Quote of the Day

“It’s a calamity, the losses are high and a lot of buildings need repair. People were just swimming, they cried for help. There were no boats. The water came so suddenly.” — maverick Macao lawmaker Jose Pereira Coutinho, who criticized the government’s reaction Typhoon Hato as going “so slowly and so badly.”

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Odds move toward Mayweather; MGM coy about Cotai plans

As Las Vegas gears up for the Floyd Mayweather/Conor McGregor clash of the tomato cans, rationality is starting to manifest itself in the betting lines. Several large wagers — two as big as $1 million — presumably from ‘sharps,’ began hitting Strip sports books, moving the line back toward where it should have been in the beginning: Mayweather. The latter is responding with some trash talking of his opponent, implying that McGregor won’t even be on time for the big event.

The books aren’t out the woods yet. According to an ESPN article, “William Hill said, even with Thursday’s $1.2 million bet on Mayweather, the book still faces a Continue reading

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Coming soon to MGM Grand

While it’s standing pat on skill-based slots, MGM Resorts International is taking the plunge with virtual-reality social gambling. It’s teaming up with Aussie firm Zero Latency to place three games in Continue reading

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Atlantic City wins big; Typhoon Hato clocks Macao

Having trounced its opposition in last year’s election, Atlantic City continues on its roll, with its casinos posting a 20% increase in operating profit through June. “For three consecutive quarters now, the current operators reported double-digit growth in gross operating profits. They must be doing something right,” said New Jersey Casino Control Commission Chairman Matt Levinson. Yes, and they’re doing it without Glenn Straub, still in a titanic sulk over having to be licensed at Revel. Down at the Tropicana Atlantic City, the management team deserves a bonus, having increased Trop operating profits a stunning 105% ($35 million). Mohegan Gaming Entertainment is also showing results at Resorts Atlantic City, up 63% ($9.5 million). Tilman Fertitta wrested an extra 27% ($17 million) out of his Golden Nugget, while Borgata gained 22% for a whopping $129 million.

The news wasn’t all good, unfortunately. While volatile Caesars Atlantic City increased its operating profit Continue reading

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Adelson goes to London — sorta; Comanches zing Zinke

Having taken forever to build Sands Cotai Central, owner Sheldon Adelson is wasting no time re-doing it. According to Macau Business Daily, the metaresort’s four hotels — St. Regis, Sheraton Grand, Conrad and Holiday Inn — will be redecorated in a London theme. “The decision is done, it’s now just a matter of starting to work on it,” said an anonymous Sands China source. The five-year-old hotel towers will be retrofitted with what are described as distinctive features of the United Kingdom, in order to make them “more attractive to Chinese visitors,” in the manner of Venetian Macao and Parisian. Replicas of Big Ben, the Tower of London, Buckingham Palace or the Tower Bridge are rumored, but not confirmed.

The London theme will extend to the casino-resort interiors and, in keeping both with London and the auspicious color of red, double-decker buses will Continue reading

Posted in Architecture, Dennis Gomes, Environment, Internet gambling, Macau, Oklahoma, Regulation, Sheldon Adelson, Sports, Taxes, Texas, Tribal | Comments Off on Adelson goes to London — sorta; Comanches zing Zinke

Culinary frets over Hard Rock; Puck jilts Caesars for MGM

What does Bethany Khan know that we don’t? Although Brookfield Asset Management has said nothing overt about selling the Hard Rock Hotel, the Culinary Union is obviously convinced that a sale is imminent and is ringing the alarm bell. In Khan’s own words, the union “is gearing up to demand a fair process that will assure an opportunity for the Hard Rock Hotel Las Vegas’ housekeepers, food servers, cooks, and other non-union workers to decide whether they want union representation in an atmosphere that is free from management pressure tactics. Workers says that job retention is a critical concern to them in the event the property’s owner, Brookfield Asset Management, sells the property.”

