Stephen A. Wynn
Hello, and good afternoon, everybody. I appreciate Linda staying up so late in Macau. I think we have everybody here to answer questions. I'll make a couple of summary remarks. First, Las Vegas.
Last year, we -- I've mentioned before, we enjoy a great deal of very high limit Baccarat business. And that high play tends to be volatile. In the long run, not so much. But in the short run, it can be. For example, last year, during the 6 months, the first 6 months of the year, winners. That is to say, people who won money from the casino were outnumbered by the losers. The losers were outnumbered by the winners. And that is to say, the amount of money we paid to people who beat us, compared to the amount of money of folks who lost money to us was a positive for the company of $150-odd million.
This year, the people who won money in the casino were much more, and the people who lost money to the casino were less, and the delta was $38 million. That is to say, there was $112 million difference in 6 months in the win of the casino associated with high limit Baccarat.Last year, we held 37% or something like that. And this year, it's 17%. Normalized, it's about 26% for that gain. So when you normalize everything, the trend in Baccarat, Marc will remind me, in 2010, high limit Baccarat won how much, Marc?Marc D. Schorr$111 million.Stephen A. Wynn$111 million, and then if you normalize a whole percentage...Marc D. Schorr$125 million.Stephen A. WynnPardon me?Marc D. SchorrIn 2010, if you normalize it...Stephen A. Wynn2010 was $125 million...Marc D. SchorrNormalized.Stephen A. WynnNormalized.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV