"Clown-town"..Politics in Las Vegas

I have to admit, you never know what you are going to see in Las Vegas. No I did not see Matt Damon again:< I was standing in the parking lot of a convenience store and a bunch of cops came in and secured the perimeter. I asked the officers what was up,  "The Obama motorcade was coming down the road in a little bit". They gave me the option to leave,  I thought "What the hell" it isn't every day you get to see something like that.

Let me give everyone a brief history on the street they were traveling. The last two years they have been working on a 2-3 mile stretch of road (Durango) It stops, it starts, it stops again. It was a "stimulus" money project. The road finally gets completed about a week before Obama's visit, remember it's election time in Nevada and Harry Reid is "fighting for his political survival".

Back to the motorcade, i'm standing in the parking lot when I hear everyone say get ready. The next thing I know I am watching about 100 cars and motorcycles whiz by. About half-way through you see three limousines. The whole motorcade process took about 2-3 minutes. After the motorcade passed the police waited about five minutes and re-opened the road. The motorcade was a very impressive site.

How much attention do you pay to politics? When i lived in Kansas I didn't care anything about it. I used to think politics were boring. Not anymore! Watching the politicians in Las Vegas is "akin" to watching a three-ring circus. Some of the politicians of Nevada remind me of kids "drawing plays in the dirt." I have a nickname for all of it "Clown-town". It reminds me of when I was young and my Uncle Joe would take me to an amusement park in Hutchinson called Clown-Town, funny times.

I need to add politics to my list of favorite things in Las Vegas. Women, weather, opportunities, the strip, and politics. I now have five things that I find enjoyable about Las Vegas..Rob Astle

2,995 new hotel rooms on the Stip? What? The Cosmopolitan Hotel

A brief history on the Cosmo, it was built during the "go-go" years, for those of you familiar with Las Vegas. It is located between the Bellagio & City Center. The original builder went "belly-up". Deutsche Bank was holding the paper and instead of selling it off, they decided to hold and finish.

A soft opening is scheduled for December 15 with the grand opening over New Year's. I am excited about the opening because it will help create a bunch of new jobs, but on the other hand, it will be adding an additional 2,995 rooms to an already bloated market. How does a bank get into the casino business? It's not as hard as it sounds. They wait for a property to fail, foreclose on it, complete the project and then outsource the management. Basically, they were far to deep into the project to "mothball" it and decided it was a better course of action to complete. 

It looks like one of the new "major players"on the strip is going to be a German Universal Bank. What? A bank running a casino. That sounds like an oxymoron to me:> Rob Astle

"Three Great Ones"

How many people have seen the move A Bronx Tale? In the movie Sonny tells C that you will meet "three great women in your life." For those of you who have not seen this movie,  Chazz Palminteri portrays Sonny (the neighborhood mobster). Robert Deniro has a supporting role.

Personally, I have had the privilege of meeting two great women in my life. The first one was a long time ago. The second  was my ex-wife. Will there be a third? Who knows? A friend of mine in Las Vegas is an avid horse bettor. I told him about my thoughts and he said "Your trying to hit the trifecta" (parimutuel bet in which the bettor must predict which horses will finish first, second, and third in exact order). The odds of hitting a trifecta are very slim.

If you have not seen A Bronx Tale, check it out. It is one of my top ten favorite movies. They just finished a three week run at the Venetian (it was a one-man show of the same name before it was converted to a movie). For all of you who are searching for the "3 great ones". Good Luck and Happy Searching..Rob Astle

23 cents on the dollar for M casino? What?

I want to give everyone who is not familiar with Las Vegas and the casino game a better understanding of this deal. It is hard for me to translate the numbers. I'm not sure how many people would understand, so I am going to tell everyone in a layman's way how it works.

The M Resort was opened a few years ago, This casino was built specifically to capture the SoCal crowd. I have been to the M a number of times. Beautiful place with lots of scenery.

Long story short, the market crashed and the owners of the M were forced to do something. The outstanding debt was close to 800 million, the bank sold the debt for 230 million to Penn Gaming (23con$). Penn Gaming is the outfit that is building the casino at The Kansas Speedway. They own a number of non-Las Vegas gaming venues.

