Comment of the day – Our gumshoes in Macau are waiting for answers!

Ryan writes:

A missing part of the story re: the Gaming Commission

Did you notice that Wynn’s casino was declared “suitable” (ie not corrupt), with the condition being that they were approved so long as there wasn’t actual Macau corruption?

What is the point of approving a casino under the guise that they’re not corrupt if all the questions surrounding possible corruption are ignored?

From the SHNS on it yesterday:

The five-member commission held a hearing in Boston on Monday to determine Wynn’s suitability to hold a casino license in Massachusetts. Background investigators recommended to the Gaming Commission that Wynn be found suitable on the condition that he explain his company’s business practice in Macau, an administrative region in China and lucrative new frontier for gaming operators.

Wynn later called Macau the “squarest place I’ve ever been.” Macau!

What the heck are these “background investigators” doing if they can’t bother to do the actual background checking that could really determine suitability?

[from Ernie's thread.]

… And did you catch this delightful morsel?

“The issue is: Do we allow illegal activity in our casinos?” Wynn Resorts chairman Steve Wynn told the commission. “The answer is no.” He pounded the table. “No.”

He actually pounded the table, folks. Pounded that damn thing like a cheap steak, I’ll bet. It was John Bonham vs. Keith Moon. There’s a guy who believes what he’s saying — BAM!


3 Comments . Leave a comment below.
  1. That $16 million wasn't actually a 'bribe'!

    And it wasn’t paid ‘inside’ the casino!

  2. Old lawyers' adage...

    …which I’m sure Bill Weld knows: “If the facts are on your side, pound the facts. If the law is on your side, pound the law. If neither are on your side, pound the table.”

  3. Wynn was booted from New York because of his Anti-Union business model....

    Wynn said of Bridgeport, CT:

    He also said bluntly that the casino, by itself, was not going to solve Bridgeport’s economic or social problems.

    “Get it straight,” he said. “I think I know how to bring people to Bridgeport, and keep them coming, but there is no reason on earth for any of you to expect for more than one second that just because there are people here, they’re going to run into your store, or restaurant, or bar.

    “That didn’t happen in Atlantic City,” he said. “It should never have been promised in Atlantic City. It is illogical to expect that people who won’t come to Bridgeport and go to your restaurants or your stores today will go to your restaurants and stores just because we happen to build this building here.”

    There’s NO Steve Wynn in Connecticut.

    Steve Wynn got chased out of Pennsylvania because he couldn’t tolerate the challenge.

    FROM: Investigating Wynn Resorts

    Faruqi & Faruqi, LLP Is Investigating Wynn Resorts on Behalf Of Its Shareholders

    NEW YORK, March 15, 2012 /PRNewswire via COMTEX/ — Faruqi & Faruqi, LLP, a national law firm concentrating on investor rights, consumer rights and enforcement of federal antitrust laws, is investigating potential wrongdoing at Wynn Resorts Ltd. (“Wynn” or the “Company”) /quotes/zigman/88601/quotes/nls/wynn WYNN -0.06% . The investigation focuses on whether certain officers and directors of Wynn violated the Foreign Corrupt Practices Act (“FCPA”) by providing improper monetary benefits to government officials in Macau.

    The Securities and Exchange Commission (“SEC”) sent a letter to Wynn last month asking about a $135 million gift to the University of Macau Development Foundation.

    ” “This is a nuanced area, this is a complicated area,” said the commission’s chairman, Stephen Crosby, in an interview. “How do you weigh a company’s behavior in other jurisdictions if they’re complying with laws that are woefully less rigorous than your own? Does that matter? It’s a legitimate question.” ”


    This should convince any reasonable person that REPEAL THE CASINO DEAL is the only sensible option.

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