In a change of horses that might kick-start development of dormant Resorts World Las Vegas, boss Christian Goode is out, replaced by Gerald Gardner, a former top aide to 
Nevada Gov. Brian Sandoval. The groundbreaking for the project has now been formally pushed back to sometime in 2Q15. “Creating something substantial that will be a draw to both locals and visitors alike is no easy feat, and we want to get it right,” Genting Group Vice President of Corporate Communications Michael Levoff said by way of explanation. He added that Genting has been quietly at work on “utility relocation” and on the permitting process.
Since Genting’s resort aspirations in Florida and New York have come a-cropper, the company will be bringing executives in from those states to oversee Las Vegas construction. (Ironically, Goode had been in charge of the abortive Resorts World Miami.) With $5 billion in cash on hand, liquidity is clearly not an issue with Genting’s hesitancy toward the Strip.
* Steve Wynn‘s going to be having fewer zeroes on his paychecks, as Wynn Resorts adopts a new executive-compensation formula oriented toward incentive-based pay. Wynn’s face salary drops from $4 million a year to $2.5 million, but he can make back the difference in equity. Perhaps the most startling change is that Wynn will have to reimburse the company for use of its jets on personal jaunts, though even though that is watered down by a $250,000 annual credits. Wynn certainly doesn’t need to worry about job security: His employment contract has been extended through 2022.
* Table games are such a hit in Maryland that both Horseshoe Baltimore and Maryland Live want more of them. Each casino proposes subtracting 300 slot machines from the floor. The Caesars Entertainment property would add 30 tables, for a total of 177. Cordish Gaming‘s Maryland Live wants to add 13 tables, upping its count to 202. The requests have been recommend for approval by the Lottery & Gaming Control Commission. Leaving aside the matter of player preferences, table games bring in a revenue mix that’s more to a casino manager’s liking, being taxed at 20%, not the 60% levied upon slot machines. A consultant for the state has estimated that the state would make $498,000 less of Maryland Live but 260 grand more off of Horseshoe. However, “community impact grants” for area policing and an employment center could suffer.
