As of today, Hard Rock Rocksino, in Ohio, is official part of MGM Growth Properties. However, until MGP finds a new tenant, Hard Rock International will continue to run the place. It’s a win-win for Hard Rock and MGP. For the latter it’s $1 billion well spent.
Regarding MGM Resorts International, stock-picker Joseph Greff at JP Morgan thinks it’s time to buy, despite an “uninspiring” investor presentation, along with “disappointing” Macao revenue. 
“We would characterize sentiment as bouncing along the bottom here, with expectations also reasonably/incredibly low.” However … “We believe most of the issues that have caused 2018’s underperformance are transitory, and the picture is bright(er) heading into 2019,” thanks to the debut of Park MGM and projected improvement in MGM Cotai numbers, among other factors. “Mandalay Bay also has easy comparisons in 2019 and therefore should experience some growth.” Greff has set a target of $130 per available room for Park MGM (we think MGM expects higher) and sees “stable LV Strip fundamentals” next year.
As for the Las Vegas Strip in general, Greff describes the fundamentals as “generally sound” and attributes “flattish visitation” on a preoccupation with “profitable customers rather than simply filling rooms, in our view.” As for ever-vexing Resorts World Las Vegas he reports “not much progress.” With Resorts World Catskills struggling, Genting Group badly needs the ‘win’ that Las Vegas could give it.
* If you haven’t made it to Hard Rock Atlantic City, here’s what you can expect to see. “The collection of rare memorabilia items that are displayed throughout Hard Rock Hotel & Casino Atlantic City is tied to musicians from New Jersey, along with those who 
have a history of performing in our area,” said President Matt Harkness. That — of course! — includes a bandana and denim jacket formerly worn by homeboy Bruce Springsteen. There’s everything from junk mail sent to Kurt Cobain to Roy Orbison‘s sunglasses (I wouldn’t mind having those). But for many, the icon of icons will be Michael Jackson‘s famous, bejeweled glove, a donation from Jackson himself. It’s not only rock ‘n roll: A piano formerly belonging to Frank Sinatra is on the way.
* It takes 84,859 signatures from registered voters to get an initiative on an Arkansas ballot. Promoters of a pro-casino initiative, Driving Arkansas Forward, who have already been bombarding the airwaves with ads, got 96,170. They’re pushing a constitution amendment to create four casinos, one each in Pope and Jefferson counties, along with parimutuels in West Memphis (just what Tunica needs) and Hot Springs. Driving Arkansas Forward credits its media campaign with accelerating the signature-gathering, as its canvassers had less ‘splainin’ to do.
* If you’re missing the fine-dining option provided by Smith & Wollensky steakhouse, fret not: The Vegas institution will be relocated to Venelazzo, where it will be part of Grand Canal Shoppes. S&W is characterizing it as a right-sizing. “The casinos [in 1998] really didn’t have those 11 or 12 dining options they all 
have now, so building 30,000 square feet with those immense private dining spaces was the right thing to do at that time,” said Smith & Wollensky Restaurant Group CEO and President Michael Feighery, who opened the restaurant as general manager. S&W will be moving into the space formerly occupied by Zefferino. Feighery is looking forward to capitalizing on the critical mass created by two hotels and Sands Expo Center to drive foot traffic into the restaurant’s new location.
However, Wolfgang Puck is already on the scene with one steakhouse, Cut, but another potential rival, Carnevino, is biting the dust. Feighery’s will be the bigger venue, though, filling two stories and able to seat 444 diners. (Fewer if Mr. Creosote shows up.) Said Feighery, “You’re going to be familiar with a lot of the elements and notice the changes, but we also love to pay homage to the city and be part of the community we’re in. This will be a bit lighter and more accessible, a little less like the masculine steakhouse of the past.” But if you’re at Venelazzo and have an appetite for steak, Cut will be your short-term option: S&W doesn’t reopen until March 1, 2019.
