Miller: Approve stimulus bill; A $7.5 billion Vegas “scam”?

There’s a new failsino in town. True, Atari Hotels came and went in the blink of an eye. Now we have Bluetech Park Las Vegas, which promises to break ground this month (yes, 2020) on a ‘digital city’ that will cost $7.5 billion. That’s not a typo. The sprawling campus would cost almost as much as the (largely written-off) CityCenter and more than any casino megaresort in the world save Marina Bay Sands. “The net-zero buildings within their own insular mini-city will feature automated multi-functional designs, renewable energies from solar/wind/water/kinetic, autonomous vehicles, artificial intelligence (AI), augmented reality, Internet of Things (IoT), robotics, supertrees, and self-healing concrete structures,” reads the press release.

Where’s the money coming from? Conveniently unspecified “leading institutional investors and private equity investments.” It’s to be finished by 2026. Cisco and Martin-Harris Construction are among the partner names invoked in connection with this “new high-tech biome to the desert valley.” Drones and artificial intelligence are to aid in the construction. The lead developer is one Khusrow Roohani and he’s at least persuaded Las Vegas Laborers Union Local 872 of his vision. Union Business Manager Tommy White said, in part, “This is going to be a project unlike any other and it is great to see Las Vegas step to the forefront.” Never mind the lack of such specifics as market demand or capitalization, let alone the dodgy principals. Roohani says he has two parcels on South Las Vegas Boulevard, totalling 210 acres, but that was over a year ago.

Not everybody has been snowed by Roohani. Clark County spokesman Erik Papa told the Miami Herald that “They would not be building in the city of Las Vegas, but technically in unincorporated Clark County. As of today, no applications have been submitted for consideration by the county. In order to build what they are planning, they would need planning approvals and would need to have the appropriate zoning and land use.” A Florida businessman who called Bluetech Park a “scam” received a $5,000 offer for his silence. And you know it’s a bad day when sunshiny Tom Letizia bails on you. Normally we’d say don’t take any wooden nickels but that’s the only form of investment this vaporware appears to deserve.

Mickey Mouse is talking out of both sides of his mouth when it comes to gambling. Walt Disney Co. has successfully fought to keep casinos out of Orlando. However, due it its ownership of ESPN, it is waist-deep in sports-betting coverage and through its acquisition of 20th Century Fox inherited a piece of DraftKings. The Mouse House even has an ESPN studio inside The Linq. After the NBA finals were played at Disney World, the megalith is said to be edging closer to openly embracing sports betting, possibly by making a false distinction between it and other forms of wagering. Analysts and industry insiders certainly think so. As The Innovation Group‘s Brian Wyman opines, “this is a significantly different question than casino expansion in Florida. I suspect Disney’s position there is less about a moral opposition to gaming and more about trying to retain their share of visitors’ entertainment wallets.” Because with Disney it’s always about getting more of your money, whether it’s a $30 uncharge to stream Mulan or sidestepping into the gaming sphere.

Speaking of sports betting, Colorado hit a new high with $231 million in November handle, making it the fifth state to pass the $225 million mark in wagering. Revenue was $18.5 million. “With five games in November, the [Denver] Broncos gave a boost to sportsbooks,” said PlayUSA analyst Dustin Gouker. “Almost every legal jurisdiction in the U.S. has been growing this fall. But a common theme among them all is that a local NFL team can really make a significant difference in a month’s handle, and that is particularly true in Colorado.” Online wagering represented 98% of overall handle and Russian table tennis continues to outperform, generating $12.5 million in bets. $88.5 million was bet on the NFL and $22 million on college ball, as the Colorado Buffalos continued to roam. As for the continued interest in table tennis, analysts attribute it to Colorado having gone live during the worst of the pandemic, with no major-league sports available upon which to bet.

Bidding to implode Trump Plaza is heating up. So far it has raised $53,000 for the Boys & Girls Club of Atlantic City. One punter from St. Louis has started a $1 million GoFundMe drive to have presidential paramour Stormy Daniels push the button on the Trump Dump. We’re all for it but lack the wherewithal to contribute.

Jottings: Encore Boston Harbor, MGM Springfield and Plainridge Park will all have to operate at 25% capacity for the next two weeks, as decreed by Gov. Charlie Baker (R). In the meantime, Encore President Brian Gullbrants has to assure his employees that the megaresort is not on the market, a highly unusual move for a casino company. “I want to assure you that our company has not engaged in any conversations about the sale of the property,” he wrote … Who wants to spend four nights in Laughlin? Not us. But Caesars Rewards Air will take you there—for free—this February. Where next? Tunica. Throw Biloxi into the mix and we’ll be interested … What were the most doleful restaurant closings of this year? Eater Vegas has a roster, from Pamplemousse to Sage to venerable Vickie’s Diner … What would you rather have: Living wages for Americans or cheap food? Jay Saxena argues that “what upset customers are forgetting is that most of us have always been underpaying for our dinners out. The public’s perception of how much a meal should cost is incredibly skewed. Your dinner has been subsidized this whole time” … Hard Rock Gary has started hiring for its restaurants, ahead of a spring 2021 debut … Horseshoe Southern Indiana has hired Julie Vasic, a 25-year veteran of the Chicago hotel industry, to be its vice president of human resources.