becky Harris, and Patricia Farley from public view?



We've asked this before, but we must ask this again today: What are they hiding? And why are they hiding? These three Republicans want to represent a large portion Southern Nevada in Carson City. So why are they hiding from their voters?

Ironically, their silence says a whole lot about them.



Monday, August 11, 2014

Seeing Florida Green

He's at it again. He's unloading his very overloaded wallet. And G-O-TEA politicians are rushing to worship at his feet to get in on the SuperPAC action.

G-O-TEA kingmaker Sheldon Adelson is back... With a vengeance. He's already writing the big checks again. "TEA" flavored politicians are flocking to Adelson's not-so-little corner of The Strip to curry favor. And Adelson is already trying to set the terms of debate for the 2016 Presidential Campaign.

So are we to expect a bunch of G-O-TEA Presidential hopefuls decry "reefer madness" next year? Believe it or not, Sheldon Adelson is now bankrolling the campaign to defeat a medical marijuana ballot initiative in Florida.

Why is Adelson pushing so hard against medical marijuana in Florida? He isn't funding the anti campaigns in the other states with marijuana on the ballot (such as the full legalization initiative in Oregon). And Adelson's medical research foundation has been funding medical marijuana research in Israel! So what's Adelson actually doing in Florida?

Apparently, he's looking out for Governor Rick Scott (R). Scott is locked in a difficult race for reelection, and some Republican consultants have worried that the medical marijuana ballot initiative will boost turnout this fall... Along with Charlie Crist's (D) hopes for a political comeback.

Of course, Sheldon Adelson is also looking out for himself. It just so happens that Las Vegas Sands wants to open casinos in Florida. But as of now, legislation to expand legal gaming in Florida (beyond the Seminole tribal holdings) remains stalled. Adelson seems to hope Rick Scott will try to revive gaming expansion if reelected... And make sure Las Vegas Sands emerges with shiny new contracts for shiny new Florida casinos.

We've been wondering why Sheldon Adelson has been so quiet about medical marijuana proceeding right here in his own state while he's bankrolling the anti-marijuana campaign in Florida (and funding medical marijuana research in Israel). Yet the more we sniff into this, the more we sense Adelson cares more about the kind of green he rakes in at his casinos than the kind of green Florida patients hope will finally become more accessible. And now, we're left to wonder if we'll be seeing more of these crafty political maneuvers as Adelson prepares to ramp up his 2016 political shopping spree.

Wednesday, March 26, 2014

Lessons Learned?

Apparently, this is becoming the hot topic of this election cycle. We've already been discussing the reality behind the Koch Brothers' extreme ideological agenda, as well as the great lengths they're going to amass power on Capitol Hill.

However, they're not alone. They're not the only "TEA Party, Inc." aligned billionaires who spend tons of money buying candidates influencing elections. And now, a character who's rather familiar to us here in Nevada is preparing to reemerge.

Remember Sheldon Adelson? He's back! And this time, he's looking for a new candidate to buy back.

This week, Adelson has summoned 4 likely 2016 Republican Presidential candidates to kiss his ring meet him at the Republican Jewish Coalition spring meeting here in Vegas. And so far, it looks like Wisconsin Governor Scott Walker (R), New Jersey Governor Chris Christie (R), Ohio Governor John Kasich (R), and Former Florida Governor Jeb Bush (R) will be accepting Adelson's invitation. But why, why is Adelson courting these 4 Republicans?

According to Adelson BFF (& 2011 Las Vegas Mayoral candidate) Victor Chaltiel, "He doesn’t want a crazy extremist to be the nominee." Instead, he wants a less "crazy/extreme looking" G-O-TEA lackey to carry his water and do so competently. Apparently, Adelson learned his lesson after bankrolling Newt Gingrich and Mitt Romney in 2012.

And now, Adelson wants to teach his party a lesson. Not only is he afraid of Hillary Clinton, but he's also afraid of his own party's base. And more specifically, he's afraid of Ron Senator Rand Paul (R-Kentucky) rallying the G-O-TEA base to take the Republican Party in a more "libertarian populist" (aka batsh*t crazy "TEA" flavored) direction.

Apparently, Sheldon Adelson hasn't really learned his lessons from 2012. He's still shopping for damaged goods. And he's still picking nasty fights with the Paulistas. And both of these big mistakes will likely return to bite him, just as they did in 2012.

But in the mean time, let's think about the ramifications of Adelson starting another political spending spree. Last we checked, Las Vegas Sands is still facing legal trouble over its shady business operations in China. Meanwhile here in the states, Adelson's newest front group is catching scrutiny over its curious campaign to kill legal online gaming. And now, he wants to buy another Presidential candidate? When did this become "normal politics"?

And when will we develop the courage necessary to change this new, dangerous reality? Perhaps there are still lessons we must learn about money in politics?

Tuesday, August 6, 2013

Can Republicans Teach an Old "Team (Nevada)" New Tricks?

The 2012 campaign may now feel like a long lost memory, but it occasionally comes back to haunt us every so often. Remember "Team Nevada"? They're back! Nathan Sproul may be long gone, but his mischievous spirit lives on among Nevada Republicans.

