motorcity casino sold to wynn resorts limited [Rumor]

[noise]

That is Wikipedia; half the stuff in their is someone's opinion, not fact.

It's not as bad as you're implying:

http://www.nature.com/nature/journal...l/438900a.html

[rb336]

This is the only article I find about a new acquisition for Wynn:
http://www.reviewjournal.com/busines...-massachusetts

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 Casino

[MikeyinBrooklyn]

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.

[jcole]

Uh I would hope that the most basic info is fact. What....do you own the Tigers or Red Wings?

No, but Marian Ilitch doesn't own the Tigers either and it says she does on that Wikipedia link.

[raptor56]

From 2009...
http://online.wsj.com/article/SB123883052441189601.html

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

[Hypestyles]

who are Wynn Resorts? If this bears out, would they be likely to try and expand their footprint here with other developments?

[401don]

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.

[Zug]

It's not as bad as you're implying:

http://www.nature.com/nature/journal...l/438900a.html

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.

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.

[CLAUDE G]

.... 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...

Thats true. Bill Davidsons wife really screwed up the Pistons after her huspands death

[48217]

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.

[DetroitPlanner]

If you google Wynn, Motor City, and Detroit you don't get squat. My guess is total BS.

[Gistok]

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).

[noise]

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.

I haven't checked the Britannica entry on Marian Ilitch to compare.

In other words, all encyclopedias are bad. That doesn't really help any of us, nor does it say much to discredit Wikipedia.

[jcole]

I haven't checked the Britannica entry on Marian Ilitch to compare.

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:

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.

Therefore, most entries are open to being someone's opinion or misunderstanding of the true nature of the subject.

[Zug]

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 ). 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.

[noise]

Wikepedia allows people to edit the entries at will. From Wikipedia's entry about Wikipeida:

Therefore, most entries are open to being someone's opinion or misunderstanding of the true nature of the subject.

Yes, and as previously stated, in many cases their entries are as accurate or more accurate than established encyclopedias like Britannica.

[Zug]

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?

[noise]

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 ). 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.

That's okay. I hate when people act like a proprietary encyclopedia is drastically more reliable.

We're talking about encyclopedias, after all. Not a source of scholarly info.

[Zug]

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).

[noise]

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.

When used appropriately, Wikipedia is as useful as any encyclopedia.

[noise]

Speaking of the Tigers issue, though, is it officially owned by Ilitch Holdings? Perhaps then Marian would be an owner?

[rb336]

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?

I think it's funny to speculate on what would happen if an apparently baseless rumor was true

[Zug]

I think it's funny to speculate on what would happen if an apparently baseless rumor was true

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?

[Gistok]

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....

[401don]

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.