Casino Sept08 P12 8/21/08 12:46 pm Page 12
STATESIDE
Stateside
Sharon Harris looks at what the American public is up
to in lean economic times…
W
elcome back. I hope you had a great Like other businesses, gaming is confronting revenue
summer. My husband Norman and I decreases and lighter customer traffic in casinos all
took a road trip in mid-July. Who over the US. Las Vegas, a “prisoner” of the gas pump,
wants to pay those pricey airfares? has been uniquely hit. Isolated in the desert, one can
We drove 900 miles in six days. only arrive by air or car, heightening the problem.
Our first stop was Hyde Park, New York. Located Can Las Vegas weather this storm? It will have to,
north of Manhattan in the Hudson River Valley, the despite some shocking developments. For example,
area is home to the President Franklin Delano some hotel rates are down 20 per cent from last year.
Roosevelt (FDR) family estate and presidential library. MGM Mirage, the Strip’s largest casino operator, has
We love touring these libraries for their laid off 440 corporate and property-level management
perspectives on America. We’ve attended the Bill employees. Boyd Gaming’s $4.8 billion Echelon
Clinton Library opening in November 2004, and also construction has been “suspended” up to a year.
visited the John F. Kennedy library in Boston. Under construction since June 2007, the project’s
FDR entered office in 1933, years after the 1929 skeleton structure will remain untouched. Even the
Great Depression gripped the world. Within 100 Nevada Gaming Control Board is facing budget cuts,
days, he immediately passed massive legislation to which may affect regulation at the state’s casinos.
jumpstart the American economy. Program after With gas averaging $4 a gallon for regular gasoline
program took shape, costing billions, but helping in numerous states this summer, consumer habits
people rediscover their souls after years of despair. changed. Millions stayed home, enjoying a
He then led America through World War II, “staycation”. When traveling, they spent less.
following the Pearl Harbor attacks in Hawaii on While company chiefs plan against tough
December 7, 1941. FDR again inspired the nation; the economic times, leadership may mean more during
US proved itself a superpower when faced with unexpected events. In late July, Revel Entertainment's
disaster and doom. What we proudly call our Chief Executive Officer, Kevin DeSanctis learned
“American Spirit” exploded in full force. firsthand about leading during dark days.
However, the public never fully understood FDR’s One morning, a private corporate jet left Atlantic
In office for 12
personal battles. Stricken with polio in 1921 at age City International Airport with six southern New
years, FDR held
39, 10-pound steel leg braces supported his paralyzed Jersey passengers. All were working on the $2 billion
legs. When speaking at a podium, his strong upper Revel casino project, scheduled to open in 2010.
steady while
body supported his weight. FDR died in April 1945, There were three Revel executives, two executives from
confronting bleak,
months before the Japanese and German surrenders the glass company supplying the casino, and one from
ended World War II. the construction company building the property.
gloomy events.
I have childhood memories of hearing my dad Within two hours, these six and the two co-pilots
Agree or disagree,
often debate FDR’s legacy with my maternal were dead, victims of a horrific runway crash at the
grandmother. She loved FDR, touting his many small destination airport. Our community went into
he epitomized
accomplishments. My father countered that FDR put immediate mourning, many remembering the 1989
leadership.
America in debt for future generations. They adored helicopter crash that killed three Trump executives
each other, and from these conversations, I learned prior to the Taj Mahal opening.
that leaders still never hit 100 percent. Well known in gaming, DeSanctis worked in Atlantic
In office for 12 years, FDR held steady while City for years. He was the former president of Trump
confronting bleak, gloomy events. Agree or disagree, Plaza. He left to become president and chief operating
he epitomized leadership. officer of Penn National Gaming Inc. DeSanctis
The gaming industry needs strong leadership now. resigned in 2006 to start Revel Entertainment.
The American Gaming Association’s (AGA) members With an obviously heavy heart, DeSanctis’s
represent hundreds of billions in American leadership will be put to the test. One supporter,
investments, employment and tax revenues. Can they Donald Trump claims, “Kevin DeSanctis is an excellent
influence the credit markets and economy? Can they guy. He will figure it out better than anyone.”
promote risky positions on taxes and labor to Good luck. We hope he can make his deceased
guarantee the industry’s future? colleagues proud.
12 SEPTEMBER 2008
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