Two Way Hard Three | Las Vegas Casino & Design Blog

May 30, 2008

Vegas Gang #9 - "Wynn + Harrah's = Good Times?"

Posted by Hunter

The latest episode is live - check out our discussions here:

Comments welcome below...


Read archived comments (10 so far)
June 1, 2008 10:59 PM Posted by Hunter

No comments on this episode from y'all but I just went back and listened, which I don't usually do, and I'm glad I did.

I noticed a few technical problems I want to fix next time, specifically volume issues...

Also, don't forget that you can suggest future topics here.

Lastly, and this is just a glimmer in our eye, but we're considering the possibility of a live show in Las Vegas, possibly at the same time some other popular Vegas 'casts record. I can't say more - too many things up in the air - but there's a chance something could go down in August, if the dice roll the right way.

June 2, 2008 4:31 AM Posted by detroit1051

Hunter, I wrote a Comment, but it vanished before being published, I think it was something I did, not a problem with your system. I can't remember what I said, so it must not have been very good.
I did get a kick out of the Harrah's/Wynn discussion. Steve would never consider any relationship which would even remotely affect his authority, even indirectly. At this point in his life, ego is far more important than any possible financial relationship. Macau, Encore and the development of the golf course property will be his crowning achivements.

June 2, 2008 11:23 AM Posted by Jeff in OKC

The show was great, as usual. I usually listen at least twice, in order to get the most out it.
I have a couple of hosting suggestion, Hunter.
In order to eliminate the 5 second silence after you ask a question, you might ask the question to a specific member of the group, and rotate who gets asked first in a specific sequence, so the members know who is next and can prepare their answers.

June 2, 2008 11:42 AM Posted by Hunter

Thanks Jeff.

Yeah, I'm learning to be a better moderator as times goes on.

Also, I'm glad I listened back because I heard a few audio issues that I'll fix for the next episode - I can remove those little pauses if they do occur without changing any of the content... Plus sound quality issues, etc...

June 3, 2008 9:46 PM Posted by GregoryZephyr

Interesting article in Bloomberg today in case you missed it:

"Casino Bonds Crush Harrah's as Recession Hurts Apollo"

June 4, 2008 1:58 PM Posted by Jeff in OKC

I have a theory re: Harrah's. Gary Loveman is not a true casino man, he's an economist. I think he's about 48 years old, and, by all accounts a solid family man. The weight of servicing an equity strip that is larger than CityCenter is taking all the fun out of the business for him. Statements from him and his "Propeller heads" (As named in "Winner Takes All") lead me to think they don't love the casino business. Mr. Loveman won't even live in Las Vegas, he just commutes from Boston.
Rather, it's more of a marketing research study for them, which is about to reach its end. They are not gamblers, in any sense of the word. The debt load has all but eliminated any ability to build, or acquire anything of substance. Which has taken what's left of the fun out of the business for them.
I see a middle age guy, who's made lots of money personally, in a business he doesn't really love, going through hard times not totally of his doing.
I think he'll soon seek other opportunities.

June 5, 2008 9:48 AM Posted by David McKee

Per Jeff's point, there's an $18 million payday for Loveman if he leaves *before* the first year under Apollo/TPG has run its course, which gives Apollo/TPG a big incentive to keep Loveman happy -- and offers Loveman a not-inconsiderable reason to walk.

June 22, 2008 6:07 PM Posted by Joe

Say? Why dont people on this blog talk about Paris las vegas at all? How is the expansion doing? Is there any pictures of it?

June 22, 2008 6:14 PM Posted by Hunter

Paris Las Vegas expansion? You mean renovations perhaps?

Anyway, I've stayed there a few times and written about it but to me, it's not all that interesting since not much has changed since the place opened.

I see Paris as a firmly mid-level hotel, built for next to nothing due to shrewd management and development choices, that provides a nice backdrop for Bellagio's lake.

June 22, 2008 9:08 PM Posted by Joe

iv stayed there preveously and the renovation was HORRIBLE! Everything was pink and looked almost like the flamingo go rooms. It did not match the theme at all. And the carpet in the hallway looked exactly like the new bellagio casino carpet except that it is brown.