Last year, we witnessed the "Quick Poll: Obama or Romney??!!" crew shouting down voters, chasing them into the DMV parking lot, and causing headaches for everyone else attempting to legitimately register voters. Oh, and by October, reports of voter registration fraud surfaced. For all the 21st Century Know Nothing whining about "VOTER FRAUD!!!", it turned out that they were the ones committing the fraud all along.

So far, we haven't heard any new reports of registration fraud. However, the general concept of "Team Nevada" is being resurrected. This time, #1 G-O-TEA Sugar Daddy Sheldon Adelson is bankrolling a 501(c)4 called "Engage Nevada". It's technically a non-profit, but it's backed by top Dean Heller and Brian Sandoval operatives. Jon Ralston wrote about it this morning.

Chris Carr, a former state GOP executive director and Mitt Romney operative, has set up a non-profit called Engage Nevada to facilitate the effort. I have no doubt that the Sandoval/Heller machine is behind this as Carr has been recruited to helm the GOP ground game this cycle.

But Sandoval folks will keep their distance because this technically is a c4, which means it has to be nonpartisan and theoretically register all voters. But with Carr as the head and Adelson involved, this is a fig leaf. It's about as nonpartisan as Americans for Prosperity.

Said Sandoval/Heller guru Mike Slanker: "We are supportive of their work." I bet.

"Engage Nevada is a nonpartisan, non profit 501 (c) (4) organization. Its purpose is education and voter registration," the group's attorney, Dan Stewart, told me. "It registers for all parties and non-partisans. By law, it cannot push people to register a certain way; it must return all applications. Engage fully complies with all federal and state law."

They'd better. Otherwise, they will fall into the same hole that Nathan Sproul led "Team Nevada" into.

Again, so far I haven't heard any reports of fraud here. I have, on the other hand, heard some very familiar stories of "Engage Nevada" workers spouting off on Obamacare, taxes, and guns in front of the DMV. It remains to be seen just how "nonpartisan" this "nonpartisan non-profit" will be.

After all, Nevada Republicans are increasingly worrying about the warming NV-03 campaign. And they're still trying to increase their ranks in the Nevada Legislature. And they still don't trust their own party to deliver any goods. So now, they're (especially Sheldon Adelson) going all in for "Engage Nevada".

We'll see if they can teach an old "Team (Nevada)" new tricks.

Thursday, July 26, 2012

Mitt-pocrisy

Whoops. Apparently, Mitt Romney's attempt to show he's the guy who can "restore the Anglo-Saxon relationship" is totally backfiring on him. He's the one throwing ridiculous accusations at President Obama, yet he's the one insulting Britain and suggesting London can't handle The Olympics!

Yet while that affair "across the pond" is fun to watch , there's another one back here in "The States" that may be even more troubling for Mitt Romney.

Earlier this month, more evidence was unearthed on how Mitt Romney and Bain Capital were involved in outsourcing American jobs overseas. Now, Mother Jones' David Corn is back... And he's exposing another inconvenient truth about Mitt Romney's record at Bain Capital.

When Mitt Romney was governor of Massachusetts he kept his distance from gambling. He turned down donations from the gaming industry for his privately underwritten inaugural gala. And though he initially supported allowing the establishment of slot parlors in order to close a $3 billion state deficit, he later announced he would not consider an expansion of gambling and decried the "social costs associated with gaming." On the presidential campaign trail this year, Romney similarly declared that he opposed online poker because "of the social costs and people's addictive gambling habits." He explained,"I don't want to increase access to gaming. I feel that we have plenty of access to gaming right now through the various casinos and establishments that exist."

As a onetime bishop of the Mormon church—which opposes gambling,including state-sponsored lotteries—Romney's lack of enthusiasm about legalized gambling is hardly surprising. Yet such reservations did not hinder him when he was a mega-financier. While Romney ran Bain Capital, the private equity firm he founded, he owned a Bain-affiliated investment fund that bet heavy on betting.

In March 1999, shortly after Romney departed Bain to run the 2002 Winter Olympics, Brookside Capital Investors Inc., a Bain-related entity wholly owned by Romney, filed a document with the Securities and Exchange Commission detailing the investments held the past quarter in its $559 million portfolio. On this roster were 1.2 million shares of GTECH Holdings Corp., then valued at $29 million. The company billed itself in its 1999 annual report as "a leading global supplier of systems and services to the lottery and gaming/entertaining industries." This description put it mildly; GTECH was the world's largest supplier of computer equipment for lotteries. It operated about 30 of 37 state lotteries in the United States, along with lotteries in England, Israel, Turkey, Australia, and other countries. It also was teaming up with big gaming firms to buy or revamp casinos and race tracks, adding and upgrading gambling equipment at these venues.

In 1998, GTECH had pulled in nearly $1 billion in revenue from its various gaming ventures. At the time Romney was investing in the firm, it was seeking to become a pioneer in Internet gambling.

