World’s most expensive hotel-casino opens in Las Vegas

Friday, April 29, 2005

The world’s most expensive hotel-casino ever has opened in Las Vegas, Nevada. The casino, which was designed and built over a period of five years, cost US$2.7 billion to construct. The hotel stands nearly fifty stories above the Las Vegas valley, with a 180-foot tall mountain in front of the main entrance.

Numerous lavish touches contributed to the high expense of the development. The sign in front of the Wynn property has an unusual mechanical design, with a large piece containing the Wynn logo, which can move vertically up or down as different announcements are presented.

“I think it’s going to start a shift of power. It’s been the south for a long time. Things will start moving to the north because of Wynn Las Vegas, Sheldon Adelson with the expansion of the Venetian, the New Frontier — that whole area will become the new hot area of Las Vegas for the next decade or so,” gaming expert Anthony Curtis told Las Vegas KLAS TV.

As the property opened to the public, developer Steve Wynn greeted visitors at the front entrance.

“It’s always fascinating to watch people enter the thing and get their first moment after we open the doors,” Wynn told the Las Vegas Review-Journal.

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Analysts are not too concerned about the cost of the Wynn development. Wynn paid off the cost of The Mirage hotel-casino in 18 months, much earlier than the planned seven years for which the debt had been scheduled for repayment.

“If you remember the opening of The Mirage in 1989, Wynn needed to make a nut of $1 million a day. Everyone thought he was nuts; ‘couldn’t be done,’ they all said,” Las Vegas history department Chairman Hal Rothman told the Las Vegas Review-Journal.

Wynn sold his interest in Mirage Resorts to MGM Grand (which became MGM Mirage and is now run by Kirk Kerkorian) for US$6.4 billion back in 2000, then turned around and purchased the property for the Wynn hotel-casino for US$275 million. The property was previously the home of the Desert Inn.

The hotel has 2,359 rooms, and a few hundred deluxe suites and “parlors” for high rollers. The casino has 1,960 slot machines and 137 table games on a 111,000 square foot casino floor. A Ferrari–Maserati dealership and the Le Reve stage show, featuring a million gallon water tank, round out the expensive offerings.

A round of golf will go for US$500 on the elaborate golf course located behind the main building.

All of these specifications add up to a record construction cost of over one million US dollars per room. Other expensive Las Vegas properties cost a fraction of the price, such as the Bellagio, which cost half the price at US$533,000 per room. The most expensive hotel property in the world was previously the Grand Wailea Resort in Maui, Hawaii, which cost US$775,000 per room.

“Yes, (Wynn) may be in over his head, but then he has found ways to survive before,” Las Vegas professor Bill Thompson told the Las Vegas Review-Journal.

Several of Wynn’s largest competitors spoke with admiration of the property and looked forward to its impact on Las Vegas.

“I’ve never understood the hand-wringing about something new, especially in Las Vegas and Atlantic City,” Harrah’s Chairman and CEO Gary Loveman told the Las Vegas Review-Journal.

Other casino bosses from the Mandalay and the MGM Mirage had positive comments as well, hoping to pick up some new business from the development.

“It’s a positive in terms of bringing more visitors,” Mandalay Resort Group President and CEO Glenn Schaeffer told the Las Vegas Review-Journal.

“Steve will build a great property and bring new people to town. If we’re doing what we’re supposed to be doing, then we’ll pick up some of that business also,” MGM Mirage Chairman and CEO Terry Lanni told the Las Vegas Review-Journal.

Thousands of visitors gathered for hours in front of the property before it opened. Security guards had to monitor the number of visitors entering the building.

“I think it’s spectacular,” David Schwartz, coordinator of the Gaming Studies Research Center at the University of Nevada Las Vegas told Reuters.

“People were pushing and shoving,” Las Vegan Kathie Anderson told Associated Press.

“There is nobody in the world who creates such entertaining and beautiful casinos,” British billionaire Richard Branson told Associated Press from the casino floor. “I would say every other casino must be nervous. He’s lifted the bar dramatically,” Branson said.

“This would be hard to top,” Las Vegan Marlene DeMarco told Reuters.

Monday, August 27, 2012

London, England — As Paralympians ready for the Games which are set to open later this week, they have access to a world class fitness center inside the Paralympic Village which is designed to maximise their pre-Game preparations.

According to volunteers staffing the center, instead of being a single large room, as in Beijing, the building has numerous rooms. It, along with the adjacent Village Services Centre, is designed to be converted into a school after the games conclude. Rooms have been structured as a gym, an auditorium, and science laboratories.

Gym equipment is supplied by Technogym, an Italian firm that has supplied gym equipment for the Olympics since 2000. Equipment has been provided not just for for the Fitness Centre, but for gyms at all the Olympic venues. The newest equipment is oriented toward maximum flexibility, allowing athletes to exercise the particular muscles that they most require for their sport.

