Reading Loveman’s tea leaves

Gary Loveman has made a lot of mistakes as Caesars Entertainment CEO but building a convention center in Atlantic City wasn’t one of them. In fact, it’s been one of his better ideas. While he was in town to put his John Hancock on the final beam of the $126 million Waterfront Conference Center, he shared several cryptic remarks with the media. While he said he wasn’t in any talks with Unite-Here, Loveman added “The challenge in Atlantic City is not simply revenue but cost.”

This could easily presage a contractual squeeze like the one Trump Entertainment Resorts put on its labor force (which may have bought them only three more weeks of employment), particularly if Caesars files for bankruptcy in January, as expected. That would directly affect Bally’s Atlantic City and Caesars Atlantic City, but not Harrah’s Resort, “safehoused” in financially stable Caesars Entertainment Resort Properties. He also said Caesars is “considering offers on the Showboat from a variety of potential purchasers,” but didn’t make it clear whether he’d try to remove the Showboat’s gaming entitlement or not.

“This is really a test case for me and my competitors — that Atlantic City can have a multifaceted meetings and conventions business. That we can offer an entire experience, a deeper hospitality experience,” Loveman said of the conference center. He’s doing what somebody should have done a long time ago but better late than never.

State Senate President Stephen Sweeney was on hand for the signing and he put his wrath at Trump aside for the moment and practically glowed, saying, Atlantic City has a phenomenal future. We’ve taken some hits, and we know that. . . . But Atlantic City hasn’t seen its best days yet. Atlantic City’s best days will be as a resort again.” Most New Jerseyans, however, disagree, according to a Rutgers-Eagleton poll.

* As long as Loveman is signing things, he’s inking $475,000/show paychecks for Britney Spears and 700 grand for a single Marc Anthony concert.

* Although Monmouth Park plans to offer sports betting on Sunday, a court could head it off at the pass. Federal Judge Michael Schipp says he needs to hear from Gov. Chris Christie and a spate of regulatory bodies before he can rule on a complaint filed by the NCAA and a quartet of major-league sports. Even then, oral arguments may have to be heard. The casino industry is keeping mum on this and taking nary a bet. It’s leaving Monmouth Park to go it alone.

* It’s official: Steve Wynn will redesign his Massachusetts casino project, the one aspect of his proposal that really flopped with regulators (and probably dismayed his fans). We can hardly wait to see what version 2.0 looks like.

* Los Angeles Clippers coach Doc Rivers, Las Vegas Sands and Tao nightclub are all stonewalling after Blake Griffin allegedly put a beatdown on a customer. Las Vegas: Where $500 gets you a bottle of vodka and the chance to get your lights punched out.