Atlantic City notes; MGM Singapore?; Mega-Jottings

Ocean Casino Resort has unveiled its pricey new sports book and our Atlantic City correspondent deems it nothing short of “spectacular! In the center is a circular bar, surrounded by TV screens. There is a set of steps (and elevator) to the Balcony Bar overlooking the main area. Borgata‘s sports book used to be number-one in being attractive. Not any longer.” Our man on the town stayed at Hard Rock Atlantic City and reports “it’s much nicer here at Hard Rock than Bally’s; here you can choose from four or five breakfast places that are open.” Meanwhile, all bets are off for the Golden Nugget and Resorts Atlantic City. They have until Tuesday to reach terms with Unite-Here and if they poor-mouth the union then pickets are a certainty.

Still, it’s easier to get a labor deal in Atlantic City than a supermarket. A Shop Rite that was proposed three years ago at a cost of $18.5 million (due to delusional real estate valuations). Now another $8 million has been added to the price tag that the would-be operator wants a $500,000 “incentive” to deign to open the store. This despite getting rent of $1/year (you read that right). Quoth our reporter, “If the casino people fall for that who knows what will be next: free water, free electricity, free gas, pay the salary of employees, etc, etc.”

If you cross a picket line at Resorts, you’ll find a blue-hued (as opposed to blue-haired) pop-up bar that’s a summer-only amenity. Don’t blow those labor negotiations, Mohegan Sun! Gather ye rosebuds while yet ye may. Resorts also seems to be the place where showbiz careers go to die. When Hard Rock Atlantic City opened, it debuted with a Howie Mandel-branded comedy club. Now Mandel has moved downmarket to Resorts, where he will play a single, August 20 date. Talk about going from the penthouse to the basement …

Trying to crack the only-two-can-play Singapore market, MGM Resorts International approach Genting Singapore with a takeover offer, Bloomberg has learned. The talks didn’t bear fruit but their leakage did wonders for Genting stock, which hopped 9% on the disclosure. MGM’s dickerings were with the Lim family, which controls 53% of Genting shares. As with the recent insolvency of the Lims’ cruise-ship holdings, which set off a wholly unjustified panic in the gaming sector, it’s always important to remember that in Lim Kok Thay‘s house are many mansions. Buying Genting Singapore would bring Resorts World Sentosa, a rich prize, with it but would not obtain Resorts World Las Vegas or Resorts World New York, which are under different roofs. Besides, MGM has made it amply clear it has no further appetite for Las Vegas Strip exposure.

The latest Singaporean data “showed that the recovery was in full swing,” according to Tellimer analyst Nirgunan Tiruchelvam. “Singapore is opening up, and Western gaming companies are looking for emerging-market exposure.” Were MGM to renew its interest and prevail, it would make a formidable foe for Las Vegas Sands. Just the fact that Singapore assets are in play should be enough to set off a feeding frenzy among companies looking to expand their Pacific Rim presence. The Singapore duopoly is enshrined in statute, so you’ll have to buy your way in. They’re not making any more casino licenses.

Casinos in Massachusetts had a fine June, with revenue accelerating 11% from last year to reach $93 million. Encore Boston Harbor gobbled up nearly two-thirds of the market, grossing $60 million, leaping 14% from last year. Market-challenged Plainridge Park was an achiever, too, increasing 6% to $12 million, while MGM Springfield also had good news, up 4.5% to $21 million.

Jottings: Gambling revenue declined markedly in Detroit last month, down 7% to $98.5 million from 2021. MGM Grand Detroit dominated the market with a 49% share, followed by MotorCity‘s 34% and relatively mingy 17% from Hollywood Detroit … Rest in peace, Ivana Trump, who was unwittingly the face of the Las Vegas condo bubble and the better half of a once-famous power couple. Her ex-husband reacted to the news in characteristic fashion … George Democratic Party donor and New York racino owner Jeff Gural has been tapped to lead the Public Buildings Reform Board. Gural will be tasked with disposing of surplus government assets and getting the best price for them … Prospects for Elon Musk‘s Vegas Loop look even better, based on the early success of his Las Vegas Convention Center people mover. It’s shuttled 700,000 conventioneers in the last 18 months … Casino gambling is still a relatively new animal in Arkansas and Southland Casino is just opening the first 89 rooms and suites of its hotel. When fully built out, the hotel will have 300 hotel rooms to go with Southland’s 2,400 slots and 50 table games … Hard Rock International is coveting the Kenosha area for casino development. It just paid $15 million for 60 acres of little-wanted land and now needs to find a tribal partner. It would be the second effort to put a casino in Kenosha, the first having failed in 2015 … Penn National Gaming is moving forward with its all-cashless conversion program. It’s seeking state approval in West Virginia to implement its digital wallet at Hollywood Charles Town next year … The more Americans are exposed to sports betting, the more they like it. A Washington Post/University of Maryland poll shows fully two-thirds of U.S. respondents in favor of further legalization. Those surveyed thought ads for prescription drugs (54%) were more noxious than ones for sports betting (37%) … The Winnebago Tribe of Nebraska and the Nebraska Horsemen’s Benevolent & Protective Association are jointly investing in a $200 million racino in Lincoln. 440 slots at WarHorse Casino will go live this fall, proving once again that horse racing is window dressing at these casinos in drag.

Quote of the Day: “To have courage for whatever comes in life—everything lies in that.”—St. Theresa of Avila