The SEC filing reporting the GTECH investment doesn't state when Romney's Brookside Capital fund first purchased shares in the firm, but in the mid- and late-1990s the gaming company had a controversial reputation. In 1998, Guy Snowden resigned as head of the company a day after losing a bitter libel battle against billionaire Richard Branson, who had accused Snowden of trying to bribe him into withdrawing from a competition to run England's national lottery. Reporting on Snowden's departure, Fortune noted that "Snowden's often sleazy, win-at-all-costs tactics…have helped make GTECH the dominant force in the computerized lottery business." Snowden's exit followed a run of GTECH scandals. In 1996, a top executive of the Providence, Rhode Island-based firm was convicted in New Jersey of fraud, bribery, money laundering, and conspiracy. (The exec had hired lobbyists to push for expanding the New Jersey lottery and had received kickbacks.) In Texas, where GTECH paid a well-connected lobbyist $3.2 million, there were also allegations of kickbacks and shady wheeling-and-dealing.

Yet again, Mitt Romney says one thing while doing the exact opposite. He claims he despises the practice of outsourcing American jobs overseas, yet his company is a "pioneer of outsourcing". And while Romney claims to piously observe the teachings of his church and court the religious right by decrying the gaming industry, his company was investing in not just any gaming company, but a very controversial one at that!

But then again, we really shouldn't be surprised. This is really Mitt Romney's MO. After all, he's fully embraced Sheldon Adelson and all his Macau mafia (supplied) mega millions that he's pumping into pro-Romney Super PACs. Even though Romney won't publicly embrace Adelson and his "Chinese enterprise", he certainly won't turn down any campaign cash from Las Vegas Sands' head gondoliere.

Really, does Mittens have any core at all? Is there anything he will stand for (other than not releasing his tax returns)? I wonder what he will do next. Will Romney admit his like for the gaming industry in an attempt to warm up to us here in Nevada? Or will he keep denying his gaming industry ties in order to prevent further alienation of the radical religious right (who hate gambling)?

Monday, July 16, 2012

Sheldon Adelson's Pandora's Box (for Republicans)

What else can I say? I told you so. In February, we first caught a whiff of the skeletons hidden in Nevada G-O-TEA money man Sheldon Adelson's closet. Now, ProPublica is busting down that closet door to dig for those skeletons.

First off, the documents they obtained confirmed the longstanding suspicion of many American gaming regulators that Las Vegas Sands (Sheldon Adelson's global gaming powerhouse) has indeed hired local lobbyists to bribe "influence" the Chinese government to let Las Vegas Sands expand its footprint in Macau. Hiring anyone to influence a foreign government to legislate in favor of one's business violates the Foreign Corrupt Practices Act.

But wait, there's more. These documents also confirm the longstanding suspicion that Las Vegas Sands has grown to be quite cozy with key local triad (Chinese mafia) leaders. Nevada law forbids any licensed casino operator from involvement with organized crime.

William Weidner, president of Las Vegas Sands from 1995 to 2009, said he understood from the beginning that opening casinos in Macau meant dealing with "junkets" —companies that arrange gambling trips for high rollers.

Gambling is illegal in mainland China, as is the transfer of large sums of money to Macau. The junkets solve those problems, providing billions of dollars in credit to gamblers. When necessary, they collect gambling debts, a critical function since China's courts are not permitted to force losers to pay up.

Weidner said junkets are a natural result of China's controls on the movement of money out of the country, channeling as much as $3 billion a month from the mainland to Macau.

"To Westerners, the junkets mean money laundering equated with organized crime or drugs," he said. "In China where money is controlled, it's part of doing business."

Weidner resigned from the company after a bitter dispute with Adelson.

Nevada officials are now poring over records of transactions between junkets, Las Vegas Sands and other casinos licensed by the state, people familiar with the inquiry say. Among the junket companies under scrutiny is a concern that records show was financed by Cheung Chi Tai, a Hong Kong businessman.

Cheung was named in a 1992 U.S. Senate report as a leader of a Chinese organized crime gang, or triad. A casino in Macau owned by Las Vegas Sands granted tens of millions of dollars in credit to a junket backed by Cheung, documents show. Cheung did not respond to requests for comment.

Another document says that a Las Vegas Sands subsidiary did business with Charles Heung, a well-known Hong Kong film producer who was identified as an office holder in the Sun Yee On triad in the same 1992 Senate report. Heung, who has repeatedly denied any involvement in organized crime, did not return phone calls.

Funny enough, it was none other than former Republican Presidential Nominee and current US Senator John McCain (R-AZ) who went on PBS NewsHour last month to warn his fellow Republicans about Sheldon Adelson and his "funny money". The good stuff starts at 7:30 on the video below.

Watch Sen. John McCain: 'There Will Be Scandals' in Campaigns on PBS. See more from PBS NewsHour.



I'm now reminded of the Ancient Greek tale of Pandora's Box. In this case, Sheldon Adelson and his shady Macau money are the box, Mitt Romney and Congressional Republicans are Pandora, and the Citizens United era Supreme Court is Zeus. As The New Yorker has recently reported, Sheldon Adelson has dipped his hands into quite the unsavory business practices in Macau. And now, Mitt Romney and his fellow Republicans are gladly taking his campaign checks. This is now their problem.

