Five-star narrative cheapened by gratuitous slams of Sheldon Adelson

books:

	• Winner Takes All: Steve Wynn, Kirk Kerkorian, Gary Loveman, and the Race to Own Las Vegas Christina Binkley Hyperion, 2008 - 320 pages average customer review:based on 17 reviews view larger image
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highly recommended

Five-star narrative cheapened by gratuitous slams of Sheldon Adelson

The Wlass="textlinks">all Street Journal reporter Christina Binkley was that paper's lead reporter in Las Vegas for 10 years. In "Winner Takes All" she pulls together that experience - both the knowledge and her contacts - and delivers a compelling, enthralling narrative of Vegas' transformation over that period.

The book's sub-title says "Steve Wynn, Kirk Kerkorian, Gary Loveman and the Race to Own Las Vegas." Binkley posits that a series of mega-deals have apportioned Vegas into three controlling companies: MGM Mirage (headed by Kirkorian); Wynn (Steve Wynn's eponymous new post-Mirage venture); and Harrah's (helmed by ex-Harvard prof Loveman). Binkley appears to have had little access to Kerkorian, (no one does, but read Bill Vlasic's classic Taken for a Ride: How Daimler-Benz Drove Off With Chrysler for a better peek at him) but ample access to his lieutenants. She obviously had developed a cordial relationship with Loveman. What stands out is her relationship with Wynn and wife Elaine. It's extensive, to say the least. She's clearly enchanted with the guy.

In fact, that relationship leads me to my major problem with the book - it simply lacks credibility to leave Sheldon Adelson - Chairman and CEO of Las Vegas Sand Corporation (Venetian, Sands Convention Center, Palazzo) - out of the story. He, as much as anyone, set the pace for Vegas during Binkley's years of coverage. And, he made the leap to Macao ahead of any of his Vegas peers. It's blatantly obvious from the text that Ms. Binkley has a history with Adelson. Yes, he's famously dyspeptic and probably has little use for her. But Adelson has also feuded publicly and nastily with Steve Wynn. Wynn uses Binkley here quite transparently to take a number of gratuitous slams at Adelson. She's little more than a water-carrier in that regard. That's sad because it detracts from the overall excellence of the book in a very distracting way.

A tale of the tape:

p. 89 - Adelson described as a "would-be mogul" who "irked Wynn"

p. 93 - Adelson is "warring with Wynn"

p. 209 - Adelson described as Wynn's "nemesis and neighbor"

p. 250 - The "eccentric" Adelson takes Sands public and is "catapulted from obscurity to number 19 on the Forbes 400" (Hello?? COMDEX, anyone? This guy was hardly obscure pre-Sands; his success was far from the luck and accident implied here).

p. 271 - 272 - Wynn takes a moment to "pity" Adelson...'It's too bad he's not in better health and able to enjoy it more. He's in a wheelchair.' That's cold, man.

p. 276 - "Loveman lost the Singapore bid to Sheldon Adelson." Adelson didn't win it, right? Loveman lost it. It's like Adelson and team had no role and won by default. Hardly.

I've not cherry-picked the negative references - those are the ONLY references! Juvenile stuff. What a shame.

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Vegas, baby, Vegas!

Binkley presents an insightful and lively account of some of the players who operate in a world where nothing succeeds like excess. It is a world that the author knows well from her years of having covered the industry as a Wlass="textlinks">all Street Journal reporter, but, despite being granted unprecedented access to Las Vegas' movers and shakers, she remains a detached observer. From backroom deal-making to outsized egos to glitzy spectaculars, Binkley covers it all with a sprightly writing style, providing insights into what makes men like Steve Wynn, Kirk Kerkorian, and Gary Loveman tick.

It was a world I knew nothing about other than a few business trips to Las Vegas, but I found the book highly entertaining and learned a lot about how about how three very different visionaries plotted a path to success. I will enjoy my next business trip to Sin City much more having read this book. I recommend it highly.

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Fascinating!

A great summation of the last 15 years of Las Vegas, the influences that made it what it is, and the big personalities that rule the land. One negative comment I have is the movie is really two stories in one, Wynn/Kerkorian their deal and influence, and how Loveman/Harrahs elbowed its way from a smalltime operator to major player.

The majority of the book is about Wynn and his influence in Las Vegas and how it developed from the Mirage to the Bellagio to the Wynn. And of course the big occurrence is the buyout of Wynn's operation by Kerkorian when he senses the stock weakness caused by Wynn's lack of management skills. A very fascinating story!

After completing the acquisition the book slows down somewhat as it tells the tale of middle market Harrah's and how it busts into the big time by acquiring Ceasar's. This book explores the mathematical focus at Harrah's and how it increases profitablity. While it's interesting reading how a glorified math professor rises to casino president while retaining his old lifestyle, this section is the least interesting at least for me.

In summary this is a fascinating read of a fascinating city. Just a walk down the strip let's anyone see every part of American culture good and bad as Las Vegas is the mecca of most Americans at some point in their lives.

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Highly enjoyable, and filled with interesting tidbits

I'm sure I'll see Las Vegas in a different light after reading this book. You can't help but be fascinated by these larger-than-life characters. Steve Wynn is without a doubt the most interesting character in the book, but viewing the city as a competition between titans is something I've never really comprehended on trips to the Strip before. It's a great easy read, with lots of interesting facts. I agree with some reviewers who had problems following the (hazy) timeline, but it didn't diminish from the overall enjoyment.

Fascinating read for anyone who has visited Las Vegas

I just visited Las Vegas and loved it, it was much better than I expected it to be after having toured all around Europe! I bought this book at the airport book store in Vegas as the assistant said that was the book everyone had been asking after. It was a fascinating and entertaining read, with particularly inside information on how Steve Wynn approaches business and also how it contrasts with that of Kirk Kerkorian and Gary Loveman at Harrahs.

I couldn't put it down and recommend it to anyone who has visited Las Vegas and is wondering how it go to be the town that it is today.

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reviews: page 1, 2, 3, 4

Wlass="textlinks">all Street Journal columnist Christina Binkley takes an up-close-and-personal look at how Steve Wynn, Kirk Kerkorian, and Dr. Gary Loveman are building a bigger and better Las Vegas and how their influence is spreading beyond the city's borders.

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