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

Sunday, January 28, 2018

GOP Silent Over Sex Misconduct Accusations Against RNC Finance Chair Steve Wynn




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27 January 18 PM
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Steve Wynn. (photo: Jessica Rinaldi/Getty Images)
Steve Wynn. (photo: Jessica Rinaldi/Getty Images)

GOP Silent Over Sex Misconduct Accusations Against RNC Finance Chair Steve Wynn

By Ed O'Keefe, The Washington Post
27 January 18

epublican leaders remained silent Friday about allegations of sexual misconduct against casino mogul Steve Wynn, who serves as finance chairman of the Republican National Committee and would not say whether he plans to relinquish his role.
The accusations leveled against the businessman, a rival-turned-confidant of President Donald Trump, gave Democrats an opening to revive attacks on the GOP.
In recent months, Democrats and Republicans have called on the opposing party to return financial contributions or cut ties with prominent individuals accused of sexual misconduct. When allegations against entertainment executive Harvey Weinstein surfaced last fall, RNC Chairwoman Ronna Romney McDaniel and other GOP leaders quickly called on the Democratic National Committee, its House and Senate campaign arms and individual Democratic candidates and lawmakers to refund his thousands of dollars in donations.
Last weekend, McDaniel and Wynn hosted a fundraiser for Trump at his Mar-a-Lago resort to mark the first anniversary of his inauguration. Trump skipped the event, staying in Washington as a partial government shutdown unfolded.
On Friday, the RNC did not respond to requests for comment about a report by the Wall Street Journal that included interviews with dozens of people who have worked at Wynn's casinos or been told of his alleged behavior, including allegations that he pressured some employees to perform sex acts.
With the report, a major business executive now faces the kind of allegations that have led to the downfall of celebrity chefs, movie moguls, pro football team owners and national television news anchors. At least eight members of Congress have resigned or announced plans to retire because of similar misconduct allegations.
Wynn Resorts - the company that bears his name - saw its stock price drop 10 percent Friday in the wake of the Journal's report.
In a written statement, Wynn strongly denied the allegations, saying they stemmed from an ongoing divorce battle with his ex-wife.
"The idea that I ever assaulted any woman is preposterous," Wynn said. "We find ourselves in a world where people can make allegations, regardless of the truth, and a person is left with the choice of weathering insulting publicity or engaging in multiyear lawsuits. It is deplorable for anyone to find themselves in this situation."
Asked whether Wynn planned to step down from his RNC role, company spokesman Michael Weaver said, "Neither Mr. Wynn nor the company have any comment on that."
The DNC criticized McDaniel and the RNC for standing by Wynn, noting that when Weinstein was accused, she said candidates and political organizations "shouldn't take money from somebody who treated women with the absolute highest level of disrespect."
Wynn, a onetime business rival of Trump, became head of RNC fundraising operations a year ago next week. The 75-year old is an outsize figure in Las Vegas, best known for bringing resorts with dancing fountains and man-made volcanoes to the Strip before selling the Bellagio, Mirage and Treasure Island hotels, under pressure from investors, to MGM Grand. He later built two glass towers adorned with his signature at the north end of Las Vegas Boulevard.
Wynn has been a frequent presence in Washington since taking the RNC role and is among a cast of several business associates, longtime aides and friends who have fallen in and out of favor with Trump.
The two traded barbs in the press through the 1990s and have faced off in court. In his book "Trump: The Art of the Deal," Trump said, "Wynn is very slick and smooth, but he's also a very strange guy."
Wynn has given more than $1.5 million to the RNC, the National Republican Congressional Committee and other party committees in the past five years, including a donation of more than $450,000 to the National Republican Senatorial Committee in the 2016 cycle. Several leading Republican members of Congress, including Sens. Ted Cruz, Texas, Marco Rubio, Fla., and Patrick Toomey, Pa., have benefited from his cash.
There were signs Friday that the accusations against Wynn could influence ongoing congressional campaigns.
Sen. Dean Heller, R-Nev., the most vulnerable GOP senator seeking reelection this year, received $5,400 from Wynn - the maximum individual amount permitted - in March, according to campaign finance records.
Rep. Jacky Rosen, D-Nev., who is challenging Heller, called the reports about Wynn "horrifying and disturbing." Rosen said the RNC should remove Wynn as finance chairman and called on Heller to demand Wynn's ouster.
As of Friday afternoon, Heller's campaign had not returned requests for comment.
The Indiana Democratic Party urged Rep. Luke Messer, R-Ind., a GOP Senate candidate and fifth-ranking member of the House GOP Conference, to call for Wynn's removal.
Michael Feldman, a spokesman for the Indiana Democratic Party, said Messer "has a real opportunity to live up to his own principles."
Messer is hoping to unseat Sen. Joe Donnelly, D-Ind., but first faces a primary against Rep. Todd Rokita, R-Ind. Messer has never met or received campaign donation from Wynn, a Messer campaign official said.
In 2000, Wynn gave $20,000 to the Democratic Congressional Campaign Committee, according to campaign finance records. Before backing Trump, Wynn donated $2,700 to Hillary Clinton's 2016 presidential campaign.