In addition to the equipment, the Fitness Centre also provides instructors trained in the use of the equipment, the likes of which athletes from many countries have never seen before. There are also a number of instructors available to provide motivational training.

Friday, June 24, 2005

In a major decision, the Supreme Court of the United States has expanded the right of government to seize private property for public good by allowing the city of New London, Connecticut to invoke eminent domain and seize homeowners’ property for economic development reasons.

In a closely-divided decision, 5–4, the court determined that the city’s economic development plan constituted a “public use”, and therefore qualified under the U.S. Constitution’s fifth amendment’s Eminent Domain clause.

Justice John Paul Stevens wrote the majority decision, and was joined by Justices David H. Souter, Ruth Bader Ginsburg, Stephen G. Breyer and Anthony Kennedy. “Promoting economic development is a traditional and long accepted function of government,” Stevens wrote, and justified the decision further by saying municipal authorities are better positioned to make decisions regarding a community’s best interests than judges.

Writing the dissenting opinion, Justice Sandra Day O’Connor rejected the economic justification as a public use, pointing out that wealthy individuals are more capable of defending themselves and so are less at risk. But the greatest issue was the likelihood of abuse of eminent domain:

“The specter of condemnation hangs over all property. Nothing is to prevent the state from replacing any Motel 6 with a Ritz-Carlton, any home with a shopping mall or any farm with a factory.” A separate dissent was also included written by Justice Clarence Thomas.

Thursday, February 8, 2007

This Sunday, the International Animated Film Association (Association International du Film d’Animation) or ASIFA will hand out the Annie Awards in Glendale, California. As animation’s highest honor, the crowd is always a who’s who of direction, art design, character design, layout, visual effects, and voice artists.

There are 23 award categories in the Annies, sorted into Individual Achievement and Production categories.

Perhaps the most competitive category is “Best Animated Feature”, which will be a fight between Cars (Pixar Animation Studios), Happy Feet (Warner Bros. Pictures/Village Roadshow Pictures/Kennedy Miller Production/Animal Logic Film), Monster House (Columbia Pictures/ImageMovers/Amblin), Open Season (Sony Pictures Animation/Columbia Pictures) and Over The Hedge (DreamWorks Animation).

Cars, Happy Feet, and Monster House are all nominated in the Academy Awards for the same category, perhaps signifying an edge up in the competition.

Direct-to-DVD releases are eligible for the “Best Home Entertainment Production”. Included are Bambi II (DisneyToon Studios), The Adventures of Brer Rabbit (Universal Animation Studios), and Winnie the Pooh: Shapes & Sizes (DisneyToon Studios).

Charlie and Lola, Foster’s Home for Imaginary Friends, King of the Hill, The Fairly OddParents, and Wow! Wow! Wubbzy! are all up for “Best Animated Television Production”.

“Best Animated Video Game” will be awarded to either Flushed Away The Game (D3 Publisher of America, Inc.), Monster House (THQ, Inc.), and SpongeBob SquarePants: Creature From the Krusty Krab (THQ, Inc.); the category was just created last year.

Adventure Time (Nickelodeon), Fumi and the Bad Luck Foot (Thunderbean Animation), No Time For Nuts (Blue Sky Studios), and Weird Al Yankovic Don’t Download This Song (Acme Filmworks) are all up for “Best Animated Short Subject”. Only No Time for Nuts is up for an Oscar, which has significantly different rules. “Best Animated Television Commercial” will go to either an advertisement for Candy Factory, ESPN, Hilton, St. Louis Zoo, and United Airlines.

Notably, no non-US films or productions have been nominated for any of the awards.

ASIFA is a non-profit worldwide organization dedicated to preserving and promoting animation, which maintains national branches in 55 countries, as far away as UlanBaatar, Mongolia and Tehran. The Annies are awarded by its California chapter ASIFA-Hollywood.

The awards were started in 1972, after voice actress June Foray noticed the industry lacked a formal way to acknowledge its achievements. Performing in over 202 productions, Foray’s most known characters are Rocket J. Squirrel (Rocky and Bullwinkle) and Granny (Looney Tunes).

ASIFA also hands out “Juried Awards” to various notable figures in animation. Bill Plympton, Genndy Tartakovsky, and Andreas Deja will each win the Winsor McCay Award, in recognition of lifetime or career contributions to the art of animation. Bill Matthews, Michael Fallik, Marc Deckter, and Eric Graf will each win a Certificate of Merit. The June Foray Award will go to Stephen Worth, for his “significant and benevolent or charitable impact on the art and industry of animation.” The Ub Iwerks Award and Special Achievement award will not be handed out.

Professional photographer John Mueller will attend the ceremony on behalf of Wikinews, taking photos of nominees and the rest of America’s animation elite. Mueller was selected from a wide pool of professionals offering their services. The photos from the event will be released under the Creative Commons By Attribution license, which allows them to be used by anyone for any purpose.

