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Category Archives: China
Scientific fluent in Chinese; William Hill seeks new horizons
It’s not just for China anymore. Scientific Games is reporting success with its Chinese-themed slots, including in North America. Yes, games with titles like Jin Ji Bao Xi, which doesn’t exactly roll off the tongue but is gaining traction with slot players worldwide. “If … Continue reading
Posted in Cantor Gaming, China, Economy, Environment, Florida, International, Internet gambling, Japan, Macau, MGM Resorts International, Movies, Nevada, North Carolina, Pennsylvania, Philippines, Regulation, Scientific Games, Sexual misconduct, Sports, Sports betting, Technology, The Strip, Tourism, Tribal, Virginia, William Hill
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Wynn Resorts chastened; Living the high life at the Cosmo
Boston is quite a different animal from Las Vegas and Macao—or so Wynn Resorts has learned. Despite healthy table games revenues it is lowering the minimum-bet limits from $50 to $15 at Encore Boston Harbor. In a remarkable mea culpa before … Continue reading
Posted in Animals, China, CityCenter, Cosmopolitan, Downtown, Election, Environment, Hard Rock Hotel, Hard Rock International, Las Vegas Raiders, Lawrence Ho, Macau, Maine, Marijuana, Marketing, Massachusetts, Palms, Penn National, Regulation, Resort fees, Sheldon Adelson, Sports, The Strip, Virginia, Wynn Resorts
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Marching through Georgia; Stevens’ grand vision
“Wynn and MGM are going to Atlanta,” said Georgia state Rep. Al Williams (D), trying allay hopes/fears that megaresorts are going to be sprinkled across the Peachtree State. State Rep. Ron Stephens (R) is particularly bullish, projecting six casinos throwing … Continue reading
Posted in Architecture, Arkansas, China, Derek Stevens, Downtown, e-sports, Environment, G2E, Georgia, International, Internet gambling, Lawrence Ho, Macau, Mandalay Bay Massacre, MGM Resorts International, Oklahoma, Politics, Sports betting, Taxes, The Strip, Tribal
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Second thoughts on Japan; Seneca smackdown
Is it possible that Japan is too rich for the casino industry’s blood? Las Vegas Sands President Rob Goldstein recently pegged the cost of a Japanese megaresort at $12 billion, while Fitch Ratings thinks it will be closer to $15 … Continue reading
Posted in China, Galaxy Entertainment, Genting, International, Japan, Las Vegas Sands, Macau, MGM Resorts International, New York, Taxes, Transportation, Tribal, Wall Street
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Choo-choo to Springfield; Penn hawks Trop
Don’t despair, MGM Springfield. There’s hope yet. Massachusetts politicians are touting the idea of high-speed rail between Boston and Springfield, as many as six rides per day. (Springfield currently must get by with once-a-day Amtrak service.) Gov. Charlie Baker (R) … Continue reading
Posted in China, Connecticut, Donald Trump, Downtown, Election, Foxwoods, Indiana, Louisiana, Maine, Massachusetts, MGM Resorts International, Mohegan Sun, New Hampshire, Penn National, Pennsylvania, Rhode Island, Sexual misconduct, Sheldon Adelson, Sports betting, The Strip, Transportation, TV, Twin River, Wynn Resorts
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Caution on Scientific, Golden; VIPs passé in Macao
Scientific Games must have been less than thrilled with Credit Suisse analyst Ben Combes‘ report on their third quarter. It was headlined, “Solid Quarter, But Leverage Concerns Keep Us on the Sidelines.” Cash flow of $344 million beat the Wall … Continue reading
Posted in California, Canada, China, Dining, Economy, Entertainment, Genting, Golden Gaming, Greenwood Racing, Illinois, International, Internet gambling, Las Vegas Raiders, Lotteries, Macau, MGM Resorts International, Nevada, New York, Penn National, Pennsylvania, PokerStars, Resort fees, Rush Street Gaming, Scientific Games, Sheldon Adelson, The Strip, Tribal, Wall Street, Wynn Resorts
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Quote of the Day
“You’re in China now, sir, where time and life have no value.”—Henry Chang (Warner Oland) in Shanghai Express, written by Jules Furthman. It’s my favorite Marlene Dietrich picture and my wife’s least favorite.
