Casino magnate Steve Wynn trashes Obama
July 19th, 2011
12:16 PM ET
3 years ago

Casino magnate Steve Wynn trashes Obama

NEW YORK (CNNMoney) - Billionaire CEO Steve Wynn used his company's earnings call to trash President Obama and his economic policies Monday - calling the administration a "wet blanket" on the business community.

"I'm saying it bluntly, that this administration is the greatest wet blanket to business, and progress and job creation in my lifetime," Wynn said in response to a question about Las Vegas real estate.

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Filed under: President Obama
soundoff (37 Responses)
  1. Russ

    Steve Wynn is a has been. The only jobs he's created recently is in his over seas casinos, none here in Nevada. He's lost so much money in the past I can't believe he's really still a billionaire. Maybe his wife is after the divorce. Put your money were your mouth is Stevie boy, hire some people in this country instead of hoarding every penny you make for your own personal pleasure. What a hypocrite.

    July 19, 2011 12:24 pm at 12:24 pm |
  2. Marie MD

    We ard going to listen to a casino owner? Who knows who he is bed with? I bet he is a friend of the trump man.
    You lost alll credibility when you caled the President "the guy". Sort of mcacin and "that one"!,
    Yiu might support both parties but the rethugs want you o keep making more money!!!

    July 19, 2011 12:24 pm at 12:24 pm |
  3. David

    Wynn put to voice what every adult already knows.

    July 19, 2011 12:27 pm at 12:27 pm |
  4. Mark

    All Obama has going for him is Hollywood/Soros money and the Obama Press

    July 19, 2011 12:27 pm at 12:27 pm |
  5. Rick McDaniel

    Business complains about nothing.

    It is the people that have suffered the most, in this depression, and it is their lack of income, to spend with business, that business complains about.

    Let business recognize that people have suffered greatly, by the time business even notices.

    July 19, 2011 12:27 pm at 12:27 pm |
  6. ConservaFASCISTS/Domestic Terrorists/Taliban/Al Queda/TRAITORS

    Redistribution of wealth? You can't be serious. All the money is going to the top and none of it is trickling down you fascists prick. Do us all a favor and take your corporate jet and crash it into Mt. Everest.

    July 19, 2011 12:30 pm at 12:30 pm |
  7. edog

    Every time I hear a CEO or billionaire talk about how bad the Obama Administration is I send another $50 contribution to his re-election. What do you expect them to say!! Of course they don't like the fact that times are changing and the corporate fat cats will be held responsible for their actions. The only two billionaires that have any credibility with the middle class are Bill Gates and Warren Buffet, who both have donated the vast majority of their wealth to the common good of mankind.

    Warren Buffet believes in more taxes for the super rich and that they can afford it and it won't hurt the economy. Let me ask the 'Tea Party' this... When a millionaire or billionaire gets a tax credit, and they buy another house in Europe or go on a trip around the world, does that money get spent here in the USA? Think about it, the super rich do not create jobs unless there is demand for their products. The demand comes from a strong middle class. The super rich takes their tax cuts and spends it overseas!!!

    July 19, 2011 12:31 pm at 12:31 pm |
  8. GI Joe

    Cut, Cap, Balance is kinda like forcing a family to take in more and more children to raise (pop. growth of US), and insistng that they get no income increases EVER, and have to manage by cutting utilities, food, clothing, housing, etc.

    NO INCOME INCREASES EVER, YET ALL THE OTHER RULES APPLY. How is that rational?

    July 19, 2011 12:39 pm at 12:39 pm |
  9. Tony

    What a load of crap!

    This guy has more money than god and he wants even more; and blames the president because he isn't making it fast enough?

    Here's a present for Steve Wynn...

    I will never frequent a resort that he is in any way connected to again. I hope the rest of the public votes with their feet and does the same!

    July 19, 2011 12:41 pm at 12:41 pm |
  10. Chipster

    It's such a shame that executives must limit their bonuses to a mere few million $$$ just because the President is unwilling to TAX Senior Citizens to pay for more tax cuts for corporations and executives. Just because seniors paid for their benefits for decades; just because they haven't had a cost of living increase in over 2 years; just because temporary Bush tax cuts, 2 wars, unfunded mandates to states, unfunded Part D handouts to pharmaceutical companies, and 2 industry bailouts in 2008 brought our economy to its knees – is that any reason to punish millionaires and expect them to pay their fair share of the burden?

    July 19, 2011 12:43 pm at 12:43 pm |
  11. A Kickin` Donkey

    First, consider the source, the types of jobs he might create and the underlaying contribution of the "business"[or lack thereof].

    wynn is a gambler & speculator and when we had a cowboy mentality in the WH he was happy because society as a whole reflected & embrassed that modus operandi. Wynn longs for his good old days.

    If a businessman is concerned about uncertainty, the biggest uncertanty is from the interest rates responding to the risk of default – that was brought on by the GOP, not the President.

    I`d like to see some details on all these "regulations" that President Obama has IMPOSED. The claim is hogwash, just like tax cuts for job creators.

