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Category Archives: Wynn Resorts
Nevada begins reopening sooner than expected
What do brothels and casinos have in common? (Some would say you get screwed in both.) Neither can reopen during Phase One of Gov. Steve Sisolak‘s multi-stage resumption of business as usual in Nevada, starting tomorrow. Most of the continuing closures … Continue reading
Posted in Caesars Entertainment, Conventions, Cretins, Dining, Economy, Entertainment, G2E, Health, Massachusetts, Nevada, Technology, The Strip, Wynn Resorts
3 Comments
Culinary: Do more; Pent-up demand?
Although Nevada regulators seem to think that companies like Las Vegas Sands and Wynn Resorts are going too far with their reopening protocols the Culinary Union begs to differ. Noting that 15 Culinary members or family members have died of … Continue reading
Posted in Culinary Union, Economy, Health, Las Vegas Sands, Nevada, Regulation, Unite-Here, Wynn Resorts
2 Comments
Everybody out of the pool!; Lean times in Indian Country
We were overly optimistic on when Nevada casinos can reopen. Gov. Steve Sisolak (D) has postponed that move until phase three or four of his four-step plan … which is also contingent on a two-week decline in new Coronavirus cases. … Continue reading
Posted in Economy, Entertainment, Galaxy Entertainment, Hard Rock International, Health, International, Internet gambling, Macau, MGM Resorts International, Michigan, Mohegan Sun, Nevada, New Jersey, Regulation, Tribal, World Series of Poker, Wynn Resorts
Comments Off on Everybody out of the pool!; Lean times in Indian Country
Churchill Downs curbs plans; Murren’s big payday
In its 1Q20 earnings call Churchill Downs announced some significant retrenchments. Although the company is comfortably liquid ($701 million in the kitty) it’s put four expansions on hold: Rivers Casino Des Plaines, an enlargement of Miami Valley Gaming, a $300 … Continue reading
Shakeup at MGM, layoffs at Station
In a late-Friday night of the long knives, MGM Resorts International let go four property presidents. The official nomenclature is “laid-off” but we strongly suspect, given MGM’s history, that this prefaces a streamlining and centralization of authority. Out the door were … Continue reading
Maddox gets ants in his pants; Sports start to stir
As part of the Business Roundtable at the White House, CEO Matt Maddox got to stump for Wynn Resorts‘ mid-pandemic reopening protocol. Maddox said that (amazingly) University Medical Center facilities “don’t have enough people to test. So I’ve signed a deal … Continue reading
Posted in Alex Meruelo, Caesars Entertainment, Culinary Union, Economy, GLPI, Health, Reno, South Korea, Sports, Stanley Ho, The Strip, Wynn Resorts
2 Comments
Fauci on sports; Churchill Downs “on track”
Bad news, sports bettors. Given the absence of widespread testing for Coronavirus, Dr. Anthony Fauci is backpedaling on his projections that professional sports could resume this year. (As Fauci has said elsewhere, a model is just a model; when you … Continue reading
Posted in Australia, Baseball, Churchill Downs, Crown Resorts, Economy, GameCO, Health, International, Internet gambling, Kentucky, Lawrence Ho, Lotteries, Marijuana, Massachusetts, Melco Resorts & Entertainment, Missouri, Nevada, Pennsylvania, Regulation, Scientific Games, Sports, Technology, Wall Street, Wynn Resorts
2 Comments
Vegas: Welcome to the new normal
Phil Ruffin may have jumped the gun with that May 15 reopening date for Treasure Island. Gov. Steve Sisolak (D), without specifying a quarantine-lifting date, has extended a modified version of the Nevada lockdown into May. “We just have not reached … Continue reading
Boyd doing well; What price Vegas?