Wynn misses estimates; Sports betting wins in Colorado
Wynn Resorts reported 3Q19 earnings and the headline was Macao. As J.P. Morgan analyst Joseph Greff wrote, “For the first time in a while, we feel that the tough Macau VIP segment is stabilizing/not getting worse, and mass growth there … Continue reading
Posted in China, Colorado, Dining, Election, Full House Resorts, Macau, Massachusetts, Melco Resorts & Entertainment, MGM Resorts International, Mohegan Sun, New Jersey, South Korea, Sports betting, Wall Street, Wynn Resorts
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Clarkson takes Vegas; Penn exudes confidence
It’s about time: Kelly Clarkson is coming to Las Vegas for a residency at Planet Hollywood, running from April 1 of next year through the following September. Having been on the scene for nearly 20 years (already?), Clarkson will have … Continue reading
Posted in China, Current, Economy, Entertainment, Illinois, Louisiana, Massachusetts, Penn National, Slot routes, The Strip, Wall Street, Wynn Resorts
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Louisiana gets soaked; Surrender flag waved
Boyd Gaming warned us that Deep South results would be weak, following two hurricanes, and they didn’t exaggerate. Flood-affected Louisiana casino receipts plummeted 11% in September. Boyd casinos got the worst of it, down 10.5%. New Orleans was flat but … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, China, Churchill Downs, Crown Resorts, Economy, Eldorado Resorts, GLPI, Illinois, Isle of Capri, Japan, Las Vegas Sands, Louisiana, Macau, MGM Resorts International, Money laundering, Penn National, Regulation, Resort fees, Sheldon Adelson, Singapore, The Mob, The Strip, Tilman Fertitta, Wall Street
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Cornyn checkmates tribes; Crown steps in it again
In this corner, two Native American tribes. In that one, Texas Sen. John Cornyn (R). They say he’s playing politics with their casino aspirations. He says they’re trying to make an end run—by way of the U.S. Senate—of their obligation … Continue reading
Posted in Australia, China, Crown Resorts, Environment, Golden Gaming, Hard Rock International, Hooters, Illinois, Laughlin, Law enforcement, Louisiana, Mohegan Sun, Money laundering, Penn National, Pennsylvania, Philippines, Politics, Slot routes, Texas, The Mob, The Strip, Tribal
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Macao economy flounders; Massachusetts bonanza illusory
Macao got a double-barreled blast of bad news. First off, China‘s gross domestic product has slowed to growth rates not seen in almost 30 years. In fact, the R-word (“recession”) was invoked. Slow investment growth was blamed, as was the … Continue reading
Posted in Caesars Entertainment, California, Charity, China, Downtown, Economy, Foxwoods, Las Vegas Raiders, Law enforcement, Macau, Marketing, Massachusetts, MGM Resorts International, Mohegan Sun, Penn National, Politics, Technology, The Strip, Tourism, Transportation, Tribal, Wynn Resorts
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Steve Wynn, get lost
Steve Wynn thinks he’s above the Nevada Gaming Control Board. Perhaps he still imagines himself to be “the most powerful man in Nevada.” Either way, he failed to show up for an NGCB hearing on September 7, 2018, showing his … Continue reading
Wall Street rates Vegas, Macao; Tribes skirmish in Illinois
Credit Suisse analyst Ben Combes turned his attention to three major Las Vegas companies, starting with MGM Resorts International. He’s staying neutral on the giant, writing, “We see Las Vegas as a cyclical but long-term growth market, given strong leverage … Continue reading
Posted in China, Conventions, Economy, Illinois, Indiana, Las Vegas Sands, Macau, MGM Resorts International, Pennsylvania, Politics, Tourism, Transportation, Tribal
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Bad news all around
Oyo, owner of the former Hooters Casino Hotel, is trying to get out of debt by … incurring more debt. The company raised $2 billion in debt last summer, including a $700 million infusion from company founder Ritesh Agarwal. Oyo’s strategy … Continue reading
Posted in China, Colorado, Hooters, International, Internet gambling, Law enforcement, New York, Problem gambling, Sexual misconduct, Station Casinos, Tribal, Wall Street, Washington State
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Caesars: What sauce!; Macao underwhelms
With more than a bit of nerve, Caesars Entertainment is jacking up resort fees again. Caesars Palace and Nobu Hotel will have $51.01 in levies (the highest on the Las Vegas Strip, I think; is this a status thing?), while … Continue reading
Too much, too soon in the East?; The DFS doctor is in
At last, someone is expressing skepticism over the pie-in-the-sky attitude U.S. gaming companies exude toward the Pacific Rim. The inescapable Sheldon Adelson said “ten Las Vegases” would not sate demand, But Union Gaming analysts Grant Govertsen and John DeCree think that … Continue reading
Posted in China, CityCenter, DFS, Economy, International, Japan, Lawrence Ho, MGM Resorts International, Sports, Sports betting, Wall Street
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Adelson power play in Las Vegas, unease in Macao
Sheldon Adelson, it long has been clear, brooks no dissent. He bought the Las Vegas Review-Journal to make it a megaphone for his political views (anybody remember the Marco Rubio presidential campaign, the one the R-J endorsed three times to … Continue reading
Fan loses $506K shirt; Adelson cautions Trump
One incautious Cleveland Browns fan made the wrong kind of headline with a $506,000 bet on the team against the Los Angeles Rams. (The Browns lost, 20-13.) The wager was for the Browns to cover the spread, the most meaningful … Continue reading
Posted in Atlantic City, Caesars Entertainment, China, Donald Trump, e-sports, Eldorado Resorts, Hard Rock International, Mohegan Sun, Ocean Resort, Sheldon Adelson, South Korea, Sports, Sports betting, Tourism
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