Norm! column

Jan. 17, 2008

Adelson has some words about Wynn

[Hear Adelson for yourself by clicking here]

Billionaire casino developer Sheldon Adelson is taking on his favorite targets again. "I will not be cowered by either the unions, Steve Wynn or any other competitor," Adelson told Las VegasSteve Friess in an interview for USA Today. freelance writer

That's among several juicy quotes that didn't make it into the article that led USA Today's business section Wednesday as Adelson prepares to open his latest property, the $1.9 billion, 50-story Palazzo across the street from Wynn's $2.7 billion Wynn Las Vegas.

The third-richest man in the United States and No. 6 in the world, with a reported $28 billion, Adelson, 74, said he's not conceding an inch to gaming giant Harrah's, the owner of Caesars Palace, or fellow billionaire Wynn, whom he hasn't spoken to in years.

"I like Gary Loveman," Adelson said, referring to the chairman, CEO and president of Harrah's Entertainment Inc. "I think he's a very good guy. He's a good operator for what he's doing. I don't even consider him a competitor; he's a colleague, he's a peer.

"But I think Caesars' time has come, and Wynn has come and gone," said Adelson, chairman and CEO of Las Vegas Sands Corp.

Wynn properties years ago took away the mystique of Caesars Palace, Adelson said. "Wynn is very, very good at creating mystique. Of course I don't like him, but he's the best at doing mystique." Adelson said he complimented Wynn about the time he opened The Mirage and said, somewhat as a joke, "I said you do a good job ... maybe you could work for me. I think he got a little insulted."

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