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Category Archives: Wynn Resorts
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
Churchill Downs pwns Caesars; Kentucky covets casinos
Cold weather helped chill Indiana casino revenues last month, down 6%. The Hoosier State’s casinos and racinos grossed $154 million. Horseshoe Southern Indiana continues to bleed business to Churchill Downs‘ Derby City, hemorrhaging 10% to $16.5 million. Full House Resorts … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, DFS, e-sports, Eldorado Resorts, Full House Resorts, Indiana, Internet gambling, Kentucky, Macau, Marketing, Massachusetts, MGM Resorts International, New York, Penn National, Politics, Racinos, Sports, Sports betting, Taxes, Technology, Tilman Fertitta, Wall Street, Wynn Resorts
1 Comment
Monorail to the rescue of Grand Bazaar; Golden Nugget on the block?
We thought the Las Vegas Monorail was the biggest charity case on the Las Vegas Strip. However, the Grand Bazaar Shops — where Strip retail finally jumped the shark — is apparently even worse off. We say this because of … Continue reading
So long, Total Rewards; MGM goes to Yonkers
Despite one less weekend day than 2017, December was good for the Las Vegas Strip. Visitation was up over 2% and room revenues leapt 16% to an average of $104/room. This was particularly impressive given a 23% decline in convention … Continue reading
Posted in Caesars Entertainment, Economy, Harrah's, International, Internet gambling, Macau, Marketing, Massachusetts, MGM Resorts International, New York, Regulation, Sexual misconduct, Steve Wynn, Taxes, The Strip, Tourism, Transportation, Wynn Resorts
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Wynn finishes strong
If Wynn Resorts wanted to change the subject of conversation, at least on Wall Street, away from the damning Nevada Gaming Control Board report on sexual harassment it found a magical elixir in its fourth-quarter report. Net revenue at Wynncore … Continue reading
Posted in Caesars Entertainment, Economy, Las Vegas Sands, Macau, Massachusetts, Regulation, Tourism, Wall Street, Wynn Resorts
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Wynn: The settlement; Paddock explained, somewhat
We’re into Day Two of the Wynn Resorts settlement with the Nevada Gaming Control Board and some details are starting to make their way into the public discourse. Forbes enumerates the charges and they include: “Employee 1 claimed that in … Continue reading
This just in: Wynn fined, settles with Resorts World
Although it seemed as though the Nevada Gaming Control Board had forgotten about its investigation of sexual harassment at Wynn Resorts, it was merely running silent, running deep. It came to the surface today with a settlement agreement whereby Wynn … Continue reading
Posted in Architecture, Genting, Regulation, Sexual misconduct, Steve Wynn, The Strip, Wynn Resorts
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Louisiana: What happened?; Wynn wins historic victory
While most jurisdictions performed impressively last month, Louisiana was down 2.5%. How to account for the slippage? True, the drive-in driven Shreveport/Bossier City market was off 1.5%. But the real culprit was Baton Rouge, toppling 15.5% and ravaged by the new … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Dining, Eldorado Resorts, Environment, GLPI, Greenwood Racing, International, Las Vegas Sands, Louisiana, Macau, Penn National, Pennsylvania, Rush Street Gaming, Sports betting, Tilman Fertitta, Tourism, Vietnam, Wall Street, William Hill, Wynn Resorts
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Adelson sparks firestorm
When Bill Miller was appointed CEO of the American Gaming Association, we speculated that his relationship with Sheldon Adelson would be “less strained” than that of predecessor Geoff Freeman. Indeed, that already seems to be the case. It would account … Continue reading
Posted in AGA, Carl Icahn, Churchill Downs, Delaware, DFS, Eldorado Resorts, Florida, Geoff Freeman, Illinois, Internet gambling, Massachusetts, MGM Resorts International, Nevada, New Jersey, New York, Politics, Racinos, Regulation, Sheldon Adelson, Sports, Sports betting, Steve Wynn, Tropicana Entertainment, Wall Street, William Hill, Wynn Resorts
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Cuomo bets on sports; Resorts World LV disowns own designs
It looks as though New York State will split the baby on sports wagering: Casino-based betting in 2019, mobile wagering in 2022. Gov. Andrew Cuomo (D) has baked what Credit Suisse analyst Cameron McKnight calls “a small amount of sports … Continue reading
Posted in Architecture, Baseball, DFS, Genting, New Jersey, New York, Problem gambling, Sports betting, The Strip, Wall Street, William Hill, Wynn Resorts
