Despite Las Vegas numbers that were deemed disappointing by Las Vegas Sands execs, the company still managed to haul in $3 billion-plus in 2Q17, driven in part by the opening of Parisian in Macao. “I think
you know this quarter was disappointing in terms of the lodging component, which is more and more important in Las Vegas,” COO Rob Goldstein allowed during the conference call, before predicting better results in the back half of the year: “business is picking up and the group business is accelerating, so we’ll do well.”
Table-game revenue at Venelazzo was one of several bright spots, up 16%. While Goldstein talked dollars and cents, CEO Sheldon Adelson couldn’t resist patting himself on the back. “When it opened in August 2007, The Venetian stood alone on Cotai,” he thundered. “Its opening marked
the first effort in my vision to create the Cotai Strip™. I was absolutely committed then and I remain as deeply committed today to continuing to support Macao’s economic diversification and its transformation into Asia’s leader in the tourism business.” Bombast aside, Wall Street reacted perversely to Sands’ success, with LVS stock falling $1.52.
* Penn National Gaming has punted on the Tropicana Las Vegas — again. Now a decision on property improvements has been pushed as far back as June 2018. In the meantime, Robert Irvine‘s new restaurant will have to hold the fort.
* Readers of the Chicago Tribune got a behind-the-scenes look at Everi, favorite son among slot makers. The Windy City location serves Everi just fine, according to Senior Vice President of Game Development Bradley Rose: “This location has 26 casinos around it within four hours. It’s very close to a lot of what we need to see.”
