On the Call: Wynn Resorts CEO Steve Wynn

Casino company Wynn Resorts Ltd. recorded a loss for its third quarter Tuesday, including the cost of rolling over debt, but it also reported a 23 % increase in revenue in a statement one analyst called "a happy release."

Billionaire CEO Steve Wynn focused in a conference call with investors afterward on the company's plans for expansion in Asia, which produced that revenue jump, and on his frequent claim that the Obama administration has frightened U.S. consumers and business owners.

Wynn said struggling Las Vegas has "seen the bottom" and praised one analyst for asking about what might help things improve in Las Vegas.

View Full Story

NYC's big casino gamble begins

Will the planned groundbreaking today of New York City’s first casino ultimately infuse a bit of Las Vegas in Queens?

The project, known as Resorts World New York, is set to make over the aging Aqueduct Racetrack site with a sleek, shiny design. Its owner, Genting New York, plans to install 4,500 video slot machines, the first 1,600 of which will be ready by May, project officials said.

“Upscale, certainly,” said Genting spokesman Stefan Friedman of the concept yesterday. “Definitely not Vegas, though.”

The $325 million construction project includes building a two-story sports bar and lounge, a food court, a high-end Chinese restaurant and an indoor water show to open by the end of next year. A new pedestrian bridge will connect to the Aqueduct subway stop.

View Full Story