Betting the House

With a gold mine to prtect, Wynn has led Vegas in a swing to the right–away from Clinton’s proposed gambing tax

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Steve Wynn: 54, Las Vegas, Nev. $54,000. Party: R

Steve Wynn was just another ambitious young casino executive, running the Golden Nugget in Las Vegas, when he hooked up with junk-bond king Michael Milken in the late 1970s. The financial community had avoided Vegas for decades because of its mafia ties, but Milken drove his firm, Drexel Burnham Lambert, right into the middle of it. Wynn and Milken shared a strong belief in family values: It was Wynn’s Mirage Resorts (financing: Milken) that pioneered the casino-as-family-vacation theme.

Other events in Wynn’s life are reminiscent of Martin Scorsese’s Casino. First, one of his vice presidents was discovered meeting with organized crime leaders in New York. (This didn’t keep Wynn from returning to the East Coast with a failed bid to build a huge casino in Bridgeport, Conn.) In the interval, Wynn’s daughter was kidnapped. After Wynn paid the $1.45 million ransom, she was returned.

President Clinton has promoted a 4 percent federal gambling tax and floated the idea for a federal commission to study the effects of gambling on society. For these reasons, the gambling community–traditionally supportive of Democrats–has swung to the right. Wynn led the charge, raising $500,000 last summer at a Dole fundraiser. And he has an entire state rolling the dice behind him: A study by New Hampshire Citizen Action shows that Nevada residents have donated $398,615 to the Dole campaign–roughly eight times more than New Hampshire, a state with about the same population and site of the first presidential primary.

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In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

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Fact:

In-depth journalism that investigates the powerful takes real money and is so damn important right now.But it doesn’t take a Mother Jones investigation to know that billionaires and corporations will never fund the type of reporting (like they do politicians) we do that exists to help bring about change. Instead, our mission-driven journalism is made possible by people power, and has been for 46 years now since our founding as a non-profit.

In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

$400,000 to go!

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