chairman and ceo steve wynn on the call defending his latest bet on china, the wynn palace casino stoat wynn is saying he's not the only one who is optimistic about growth in china. >> yesterday, i talked to bob iger, the chairman who is a friend of mine, and a chairman of disney, as you all know and bob and i were talking. he's hoping in we're thinking of 8/8, sort of lick numbers, and his view of van and ours are the same. we're very up and positive about the long side in china and you have to have patience and perspective to get through the short term. wynn is on the call walking investors through his vision and plan for las vegas and boston saying it's the first time in 40 years they have sought to bring investors into this kind of thing and oaks vagss that go on in the board room. shares are up about 2.4% after hours. melissa? >> thanks, seema mody. >> and that conference call is always entertaining and sometimes you hear his dog in the background and sometimes you get curse words, always very colorful. you mentioned though his purchase though of stock. when was it? >> 2 million sh

. >> at the center of the wheel, the name steve wynn. as in the casino magnate, who sold this megamachine for over $3 million, more than double what wynn bought it for new. todd paid even more to a third party broker who handled the deal. exactly how much? >> i would rather not say. >> he would rather not say, but rosenthal was offering that car originally purchased for $1.4 million for $5 million. and, yes, he recently sold it for an undisclosed price. so you see how smart steve wynn was here, bought this for 1.4, sold it for more than 3, and this guy sold it probably around $5 million. just shows you how much demand and wealth is out there for this car. amazing. >> that's crazy. so do all people who own ferraris call them le ferrari? >> no, the le ferrari is that specific model. >> did you get a comment from bernie sanders on this trade? >> a car for the masses. >> like an ipo, they should question the underwriters who bought it for 1.4. >> for race, which is the publicly traded stock, what -- it is down 13% sglch. >> this is a differe

another person i was here, steve wynn, the casino magnate.e helps connect trump with people in washington. i said, who put you in touch with trump? he said, steve wynn. he has friends who are trying to connect with them. charlie: they were very competitive in atlantic city. and a little bit in las vegas. to trump i have spoken , this is ationship trait of trump year after year. he loves to fight, he tests people and how they respond to his combative nature. if they can get over that, he often becomes friends with them. he said in the interview, he said to woodward, after this fight is over, watch, i will become friends with cruz, maybe not jeb bush. charlie: roger stone has what influence? bob: this is a great story about how trump operates. truth was getting uneasy and a plane to possibly resign in step down. he was not comfortable with lewandowski's lysing role. -- rising role. he was want to be the right-hand man for the campaign and he saw his influence waning. he did not like that trump was not listening on policy, stone was writing all

the fact steve wynn purchased over $100 million of shares in his company on the open market in recent months is part and parcel to return to growth thesis. let's hope that the chinese didn't like the sands macau and went every else to lose money at the tables. if there is a problem with macau overall, we better pray because the chinese communist government is cracking down on gambling. here's the bottom line. many savvy investors will associate the decline in oil we got today and sell-off in minerals in mining we saw, and the wolfe macau story told by las vegas sands, and they'll conclude that the bulls have gotten ahead of themselves. doesn't that feel like it's happened? i'm not saying it's necessarily the case here, but it's something you need to be aware of. let's go to bob in connecticut. >> caller: hi, jim, how are you? >> all right. how are you? >> caller: good. what are your thoughts for expedia's earnings next week? what are your thoughts for its long term prospects? >> i think expedia made an acquisition this home away, and i think it's going to be good for them. the acquisi

even complimented steve wynn's ability to put on a show.he marina based sands, blaming a strong dollar, but sands highlighted their 34% increase of visitation from china year over year. adeleson joked about the possibility of maybe negotiating in singapore, to sell when allowed, maybe mall assets there. the joke was, quote, trump isn't the only good negotiator. finally, melissa, what about las vegas? las vegas sands, not one question on the call about las vegas. revenues came a little lighter than expected there. though revenue per available room was up 10% year over year. back to you. >> jane wells, thank you. lots of good humor in the conference calls to keep things lively. we've got axp and qualcomm. >> look at qualcomm tomorrow. the bad news, just like intel had, we'll see if it starts to trade higher. i think tomorrow morning, or tomorrow by noon, you start to see it trade a little bit higher for a trade. >> what happens if -- >> well, this is just for a trade. >> oh. >> i think a name like las vegas sands we have to take into account,

