Is Aria getting a little big for its britches? Nevada Gaming Control Board agents say they were harassed at the 4,000-room casino, specifically when trying to monitor the roulette wheel. “The complaint said two state agents who had not identified themselves were watching high rollers play roulette last October when a supervisor told them that the players did not want to be watched and threatened to call security,” reports Bloomberg. Furthermore, the agents report being told that “observation of the roulette wheel is not welcome.” Now, we all know about gamblers getting backed off tables because their play is too strong. But this is one of several incidents where an MGM Resorts International propery has been accused of trying to intimidate regulators. The gravity of such issues usually results in their being resolved behind the scenes. Now Aria could be looking at a 500-grand fine. MGM is not challenging the Control Board’s version of events and is chalking it up to a rogue employee.
It’s profit-taking season at Wynn Resorts. Over the last month there has been “intensive insider selling” of Wynn stock. CFO Matt Maddox sold off 30,000 shares or 29% of his position. Director Robert Miller practically liquidated his position, selling 10,000 shares — or 80%. By contrast, Executive Vice President John Strzemp and marketing prexy Linda Chen sold relatively few shares and only small percentages. Considering that there was nothing untoward in the latest quarterly report, one would imagine that they’re reaping capital while the stock is riding high.
Expect big things out of Macao, where visitation rose 13% during Lunar New Year. Five-star hotels increased their occupancy rate to 97% and ADRs were $298.
Although he admires the design and business plan for The Cromwell, that doesn’t stop Howard Stutz from being the latest to heap ridicule on its choice of name: “Clearly, Caesars Entertainment Corp. doesn’t want visitors to The Cromwell to gamble, drink, smoke, fornicate or perform any other sinful act at the newly renamed boutique Strip hotel-casino.”
“Aggressive” would describe both the tax expectations ($313 million) and approval timetable (starting next money) for New York State‘s four new casino vacancies. The Empire State is definitely bucking a trend. It’s been a chilly winter for revenue at the state’s racinos and the market may be saturated already. For instance, Traditions at the Glen could have three competitors within 90 minutes drive.