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Wall Street Journal report on Steve Wynn's sexual abuse of women

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Monday, January 2, 2017

MOST VEGAS CASINOS IN DEBT, BIG TIME



Magnificent gaudy structures erected for the ultimate 1% SCAM to empty your wallet, your 401K, your employer's funds, rack up credit card debt....




All built on a House Of Cards created by banks that will collapse, leaving taxpayers to pick up the tab.....





MOST VEGAS CASINOS IN DEBT, BIG TIME




Las Vegas Welcome sign
House always wins? While operating a Vegas casino seems like an obvious money maker, the cost of these massive buildings has most of these jackpot makers in the red long-term.
For the last few years, we’ve been reading about casino empires crumbling before our eyes.  In 2012, an article ran in USA Today that the economic downturn had created huge, unpayable debts in Vegas gambling properties.  These debts were incurred in brighter economic times but fell victim to the Great Recession.

One of the conglomerates mentioned in the USA Today article, Caesar’s Entertainment, was able to stall bankruptcy for three more years but finally filed for bankruptcy protection in 2015.
Las Vegas Fountain
Donald Trump learned the hard way how ephemeral big projects can be.  He took over the Taj Mahal Casino in Atlantic City and offered 14% interest on bonds to finance construction.  His company defaulted on its commitments soon after.  In short, a big building project may signify much smoke but little fire.
MGM Resorts International is trying to expand in both the US and Asia.  Although gambling is on the rise in the US, it is not at all certain that Vegas casinos will feel the enough of said growth to forestall bankruptcy.
The Fontainebleau Resort was going to cost 2.7 billion dollars but the Bank of America pulled out in 2014 and left a shell of a building in its wake.
Vegas Casino





It isn’t just the economic downturn that has threatened so many Vegas gambling properties.  Many other jurisdictions have legalized casinos in recent years.  This and online casinos make it difficult for Vegas casinos to bring in the customers they need to realize the profits that will pay off their massive debts.  Competition certainly reigns supreme even in the world of Vegas gambling!


https://www.gamingpost.ca/canadian-casino-news/vegas-casinos-debt-big-time/


Friday, August 12, 2016

Prosecutors: Ex-CEO gets prison after Vegas gambling binge




AUGUST 11, 2016 6:41 AM

Prosecutors: Ex-CEO gets prison after Vegas gambling binge

The former president and chief executive officer of an Alabama steel company has been sentenced to six years in prison for gambling away money during his company's bankruptcy case, federal prosecutors announced.


Read more here: http://www.sanluisobispo.com/news/business/article95001912.html#storylink=cpy



Read more here: http://www.sanluisobispo.com/news/business/article95001912.html#storylink=cpy


Tuesday, June 28, 2016

The NHL is coming to Las Vegas because America is now a casino nation






The NHL is coming to Las Vegas because America is now a casino nation

Pro sports leagues used to try to stay away from gambling. Not anymore.

 
David G. Schwartz is the director of the Center for Gaming Research and a history instructor at the University of Nevada, Las Vegas.