Sheldon Adelson is the casino mogul and philanthropist whose ten-million-dollar donation last month to a Super PAC supporting Romney was “by far the biggest gift to date,” according to Forbes. Then, two weeks ago, Adelson reportedly pledged ten million more, this time to 2012 campaign efforts involving the Koch brothers, “cementing a potent alliance of two of the biggest spending forces in conservative politics,” Politico reported.

The end of that week brought a less glamorous headline: “Sheldon Adelson Denies Greenlighting A ‘Prostitution Strategy’ At His Macau Casinos.” That was a recap of the latest in a lawsuit working its way through Nevada courts, in which the former head of Adelson’s Macau operation has saddled Adelson with a range of lurid allegations involving Chinese triads, bribery, and criminal activity. (As I described in the magazine in May, those accusations have prompted the S.E.C. and Justice Department to investigate Adelson’s company.)

On June 28th, the former employee making the accusations, Steve Jacobs, dropped a list of new charges into a sworn declaration, including that he wanted to rid the casino of “loan sharks and prostitution” but was stymied when “senior executives informed me that the prior prostitution strategy had been personally approved by Adelson.” That is all it says, so it’s unclear if the plan purportedly “approved by Adelson” was intended to preserve or prevent prostitution. (Local police reportedly arrested more than a hundred prostitutes and twenty-two syndicate leaders in a 2010 operation at Adelson’s Venetian Macau.) The filing also accused Adelson of allegedly hiring illegal workers, and controlling a “Chairman’s Club” that permitted “favored members, including known or suspected organized crime figures.”


Yep, this is how Sheldon Adelson reaps in his billions. And this is how Mitt Romney and the outside "Tea Party, Inc." front groups coming into Nevada to help Romney, Dean Heller, and Joe Heck intend to fuel their campaigns. Remember this. Especially remember this whenever these Republicans try to lecture us on "corruption", "family values", and/or "personal responsibility".

Monday, January 23, 2012

Yes, We Really Do Matter.

Remember the run up to New Hampshire's primary? It may now seem like a million years ago, but it's really been just two weeks. Then, we learned that Sheldon Adelson planned to up the ante for his BFF Newt Gingrich. And regardless of what he says about what he supposedly knew (or not) about how Newt's Super PAC would nip at Mitt Romney's Achilles' Heel,

Well, apparently Adelson is about to go all in... And so is his wife! And since this week may be the most critical ever for Newt Gingrich and his political career, as well as Mitt Romney and his political career, the stakes couldn't be higher.

And yet again, there will be increased focus on Mittens' full embrace of his role as "Mr. 1%".



No really, think about it.

But Gingrich’s upset victory in South Carolina seems to show that potency of arguments that highlight the unfairness and inequality of our economic system. As Ruy Texeira writes, conservatives “should realize they’re attacking the opinions of most Americans who do, in fact, believe the system unfairly favors the wealthy“.

On CNN’s State of the Union yesterday, Gingrich took a bit of victory lap on the Bain attacks, acknowledging that they helped him win South Carolina because, he argued, they show voters where Romney is vulnerable against President Obama.

Indeed, after several weeks dominated by the controversy over Bain and Romney’s tax returns, the former governor risks losing his frontrunner status. Romney is down by double digits in Florida and is barely hanging onto a one point lead nationally, according to Gallup. For instance, one self-described “scorned woman” in South Carolina told TPM that she voted for Gingrich, even as lurid new revelations about his second wife were emerging, because of Romney’s waffling on his tax returns.

It’s worth remembering that in its early days, the Tea Party was nearly as anti-Wall Street as it was anti-government, galvanized by the Wall Street bailout. Much of that resentment likely remains, despite the best efforts of conservative elites to redirect that anger toward the government in order to white wash the distasteful record of companies like Bain.

Even though Sheldon Adelson is also "Mr. 1%" and he apparently wasn't all that into Newt's Bain attacks, his donation to Newt's Super-PAC just as it was about to release the "King of Bain" anti-Romney movie onto South Carolina airwaves nonetheless triggered this debate on economic inequality on the right. And what really makes this interesting is that despite all the efforts of the Nevada Republican Party to make its caucus totally irrelevant, Nevada and our biggest concerns may matter more in this election than we had ever imagined. And especially if Mittens plans to hit Newton on housing while Newton hits Mitten on Bain, perhaps Nevadans really will see more of a discussion on economic issues that we want answers on.

Of course, this probably won't be good for the G-O-TEA. Remember this?



Mittens doesn't want us to... But that's too bad. And funny enough, Sheldon Adelson is doing his part to help us remember.





Monday, June 20, 2011

Mark Amodei to Nevada: Drop Dead (You Red!)

(Also at Daily Kos)



So Mark Amodei, just after being crowned the GOP nominee in NV-02 (we'll see how long that lasts!), releases some silly ad full of xenophobia.

