Look what just fell into the S&G mailbag:

Beginning January 1, 2010 Penn National Gaming will partner with RPM Advertising to develop and execute a brand identity for Hollywood Casinos.  The full service assignment will incorporate research, brand development, media planning/buying, creative execution, production services and direct marketing.  Penn National, one of the top five gaming companies in the world, owns and operates seven Hollywood Casinos across the country including facilities in Aurora, IL; Bangor, ME; Baton Rouge, LA;  Grantville, PA; Lawrenceburg, IN; Bay St. Louis MS; and Tunica, MS.

Forgive me if I have a coughing spasm after reading Penn National describe itself as "one of the top five gaming companies in the world." I suppose it would depend on your definition of "top" (number of facilities and/or employees, market cap, etc.) but in an industry that contains MGM Mirage, Harrah's Entertainment, Wynn Resorts, Las Vegas Sands, Boyd Gaming, Station Casinos and even woebegone Trump Entertainment Resorts, the best Penn could hope for in terms of name recognition would be eighth place. (Enter RPM, stage right.)

As for the marketing alliance, given the timing of the belated decision to try and unify the brand, it looks like Penn is going to attempt a Harrah's in reverse: acquire a Strip property (Fontainebleau) and then create a company-wide brand-loyalty program to incentivize customers to visit its shiny new megaresort.

Sounds a bit cart-before-horse to me but, after today's bulletin, it's no stretch of the imagination to suggest that F-bleau could soon become Hollywood Las Vegas or some close variant thereof. At least in terms of brand equity, it would represent a step or two up from F'bleau, whose name recognition factor is now entirely negative.

Green shoot? Weekday room rates for early December at Vdara have nudged upward to $145/night (from $129) according to J.P. Morgan analysts.

What's wrong with this picture? The media night for Wayne Newton's new Tropicana show, Once Before I Go (could we have that in writing?) looks more like a Dancing with the Stars tour stop. In addition to former contestants Sabrina Bryan and Jennie Garth, four DWTS regulars -- including Cheryl Burke and Kym "Tina Sparkle" Johnson -- will be on hand.

Except for Ms. Johnson, who's presumably in town to rehearse current partner Donny Osmond, the quartet is available because they've all been eliminated. (For instance, Alec Mazo helped Olympic swimmer Natalie Coughlin dance her way to a premature exit.)

Trouble is, they'll be in the audience and the Wayner will be onstage. Wouldn't you prefer the reverse proposition? And since Newton is strictly a short-term proposition for the Trop (six months and out), would it be too much to hope for a Vegas offshoot of DWTS as his successor?

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"Steve Wynn was the worst offender on that score. Last year, he used his aircraft for a $1 million of personal travel, which Wynn [Resorts] shareholders paid for. To do $1 million worth of travel, I worked it out that you’d have to fly to Hawaii and back every week for a year to rack that kind of a cost up." -- investor activist Eric Jackson, founder of Ironfire Capital, on the subject excessive perks in the casino industry.

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Contrary to repeated assertions by J.P. Morgan, it would appear that MGM Mirage is putting out promotional specials for Bellagio ... and very aggressively so. Note however, that Steve Wynn's masterpiece is maintaining its price point and Aria is the one having to come down to meet it.

Also, an unscientific survey of mid-week rates parallel to Aria's opening shows that what the CityCenter flagship is doing is sucking the air out of the rest of the Strip, especially other MGM properties. Even Wynn Las Vegas is down to $159/night that week (quotes were predicated on a three-night stay).

The absolute bargain was Downtown's Golden Gate ($12.71) and unless you count Hooters and fellow bottom-feeder Wild Wild West, the lowest on-Strip price was $21.21 at MGM's Circus Circus. The Sahara ($22.40) and Imperial Palace ($25) were close behind. They were ever-so-slightly outpriced by the Riviera ($27) and Tropicana ($29.33).

As for other properties in the lion's den: Excalibur ($31), Luxor ($48.37), New York-New York ($50), Monte Carlo ($58.62), the Green Monster (aka MGM Grand, $70), Mandalay Bay ($72.55), The Mirage ($76.50), THEhotel ($93.29), Vdara ($109) ... with only the Green Monster's Sky Lofts ($600) outpricing Aria.