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Thursday, June 4, 2009

In a New York press conference at 16:15 UTC, June 1st, Fritz Henderson, the Chief Executive Officer of General Motors, which filed for bankruptcy and Chapter 11 protection from its creditors earlier today, outlined a plan for what he called a “New GM”.

Speaking to the press under safe harbor provisions of U.S. law, Henderson described the events of today as a “defining moment” in the history of General Motors. Speaking to the public he said that “The GM that let you down is history,” and described a “New GM” that he expected to result from the bankruptcy process.

Henderson stated that he envisioned the bankruptcy process would take between 60 and 90 days. He stressed several times his view that the process would be one that is executed quickly, saying that not just a sense of urgency but “pure unadulterated speed” was his expectation of the process. He emphasized that “GM remains open for business” during the bankruptcy period, continuing to sell and to support its products, and that day one motions had been filed in the bankruptcy court in order to allow this.

Regarding the bankruptcy process he said, “We will do it right. And we will do it once.”

He stated that the plan for General Motors had the support of the United Auto Workers union, the Canadian Auto Workers union, the GM VEBA, and a majority of the unsecured bondholders of GM. He also mentioned that GM had already received €1.5 million in bridge financing from the German government.

In response to questions about the possibility of the United States federal government, a majority shareholder in the restructured company, dictating future product development and strategy, such as the sale of more fuel-efficient and green vehicles; he first observed that the federal government had already stated to him that it had “no real interest in running our business” and that he expected that still to be his job. Of the specific hypothetical scenario where the management of GM wants to make one type of car, because it thinks that it is the right thing for the business, and the U.S. government wants to make another type of car, he stated that “I don’t think it’s going to happen.” Expanding on that point he stated that he expected the “New GM” to focus upon “highly fuel-efficient and green technology”, and that operating both in accordance with U.S. environmental laws and in response to customer demand would naturally result in the New GM producing the types of vehicles that the U.S. government would encourage.

The “New GM” he also expected to focus on “four core brands”, and will size its dealership to match that. He stated that GM would offer a “deferred termination” package to dealers, to allow them to cease dealing in GM vehicles in a managed and gradual way.

He stated that the bankruptcy filings did not cover General Motors’ businesses in Latin America, Europe and the Middle East, and Asia and the Pacific. Of GM’s profitable ventures in China, specifically, he stated that they were “a critical part of the New GM”. In response to questions of whether the New GM would import cars from China to the U.S., he stated the formative company’s core principle that “We build where we sell” applied in both directions, with GM building in China to sell in China and building in the U.S. to sell in the U.S., stating that this shortened supply chains.

He declined to predict when the New GM would return to profitability, stating that the goal was rather to lower the break-even EBIT point for the company. He also declined to speculate upon when the U.S. government would sell its stake in the company, saying that that was a question “better addressed to the U.S. Treasury”, and merely saying that he expected it to be “years, not months” when the U.S. Treasury felt it would give “the right return for taxpayers.”

Thursday, December 6, 2018

On Tuesday, the United Kingdom Parliament started five days of debates ahead of a vote over Prime Minister Theresa May’s deal to leave the European Union.

The deal being debated is a withdrawal agreement for the United Kingdom (UK)’s exit from the European Union (EU), and a political framework defining ambitions for the future of the UK–EU relationship.

In a statement to the House of Commons shortly before debates began, Theresa May said “I have spent nearly two years negotiating this deal […] I have lost valued colleagues along the way, I have faced fierce criticism from all sides. If I had banged the table, walked out of the room, and at the end of the process delivered the very same deal that is before us today, some might say that I’d done a better job.”

Following the debates, a vote in the House of Commons is to determine if the deal will be implemented. The vote is scheduled for next Tuesday, December 11.

Sunday, March 27, 2011

According to judicial spokesman Edwin Escobar, Alvaro Colom, president of Guatemala, and Sandra Torres, the first lady, have applied for a divorce. It is said that the couple, who have been married for eight years, have done so so that Torres can apply for presidency.

The couple applied for divorce on March 11, Escobar said. He says the couple have given mutual consent and did not reveal the names of their lawyers.

Presidential spokesman Giusseppe Calvinisti has denied having any information about the planned divorce.

Before Escobar made the announcement, opposition leader Roxanna Baldetti had warned that the couple were planning to split to let Torres run for the presidency. Many political observers believe the couple filed their request so that Torres can stand to succeed her husband when his term ends in September, as the Guatemalan constitution does not allow close relatives of the president to do so.

Comments on the divorce have ranged from ‘unthinkable’ to ‘a fraud’, the latter description by Patriotic Party candidate Otto Perez. According to Perez, the divorce will not let the Torres run for presidency. “The law does not state a time frame of when a person ceases to be a relative of the President.”

The Constitutional Court in Guatemala, the highest legal authority that determines the legitimacy of a presidential candidate, is to be taken over by new members in April. Legal experts doubt the impartiality of the new judges. They noticed ‘ominous signs of political pressures’ that would cause them to defend partisan interests rather than uphold justice.