>> mgm, wynn. >> pinnacle. >> and i bought mgm today. i owned steve. period of time. and i like that because of the bottoming out of mcau and the new plants. he's putting 4.2 billion u.s. dollars into a hotel that will happen in the next 90 days and building one up in boston better known as the boston harbor hotel and that is an underexploited market leading you to have significant increases and there's background noise with regard to the ownership of the stock. but that's showbiz. >> do you buy a lot of pinnacle? >> you can't. it's hard. the stock has a market cap of $900 million and the spin offs so at a $9 stock there's 100 million shares. they have about a billion six and interesting cash flows. we also own churchill downs and that's coming up in three weeks and that's a different issue and it's e-gaming and online gambling are two new dynamics that would be extraordinarily attractive in the next ten years and hopefully madison square gardens gets into the not gambling but gaming business where individuals will go and you'll have the legends and pl

. >> you could be the curator, steve wynn, it's like the best job in the world. i love steve wynn. spend some time in philadelphia. >> we've got the opening bell coming up after this. mary buys a little lamb. one of millions of orders on this company's servers. accessible by thousands of suppliers and employees globally. but with cyber threats on the rise, mary's data could be under attack. with the help of the at&t network, a network that senses and mitigates cyber threats, their critical data is safer than ever. giving them the agility to be open & secure. because no one knows & like at&t. ♪jake reese, "day to feel alive"♪ ♪jake reese, "day to feel alive"♪ ♪jake reese, "day to feel alive"♪ >>> you're watching cnbc's "squawk on the street" live from the financial capital of the world. the opening bell in about a minute on this thursday, where a lot of people are watching forex. the yen continues to test over there. meanwhile, stateside, a lot of news in retail, whether it's costco with a 1% comp, lb spl splitting into a few different units. >> first of all, i thought the costco, m

steve wynn is a hero of mine, so, he's basically not going to sit there and say you downgrade my stockyou. the chinese communist party, we all know behind the scenes is letting up on some of the crackdowns. >> maybe a little bit. >> they are. >> but you look at number bree's numbers, high-end, relies on china. they were not great. >> i think johnnie walker blue, those are things you give when you want to get by, part of the gift-giving process in china. >> yeah. >> you're still not there yet, huh? >> i think many people will tell you when you speak to people who study these things, xi has more power than any premier since mao. >> that's true. totally true. more than deng xiaoping? >> yeah. i'm no expert, but i try to talk to some of them. >> holy cow! wow. >> and he, you know, lawlessness was rampant in china prior to his taking over. >> it was. but the state-owned companies, they have not been able to get them to rein in. >> no. >> that's what i'm saying, they still can't rein in the state-owned companies, now that they're now -- mao, huh? wow. deng xiaoping was a very powerful guy. >

steve, wynn making a lot of people-- unfortunate comments about poor people. . ashley: he told a group of investors and said basically nobody likes being around poor people. poor people don't like being around poor people, but went on to say rich people only like to be around rich people. this is a guy totally out of touch. charles: and the guy that poked the hole in the picasso, right? >> and the insurance company. what he's trying to say in an incredibly awkward way, look, we have three new properties brought out and we cater to all levels and made these statements liz: it doesn't look good for the brand the guy with the name on it saying something like that especially when that company makes a lot of money pulling in middle class people and making them poor via gambling. >> selling vegas casinos, and not like he's selling ford fiesta liz: you're okay with that comment? >> i'm not okay with it, but-- >> the big profits come from the high rollers in macao. i'll tell you that steve wynn inherited a small bingo parlor and built it into an empire. one of my here u

get very upset when i opened up a portion -- a larger portion of atlantic city because it allowed steve wynn to come in. it opened a roadway to another piece of property he owned. but he didn't like the fact that anybody else was going to be there. my feeling is, you need competition and you need as many people there as you can get. so he's not exactly a big fan of mine either. >> let me ask you this. is there anything that you saw in atlantic city that would say, you know what, maybe this will make him a decent president at x, or is it just the opposite? >> no, i think it's really more the opposite. again, i'm waiting for somebody to truly pull back the curtain. when you say you want somebody who is a businessman, because you feel they can get things done. this man took four companies through bankruptcy to get his own money out, and short-changing the people he employed. he had to pay fines for bringing in illegal immigrants, and said he can't find anybody, americans, to work at mira lago. if you start parsing it down, the story behind his successes, there's not a whole lot there. and the l

