Next stop … Richmond?!?; Alabama covets casinos

No fewer than six companies, some of them major, have descended upon Richmond, Virginia, seeking the Dominion State’s last casino license. They are: Bally’s Corp. ($650 million), Cordish Cos. ($600 million), Golden Nugget ($400 million), Pamunkey Indian Tribe ($350 million), Urban One/Pacific Peninsula Entertainment ($517 million), Wind Creek Hospitality ($541 million). The bigger the proposed investment, the more politicians tend to like it, so Bally’s and Cordish have that in their favor. The only proposal we’re tempted to rule out is the Pamunkey Tribe’s, partly because they’ve already got a bite of the apple in Norfolk and partly because of the low level of spend, barely half of Bally’s. (Peninsula Pacific already owns Colonial Downs and the Rosie’s slot routes, so either them that has will get or it will be adjudged to have too much of the pie already.) Bally’s has pitched its project for the same site as Golden Nugget, so we don’t know how that be resolved. Maybe if Tilman Fertitta goes on CNBC and cries about it Bally’s will take pity. Not.

But seriously … if Richmond wants a heavy hitter with brand equity, the Nugget is the ticket. Cordish has shown it can be a money-spinner in other East Coast markets, so it’s got that going for it, while Wind Creek has a more limited but auspicious track record and would build the largest number of hotel rooms (252). Urban One and the Pamunkey are minority-owned, while Fertitta is offering minority businesses 5% of his Richmond stake, which is mighty white of him. (Cordish numbers NFL great Bruce Smith among its minority investors.) The Bally’s and Pamunkey designs are the sexiest, even if the latter looks suspiciously like what the tribe is supposed to be building in Norfolk. Bally’s CEO George Papanier may have committed a faux pas when he condescendingly promised a “vibrant new attraction that is sure to turn Richmond into a dynamic tourist destination.” As though it weren’t already. Perhaps the $100 million entrance fee he’s promised the city will smooth any hurt feelings. Voters get the final say, choosing the winning proposal in a Nov. 2 referendum.

A bill to bring Vegas-style casino gaming to Alabama has momentarily stalled in the Lege but it’s not a completely ad thing. Principal sponsor state Sen. Del Marsh (R) is dickering with colleagues over whether to boost the number of casino licenses from eight to 10 (!). Senate passage looks inevitable but the House is a dicier prospect. Should the bill clear the capitol, it goes to the public, which is hugely supportive according to Gov. Kay Ivey‘s own polling. In addition to creating a state lottery, the bill would authorize racinos at four dog tracks and a Poarch Band of Creek Indians-owned casino in the state’s northern tier, along with upgrading the tribe’s three Wind Creek-branded casinos to Class III standing. Two small, existing casinos-to-be want in on the action, hence Marsh’s pause. Neighboring Georgia had better get the lead out: Alabama is going to leave it at the starting line.

Jottings: Caesars Entertainment has abandoned its South Korea aspirations. CEO Tom Reeg tastelessly commented that the stake was sold for “barbecued pork.” Cultural insensitivity much? … The Great Shutdown has been harder on British casinos than American ones but relief is promised. Casinos will reopen in May, OTBs in April … WynnBet has been approved for online sports betting in Virginia. It will have OSB books affiliated with Martinsville Speedway and Richmond Raceway. It also invented a new euphemism for regulatory scrutiny: “market access opportunities” … New tribal Crosswinds Casino debuted in Kansas last week, doing turn-away business … The first good show to return to the Strip reintroduces itself on March 17. Absinthe re-pitches its tent at Caesars Palace. Tickets start at $149 … Perhaps the new litmus test of Las Vegas’ recovery will be March Madness. Gamblers are expected to descend, beginning March 19, albeit under capacity constraints. “If you’re supporting the home team, everybody’s going crazy, and it’s contagious,” said one bettor, in an infelicitous choice of words … Borgata President Melonie Johnson is profiled by Forbes and not a moment too soon. Here’s to a day when the spectacle of an African-American woman running a megaresort is no longer newsworthy. Says Johnson, “After working in the banking industry and oil and gas, the gaming industry was mesmerizing. I think it’s sexy. I think it’s entertaining.” True that.