The future home of the NHL’s Las Vegas franchise, under 
construction in April 2015. (AP Photo/John Locher, FIle)














































In 1950, America was waking up to the problem of organized crime. U.S. Attorney General J. Howard McGrath convened a conference, primarily of big-city mayors, to discuss the root causes of the rackets (the word “mafia” had not yet entered the popular lexicon). Gambling, he said, was a fundamental nuisance in a country that was fundamentally opposed to the practice.
Although a few states (including Nevada) permitted some gambling, McGrath told the gathering that the overall public policy of the United States “condemns organized gambling and makes its activities illegal.” Sen. Estes Kefauver later amplified this theme during his chairmanship of the Senate’s Special Committee to Investigate Organized Crime in Interstate Commerce. Thanks to their television exposure, the hearings made Kefauver a national political force (which he parlayed into the 1956 Democratic vice presidential nomination) but did little to stop Americans from gambling. If anything, they helped Las Vegas by prompting the cleanup of illegal casinos in the rest of the country.
In that atmosphere, professional sports — whose legitimacy has at times been tainted by gambling-related scandals from the infamous 1919 Black Sox to college-basketball point shaving — were right to distance themselves from gambling. It was mostly illegal and, even where it was allowed, was not well-regarded by the rest of the country. With the United States nearly unanimous against gambling, legal or otherwise, this was a no-brainer.
Today, Attorney General Loretta E. Lynch would have to concede that the basic public policy of the United States is pro-gambling. All but six states run lotteries, taking in nearly $74 billion last year. Every National Football League team plays in a stadium in which gambling is as close as the nearest convenience store.
Still, the announcement that the National Hockey League had awarded an expansion franchise to a group based in Las Vegas was, to some, a shock. This was the first big league to base a team in Las Vegas, a city that, thanks to its gambling and sports betting associations, was for many years taboo. The NFL has even refused to air commercials touting Las Vegas — scrubbed of all gambling references — during the Super Bowl.
But it’s no longer so easy to insulate sports from gambling by keeping it away from the Strip. The public embrace of games of chance goes beyond states using lottery sales to plug school budgets: Gambling is unquestionably a public policy tool at the federal level, too. Casino gambling on tribal reservations has, since the Reagan years, been endorsed as a solution to endemic underdevelopment on Indian lands; tribal casinos bring in about $29 billion annually from Connecticut to California. Starting with New Jersey but continuing through the Deep South, Midwest, and into the cities of the North, states have legalized commercial casino gaming, which garnered more than $40 billion in revenues last year.
In 2016, the only big-league sports franchise not in a state with legal gambling (lotteries, horseracing, bingo or casinos) is the Utah Jazz. Even so, Salt Lake City is less than two hours down Interstate 80 from the blackjack tables and video poker of West Wendover, Nev.
We accept that big-league sports are deeply woven into the fabric of the United States. And we are just starting to realize that big-league gambling is now, too.
The difference, the NFL might say, is that Nevada allows straight-up sports betting, which no other state in the nation does, and in Nevada casinos, alongside the slots and crap tables, one can bet against the spread.
You can’t bet legally on sports in most states, but that hasn’t stopped a booming trade in illegal bookmaking and inventive ways of skirting the law. Many Americans like very much the prospect of risking a little of their money to test their acumen in picking winners; that’s what made the meteoric rise of daily fantasy sports possible.
And the leagues, it appears, are not so opposed to betting on sports as they’ve been in the past. Last year, teams from the NFL — the pro sports business that has been most adamantly against legal sports betting — wasted little time in signing partnership and sponsorship deals with DFS operators, even though it’s immediately clear that DFS satisfies most definitions of gambling. Not that the opposition was not without historical justification: From Shoeless Joe Jackson to Pete Rose, illegal sports gambling has been a malevolent influence on sports. The key word, though, is illegal. The legal sports betting industry has a long track record in Nevada (as do its counterparts in other nations, most prominently in Britain) that suggests prohibition may not be the answer.
So the NHL’s decision to award an expansion franchise to Las Vegas is not such a huge step. NHL cities from Montreal to Phoenix have casinos nearby, and casino advertising has been gracing the boards in arenas throughout the league for years. The league has held its annual awards show in a progression of Las Vegas casinos since 2009 with no known ill effects. It’s impossible to argue, at this point, that either casinos or Las Vegas and hockey haven’t meshed well. Finally, there’s the economic reality that Las Vegas has an arena ready for play and an ownership group willing to pony up a half-billion-dollar expansion fee. In sports, as in the baccarat pit, money talks.
The past half-century of gambling expansion shows that, when push comes to shove, governments will gladly endorse gambling if it means adding something to the bottom line. It is not surprising that professional sports teams, in many ways a microcosm of the social, political, and economic games that define American life, are following suit. In that light, seeing a team lace up with skates in Las Vegas is not surprising at all.



