Yes, it’s that exciting moment when the Culinary Union contract comes due and the local flexes its muscle to get results from the casinos. Frankly, we don’t expect much 
drama this year, given the excellent state of the Las Vegas economy (unless the casinos improbably plead poverty). This is not, however, stopping the Culinary from negotiating through the media and even the public. So many contracts are up for renewal — including all of Downtown — that it’s easier to list those where labor talks won’t be held. That includes Wynncore, Trump International (not a casino but prominent for reasons that should be obvious), The Rio, The Cosmopolitan of Las Vegas and Vdara (also a pure hotel). That also includes several timeshares. Contracts expire on June 1, but we expect a smooth negotiation that won’t push the deadline.
The Culinary’s wish list includes “protecting pension and health benefits, good wage increases that reflect increased Continue reading
racked up over five billion social-media impressions to date. That’s not all. Some 92 million tourists and locals patronized Sands China properties in 2017 — a 25% increase. And, just in case the Macao government reads things like SEC filings, he made a point of saying, “Sands China has now invested approximately US$13 billion to deliver on our promise to help Macau in its economic diversification and its continued evolution into the world’s leading business and leisure tourism destination.” Aside from the anomaly of Adelson using ‘Macau’ instead of his preferred spelling (‘Macao’), the notable thing is that he’s singing a serenade to the government that’s bound to appeal.
allowing Macao to become more than just a gaming town.” Or, as boss Jim Murren put it, “We feel we’re the kind of company that the government would like to see here,” and MGM Cotai has a $13 million art collection to prove it. MGM met its self-imposed Chinese New Year deadline but not without compromise: only 23 of the gaming tables are new, not imported from MGM Grand Paradise. Also, only 500 hotel rooms are open, albeit booked solid. At peak, the resort is to have 1,390 hotel rooms available, but that’s a bit down the road. In the meantime, guests can busy themselves admiring the resort’s cutting-edge architecture.
Icahn wanted to make headlines, I’m sure. Suspect Michael Pillar, the pride of Whiting, New Jersey, was charged with maintaining a drug production facility, possession of methamphetamine and criminal mischief. Ya gotta watch out for that criminal mischief. It’ll get you every time. Two man and a woman briefly got away as the fire consumed a bed and bathroom, were apprehended on the street but were released without any charges being filed. “Only a few rooms were affected by the fire. Hotel rooms have been professionally inspected, and cleared to 
remained immune. New Orleans (-2%) and Shreveport/Bossier City (-5%) were victimized to a much lesser degree. Pinnacle Entertainment took it hard, down 10%, led by an 18.5% plunge at L’Auberge Baton Rouge ($12 million). Boomtown New Orleans slipped 2% ($9 million) and Boomtown Bossier ($4 million) was off by 8%. Not even flagship L’Auberge du Lac was bulletproof, sliding 8% to $23 million. Golden Nugget snuck past L’Auberge with a 23.5% gain and $25 million gross. Elsewhere in the market, Isle Grand Palais declined 8.5% to $8.5 million (really) and Delta Downs was down 3% to $14 million.
Richard Corcoran (R, below) and state Sen. Bill Galvano (R, left) are tied to Jeff Soffer‘s apron strings, and Soffer wants to move the Mardi Gras Casino & Racetrack gaming license to Miami Beach, at best, Broward County at worst. Genting Group, which is saddled with expensive Miami real estate it purchased several years ago on the presumption that resort casinos were coming, would like to see a return on its investment, too.
“There are often times when I would like corporate statutes and law to comply with what we believe socially, but it doesn’t. It insults me personally that all over America there are people sitting on boards with a CEO who is a sexual predator, but unless it affects the stock price, they don’t care.” — Northern Illinois University Assistant Professor of Law Carliss Chatman on the action (
one worry: Who’d take on 
According to Deutsche Bank analyst Carlo Santarelli, “Right now, the announcement means nothing. The ball is now in Ms. Wynn’s court as it is up to her to decide if she would like to abolish the Agreement. While Ms. Wynn has wanted to dissolve of the agreement for some time, it is possible that she changes her position with the Court, in which case, the two parties would essentially swap sides of the same argument. If she maintains her existing position, the Court is likely to dismiss the issue and the Stockholders Agreement would then be terminated.” He added that Mr. Wynn has made it clear he has no intention of selling down his position in the company. However, decoupling the voting rights of Elaine Wynn‘s shares from him his own would probably make it harder for him to thwart a sale of the company that he built. (
“We continue to believe that Mr. Wynn’s quintessential strength lies in his resort design abilities. So much so that his resorts have demonstrated superior performance under the management of others, i.e. Bellagio, and thus would hold their value in an [merger-and-acquisition] scenario, which admittedly is more likely given Mr. Wynn’s departure.” — Gabelli & Co. analyst Adam Trivison, attempting to see into the post-Steve Wynn future.
asset transactions, they view the risk profile as considerably higher given the volatility and maintenance capital expenditure requirements,” wrote Deutsche Bank‘s Carlo Santarelli. “CEO Peter Carlino made a vague reference, to we believe, Wynn Las Vegas, noting that they are unlikely transaction participants if ‘expectations are anywhere near what I’ve kinda heard'” That doesn’t mean GLPI isn’t in a buying mood: “Management noted that tax reform should aid future transactions as it provides several benefits, as well as clarity.”
flattering: “I think the impact on Wynn Resorts will be short-lived, in part because I doubt most people link these resorts with Steve Wynn or are even aware of him,” opined Stanford University marketing professor Itamar Simonson. Ouch! Even if people had no idea of who Steve Wynn is, 
“[Steve] Wynn’s tone-deaf statement about the resignation is telling. ‘In the last couple of weeks, I have found myself the focus of an avalanche of negative publicity,’ says Wynn. You didn’t find yourself anything, Mr. Wynn. You caused this. You’re not a victim. The victims are victims. You’re not a victim of the media or even your ex-wife. You did despicable things. For decades.” — Vital Vegas author Scott Roeben