Business

Don’t Bet On It: Casino Magnate Says Business Owners ‘Fear’ Obama

Business owners are starting to vent their frustration with the staggering economy. With the national economic outlook not looking very promising, some are openly voicing their opinion and blaming the Obama administration. One of those business owners is Casino tycoon, Steve Wynn.

Wynn first made a name for himself as a casino resort and real-estate developer who helped to reestablish Sin City’s brand in the 1990s. He is also well-known for having built or refurbished some of the area’s most popular casinos including Golden Nugget, The Mirage, Treasure Island, Bellagio, Wynn, and Encore.

In April 2010, Wynn slammed the Obama administration on CNBC and publicly threatened to move his company’s global headquarters from Las Vegas to Macau. When criticized for this, he justified the idea of moving his headquarters because of the substantially higher profits he could make.

Today, he’s back in the headlines for going directly after the president.

Wynn blasted Obama in a recent conference call with investors, saying business people are sitting on their money out of “fear of the president,” USA Today reports.

“I’m telling you that the business community in this company is frightened to death of the weird political philosophy of the president of the United States,” Wynn said. “And until he’s gone, everybody’s going to be sitting on their thumbs.”

Wynn went on to equate Obama’s economic policies with socialism and claimed that the president’s plans will only halt business growth.

“Everybody complains about how much money is on the side in America . . . and until we change the tempo and the conversation from Washington, it’s not going to change. And those of us who have business opportunities and the capital to do it are going to sit in fear of the president,” Wynn said.

He continued to berate the Obama administration: “And a lot of people don’t want to say that. They’ll say, ‘oh God, don’t be attacking Obama.’ Well, this is Obama’s deal, and it‘s Obama that’s responsible for this fear in America.”

David Schwartz, the Director of Center for Gaming Research, agrees with Wynn’s assessment and said that the economy has been “bumping along the bottom”.

“Steve Wynn is a guy who has invested a lot of money in this country, he‘s a guy that’s run a business,” Schwartz said.  “So I think it‘s worth listening to what he’s got to say. Even if you don‘t agree with it and your gut reaction is he’s got to be wrong, you‘ve got listen to what he’s saying.”

Wynn continued: “The guy keeps making speeches about redistribution, and maybe we ought to do something to businesses that don’t invest or holding too much money. We haven’t heard that kind of talk except from pure socialists. Everybody’s afraid of the government, and there’s no need to soft peddling it, it’s the truth. It is the truth. And that’s true of Democratic businessman and Republican businessman, and I am a Democratic businessman and I support Harry Reid. I support Democrats and Republicans. And I’m telling you that the business community in this company is frightened to death of the weird political philosophy of the president of the United States. And until he’s gone, everybody’s going to be sitting on their thumbs.”

Wynn claims that as a direct result of Obamanomics, he was stopped from expanding his business and creating 10,000 new jobs in Las Vegas.

“My customers and the companies that provide the vitality for the hospitality and restaurant industry, in the United States of America, they are frightened of this administration,” Wynn said. “And it makes you slow down and not invest your money.”

Perhaps some of this frustration isn’t so unfair. After all, Wynn is not alone in his irritation with the president for anti-Vegas remarks made earlier this year.

When the White House offered Nevada Gov. Jim Gibbons the chance to greet Obama when he was in town for a fundraiser at Caesar’s Palace, Gibbons declined. According to Politco, Gibbons “was insulted by a comment the president had made about Vegas a few months ago, although he says he’s asked Obama to meet with him ‘to discuss improving tourism and business travel to Nevada.’”

“While I appreciate the offer, I am not interested in a handshake and a hello from President Obama, I am interested in an apology and plan to undo the damage the President did,” Gibbons said in a statement posted on his Web site.

The damage refers to when the president disparaged Las Vegas, and said, “You can’t get corporate jets. You can’t go take a trip to Las Vegas or go down to the Super Bowl on the taxpayer’s dime.”

It could also refer to the time when Obama said, “When times are tough, you tighten your belts. You don’t go buying a boat when you can barely pay your mortgage. You don‘t blow a bunch of cash on Vegas when you’re trying to save for college.”

Obama may or may not sincerely want to see economic growth in places Las Vegas but I wouldn’t bet on it.

Comments (12)

  • MUDFLAPS
    Posted on July 22, 2011 at 2:45pm

    Its kind of like having pravda run our country.

    Report Post »  
  • JUSTANOTHEROPINION
    Posted on July 21, 2011 at 10:43pm

    Calling the Presidents policies weird Is just an attempt at being polite when speaking of them. I could think of a more accurate description of them but there is no way I could post it here!

    Report Post »  
  • TruthisHealthy
    Posted on July 21, 2011 at 8:53pm

    We don’t trust any of them. They should be cuffed and tried for treasonous crimes against Americe.

