It’s a good thing that American Gaming Association President Geoff Freeman hightailed it to Barcelona this week to give a speech. During Global Gaming Expo, his signature achievement was to stake the AGA’s credibility on a Justin Timberlake movie. Freeman didn’t exactly bring sexy back: Runner Runner scared up a paltry $7.6 million at the domestic box office. Americans clearly find the threat of Internet casinos a less-than-compelling topic. It’s also hard to posture about the need for federal regulation when the industry — including fellow scare tacticians MGM Resorts International and Caesars Entertainment — is piling into New Jersey, Nevada and Delaware as fast as it can, looking for i-gaming licenses. (Fiscal relief can’t come a moment too soon for Atlantic City.) Freeman gets an “F” for putting so much faith and credit on Runner Runner. Besides, Congress has better things to do. On second thought …
While in Barcelona, Freeman identified several priorities. These included removing regulatory barriers to “the intersection of digital technology and social media” (read: Internet gambling), to recapture young gamblers who are now spending their money on nightclubs and pool parties. While he’s right to warn against “bad actors” in the digital sphere, he might look closer to home. A disturbing Associated Press story reveals just how poor security in Las Vegas Strip casinos is (i.e., very). This has helped to lead to a number of robberies and rapes. “Only Caesars Palace, Planet Hollywood, the MGM Grand and Tropicana Las Vegas monitor the halls above the gambling floor.” Even more alarmingly, the AP documents a climate of fear among casino employees, who are reluctant to report crimes committed against their person. Worst of all is the can’t-do attitude of those for whom negligence is cheaper than additional surveillance. Prospective Las Vegas visitors should take this news into account when planning their stay.
Kudos to management and ownership of Hard Rock International for continuing to pour thousands of charitable dollars into West Springfield and promising to do even more yet. Hard Rock is taking the high road, even though voters basically threw it out of town. True, this will engender good will if Hard Rock decides to plunge into Massachusetts‘ southeastern region — but where’s the harm?
In brief … For someone who hasn’t done any pro-casino campaigning New York Gov. Andrew Cuomo (D) is finding inaction lucrative: $361,000 from gaming interests has found its way into his political tip jar … Color me impressed with Harrah’s Atlantic City‘s in-progress convention center, poised to be one of the largest on the East Coast. At budget-friendly $126 million, it’s a smart, low-intensity use of the company’s precious cash … Only Indiana approval stands between Penn National Gaming and its REIT split into two companies. One question: How much will the REIT’s requirement to pass 90% of taxable income on to shareholders impair parent Gaming & Leisure Properties Inc.’s ability to reinvest in needed maintenance and improvements?
