“I recently heard a father on the 19th hole say to his young son, ‘I beat you on eight holes, so you owe me 80 cents.’ Where is a country headed when it allows parents to bet with their children?” — Richard Schuetz, not entirely in earnest, on the widespread practice of golf betting.
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.
replace it, as the budget hasn’t been set, and plans for the Wynn Paradise Park hotel won’t be unveiled until next spring. Wynn told Wall Street analysts “it is now seeing little in the way of disruptions from the events of 10/1 … [3Q17] results were strong across the board, including the nightclub business, where Wynn benefited from several headline events.” (In a laudable move, the company donated $8 million to Hurricane Harvey and Typhoon Hato victims.)
“I don’t want to say that I know exactly what Asians think is a period of mourning that’s appropriate, but I’ve heard that it’s sometimes a period of three months, four months, in that range.” — Caesars Entertainment CEO Mark Frissora on 
Also, Penn is looking toward the Canada market for expansion. As Deutsche Bank analyst Carlo Santarelli headlined his investor note, “We’ve seen this movie before.” The main item of interest on the conference call was the Tropicana Las Vegas, which has seen a revenue increase of 14% in 3Q17. Cash flow was said to be “more than doubling” given the reopening of a critical pedestrian bridge and of Robert Irvine‘s restaurant. Cancellations jumped 35% in the Oct. 1-15 period but “business volumes are slowly recovering.” Worst of all, future capex investments have been pooch-kicked until a year from now or thereabouts. Poor Trop. It never gets the love it deserves.
Sands Cotai Central as The Londoner, spend $275 million on St. Regis Tower Suites and another $250 million to convert Four Seasons apartments into hotel suites (I guess the condo market wasn’t so hot over there either). Mass-market play, a Sands staple, was up 12.5% last quarter. On the Las Vegas front, management said it was “recovering well” from the Oct. 1 shootings. Despite higher occupancy, room revenues were down 3%, a phenomenon that Deutsche Bank analyst Carlo Santarelli found “a tad confusing.” Thanks to the Mayweather/McGregor fight and convention business, MGM Resorts International is thought to have eaten some of Sheldon Adelson‘s 3Q17 lunch.-
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