But the debt, THE DEBT!!! What about THE DEBT??!! Well, here are some facts about the national debt that Mark Amodei doesn't want you to know.



When George Bush was President, Republican Congressional leaders voted 19 times to raise the national debt ceiling by $4 trillion! Funny enough, I don't remember Mark Amodei screaming then about REPUBLICANS "surrendering to China"... But I do remember REPUBLICANS in Congress chiding anyone who tried to negotiate budget reforms into any debt ceiling vote.



So what changed? President Obama is now in office. And we're just barely getting out of a brutal recession that would only worsen if Mark Amodei has his way and we reduce public investment exactly when the economy needs more investment.

And by the way, why does Mark Amodei hate China? Clearly, he hasn't received the memo from the great titans of Nevada industry!



Yes, that's right. Wynn Resorts, MGM Resorts International, and Las Vegas Sands all have huge investments in Macau... Which happens to be a part of "BIG BAD COMMUNIST CHINA!!!" So is Mark Amodei ready to call these great Nevada capitalist institutions "COMMUNISTS!!!" for investing so much in China?

And is Mark Amodei also ready to hurl that same insult on the entire Las Vegas Strip corridor? As international tourism continues to pick up and the weak dollar continues to lure even more tourists to visit America, the Las Vegas Convention & Visitors Authority (LVCVA) plans to invest another $3.5 million in international promotion, including opening an office in CHINA (!!!), in hopes of encouraging more of those international tourists to include Las Vegas in their itineraries.

The Las Vegas Convention and Visitors Authority board of directors [last week] approved contracts for 10 international offices and an extension of its advertising agreement with R&R Partners as it said goodbye to five elected officials, including its chairman, Las Vegas Mayor Oscar Goodman.

The two-year deals for international representation run from July 1, 2012, to June 30, 2014, and will cost the authority $1.7 million in fiscal year 2013 and $1.8 million in 2014.

In addition to approving offices in Canada, Mexico, Japan, several western European nations, Australia, China, Brazil and Russia, the board authorized a request for proposals for representation in South Korea, India and France.

The authority is developing a strategy to increase the percentage of Las Vegas visitors from other countries from the current 18 percent to 30 percent within 10 years. Last year, 6.7 million international visitors came to Southern Nevada and spent an estimated $6.6 billion, which would support 58,000 jobs.

International visitors stay longer and spend more money than their domestic counterparts. The U.S. Commerce Department says international visitation to the United States is expected to grow by 49 percent through 2016 and LVCVA President and CEO Rossi Ralenkotter said Las Vegas needs to take the opportunity to get a good share of those visitors.

So when will Mark Amodei call out the BIG BAD COMMUNISTS!!! at LVCVA?

Let's face it: Our nation will suffer immensely if the debt ceiling is not raised very soon. We simply can't afford for the federal government to shut down after defaulting on its debt. All it would do is cause a global economic catastrophe unseen since The Great Depression.

And guess what? If all that comes to pass and the world falls into deeper recession, maybe even depression, following a failure to raise the federal debt ceiling, then I doubt Las Vegas will be able to bring in all those foreign tourists we had hoped for. And last I checked, Las Vegas tourism and gaming are the biggest source of revenue for the entire State of Nevada.

So does Mark Amodei really want to further cripple our state by killing what just happens to be propping up Nevada's sickly economy at the moment? Think of all the jobs Nevada would lose if Mark Amodei and the teabaggers had their way in holding our country hostage over the debt ceiling. And think of what prospective international travelers think of people in our government essentially spitting on them and their culture (which is what Mark Amodei is essentially doing). And again, why are they so gung-ho to push the economy off the cliff now when they refused to do anything about George Bush's deficit spending five years ago?

I smell something fishy here. Am I the only one?

Tuesday, November 23, 2010

Looking Ahead: What's Next for Nevada? And for Vegas? (Part 1)

2010 has definitely been a wild ride... But what might 2011 possibly have in store for us?

Soon-to-be-Governor Sandoval is already loading up his future staff. Education activists are already threatening law suits if Governor Sandoval and/or The Legislature try to cut too much. And speaking of that budget, it will be quite brutal and internal GOP strife may cause a number of additional headaches and/or opportunities.

Nevada's unemployment rate is finally dropping... But that doesn't mean happy days will be here again so soon. Sheldon Adelson may be feeling bullish about the future, but that's largely because he's now investing in Asia... Only 15% of Las Vegas Sands' revenue actually comes from Vegas, and word has it the numbers at Wynn Resorts look awfully similar. Harrah's Entertainment will soon become Caesars Entertainment, but that still doesn't answer the question of when Harrah's/Caesars will finally finish the Octavius Tower at Caesars Palace, along with that "entertainment district" near Harrah's that they've promised for some time. Apparently MGM Resorts' bookings are up and Wall Street is feeling more bullish about MGM and Vegas these days, so things are looking better. Just don't expect a return to the mythical "glory days" any time soon.

So where am I going with all my wild and crazy ramblings? Come on. I laid it all out for you in March.

