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Category Archives: Culinary Union
Wall Street hearts Caesars; AGA does the right thing
One of our favorite investment banks, JP Morgan, has initiated coverage of Caesars Entertainment, providing us with further transparency of the company’s performance. The price target is a lowly $16/share, which presumably reflects the company’s recent, shall we say, financial … Continue reading
Posted in Atlantic City, Boyd Gaming, Culinary Union, Geoff Freeman, Harrah's, Marketing, Penn National, Sexual misconduct, The Strip, Wall Street, Wynn Resorts
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Strike!; Memo to Congress
If any casino owners were thinking that the Culinary Union might get complacent or fragment in the face of a good Las Vegas economy, they got a rude wakeup call yesterday. Some 99% of Culinary members voted to authorize a … Continue reading
Posted in Culinary Union, Current, Downtown, Economy, Geoff Freeman, Harrah's, history, MGM Mirage, Regulation, Sports, Taxes, Technology, The Strip
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Smashing concept at Palms; Strike vote today
Station Casinos is firing up the marketing machine for the rollout of its $620 million re-do of the Palms. The new ad campaign is branded “From Dust to Gold” and is heavy on the smashing of glitzy objects. Whether gleeful … Continue reading
Posted in Culinary Union, Current, Economy, George Maloof, history, Internet gambling, LVCVA, Marketing, Mississippi, Sports, Station Casinos, The Strip
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Song and dance; Musical chairs at Scientific
Apparently the Culinary Union‘s secret-ballot election is so secret that it is off-limits to members of the media. Instead, the Culinary will stage a pair of dog-and-pony shows tomorrow at which interviews and b-roll filming will be possible. I don’t … Continue reading
Posted in Arizona, Atlantic City, Culinary Union, Election, Internet gambling, Scientific Games, The Strip, Transportation
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Culinary girds for battle; Let’s get it on
Collective-bargaining-agreement talks between the Culinary Union and 34 casinos must not be going well. The Culinary fired off an e-mail blast yesterday, publicizing the fact that it will hold a strike vote May 22 and, should it pass, will hit … Continue reading
Posted in Cosmopolitan, Culinary Union, Current, Dining, Downtown, Entertainment, Florida, Harrah's, history, MGM Mirage, Politics, Seminole Tribe, Sexual misconduct, Taxes, The Strip
1 Comment
Culinary, Caesars clash; Resort fees repel visitors
It’s collective-bargaining time in Las Vegas and the Culinary Union is dickering with Caesars Entertainment through the media. “Having rooms with a ‘Do Not Disturb’ on for days makes me shaky. I am constantly going into a room that staff hasn’t … Continue reading
Hard Rock out, Virgin in; Something of value
Sir Richard Branson hasn’t taken the door keys to the Hard Rock Hotel & Casino yet but he’s already got a lot of fans in the Culinary Union. According to a Culinary press release, both Virgin Hotels and outgoing owner … Continue reading
Posted in Culinary Union, Hard Rock Hotel, Internet gambling, New York, Taxes
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Las Vegas: Whales to the rescue
Las Vegas Strip gaming revenues far overshot projections for last month, finishing 11.5% higher, grossing $603.5 million. This is in large part due to baccarat revenues, a cosmic 82.5% higher on a staggering 59% increase in wagering, “likely reflecting some … Continue reading
Posted in Boulder Strip, Boyd Gaming, California, Culinary Union, Downtown, Economy, Genting, Lake Las Vegas, Lake Tahoe, Mesquite, New York, North Las Vegas, Reno, Station Casinos, The Strip, Tribal, Wall Street
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Savior for Lucky Dragon?; Louisiana city shops for riverboat
Things go from bad to worse at ill-named Lucky Dragon Casino. Already it was looking at a foreclosure auction tomorrow. Now owner Andrew Fonfa has put it in Chapter 11. The move was rationalized on the grounds that letting the … Continue reading
Caesars takes the lead; Fortune Cup comes to Vegas
In the wake of yet another senseless mass shooting, Caesars Entertainment is making guest security a priority (not to imply that it wasn’t earlier). From now on, Caesars security personnel will be empowered to enter guest rooms once every 24 hours, … Continue reading
Negotiation time in Vegas; MGM China trounces expectations
Yes, it’s that exciting moment when the Culinary Union contract comes due and the local flexes its muscle to get results from the casinos. Frankly, we don’t expect much drama this year, given the excellent state of the Las Vegas … Continue reading
Cold January in Atlantic City, Pennsylvania; Bull runs rampant in Vegas
