Steve's eyes aren't the best. It looks like something shiny enough to get through. Plus the artist is one of those guys who makes art heads go #$%$ but they kill to buy his stuff no matter how insane or ugly or derivative or trite or trollish it is. Cf. Damien Hirst, Jackson Pollock, Van Gogh, etc.
And recall, Wynn is the guy who put his elbow through a Picasso and sold it to the same guy who was going to buy it before, and for 10% more after it was glued back together.
It doesn't matter what you think of it, it matters what the next person on the provenance is going to think of it.
But we shouldn't be making decisions about food and things people need with the same bargaining criteria as we make them about intrinsically worthless objects that people just want. Art transactions like this should be taxed at twice the normal sales-tax rate, and staple food and water and heat should be free.
you are far, far too kind to douchey, who I'm sure is working on his kindergarten GED in his spare time away from the trolling desk.
1. CNBC is a large network, you heard from one person
2. most people giving their opinion regularly on CNBC are either corrupt, incompetent, or insane.
3. whatever you heard, if it talked about the realities of the crackdowns and the eventual effects, and you didn't get the sense that this is a temporary glitch that will shift dark money into the light, if you didn't get the idea that this will increase on-book revenues and profits, then you were either misinformed or you misunderstood.
The reputed $90 billion in dark money is used in side-bets, basically private gaming in the junkets' pocket that the casino never sees or accounts for. As the authorities move to quash this illegal behavior, the desire of participants to participate will only be affected to the extent that they absolutely had to do it illegally to hide things. Any of that side betting that was being done conveniently because they were also doing some necessitated hiding of their betting will simply move onto the table.
Essentially, it'd be the same thing if the SEC changed the rules of public-stock transactions so that every offer and trade and transfer of beneficial ownership has to be printed on some sort of exchange; that'd massively increase order books and transaction volumes while reducing the total including dark-pool activity only slightly.
Panic if you want. Smart money won't.
The entire market is down today. Red across my entire board (except the shorts, which are fat and green).
WYNN is actually one of the least affected. It's clear that someone early each day wants to close out a big position, and someone late each day wants to accumulate at whatever price the early bird is willing to give up at.
Profit-takers vs. people who know the score on the future of Macau.
At these prices I may start rotating my free cash into the casino stocks (primarily WYNN, LVS, MPEL, and MGM). There's years of upside yet. China is cracking down on illegal practices, but they beef up legal practices to cover. They may not like scofflaws, but they love economic development, and they absolutely love the massive growth that's being driven around Macau, even if some cash is flowing out, as long as they can assure themselves they're looking tough on real corruption.
The word you're looking for is "girth".
Now bite the pillow and stop crying.
250 by Wynn Palace open. Goldman calling for 265 in 12 months and Credit Suisse looking for mid-300s by 2016.
You're fighting the big boys.
201.22. Winner, winner, troll dinner.
Just about what you owe him now.
get your chapstick out
now you pay.
201.22. Pay up.
All they'll do with the visas is require them to get proper visitor visas instead of transit visas, just to keep the paperwork clean.
Look out for trolling short implosion of 100% by the time Wynn Palace opens.
You know exactly nothing about valuation.
Short interest now over 114 million shares.
I'm a small fraction of that, but not nearly all of it.
So you are the one who's lying.
UnionPay allows a $million a day. It's not being shut down. Give it up.
Look at a longer chart. It's doing the same thing it did on three of the last four days.