I have been trying to figure out what the re-sell price on a completed Vegas casino would be. I am starting to get a better idea. If you take into account Phil Ruffin's purchase of Treasure Island (roughly 30con$) and combine that with the M re-sell of (23con$). Currently, the re-sell value for a Las Vegas casino is somewhere between (25-27con$). Remember, I am giving  a very "layman's" view on the numbers, different locales will have different re-sell figures. This is only what I have seen so far.

I believe a number of Vegas casino's are destined to change hands over the next five years. I am making it a priority to get an accurate view on where they are going? Who is buying them? Whomever chooses to read my blog will be hearing a lot about the casino's in Las Vegas. Have a Nice Day..Rob Astle

Did you know a guy from Kansas owns Treasure Island?

Phil Ruffin graduated from Wichita North in 1953. Many people are familiar with his story. I will skip all the background and tell you how he made out like a "bandit" when most casino's are floundering.

Ruffin bought the Frontier Casino in 1999. For those of you not familiar with The Frontier, it was an old Vegas style casino located on the North strip. Ruffin sold the Frontier to El Ad Properties in 2007 (right before the market crashed). The 1.2 billion price for the 36 acre property was the largest per acre purchase in The Strip's history.

Ruffin than turned around and bought the Treasure Island from MGM/Mirage for a reported 775 million. . (MGM was struggling to raise funds for the completion of its CityCenter project and approached Ruffin about purchasing Treasure Island). Ruffin estimated that it would cost 2.7 billion dollars to build a resort like Treasure Island from the ground-up. Treasure Island is about 700 yards from his old casino. His old casino has been razed and the development of "The Plaza" (The new owners were going to build a replica of the Plaza Hotel in New York) has been indefinitely delayed because of the sour credit markets.

Mr. Ruffin's timing could not have been better. He got "top-dollar" for a property that has since lost a considerable amount of its value in the last three years. He then turned around and bought a property for a 1/3 of what it would cost to build new. Just when you thought things could not get any better for Mr. Ruffin, he married a former Miss Ukraine in 2008. She is 27 and he is 72:> Rob Astle

My dog is the best "wing-man" I have ever had!!

A friend of mine asked me to describe some of the women in Las Vegas and where a good place to meet them is?  Las Vegas is a place that "worships" beautiful women. So naturally tons of them flock too Vegas. Here is a perfect example of what you might run into in Las Vegas.

The weather was beautiful and it was my day off:> I grabbed the dog and said "were going to the dog park!" When I get there. I always let the dog run around and check things out for me. I will have to post a picture of her. Baby runs up to this one lady and starts "wagging" her tail. She was giving her dog a treat and Baby wanted one. The lady looks down at "Baby" and says "Your so precious" and ask me what her name was? I muttered "Baby". You should have seen this women. She belonged in a Victoria Secrets catalog! Mocha skin, brownish/blonde hair, sculpted body.  She was wearing  a yellow "sun-dress":)))). Whoever invented the "sun dress" THANK YOU!

I had a brief "chit-chat" with her. Her name was Sophia and her mother was German and her father was French.  I didn't ask her what she did for a living? I already had a good idea. For a "split-second" I thought about asking her out. I decided not to. I didn't want to come on to strong. I did however ask her if she came to the dog-park much. She told me every Tuesday & Wednesday afternoon. I will be sure to show up with my "wing-man" baby next Wednesday afternoon.

The moral of the story. If you want to meet a beautiful women in Las Vegas, GET A DOG AND GO TO THE PARK. I hope this answers my friends question? Rob Astle 

Why I love China.

"Your in love with China!"

My Uncle John in KC told me this a few months ago. For the record, I am not totally in love with China, but I do have serious feelings for her:> Why?

1. Economy- It is estimated that China will over take the United States as the world's largest economy by 2027. 

2. Consumerism- For years the Chinese relied on exports as their main economic engine. Due to the "world recession" they were forced to diversify their economy. The shift in the Chinese economy will preach more "consumerism" (spend,spend, spend). 

3. Middle class-China is in the midst of creating an "infrastructure" that will match the United States. They are building highways, bridges, trains, etc. When the recession started the government in China was very fast to respond. China for the most part is still an under-developed country. A majority of the population lives at or near poverty levels. The government is focusing hard on "equal-distribution" of wealth. By doing so, the Chinese can expect to see a huge gain in their "paltry" middle class. Having a solid "middle-class" is the key for sustained economic growth.  China is well on it's way to creating a "new" middle class..(By the year 2020 estimates are saying that 100 million people will be entering the middle-class status in China). 

