Casino Mogul Calls The Bottom On Vegas, And Slams The Government On Freewheeling Conference Call

Steve Wynn 1

It sounds like you missed quite a show on the Wynn conference call.

Kid Dynamite flags several choice quotes from CEO Steve Wynn.

The good news is that he sees the floor in the Vegas economy:

“This is the first time on the conference call that I’m going to say I believe that we’ve seen the bottom in Las Vegas and I don’t know how fast it’s going to get better, but I don’t think it’s going to get any worse.”

And he also has some choice political comments aimed at Uncle Sam and The Fed:

“I mean, one of the reasons I’m so angry about this, and there’s no question I am, is that I have always had a sort of a protective attitude towards my employees. I consider us a family. And I’ve always thought that we, as a company, if we stayed healthy, that we could protect our employees in every way possible. And now I see the government destroying the value of the dollar, lowering the quality of life and the standard of living for the working class of America, the very people that they’re supposed to represent. And sure, we’re going to give paychecks out, but they’re going to be $0.60 on a dollar paychecks. And all these people are coming up for Social Security and Medicare. They’re going to get paid with $0.60 and $0.70 on a dollar, dollars. I remember hearing the President say that the middle class has gone down and the rich get richer. The reason the middle-class relative position deteriorates, if it does at all, is because of the government. Not because of people that creates jobs and build companies. It’s because of the government. And what happened now is the American public has awakened to this miserable truth. And they see right through with phony rhetoric. And if that’s true, we’re going to get a different kind of leadership in Congress that recognises what it takes to run this country properly using common sense. And that’s the reason that I think that this stinging rebuke that the President is going to get tonight has to have a proper effect on him and other like-thinking hypocrites.”

One government he does like? The government of Macau:

More customers, longer stays, everything that the government of Macau intended to happen in Macau is happening. Here’s a government with a plan, with a common sense plan, and they employed experts to execute the plan. A bunch of us that do this sort of thing.

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