“While early, it genuinely feels like Macau is very much on the cusp of more meaningful positive inflections, given positive trend changes in October versus prior periods. We also think it’s worthwhile to note that this is against the backdrop of low investor expectations, negative to apathetic investor sentiment, and share price underperformance of the Macau gaming operators, in general,” continued Greff, projecting continued, month-by-month improvement. As for stocks, “We think the risk-rewards skew positively (we think downside is limited if sequential improvements are slow (and don’t think that’ll be the case) and think there is attractive upside” going forward. From your mouth to Beijing‘s ear, sir.
For creative casino architecture, we have to tip our hats to planned Casino Middelkerke on the coast of Belgium. The berm-like casino podium takes its inspiration from sand dunes, while the circular hotel tower arising from the middle is woven with wooden latticework and meant to evoke a boulder, drawing upon the natural features of the area. It’s one of the most inspired casino designs we’ve seen since Marina Bay Sands. The architects explain, “Middelkerke originated on the island of Testerep and was able to grow into an abundant fishing village through the natural protection of a dune and a direct connection to the North Sea via a natural canal. The dunes and water channels of Middelkerke disappeared as a result of urbanization over the last century.
“The construction of the casino building in Middelkerke will function as a tool to renew this historic coastal landscape and give it a contemporary meaning. The building program nestles itself naturally in the landscape. For example, a brand-new event hall, restaurant and casino will be situated behind completely transparent facades under the dune, offering spectacular views of the beach and the sea. The volume of the hotel has a strong visual presence and yet a modest footprint, and stands like a boulder amidst this elevated landscape.” Better still, the hotel-casino will be built from recycled materials, part of an overall focus on sustainability. More power to the minds behind this brainwave. May it inspire other casino designers.
The Nevada Gaming Control Board abruptly finds itself leaderless, thanks to the sudden resignation of Chairwoman Sandra Douglass Morgan, effective Friday. Morgan came in with Gov. Steve Sisolak (D) and leaves him with the problem of both finding an expert new regulator and one who promotes Sisolak’s goal of greater diversity in state government. As for Morgan, she’s departing “to pursue an exciting professional opportunity,” moving to Fidelity National Financial, where she’ll work for Las Vegas Golden Knights owner Bill Foley. As for her legacy, Morgan said, “In the last two years, the Board has ensured that gaming licensees adopted and implemented policies for all types of discrimination and harassment, modernized its regulations to allow cashless wagering at machines and table games, investigated the merger creating the world’s largest casino company [Caesars Entertainment], and adopted COVID-19 mitigation measures.” Sisolak has promised a speedy replacement. We’ll be watching developments on this front with keen interest.
Jottings: An analysis by Global Gaming Business concludes that a REIT spinoff of Venelazzo may be in the works, given the probable lack of takers for its $6 billion asking price. Possible uses of the money include debt retirement, a Tokyo casino (again) and a New York City megaresort. Is Sheldon Adelson ready to pay the Empire State’s 39% tax rate? … It’s all over in Oklahoma and the tribes have won. Gov. Kevin Stitt (R) will not appeal a federal ruling that the state’s gaming compacts rolled over last Jan. 1. We congratulate Stitt on having the grace to know when to stand down … Congratulations to Seminole Hard Rock Hotel & Casino Hollywood, which won two awards at Global Gaming Expo, being named Land-Based Operator of the Year and Property of the Year.
