Wynn faces tough path in Japan; Sweetheart deal for Saucier

Things haven’t been going well for Kazuo Okada but he could still play spoiler to Steve Wynn‘s casino aspirations in Japan. Litigation between the two could tarnish Wynn’s image. Already, Wynn is swimming upstream, with MGM Resorts International and Las Vegas Sands seen as the front-running casino aspirants. Why? Wynn’s all-important convention footprint is puny compared to those of the Sheldon Adelson and Jim Murren. (Adelson has over 10 times as much.) Morningstar analysts wrote, “While Wynn Resorts has a successful track record of constructing and operating luxury resorts, its involvement with bribery litigation, along with its weaker MICE … and balance sheet position relative to MGM and Sands, leads us to believe that the company is unlikely to Continue reading

Posted in Architecture, California, Florida, Genting, Japan, Kazuo Okada, Marketing, Massachusetts, MGM Mirage, Nevada, New York, Politics, Regulation, Sheldon Adelson, Steve Wynn, Wall Street | Comments Off on Wynn faces tough path in Japan; Sweetheart deal for Saucier

Adelson up to new mischief; DFS mega-merger kaput

If you don’t know Rep. Charlie Dent (R), you will soon. Sheldon Adelson has the Pennsylvania congressman by the short and curlies, holding expansion at Sands Bethlehem hostage to passage of Restore America’s Wire Act, his pet cause. Consequently, Dent is trying to infiltrate an unrelated appropriations bill with RAWA language. Although Adelson errand boy Jason Chaffetz has fallen by the wayside, there are plenty of others ready and willing to do the mogul’s bidding. Sens. Dianne Feinstein (D), Mark Warner (D) and Lindsey Graham (R) are putting pressure directly on Attorney General , with the latter writing to Sessions that the “potentially predatory nature of online gambling represents a heightened threat to economically vulnerable populations.” We can probably expect a lot more such language as this skirmish continues to be fought during the present Congress. Let’s hope pro-Tenth Amendment congressman are wise to Dent’s tricks and winnow his RAWA parasite from the spending bill in question.

* “We believe it is in the best interests of our customers, employees, and investors to Continue reading

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Cromwell re-do planned; The other Sin City

While the contest to re-name the Cromwell (perhaps as something less puritanical) has gone down the memory hole, that doesn’t mean the boutique casino is off Caesars Entertainment‘s radar. Far from it. The company has announced a fleet of changes to the former Barbary Coast. For one thing, Giada will no longer have to carry the freight as the property’s sole restaurant. Caesars has rolled out 24-hour diner Eatwell. Whereas Giada aims to Improve You, Eatwell is strictly comfort-food focused. Tucked into the north side of the Cromwell, it’s equally convenient to Flamingo customers.

Evidently the Interlude bar wasn’t performing up to snuff, so several changes are on the way. These include more video poker and an expanded live-entertainment stage. Interlude always did seem a bit forlorn so I’m not surprised at the re-think. “Developments are in progress at Interlude to enhance plush seating, soften lighting and create a more open ambiance,” quoth Caesars. For VIP guests, a 30-machine, high-limit slot area will be added to the casino.

Alas, the company is taking a step back from the comforting tradition of the in-person concierge. In their place comes “Ivy,” an electronic concierge service that can make dinner reservations or take housekeeping requests, all via text message. And, in the biggest change of all, the Cromwell is adding a 50-seat sports book (get there early), with a nine-by-32-foot video screen. That’s a lot of changes for one casino but CEO Mark Frissora seems to have decided that the Cromwell needs a little bit something more for everyone.

* Speaking of the Flamingo, it has a new entertainment draw in reptilian magician Piff the Magic Dragon. As you can imagine, the season premiere of Game of Thrones offered Piff a promotional opportunity too rich to resist.

* Hard as it may be to believe, Las Vegas wasn’t always “Sin City.” No, that honorific once fell upon Newport, Kentucky. Today the Bluegrass State is allergic to casinos but, in the Thirties, Newport was rife with brothels and gambling. It wasn’t an ‘open city’ like Las Vegas, either: “During this time, the city was under the constant sway of gangland mob bosses, and violence wasn’t uncommon as various factions competed with one another.”

