A little bird told me we were sold to Wynn resorts. Discuss
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A little bird told me we were sold to Wynn resorts. Discuss
That can't be anything but a big plus IMO. I wonder if MGM Resorts International is still trying to dump its stake in the MGM Grand Detroit?
Can Gilbert own 2 Detroit Casinos?Quote:
Originally Posted by 313WX
who is going to be the first to ask if this is where the Ilitch money for the arena is coming from?
Seriously, as the Ilitches get older and older do they really want to own a hotel - casino? Or do their children want to own it?
Isn't pizza and sports enough for a guy in his 80s?
Note: I realize that ownership is in his wife's name. But is Ilitch gets older so does his wife and she needs to think about all of the businesses and properties within the family.
I wonder if this has anything to do with the NHL frowning upon team owners also owning casinos as well as arenas being built in too close proximity to casinos. I know they got around the first issue by making Marianne the owner of the Casino on paper and getting the NHL to compromise. I wonder if the proximity issue now puts them over the top and they had to divest their stake.
There's been nothing about such a change here in the Las Vegas papers. And they cover every fart Wynn makes.
Nope, Michigan gaming laws prohibit one company from owning more than one Detroit casino property.Quote:
Originally Posted by gameguy56
Why hasn't MLB investigated Illitch? I don't care if the casino is in his wife's name or not, you are married to the person so therefore the profits made from owning the casino benefit him as well. He should have been stripped of his ownership of the Tigers when this happened.
So I went to wikipedia and looked up Marian Ilitch and this is what it says:
Marian Ilitch Born January 7, 1933 [[age 80)
Dearborn, MichiganResidence Detroit, Michigan Citizenship United States Occupation entrepreneur, owner of Detroit Tigers & Detroit Red Wings, founder of Little Caesars Pizza Spouse[[s) Mike Ilitch Children seven
That is Wikipedia; half the stuff in their is someone's opinion, not fact.Quote:
Originally Posted by Brian1979
Marian is not an owner of the Tigers, according to the MLB, so she can own the casino. She IS an owner of the Wings, but the NHL isn't as stringent with their rules about owners being involved in gambling.
Old article, but relevant: http://www.nytimes.com/1998/01/18/sp...ted=all&src=pm
At least I know [[I think) Mariam's age.Quote:
Originally Posted by jcole
Mike not doing so hot, healthwise.
Are his kids as invested in Detroit as he is?Quote:
Originally Posted by Hamtragedy
State approval is needed for the transfer of ownership, is it not?
as far as MGM? I know in 2010 it had the second highest revenues of all the MGM/Mirage casinos. And the CEO gave an interview on the subject this march that shows absolutely no idea that they are interested in leaving
http://www.mlive.com/business/detroi...ional_ceo.html
I believe his son Christopher is the President/CEO of Illitch Holdings, after Mike goes it really isn't clear what will happen.Quote:
Originally Posted by gameguy56
From 2009...Quote:
Originally Posted by rb336
http://online.wsj.com/article/SB123883052441189601.html
This is the only article I find about a new acquisition for Wynn:
http://www.reviewjournal.com/busines...-massachusetts
that's damn current!Quote:
Originally Posted by 313WX
Who's the little bird?Quote:
Originally Posted by gopher
Is this the same little bird that said Target and Walmart is opening up in downtown a couple years ago? How about Matty Moroun finding a buyer for the Ambassador bridge for a billion dollars? Give me a break. You mention one of the worst carpet bagging land speculators in the city [[up there with Moroun) that seriously inflates the market value of any property so that no one would want to touch it with a thousand foot pole. If it had any merit, the Free Press and Crain's would be all over it, yet I can't find a link anywhere. Back it up with proof or knock off the bs.
In case you didn't know it... this has been investigated to death by both the Michigan Gaming Board and Major League Baseball.... So if they didn't have any problem with it, your concerns that Ilitch should be stripped of MLB ownership are groundless....Quote:
Originally Posted by Brian1979
.... also Marian Ilitch is a few years younger that Mike... I don't foresee her wanting to relinquish control of the casino... and I can see her taking over the empire [[with her children) when Mike is no longer here. Unlike Bill Davison... Mike Ilitch's wife has ALWAYS been involved in the company business... and will likely always be so...