    July 19, 2011 12:45 pm at 12:45 pm |
  12. Anthony

    Really? Obama has kept the Bush tax cuts, and 1/3 of the stimulus was tax cuts. Taxes are at the lowest level in 60 years (since the Truman Administration), Obama has to spend money to keep the economy from going into a depression (we are a consumer-driven economy, but consumers don't have money right now), bail out the auto industry (otherwise we are getting our cars from China), pay out more in unemployment benefits, keep the two wars going, while coping with lower revenue from the Bush tax cuts (made worse by the recession). Obama also changed the Bush policy of fighting wars off the budget, which allowed Bush to hide the true size of the deficits under his administration. What more do Republicans want?

    July 19, 2011 12:46 pm at 12:46 pm |
  13. Sniffit

    "Wynn's company, the resort and casino operator Wynn Resorts (WYNN), actually did quite well in the second quarter, earning $122 million or 97 cents per share."

    In other words, he just doesn't like President Darky, and is desperately afraid that the current steep trajectory of wealth resdistribution from the middle-class and poor to the already wealthy and corporations, which has existed for several decades and has already massivelky redistributed the nationa's wealth, assets and income upward, will finally get rightfully flattened.

    July 19, 2011 12:48 pm at 12:48 pm |
  14. Sniffit

    "What more do Republicans want?"

    A white guy.

    July 19, 2011 12:49 pm at 12:49 pm |
  15. Rudy NYC

    It would seem that Mr. Wynn is in denial. Mr. Wynn believes that he can do no wrong when it comes to managing his business interests.

    Any failure or lack of success is someone else's fault. Doesn't he realize how much he sounds like Trump?

    July 19, 2011 12:50 pm at 12:50 pm |
  16. Sorensen

    Mr. Wynn does not have the knowledge, status, education, class, credibility, etc. to even talk about Obama.
    He is a casino owner, like Trump used to be.
    He does fit well into the old, irrelevant, greedy bunch of capitalists in the GOP.

    July 19, 2011 12:51 pm at 12:51 pm |
  17. Wes B.

    Is this guy serious? The gap between rich and poor is getting bigger every single day. He's getting richer by the minute.

    Don't believe his lies. He has NO interest in making life better for Americans.

    July 19, 2011 12:51 pm at 12:51 pm |
  18. Lost in Texas FOREVER

    this jerk must be scared Obama is going to raise his taxes or take his corporate jet away. Instead of whining about the president why don't you take the tax breaks and cuts you've had for the past 12 years and hire some people, pay them GOOD wages and benefits and help reduce the unemployment rate. Warren Buffet this guy is NOT.

    July 19, 2011 12:54 pm at 12:54 pm |
  19. Steve, New York City

    Hello Mr. Casino. Why don't you reveal to America what is your marginal tax rate?

    July 19, 2011 01:04 pm at 1:04 pm |
  20. The Real Tom Paine

    The moment I heard " Las Vegas", this story went from news to entertainment.

    Next time, CNN, please quote someone who's work actually matters to the real economy that 98% of us actually live in.

    July 19, 2011 01:10 pm at 1:10 pm |
  21. Ray E. Georgia

    Well,
    The Offical 9.2 Percent Unemployment Figure speaks for itself. Obama should have extended the Bush Tax cuts long before he did and for at least 10 years. Will we wind up like Greece?

    July 19, 2011 01:13 pm at 1:13 pm |
  22. Democrat Class Warfare & Race Baiting - Destroying the economy, destroying the country

    "The business community in this country is frightened to death of the weird political philosophy of the president of the United States," Wynn said.
    But things won't improve, Wynn said, until Obama is out of the White House.
    "Until he's gone, everybody's going to be sitting on their thumbs," Wynn said
    ===================================================================================
    I've been saying this for over 2 years now.

    Obama showed himself when he dropped his pants speaking to "Joe the plumber" about 'sharing the wealth". The idiot is a pure socialist, or worse, at heart and everybody now sees it.

    Until Obama is thrown out, along with the far left "progressives" in Congress, this country's economy IS GOING NOWHERE.

    July 19, 2011 01:15 pm at 1:15 pm |
  23. Anonymous

    just made my rez at his hotel in Vegas

    July 19, 2011 01:15 pm at 1:15 pm |
  24. NYC REPUB

    I'm so tired of these billionaire hacks playing politics......His business is in the black!!!! He's just fine. I bet if we got rid of all the whiners, there are 1000 more business leaders ready to take his place...... Heinz controls the ketchup market, but if heinz fell ,I bet there would be another company waiting in the wings, to takeover the Ketchup market..... All this regulation BS is bull. I don't listen to people who didn't experience one iota of this recession.....If you want to hir then hire....but here's the truth, companies don't hire b/c they want to hire.....They hire b/c they NEED to......It's all about DEMAND.

    July 19, 2011 01:24 pm at 1:24 pm |
  25. Jeff

    well...f him! I go to Vegas several times a year, I was looking forward to staying at the Wynn or Encore some time, but not now. Too many other newer places now anyway, just stayed at the new Cosmopolitan, very cool and hip, Wynn's probably passe now anyway. BTW wasn't it Bush's economic meltdown that was just getting STARTED as Obama was coming into office that caused all this? We're still trying to recover from that disaster of a President, Bush, gimmie a break!

    July 19, 2011 01:25 pm at 1:25 pm |
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