Jeff Simpson looks at some likely Christmas wishes

Sunday, Dec. 23, 2007 | 6:54 a.m.

With two days left until Christmas, I thought I'd take the seasonal opportunity to hazard some guesses about what some Las Vegas business executives might want to find under their trees, figuratively speaking.

North Pole postal inspectors can rest easy - I haven't intercepted letters to Santa Claus.

One executive might actually want coal in his stocking.

Sierra Pacific Resources CEO Michael Yackira must be wishing that Senate Majority Leader Harry Reid wasn't so strongly opposed to the utility company's plans to build a "clean coal" power plant in White Pine County.

That's a wish that's unlikely to come true.

Most top Realtors would like buyers to return to the market.

Of course, that would take sellers accepting the reality that their homes aren't worth as much as they once thought, and buyers believing that now is a great time to buy a home at an attractive price.

Unfortunately for Realtors, I think they may have to wait awhile, at least until next Christmas.

For the top brass at the local chambers of commerce, they must be wishing that the gaming tax initiatives would go away.

With resort operators using the state's current fiscal crisis and gaming-tax initiatives to trumpet a broad-based business tax as a solution to the surpluses and shortfalls that accompany Nevada's sales- and gaming-tax-funded government, the chambers are in a box.

In the past, most recently in 2003, the chambers sided with the majority of their members, who want to avoid new taxes, raising the ire of big gaming.

If the economy stays sluggish and the Palazzo opening doesn't kick-start tax revenue, look for the chambers to find themselves in a similar pickle as the 2009 Legislature approaches.

As for the gaming tax initiatives themselves, gaming executives wish the public would realize that the total taxes paid by casino resorts, including gaming, sales, room, payroll and live entertainment taxes, fund about half of the state budget.

And that low gaming tax rates fuel unrivaled investment.

Sorry, gamers. Both those things are true, but even if gaming launches an unprecedented educational campaign, I find it hard to believe that the public will be swayed.

So the gaming operators had better wish for excellent legal advice - or sympathetic judges - to keep the initiatives off the ballot.

Taxes aside, MGM Mirage's Terry Lanni already has a mighty full stocking.

In fact, you could almost make a "12 Days of Christmas" parody about his embarrassment of riches, including 10 thriving Las Vegas megaresorts, cash-rich investors and partners pursuing joint ventures, the Strip's biggest project in City Center and a brand-new casino in Macau.

If there's one thing Lanni is looking for in the not-too-distant future, it's New Jersey gaming regulatory approval of MGM Mirage's Macau partnership with Pansy Ho.

If New Jersey approves the relationship, the company can keep its half-stake in Atlantic City's best resort, Borgata, and follow through on its plan to develop a CityCenter-type resort next door to Borgata (a plan I've code-named "The Carrot" because it seems a pretty strong incentive for Garden Staters to keep MGM Mirage happy).

If New Jersey doesn't OK the MGM-Ho partnership, the company almost certainly will sell its half-stake in Borgata to its partner, Boyd Gaming Corp., and keep its potential Macau gold mine.

Boyd Gaming Chairman Bill Boyd is too nice a guy to actually wish such bad fortune on his partner, so I doubt he'd make the opportunity to buy MGM's Borgata stake his wish.

My hunch is that Boyd wants to spend more time with his family as he begins to enjoy life after relinquishing day-to-day control of his company to CEO Keith Smith.

My hope for readers is that you will also be able spend more time with your families.

I wish you good health, good friends and an enjoyable holiday season.

Merry Christmas!

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