Steve Wynn - AC Superhero or Savior?

October was another shitty month in Atlantic City. 10 percent off from last year. Considering auto sales were way off from even that number maybe gambling is recession proof. LOL/

The Water Club at Borgata is not doing nearly the business that Boyd had expected. Their stock price is at 1/4 of what it was when the Borgata opened 5 years ago and only a fraction of the stocks high point. This has put some of the executives on the hot seat. Which is bullshit. Larry Mullin is the best casino executive this town has produced since Peter Boynton left town in 1995.

Pinnacle has put their Atlantic City project on hold indefinitely. I told you that 6 months ago. MGM has put their Atlantic City project on hold. Its the early 1990s all over again. For almost a decade Atlantic City was deluged with sketches of the next big thing. Then somehow it would go down the shitter.

I remember specifically having breakfast with my father reading about The Quarter to be built at the Tropicana. We laughed hysterically because at the time it had seemed so far fetched. The tunnel was supposed to bring Atlantic City 3 new casinos. The crown jewel of which was the return to Atlantic City of Steve Wynn. That never happened. We only got the Borgata.

Its deja vu all over again. We need Steve Wynn to start buying in AC on the cheap. We know that he has problems of his own in Maccau and Las Vegas, but those towns dont adore Mr Wynn like AC does. Lets throw him a birthday party and get him to buy Bader Field for $5. He'll turn around and sell it to someone else for 10 billion, but it will rejuvenate Atlantic City.

Not to get off on a rant or anything.

AJ - Out