I guess Fitch Ratings doesn’t have the stomach for Boyd Gaming‘s attempt to take over Station Casinos either. It’s downgraded Boyd, whose bonds sank “further into junk status.”
Locals love M Resort, it would appear. The Anthony Marnell III property has been open less than a week and is already hiring an additional 250 staffers — after being swamped by early busness. Instead of the projected 5,000 covers per day, M’s restaurants have been doing closer to 10,000. Also, the number of sign-up stations for the players club will be increased to 20, the casino having realized 80% of its goal of having 25,000 enrollments in March. (This may explain why furniture was being removed from parts of the main floor.)
Another 100 slots will be added and there will be more sightings of the gambler’s best friend: the ATM machine. Obviously, some of the “honeymoon” hubbub will wear off once the curiosity factor has subsided (which is what happened to Red Rock Resort). But good news is at a premium these days, so we shan’t look this gift horse too closely in the mouth. That surely goes double over at MGM Mirage, whose minority stake in M looks more and more like one of that company’s savviest investments — not to mention likely to yield the most bang for the buck.
