“When our state passed legislation to expand gaming, our decision was based on projections of robust revenues, and promises that casino development would not place new burdens on taxpayers. The last few months, however, have called into question those projections and promises.” — New York State Assemblyman Gary Pretlow (D), on the revenue shortfalls experienced by the Empire State’s three newest casinos. The casinos in question may ask for tax breaks.
two major boxing matches fell into this time period. As for its response to the Oct. 1 massacre, MGM said it engaged in a“short-lived uptick in cancellations and a temporary suspension of marketing efforts. (According to Deutsche Bank analyst Carlo Santarelli, “investors are willing to overlook the impact of the tragedy, should the perception of a strong underlying business persist”). Since restarting such efforts, [MGM’s] booking pace has largely rebounded to normal levels.” On the plus side, MGM reported “significant progress” in the conversion of Monte Carlo into Park MGM. Still, MGM was at pains to downplay expectations for 4Q17.
“Since the dawn of the nuclear age seven decades ago, we have been relying upon cooler heads and strategic doctrine to forestall the unthinkable. But too often those kind of ad hoc measures seem less reassuring than ever.” — Sen. Edward 
fell 14%, while Horseshoe Baltimore ($19.5 million) plunged 26.5%. Even MGM National Harbor ($52 million) came up incrementally short of some Wall Street projections. Obviously, Cordish Gaming is better positioned to absorb this pummeling than Caesars Entertainment is. Another October like last month and you’d probably see job cuts and other things we’d like not to talk about. Hollywood Perryville ($6 million) was flat and little Ocean Downs ($5 million) actually gained 7%, despite being in the off-season. Golden Entertainment experienced its first setback at Rocky Gap Casino, down 1.5% to $4.5 million.
says “fun” like a bunch of spiders, right? I think my archachna-phobic wife has come up with the explanation: Spiders have eight legs and ‘8’ is considered propitious in crucial Oriental cultures. Why not go whole hog and have guests enter Paradise Park through the legs of a gargantuan spider? That couldn’t be as inauspicious as the infamous MGM Grand lion’s mouth.
to be called “Stupak’s Stump” or the “Tower of Bobel” is now one of Sin City’s foremost icons, its elegant spire orienting you at a glance as to where you are in the valley, not to mention providing a connecting point between the Las Vegas Strip and Downtown. As owner, Sartini’s first order of business will be to upgrade the Strat’s 2,427 hotel rooms, which go for bargain rates at present. He’ll also need to beef up gambling revenues, opines Macquarie Group analyst Chad Beynon: “Nobody goes there but to bungee jump. If they can fix that, earnings will go up significantly.”
as a hub of manufacturing and economic development — the “Tesla effect” created by Tesla, Switch, Apple, Google, etc. — one that Union Gaming Research analyst John DeCree thinks could last one or even two decades. And if discretionary income is up in Reno, that’s a tide that’s going to lift all boats, including casinos — we’re already seeing it. “In three to five years [if we are] still in a high-growth cycle and if things keep going as they are, 10 to 20 years is something that could be feasible. Let’s hope the global and U.S. economy kind of steer the course, and I think Reno will keep leading away.” DeCree told Nevada Newsmakers.
but before the beginning. William Fisk Harrah didn’t get into the casino biz until 1946, when he bought a casino and renamed it Harrah’s Reno Club, following that with Harrah’s Tahoe Club a decade later. He took the company public in 1971, seven years before his death, when it was sold to Holiday Inn. According to the Center, “The collection is primarily comprised of casino and employee periodicals, reports, manuals, promotional files, ephemera, and newspaper articles that document 
revenue projections. “It is critically important that we have reliable and realistic long-term revenue projections — so we can prevent the recent gaming expansion from creating an arms race for more and more tax subsidies,” wrote Pretlow. The trio of casinos — Tioga Downs, Del Lago and Rivers Casino Schenectady — are on pace to 
according to Deutsche Bank analyst Carlo Santarelli, He projected growth of all-important VIP revenue to be as high as 31%. His JP Morgan counterpart, Joseph Greff, credited the boom entirely to VIP play but cautioned, “U.S.-listed Macau stock valuations and expectations are less than favorable, outside of MGM. Look no further than 3Q17 earnings releases that, thus far, have been mixed relative to expectations.” Staying on the subject of MGM Resorts International, Greff wrote, “To the state the obvious, MGM’s share price has been weak since the tragic 10/1 shooting in Las Vegas, and we think this represents an attractive opportunity … We also think the stock has sold off to some extent, though we think silly, on (another) MGM Cotai delay.”
table games given WYNN and LVS’ combined 3Q table game revenues declined by $5 million y/y; this makes sense given MGM’s strong 3Q convention calendar.” Strip slot revenue rose 4% on 3.5% higher coin-in, while table games winnings were up only 5% despite 15% greater wagering. Baccarat players were lucky indeed, wagering an astonishing 47.5% more but losing only 3% more to the house. “We believe the baccarat results were boosted by the Golovkin/Alvarez fight mid-month,” noted Deutsche Bank analyst Carlo Santarelli. Miscellaneous Clark County jurisdictions like Primm and Mesquite eked out a 1% gain to $96 million, while Laughlin‘s $37 million was good enough for a 3% gain.
wife will never patronize the amusement park — part of an unusually cartoonish amenity for a Wynn Resorts property. Steve Wynn’s fertile brain 
popularity of Sigma Derby and come up with its own variant, Fortune Cup. Konami is also cracking the skill-based-slot market with Frogger: Get Hoppin’, to be found at the Green Monster (look for it in the Level Up lounge). That’s 
airport lounges. From this bonanza for operators and manufacturers, legislators hope to realize $230 million in near-term revenue and $100 million a year thereafter. As state Rep. Steve McCarter (D) 
lobbyist) while existing casino operators would have to get into a scrum for the remaining nine licenses. None of the satellites could be built within 25 miles of an extant casino (Presque Isle excepted), which might be good for cities like Johnstown, which were excluded when the first round of casino licenses were handed out. The special arrangement with Eldorado is meant to palliate the House’s displeasure with the Erie County Gaming Revenue Authority, which a previous bill would have dismantled.-
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