4. Follow the leader- Walmart, McDonald's, Ford, Google, Wynn. All of  Corporate America is putting an extreme amount of emphasis on the emerging Chinese market. McDonald's is planning on opening 15,000 stores in China over the next 10 years. I just got finished reading an article about the gaming revenues in Macau (Chinese province where a number of Vegas casino's have a presence). Gaming revenue in Las Vegas  has stagnated the last few years. Gaming revenue in Macau is up 60% from last year. Total gaming revenue in Macau has surpassed revenue in Las Vegas!

5. Power in numbers- There are over 1.2 billion citizens of the People's Republic of China. The Chinese population is 3x greater than the that of the United States. Think of it this way "A country of over 1 billion people are preparing to shift their economy into a "consumerism" model. They are going to need something to spend their money on!"

I have a number of Asian friends in Las Vegas. The topic of China and how to get in-front of this consumer "avalanche" is discussed quite frequently. 

Confucius "It does not matter how slowly you go so long as you do not stop"

Rob Astle

Is Las Vegas becoming a ghost town?

During the "go-go" years Las Vegas experienced a tremendous boom in construction. Residential and commercial properties were being built at a "hyper" pace. Without going into a whole lot of detail. The real estate market in Las Vegas has "collapsed". 80% of the people who own houses in Las Vegas are "underwater". This is an example of what a lot of people are facing.

A friend of mine bought a town home in August of 2006. He paid 260k for it. In his community, there are roughly 80 other town homes that all look the same (cookie-cutter). The town home across the street from his sold for 85k cash about four months ago. There are a number of other foreclosures in his community listed for 100-120K. Remember that all of the town homes in this community are the same. If you do the math, my friend is 160k "upside-down" in his property. He has owned the place less than 4 years. I have been in Las Vegas for four years. When I first got to town I almost bought a house. I decided against it. Everyday, I thank my "lucky stars" I did not buy a house in Vegas during the "go-go" years. If I would have? I would be in the same predicament my friend is in. 

Why did I title this post "Is Las Vegas becoming a ghost town?". If you know the streets of Las Vegas as well as I do. You will find them very quiet and extremely interesting. The reason for my analogy?. A majority portion of the properties in Las Vegas are either (1). Foreclosed properties (2). Properties "on the way to foreclosure". A number of people think that Las Vegas is on her way to becoming a "ghost town". I DO NOT believe that. I have stated a number of times that Las Vegas is "resetting". Clearing out all the foreclosures is part of the "resetting" process. 

If you look at the census data, during the "go-go" years, the population of Las Vegas was increasing 30% a year. The latest census numbers show the population growth in Las Vegas is increasing at a very narrow rate (1-2)%. I see a lot of young kids coming to town. (I am 40 years old so I consider young to be 21-31). Las Vegas went from being extremely "over-priced" to "bargain basement". A number of people are starting to take advantage of this situation. I had a friend of mine from Kansas ask me, "What kind of jobs are in Las Vegas?" The answer to that is "two-fold". If you are expecting to find a good job in the construction or gaming industry (Good Luck). These two fields are the ones that are suffering the most. If you are more on the creative side (technology, film, new businesses). Las Vegas could very well be the place for you. Lots of young and creative people are coming to Las Vegas. My predictions for Las Vegas in the future? "Younger with an emphasis on technology and creativity".

The Mayor of Las Vegas

One of my favorite guys in Las Vegas is  mayor "Oscar Goodman". Mayor Goodman is a very interesting character. The mayor is on his third and final term. He is a very colorful person who has been known to have a "gin or two". During the "go-go" days, Mayor Goodman was the biggest cheerleader that Las Vegas had. Nowadays, his tune is a lot more subtle. Every week they broadcast the city meetings on a local channel in Las Vegas. A few months ago they were going over the city budget (Huge shortfall). By the expression on his face you could tell he was very flustered. Someone in the audience said "Mayor you look like you could use a glass of gin?" A remark like that in such a public forum would aggravate most politicians. Not mayor Goodman.  He said something to the effect. "Damn right I could use a glass of gin".

