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Category Archives: Economy
Up in Louisiana, down in Pennsylvania; Close Las Vegas?
It’s an extraordinary circumstance when a 19.5% drop in gambling revenue is a cause for celebration. But it happened in Louisiana, suggesting a stronger-than-expected comeback from the casino shutdown. Given that there was one fewer weekend day last month, the … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Donald Trump, Economy, Eldorado Resorts, FanDuel, Golden Nugget, Health, Internet gambling, Louisiana, Mohegan Sun, Nevada, Penn National, Pennsylvania, Rush Street Gaming, Sports betting, Tribal
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Cosmofusion; MGM Springfield wants new deal
There are some mighty mixed signals coming out of The Cosmopolitan of Las Vegas. The megaresort informed its thousands of employees that no layoffs are planned. However, it wrote the state that “The layoff and furloughs which began on or … Continue reading
Las Vegas: The first shall be last
Don’t stay up late waiting for business in Las Vegas to return to “normal” levels. Sin City is uniquely vulnerable to downturns in the U.S. economy (think of the Great Recession) and a trailing indicator of gambling’s health. The prime … Continue reading
Posted in Alabama, Aristocrat, Atlantic City, Boulder Strip, Boyd Gaming, China, Conventions, Downtown, Economy, Eldorado Resorts, Florida, G2E, Hard Rock International, Health, Las Vegas Sands, LVCVA, Macau, Melco Resorts & Entertainment, Ohio, Penn National, Technology, The Strip, Transportation, Wall Street, Wynn Resorts
1 Comment
Encore Boston reopens and other good news
“It put a big smile on my face,” customer Marcia Hamilton said of Encore Boston Harbor‘s reopening last Sunday. We’ll have to take the smile on faith because employees and customers alike are required to wear PPE masks. Still, Encore … Continue reading
Mixed signals from Vegas
Reading the Las Vegas tea leaves on a daily basis has one oscillating between seeing a faster-than-anticipated or slower-than-expected recovery. Case in point: Penn National Gaming‘s lack of plans to reopen the Tropicana Las Vegas. It’s worth remembering that Penn … Continue reading
Posted in Caesars Entertainment, Derek Stevens, Donald Trump, Economy, Entertainment, GLPI, Health, M Resort, Nevada, Penn National, Phil Ruffin, Reno, Sahara, Technology, The Strip
1 Comment
Canary in the coal mine
In Asian cultures, safety protocols like wearing a face mask are routine—they’ve dealt with viral outbreaks in the past, it’s not unusual,” gaming consultant Andrew Klebanow told Global Gaming News. And though Covid-19 cases spiked at 17,000 in Singapore, Klebanow’s … Continue reading
Quote of the Day
“You’re not going to die from this.”—Tilman Fertitta. 130,902 deaths later …
Posted in Economy, Health, Tilman Fertitta
1 Comment
Big Bellagio blunder
Given the dearth of major-league sports in the U.S., Nevada sports books have reluctantly turned to South Korean and Chinese baseball for betting fodder. This led to a novice mistake in the wee hours of June 28, when one could … Continue reading
May’s cupboard empty
With Nevada casinos closed all May, gaming revenue was a ghost of its former self, down 99.5%, kept alive by mobile sports wagering and online poker. Silver State casinos grossed just under $6 million. Reno, Laughlin and Lake Tahoe all … Continue reading
Posted in Caesars Entertainment, Cirque du Soleil, Derek Stevens, Downtown, Economy, Eldorado Resorts, G2E, Hard Rock International, Health, Internet gambling, Lake Tahoe, Laughlin, Law enforcement, Louisiana, MGM Resorts International, Ohio, Phil Ruffin, Politics, Regulation, Reno, Technology, The Strip, Tilman Fertitta, Tourism, Transportation, Wall Street
2 Comments
See Vegas and die
Phil Ruffin and Terry Caudill are singled out as bad actors in a sweeping new lawsuit being filed even as we speak by the Culinary Union. It alleges, among other things, that neither Circus Circus nor the Four Queens nor … Continue reading
Fourth of July a damp squib?
