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The Macau gaming market was about $45 billion when the stock price was that high, and today its about $30 billion, said John DeCree, head of equity research at Union Gaming Group. Still, visitor and gaming revenue growth is expected to accelerate beginning in 2019 as Macau rolls out several large infrastructure programs, including a light rail transit system and the Hong Kong Zhuhai Macau bridge. The projects are expected to alleviate congested traffic, making it easier for more visitors to enter Macau, said Mr. Wasiolek. The Asian countrys recent move to legalize gambling could be a potential windfall for Wynn if it gets one of Japans gaming licenses, although it will likely be several years before this plays out. It will likely be 2021, at the earliest, before a new resort opens its doors in Japan, said Mr, DeCree.
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Shows such as NBCs The Blacklist and ABCs Modern Family now use a mobile app called Sync OnSet to store photos of props, costumes and sets that production managers had once stashed into three ring binders. As its customer base grew to more than 100 productions, Wymsee Inc. moved some of its staff from Boston to the WeWork shared workspace in Hollywood because this remains home base for entertainment, co founder Alex LoVerde said. A few years ago, a Wymsee or Tyffon would have found itself stonewalled in Hollywood. Kevin Yorn, an entertainment attorney whose clients include Ellen DeGeneres and Matthew McConaughey, remembers his firm holding a 2007 gathering of about 40 celebrities, media executives, Silicon Valley venture capitalists and technologists. Marc Andreessen, a deep pocketed investor from the Silicon Valley, declared that Hollywood had to shape up and give in to what upstarts wanted, Yorn recalled. Miffed, the entertainment industry sat back until its peers in technology realized people in Hollywood have secret ingredients storytelling and large social bases that can help propel a start up, Yorn said. Transportation service Uber probably would have ridden to success without ferrying celebrities to red carpet events. And someone other than Jessica Alba may have been able to start lifestyle and cleaning products brand Honest Co. and turn it into a near $1 billion company. But the stars elevated the brands in the minds of consumers and the media and accelerated their progress, according to investors.
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It was known as the 360 degree review based on the values of Enronrespect, integrity, communication and excellence RICE. However, associates came to feel that the only real performance measure was the amount of profits they could produce. In order to achieve top ratings, everyone in the organization became instantly motivated to do deals and post earnings. Employees were regularly rated on a scale of 1 to 5, with 5s usually being fired within six months. The lower an employees PRC score, the closer he or she got to Skilling, and the higher the score, the closer he or she got to being shown the door. Skillings division was known for replacing up to 15% of its workforce every year. Fierce internal competition prevailed and immediate gratification was prized above long term potential. Paranoia flourished and trading contracts began to contain highly restrictive confidentiality clauses. Secrecy became the order of the day for many of the companys trading contracts, as well as its disclosures. Coincidentally, but not inconsequentially, the U. S.
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