MGM Resorts International CEO Jim Murren has had a come-to-Jesus moment on Sheldon Adelson‘s proposed NFL stadium. After all, MGM stands the most to benefit from proximity to its all-but-certain Russell Road location. Failing to fund the stadium, Murren told legislators, would be “just tragic, really. Why not? What could possibly be a valid reason? We know this state thrives on innovation, it thrives on reinventing itself, and we need to continue to diversify. This will bring more jobs, more diversity to the economy. This is exactly what these room taxes were designed to do many, many years ago, and that’s why I’m so supportive of it.” The CEO acknowledged that “What’s good for Las Vegas is good for MGM Resorts,” explaining that “I’m far more supportive than of a vague idea of a year ago. It’s a much better than a vague idea that had open-ended liability.”
Murren added that he was “utterly confident” that Las Vegas was three years away from getting an NBA franchise. League Commissioner Adam Silver has said “We’ve always been positive about Las Vegas as a market” … for the NBA summer league, that is. Expansion teams are not on the table, although a lot could change in three years. However, given the NCAA’s tendency to frown upon sports betting, let alone daily fantasy sports, Murren’s optimism about getting a Final Four seems unwarranted at this time.
“I have no right to speak for the NFL on or off the record,” said Wynn Resorts CEO Steve Wynn before proceeding to do just that, saying that Jerry Jones and Wynn pal Robert Kraft have told him they can get the 24 votes needed to move the [your city here] Raiders to Sin City. “I personally believe if we lose this opportunity it will be one of the most heartbreaking mistakes we can ever make.” He stated there’s no danger of the Raiders ever leaving Las Vegas. However, anyone familiar with the team’s vagabond history has to find that prediction roseate, if not vaguely humorous.
Both casino bosses flung verbal laurels at Adelson’s feet. Said Murren, “It’s a poor return on investment. He can’t be doing it for the money.” Added Wynn, “I have to say Sheldon is being extremely unselfish by doing this … And I’m his competitor, and I don’t need to throw bouquets at Sheldon. This is an act of public service. This is not a billionaire getting a break.” No, just long-suffering tourists getting soaked. Again.
* Whenever a bigwig from Beijing comes to visit Macao, he puts a damper on the gambling party. Premier Li Keqiang tried to strike an upbeat tone, praising the beauties of the 
enclave and calling it “a place that was successfully implementing the principle of ‘one country, two systems’.” However, Li didn’t stray from the economic-diversification meme that China has been pushing on Macao, previewing the concept of turning the city into a magnet for global commerce, a strategy called “Center and Platform.” The “new measures and policies” Li promised didn’t throw any bones to casino operators, focusing instead on upgrading the Macanese technology and shipping sectors. In other words, Adelson isn’t going to get the 20 additional megaresorts he covets. At least Mr. Sands could take consolation in the fact that Golden Week drew over one million tourists, good news for mass-market operators.
Imagine if politicians in NJ had the foresight to diversify Atlantic City???