CASINO

Wynn gets new shag pad; Foxwoods revenues down; Penn. stock rises; Paulson confirms Caesars stake

TAGs: Caesars Entertainment, connecticut, Foxwoods Resort Casino, paulson, Pennsylvania, Steve Wynn

wynn new york penthouse

Some view!

Steve Wynn’s name has hit the entertainment pages after he laid out $70 million on a new Manhattan shag pad. The casino business mogul bought the two-floor penthouse apartment that sits atop the Ritz-Carlton Hotel in New York’s Central Park South neighborhood. It has four bedrooms, five full bathrooms, a huge living room, dining room, media room and even a library. The views are breathtaking and for a man that has an estimated net worth of over $2 billion the price won’t cause him to lose much sleep.

Connecticut’s Foxwoods Resort Casino saw a drop off in both slot revenue and handle for the month of April. Slot revenue decreased 13.4 percent to $49.5 million compared with the previous year with handle down 14.2 percent to $600 million. CEO Scott C. Butera explained that April last year had an additional Friday and Saturday, before adding: “Similar to other retail and consumer based companies, the softness in April revenues comes on the heels of a fairly robust first quarter, so we remain cautiously optimistic about upcoming periods.”

Pennsylvania’s Gaming Control Board has posted a rise in gross revenue from table games in the state. The figure rose 6.83 percent to just under $56.5 million from the some 1,031 tables in operation on a daily vasis. It meant that tax revenue from the tables was just over $8 million.

Hedge fund manager John Paulson’s firm confirmed they still have a significant stake in Caesars Entertainment. A filing to the Dow Jones stated they have a 12.37 million share stake in the international casino business and entertainment firm along with a number of other companies.

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