Casino Icon Steve Wynn recently spoke in an interview concerning the lifeline of Las Vegas based on the current stimulus package presented by President Barack Obama. Although the new stimulus package is reported to bring $1.5 billion (of a $787 billion package) to the state of Nevada, Wynn doesn’t believe that this will solve the state’s problem.

“I think a great percentage of the stimulus has been wasted. It didn’t do what it was supposed to do,” Wynn said. “We did not create jobs. Nothing I’ve seen has been a job creator.”

In an interview with the Las Vegas Sun columnist, Jon Ralston, Wynn revealed that a change in tax structure could be one of the best ways to create incentives for companies to create new jobs.

“If you wanted to create jobs in every sector of this economy and every community … you could do it in less than a month without hiring any federal employees,” Wynn said. “You’d simply say if a company can prove that it has increased its regular work force, with health insurance … we will give you a tax credit to support the payroll of that new hire.”

In an effort to practice what you preach, Wynn created over 4000 new jobs last year. These jobs did not come without a price, however. The work weeks were reduced, salaries for full time employees were also reduced, 2009 bonus were cut, as was the matching of a 401K program.

Wynn said that it would be a bad decision for Gov. Jim Gibbons to go after the gaming industry for more taxes. “I know that if they go after the gaming industry we will have massive, unbelievable cutbacks. The unemployment rate will go to 15 percent,” Wynn said.

An investigation has begun concerning the firing of six security workers at the M resort last year. The National Labor Relations board has already filed a complaint against the company claiming that there were unfair labor practices.

After its opening on March 1^st, the M resort allegedly fired six security guards after they raised concerns. These concerns included the security of the employee files, sexual harassment, sexual discrimination, and safety issues.

According to a report, Bruce Allen, one of the six workers fired, filed a charge against the M resort after stating that he found personnel files in a break room while on one of his shifts. The files consisted of pictures of the emplyess that were terminated, as well as other personal and confidential information.

Anthony Marnell III has disputed this charge by stating that the workers were in fact fired after they were busted for sorting through these confidential files. “We take it very seriously,” Marnell said Monday. “It’s our duty to protect the confidential information of our team members and the confidential information provided by future applicants for the resort.”

At this point a complaint has been lodged, asking for backpay for the terminated employees, but the resort has yet to respond. The hearing date is set for May 27^th, and the M Resort has until April 14^th to respond to the claim.

“Whether they were left out or in a locked drawer,” Marnell said. “It is not their right to be able to go through them. They can spin it however they want, but those are the facts. I am absolutely mystified that the NLRB would try to penalize the M for trying to protect the confidential information about employees and future applicants.”

As for the sexual harassment case, Bruce Allen stated concerning a particular female, “Every day she came to work, for eight hours it was nothing but the most profane, vulgar description of her sexual habits with her husband and what she likes. We went to the director on three different occasions. All she told us is that we complained too much.”

Austrialian Gambling Networker, James Packer is making headlines again. This time. He is focusing on Crown Casino.

Media Man Enterprises reporter, Greg Tingle states: “Australia’s James Packer looks to be on the upswing again.  Face to face appearances with Sir Richard Branson, social gatherings and another potential investment into Las Vegas.  Maybe some of Branson’s positive can do attitude has rubbed off on our James when they chatted in Melbourne last month. I can tell you from first hand experience that Branson’s positive attitude pretty infectious.  He helped us go from 3 websites to 7 in the world financial recession period no less!  Recently Branson was quoted, ‘What recession?’, so perhaps Packer may of the same sort of thinking.”

“One can bet that Packer would be keen to regain some of this financial wealth back which was halved in the past one year plus. One would think that if there are still some true casino ‘whales’ left they would frequent Las Vegas of of course Macau, where Packer just happens to be pushing along Crown Macau and The City Of Dreams.”

It appears as though Mr. packer has set his sights on the CityCenter in Las Vegas which is currently under great debate with its Dubai Investors and the MGM Mirage.

As stated in the Wall Street Journal, “Mr. Packer, whose Melbourne-based gambling company, Crown Ltd, has large casinos in Australia and China, is discussing the possibility of an investment in the project with Colony Capital LLC, a Los Angeles-based investment firm, according to this person.  Colony and Crown “would step in and take over the funding requirements. The idea is to keep City Center going,” said the person, who is close to discussions.”

As of late, Dubai World has invested $4.3 Billion into the City Center Construction, but has stopped making payments as of March of 2009. In order to not lose the property, MGM Mirage has put up an staggering $200 Million to keep the banks from taking it away.

According to a Bloomberg report, the MGM Mirage has hired Morgan Stanley to evaluate bids for land-based casinos in Michigan, and Mississippi.

An unnamed source reported that there have been private discussions regarding the sakes of some assets. The MGM Mirage based in Las Vegas is also responsible for the MGM Grand in Detroit, as well as the Beau Rivage in Biloxi, Mississippi, and the Gold Strike in Tunica.

