Case Bets: Walker’s wager; “e” on the QT; Blue no more

One of the nation’s largest tribal casinos, Potowatomi Bingo, in Milwaukee, has been caught by the economic malaise that is dogging so many of the nation’s casinos. Although Potowatomi defied the Great Recession, peaking in 2009 and rebounding after a 2010 dip, its FY13 revenues are down again. It also has to worry about prospective competition from Kenosha, Beloit and Lafayette County. The administration of Gov. Scott Walker (R, right) has an interesting — if disingenuous — policy toward tribal-casino expansion. Walker retains veto power over any off-reservation agreements with the Bureau of Indian Affairs. However, all 11 gaming-enabled tribes in Wisconsin also have to sign off on them. What, I ask you, is the likelihood that 11 tribes are going to say, “Sure, bring on some new competition, man”? Not bloody likely. That way, Walker keeps his hands clean and lets the tribes do the dirty work for him. It’s almost fiendishly clever.

Discourage alcohol sales in the vicinity of the Fremont Street Experience? If the FSE were denuded of drunkards, would anybody be left? I always thought that downing a 36-pack was a criterion for admission. Attorney Chris Kaempfer, advocating for the booze shops, has a good point when he says that Las Vegas is engaging in selective enforcement, considering all the casinos and other establishments where you can tie on one beneath the neon.

If you prefer not-so-wretched excess of the culinary variety, you can try e, the newest restaurant by Jose Andres. (Yes, it’s really called “e.”) There’s a tasting menu no fewer than 15 courses long. I gain weight just thinking about it. The trick is, you have to know that e is cunningly hidden within Andres’ other Cosmopolitan restaurant, Jaleo. Between the caviar tacos and Air Chocolate Truffles, it’s not for everybody. A good thing, too, as it will set you back $195.

Quietly, without fanfare, construction has resumed at Wyndham Desert Blue, the long-stalled condo tower near LVA HQ. Workers can be heard tinkering away as the once-moribund project returns to life. It’s emblematic of a sudden acceleration in the local housing market, up 23% — double the national average. It’s happened in part because REITs and private-equity firms have engaged in speculation, coming through Vegas and sucking up empty homes with a vacuum hose. Building permits are also on the rise. That’s good news for the locals-casino industry for, as the housing market goes, so go casino revenues in places like the Boulder Strip and North Las Vegas. However, our next-door neighbors are one of the many families that are having to put their home on the market because they’re underwater on their mortgage, so it’s not exactly “Happy Days Are Here Again.”