Boyd Gaming posted net revenues of that were down 18% for 1Q20, reflective of mid-March casino closures. JP Morgan analyst Joseph Greff termed the results ones “that reflected relatively strong trends in the first two months of the quarter.” Since … Continue reading
Posted in Boyd Gaming, California, Churchill Downs, Cosmopolitan, Derek Stevens, Downtown, Economy, Hard Rock International, Health, Horseracing, Las Vegas Sands, LVCVA, Macau, Massachusetts, MGM Resorts International, Pennsylvania, Regulation, Resort fees, The Strip, Wall Street, Wynn Resorts
1 Comment
Las Vegas breakthrough; Shoot the messenger
Las Vegas-based Avidium Labs says it has developed a Covid-19 test that has been validated at laboratories in California and New York. Said CEO Evan Louie, “Our team is diligently working on getting our tests to a wide range of … Continue reading
Sacrificial rites in Las Vegas
Without pointing any fingers of blame, the Coronavirus pandemic has laid bare a feeble testing response and an inability to get a vaccine before the public until year’s end at earliest (which we should have been expecting all along). It’s also … Continue reading
Goodman vs. Sisolak, III; Good news for Virgin Hotel
It’s a good thing that stupidity is not contagious or the mayor of Las Vegas would be Patient Zero. Has Carolyn Goodman (I) been sneaking sips of her husband’s martinis? A seemingly inebriated
Hornbuckle, Sternlicht send conflicting messages; Virgin is ailing
Add MGM Resorts International to the short list of Las Vegas hoteliers announcing reopening strategies. In a five-minute video presentation, CEO William Hornbuckle summarized many of the company’s charitable efforts during the crisis (bolstered by a $500,000 contribution from Dubai … Continue reading
More woes for Penn; “A slog” for Encore Boston
Covid-19 has claimed another casino casualty in the form of Resorts Casino Tunica. Ironically, the Penn National Gaming closure comes after an abortive March which promised to exceed the 2019 in Mississippi. Overall gaming revenues were at $110 million when … Continue reading
Posted in Australia, California, Crown Resorts, Economy, GLPI, history, International, Massachusetts, Mississippi, Penn National, Sports betting, Taxes, Tourism, Wall Street, Wynn Resorts
Comments Off on More woes for Penn; “A slog” for Encore Boston
Sisolak vs. Goodman, Round Two; Wynn’s recovery plan
Nevada Gov. Steve Sisolak (D), while acknowledging that his state’s unemployment-aid infrastructure is swamped (although initial jobless claims declined to 58,641 last week), is taking a steady-as-she-goes approach to reopening the Silver State, relying heavily on medical advice. “This is not … Continue reading
Internet saves Atlantic City; Hope for sports bettors
On March 16, both Atlantic City and Detroit closed their casinos, but the Boardwalk had it somewhat worse, down 62% in the truncated month. (The numbers suggest that visitation may have been tailing off prior to the shutdown.) Atlantic City … Continue reading
Posted in AGA, Atlantic City, Caesars Entertainment, Detroit, DraftKings, Eldorado Resorts, FanDuel, Hard Rock International, Health, Internet gambling, Massachusetts, MGM Resorts International, Mohegan Sun, New Jersey, Ocean Resort, Penn National, Sports, Sports betting, Tilman Fertitta, Tribal, Wynn Resorts
1 Comment
Small casinos still screwed; Hedge funds on the prowl
Evidently someone got American Gaming Association President Bill Miller’s letter to Donald Trump before POTUS’ eyes. We say “evidently” because somebody (probably the White House), in an effort to be Solomonic, persuaded the Small Business Administration to effect a compromise. It … Continue reading
Culinary issues demands; Outlasting Coronavirus
In a Thursday media event, the Culinary Union called for casinos to continue paying their inactivated employees for as long as the Coronavirus crisis lasts. Said Unite-Here President D. Taylor, “The industry, obviously, is a very profitable industry. We don’t understand their … Continue reading
Posted in AGA, Architecture, California, Culinary Union, Donald Trump, Economy, Galaxy Entertainment, Health, Las Vegas Sands, Macau, Marketing, Melco Resorts & Entertainment, MGM Resorts International, Nevada, Regulation, Sociedade de Jogos de Macau, Technology, Tribal, Unite-Here, Wall Street, Wynn Resorts
Comments Off on Culinary issues demands; Outlasting Coronavirus
“Scary” times for casinos; Hotel rates swoon
Donald Trump wants to reopen America for business May 1, come hell or high water. Former Atlantic City casino executive Robert Ambrose acknowledges that “going past 30 days [quarantine] is scary for the entire industry.” According to Ambrose, it ought … Continue reading
Wynn sitting pretty; Trump Plaza damned, doomed
Wynn Resorts can sit out a Coronavirus crisis lasting 1.4 years. That’s how much cash ($3 billion) it’s sitting upon. First-quarter revenues took a 43% hit and are expected to come in somewhere in the $912 million-$969 million range. The … Continue reading