When Elaine Wynn speaks, Wynn Resorts is suddenly all ears. Last week the company’s plurality shareholder called for a largely new and diverse board of directors, in what is describes as a “first step” toward greater heterogeneousness. Presto! Who should be named to the board but 
former White House press secretary Dee Dee Meyers, Betsy Atkins and Wendy Webb. Atkins is described as “a corporate governance advocate,” and former Disney exec Webb is CEO Kestrel Advisors, “which advises corporations on growth initiatives, governance, investor relations and strategic issues.” “The Wynn Resorts board now comprises 36% women, bringing Wynn into the top 40 S&P 500 companies in terms of female board representation,” read the formal announcement. Aside from a significant infusion of diversity, two of the three new appointments address one of the foremost criticisms of the board of directors: that it was too passive to the whims of the executive suite. As for the extant, much-criticized board, another head has rolled: Continue reading
$163.5 million in 2016, according to the Illinois Gaming Board. Its revenue has steadily declined since 2007 after a peak of $436.7 million, and employees have decreased from 2,500 to 800.” — the decline and fall of Grand Victoria, red-headed stepchild of the MGM Resorts International family. Small wonder MGM 
came — not even new contenders Valley Forge Casino and Lady Luck Nemacolin (which hardly seems like it would be able to afford to bid). After several rounds of auctioning casino licenses, the Morning Call asks the pertinent question, “It also remains unclear whether any other sweet spots for a mini-casino exist across the state.” “The choice fruit has been picked with respect to the mini-casino locations,” said Spectrum Gaming Group‘s Joseph Weinert. That doesn’t mean that Keystone State communities aren’t showing a little ankle, hoping to lure a casino. State College, Clearfield County and Lawrence Township have all been mentioned as possibilities.
herself does not want a seat on the board, although she will be putting forward her own slate of candidates. However, 
Victoria’s performance improves. “Grand Victoria would be a bigger part of the Eldorado‘s portfolio than it is for MGM, so maybe there would be more focus on the property,” said Councilman Terry Gavin. Also not-uninterested is Kane County, which gets 7.5% of Grand Victoria’s net operating income, which goes toward everything from food banks to environmental remediation. The riverboat is a legacy from MGM’s absorption of Mandalay Resort Group, a transaction that left MGM with a number of small-fry properties it has been selling off here and there. Divestiture of Grand Victoria is consonant with that strategy — and MGM doesn’t have to pay Illinois‘ inflated tax rate anymore if the deal goes through.
venture with Meras Holding to 
“Since you can’t take it with you the IRS removes the temptation.” — quip on the marquee of a Methodist church in Augusta, Georgia.
which Morgan Stanley thinks will support at least 14% return on investment, if not better. There would be an entry fee for Japanese nationals, comparable to $56. The bank also projects $10 billion in annual gaming revenue just from megaresorts in Tokyo and Osaka. (A third resort is expected.) Tokyo might actually be last to market, due to disruption from the 2020 Olympics, “While Osaka seems to have all its stars aligned, there is no certainty around other locations,” opined Big Stan, mooting four other “interested locations,” including Nagasaki, which most of us think of in distinctly non-gaming contexts. The report did make the caveat that hitting those rosy ROI numbers (as high as 20%) was predicated on 
neck. Although this would mean giving almost the entire Massachusetts casino market to one company, Massachusetts Gaming Commission Chairman Stephen Crosby 
Gaming‘s Kansas Star Casino & Resort was dominant, grossing $18 million on an 8% gain. It was followed by Penn National Gaming‘s Hollywood-branded casino at the Kansas Speedway, which raked in $14 million, a 6.5% increase. Boot Hill Casino kicked it up 14%, ending at $4 million while Kansas Crossing brought up the rear with $3.5 million.
dominating that sector with 34% market share. Resorts Digital continues to move past Tropicana (the new tail-end Charlie) up to 16.5% market share. Borgata‘s terrestrial gambling was flat, year/year. Tables brought in 3.5% less on 6% lower wagering. Slot win grew 2.5% on 4% more coin-in. A good month at Harrah’s Resort ($32 million, up 7%) couldn’t save Caesars Entertainment‘s bacon. Caesars Atlantic City got clobbered, its $22 million representing a 25% plunge. Bally’s grossed $16 million, for a 7% decline.
consequences of further diluting the Nutmeg State’s gambling market Aresimowicz said, “we have to have a comprehensive view of gambling here in the state of Connecticut and what that looks like.” That’s clearly not a near-term goal. Bridgeport‘s Rep. Steven Stafstrom (D) added, “We could pass a bill this year that allows an RFP process to go forward and then next session come back and act on a more comprehensive gaming strategy for the state that may or may not include pieces that came out of that RFP process.”
make up enough to match the revenue contribution from Foxwoods Resort Casino and Mohegan Sun. Despite MGM Resorts International CEO Jim Murren‘s claims, “Not a single commercial casino in the United States currently generates that level of gross gaming revenue,” Barrow states. At a steep 25% tax rate, the best MGM could do for the state would be $180 million, a far cry from the $271 million that Foxwoods and Mohegan Sun shared with the state last year. Also, Barrow notes, competition from Connecticut has sprung up on all sides — Massachusetts, Rhode Island, New York State — with more on the way.
Wynn might say it’s not conceding anything but were there not a diversity problem, why would the company create a department to address it? The new Culture & Community Department, remotely overseen by Kim Sinatra, is — per the Wall Street Journal — tasked with “focusing on diversity and inclusion, gender equality, and support for employee charitable efforts.” This includes a Women’s Leadership Forum, where issues like pay equity will be addressed. The Wynn board has two vacancies at this point. Would it be asking two much for them to be filled with members of the fair sex?
Dayton (+9%) and Hollywood Mahoning Valley (+13%) were phat, with slot win/day of $331 in Dayton and $355/slot/day in Austintown. Despite being closed two days due to flooding, Belterra Park managed to stay level with last year, grossing $7.5 million. Scioto Downs leapt 11% to $16 million and Miami Valley Gaming jumped 11.5% to $15.5 million. The Jack threesome were all on the positive side of the ledger for once. Dan Gilbert grossed $20 million in Cleveland (up 12%), $12 million at Thistledown (15% higher) and $19.5 million in Cincinnati (5% better). The strong showing by Belterra Park should 
backstop buyer if no one else is willing to pay a fair price. While regional casinos aren’t among MGM’s strategic priorities, MGM does own around 73 percent of MGP and has a significant economic interest in the deal being successful. If MGM did step in as the OpCo buyer, we believe the deal would be accretive and strategically beneficial, giving MGM access to a new and attractive presence in Cleveland.” — Union Gaming Group analyst John DeCree on MGM Growth Properties‘ 
annual wages of just under $45K, $628,961 in charitable donations last year and nine million satisfied customers. “Las Vegas Sands is pleased and proud of what we have been able to accomplish over the last nine years. We look forward to the future,” what little there is of it, Carr told the regulators, who grumbled a bit about Sands’ tardiness in paying local revenue-sharing fees during the period when they were declared illegal and subsequently re-legalized. (Trust me, you don’t want an explanation. That way lies madness.)-
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