    Report Post »  
  • TruthisHealthy
    Posted on July 21, 2011 at 8:51pm

    barry the treasonous anti-American fraud hates America. He’s worse than hitler. How dare the bastards and bitches who ARE ENEMIES WITHIN dictate what we’re going to do? They are deliberately destroying Our Constitution on a daily basis. Sadly, the ignorant so called journalists are also enemies within.

    the bitches and bastards should be removed from there offices and tried for treason.

    Thank our God..not his..he’ll be VOTED OUT WITH THE REAST OF THE WHITE COLLARED CRIMINALS IN 2012. EFTHMAL.

    Report Post »  
  • NotFooled
    Posted on July 21, 2011 at 8:47pm

    Casino owners do not fear Obama at all. Don’t buy it. It was these Casinos that helped Harry Reid steal the election in Nevada last year.

    Report Post » NotFooled  
  • thewoodsfamily
    Posted on July 21, 2011 at 4:39pm

    Wynn is absolutely correct, my wife and I have saved enough money to open a small business. However we are holding off until Obama is gone. It seems that his business policies contradict each other and while he claims to be on the side of small business his actions prove otherwise. We are just the smallest fish in a large pond of other business that are holding back until the fear of economic collapse no longer exists and a president who is pro American business is in office.
    It’s strange to respect the office of the President of The United States but not the President.

    Report Post »  
  • tom
    Posted on July 21, 2011 at 12:20pm

    Obama is not just “weird” he’s “ignorant” on how to be a leader. He has been as destructive to our military, labor market, economy, basic morals, family values, our children’s schools, as a Marxist can be. His gang is pocketing millions for themselves in Washington, right before our eyes. Just look in Rahm and Barney’s pockets for example. Vote him out in 2012, and watch morals, jobs, the economy, and family values come back to our nation. By the way, kiss NASA goodbye, Obama wants them to reach out to Muslims and gays, instead of our shuttle program. Again “weird” and “ignorant.”

    Report Post » tom  
  • SamIamTwo
    Posted on July 21, 2011 at 9:22am

    Nevada Gov. Jim Gibbons expects an apology…LOL

    And a plan…good luck with getting a plan with Obama. His own agencies have no ideal what his plan is…that is why you don’t see numbers being cranked out of OMB…they can’t crank numbers about an Ideal…

    It is seriously out of control.

    Report Post » SamIamTwo  
  • Phlyon
    Posted on July 21, 2011 at 1:34am

    Investors and business people are big wimps, I am one. But, here is the deal. If every Tom, Dick, and Harry in America let the people that bully them convince them they should not do something or only do it a certain way, well then freedom is dead here and I hope the greater economy never recovers. Truth is, when douche bags like the government or some Joe from down the road tell me what to do & how, I do what I was going to do before they started their games in the first place. I do what I want, when I want, because I do things to enjoy in the here & now and God willing into the future. Won’t you join in all the fun? Live free. Stop thinking like a bunch of government slaves. We do not exist on this earth to keep and entertain others, and especially not government. We are not government property, or even wards of the state, no matter how many laws there may be in some places to the contrary. Freedom is not an idea at its core, it starts as a way of being and becomes the idea. In such a way, no business or investor will ever be a top notch success until it gains the self reliance that is freedom through actions. In the end, defeating your adversary at what ever game is being played is the only way to truly succeed in business, life, & love. I hope that this article is not an example of how many may be loosing sight of all that.

    Report Post »  
    • cemerius
      Posted on July 21, 2011 at 7:43am

      Sounds great but as you may know Microsoft was just as carefree as you are preaching. Then without any lobbyist in Washington DC they starrted getting hit with anti-trust lawsuits in the millions of dollars. Now, they have overcome this by spending millions of dollars on lobbyists! This is the way to fight government and regulations? Why, I may ask do we have to do “battle”? Freedom should be like a guiding light to inspiration like a Father helps the son not, like an abusive alchohlic Father but a nuturing guiding hand……Right now the government is that abusive alcoholic father that no one has called the CPS on!!!

      Report Post » cemerius  
    • Zoe
      Posted on July 21, 2011 at 7:38pm

      Conflict of interest occurs when an individual or organization is involved in multiple interests, one of which could possibly corrupt the motivation for an act in the other.” Once considered the gold standard of professional conduct, during the past 30 years or so it has been purposely diminished to the point of non-existence as a barometer of business or government ethics. The advantages to The Corporation for promoting this ethical vacuum are obvious.

      But for the public it’s a disaster in the making: the ethically untenable situation of having executives from Big Pharma or Big Telecom sitting on the government committees that regulate the very products they’re selling. The motive is simple: to remove any and all obstacles to profit. This is antithetical to the role of government as gatekeeper and protector of public health.”

      Report Post » Zoe  
  • Florida_Freedom_Fighter
    Posted on July 21, 2011 at 1:29am

    The audio of this is Awesome, and True

    Report Post » Florida_Freedom_Fighter  

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