[T]he casinos can no longer be counted upon as a "free ride". We can't just expect new casino construction to prop up demand for construction jobs, which props up demand for new housing, which props up demand for housing construction, which props up the rest of Southern Nevada's economy. We may have lucked out in seeing this model work from 1989 to 2007, but all it really did was hide the weaknesses in this shaky economic model that ended up being exposed when "The Great Recession" hit and all the artificial demand for new casinos, new homes, new whatever fell like a row of dominoes.

The Cosmopolitan will be opening next month, but once that opens we probably won't be seeing any new Strip casino-resorts opening for at least five years. We've really learned the hard way that we can no longer rely upon an unsustainable "growth begets growth" model of construction being fueled by artificially inflated "demand" fueled by real estate speculation. Those days ended three years ago, and it makes absolutely no sense to even try to return to that model. Even though the gaming industry will most certainly improve, that and the "growth industry" that has come with it can no longer be our sole source of sustenance.

Nevada needs to change, that much is clear. We need to change dramatically. We need to change our priorities. We need to change the way we think of our economy. We need to go beyond our "comfort zone" of relying upon the casinos for everything, slapping together "quick fix budgets" loaded with "legislative band-aids and duct tape", continuing to delay the building the kind of infrastructure our state needs to move forward, and putting so much effort into making today's "quick fix" that we forget about the challenges facing us tomorrow.

So how do we change? Later, I'll be talking about where I think we need to go.

Tuesday, March 30, 2010

Las Vegas Sands in Trouble Over Chinese Mob Ties?

Today's Sun caught a hidden bombshell of a Reuters report on Las Vegas Sands' business in Macau. While most of the Macau controversy lately has centered around MGM Mirage having to leave New Jersey over that state's regulators decrying its joint venture with Pansy Ho, until recently hardly a peep had been said over Las Vegas Sands and its heavy ties to Macau gaming (with Sheldon Adelson even proclaiming that his company is now "an Asian company doing some business in America"!)... Until now.

At first, the men had been ordered to break the arms and legs of a dealer at Sands Macau suspected of helping a patron cheat millions of dollars from the business. Later, a call went out to murder the dealer, court records show. But then one of the gangsters balked and reported the plans to authorities.

The plot's mastermind, according to testimony in previously undisclosed court transcripts obtained by Reuters, was Cheung Chi-tai. At trial a witness identified Cheung as a leader of the Wo Hop To -- one of the organized crime groups in the region known as triads. Another witness, a senior inspector with the Hong Kong police called to testify because he is an expert on the triads, identified Cheung by name as someone who would commit crimes for money. Cheung's organized crime affiliation was corroborated in interviews for this article with law enforcement and security officials intimately familiar with the gaming industry in Macau.

The murder-for-hire case sheds light on the links between China's secretive triad societies and Macau's booming gambling industry. It also raises potentially troubling questions about one of the world's largest gaming companies, Las Vegas Sands, which plans to open a $5.5 billion Singapore casino resort in late April.

Cheung was not just named as a triad member but also, according to a regular casino patron testifying in the trial, "the person in charge" of one of the VIP rooms at the Sands Macau, the first of three casinos run here by Las Vegas Sands. In addition, Cheung has been a major investor in the Neptune Group, a publicly traded company involved in casino junkets -- the middlemen who bring wealthy clients to Macau's gambling halls. Documents show that his investment allowed him a share in the profits from a VIP gambling room at the casino.

An examination of Hong Kong court records, U.S. depositions from the former president of Sands, and interviews with law enforcement and security officials in both the U.S. and Macau, reveals a connection between Las Vegas Sands and Cheung -- ties that could potentially put Sands in violation of Nevada gaming laws.

Donde los yikes??!! This isn't looking too pretty... But does this really mean legal problems for Las Vegas Sands in the near future? And nasty consequences for their American operations? We don't know yet.

U.S. casinos operating in Macau are all headquartered in Nevada and must comply with that state's laws which prohibit "unsuitable" associations that "discredit" its gaming industry. Those laws are meant to keep organized crime figures out of the casinos. [...]

Randall Sayre, a member of the Nevada Gaming Control Board that monitors casino compliance, declined to comment specifically on Sands Macau, writing in an email that the state "takes no public position on suitability ... without a full investigative work-up."

A gaming official, who insisted upon anonymity, said: "This relationship (with Cheung) would be of concern to Nevada authorities. You're talking about direct ties to bad guys." Another said the agency is monitoring the situation.

However, we do know for sure that Macau's gaming industry today operates in a more "Old Las Vegas" way than we do in Las Vegas! The mob may no longer play a major role in gaming here, but it still does there... Even if they have a lower profile today due to major multinational corporations like Las Vegas Sands, Wynn Resorts, and MGM Mirage coming to town and running big casinos. This lower profile helps keep Macau from looking "too gritty" to scare away tourists, and has recently helped LVS, Wynn, and MGM in staying on good terms with most US gaming regulators (even if New Jersey is getting tougher on them)... But does this change things?

