“Is this legislature capable of setting a course and sticking with it?” That’s the very legitimate question posed by the editorial board of The Day, with regard to the Lege’s
rather addled behavior on whether to stand by the satellite casino it authorized in East Windsor or entertain overtures from MGM Resorts International. “There are several problems with following MGM down this primrose path,” opined The Day. “MGM’s sincerity in building a Bridgeport casino is much in question. The company has been telling investors it is not planning more casinos in the United States. MGM is asking state lawmakers to believe it would make another massive investment not terribly far from Springfield to tap a New York market already saturated.”
The paper points out that Fairfield County already voted down a casino, albeit two decades ago. Noting that tinkering with the current tribal compacts imperils Connecticut‘s 25% slot-revenue share, The Day describes MGM’s endgame as “really about is derailing the East Windsor casino plan or at least delaying it long enough to get MGM Springfield open and established before Connecticut’s casino operators can muster a response.” As for the stalling of the Bureau of Indian Affairs, the paper
suggests lawmakers amend the enabling legislation to cut the BIA out of the loop. As for MGM’s complaint that it wasn’t allowed to bid on the Hartford area, the paper cuts to the quick, noting that the company was forbidden from building within such proximity to Springfield due to its preexisting Massachusetts license. As much as we admire the quality of MGM’s resorts, we have to agree with The Day and suggest that Nutmeg State solons grow a spine.
As for MGM, it continues to bet the house on Japan. Last week, Executive Vice President for Global Development Ed Bowers gave a speech in which he warned about excessively cautious casino development in Nippon. “For political reasons, you end up inserting different things that result in unintended consequences – such as if you apply too much pressure, a high tax rate, high entry free, or limit to the floor space. As you push one lever, it may have repercussions on other areas,” he cautioned. Such rival suitors as Hard Rock International and Caesars Entertainment also spoke at the session, which was politely conducted and didn’t descend into fisticuffs, no matter how badly anyone is slavering for a piece of the Japanese pie.
* Wynn Resorts made two announcements of consequence in an SEC filing. It said it
would be enlarging its board of directors (no nominations yet) and that the internal investigation that helped speed Steve Wynn‘s departure would continue. The company said it “will conduct an expanded and comprehensive review of Wynn Resorts’ internal policies and procedures with the goal of ensuring the company employs best practices to maintain a safe and respectful workplace for all employees.” We’re glad to hear it.
* Florida lawmakers are getting closer to compromise on an omnibus gaming bill. Both the House and Senate have agreed against allowing “pre-reveal” slot machines and both appear ready to ratify the Seminole Tribe‘s 20-year compact with the state. However, the state Senate favors “designated-player” card games, which are a kind of house-banked
card game in drag and which the Seminoles oppose as an infringement upon their compacted monopoly. Legislators in the upper house hope to entice the Seminoles into acquiescence with exclusivity on roulette and craps for the next two decades. Meanwhile a ballot drive backed by the Seminole/Disney odd couple to take gaming policy out of the Lege’s hands and give it to local communities is polling 76% in favor, so if lawmakers are going to do anything sweeping they’d better get it done by election time.
* Myanmar may be the next country to evolve into a casino destination.“Although casinos are banned under the current gambling law, the concerned ministry has no objection against them,” said Ohn Maung of the Ministry for Hotels & Tourism. They would be tourist-only casinos in the country’s resort areas. Added parliamentarian Aung Hlaing Win, “There are very good businesses in Macao and Singapore. Our country has large sum of foreign debt that we need to pay back. We need to find solutions to make money for the debt. Casinos could be a major source of income.”