Leaving aside the question of to whom Brookfield might sell the HRH (Hard Rock International being the obvious candidate), the Culinary is clearly concerned that Brookfield will Continue reading

Posted in Archon Corp., Culinary Union, Dining, Drugs, Hard Rock Hotel, Harrah's, history, MGM Mirage, Regulation, Station Casinos, Steve Wynn, The Strip | 1 Comment

How Conor McGregor is like Donald Trump & other news

Not since the election of Donald Trump have oddsmakers been poised to take such a shellacking as at this weekend’s showdown between tomato cans Floyd Mayweather Jr. and boxing debutante Conor McGregor. Despite Mayweather’s proven track record, sports books have him a +500 underdog to win the fight, down from +1100 but still bad news. BetOnline.ag counts 89% of all the action as being placed on McGregor to win, while MGM Race & Sports Book President Jay Rood went so far as to say, “This could be the worst loss in the history of MGM Resorts.” His colleague Zach Jornlin added, “I’ve never seen anything like this. I can’t believe it’s this lopsided … A lot of people hate Mayweather and … want to see him get knocked out and make some money.* This would be a really, really bad loss for us.”

* — Count us in.

For now, the books are hoping for Continue reading

Posted in Atlantic City, George Maloof, Harrah's, Internet gambling, MGM Mirage, Michael Gaughan, New York, PokerStars, Sports, Steve Wynn, Taxes, Technology, The Strip, Tilman Fertitta, Tribal, Westgate LV | Comments Off on How Conor McGregor is like Donald Trump & other news

SCOTUS sports betting throwdown spurs excitement; Trump’s Mafia ties resurface

Legal wonks are getting all worked up about the Supreme Court‘s upcoming hearing of Christie v. NCAA, with one saying it had the “markings of a sleeper blockbuster.” Wrote Virginia Solicitor General Elbert Lin and deputy Thomas M. Johnson Jr., “The parties and their counsel give the case an Ali-Frazier feel. New Jersey Governor Chris Christie versus the National Collegiate Athletic Association and all four major professional sports leagues (the National Basketball Association, the National Football League, the National Hockey League and Major League Baseball). Former U.S. Solicitor General Ted Olson versus his successor (and his principal deputy) Paul Clement. For Supreme Court junkies, you don’t get much closer to the Thrilla in Manila.

“Congress can no more mandate that states not repeal or modify certain existing gambling laws than it can dictate Continue reading

Posted in Atlantic City, Australia, Donald Trump, Galaxy Entertainment, Harrah's, International, Japan, Kazuo Okada, Melco Resorts & Entertainment, Philippines, Regulation, Sports, The Mob, The Strip, Wall Street | Comments Off on SCOTUS sports betting throwdown spurs excitement; Trump’s Mafia ties resurface

Quote of the Day

“If people’s complaint is that tearing down statues erases history, then certainly having an absence of statues of people, other figures in history is ignoring it altogether. So I think the goal should be to tell the true, correct, fact-based story of history and then let the chips fall from there.” — author David Walker on the removal of Confederate statues.

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Murren blasts hate groups; 21st century strippers

Reverberations from Charlottesville were felt on the Las Vegas Strip last week when MGM Resorts International CEO Jim Murren wrote to all employees, saying in part, “You have my commitment that we will vigorously and zealously continue to reject hate speech and hate-based actions in any form,” calling out “hate mongers and white supremacists.” Murren advocated employee donations to the Southern Poverty Law Center, the Council on American-Islamic Relations and the Anti-Defamation League, as well as four other groups. MGM will match any employee’s donation to these organizations.

While we applaud Murren’s actions, they could also be criticized as Continue reading

Posted in Cretins, Culinary Union, Dan Gilbert, Detroit, GLPI, history, MGM Mirage, North Dakota, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Sheldon Adelson, Technology | Comments Off on Murren blasts hate groups; 21st century strippers

Fertitta scourges Pelican State rules; Macao biz booms for Wynn

“Let’s not kid ourselves: that barge is concrete. It’s not going anywhere.” With those words, Tilman Fertitta launched one of several broadsides at absurd Louisiana regulations on casinos. Not only do Pelican State casinos still have to sit in water, they must have a visible paddle wheel, even if aforesaid barge is “not going anywhere.” Fertitta also ripped the state’s per-casino limit on slot machines and $100,000/year barge inspection, which he reckons have cost him $10 million. Taxation of free play offered by private-sector casinos (but not tribal ones) was another burr under Fertitta’s saddle.