Legally, it may not. Like it or not, Stanley Ho still has a strong grip on Macau, the triads (Chinese mafia) do as well, and any gaming companies doing business in Macau (like Las Vegas Sands and MGM Mirage) will sooner or later be involved with Stanley Ho and the triads.

However, this may very well shake up American politics this year. Remember when Floyd Brown attempted to make hay over Dubai World's 50% stake in CityCenter and (unsuccessfully) turn it into a political hot potato for Harry Reid and MGM Mirage? Well, this new LVS Macau development will make sure this backfires on Republicans, as we know how much the teabaggers hate "socialism" and "communism"... And they probably won't like the fact that LVS CEO Sheldon Adelson has been donating heavily to Suzy Lowdown's Senate campaign. So when will we start hearing the teabaggers calling on Ms. Suzy to return all of Sheldon Adelson's Communist-tinged donations?

Again, I don't see this as a very big deal so long as these gaming companies aren't participating in any crimes with the triads... But if the Republicans keep trying to turn this into a campaign issue to beat Harry Reid over, they'd better expect some serious blowback.

Monday, March 1, 2010

Casinos: Las Vegas Sands to Move Out of Pennsylvania? Into Florida?

Confusion, confusion, confusion! What on earth is going on at Sheldon Adelson's empire these days?

First off was some explosive news over the weekend that Las Vegas Sands is looking to sell the Sands Bethlehem casino that they had just started building last year. The casino has been open only for a few months, and works hasn't even begun yet on the planned hotel part of the project.

So today, the official word out of LVS is that they are NOT planning to sell Sands Bethlehem.

Las Vegas Sands Corp. today denied "rumors" that it plans to sell its Pennsylvania casino because of disappointing results there.

The Express-Times newspaper in Pennsylvania on Saturday reported that, according to a source, the Las Vegas company hopes to sell its Bethlehem casino.

But Las Vegas Sands said today in a press release it's applied to add table games to the 3,250-machine slot parlor and is preparing to resume construction on a 300-room hotel there.

"Las Vegas Sands Corp. said today that recent rumors of the company's supposed interest in selling its Sands Casino Resort Bethlehem property, or indefinitely delaying the completion of the hotel and other components of the development, are unfounded," the company said in a statement.

With $4.5 billion in net revenue in 2009, Las Vegas Sands collected most of that in Macau and Las Vegas and is preparing to open a $5.5 billion resort in Singapore. The Bethlehem casino, which opened in May, produced $141.8 million in revenue last year.

"With the addition of table games, Sands Bethlehem will become the most complete and convenient gaming destination for millions of New York City and northern New Jersey residents and, at the same time, enhance the profitability of the property starting in the foreseeable future," Las Vegas Sands Chairman and Chief Executive Sheldon Adelson said in today's press release.

OK, so what are we to take from this? Obviously, Sands Bethlehem hasn't yet turned a profit and hasn't been as successful as LVS was originally hoping for. Oh yes, and Sheldon Adelson has said repeatedly that his company is now "an Asian company doing business in America", so it seems to make sense for LVS to focus more on its budding casino projects in Macau and Singapore.

However, one can argue that Sands Bethlehem hasn't had a chance yet to reach its full potential. After all, the hotel hasn't been built yet. The shopping mall hasn't been built yet. The conference center, with its promised arts & cultural center and local PBS TV studio, hasn't been built yet. Sands Bethlehem is supposed to be a "destination resort", but LVS hasn't yet finished the "destination" or the "resort".

Oh, and did I mention that Pennsylvania has just legalized casino table games and Sands Bethlehem can now install them in the casino?

So we don't know yet what really really know about LVS' plans for Pennsylvania... But we now know they're showing interest on the other end of The Eastern Seaboard.

The Seminole Tribe of Florida will be at the center of the debate when lawmakers return to the issue of gambling this year.

Though little has changed for the tribe in the past year -- it still runs blackjack and other casino games without a valid state gambling agreement -- its influence is being felt in all corners of the state.

Other players in the gambling scene, spurred by the prospect of the state giving the tribe a monopoly outside of South Florida, are pushing to add more games and more gambling options in Florida.

• The state Division of Parimutuel Wagering gave permission for the state's seven parimutuel casinos to start using a slot machine-style blackjack game.

• Hialeah Park resumed live racing at the historic track with quarter horses.

• One of the largest casino operators in Las Vegas, Sheldon Adelson of Las Vegas Sands, has hired a lobbyist to explore the prospect of resort-style casinos in Florida.

• The Florida House, with a history of opposing the expansion of gambling, is pushing legislation to lower the tax rate on slot machines at parimutuels.

• The operators of international online poker sites are asking legislators to pass a law to allow online poker games within the state.

• And perhaps the biggest change of all: The federal government, after nearly three years of taking a hands-off approach to Florida's gambling scene, has indicated it will decide whether to shut down or sanction the Seminole Tribe's table games, which were ruled illegal in Florida by a 2008 Florida Supreme Court decision.

``There is a heightened level of involvement and diligence occurring on the part of federal government,'' said Rep. Bill Galvano, the Bradenton Republican who has headed legislative attempts to craft a gambling compact with the tribe.