I don't think total retirement is in their blood...
Who gives a shit? I lose most of the time I go anyway - why should I care who gets my money?Quote:
Originally Posted by gopher
Uh I would hope that the most basic info is fact. What....do you own the Tigers or Red Wings?Quote:
Originally Posted by jcole
Thus why I asked before, because I hadn't heard anything else about the potential sale.Quote:
Originally Posted by rb336
It's not as bad as you're implying:Quote:
Originally Posted by jcole
http://www.nature.com/nature/journal...l/438900a.html
AHHHHH that is how it started. The casino Wynn bought is on the Mystic River -> the movie "Mystic Pizza" -> Little Caesar's Pizza -> Ilitch family -> Wynn bought Motor City CasinoQuote:
Originally Posted by jcole
I would be very surprised if the Ilitches sold the casino. They have spent years and tons of money assembling a large entertainment district. Starts with the stadiums in the East, moves though the theatres, and moves West ending in the Motor City Casino in the Northwest. There is every likelihood that the new entertainment district, when substantially completed, will feed more customers into MCC. It will be more lucrative going forward, I think, than it has ever been. Not sure why they would sell now. Although I can't claim to have any inside info, I am quite positive that when Mike & Marian do pass one day, their kids will not divest themselves of their Detroit interests. The Ilitches as a clan are clearly very Detroit-centric and proud of it.
No, but Marian Ilitch doesn't own the Tigers either and it says she does on that Wikipedia link.Quote:
Originally Posted by wolverine
Quote:
Originally Posted by 313WX
When the economy dropped a turd in the pool in 2008\9, MGM was left holding the bag on the unfinished CityCenter project [[Aria Casino). With CityCenter condo buyers backing out left and right, a couple billion $$ needed to finish CityCenter, and a shload of debt, MGM put all of their properties up for discussion with interested parties in hopes of bringing in much needed capital to keep them afloat.
http://www.detroitnews.com/article/2...80368/1001/BIZ
who are Wynn Resorts? If this bears out, would they be likely to try and expand their footprint here with other developments?
Wynn wanting Motor City would be like Eminem wanting a trailer home on 8 mile.Quote:
Originally Posted by Hypestyles
This is only related to selected science entries. Plus, the results should be interpreted more like "Encyclopedia Britannica is as bad as Wikipedia." Which is why Britannica got its panties in a bunch when the results were reported.Quote:
Originally Posted by noise
On topic...
I find it tough to make a real assessment considering the OP is a single sentence based on a rumor. If it is just a transfer of ownership, then it probably doesn't mean much.
Thats true. Bill Davidsons wife really screwed up the Pistons after her huspands deathQuote:
Originally Posted by Gistok
Wynn has been in the casino several times in the last few months. His son was there two weeks ago. They have been doing walk through with the CEO/GM.
A lot of behind the scene work is/has been going on. I don't know what all this means, maybe just taking over operations, maybe buying the joint. I hope for either case.
If you google Wynn, Motor City, and Detroit you don't get squat. My guess is total BS.
Las Vegas wonder boy Steve Wynn was one of the 7 original bidders [[1996) on the 3 Detroit Casino licenses. His bid involved a massive 800 hotel room casino to be called the Marquessa... which looked like the MCS but with a French mansard roof and fancy skylight entranceway... the fanciest and most impressive of all the 1990s casino bids based on the drawings.
However, Wynn refused to take on local Detroit minority partners, and his bid was denied... partly since 2 of the bids [[Atwater/MotorCity and Greektown) had preferences. The only real bid available went to MGM...
But Steve Wynn has a track record as a very flashy casino impressario with impressive casinos [[which he later sold).
I haven't checked the Britannica entry on Marian Ilitch to compare.Quote:
Originally Posted by Zug
In other words, all encyclopedias are bad. That doesn't really help any of us, nor does it say much to discredit Wikipedia.