Tuesday, February 16, 2016

How to Know If Your Choice for President Is the Real Thing




I've found this to be true, whether you're a conservative or a progressive. For me it's been a good benchmark for identifying whether a politician will play to our strengths or our weaknesses, whether they're a thoughtful person or just apt to take the easy way out, and so importantly, whether they can stand up to big money.

Most people know a reheated biscuit is never going to be as
good as a fresh-from-the-oven biscuit. All it takes is one bite
and you know right away. When it…
THEPULSE2016.COM


How to Know If Your Choice for President Is the Real Thing

Most people know a reheated biscuit is never going to be as good as a fresh-from-the-oven biscuit. All it takes is one bite and you know right away.
When it comes to determining the best candidate to support for president, there is no taste test to tell you the “fresh-from-the-oven” choice from the “reheated” ones.
But there is one major and often overlooked issue that can be more revealing than any other about whether a candidate has the ingredients to be an effective leader for the country.
That issue is the candidate’s record on “The Big Con,” also known by the label of government-sponsored gambling, and it takes place in the form of lotteries and regional casinos.
Whether or not you wager a dollar on any of government’s gambling programs, this practice affects you.
No single act of government creates more inequality of opportunity than its promotion of gambling. Fueled by massive spending on advertising, marketing and campaign donations, politicians purposely concentrate gambling in economically-distressed communities. Financially desperate citizens have become ensnared in these government-run gambling schemes as a way to try and improve their lives and help them escape their financial condition. It has become a Hail Mary investment strategy, doomed to inevitable failure. By targeting the least advantaged, government-sponsored gambling adds to the increasingly separate and unequal life patterns in education, marriage, work, and play that now are dividing America into haves and have-nots.
For the majority of citizens who never or rarely gamble, government-sponsored gambling is the biggest budget gimmick of all. Where states authorize commercial gambling, all taxpayers — including the non-gamblers — end up paying higher taxes for fewer services, and their states end up with worse budget problems over the long term, according to research by the Rockefeller Institute at SUNY-Albany. You pay even if you don’t play.
America’s most influential leaders, regardless of party, have traditionally been opposed to The Big Con. One of them, former President Ronald Reagan, has been mentioned more on the campaign trail than any other past politician. To give his impact some context, it was reported that in one of the Republican debates, the candidates invoked Reagan 42 times. They only invoked God 16 times.
How did Reagan feel about government-sponsored gambling? When he was asked for his position on a lottery for California, Reagan boldly declared: “I prefer to govern Californians based on their strengths, not their weaknesses.”
For the first time in modern presidential politics, there are several candidates, who unlike Reagan, prefer to govern citizens based on their weaknesses. Hillary Clinton, John Kasich and Donald Trump each have been major boosters of commercial gambling and government’s promotion of it.
Trump has been one of the country’s most visible casino operators, running major casinos in Atlantic City and Las Vegas. “I left Atlantic City before it totally cratered,” he said at a Fox News debate for GOP candidates in August 2015. “And I made a lot of money in Atlantic City, and I’m very proud of it.”
No great nation has ever built prosperity on the foundations of personal debt, addiction, and the steady expansion of businesses that produce no new wealth. Relying on gambling is a sign of surrender and defeat on the part of leaders who have failed to lead.
Government-sponsored gambling represents the absolute worst of crony-capitalism and big government. It pits government’s interests against the best interests of its people. For government to win, its citizens must lose.
The alternative is to muster the courage to chart a path to true prosperity. An America freed from the yoke of government-sponsored gambling would be an America once again on the move — an America with broader and more sustainable economic growth, more honesty in government, more social trust, and the rekindling of the optimism that has long been our defining national strength.
That’s a purpose worth sacrificing for.
Les Bernal is the National Director of Stop Predatory Gambling based in Washington, DC.

