Monorail to the rescue of Grand Bazaar; Golden Nugget on the block?

We thought the Las Vegas Monorail was the biggest charity case on the Las Vegas Strip. However, the Grand Bazaar Shops — where Strip retail finally jumped the shark — is apparently even worse off. We say this because of a special deal announced today: Show your Monorail ticket and get freebies or discounts at Born & Raised Craft Pub (“20 percent off specialty drinks in souvenir drinkware”), Giordano’s (“Free Cheese Bread with purchase of an entrée pizza”), Exotics Racing (“One free lap with every five-lap driving experience [up to $110 value]”) and Ben & Jerry’s (“Buy a waffle cone with two flavors and get a second one just like it”). The press release touts the Bally’s Monorail stop as “a convenient way to access the Grand Bazaar Shops.” Yeah, if you don’t hiking the equivalent of city block to get to where you’re going.

* Your trip from McCarran International Airport may become quite different, depending on which of three plans for Maryland Parkway is adopted by Clark County and the City of Las Vegas. (I guess this sticks a fork in that MGM Grand-to-McCarran Monorail connector.) “The primary element of the project would be a side-running transit system along Maryland Parkway between Russell Road and Carson Avenue in downtown Las Vegas, and an extension to the medical district and the UNLV School of Medicine.” The options are A) Enhance — read “widen” — Route 109; B) Bus rapid transit; and C) light rail. We like C because, among other reasons, it adds the least to Sin City’s carbon footprint. However, it will face the headwind of probably being the most expensive option of the three. The RTC has scheduled three towns halls and two open houses for the public to sate its curiosity, between Feb. 20-28. If you’ve got a stake in the issue don’t get left out of the discussion.

* Casinos in Ohio were up 3.5% to $141 million last month, driven by a 7% increase at Buckeye State racinos. Penn National Gaming “still views OH as possessing growth that should outpace other U.S. regional markets, much like it did in 2018,” according to JP Morgan analyst Joseph Greff. Interestingly, although Dan Gilbert‘s casino properties are known to be on the market, his Ohio assets have gone begging (unlike Greektown, a strategic site in a lucrative and tightly restricted market). Hard-luck Jack Cleveland lost 5% to $16 million, while Jack Cincinnati gained 5% to $15 million. Jack Thistledown was up 8% to $10 million.

Hollywood Columbus ticked up 1.5% to $17 million and Hollywood Toledo shed 5% to $14 million. Hard Rock Rocksino gained 4% to lead the state with $19.5 million. Scioto Downs was up 7% to $13 million, Churchill Downs‘ Miami Valley Gaming leapt 14% to $12.5 million, Boyd Gaming‘s Belterra Park rose 5.5% to $6 million, while Hollywood Dayton was up 5.5% to $8 million and Hollywood Mahoning Valley bounced 7% to $9.4 million.

* There’s been a change of policy at the Golden Nugget. Hotel-room deposits are no longer refundable. One S&G source thinks the Nugget is being positioned for a sale. It is the usual course of such things not to be known until they happen. Also, Tilman Fertitta‘s tendencies are those of a buyer not a seller. Perhaps significantly, Credit Suisse analyst Cameron McKnight opines that Caesars Entertainment is undervalued on Wall Street and “there could be strong strategic merit in a combination with a restaurant or gaming company.” Fertitta’s Landry’s conglomerate meets both those criteria. Stranger things have happened in the casino industry: Who would have believed if they were told that Steve Wynn would start the Year of the Pig as a non-person in the casino industry?

* Wynn Macau has announced that it will be “revamped to focus on premium mass players,” showing that even in China there are only so many VIPs to go around. In the meantime, Melco Resorts & Entertainment is celebrating Chinese New Year by busting out raises for all non-managerial employees. That’s the holiday spirit.