Wikepedia allows people to edit the entries at will. From Wikipedia's entry about Wikipeida:Quote:
Originally Posted by noise
Therefore, most entries are open to being someone's opinion or misunderstanding of the true nature of the subject.Quote:
n a departure from the style of traditional encyclopedias, Wikipedia is open to outside editing. This means that, with the exception of particularly sensitive and/or vandalism-prone pages that are "protected" to some degree,[26] the reader of an article can edit the text without needing approval, doing so with a registered account or even anonymously.
Yes...let Wikipedia discredit itself.
http://en.wikipedia.org/wiki/Criticism_of_Wikipedia
And for those that think the most basic info in biographies is "fact"...that's not always the case. I've seen people's basic information change like age & birthplace [[actress Audrey Tautoo has 2 birthdays on her profile right now...don't judge, I just watched The DaVinci Code :o). In this very thread, jcole explained that something on Marian Ilitch's Wikipedia [[that she is an owner of the Tigers) is not accurate. So it's not a stretch to think it may have other inaccuracies. It may not be inaccurate too...but since it is not an authoritative source, we cannot be certain. Sorry for harping on this, but I hate when people act like an open-source encyclopedia is really reliable. Granted, it's not horrible, like http://www.conservapedia.com, lol, but still.
Yes, and as previously stated, in many cases their entries are as accurate or more accurate than established encyclopedias like Britannica.Quote:
Originally Posted by jcole
On topic...I'm glad 48217 & Gistok could add some substance to the debate. If Wynn takes ownership, do you think that would lead to rebranding or more investment?
That's okay. I hate when people act like a proprietary encyclopedia is drastically more reliable.Quote:
Originally Posted by Zug
We're talking about encyclopedias, after all. Not a source of scholarly info.
In my posts I'm not acting like other encyclopedias are a lot better...so I know you're not referring to me. The last time I could use an encyclopedia as official reference material was in 8th grade.
But I would say that, in general, a "proprietary encyclopedia" is better in the sense that the editors/authors are accountable and they rely on source material. There's no guarantee that Wikipedia is the same [[and many articles are light on references). For the most part, I agree that it's not wildly inaccurate...and for new or obscure topics, Wikipedia is better only because regular encyclopedias do not create topics instantly nor dedicate the resources to find an author to write an entry on a topic like "Marian Ilitch."
Wikipedia has it's purpose, and can be useful...I use it myself to find summarized information quickly, while understanding that it is not the best source. It just seems odd that a couple people started defending Wikipedia's accuracy after jcole pointed out that it was wrong on one of the issues being discussed [[MLB ownership).
I'm not referring to you at all. I find it kind of amusing that people are criticizing Wikipedia in 2013 as though it's a new idea or ignoring the validity and usefulness of ANY encyclopedia.Quote:
Originally Posted by Zug
When used appropriately, Wikipedia is as useful as any encyclopedia.
Speaking of the Tigers issue, though, is it officially owned by Ilitch Holdings? Perhaps then Marian would be an owner?
I think it's funny to speculate on what would happen if an apparently baseless rumor was trueQuote:
Originally Posted by Zug
I'm just trying to get a sense of whether a Wynn takeover would be a good thing, bad thing, or make no difference. Given that someone felt it worthy to post the topic, and a second person said they hope he will buy it, I'm trying to get why it's a big deal for some. Will it actually mean something substantial? Or is it only a matter of profits going into a different person's hands?Quote:
Originally Posted by rb336
Thanks Zug.... here's my take... would I like to see Marion Ilitch sell MotorCity Casino... NO.... but if she did, I can't think of any operator in the world I would rather see buy it... than Steve Wynn. He's raised the bar on opulence for gambling resorts world wide. He built and owned the Bellagio, "the last word" at the time it was built. He would take Motor City Casino... and really jazz it up... although it already is rather jazzy. But he would likely make it to outclass the MGM Grand Detroit Casino... no doubt about it....
Motorcity is, to me, by far the least appealing of the 3 casinos because of its location and architecture. This is another example of the Ilitches having a chance to really solidify the downtown entertainment area by building a new casino behind the Fox or elsewhere downtown but they chose to just take the cash from a temporary casino made to look permanent by adding a cheap-looking hotel. I don't know exactly what Wynn could do with the place at this point in time with the local market shrinking due to competition from Ohio, etc.