With debt mounting against MGM, a sale of some of these properties would likely offset some of the burden, and allow them to continue to focus on the construction of the City Center in Las Vegas.

Currently MGM faces lawsuits as Dubai World is suing them to remove their responsibility from the partnership, as MGM continues to fall under $7 Billion debt.

April 13 was the deadline to reach a plan of action in order to save the process of the City Center. Kirk Kerkorian, the 91 year old owner of MGM Mirage has been trying to keep it all together by any means possible. His latest move was to pay $200 million towards their debt which also included Dubai Worlds share of the funding.

Colony Capital LLC, a buyout company based out of Los Angeles, California has discussed possible investments in the newly created City Center.

To finish the construction on the City Center, $800 Million is required in order to obtain the $1.8 Billion loan in order to finish. MGM has declared that they can front their share, and there is speculation about the involvement of Gambling Magnet James Packer. Alan Feldman, spokesperson for MGM stated, “We have the money to complete CityCenter.”

The M has figured out the secret to keeping business booming. The M Resort in Las Vegas, Nevadahas continued to thrive even in this depressed economy. In fact, to walk into this resort, one would almost get the sense that business is booming everywhere.

The buffet and coffee shop lines extend to the slot machines, as you look on rows of machines with active players. The bars, lounges and restaurants all are filled with people waiting for seats. Over 8,000 covers are collected at these venues per night, and there seems to be no difference between weekdays and weekends.

This is a contradiction to other casinos throughout the United States and the world today. Chief Executive Officer Anthony Marnell III, and the namesake for the hotel and casino stated, “This is the busiest I’ve ever seen a food and beverage department.”

The M Resort Casino has drawn in many newcomers as it is the newest casino resort in the area, much like the Wynn did in its first years. Many gamblers are attracted to the newer casino resorts as well as they feel that the hotels will loosen their slots some to keep more players returning night after night.

The secret of success appears to lie in marketing and their club memberships rewards programs. As a participant in the rewards program, the casino offers a free buffet. This free buffet includes a station where players and guests can enjoy live cooling shows. The attraction to this type of show has encouraged more visitors, and caused the M to expand by over 100 seats.

This rewards program awards gamblers one point for every dollar gambled, and returns one dollar for every $333 gambled. “They’re doing everything right to drive traffic,” said Anthony Curtis, publisher of the Las Vegas Advisor newsletter for gamblers. “Word has gotten out about how good their buffet is, and they have good video poker (machines).”

“Customers will tell you exactly what they like and don’t like,” Marnell said. “It became very clear to me that this is more than trial business — it’s repeatable.”

So it seems like the formula is clear…please the customers, and get repeat casino business.

Bally’s sportsbook has had a shocking change for some of its gamblers. The sports book where gamblers would go to place their wagers on the horses, suddenly is no longer. A sign hung on the premises stated that any gamblers wanting to participate in sports betting should direct themselves next door at the Paris, Las Vegas.

“The Paris sports book is in such close proximity (to Bally’s) that we didn’t think it would inconvenience our guests to filter them over to Paris for the time being,” said Deanna Pettit, a spokesperson for Bally’s. “It’s a captive group within Bally’s and Paris, so we should be able to service our guests with the Paris sports book.”

One gambler flew from New York to Vegas for this specific sports book, and was very disappointed to find out it no longer existed. “It was almost like the ‘Twilight Zone’ seeing the place closed,” said Harvey Cherches. “You don’t expect to see a big hotel race and sports book that’s been there for so many years just close like that.”

Pettit disclosed that the sports book closure, and relocation to Paris is a temporary move. This 285 seat sports book is scheduled to reopen in September according to Pettit. Although she did not comment on the reason for the closure, she did say that remodeling was not a factor in the decision. Therefore, in the fall it is predicted to open in the exact same location.

The move to Paris from Bally’s was an easy adjustment for the casino since both properties are owned and operated through Harrah’s Entertainment. The problem here lies with the customers. Their loyalty does not necessarily mean they will stick with the same company.

Once again, Las Vegas is being hit hard by the crushing economy. The third large gaming company in the last 12 months will be forced to file bankruptcy. The Riviera Holdings Corporation is set to file for bankruptcy in the upcoming week.

Last Monday it was reported that the Riviera did not complete a $4 milllion interest payment that was due. This has been a common theme as of late in the casino market. Although the company has a grace period of 3 days in order to complete the payment, the casino operator has revealed that they have no intentions of making the payment.

The $245 million dollar credit is through Wachovia Bank, and without intent to pay, the bank will be forced to default the Riviera. The Chief Executive Officer, William Westerman stated that they decided not to make the payment in order to maintain more liquidity. Many casinos have gone this route in order to try to keep their business going as long as they can, all the while fighting the banks about their debt.

Westerman claims that the lack of company revenues is due to competitive room rates, and falling numbers in convention attendance in Las Vegas. Even with the current situation, Westerman maintains that he “is confident that we will maintain sufficient cash flow to meet our operating obligations and maintain our properties.”