Just when everything seemed settled into a comfortable groove in Atlantic City, January revenues fell off the table, down 12.5%. The silver lining, if it qualifies as that, was that online revenues ($22 million) climbed 17%. Golden Nugget, with 33% … Continue reading
Posted in Animals, Atlantic City, Boyd Gaming, Culinary Union, Current, Dan Gilbert, Detroit, Economy, Eldorado Resorts, Greenwood Racing, Harrah's, Internet gambling, Isle of Capri, MGM Mirage, Mohegan Sun, Neil Bluhm, North Las Vegas, Penn National, Pennsylvania, Pinnacle Entertainment, Sheldon Adelson, Station Casinos, Tilman Fertitta, Tropicana Entertainment
1 Comment
Case Bets
When Las Vegas casinos sit down with the Culinary Union this year expect wireless “panic buttons” to be on the table. Labor unions have been pushing for these as a means of summoning security when their members are assaulted by … Continue reading
Posted in Culinary Union, DFS, Foxwoods, Harrah's, MGM Mirage, Missouri, Mohegan Sun, Sexual misconduct, Sports, Station Casinos
1 Comment
Like a Virgin
Back when Morgans Hotel Group paid a $770 million king’s ransom for the Hard Rock Hotel & Casino it became the poster child for overpriced assets. Now that Brookfield Asset Management has had enough, it fits right in with Virgin Hotels‘ … Continue reading
Posted in Culinary Union, Hard Rock Hotel, Morgans Hotel Group, Nevada, Pennsylvania, Sports, Taxes, TV, Warner Gaming
1 Comment
State of the Strip; Air Area 51
Deutsche Bank analyst Carlo Santarelli met with a number of casino companies recently and came away with a sanguine prospect for the Las Vegas Strip. As for the operators, “Overall, we felt commentary pertaining to the LV locals market, regional … Continue reading
Posted in Affinity Gaming, Ameristar, Atlantic City, Boyd Gaming, Culinary Union, Economy, Eldorado Resorts, Entertainment, Harrah's, Indiana, International, Isle of Capri, Kentucky, Macau, MGM Mirage, Missouri, Penn National, Pennsylvania, Pinnacle Entertainment, Reno, Sports, The Strip, Tropicana Entertainment, Wall Street
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Green Valley Ranch unionizes; Downtown shuttle dinged
Properties in the Station Casinos empire continue to topple like dominoes before Unite-Here. Yesterday Green Valley Ranch became the fourth Station-owned or -managed casino to vote for unionization, with a 78% mandate. “Over the course of organizing, I’ve picketed, protested, and … Continue reading
Posted in Atlantic City, Culinary Union, Downtown, Election, Station Casinos, Technology, Transportation, Unite-Here
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Adelson’s construction boom; Make theirs Manhattan
Las Vegas Sands still can’t be bothered to finish its St. Regis stump on the Strip, but it’s spending capex dollars like there’s no tomorrow in Macao. Sands will throw $700 million into redoing Sands Cotai Central as The Londoner, … Continue reading
Posted in Architecture, Culinary Union, Genting, Law enforcement, Macau, Mandalay Bay Massacre, MGM Mirage, New York, Politics, Sheldon Adelson, Singapore, The Strip, Wall Street
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Culinary clashes with Fertittas (again), girds for Caesars labor talks
Always keeping the pressure on Station Casinos, longtime adversary the Culinary Union has rolled out a new Web site, FertittaMoneyWatch.org. Although its principal mission is to keep tabs on a nascent investment fund, Fertitta Capital, the site also promotes the … Continue reading
Posted in Atlantic City, Colony Capital, Culinary Union, Hard Rock International, Harrah's, Japan, Mandalay Bay Massacre, Massachusetts, MGM Mirage, Penn National, Rhode Island, Sheldon Adelson, Station Casinos, The Strip, Wall Street
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Escalating war at Hard Rock; New slots flood the market
Leadership of the Culinary Union has gone thermonuclear on the Hard Rock Hotel & Casino, filing a National Labor Relations Board complaint against owner Brookfield Asset Management. The latest broadside from the Culinary against Brookfield alleges that “the company has … Continue reading
Posted in Culinary Union, G2E, GameCO, Hard Rock Hotel, Harrah's, Singapore, Technology
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New player in Japan; Culinary slams Trump
Even as the number of front-running Japanese cities for casino developers shrinks, Yokohama and Tokyo having evidently opted out, there’s a dark-horse developer entering the sweepstakes. Macao junket operator Suncity is pledging $10 billion against the prospect of a Japanese … Continue reading
Posted in Culinary Union, Donald Trump, Genting, International, Internet gambling, Japan, Macau, Melco Resorts & Entertainment, Problem gambling, Regulation, The Strip, Vietnam
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