When you live in Las Vegas you see all sorts of different characters. The mayor is no exception. Mayor Goodman was a mob defense lawyer prior to his days in office. He has a cameo spot in the movie "Casino". For the most part, everyone likes the mayor. I don't agree with all his views, but I like some of them. I told my ex-wife that I was going to run for mayor of Las Vegas in twenty years. Who knows? Rob Astle

I gotta "bro" hug from Matt Damon.

A friend of mine in Kansas is always asking me this question. Do you ever see anyone famous in Las Vegas?Not very often, but I have scene a few. I yelled at the "Hoff' (David Hasselhoff). I saw him at Planet Hollywood. I think he had a show running? Anyways, he was walking through the Miracle Mile shops. I yelled at him and he just gave me the wave and moved on. He was cool. I didn't run-up and ask him for an autograph, I am way past that stage. Everyone loves the "Hoff" in some way or another.

I did meet another "Hollywood" type. I was at one of my favorite places in town (Lahaina). Drinking a beer and staring at the scenery. When I heard this guy yell "Yes" at the top of his lungs. It startled me so much that I spilled beer on myself. I looked across the bar and asked the guy "Why are you so happy? He told me that he just got a job in Hollywood. I told him Congrats, one of his buddies than said "Congratulations Matt".

I took a second look, it was Matt Damon. When I realized who it was, I told myself that I gotta buy this guy a drink. I ordered two shots of Jameson's. About five minutes go by and he looks up and says "Who bought this round". I told him "Congrats" on his job. He said "Thanks man, I appreciate it". That is when I knew he was cool. Even a guy at the "pinnacle" of his career is still excited about getting a job. I thought what the hell? I gotta try an introduce myself.,  I yelled "Heah Matt" as he was leaving. He then turned around and gave me that wide smile that you always see in his pictures.  I then yelled "Come over here for a second". He walked  over and I introduced myself. I told him "Congrats" on his job, again. I also told him this "I don't give a f%$ what people say about this town, the streets are paved with gold!". He just nodded. I went to shake his hand and he said "come here". He gave me a "bro" hug. Anyways it turns out the "job" that he was so excited about (Happy Feets 2). Brad Pitt and him both signed on to do "Voice Work".

"Viva" Las Vegas.

The old way in Las Vegas just isn't going to "cut it" anymore. Las Vegas has to some how figure out how to diversify it's economy. Everyone knows that gaming is the "big dog" in Las Vegas. It is not the only dog. I see a lot of cool businesses in Las Vegas. I am starting to see a few businesses "pop-up". Las Vegas has an over-abundance of three things 1.commercial/residential properties 2. Sunshine 3. Women. You can get all sorts of lease deals in this town. Deals where the tenant has a lot more leverage than the landlord.. I have been spending a lot of time looking at businesses in  Las Vegas. For anyone who wants to check out a local place or two

Scooter's- It opened about three months ago. Sports bar/restaurant. The owners are a couple of 20 somethings. Very nice guys. The food is pretty good. Machines at the bar. Flat screens everywhere you turn. The best thing about Scooter's is the scenery. They are located at Rainbow & 215, ten minutes from the strip.

Lahaina Grill- When I walked into this place I realized I wasn't in Kansas anymore.Sushi and cocktails. It is a wonderful place to take a date. You have everything you could ask for and then throw on all the scenery. Highly recommended. Located at Flamingo and Tropicana. 15 minutes from the strip.

Noodles- This place is a lot different than the first two. It is located in "Chinatown". Small local diner. . If you like authentic Chinese food at  affordable prices, this would be a good place for you. The "Chinatown" area of Las Vegas is a very interesting place. There are over 200, 000 Asians in Las Vegas. Noodles is one of my favorite place to "hang-out" in Las Vegas. It is not the scenery that is the main attraction at Noodles. This place has an atmosphere that reminds me of a lot of "home-town" cafes in  Kansas.

If someone has any questions about Las Vegas or Kansas. There is a good chance that I might be able to give them some "pointers". It is nice to see the Chief's doing well. "All I really want out of life is to see the Chiefs win the Super Bowl in my lifetime." Rob Astle

3 good reasons to like Las Vegas

If you listen to the news a lot? The new's media has been unkind to Vegas. I am the first to admit that things could be better for my "Baby". That is life and she will have to find a way to deal with it. I believe the benefits of Las Vegas far outweigh the negatives. I just want to share with people some of the benefits Las Vegas has to offer. 

