Will be interesting to see what this is all about ...
"King of Las Vegas" Aims to Revolutionize Gambling
Boccardi says Internet gambling is the gold mine of the future
by Chuck Greene, WINNERonline.com
10 May 2001
After two failed attempts at purchasing casinos on the Las Vegas Strip, Italian entrepreneur Fabrizio Boccardi (pictured here with singer Enrique Iglesias) is getting closer to unveiling his much-hyped Genesis Gaming concept and becoming the self-proclaimed "King of Las Vegas".
Last year Boccardi offered 200 million cash to buy the legendary Desert Inn, which was later purchased by casino magnate Steve Wynn. Boccardi also tried and failed to acquire the New Frontier in 1999.
Now Boccardi and his Las Vegas-based investment company, Boccardi Capital Systems, have targeted a new, as-yet-undisclosed property for acquisition and the launch of Genesis Gaming.
"People come to Las Vegas to see something different, extreme," said Boccardi. "Who wants to go to Las Vegas to stay in a Marriot or Hyatt or Hilton?"
Boccardi says Genesis Gaming will be "bigger" and "more colorful" than the current Las Vegas casino gaming experience. Exactly what that means is anyone's guess. Boccardi wouldn't reveal his plans except to say that he is close to purchasing an existing property on the Las Vegas Strip.
He also says Genesis Gaming will target a younger demographic, specifically the 21 to 55 crowd. "Not kids. Gambling is about greed and lust," said Boccardi. "Sin City is for adults."
A report in the Las Vegas Review-Journal indicated that Boccardi's new concept is a megaresort that ties together entertainment, computers and the Internet.
One thing is certain, if you believe Boccardi, it won't be boring.
"Right now, Las Vegas casinos are like watching a Charlie Chaplin movie: no sound, no color. Genesis Gaming will bring color, music and excitement to the casino experience, appealing to people that don't even like to gamble," Boccardi said.
It's unclear how the Internet and online gambling could figure into Boccardi's plans.
"Internet gambling is the gold mine of the future," said Boccardi, "but Vegas is the Mecca." Expect Boccardi to first establish a Las Vegas presence before exploring Internet gambling options.
At 32, Boccardi isn't the first young entrepreneur to try to take on Las Vegas. Steve Wynn was in his twenties when he invested in the Frontier Hotel in 1967.
Boccardi admires Wynn and reverently describes him as "a very capable man… very close to being a genius."
Boccardi clearly expects to take over where Wynn and billionaire casino investor Kirk Kerkorian, now in his eighties, leave off.
"People are stuck with the old formula. I heard they are thinking of doing a new casino around a London theme. There's already Paris, New York. Is that the best idea they have? I can think of ten cities right now," Boccardi quipped.
Boccardi believes his ideas will revolutionize Las Vegas. But like any good gambler, Boccardi hedges his bets. "Maybe I'm the big retard."
Time will tell. But the smart money is on Boccardi. |