Saturday, September 12, 2015

Las Vegas has a gambling problem: How to ADDICT them younger





The Future of Las Vegas Gambling Looks Like an Arcade



While entertainment is booming — the city raked in $27 billion from tourism in 2013 — young gamblers have yet to pick up the post-2008 slack. “Millennials,” game designer Darion Lowenstein tells Inverse, “pretty much do not touch slot machines. When they go to Vegas, it’s dancing and drinking and clubs and Calvin Harris.”

The slot machine, which has existed in various incarnations since the 1890s, is now almost entirely the domain of the 50-plus cohort. Have levers and buttons and Wheel of Fortune-themed cabinets lost their luster? “When the level of interaction is pushing a button for 6 seconds,” says Lowenstein, “you can goWalking Dead on it but I’m not going to be interested.”

Vegas game designers believe they have a simple solution to coax millennials into waging their wages: Keep ‘em stimulated. That means gamifying games, removing the element of chance to whatever degree that’s possible. And the Nevada legislature is on board with a newly approved-law, SB9, that paves the way for these hybrid games.

Producers like Lowenstein — whose gaming nerd cred includes stints at Rockstar, Electronic Arts, and Activision before ditching consoles for mobile phones — intend to midwife these adult arcades. Lowenstein works at Gamblit Gaming, maker of such games as Police Pooches vs. Zombie Cats In Time, Lucky Words, and Raze. The games appear to be based on the true stories of Words with Friends, and, the twist being that you can wager money on all of them. The other twist: You can currently only play them on mobile devices in the U.K. But should SB9 crystallize into law as expected, you might just be able to aim a Police Pooch at a Zombie Cat in the Mirage by 2016.

“You’re not gonna go from a slot machine to Call of Duty, where if you make all the headshots you win a thousand dollars,” says Lowenstein. Casino operators want to avoid hordes of crack gamers storming the gates. Better the devil you know, especially when that devil is a gamblified Candy Crush. The first gen of gambling games has two goals: To churn social gambling into the mix, pitting friends against each other over, say, a coffee-table sized touchscreen and making it easy to lay down money. The third, unstated goal: Avoid becoming Atlantic City or Zynga.


Let’s say a normal payback percentage is 90 percent — you get 90 cents spit back, on average, for every dollar you spend. It’s plausible you’ll see a skill-luck game where that payback increases: After you beat the boss, it bumps up to 92 percent, or maybe 95 percent when you finish a particularly tough level. It’s never going to be a dollar — for obvious reasons — but it could move in that direction.


And if that sounds far fetched, it’s worth remembering that successful gambling trends have a way of exploding. Less than a hundred people played in the World Series of Poker in 1980; in the mid-’00s heyday of Texas Hold ‘Em, the player count grew to over 8,000. Lowenstein believes we might see Neo Geo-like systems that play a variety of gambling games on one console, or adult arcade versions of popular mobile games. Millions and millions of downloads are impressive, sure, but the “big screen arcade experience” will still have a certain cachet for developers who spent their formative years in arcades.


Should games like these take off — and Gamblit Gaming’s not the only company banking on this — it could help usher in the intramural eSports era and the dawn of gambling palaces built on Street Fighter and Mario Kart. It will be nostalgic, but also cash not a hard sell for the folks currently walking past the slot machines.

“It’s freaking Mario Kart and it’s fully gamblified. Recreating that experience would be amazing.”


https://www.inverse.com/article/6049-the-future-of-las-vegas-gambling-looks-like-an-arcade