Wall Street Folly

Steve Wynn "60 Minutes" interview ($WYNN)

Charlie Rose interviewed casino king Steve Wynn.  Among the topics, which of course included the difficulties that the casino industry currently faces, was his now famous elbowing of one of his paintings, La Reve, which he had sold to SAC Capital's Steve Cohen:

A flying casino?: A possible alternate use of the huge Airbus A380

Prince Alwaleed Bin Talal is pimping out his new £160m A380 with £90m of renovations that will turn his new toy into a futuristic flying palace.    And another A380 may also get an extreme makeover by becoming a flying casino....

Airbus has been approached by potential Asian buyers who are looking to turn its A380 “superjumbo” aircraft into a flying casino, says the European aircraft-maker.

François Chazelle, who heads the Airbus executive and private aviation division, said: “Discussions are under way, and not just with casino operators.” Should the talks lead to an order soon, a fully-fitted casino A380 could be delivered between 2012 and 2017, he said.

 

Video: Sands Casino implodes and goes *POOF* in Atlantic City to make room for a new gaming project

Will the online gambling ban in the US be repealed?

Yes, if Barney Frank has his way.

Barney Frank, the Democratic chairman of the powerful House financial services committee, is working on legislation to repeal the sweeping ban that was passed in Congress last year against online gaming, he told the Financial Times in an interview.

Mr Frank called the ban, formally known as the Unlawful Enforcement Gambling Act, one of the “stupidest laws” ever passed and said he wanted to “repeal” the law.

“I am working on legislation to cut back on this internet gambling thing….I think it’s preposterous,” he said, adding that he was considering some “innovative ideas”.

“I’m looking for ways, maybe we can make some money off of it,” he said, signalling that he could be considering a proposal that would make online gaming legal by both regulating - and taxing - the industry.

Repeal of online gaming ban sought - Financial Times

Atlantic City: Corzine backs funding exception so that casinos don't close again

Governor Jon Corzine said that he'd be in favor of a bill that would allow casinos in Atlantic City to remain open in the event that another budget crisis shuts down the government....

Corzine backs A.C. shutdown exception - The Press of Atlantic City