Meet Tim Wilmott; Go big or go home

Penn National Gaming‘s COO lays out his company’s operating philosophy in potted form.

Going up. One city will get more casino than expected and another one might. In Tulsa, the tribally owned River Spirit Casino will add four hotel floors but, paradoxically, fewer rooms — down from 500 to 483. It’s part of rebranding the property as a  Margaritaville casino. The expansion/contraction will take the project’s $250 million budget up to $335 million … peanuts by big-city standards.

In Massachusetts, outlying Leominster may have crept one significant step closer to get the state’s sole slot-parlor license. It has quietly set aside space to add a 15-story hotel with 264 keys, optioning an extra 26 acres for the task. I believe that only developer Cordish Gaming has taken this step, a footfall that may very well put it ahead of Penn and Greenwood Racing in their respective markets. Bravo, also, to Cordish for planning to provide on-site health care for its employees and their families. Perhaps because it has to be more image-conscious than most industries, gaming can often be one of the most progressive.

Reinvesting in A.C. Ownership of Bally’s has embarked upon a long, long overdue remake of its casino floor. This is the sort of low-cost, long-term investment of which Caesars Entertainment should be doing more — but amen to them for starting somewhere and in Atlantic City in particular. Incoming Revel Resort CEO Scott Kreeger is calling for a long-term operating philosophy. Since Kreeger is a marketing wonk, I doubt ownership would bring him unless it, too, were in it for the long haul, sale rumors to the contrary.