Las Vegas had better prepare for Fourth of July disappointment, at least if WalletHub is correct. A survey of consumers found that 78% will be spending less this Fourth, 75% have modified their summer plans and 38% have canceled them … Continue reading
Posted in AGA, Baseball, Cosmopolitan, Culinary Union, Economy, Entertainment, Health, Regulation, Sports betting, William Hill
3 Comments
Tribes in distress
“Gaming for the most part is what we survive on. In a lot of cases, if we don’t have gaming we don’t have dollars. We don’t have a tax base.” So says National Indian Gaming Association Chairman Ernie Stevens Jr. … Continue reading
Posted in California, Card rooms, Economy, GLPI, Golden Nugget, Health, Illinois, Internet gambling, Politics, Regulation, Sports betting, Tribal, Wisconsin
1 Comment
Regional casinos outpace Las Vegas
JP Morgan analyst Joseph Greff has been keeping a watching brief on reopening trends at casinos around the country, mainly in Nevada, Louisiana, Mississippi, Missouri and Iowa. He reports that “average daily casino traffic across reopened regional casinos for the … Continue reading
Posted in Cosmopolitan, Dining, Economy, Health, Louisiana, Mississippi, Missouri, Nevada, Sports
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Penn, Boyd bushwhack jobs
There’s still no timeline for Tropicana Las Vegas to reopen, certainly not by mid-July. That news comes as Penn National Gaming slashed 2,575 jobs over eight states. Evidently Penn doesn’t expect the current surge in business to last, as most … Continue reading
Wear that mask!
There are occasions on which we hate to be proven right but the current state of events in Las Vegas is one of them. For instance, two individuals have tested positive for Covid-19 at the Flamingo Las Vegas. Since the … Continue reading
Posted in Arizona, Caesars Entertainment, Culinary Union, Downtown, Economy, Health, MGM Resorts International, Regulation, Taxes, Tribal, TV
4 Comments
Notes from hither and yon
In an effort to stay ahead of Coronavirus, resorts in Las Vegas are bringing back a chilled-out version of the traditional pool party. Some will require reservations for admission, and non-guests will have to book daybeds and cabañas. Out: DJs. … Continue reading
Death wish in Las Vegas
First, the good news. “Low and friendly.” Those are how room prices on the Las Vegas Strip are described. Resorts in Las Vegas opened to (restricted) capacity bookings and attendance. Since this is Vegas Lite, one in which fewer rooms … Continue reading
Posted in Architecture, Conventions, Cosmopolitan, Derek Stevens, Economy, Eldorado Resorts, Health, MGM Resorts International, Real Estate, The Strip, Tourism, Transportation, Wall Street
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Four Queens, 7:30 p.m., Friday
Posted in Downtown, Economy, Terry Caudill
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‘Net bets carry Atlantic City; Clubs face crisis
Internet casinos are in New Jersey to stay. They grossed $86 million last month, their highest amount ever. That’s 135% more than a year ago. Golden Nugget was tops with $29 million, followed by Resorts Digital ($18 million) and Borgata … Continue reading
Posted in Atlantic City, Caesars Entertainment, Carl Icahn, Downtown, DraftKings, Economy, Entertainment, Florida, Golden Nugget, Health, Horseracing, International, Internet gambling, Las Vegas Sands, LVCVA, MGM Resorts International, Mississippi, Morris Bailey, New Jersey, New York, Ohio, Resorts World LV, Seminole Tribe, Sports, Sports betting, Steve Wynn, Taxes, The Strip, Tourism, Transportation, Wynn Resorts
2 Comments
“Crisis” greed spreads; All that glitters is Golden
When we first heard about a Las Vegas Strip restaurant tacking an “optional” Covid-19 fee onto its diners’ checks we knew that A) this was the beginning of a bad thing and B) it would spread like a virus. So … Continue reading
Posted in Caesars Entertainment, Dining, Economy, Golden Gaming, Health, Indiana, Las Vegas Raiders, Laughlin, Maryland, Resort fees, Slot routes, Taxes, The Strip, Wall Street
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