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Clouded future for Ocean; Wynn keeps fighting
While the mainstream media has gone quiet over the sudden change of ownership at Ocean Resort, Global Gaming Business is reporting that lead owner Bruce Deifik didn’t leave voluntarily but was kicked out by other investors. Luxor Capital Group supposedly … Continue reading
MGM gets new admirer; Okada busted again
JP Morgan has initiated analyst-focus coverage of MGM Resorts International “as we see an increasingly favorable setup for 2019” that includes “relatively low expectations in Las Vegas.” Morgan analyst Joseph Greff applauded the upcoming pogrom of the MGM workforce, as well … Continue reading
Posted in Caesars Entertainment, Detroit, Entertainment, Foxwoods, Kazuo Okada, Law enforcement, Louisiana, Macau, Massachusetts, MGM Resorts International, Mohegan Sun, New York, Ohio, Penn National, Philippines, Regulation, Rhode Island, Sports, Steve Wynn, The Strip, Wall Street, Wynn Resorts
1 Comment
Caesars fights human trafficking; Modified rapture in Macao
“Victims of human trafficking, including those involved in the commercial sex industry, do not choose to participate. Rather, they are manipulated, brainwashed and forced based on unforeseen and, oftentimes, seemingly inescapable circumstances. We are deeply committed to eliminating sex trafficking and all … Continue reading
Reid rages against the dying of the light; Michigan nixes Net bets
Nevada‘s most famous gaming regulator is dying. Harry Reid has pancreatic cancer and we’d say he’s throwing verbal restraint to the winds now that he has nothing to lose — but that has always been Reid’s style. The New York … Continue reading
Posted in AGA, Caesars Entertainment, Donald Trump, Harry Reid, history, Internet gambling, Japan, Massachusetts, Politics, Regulation, Sexual misconduct, Sports, Sports betting, Tourism, Transportation, Wynn Resorts
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Berman returns; All-star New Year’s Eve
Don’t say you can’t teach an old dog new tricks. Lyle Berman, 77, who was once in on the ground floor of tribal gaming is now purchasing two companies with the purpose of merging them to form an e-sports major … Continue reading
Posted in Architecture, Caesars Entertainment, California, Downtown, e-sports, Economy, Entertainment, Genting, International, Lyle Berman, Marketing, MGM Resorts International, Nevada, PokerStars, Security, Sports, Sports betting, The Strip, Wynn Resorts
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Strip outstrips Nevada; Trouble for Resorts World
Business was booming last month on the Las Vegas Strip. Gaming revenues shot up 10% to $534.5 million. Statewide, the increase was 6.5% to $967 million. Driving those Strip numbers was a mind-boggling 53% explosion in baccarat win on 26% … Continue reading
Posted in Architecture, Boulder Strip, Downtown, Economy, Genting, Lake Tahoe, Laughlin, Massachusetts, Mesquite, Nevada, North Las Vegas, Reno, The Strip, Wall Street, Wynn Resorts
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Wynn at risk; Christmas stocking for Station, Boyd, etc.
Steve Wynn might want to think twice about buying back into Wynn Resorts. Stock analyst Frank Fantini thinks the company’s Macao holdings might be made an example in the U.S./China trade war. Fantini believes Beijing could target “companies that are not … Continue reading
Posted in Boyd Gaming, Economy, Golden Gaming, Macau, MGM Resorts International, Nevada, Pansy Ho, Reno, Sheldon Adelson, Station Casinos, Steve Wynn, Wall Street, Wynn Resorts
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Christmas in Vegas; Study: Millennials’ impact overrated
I don’t believe this. WalletHub has ranked Las Vegas the second-best city in which to celebrate Christmas. Don’t get me wrong but I can’t think of anything more dispiriting than to spend Jesus’ birthday surrounded by slot machines instead of … Continue reading
Posted in Boulder Strip, Boyd Gaming, Economy, Entertainment, Genting, Macau, Marketing, The Strip, Wynn Resorts
2 Comments
Atlantic City sparks controversy; Resort fee change at Cosmo
Faced with a 9% drop in operating profit at Atlantic City casinos, pundits are squaring off as to whether this means doom for the laggards. Analyst Tony Marino told The Press of Atlantic City that it “might be wise to … Continue reading
Scientific pays up; Clouds over Macao
“While we firmly believe that the jury decision was wrong, we are pleased with the outcome of the settlement and that this matter will be resolved for good,” said Scientific Games Chief Legal Officer James Sottile, trying to spin a … Continue reading