Favorable forecast for 2018; New look at Cosmo

Good news for casinos: “2018 is set to be a good year for gaming operators and suppliers globally amid a strong economic backdrop and a relatively benign new supply environment,” says Fitch Ratings analyst Alex Bumazhny, one of the more circumspect analysands in the gaming ‘verse. “More broadly, the regulatory and new supply risks are relatively benign in the mature gaming industry,” Bumazhny writes, while warning of saturation in the northeastern United States, whose sorry effects are already playing out in upper New York State. In the Atlantic City market, Hard Rock Casino is expected to open in mid-year, infusing new energy into the Boardwalk, and Revel might finally be sold. (That’s if Glenn Straub ever ceases litigating for special treatment because, well, because he’s Glenn Straub.)

In favorable news for manufacturers, 8,875 new slots are expected to come online, goosing an installation cycle which hasn’t been anything to crow about lately. Adds Bumazhny, “Slot demand could pick up further as top-line among the operators improves and Caesars [Entertainment] emerges from bankruptcy.” What’s not to like?

* One can’t accuse The Cosmopolitan of Las Vegas of having acted in haste in settling upon the designs for its mass hotel-room makeover. It took a year and half, seeking out guest and employee input as part of the process (other resorts could learn from this). In the end, the in-house design team got the gig, along with Virserius Studio, whose credits include stylish Bar Vdara. Travel Weekly got an advance peek and described Virserius’ work as “luxe yet edgy, with jewel tones, metallic accents and bold patterns. A damask statement wall extends onto the ceiling, serving as a faux canopy over the bed. Cheeky details pop up here and there, a splash of wallpaper inside the closet or an interesting art piece in the living area.” That’s bound to be less visually jarring than the Wraparound Terrace and City suites, which boast “custom graffiti, vibrant colors and dramatic lighting.” One of the priority items for the Cosmo was comfortable furniture. We’re all for it but how did they miss out on that the first time around? In any event, new management at the Cosmo continues to be one a roll.

* Believe it or not, it’s possible to fail as a casino operator in Macao. Such is the case with Landmark Macau, which is ceasing business as it loses money hand over fist. The casino will remain in business through the end of the year. Owner Macau Legend Development Ltd. has already agreed to sell Pharaoh’s Palace Casino (where Roman centurions anachronistically stand guard). Landmark will still own the Grandview and Casa Real casinos, which are operated under the Sociedade de Jogos de Macau concession.

* Las Vegas casino operators claim things are back to normal after the 10/1 shootings but room prices tell a different story. Cyber Monday saw the rollout of priced-to-move hotel rates, ranging from $19 (!) a night at Circus Circus, through $47 at Mandalay Bay, to $133 at Bellagio. In several cases, the odious resort fee is more than the room rate. The fallout isn’t confined to MGM Resorts International properties. Wynncore is offering discounts through the end of the year, Las Vegas Sands is discounting (it’s really a cold day in Hell for Sheldon Adelson), and Caesars Entertainment is selling rooms for The Rio at $27 and Bally’s at $42. If you’re contemplating a Vegas trip go now, before prices recoil to pre-Stephen Paddock rates.