Columnist
Jeff Simpson: Why Wynn, Stations are Likely
to Pass on Penn
Among those planning or hoping
to compete in Pennsylvania are: Boyd Gaming
Corp., Venetian parent Las Vegas Sands, Harrah's
Entertainment, Binion's owner MTR Gaming and
Millennium Gaming, the owner of the Cannery
and operator of the Rampart.
But
Steve Wynn's Wynn Resorts and Station Casinos
are taking a pass on gaming opportunities there.
Wynn
told me a couple of weeks ago that Pennsylvania's
high tax rates and the state's failure to allow
table games are the reasons he doesn't plan
to compete there.
"We're
builders of destinations. Not slot parlors,"
Wynn said.
And
Station bosses were almost as succinct last
week in summarizing why they are not actively
pursuing slot licenses in either Pennsylvania
or in Florida's Broward County.
Station
Chairman and Chief Executive Frank Fertitta
III, President Lorenzo Fertitta, Chief Financial
Officer Glenn Christenson and Chief Development
Officer Scott Nielson met for 90 minutes last
week with Sun gaming reporter Liz Benston and
me to discuss the company.
Although
Frank Fertitta III said "Never say never,"
about plans to operate in either state, he followed
by saying: "When we look at jurisdictions
with slot parlors and 50 percent marginal tax
rates, we think we have better ways to spend
our time and money."
On
the other hand, the limited number of slot licenses
available in populous Pennsylvania make the
state attractive for others.
Boyd
and Las Vegas Sands each want to build one of
the state's seven stand-alone slot parlors.
Millennium
and MTR Gaming want licenses for Pennsylvania's
seven racetrack slot parlors, called racinos.
And
industry behemoth Harrah's wants slot parlors
in the state's two biggest cities, Philadelphia
and Pittsburgh, as well as a racino license
outside Philadelphia.
Lorenzo
Fertitta said those operators aren't foolish.
"Anyone who gets a license is going to
make money," he said.
But
it's not enough money to convince the Fertittas
-- or Wynn -- to spend the time to play in Pennsylvania.
***
Nielson
told me later in the week that disgraced Republican
casino lobbyist Jack Abramoff had lobbied on
behalf of a central Michigan Indian tribe to
prevent a tribal casino Station is trying to
develop near Grand Rapids, Mich.
Station
executives have never employed Abramoff, he
said. In fact, although the Fertittas are strong
Republicans and regular GOP donors, company
executives have never met Abramoff, Nielson
said.
Station's
Gun Lake tribal partner, Nielson said, "was
the victim of what he attempted to do."
***
If
the first craps-table throw was indicative of
the South Coast's future success, Boyd Gaming
and its Coast Casinos subsidiary are poised
to do well.
A
few minutes after the South Las Vegas Boulevard
-- extreme south -- locals casino opened its
doors a couple of weeks ago, a middle-aged man
dressed in army-style camouflage stepped up
to the casino's six-table crap pit, ready to
be the first to battle the game's constant house
advantage.
After
buying $20 in never-used one-dollar chips to
keep as souvenirs, the felt warrior placed three
twenties on the table -- but not on the pass
line, where most players place their initial
bets. He bet on the don't pass.
"Money
plays," said the dealer.
And
then the man shot himself in the foot, rolling
an 11, a loser for a don't pass better.
"Yo-leven.
Take the don'ts," said the dealer.
Making
one last-ditch attempt to come out ahead, the
South Coast's first roller placed three hundred
dollar bills and a twenty on the don't pass
-- $320.
And
rolled a seven -- another loser.
"I
gotta get out of here," he said.
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