Gural’s 12,00 employees were getting by on $600/week unemployment stipends from the federal government but that’s gone now and many could get pink-slipped. Would he close permanently? “At some point we run out of money. It would really be a last resort to close permanently,” said Gural, adding that “catastrophic” economic damage to New York might spur Cuomo to action. “The truth of the matter is that Turning Stone has been open for six weeks and we have not seen any spike in that area, and we know our customers are going there. I think if we could get a face-to-face with the governor we could convince him, but we haven’t been able to do that.” And if Gural gets his wish, he’ll put in a plug for mobile sports wagering as an economic Band-Aid. But that will be an even heavier lift, since Cuomo maintains that it requires a constitutional amendment.
For his part, Cuomo is unmoved. He told reporters that del Lago Resort & Casino in Seneca County, Resorts World Catskills, Rivers Casino in Schenectady and Tioga Downs must all remain dark. Why? They’re nonessential businesses, says the guv. (Pretty essential if that’s where you draw your paycheck.) “It’s an issue of density, the likelihood of compliance and the essential nature of the business,” quoth Cuomo. “We’re ready to reopen when the data and science says that we can and we’ll continue to work with state officials,” del Lago General Manager Lance Young rejoined, saying his casino is in full compliance with state and federal health protocols. Said Cuomo, stonily, “You don’t need a casino to maintain survival.”
MGM Resorts International CEO Bill Hornbuckle has a new strategy to explain away negligible revenues: Blame the media. “Covid-related headlines continue to have a meaningful impact on booking trends and cancellations,” he grumbled. Meanwhile, hide the sharp objects from Las Vegas Sands President Rob Goldstein. “We’re in a world of hurt here in terms of Las Vegas,” he lamented, “I’ve never felt more gloomy than I do today about what’s happening in Las Vegas.” He foresees no recovery before next year. Meanwhile, job cuts are coming to Wynncore, previously impervious.
In an exciting development for players and industry alike, Caesars Southern Indiana might have a deep-pocketed new owner: Churchill Downs. CHDN CEO Bill Carstanjen is keeping his own counsel on the matter but it would solidify his hold on the Louisville market, giving CHDN fortresses in both Indiana and Kentucky. “Churchill can protect its backyard, add to its Indiana customer base, and obtain a missing link between its Chicagoland properties and Louisville,” wrote Ed Feigenbaum in Indiana Gaming Insight, noting that it is already licensed as a sports-betting partner upriver at Rising Star. For its part, Caesars Entertainment has committed to have a sales agreement in place by the end of the year. (Ditto two other CZR-owned casinos or racinos.) Caesars S.I. has been a hit with customers ever since it opened its new, land-based casino, a phenomenon that has surely not passed notice by would-be buyers.
British Prime Minister Boris Johnson has been spouting a lot of triumphalist rhetoric about Britannia conquering Coronavirus. Health statistics rather loudly say otherwise, forcing Johnson to backpedal. Among the economic casualties are U.K. casinos, whose reopening got pushed back by two weeks. According to Bloomberg, “Johnson also extended rules on face coverings, making them compulsory in more indoor settings, including museums and cinemas, and said police will enforce compliance from Aug. 8.” At least, unlike some politicians in the former Colonies, Johnson is not blind to scientific evidence, which shows prevalence rates escalating to one in 1,500 last month, up from 1 in 2,000. “We can’t afford to ignore this evidence,” the PM said. “Unless people follow the rules and behave safely, we may need to go further.” Added Chief Medical Officer Chris Whitty, “The idea that we can open up everything and keep the virus under control is clearly wrong. We are at the outer edge of what we can do.” We expect more British casinos to expire before this is done.
Remember “integrity fees” on sports betting? Just when you thought they were dead, here comes the Massachusetts House of Representatives, reviving this insidious concept. Some blame the New England Patriots for being behind this chicanery but the Pats insist they’re innocent. (That’d be a first.) The Democratic-controlled Lege would rip off sports books to the tune of 1% of gross revenue and giving to the team being bet upon (within the Bay State, that is). Writes NBC‘s Mike Florio, “As it stands, sports leagues and teams will make billions from increased interest generally and from business arrangements that specifically create partnership and endorsement opportunities with those who want to leverage an official link to the leagues and teams as a way to lure customers. There’s simply no reason to get one or more points off the top.”
Meanwhile, Illinois Gov. J.B. Pritzker (D) has intervened in that state’s sports-betting rules to require that punters sign up in person before having a flutter on any games. Newly baptized Hawthorne Race Course, which has an equity partnership with PointsBet, is seen as the primary beneficiary.
