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Steve Wynn will not be pestering the life out of people in the back of New Jersey taxi cabs, after Wynn Interactive, a subsidiary of Wynn Resorts, withdrew their application for an online gambling license in the state.
Wynn Interactive Pull Interest in the New Jersey Online Gambling Market a way it’s a news story about nothing.
Wynn hasn’t owned Atlantic City brick and mortar since the launch of Tetris. In 1980, Wynn built The Golden Nugget – on the grave of The Strand Motel
and turned it into the most profitable casino on the boardwalk. He later sold it to Bally’s in 1987 for $440m. It would eventually find the name Atlantic Club Casino and was shut down in January of last year.
Without a land-based casino in Atlantic City, Wynn had no choice but to find a suitable tag team partner.
That turned out to be Caesars Entertainment Corporation, but then the honeymoon turned sour before anyone had even gotten to first base.
Wynn, who very nearly got into bed with a post Black Friday PokerStars, had a change of heart. In his opinion, online gambling didn’t represent a great entrepreneurial opportunity.
He started to take sides with anti-online gambling mouthpiece Sheldon Adelson, as the tried and tested pair muscled together in a bid to prevent their
Las Vegas brick and mortar enterprises having their bottom line dented by online wizardry.
How could a suntanned and sunkissed Wynn continue to hold hands with an outfit, in Caesars, who is very pro online gambling?
Wynn might not be as vocal as Adelson when it comes to the anti-online gambling battle, but his motives are very clear: protect castle Wynn at all costs.
SOURCE
Wynn Interactive Pull Interest in the New Jersey Online Gambling Market a way it’s a news story about nothing.
Wynn hasn’t owned Atlantic City brick and mortar since the launch of Tetris. In 1980, Wynn built The Golden Nugget – on the grave of The Strand Motel
and turned it into the most profitable casino on the boardwalk. He later sold it to Bally’s in 1987 for $440m. It would eventually find the name Atlantic Club Casino and was shut down in January of last year.
Without a land-based casino in Atlantic City, Wynn had no choice but to find a suitable tag team partner.
That turned out to be Caesars Entertainment Corporation, but then the honeymoon turned sour before anyone had even gotten to first base.
Wynn, who very nearly got into bed with a post Black Friday PokerStars, had a change of heart. In his opinion, online gambling didn’t represent a great entrepreneurial opportunity.
He started to take sides with anti-online gambling mouthpiece Sheldon Adelson, as the tried and tested pair muscled together in a bid to prevent their
Las Vegas brick and mortar enterprises having their bottom line dented by online wizardry.
How could a suntanned and sunkissed Wynn continue to hold hands with an outfit, in Caesars, who is very pro online gambling?
Wynn might not be as vocal as Adelson when it comes to the anti-online gambling battle, but his motives are very clear: protect castle Wynn at all costs.
SOURCE
