Robin Camacho
Las Vegas Real Estate
David McKee
Stiffs & Georges
Jean Scott
Frugal Vegas
Cannery Casino Resorts (29) [RSS]
Melco Crown Entertainment (29) [RSS]
Morgans Hotel Group (32) [RSS]
Pinnacle Entertainment (60) [RSS]
Tropicana Entertainment (90) [RSS]
World Series of Poker (6) [RSS]
Illinois: No country for big casinos
JohnTerez said: What your name? , <a href="http://pdabooks.org/membe... noir wine&l... [More]
Nevada: The Stupid State
PortoM0n said: Don't go far away. , <a href="http://cool-wallpapers.ev... cool wall... [More]
They burned the Monte Carlo ... and may get away with it
JohnTerez said: Try see it. , <a href="http://smart.fm/lists/152... glass supplies</a>... [More]
Nevada: The Stupid State
PortoM0n said: Hi brothers and sisters! , <a href="http://boxesandarrows.com...... [More]
They burned the Monte Carlo ... and may get away with it
SoloJ3ss said: Great... , <a href="http://boxesandarrows.com... to make deer a... [More]
Enter your email address to subscribe to this blog.
alex yemenidjian ameristar animals architecture atlantic city australia baseball boulder strip boyd gaming california cannery casino resorts carl icahn charity cirque du soleil citycenter colony capital colorado columbia sussex cosmopolitan current detroit dining don barden donald trump downtown economy election encore entertainment environment florida fontainebleau g2e george maloof harrah's harry reid herbst gaming horseracing igt illinois indiana international internet gambling isle of capri james packer kansas kentucky labor lake tahoe laughlin lawrence ho louisiana lvcva m resort macau marketing massachusetts melco crown entertainment mesquite mgm mirage michael gaughan mississippi missouri monte carlo fire morgans hotel group movies neil bluhm ohio oscar goodman penn national pennsylvania pets phil ruffin pinnacle entertainment planet hollywood politics problem gambling regulation reno riviera sahara sheldon adelson singapore sports stanley ho station casinos steve wynn tamares group taxes technology the strip tilman fertitta tourism transportation tribal tropicana entertainment tv wall street
Posted At : March 10, 2008 01:22 PM | Posted By : D McKee
Related Categories:
Riviera,Donald Trump,The Strip,Atlantic City
I never thought I'd type that headline, but that's the gem of news buried at the bottom of an otherwise pro forma story on the Riviera FY07 filing.* Pointing to a glut (102 acres, precisely) in undeveloped Strip acreage, John Knott of CB Richard Ellis says it means "it's more challenging for the Riviera to get $30 million per acre[,] which you could have argued four months ago was the value. Today, it's clearly not the value."
(Which isn't good news for Columbia Sussex, in case it decides to unload the Las Vegas Tropicana, bought when Strip land values were at their zenith.)
* -- As reported on our What's News page: "Despite notching improved room rates at its Strip property and better cash-flow margins overall, Riviera Holdings Corp. recorded a $1.48 per share loss for 2007, compared to only $0.03/share in '06. Improved entertainment product, primarily ICE, was also credited with improving financial performance at the Vegas Riviera. Its Black Hawk counterpart has added three outdoor smoking lounges to counter Colorado's ban on smoking in casinos."
"Thank God for Leap Day" That's what they're probably saying along the Boardwalk, after a 29-day February broke a 10-month run of gloom-inducing numbers in Atlantic City. Slot revenues may have merely held their ground but table games continue to look like A.C.'s source of salvation (+4.9%).
The quick-and-dirty version is that it was a bad month for Colony Capital and a good one for Trump Entertainment Resorts, which belatedly rolled out a cross-property players card. (They're only doing this now?) Gaming execs are quick to strike a cautionary note, in the "One swallow doesn't make a Spring" vein.
Ray Rawson might get the boot from the Nevada Gaming Commission. This is a developing story that bears close watching, especially given the current administration's propensity for controversial appointments (a boon to newsmen after eight comparatively bland years under former Gov. Kenny Guinn).
The upside to a weak dollar is that it means "buy American" ... if you live overseas. That goes for Strip condos, too.
Print | 
Send to Friend | 
del.icio.us | 
Digg It! | 
Linking Blogs |
There are no comments for this entry.
[Add Comment]