Sunday, April 1, 2007 | 7:35 a.m.
It's time for George Maloof to decide what comes next.
I met with the Palms owner last week for a 90-minute interview at his hip Flamingo Road property, and Maloof said that while the hotel's new Fantasy Tower was under construction he had little time to consider new opportunities.
That doesn't mean he hasn't fielded a number of pitches.
"In the past year I've had more people interested in buying this property than you would believe," Maloof said from a comfortable seat in his second-floor office.
"But I just don't think about selling. I sold the Fiesta before, and it's tough to sell a business. It's less about not wanting to sell what we've built here than it is about the business, the people and the brand we've created. It's hard to build a brand, and the Palms is an amazing brand."
When I asked him about his next move, he said he's trying to figure out what makes the most sense.
Although he wants to do something with his Palms brand, and acknowledges that he's thought about taking the brand to Atlantic City and Northern Nevada, Maloof says Las Vegas remains the most intriguing market, despite the high cost of Strip-area real estate.
"I like Las Vegas," Maloof said. "If there's a top of the list (of opportunities), it's Las Vegas. What's great about Las Vegas is it's a fluid place. There are always opportunities, new things all the time. The strategy is to keep in the game."
Freshman Assembly member Bob Beers, R-Henderson (not Sen. Bob Beers, R-Las Vegas, who last year lost his Republican primary bid for governor), told me he thinks his Assembly Bill 357 has a better-than-even chance of getting enacted into law. The bill would prohibit employers from exercising any control over the collection, counting or distribution of tips, a response, Beers said, to constituent concerns about the seven-month-old Wynn Las Vegas practice of including front-line supervisors in the casino tip pool.
Beers says the bill has a good chance of passing the Assembly but faces a more uncertain future in the Senate. He's hopeful he can persuade Gov. Jim Gibbons to sign the bill if it passes.
But with business lobbyists lining up against the bill, I think Beers is much too optimistic. I think the bill has less than a 50-50 chance of passing his committee, almost no chance to pass the Assembly and about zero chance of passing the Senate. And Gibbons wouldn't sign the bill if it passed.
Yet Beers told me he's not afraid of uphill battles.
"I was raised to do what's right," Beers said. "When I was about 8 years old, a bully in the neighborhood, about a foot taller and a lot heavier, was picking on a kid. I closed my eyes and took a swing, and when I opened my eyes, I was on top of him."
Beers says that he has yet to feel bullied by the opponents, and that no one from Wynn Resorts has talked to him about his bill.
But colleagues, he says, act as if they've been bullied, with several telling him they secretly support him. "Sometimes I feel like I'm 'Mr. Smith goes to Washington,' but in Carson City."
One of the best folks in the casino business resigned from his position last week.
Glenn Christenson, until Friday Station Casinos' chief financial officer, is taking some time (and an armored car full of cash) to decide what he wants to do next in life, a future that he told me could include working for another company or starting his own business. He'll undoubtedly continue working with the many civic and charitable organizations he supports.
He's leaving on his own terms. He told Station Chief Executive Frank Fertitta III of his decision two weeks ago, and said he has nothing but the best memories of his 17-plus years with the locals casino giant.
"They've been phenomenal to me," Christenson said.
I owe Glenn a particular debt of gratitude. When I was learning the ropes of the casino business, he took a lot of time to educate me about the financial side of the business, whether or not the issue concerned Station.
He's a great guy, and has been an integral part of Station's incredible success.
Although Glenn will definitely be missed, I am confident he'll be back soon, and successful at whatever venture he chooses.
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