Fertitta’s message wasn’t entirely negative. He urged Louisiana to get on the Internet-gambling bandwagon, predicting it could be legal in as many as Continue reading

Posted in Boyd Gaming, Churchill Downs, Eldorado Resorts, Entertainment, Environment, Foxwoods, GLPI, Greenwood Racing, Harrah's, Internet gambling, Iowa, Isle of Capri, Japan, Louisiana, Macau, MGM Mirage, Pennsylvania, Pinnacle Entertainment, Politics, Problem gambling, Racinos, Regulation, Sheldon Adelson, Steve Wynn, Tilman Fertitta, Tropicana Entertainment, Warner Gaming | Comments Off on Fertitta scourges Pelican State rules; Macao biz booms for Wynn

Japan sets casinos up for failure; Renegade card room in California closed

About the nicest thing Jim Murren had to say about Japan‘s casino market is that it’s “unclear at the moment.” Casino developers are bracing themselves for delivery of a 130-page report from the Expert Committee, laying out proposed regulations for megaresorts.  The report will be followed by a monthlong comment period and it looks like casino companies will have a lot of commenting to do. Among the recommendations are that ATMs be banned from casino floor, that both local and foreign customers be required to register, and that visits by locals be rationed.

The whole thing sounds like a recipe for failure and makes you wonder at the thought process and motivations of those who thought it up. As it stands, casinos would be Continue reading

Posted in Arizona, Atlantic City, California, Cretins, Donald Trump, Election, history, Internet gambling, Japan, Maine, MGM Mirage, Pets, Regulation, Sheldon Adelson, Singapore, Sports, The Strip, Tilman Fertitta, Tourism, Transportation, Virginia | Comments Off on Japan sets casinos up for failure; Renegade card room in California closed

Quote of the Day

“I’m sorta glad that them people got hit and I’m glad that girl died. They were a bunch of Communists out there protesting against somebody’s freedom of speech, so it doesn’t bother me that they got hurt at all.” — Grand Dragon for the Loyal White Knights of Ku Klux Klan Justin Moore, trying to justify the violence in Charlottesville.

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McCarran under siege; Japan to ban poker?

Sen. Pat McCarran (D) is making more posthumous news. State Sen. Tick Segerblom (D) is renewing his push to rename McCarran International Airport. Since the real–life McCarran was a racist, xenophobe and anti-Semite, the urge to efface his name is understandable. However, he also played an important role in the development of commercial air traffic in the United States, even if he is best remembered for the anti-immigrant, anti-Communist McCarran Act, a bill so repressive that President Harry Truman called it a “long step towards totalitarianism.” Were he alive today, McCarran would have a hard time getting his name on so much as a public toilet. But should the Nevada Lege keep it on the airport, in deference to history, or remove it to bring our portal to outside world into an identity more in keeping with current attitudes?

Here at S&G we are certain of one thing: The airport should not be renamed after Harry Reid. Years of accumulating “juice” in lieu of major legislative accomplishment should not be rewarded thusly. We should look toward Continue reading

Posted in Florida, Foxwoods, Harry Reid, history, Horseracing, Japan, Massachusetts, Melco Crown Entertainment, Mohegan Sun, Penn National, Politics, Regulation, Seminole Tribe, Taxes, Transportation, Wall Street | Comments Off on McCarran under siege; Japan to ban poker?

