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Monte Carlo: the catastrophe that wasn't

Posted At : January 29, 2008 01:21 PM | Posted By : D McKee
Related Categories: MGM Mirage,Tribal,Monte Carlo fire

Although everything worked out about as best as could be hoped during the Monte Carlo fire, I'm not sure whether to be reassured or disturbed to learn that it could have been a lot worse, up to and including the locking of evacuation doors. Given the corner-cutting found recently at The Rio, Harrah's Las Vegas and the Flamingo, there's been altogether too much laxity and penny-pinching of late where fire-safety issues are concerned.

Hopefully, the silver lining in the Monte Carlo smoke clouds will be a more urgent discussion (accompanied by action) to nip this problem in the bud. After all, if these problems are cropping up at second-tier Strip properties, I shudder to think how much more serious they might be at some of the real dowagers in town, particularly those that have been afflicted with cash-flow issues in recent years.

As for whistleblower Stroud "Stan" Maldare, instead of imposing a gag order on him, MGM Mirage management ought to be promoting him to an oversight position, as he obviously is more on the ball than some of his higher-ups. We should all have employees who care so passionately about their workplace. If there's a hero in this saga, Maldare seems to be it.

As for Super Bowl Weekend guests booked into the Monte Carlo, I'm told MGM Mirage is taking it a day at a time and will accommodate them at other MGM properties. Good thing they've still got Circus Circus.

Oh, shoot: Now it's happened at Foxwoods. Not a good week for MGM Mirage (Foxwoods' business partner).

Pinnacle comes to Baton Rouge ... or not. Voters will decide the issue on Feb. 9; in the meantime, there's a grass-roots movement to block Pinnacle Entertainment's proposed riverboat-casino project near Baton Rouge, which would gobble up a chunk of rural flood plain. The pros and cons are laid out, along with some comparisons between the proposed Pinnacle boat and the extant Penn National and Columbia Sussex vessels.

Since Pinnacle is not shy about investing in its properties (a spirit that evidently doesn't extend to its prospective competitors; see below), one would think that the Baton Rouge community would be on board with the project, but apparently not. What's more, Penn National would probably put off or scrap a plan to send Argosy Lawrenceburg to Baton Rouge, while Columbia Sussex has other problems with which to cope right now.

Also, a Penn National-commissioned study predicts that Pinnacle's advent would be the pits for Penn and Columbia Sussex, with one or both boats forced out of the market. If Penn postpones upgrading its casino because of impending competition that'll be what we call a self-fulfilling prophecy. Live by the free market, die by the free market.

(Not that I put much stock in Penn's worst-case-scenario prediction.)

My sympathies are somewhat with the NIMBYs: Build it ... but in a different site, if possible. As for Penn and C.S., what they're asking for smacks of protectionism and should be backhanded by the voters. Did Steve Wynn's megaresorts push older, mustier casinos out of business? Probably. But that's how markets evolve. 

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