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- Atlantic City rebounds; Sibella dumped; NFL suspicions
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- David McKee on You can’t fix stupid; Good-bad news on the bayou
- American Gaming Guru on You can’t fix stupid; Good-bad news on the bayou
- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
- David McKee on Sibella scandal spreads; Supremes forestall Seminoles
- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
- David McKee on MGM crippled; Illinois & Indiana report; Bally’s shaky in Chi
- Paul Shanahan on MGM crippled; Illinois & Indiana report; Bally’s shaky in Chi
- ACGambler on MGM limping back; Atlantic City follies; Wall Street Jottings
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Category Archives: Downtown
Caesars’ secret weapon
“Just the right amount of optimism” was how Credit Suisse analyst Ben Combes described Caesars Entertainment’s 1Q19 results. Ex-CEO Mark Frissora‘s purchase of Centaur Gaming continues to pay off, as it was the tentpole of regional-gaming performance. “On a same-store … Continue reading
Up and down the Strip; Land of the not-so-rising Sun
As a determination on its suitability in Massachusetts comes down to the wire (and opening date of Encore Boston Harbor is set for June 23), Wynn Resorts is trying to reap some positive karma. It has abandoned its pay-for-parking policy. … Continue reading
Posted in Caesars Entertainment, Derek Stevens, Downtown, Economy, Entertainment, Japan, Macau, Massachusetts, MGM Resorts International, New Jersey, Resort fees, Sports, Sports betting, The Strip, Wall Street, Wynn Resorts
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Boyd, Churchill Downs garner raves; Indiana governor seduced
Boyd Gaming got a good review on Wall Street today, lauded both for slightly surpassing revenue expectations and for moving quickly to deleverage in the wake of the Valley Forge, Belterra and Ameristar acquisitions. Downtown continues to be Boyd’s bastion … Continue reading
Posted in Ameristar, Boyd Gaming, Caesars Entertainment, California, Charity, Churchill Downs, Current, Derek Stevens, Downtown, Florida, Hawaii, Horseracing, Illinois, Iowa, Kentucky, Louisiana, Maryland, Mississippi, Ohio, Palms, Pennsylvania, Politics, Racinos, Rhode Island, Slot routes, Spectacle Entertainment, Sports betting, Station Casinos, Taxes, Tribal, Wall Street, West Virginia, Westgate LV
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Nevada: Strip weak, locals strong; Busing it to Macao
Las Vegas Strip gambling revenues were down 4% last month to $552 million. Some of that is attributable to an impossible baccarat comparison. In March 2018, baccarat win was up 118%. Last month it was down 56% on 43% less … Continue reading
Posted in Animals, Architecture, Arkansas, Australia, Boulder Strip, Downtown, Lake Tahoe, Laughlin, Lotteries, Macau, Mesquite, Nevada, New Mexico, North Las Vegas, Reno, South Korea, Sports betting, The Strip, Tourism, Transportation, Tribal
1 Comment
War of the Palms; Odds on the Avengers
In its latest salvo against Station Casinos, the Culinary Union has commissioned a study to determine if the Palms will achieve an ROI pleasing to Wall Street. Its conclusion is that the revamped casino-hotel will need to generate cash flow … Continue reading
Posted in Churchill Downs, Culinary Union, Downtown, Kentucky, Movies, Palms, Station Casinos, Terry Caudill, Tribal, Wall Street
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Re-enter the Dragon
Yes, the Lucky Dragon will be coming back, albeit under a new name. Construction magnate Don Ahern has made a $36 million purchase of the luckless casino, which still carries another $50 million in debt. (Hence the bargain price.) Ahern … Continue reading
Cosmopolitan on the block (again)
Blackstone Group‘s tenure at The Cosmopolitan of Las Vegas will be remarkably brief (although nothing in the gaming industry will ever match the extreme brevity of the abortive Wynn Resorts/Crown Resorts merger). Bloomberg reports that Blackstone is exploring “strategic options” … Continue reading
Posted in AGA, Caesars Entertainment, CityCenter, Cosmopolitan, Downtown, history, Las Vegas Sands, Macau, Marketing, Melco Resorts & Entertainment, MGM Resorts International, Politics, Sports betting, Tamares Group, The Strip, TV, Wall Street, Wynn Resorts
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Circa rustles up $$; Wynn slammed
Despite some distant jingoism in the halls of Congress, Derek Stevens in still putting his money—so to speak—on EB-5 investors. This Web site opens with a slide show of a soon-to-be Downtown icon, Circa, followed by the copy, “We have chosen … Continue reading
Posted in Derek Stevens, Downtown, Lucky Dragon, Massachusetts, MGM Resorts International, Movies, Regulation, Rhode Island, Sexual misconduct, SLS Las Vegas, Sports, Sports betting, Steve Wynn, Taxes, The Strip, Wall Street, Wynn Resorts
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Adelson’s big trade-off; Nation bans casinos; Vegas hotel reopens