Quote of the Day

“Freedom is never really won. You earn it and win it in every generation. That is what we have not taught young people, or older ones for that matter. You do not finally win a state of freedom that is protected forever. It doesn’t work that way.” — Coretta Scott King

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MGM changes Macao strategy; Protest at the Hard Rock

MGM Resorts International isn’t counting on the whales to make ends meet at its Cotai Strip™ casino. “Our business model is not predicated on the VIP business. Our strategic plan is built on catering to this tremendously emerging more-affluent Chinese customer, a customer that’s looking for more experimental experiences, not just a selfie moment or a gaming table,”  MGM CEO Jim Murren told Bloomberg TV. MGM is making “only” $449 million in Macao last quarter but hasn’t done as well as its rivals in recapturing once-lost VIP players.

Said one Bloomberg analyst of MGM Cotai, “Its focus on the mass market should help to boost margins, but there are still Continue reading

Posted in Ameristar, Arizona, Culinary Union, George Maloof, Hard Rock Hotel, International, Internet gambling, Japan, Macau, Marketing, Marnell Gaming, Planet Hollywood, Regulation, Station Casinos, The Strip, Tribal | 3 Comments

Quote of the Day

“I think it’s a little hypocritical that we can have a state lottery or horse racing in Texas but we can’t let people play poker.” — state Sen. José Menendez (D) on the legal penumbra in which Texas card clubs exist.

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56

Yes, today I get another year older, if perhaps not wiser. Since it is a slow day I hope you won’t mind if S&G goes on a 24-hour holiday. I promise to be back tomorrow, hopefully with some spicy content for y’all. Have a good day.

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This just in: Cotai hot, Macao not; Seminoles thrash Gilbert

In today’s dog-bites-man story, a Wall Street analyst has belatedly concluded the obvious: that the casinos on Cotai will sap business from Macao proper. Global Market Advisors analyst Andrew Klebanow wrote, “What the industry can expect to see is a pattern that was witnessed in Las Vegas, dating back to the opening of the Mirage in 1989 and the succession of casino resorts that opened on the Las Vegas Strip through the 1990s. Downtown Las Vegas devolved into a second tier gaming destination, attracting people with low-priced accommodations, cheap food and better gaming odds. Not only did that not stop the loss of market share to the Strip, it prevented downtown owners from reinvesting in their properties … In short, the Peninsula casinos with one or two notable exceptions, will continue to lose market share to those more alluring properties on Cotai.” Hey, if Macanese casinos start offering better odds for gamblers, is that such a bad thing?

Klebanow also predicted some reshuffling of the Peninsula casinos among existing operators, and possibly a few closures: “They will always Continue reading

Posted in Alabama, Atlantic City, Australia, Dan Gilbert, Georgia, Internet gambling, Macau, MGM Mirage, Ohio, Politics, Racinos, Seminole Tribe, Sheldon Adelson, Sociedade de Jogos de Macau, Stanley Ho, Steve Wynn, The Strip, Tilman Fertitta, Tourism, Wall Street | Comments Off on This just in: Cotai hot, Macao not; Seminoles thrash Gilbert

Case Bets: Cosmo, Penn, California, Caesars, Boyd, etc.

It’s reinvention time at The Cosmopolitan of Las Vegas, where management is investing $100 million-plus into upgrades of most of its rooms. If you don’t constantly reinvest in your resort project, you end up with Imperial Palace, er, Linq. (Given Gary Loveman‘s infatuation with the letter Q we’re lucky we didn’t end up with The Qromwell.) In-room iPads will act as “virtual concierges,” performing a variety of tasks from making reservations to regulating the temperature in your room. This is the latest in a series of rolling renovations to The Cosmo. It’s paying off, too: return on investment was up 25% in 1Q17 and is expected to be 200% higher by year’s end.
* The numbers are in for Plainridge Park and it set a record for Continue reading

Posted in Boyd Gaming, California, Cordish Co., Cosmopolitan, Greenwood Racing, Harrah's, Indiana, International, Massachusetts, Neil Bluhm, Penn National, Pennsylvania, Politics, Technology, The Strip, Tribal | 1 Comment