So, MGM, are you sure this oligopoly business model is the way you want to go? I'm just askin'.

<crickets>

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Peepshow star/trainwreck-in-progress Aubrey O'Day likes to speak her mind, for whatever it's worth. Evidently the recklessly candid utterances of Ms. O'Day were worth not one, not two but, yes, three dispatches by Richard Abowitz.

The fascination is understandable, given an interview subject who readily owns up to being unhappy and describes her demi-celebrity as "fame-ish-ness." O'Day's costar, Holly Madison may have been dubbed "Queen of Vegas" but when Las Vegas Weekly tried to wrest similar prose mileage out of her, the result was better than Sominex. Strangely, I find myself rooting for the id-on-the-loose that is O'Day to go the distance here in Vegas.

A Bronx Tale. Kudos to Sheldon Adelson for rolling the dice on Chazz Palminteri's virtuosic one-man show, whose run has been extended for another week. Yours truly finds it a rather warm-and-cuddly depiction of Mob life but both Mike Weatherford and Joe Brown express nearly unmitigated enthusiasm. Whichever way you slice it, it's still three thumbs up for Palminteri.

Wynn still happy. If the Chinese government's aim in applying further curbs to Macao is to "tamp ... down" the Cotai Strip™, where Sheldon Adelson™ aims to build "Asia's Las Vegas™" no wonder Steve Wynn is a happy camper. Anything that handcuffs main rivals Las Vegas Sands and Stanley Ho is good news at Wynn HQ, especially with Encore Macau coming on line soon. How boring life would become if Wynn and Adelson ever suspended their running verbal gunfight.

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In less than an hour, Steve Wynn is going to make an extra-special, triple-secret, top-hush "entertainment announcement" via a Wynn Resorts Web-cast. Don't tell anyone but ... he's going to reveal that Garth Brooks will be playing Encore.

Which we know partly because it's been the worst-kept secret on the Strip and even more so because it was announced today in Nashville at 7 a.m. Vegas time. But we're all s'posed to pretend that we didn't hear anything and it's all going to be a big-ass surprise and whatnot. Yeah, that's the ticket.

This underscores how ill-tuned the casino industry is to the news business -- and furthermore, how it still hasn't made the adjustment to the global village of online media. People like Wynn (or Jenn Michaels over at MGM Mirage) continue to operate as though the daily newspaper were the only game in town and people's primary source of information.

Sorry, but what happens in Nashville no longer stays in Nashville until the next news cycle. It makes it to Vegas in the blink of a Tweet.

Vintage Vegas/Matt Goss. Both are reviewed by Richard Abowitz, who makes a number of thoughtful observations re lounge acts in general. He's a bit lenient on both Zowie Bowie and the Gossmeister, IMO. Vintage Vegas is so bad you'll want to see it so you can talk about it at parties. Goss is just bad and in a very uninteresting way. If a yawn could wear a white suit, it'd be Matt Goss.

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Casino operators in Macao better make the most of the recent relaxation of visa quotas into the enclave. What the government gives with one hand, it partly reclaims with the other. Casino expansion remains out of the question and the minimum age for gambling would go up to 21, from 18, under a bill draft soon to be put forward. (Steve Wynn can afford to be sanguine, as it's far more likely to impact his mass-market-oriented competitors. Investors didn't share his enthusiasm.)

If Wynn -- who continues to toe the Peking party line -- comes out a winner, facing negligible "obstacables," Lawrence Ho is the presumptive loser. As best S&G can ascertain, the curtailment of gambling in residential areas is aimed at his Mocha slot routes, one of the younger Ho's bread-and-butter enterprises.

Another proposal awaiting action by the Macanese Lege would cap table-game inventory. Writes J.P. Morgan analyst Joseph Greff, "we believe the Macau government believes the timing is right to implement these initiatives given the completion of the commission cap rule and the resumption of growth in the industry ... if the number of tables will be limited to 1,000 per operator, [Las Vegas Sands] may need to modify its future expansion plans, as it is already over the limit, while SJM will need to close down some of the older tables operated by the third parties, as it too is already over the limit."