Not having gotten his way regarding a Las Vegas stadium, Sheldon Adelson turned to the government of Singapore and can now announce a major success. He will build a new hotel, a “state of the art” arena and additional convention … Continue reading
Posted in Architecture, Derek Stevens, Downtown, Genting, International, Las Vegas Sands, Law enforcement, Singapore, Taxes, Terry Caudill, Wall Street
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West Virginia joins ‘Net-bet pack; Conventioneers flood the Strip
And then there were five. Internet gambling was legalized in West Virginia this week, as was i-poker. Gov. Jim Justice (R) appears to have been opposed to the law—or to giving political opponents a stick to beat him with—so he … Continue reading
Baccarat undercuts the Strip; Japan shows its hand
Is our trade war with China inflicting collateral damage on the Las Vegas Strip? That’s one theory for anemic Chinese New Year visitation that led to a 2% downturn in gaming receipts last month. By contrast, last year saw an … Continue reading
Posted in Boulder Strip, Downtown, Economy, Internet gambling, Japan, Lake Tahoe, Laughlin, Mesquite, MGM Resorts International, Nevada, North Las Vegas, Philippines, Problem gambling, Regulation, Reno, Taxes, The Strip, Wendover
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Heavy action prophesied for March Madness; Death at Bellagio
“Unlike any other sporting event in the country, March Madness attracts millions who fill out brackets, make casual bets with friends or wager at a legal sports book, which Americans can now do more than ever before.” With those words … Continue reading
MGM: No robots here; Resort fees fester
Our post yesterday about “robot” bartenders coming to MGM Resorts International properties on the Las Vegas Strip struck a nerve in the lion’s den. Understandably concerned with the mental image of customers expecting to get their drinks from a Cylon, … Continue reading
Stevens’ acumen questioned; Deejay era on downturn
A report has surfaced questioning the financial viability of $800 million Circa (written back when it was still 18 Fremont). In what seems like a preliminary shot fired across Derek Stevens‘ bow by Unite-Here, it asserts ” the project is … Continue reading
Iowa weighs sports betting; Miller time
Iowa casinos and DFS would be the winners if a new bill, which just passed out of a Senate State Government Committee, becomes law. Casinos would be given the right to operate terrestrial, mobile and online sports betting, and DFS would … Continue reading
Posted in AGA, DFS, Downtown, Economy, Horseracing, Iowa, Massachusetts, MGM Resorts International, Oklahoma, Politics, Racinos, Regulation, Sexual misconduct, Sports, Sports betting, Taxes, The Mob, The Strip, Tribal, TV, William Hill, Wynn Resorts
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Clouds over Macao; What Sheldon wants, Sheldon gets
Cameron McKnight of Credit Suisse is projecting gambling-revenue flatness in Macao (despite higher tax returns) through 2019 and into 2020, despite a record amount of available credit in China. “Stronger credit data may partially assuage China macro concerns, as it … Continue reading
A tale of two Fertittas
Golden Nugget owner Tilman Fertitta is facing trouble close to home. $30.5 million in liens have been levied for unpaid work done at $400 million The Post Oak hotel in Houston. Like Sheldon Adelson, Fertitta blames the primary contractor and … Continue reading
Posted in AGA, Derek Stevens, Downtown, Economy, GLPI, Louisiana, MGM Resorts International, Palms, Problem gambling, Reno, Sports, Station Casinos, Texas, Tilman Fertitta, Wall Street
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Super Bowl hits and misses; Sigma Derby rides again
Super Bowl LIII is over and viewers are left to ponder such existential questions as “Is Julian Edelman a Hall of Famer?” and “Why are all NFL kickers bald?” The New England Patriots did the most important thing, i.e. covering the … Continue reading
Posted in Derek Stevens, Downtown, Entertainment, history, International, Marketing, MGM Resorts International, Paragon Gaming, Sigma Derby, Sports, Sports betting, Technology, TV
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Vegas: Locals outperform the Strip; Sisolak nuked
Nevada gaming revenue was up 4% last month, just a few hundred thousand shy of an even billion dollars, even though the Las Vegas Strip was relatively stagnant. Strong baccarat win by the house (jumping 14.5%) was offset by 3% … Continue reading
Posted in AGA, Aristocrat, Boulder Strip, Donald Trump, Downtown, Environment, IGT, Lake Tahoe, Laughlin, Mesquite, Nevada, Regulation, Reno, Scientific Games, South Carolina, Sports, Sports betting, The Strip, Wall Street
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Oh, what a tangled web we weave …
… when we call our new casino Circa. An S&G source has done some research on the matter and found that “Circa” is trademarked to Michigan company NMH Acquisition. The Patent Office gave Circa “trademark serial number of 87960443.” NMH … Continue reading
Posted in AGA, CityCenter, Dan Lee, Derek Stevens, Downtown, International, MGM Resorts International, Politics, Regulation, Sports betting
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