Thursday, February 7, 2008

Slot Players not the Only Losers at Wynn, Venetian, and Bellagio

In a wonderful, rare case of poetic justice the Review Journal reports on the losses of the bosses, and it's massive.

Sheldon Adelson, third richest man in America has seen his fortune drop 40% or $10.8 BILLION dollars since October. Apparently Sands stock isn't performing up to snuff, and all the grand opening press for the Pal can't save it.

Across the street at Wynn, Steve-baby has lost a mere $1.4 Billion, or a third of his stock value.

At at the other end of the strip, my personal favorite, the real lion of industry Kirk Kerkorkian has lost $2.6 Billion or a third of his stock value in MGM Grand. I'm sure Kirk isn't sweating it, he's been there and done that his whole life.

All these guys are pretty old, especially Kirk, and certainly they could never spend all their riches -- so I don't anticipate any charity events for their benefit.

That's the way the stock market tumbles -- I'd recommend buying stock in Station Casinos, but of course they just went private.

It almost, and I stress ALMOST makes me want to drop a twenty in Kirk, Sheldon, and Steve's tight-ass slots. It just might help their bottom line.

But, I say they are getting just what they deserve -- bend over boys!

Well, you know what they say -- the bigger they are, the harder they fall.

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