None of this appears to bode especially well for Sands' long-in-coming IPO, although it remains to be seen whether this is a bonafide legislative agenda or simply a warning to inhibit growth. The news, however, managed to cast a pall over Sheldon Adelson's planned resumption of his Cotai Strip™. Also, it's not as though the Macanese government and its casino-owning subjects don't have to worry about an upsurge in gambling back on the Mainland.

Detroit, briefly. The depression continues to eat into Detroit's casino revenues, -2% last month. Despite a -6.5% drop, MGM Grand Detroit remains the big cat, grossing $42 million. Second place is up for grabs, though, as MotorCity continues to fall back (-7%) toward upstart Greektown (+12%), which is closing the gap, grossing $28.5 million against $33.5 million for MotorCity.

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Or maybe the question should be, What was Steve Wynn smoking before he told CNBC "Money Honey" Maria Bartiromo that Wynn Macau was making more than all other 30 Macao casinos combined? Perhaps he meant his joint is the single-highest-grossing casino in the Chinese protectorate, but his phraseology is misleading:

Wynn's remarks on the importance of staffing and customer service are, as usual, on point. However, he starts sounding like a puppet of Peking ("One thing about the Chinese government, I think they get it right."), praising the steadiness and thoughtfulness of its policies. Here's an example of Peking's steady, thoughtful policymaking in action:

Wynn's comments that infrastructural improvements don't help at tourism-dependent (casino) industry make him sound naive -- doubly so if aforesaid projects put disposable income into consumers' pockets. Still and all, Wynn is far more reasonable on CNBC -- and immeasurably less obnoxious -- than during his obstreperous Fox News Sunday rants.

Although Wynn clearly fancies himself the new political pundit on the block, he's got but one string to his bow: bellowing "Tax policy" over and over. Which translates as "Tax cuts (for me)!" Yup, if Big Guvmint would just stop collecting taxes from Big Bidness, everything would be hunky-dory, economically speaking. We'd have new jobs coming out the ass.

Here's the problem with that line of argument: We're fresh off eight straight years of tax cuts, tax holidays and corporate loopholes big enough to encompass every square foot of CityCenter. How did that work out for us?

More to the point, given a tax-averse administration and Congress, how did Wynn's casino colleagues handle their newfound largesse? Did they invest it responsibly? Hell to the no! That "bundling of the Strip" which Wynn has decried is the poisoned fruit of companies that were awash in capital and easy credit, who then used it to try and eradicate the competition. (Similar phenomena occurred in the regional casino markets and in the slot industry.)

Having cannibalized their main rivals, casino companies then began to devour themselves, in the form of insupportable debt levels and insane LBOs. And if Wynn really believes that government spending has never improved anyone's lot in life (he must have forgotten the New Deal, for starters), then how many standards of living are raised by merger-and-acquisition orgies? For the average worker, it means jobs are "consolidated" out of existence. Heck, not even executives are immune. Just ask some of the Mandalay Resort Group or Park Place Entertainment higher-ups who are now enjoying involuntary retirement.

Should the current administration hand out the kind of tax vacation Wynn is demanding, would the casino industry A) buy new and shiny objects, B) retire debt or C) create jobs? B & C would probably finish a distant second and third to A.

Just look at Harrah's Entertainment: It can't repay its creditors dollar for dollar but thinks nothing of snapping up 16% of Planet Hollywood. If there's degenerate gambling going on in the casinos, the worst of it can be found in the executive suites. If these guys ever took to playing Russian roulette, they'd probably leave at least five bullets in the revolver.

Wynn is probably feeling his oats, given the bullish, odds-defying early performance of his Hong Kong IPO. The real story may be that gains realized in the Hang Seng will be used to prop up Wynn's Las Vegas operations rather than to expand in Macao.

This just in: The two-week run of A Bronx Tale at the Venetian has been extended to a third weekend. A spoken-word play in a Strip theater seemed like a dicey prospect so this is very good news indeed.

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As they say on Dancing with the Stars, in no particular order ...

