When I first came out to Las Vegas, I knew I was going to see slot machines in the airport, but when I actually did, I was gobsmacked: it was the most brilliant economic ploy I’d ever seen, and it all hit me in a flash. It was unbelievably successful, and required almost no effort on the part of the slot machine owner. Here is all of Las Vegas’ economy:
“Hey pal, how’d you like to double your money?”
“Sure; that would be great!”
“Okay, well put $20 in my hand, and maybe I’ll hand you $40 back.”
“Okay!” <puts $20 in other guy’s hand>
“Oooh! Nope, sorry, not this time! How about trying again?”
“Dang! I almost had it didn’t I? Okay, lemme try again!” <hands over another $20>
Repeat until there are no more $20s in guy’s wallet.
So yeah, Steve Wynn might have fucked up so big that the state will no longer allow people to hand over huge stacks of cash to him for little or nothing in return.
The Republicans are going to need every penny this year. Worst case, the RNC can hold on to the money long enough to use it for the midterms and then pay it back later. Sort of like banks making interest off of money during the delay while processing transactions.
My bet is that the money won’t ever be given back, though. They’ll find some excuse, or hope that the furor will die down and no one will follow the money.
Do you know what the number one way to solve a problem is? Wait it out and hope it goes away. It is successful more times than you might believe on first glance, and so remains the #1 way that humans solve problems.
So yeah, this is my guess as to what will happen as well.
Wynn Resorts is in the middle of building a new casino and hotel complex in Everett, Massachusetts, a suburb adjacent to Boston, and when the news of the accusations broke the state’s political leadership (a number of whom weren’t too keen on that casino anyway) started making noise about whether the state gaming commission should pull its license, leaving a half-built mega-complex and thousands of jobs in limbo, to say nothing of the multimillion-dollar investment already sunk into the project.
So, yeh, never mind what else the Wynn company was dealing with, that alone would be a powerful incentive for him to exit.
You have more information on them than anyone here, including the article I linked. Why don’t you find a cite and show us what experience they have with corporate/shareholder law?
Their areas of practice, according to their own website, are Auto accidents, Aviation accidents, Consumer litigation, Construction accidents, Dangerous Property and Products, Explosions and Fires, Medical Malpractice, Sexual Harassment/Workplace Discrimination, and Transportation accidents.
Website of Clifford Law Offices. Looking over the listed practice areas, I don’t see any thing to indicate they have expertise in shareholder litigation, and they’re a plaintiff firm, not defense counsel, in the types of litigation they pursue. Here’s the firm’s profile for Shannon McNulty, quoted in the article.
But it wasn’t clear from the article whom, if anyone in this litigation, the Clifford firm represents, or whether Ms. McNulty was merely offering explainer info to the reporter.