So reports J.P. Morgan analyst Joseph Greff, who met with Pinnacle Entertainment 
brass. The latter characterized their absorption of Ameristar Casinos as “on track.” Part of this is due to five “synergy buckets,” which represent everything from job cuts to more-centralized purchasing power (read: bigger discounts). Adds Greff:
“Management’s strategy of taking “best practices” from each legacy organization had already begun to take hold, with an early example coming in the form of shifting to ASCA’s centralized accounting structure (which should result in cost savings). Lastly, management has been pleased with the condition of the ASCA properties, and has found no maintenance capex surprises.”
Near-term priorities mainly concern paying off the Ameristar deal, plus opening River Downs, in Ohio, by the middle of next year.
Other than online gaming, Atlantic City‘s jackpot of the year is Miss America, the much-in-demand Nina Davuluri. It’s not just the cretinous reactions her coronation inspired. It’s not just her frequent mentions of Atlantic City. No, the pageant has a deal with the Casino Reinvestment Development Authority whereby the latter provides the former with $7.5 million, in return for frequent PR plugs from the lady in the tiara. Said Atlantic City Alliance CEO Liza Cartmell: “The whole controversy … has created broadcast opportunities on mainline television and continued focus and attention on Atlantic City. She’s been very good about continuing to comment on Atlantic City throughout the interviews.” Who knew that the return of Miss America to the Boardwalk would pay off so soon and to such a degree?
When it comes to condos, Vegas can’t seem to win for losing. S&G has already reported on the restart of Wyndham Desert Blue. “A continued pattern of increased travel” has also been noticed by Marriott Vacations Worldwide, which has a substantial Las Vegas presence. Consumer demand isn’t a worry, never says, say some insdiders. It’s a question of whether timeshares have shed their image as a toxic form of securities or will history repeat itself? Sin City developers seem to be taking things slowly, adding an aggregate of 834 units, compared to the multi-thousand-unit addition which help contribute to the bust of the condo bubble six years ago.