john smith had been barred from writing about adelson and another casino magnate, steve wynn. both adelson and wynn had sued smith over books he wrote, although neither lawsuit succeeded. las vegas review journal editor j. keith moyer said publicly at a journalism conference over the weekend he believed it was a "conflict" for smith to write about adelson. smith announced his resignation tuesday after three decades, writing -- "if a las vegas columnist is considered 'conflicted' because he's been unsuccessfully sued by two of the most powerful and outspoken players in the gaming industry, then it's time to move on. if the strip's thin-skinned casino bosses aren't grist for commentary, who is?" and florida republican senate candidate has suggested anyone from the middle east should be banned from entering the united states. questioned by a reporter about the comments, carlos beruff said he would allow in people from israel. this is audio from the sun sentinel. that has much anybody got a terrorist organization in it, which is pretty much all of the middle east. >> would you inc

hotel and casino tycoon, steve wynn, is under fire -- did you hear about this?e said "rich people only like being around rich people. nobody likes being around poor people, especially poor people." [ laughter ] in a related news, donald trump needs a new opening line for his inauguration speech. [ laughter and applause ] "my fellow rich people, but not you depressing poor people." check this out, this is kind of interesting. the u.s. military is experimenting with a a self-driving warship that is designed to hunt for enemy submarines. it's a billion-dollar state of the art piece of naval technology. but when they want it to move, they still have to say h-6. >> steve: you sunk my battleship! [ laughter ] >> jimmy: yeah, exactly. [ applause ] unfortunately. it's unfortunate. the technology is all talking to things. you don't want to -- yeah. it's not like you have to type it in or anything. >> steve: oh, you're just gonna say it. >> jimmy: you just say it. yeah, cool. >> steve: h-6. >> jimmy: dude, you just started a war. [ laughter ] i saw that north korea claime

. >> steve wynn bought another 72,000 shares yesterday in wynn, wynn is going higher.> big-cap china, baba the one to play. >> dan? >> ibm, small caps on the seller here. >> raise your hockey, sister. >> playoff hockey, ranger, tune in. >> final trade? >> cisco. >> that's it. >> three giddy-ups. >> go rangers. >> i'm melissa lee. thanks so much for watching. see you back here tomorrow at 5:00. meantime, do not go anywhere. >>> my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere. i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends. i'm just trying to make you some money. my job isn't just to entertain but to teach and put it in context. call me at 1-800-743-cnbc. or tweet me @jimcramer. for almost a year now we have experienced a ferocious phenomenon, the one i call the rolling bear

this is after steve wynn wynn golfthat its club will be covered it into a more family result, a place for water skiing and paddle boarding. he is really excited about it had this is the first rebuilding he has done in las vegas going back to 2008. you can see shares are up. analysts are excited about it. you can see shares have already done incredibly well this year they just about doubled after reaching the low in january. we are also watching hanes brands, the clothing many factors seeing it is acquiring champion europe, which is closely held. the company also holding steady in terms of saying that the business is steady for the year. does shares are up nearly 5%. and bed bath & beyond shares moving higher as well. , optimistic about the full-year outlook. four fed chair's past and present will be speaking later today. the historic event comes at a time when the country could use a collective wisdom. david bloomberg the economies and how they can affect the fed. thed: anyone who says that fed only operates on the domestic around was not around in 1998 when the is policy following th

. >> how did steve wynn? >> he was family friend. i thought las vegas was a nice place to live. almost 20 years. when i heard the vision that he had for vilodgeio. >> that was the innovative one that changed the way we perceived the city. >> wolfgang puck was already there. it was on an individual scale. what steve and elaine did really was the game changer. >> as i hand you this dish to get your signature on it i'll ask the woman who is known as the chef snatcher for rekroocrug the best. if you could have a meal past or present who would it be? >> prince. i was always a fan in high school. it was purple rain and i never got to me i think he swas a game changer. i think that would be the guy that i would have -- >> good pick. elizabeth, thank you so much. >>> upn next bob mould is a pioneer, influencing artists like nnirvana. >> and what fueled his fury in the early days. he'll perform in our saturday session. but it's actually a triumph of predictive analytics. because of optum. through population health data, they provide insights so doctors and