Category: Casino News

It went right until the last minute but there’s a deal in place between Wynn Resorts and the Culinary Union. When negotiations were gaveled finished this morning, Wynn was three hours shy of the Culinary’s 5 a.m. strike deadline. The new pact resembles those achieved with MGM Resorts International and Caesars Entertainment, especially in two crucial (and reasonable): substantial pay increases and reduced workloads for some staff. Big Gaming beat up on labor during and after the Great Pandemic, so it was time to give something back—and it did. Kudos to them and to the Culinary for a masterfully run campaign that said ‘nay’ to the union’s naysayers, including some corporatist lickspittles at the Las Vegas Sun.

Continue reading Win at Wynn; MGM roars

No really meant no. Voters in Richmond rejected an Urban One casino two years ago by a whisker. Yesterday they buried it in a landslide. As of midnight, what was expected to be a tight race was a rout, with pro-casino forces only mustering 38% of the vote. Late polling had shown the casino ballot initiative trailing by two points. Why the dramatic, 10-point shift in the race? Was it the NASDAQ delisting of Urban One? Was it annoyance at being asked to go through a do-over campaign?

Continue reading Election update: Churchill Downs loses big

News outlets covering the stretch drive of Richmond‘s controversial Urban One/Churchill Downs casino proposal report a “razor-thin” margin for whoever wins, aye nor nay. In an atmosphere like this, missteps could be killers. And boy, did Urban One step in it big-time. A radio show on Urban One, hosted by Urban One founder Cathy Hughes, became a megaphone for racism in the cause of casinos. Appearing on The Box 99.5, guest host Preston “Famous” Brown smeared casino adversary Paul Goldman as “a white Jew with the background of Judas.” The Box quickly backpedaled. “These statements were horrible and offensive. Once we heard the comments and because he was alone in the studio with his producer, I personally drove to the station and immediately removed him from the show. He will not be appearing again,” said Radio One Regional Vice President Marsha Landess. However, apologies from Urban One CEO Alfred Liggins and Landess may not be enough to undo the PR damage at this late date.

Continue reading Election Special; Trump testifies; Stitt’s stupidity

Casino revenues for September are in and they bode well for Las Vegas Strip casinos and rather concerningly for everyone else. The Strip carried the state to a 2% increase to almost $1.3 billion for the month. Strip gambling palaces grossed $741 million, a 7% jump. Baccarat winnings vaulted 88% on high hold, despite 2% less play. That more than made up for less slot play (- 4%), which brought in $383 million. Table wagering was off 7% win was 3% higher, to $211 million. “If we normalize both the low hold in September of 2022 and the high hold in September of 2023, [gross gaming revenue] would have been down ~3.2% Y/Y, though, given the cyber security event, this should not be surprising,” argued Deutsche Bank analyst Carlo Santarelli. Isn’t nice how an MGM Resorts International/Caesars Entertainment cyber catastrophe can be normalized as a mere “event”?

Continue reading Las Vegas: Locals gamble less; Boardwalk notebook

Our august Supreme Court had the chance to decisively outline the parameters of the Indian Gaming Regulatory Act—and blew it. SCOTUS had been petitioned by parimutuel owner West Flagler Associates to block implementation of Florida‘s compact with the Seminole Tribe, one which gives the Seminoles exclusive rights to sports betting in the Sunshine State. The highest court voted 8-1 against hearing West Flagler’s appeal, made after activist appellate judges redefined “tribal lands” in IGRA as extending throughout cyberspace, which neatly turns the Act on its head. Only Justice Brett Kavanaugh realized that there were bigger issues at stake and was acutely aware of the IGRA contradiction. Would that he was not alone. The compact, he wrote, also “raises serious equal protection issues.” We’d like to hear those litigated and there’s a chance that West Flagler will get another bite at the SCOTUS apple, although the chances seem bleak. The Seminoles have been green-lit to start taking sports wagers and once that particular ship has sailed it will be difficult to sink it.

Continue reading SCOTUS whiffs, big time; Political roundup