Eight against Harry: For a speedy primer on the myriad challengers to Sen. Harry Reid (D-NV), you can't go wrong with Jon Ralston's droll and speedy primer. It even gets props from John Chachas (R-Central Park West), who recently tossed his homburg into the ring. At least one among the posse Ralston calls "Snow White [Archon Corp. Treasurer Sue Lowden] and the Seven Dwarfs" has a sense of humor.

Reason vs. rage: While Steve Wynn was ranting on the boob tube this weekend, Thomas Krugman's column offers an indirect rebuttal to Wynn's Johnny One-Note ("Tax policy!") table-pounding.

Run, Oscar, run! If these poll numbers don't nudge the World's Happiest Mayor into the 2010 gubernatorial race, perhaps nothing will. Oscar Goodman not only has the highest favorables among Nevada politicians included in the survey, he wins one theoretical electoral matchup and ties for first in the other.

Gov. Jim Gibbons' political future looks bleak (read: borderline nonexistent) and there's not much comfort for Hapless Harry, either. Just think how much worse it would be if Reid had an opponent possessing genuine gravitas. Besides, given the rising tide of discontent among Nevada's progressives, there's a good chance that much of Hapless Harry's old base will just stay home on Election Day.

In Oscar's domain, an architect suggests ways to revitalize Downtown by decreasing energy use, increasing sustainability and generally targeting long-term cost savings. The proposal makes a lot of sense -- a virtual guarantee it will be ignored.

Holly Madison tapped an Oktoberfest keg at Siegfried & Roy hangout Hofbrauhaus last Friday. [Your punchline here.]

"Serpent Head" Jr.: If CNN ever has to let James Carville go on vacation, don't worry ...

... SNL's Bill Hader can fill in and nobody will notice a difference.

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Wrong again. There I was, thinking the proposed $10 million upfront fee for table games in Pennsylvania was a done deal when the GOP-controlled state Senate upped it to $15 million (and if you don't pay by June 1, it goes to $20 million). Chalk that up as a "loss" for casino owners.

The latter did, more or less, get what they wanted on taxes, where they'll pay an aggregate state/local rate of 14%. Despite publicly requesting a 34% tax rate, Dems in the lower house are muttering that one in the "high teens" might be acceptable. The question is: In return for what?

Casinos also banked a "win" when the state Senate ashcanned an amendment that would have tripled the slot base at "resort" casinos. Since this amounted to preferential treatment for a tiny percentage of the Keystone State casino industry, it's good to see it get the back of Lege's hand.

Power play in New York. In the competition for the racino contract at Aqueduct Race Track, those in the hunt include MGM Mirage, Penn National Gaming, Harrah's Entertainment and Seminole Tribe-owned Hard Rock Entertainment, along with numerous and sundry joint-venture partners.

But none of the seems to have the juice of Larry J. Woolf's Navegante Group. After the New York Lottery Division had deemed Aqueduct Entertainment Group (in which Navegante is a partner) unqualified, Gov. David Patterson's underlings put the word out that the five-member consortium is indeed qualified. Somebody in Aqueduct Entertainment's got pull, that's for sure.

A win for Adelson. While no casino company was remotely near the top of Newsweek's ranking of the 500 greenest companies, Las Vegas Sands can claim a victory of sorts. Sheldon Adelson's firm clocks in at #128, well ahead of MGM Mirage (#164) and Wynn Resorts (#176). Given the extent to which MGM has publicized its green-friendly initiatives, particularly with regard to CityCenter, finishing so far behind LV Sands is tantamount to a smackdown by proxy.

Several years after the publication of Beneath the Neon (now available in e-book format) publications are still shocked -- shocked! -- to learn of Las Vegas' large (and growing) subterranean community. Alas, we no longer have the Hooverville that had sprouted about a half-block north of LVA HQ. Those hobos were a tidy bunch and made our street seem halfway populated.

Marie Osmond pix. I'm just sayin'.

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"[Steve] Wynn, however, has a slowly worded belief that it's time for people to stop listening to economists and start listening to throaty casino owners, and their astounding oversimplifications. Create jobs and we'll give your business $40,000! Please? Maybe? Please?"  -- Huffington Post's Jason Linkins, panning the casino mogul's bombastic and condescending performance on Fox News Sunday. Wynn did, however, succeed in coining a catchy new word: "obstacables."

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