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Inside Gaming Column: It's Wait and See for Mandalay's 'Project Z'8 March 2004Mandalay Resort Group President Glenn Schaeffer said last week his mysterious "Project Z" has been put off and will not happen this year and probably not next. While he said a fourth Mandalay Mile megaresort that would take an open spot near the southeast corner of Russell Road and the Strip "clearly has great potential," it will have to take a back seat to returning shareholder value from what may amount to more than $1 billion in free cash flow over the next few years. *** Pleased with last year's success using the lure of exposed skin to promote local tourism among Southern Californians, the Las Vegas Convention and Visitors Authority plans to again sponsor the June 19-20 Playboy Jazz Festival at the Hollywood Bowl in Los Angeles. This year's sponsorship calls for more than $133,000 contribution toward two client events, including an April 30 party at the Playboy Mansion, also in Los Angeles. The authority will vote on the sponsorship at Tuesday's board meeting. *** Las Vegas casino execs say the politics of tribal gaming are about to turn ugly. Last week, an appeals court for the first time in 180 years rejected claims of sovereign immunity and ruled California can sue tribes failing to report campaign contributions. The 3rd U.S. District Court of Appeals ruled "the constitutional right of the state to sue to preserve its republican form of government trumps the common law doctrine of tribal immunity." The ruling against the Agua Caliente Band of Cahuilla Indians is particularly important because tribes are huge campaign contributors, giving more than $130 million to support California candidates and ballot issues since 1998. *** It seems Las Vegas has no monopoly on political shenanigans. Los Angeles Assemblyman Ron Calderon reportedly has obliterated his campaign war chest with trips to Las Vegas for himself and his staff. On the Las Vegas retreats, staff members stayed and dined at The Venetian and Mandalay Bay. The assemblyman has also raised money here, selling tickets to an Oscar de la Hoya fight for $3,200 a seat (plus some one-on-one time). *** Nevada Gaming Commission member Pete Bernhard voted for the Binion's Horseshoe sale last week, but only after disclosing a conflict of interest. He told a packed room, mostly lawyers representing clients, he and his wife of 32 years spent their wedding night at the 52-year-old downtown landmark. "So obviously, it's been a big success." It wasn't clear if he meant the marriage or the hotel-casino, but odds favor the marriage. The Inside Gaming column is compiled by Gaming Wire Editor Rod Smith. You can contact him by phone at (702) 477-3893, fax (702) 387-5243 or e-mail at rsmith@reviewjournal.com. Copyright GamingWire. All rights reserved. |