Wow! A proposed billion dollar casino for Miami

From the 11/29/11  WSJ:

A Malaysian gambling company wants to build what could be the world's largest casino on prime land along Miami's waterfront. It has spent about $450 million on real estate, pledged to help rebuild part of an interstate highway and hired 23 lobbyists to press for a new Florida law. The focus of Genting Bhd.'s costly campaign is a proposed $3.8 billion casino resort with six towers, 50 restaurants and a shopping mall overlooking Biscayne Bay.

Steve Wynn: Pro Growth billionaire

"I am watching my employees standard of living drop off because of deficits. I think that the American public is beginning to make the connection between deficits and their own loss of the standard... I say right now that the Democratic agenda of spend and bribe the public has bankrupt this country, and until it stops, the citizens of this country are in for more hard times. And fancy speeches aren't going to change that. Only a fundamental realization that citizens are going to have to take real, sophisticated responsibility for how we allocate the resources of this country."

Carl Icahn closes on the Fontainebleau Las Vegas resort

Billionaire investor and financier Carl Icahn has acquired the unfinished hotel and casino Fontainebleau in Las Vegas, Nevada.

Icahn picked up the casino property after a Florida court approved the offer last month following the Fontainebleau Las Vegas LLC bankruptcy filing and inability to complete the resort.

Icahn Enterprises closed on the hotel and casino on Thursday this past week for about $150 million. The deal is structured: $105 million in cash, plus $45 million in debt.

Casino billionaires crap out in Las Vegas

The casino empires are still in place for Nevada gaming moguls Sheldon Adelson and Kirk Kerkorian.

However, that doesn't mean both billionaires are going to have a Merry Christmas.

Forbes magazine has placed both Adelson and Kerkorian at number one and number four, respectively, on their list of America's Biggest Billionaire Losers Of 2008.

Liquidity problems at the casino that Donald Trump built

Trump Entertainment to miss interest payment

CHICAGO (MarketWatch) -- Facing tough competition and sliding revenue amid the economic meltdown, Trump Entertainment Resorts will have to skip a $53.1 million interest payment scheduled for Monday on its 8.5% senior secured notes due 2015 in order to maintain sufficient liquidity.


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