‘What do you have there?’
‘A proposal for the casino project. I’ve done some initial projections, and to cut to the chase, getting blackballed in Vegas might be a blessing in disguise. Nothing is cheap in Vegas at the best of times and construction costs here are insane. I’m projecting one point five billion US – and that’s conservative.’
‘Jesus,’ said Miles. Even for a company of the size of Ash Corp., that was an enormous investment, more so when you considered they were putting all their eggs in one basket. But Miles hated being told ‘no’ and he hated being blackballed even more. He looked at Marshall. ‘Tell me about this fancy footwork of yours.’
Marshall paused for a moment. ‘My gut feeling is we’re banging our heads against a brick wall with the commission. Plus, none of the existing casinos are going to approve of us building a rival right next door to them, especially with the Wynn just opening.’
‘Agreed. So what do we do?’
‘It’s a little left field, but I think it can work. We already have a hotel in Vegas – we remodel that.’
The Las Vegas James hotel was part of an old low-end Ash Corp. hotel chain, more of a motel-cum-flophouse jammed between the Stardust and the Frontier, two of the more run-down casinos at the north end of the Vegas Strip, away from all the glitz and glamour of the newer casinos such as the Bellagio and the Luxor to the south. Miles pulled a face.
‘The James hotel is a stinker, Michael. It’s in the wrong part of town. We can’t even get the fifty-dollar-a-night slot machine crowd in there.’
‘That’s where the left-field idea comes in,’ said the lawyer. ‘We forget the casino and concentrate on the hotel. Do what you do b
est, high-end luxury. Make it exclusive and hard to get in.’
‘But we’re missing the point of the exercise,’ said Miles. ‘The money is in the gamblers. The casino can make a million dollars on one spin of the wheel.’
‘And you can lose it too,’ said Marshall. ‘OK, so a hotel isn’t going to make that sort of money, but we have the space for a six-hundred room all-suite hotel, and if we establish it as the place to stay on the Strip ...’
‘But why would the high-rollers stay so far from the action?’
‘That’s your job, Miles. No one is better at persuading people that your establishment is the only place to be.’
Miles nodded. ‘OK, but even so, it’s still a wasteland up there.’
Marshall smiled. ‘The big guns are moving north, they have to. Trump is looking in the north end and Wynn’s already there. If those guys are there, it’s on the money. Plus there’s even talk of a huge retail park.’
‘How do you know?’
Marshall shrugged modestly. ‘I’ve seen some development plans, heard a few rumours. It’s my job, Miles. It’s one of the things you pay me for.’
He pushed forward another document. It was a set of drawings of how the remodelled hotel could look. It looked great – chic, tasteful, relaxed, everything Vegas was not. Miles raised an eyebrow at the name above the door.
‘Vegas Laing?’ he said.
‘The brand is already established,’ said Marshall. ‘It says European, exclusive, stylish, all the things you stand for, Miles. It says quiet money.’
Miles laughed. ‘Quiet money. Two words to sum up Vegas.’
Marshall nodded.‘People like to flash their wealth in Vegas, that’s true, but that will change if the economy takes a downturn. And the real high-rollers prefer staying under the radar.’
Miles turned the pages of the document and found more drawings of a much bigger development. ‘And what’s this?’
‘This is the future,’ said Marshall, walking around the desk. He pointed to a sketch of a high-rise building. ‘This is phase two. Once we’re established on the Strip, we stand a much better chance of getting past the gaming commission to build a proper casino resort. Even if we don’t get permission to build a casino at the Laing, we could build off the Strip where the land is cheaper.’
Miles traced a finger over the plans, enjoying having Michael standing so close to him. ‘Is there room?’
‘It’s a deceptively big plot,’ said Marshall, ‘but the rumour I hear is that the Stardust and Frontier are leaking money. One or both could go under in the next six months. If that’s the case, we could either demolish them or absorb them into the Laing.’
Miles looked up. ‘My word, Mr Marshall,’ he smiled, ‘you are full of surprises today.’
‘As I say, that’s what you pay me for,’ said Marshall, gathering up his files. As he walked back around the desk, Miles took in his lean physique.
‘Well perhaps we’d better think about giving you a raise,’ he said.