4 Reason Why Vegas is Crumbing Today

LAS VEGAS, NV: LV Sands announced a whopping $1 billion loss for second quarter 2020.  Conventions aren't expected to return to Las Vegas in 2020 so Wynn, MGM, & Caesars should see similar results. Nearly 1/2 the casinos in Vegas remain closed.  The few casinos that are operating report record low occupancy rates of less than 25%. Twitter Blogger Las Vegas Locally wrote that Wynn sees occupancy in the teens.

What happened? Simple robbery.

The Great Palms Casino Caper of 2019

1. Lorenzo Fertita convinces the SEC to take Red Rock Resorts (Stations Casinos) public again & raise nearly $1 billion dollars to buy & remodel the Palms Resort and Casino
2. Lorenzo hires Jon Gray from Nike in Portland, Oregon to manage the remodel
3. Jon Gray worked for Nike as a Global Brand manager.  Needless to say, Jon Gray was over his head. He & Alex Gray (his cohort from Wynn Nightlife) embezzled millions of dollars from the infamous Club KAOS. KAOS was reportedly only opened for 5 days before shutting down for good.

That's a billion dollars stolen from Las Vegas.

MGM, Jim Murren, Steve Sisolak & Stephen Paddock

Jedi will probably never be able to prove the connection, however, Steve Sisolak provided Jim Murren material inside information regarding the State's plan to shut down Nevada on March 17th 2020.

1. January 22nd, Steve Sisloak breaks NFL Rules and announces the Las Vegas Raiders ahead of the March 18th Fiscal Calendar
2. March 17th, Steve Sisolak announces all business to close, including casinos but not the construction of the Raiders Stadium
3. February Jim Murren abruptly resigns as CEO of MGM and sells all of his MGM stock at a record high of 33 1/2 per share.
4. March 23 2020 Steve Sisolak appoints a special position for Jim Murren to oversee the rebuilding of the Las Vegas Strip
5. Jim Murren buys back MGM shares at record low price of $7-$9 per share.

There's another billion dollars that was stolen out of Las Vegas.

The Venetian Bought Las Vegas' Only Newspaper

What do casino operations & honest journalism have in common? Nothing, Except Sheldon Adelson.

You don't hear Stephen Paddock's name very often from Las Vegas blogger or local media because there is a general rule in Vegas: do not report any bad news that could affect tourism.  To make sure of that, Sheldon Adelson & the Adelson family purchased the Las Vegas Review-Journal in 2015,.  This is straight out of Citizen Kane.  Sheldon has Trump in his back pocket.  Sheldon is Trump's largest donor.

Its convoluted and complicated.  A full formal investigation would take years.  The bottom line: Vegas has been sending fake news to Wall Street since Sheldon & his family secretly bought the paper.  The local media and bloggers simply repeat what the Review Journal writes.  

How many billions were stolen from Vegas by creating a fake "Best of Vegas" news article? 

The Final Straw: Nearly $1 Billion Tax Burden to Hotel Casinos for the Raiders Stadium

You can voice your opinions on a publicly funded civic stadium to be paid for by tourists but from a cosmic, karma point of view-- Sisolak, Murren, Adelson, and the others done gone too far ripping off consumers.  The stadium was rejected by voters. A new deal was promoted through the Las Vegas Review journal convnced local voters to tax tourists to pay for nearly 1/2 of a civic stadium.  Does that seem right? Making visitors form Green Bay pay for the Raider Nation Stadium? If it were the other way around, anyone in the Raider Nation would have a shit cow.

There you go: 4 examples off the top of my head from just reading twitter shows nearly $4 billion of tourists profit gone.  As the CEO of a small convince store, I can tell you that losing one candy bar means you'll have to sell at least 5 before you break even.  

How many candy bars will Vegas need to sell before it breaks even?