The issue in Florida is over the Seminole Tribe and how much of the gaming market the state will allow them to control. Previously, the state legislature has been dominated by anti-gambling "Christianist right" Republicans who have toed the religious right line on limiting casino growth in Florida. But now with the Seminole Tribe operating table games without a necessary agreement and the feds likely to direct them to work out a new agreement with the state, there no longer looks to be a "Moral Majority" in Tallahassee as state legislators see massive "Ka-ching! Ka-ching!" dollar signs in using this situation to expand legal gambling across Florida and allow more operators, like Las Vegas Sands, to jump into the market.

Seriously, it will be a game changer... A game changer for Atlantic City, Las Vegas, Biloxi, Tunica, California, and the entire American gaming industry if Florida loosens its anti-gambling laws and allows casinos in or near the state's major tourist attractions like Miami and Orlando.

I guess we'll see how LVS is trying to take advantage of this... And for that matter, if the other big casinos follow suit...

Monday, January 25, 2010

Betting on Michelin Stars: That's What You Get for Waking up in Vegas!

Yes, this song still haunts me. No really, we hear it everywhere here. But in this case, I guess Katy Perry really is right...

That's what you get for waking up in Vegas!

So what do you get for waking up in Vegas? Well, you get some great choices for breakfast. Let me explain on all your mouthwatering choices for starting the day off right in "Sin City".

Society: The Classy Way to Start One's Day

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Tucked away in a corner in the fabulous Encore at Wynn Las Vegas is Society Cafe. Chef Kim Canteenwalla presides over this lovely little "casual cafe cum upscale comfort food given a major makeover" joint and cooks quite the tasty breakfast. Start off with some freshly squeezed and organic fruit juice while you peruse the menu and make those tough decisions.

The omelette or the frittata? The "XL Sticky Bun" or the buckwheat pancakes? Decisions, decisions!

My favorite is the Frosted Flake (coated) French Toast with caramelized bananas, chocolate cream, and organic maple syrup. It may sound like "sugar overload", but just give it a taste... And you'll see why it's become my "breakfast of champions".

First Food & Bar: Oh So Hipster, But Oh So Satisfying

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OK, so you're hungover and you just stumbled out of bed totally drunk, dazed, and confused. What to do? Trust Chef Sammy DeMarco to wake you up gently and "just the right way" at First Food & Bar at The Palazzo.

Just look at this breakfast menu! How can you say no to freshly baked donuts? You just can't!

One also can't resist a good ol' fashioned 'shroom omelette with goat cheese. I knew I couldn't, so I ordered one... With a cup of fresh fruit salad and a wedge of bread pudding. Everything tasted great, especially that omelette full of tangy cheese and juicy mushrooms!

And since I was there for Sunday Brunch, I only had to pay $7 extra to make it a "Champagne Brunch" with a bottle of nice California bubbly. Isn't that sweet!

When Simon Says "Brunch", Just Do It!

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Now speaking of Sunday Brunch, there's one place that absolutely can't be missed for the best fresh plates, best made to order "buffet" variety, and best drinks to cure (or is that add to?) the hangover. Yes, my dears, I'm talking about Simon at Palms Place!

"Celebrity Chef" Kerry Simon was out to make "food that makes a statement" when he opened his namesake restaurant at The Palms' new "condotel" tower, and he's certainly achieved it so far with his much celebrated Sunday Brunch. Utilizing the best seasonal and organic ingredients, his culinary team has turned simple brunch fare into something quite extraordinary.

Start with a saunter over to the bar for a good bellini or bloody mary ($7-8 extra for unlimited booze), then stop and admire the freshly baked pastries... And start devouring those bear claws and beignets! It's OK, you're in Vegas now so you're supposed to commit some sin!

Once you're done gorging off the pastry baskets, try something lighter. Have the sushi chef make you a divine avocado roll that's spicy yet still creamy and refreshing. Or perhaps, have the panini chef make you a panino with fig jam and bleu cheese that's simultaneously sweeet, tangy, savory, tart, and oh so yummy!

Oh, and don't leave without ordering off the menu. It's included in the $38 "admission fare". My favorite so far is the Frosted Flake (coated) Brioche French Toast paired with fresh blueberries and raspberries, then topped with organic maple syrup. If there's one french toast that can give Society's a real competition, it's this one!

So I hope this helps. Whenever you wake up in Vegas, remember these places for breakfast/brunch. This will make you want to wake up in Vegas more often. Trust me. ;-)

Society Cafe
@ Encore at Wynn Las Vegas
3131 Las Vegas Blvd S
Las Vegas, NV 89109
(702) 248-3463
http://www.encorelasvegas.com/site.cfm#/dining/societycafe/

First Food & Bar
@ The Palazzo
3327 Las Vegas Blvd
Las Vegas, NV 89109
(702) 607-3478
www.firstfoodandbar.com

Simon Restaurant & Lounge
@ Palms Place
4381 W Flamingo Rd
Las Vegas, NV 89103
(702) 944-3292
http://www.simonatpalmsplace.com/