If you’ve ever been to Nevada, you’ll know that there’s nothing quite like seeing the bright lights and bustling crowds in Las Vegas. Home of box office busting sporting events and casinos as far as the eye can see, it’s the kid in a candy store gambling equivalent for those who like their entertainment faced paced and with an element of risk. Of course that’s all changed for now though, due to covid-19. While the lights may still shine bright, the crowds are absent and it’s a world on pause. A place once full of life, now replaced by an eerie and unfamiliar silence.
How long this will continue for is anyone’s guess, but Matt Maddox, the CEO of Wynn Resorts is calling for the Las Vegas Strip to begin reopening as early as May with certain restrictions in place. Mirroring a gradual return that will likely also be seen in other sectors, Maddox foresees measures such as reduced occupancy, increased testing and a requirement to wear masks put in place. He has his eye on mid to late May for this process to begin. This is no doubt music to President Trump’s ears as he’s more than eager to get the economy up and running again.
“I understand that if we incrementally reopen we might have to pull back if a spike in cases occurs that jeopardizes our health care system capacity. However, the only way to cross this river is one stone at a time, and we need to put our feet in the water before it is too late,” Maddox wrote.
Credit to Wynn Resorts as they’re currently still paying all part and full-time employees. A move that the CEO says is costing the company an eye watering $3,000,000 per day. In these unprecedented and unpredictable times, who knows when we’ll find ourselves returning to some semblance of normality where we feel safe in busy environments. I certainly welcome a time when we do though.
The late Fouad al-Zayat, who died in Lebanon in 2018 at the age of 77, was a Syrian-born businessman, known in casino circles as the ‘Fat Man’. A prolific, but secretive, gambler, the twenty-stone billionaire regularly frequented Aspinalls Club in Mayfair, in the West End of London between 1994 and 2006. Initially, al-Zayat gambled tens, or hundreds, of thousands of pounds in a single visit but, towards the turn of the century, satisfied the definition of a high roller, or ‘whale’ in casino industry parlance, by raising his stakes to a million pounds, or more, in a single visit.
All told, in a twelve-year period, al-Zayat gambled £91.5 million at Aspinalls, losing £23.2 million, or 25% of his stake money. However, in March, 2000, al-Zayat drew four house checks for £500,000 apiece and lost all £2 million playing blackjack. He subsequently cancelled a cheque for £2 million, following a row over a croupier and, in 2006, Aspinalls sued him for that amount, plus £50,000 in costs. Initially, al-Zayat was ordered to repay the debt, but successfully appealed to the High Court on the grounds that Aspinalls had allowed him to defer payment for twelve months and, thereby, effectively allowed him credit that was illegal under the Gaming Act. The High Court judge agreed and the original ruling was overturned, effectively wiping out the debt. In 2015, al-Zayat was tried in absentia, convicted and sentenced to life imprisonment for bribery in Greece and, at the time of his death, was also wanted for fraud in Cyprus.
