Wavy70
Wavy70
Joined: Nov 3, 2009
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January 7th, 2011 at 4:40:43 PM permalink
Quote: thlf

Steve Wynn is now a citizen of Monaco. He was granted Monegasque citizenship last month by the principality’s leader, Prince Albert II, without giving up his U.S. citizenship.

From this weeks gaming today.



I saw that the other day. Odd for a vehemently pro American person to become a subject of a European Principality. He does stand to make billions off of it.
I have a bewitched egg that I use to play VP with and I have net over 900k with it.
pacomartin
pacomartin
Joined: Jan 14, 2010
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January 7th, 2011 at 8:37:42 PM permalink
There is no reason that he did this. It was not necessary for his position. It appears to be a vanity move.
MrV
MrV
Joined: Feb 13, 2010
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June 2nd, 2012 at 10:53:40 PM permalink
Perhaps he can write off his Las Vegas losses against some of his Macau profits.
"What, me worry?"
rxwine
rxwine
Joined: Feb 28, 2010
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June 2nd, 2012 at 11:26:26 PM permalink
Interesting, as the citizens of Monaco are forbidden to enter the gaming rooms of the casino.
prisoner of gravity
FleaStiff
FleaStiff
Joined: Oct 19, 2009
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June 3rd, 2012 at 12:39:11 AM permalink
He doesn't have to be in the boom towns and Asia is only one palace revolt away from austerity budgets and suppression of sinful behavior contrary to the doctrines of the late Chairman Mao. Oh, okay...it would be suppression of non-Islamic behavior contrary to the teachings of the Koran. Same difference.
SanchoPanza
SanchoPanza
Joined: May 10, 2010
  • Threads: 34
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June 3rd, 2012 at 5:45:29 PM permalink
Quote: Wavy70

Odd for a vehemently pro American person to become a subject of a European Principality. He does stand to make billions off of it.


At a time that a record number of Americans is renouncing citizenship (witness No. 2 at Facebook going Singapore), Wynn may, in time, join the trend. The tax benefits alone can be immense. No wonder why Chuck Schumer and some other nincompoops in D.C. want to limit expatriates' visits and time spent in the U.S.
pacomartin
pacomartin
Joined: Jan 14, 2010
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  • Posts: 7891
July 25th, 2012 at 6:26:43 AM permalink
Wynn resorts 2nd quarter report was not so good. Las Vegas Sands reports tomorrow, but stock has been dropping rather steeply in the last week.

Quote: Wynn 2nd quarter


LAS VEGAS, Jul 17, 2012 (BUSINESS WIRE) --Wynn Resorts, Limited (Nasdaq: WYNN) today reported financial results for the second quarter ended June 30, 2012.

Net revenues for the second quarter of 2012 were $1,253.2 million, compared to $1,367.4 million in the second quarter of 2011.

The revenue decline resulted from a 7.1% decrease in revenues from our Macau Operations and an 11.6% decline in our revenues in Las Vegas, as both properties were negatively impacted by lower hold in the 2012 quarter.

Adjusted property EBITDA (1) was $384.1 million for the second quarter of 2012, compared to $447.0 million in the second quarter of 2011.

EvenBob
EvenBob
Joined: Jul 18, 2010
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July 25th, 2012 at 1:59:09 PM permalink
LVS stock has plummeted almost 40% since Ap, not good. They
must be freaking out at the LVS properties, those are
sky is falling numbers. Things in Macau are not as rosy
as the news says it is, growth is rather stagnant from
what I've read. Good by Wall St standards, but not good
be casino standards.
"It's not enough to succeed, your friends must fail." Gore Vidal
pacomartin
pacomartin
Joined: Jan 14, 2010
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July 25th, 2012 at 7:34:39 PM permalink
I guess when you report good news for so long, the market freaks out at a mediocre quarter. The Sands report concentrated on future growth and long term potential, which is what you do when your numbers aren't very good.

Sands Bethlehem did as good as ever. But that is a very small percentage of the company.
Las Vegas Operations had half the EBITDA of last quarter, and down by 1/3 from a year ago.
Macao Property Operations were down a little, but they opened another casino in COTAI strip, so some growing pains.
Marina Bay Sands in Singapore was probably what spooked the stockholders. It seemed to be by far the worst quarter since they opened two years ago.

It might be a good time to buy some Sands stock. I think the market is overreacting.
98Clubs
98Clubs
Joined: Jun 3, 2010
  • Threads: 51
  • Posts: 1715
July 25th, 2012 at 7:53:50 PM permalink
Quote: EvenBob

LVS stock has plummeted almost 40% since Ap, not good. They
must be freaking out at the LVS properties, those are
sky is falling numbers. Things in Macau are not as rosy
as the news says it is, growth is rather stagnant from
what I've read. Good by Wall St standards, but not good
be casino standards.



It's a buying opportunity... Wall Street-wise.
Recent epitaph: Found dead by a Pokemon Go Player

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