The Riviera is located on the actual Las Vegas Strip, and employs 1,137 workers in the casino. Last year they suffered revenue drop in hotel rooms by 12.5 percent. This was due to occupancy dropping 9.2 points from the previous year to 83.8 percent. The Riviera will continue to struggle for some time, as the fourth quarter statements show a net loss of $12.7 million which equates to $1.02 a share.

Las Vegas is a city of lights that is always beaming. On Earth Hour 2009, they decided to participate and conserve energy for that one specific hour.

Visitors to the city were amazed at seeing the city without lights. “It was odd to see it dark,” Rob Kilo said. “The whole concept as a visitor is seeing the lights. … Here everything is lights.”

Earth Hour is a very important event especially in this day and age when people are concerned about the Earth and the platform for “Going Green.”

“Earth Hour is about what you do at home, it’s about those small changes you can make. It is making sure your lights are turned off, making sure the power strip to your computer goes down,” said Las Vegas resident Corrine Hall. “It’s just small things, it’s taking five minutes to change something small.”

People around the world are noticing the importance of conserving energy and are making a more concerted effort to keep it that way.

“I use the CFL light bulbs, turning TVs and lights off when we’re not in the room, we unplug all of our appliances when we aren’t using them, phone chargers, and everything like that because those use energy even if they’re not turned on,” said Tommi Willingham, a UNLV student.

The crowds in the city of Las Vegas were filled with “oohs” and “Ahhs” as the lights began to turn off all the way down the strip, ending with the fading of the beam of light at the luxor, which can be seen from outer space.

“One of the fascinating things about the Springs Preserve is the fact that they’re using solar power outside here in the parking lot and a town like this it seems ridiculous that we don’t,” said Earth Hour viewer Dale Gilbert.

“This is something that is going to have to happen. It’s not even at a point whether or not it will — it’s going to happen one way or another,” stated Gilbert.

You never know what to expect when you’re dealing with sin city. The Las Vegas Sands Corp. may possibly be ready to fold or might just be playing the biggest bluff of all time

Executive Vice President Brad Stone recently relieved himself of the duties as head of the company’s construction division. So makes it the second high-level person to leave the company behind this month alone. The first high-level officer to leave was President Bill Weidner, who was asked to resign on March 8.

Currently the Las Vegas Sands is under construction on the $5 billion for Rena Bay Sands in Singapore. This structure, which is hoping to open by December this year is a pivotal factor in increasing the future of tourism in Singapore.

Joe Greff, a gaming analyst for J.P. Morgan, told investors at: “Losing Brad is a big deal.” According to Greff, stone was a major player in construction of a casino.

Justice Stone is finding his way out the door, he has been revealed that the Las Vegas Sands Casino has been in talks considering an $800 million debt. Sheldon Adelson, current chairman and chief executive officer said that he was still evaluating the idea, according to the Associated Press.

The opposite polarity of these two decisions has caused great confusion in the casino market. Clearly the loss of Stone, is a huge blow, especially when considering Singapore’s position, however the idea that they could buy back their $800 million debt appears to show they are moving in a positive direction.

Once this information was revealed shares of the Las Vegas Sands shot up causing analysts to question if there really is a more positive direction they’re going in. An investment analyst from KDP, Barbara Cappaert mentioned, “It is a prudent move, and one, depending on price, that could be fairly successful.”

One way or the other, the and the Sands is keeping people on their toes about the decision-making process which will likely keep them protected throughout the coming months.

There is trouble in Vegas this week as Harrah’s, one of the largest gambling casino companies as one victim to a drowning economy. The recent announcement in filing with the securities and exchange commission claimed that Perez is currently in $23.1 billion worth of debt.

The revenue of the company is down over 10% from 2007, and cash flow has decreased from 2.81 billion in 2007 to 2.36 billion in 2008. This is a critical point for Harrah’s casino as analysts are projecting further decline in the next two years, causing the company to be at risk of default.

With the increasing debt that Harrah’s Casino is accumulating, it doesn’t prevent their Chief Executive Officer Gary Loveman from receiving over $39 million last year. Figure is 157% increase over his 2007 salary.

In its current situation the accumulated debt will steer away loans of money, therefore affecting Harrah’s ability to advertise and create new opportunities for income.

Already Harrah’s has made dramatic cuts in the company by reducing their workers by over 7000. “Actions have been taken to reduce costs, but we fear these actions, albeit necessary, will aggravate an already discouraged work force and further degrade properties already in need of great repair,” said Andrew Zarnett, an analyst for Deutsche Bank.

He continued by saying: “This could have the unfortunate repercussion of alienating customers, forcing them to seek play at competitors.”

Is the skyline of Las Vegas continually changes in the economy continues to get worse, it’s conceivable that many casinos will be affected. Although gamblers continue to flock to Las Vegas is one of the top tourist destinations, they have tightened their grip on their wallets and are less likely to spend beyond their means. The analysts project that the economy will get worse before it gets better, in fact they are even suggesting that you prepare yourself for 2010.