Weather- The summers really can be brutal in Vegas. After a while you get used to them.  I stay indoors or jump in a swimming pool. Managing the summers is pretty easy compared to some of the weather in the mid-west. I have not worn a heavy jacket in Las Vegas..Ever...Golfing and hiking year round. I have not seen one snowflake in Vegas. 

Women-  The women in Las Vegas are incredible. "It's like a whole different planet". The women are very "exotic". Brazilians, Asians, Italians, Spanish ( big mix). That is one thing you will never see in the mid-west. Don't get me wrong there are plenty of beautiful women in the mid-west. Las Vegas just has more than its "fair share". There are plenty of "hunks" as well. 

Opportunities- Vegas is in a "resetting" stage. I am some what of a "history buff", History  has always told us that when things "reset" new ideas come to forefront. Las Vegas is full of new ideas! No state income tax. Affordable housing, pro-business government. She could be a very good "breeding ground" for a new idea or business? 

I just gave everyone three good reasons to like Las Vegas. I almost forgot about the strip?> Make that four good reasons to like Las Vegas.
Rob Astle

Bring the Mob back to Las Vegas

"I remember when the Mob used to run this town, things were so much better"

I hear this phrase quite a bit. Ask any old-timer what Vegas was like before the corporate structure took over. The answer is always the same. "Everything was better when the Mob ran the town". The Mob sold out Las Vegas a long time ago. The money being offered by the corporate machine was to much for them to resist. Could the Mob be making its way back to Vegas? I have a few theories that I deem very unlikely but certainly plausible.

1. A number of these casino's are buried in massive debt. They were leveraged to their "eyeballs" during the go-go days and were poorly prepared for the crash. Sooner or later they are going to have to be sold-off to the highest bidder. Who better to take over a "joint" then the Mob? 

2. A lot of people think that "black market" money hitting the "free market" would be the most sensible way for our nation's economy to recover. "Legalize it and tax it". The Gaming Control Board is in charge of over-site in Nevada. I am sure that with a little "arm-twisting" (just a pun) they could be convinced to look the other way. No question that the revenue needs to hit. After all, "cash is king".

3. This is my favorite analogy of the situation. I was at my friends house and his teen age daughter was wearing bell-bottoms. I told her that bell-bottoms were before my time. She looked like she was getting ready to go to a "70's themed" party. She made one prophetic statement that I will never forget. "Everything is retro". The Mob having an influence in Vegas again would certainly qualify as "retro". 

In all honesty I would not be totally shocked if the Mob gained a foothold in Vegas. They will never have the power or control that they once had. Vegas is to big for one outfit to control. In the next five years  a number of casino's will have to be sold to "independent operators". Maybe the Mob might be one of them?  Rob Astle

The Operation G-string

Hello everyone. My name is Rob Astle. First thing first, please don't let the name of this blog confuse you. Operation G-string is not about a bunch of lovely women strutting around half naked. My goal is to let everyone know what I am seeing, feeling, and thinking. I live in Las Vegas so most of what I will be blogging about will have to do with the happenings in this "interesting" town. I will be the first to admit that I did not come up with the "Operation G-string" title. A few years ago some local council members were convicted of taking bribes and kickbacks from a strip club owner. The owner wanted to build the world's finest strip club and was having problems with zoning. Without going into a whole lot of detail. the FBI nailed everyone involved, the strip club was never built and the local press deemed it "Operation G-String".

It is old news and I didn't have a thing to do with it. The name just stuck in my head. I ran through a list of names on what I should call this blog. "Operation G-string" would not go away. The name matches the town well.

Whomever chooses to read this blog can expect a few things from me. 1. Informative- I will do my best to give everyone a street level view of what its like to live in Las Vegas. 2. Humorous- I don't like to focus on the bad things. There are way to many people doing that. I will try to keep the focus on light-hearted material.  The goal is to "showcase" Las Vegas not be critical of her. 3. Opportunities- I have always believed that your best "opps" appear when things are changing. People from the Midwest always ask me what Las Vegas is really like. I give them all the same answer. "It's resetting". I am going to share a few ideas with people about what I think might be relevant in the future. I have been wanting to do a blog on Vegas for quite some time. I just wasn't quite sure how to do it. I think I have finally figured it out..I hope everyone is having a wonderful fall.. Stay tuned I will have my first official blog soon..Rob