However, with the rise of Vegas in the Fifties, organized crime began to lose interest in Newport. The change of image was spearheaded by a citizens’ committee that pushed back against the “Sin City” image. An attempted frame-up of Sheriff George Ratterman blew up in the Mob’s face and also brought the wrath of Attorney General Robert F. Kennedy upon the city. As Ratterman put it, “the other side knew what was coming, and they left quietly, on their own.” And, with that, Las Vegas laid claim to the crown of Sin City, a title it has never relinquished since.

* Lists of Las Vegas must-see spots invariably contain the obvious (the Neon Museum, the “Hand of Faith” gold nugget) but Atlas Obscura has done a little work. Personally, we think its nominations of Frankie’s Tiki Room and Lonnie Hammergren‘s indescribably bizarre mansion are right on the money. And the site really did its research by including Kiel Ranch. As the article’s title implies, it would be a sin to miss these.

Posted in Architecture, Dining, Entertainment, Harrah's, history, Kentucky, Law enforcement, Sports, The Mob, The Strip, TV | 1 Comment

Revel up for grabs?; So long, O.J.

Glenn Straub could theoretically never do a damned thing with Revel and still turn a tidy profit. A New York-based private equity firm is reported as willing to pay him $200 million for the shuttered megaresort, which Straub picked up for $82 million. Straub denies receiving any offers — but also says he doesn’t know any private equity firms, which is a little hard to believe of someone as financially savvy as he. In the meantime, Revel remains stuck in the mud, its “Ten” rebranding perpetually on hold due to Straub’s proud insistence that he needn’t play by the same rules as other New Jersey casino owners. His choice of crony Robert Landino to oversee casino operations looks as dubious and arbitrary as ever. He’s even talked about opening Ten sans casino, which would seem like business suicide were his investment not so low.

If Straub has done nothing else, he’s chummed the waters for other bidders. In addition to the mystery private equity firm, Continue reading

Posted in Atlantic City, Donald Trump, Genting, Glenn Straub, history, New York, Regulation, Revel, Station Casinos, The Strip, Wall Street | Comments Off on Revel up for grabs?; So long, O.J.

Cuomo’s missed bet; Next stop, Vietnam

Resorts World Catskills still hasn’t weighed in and yet it’s already looking like New York Gov. Andrew Cuomo‘s bet on upstate casinos has crapped out. After an initial flurry of lookie-lous, the first three casinos are struggling to regain their initial pace. For instance, Rivers Casino was making more than $3 million a week during February and March but it fell in April and hasn’t been able to get back up. Ditto Del Lago. The casinos’ applications to the state were predicated on revenue projections that are looking harder and harder to meet. Del Lago grossly overshot the market, predicting $5.5 million a week.

Del Lago GM Jeff Babinski tried to blow smoke up the business community’s ass, saying,  Continue reading

Posted in Economy, Eldorado Resorts, Genting, Internet gambling, Iowa, Japan, Neil Bluhm, New York, Pennsylvania, Politics, Regulation, Slot routes, Vietnam | Comments Off on Cuomo’s missed bet; Next stop, Vietnam

Becalmed in Atlantic City; The friends of Sheldon Adelson

Casinos in Atlantic City would have been up 11% last month — were it not for the big, fat zero that is Trump Taj Mahal in same-store revenue comparisons. Instead, they were dead even with June 2016, redeemed only by a 23.5% catapult in Internet gambling revenue, but not helped by an extra weekend day. Incremental variances aside, slot and table revenues were flat on the whole. One place they weren’t was Borgata, up 7% to $64 million. Table revenue rose 13% on 6.5% higher wagering and slot handle and winnings were up 5% each. Putting the best face on the data, New Jersey Casino Control Commission Chairman Matthew Levinson said, “These are solid numbers that show that casinos are attracting more business and increasing their market. Gaming revenue for the current operators has now increased every month this year compared to last year. So far this year, total gaming win at the seven casinos is up 11.1 percent, with six of the current seven operators outperforming last year.”

The only revenue-negative casino was Caesars Atlantic City ($25 million, -2%). By contrast, Bally’s seems to have finally Continue reading

Posted in Atlantic City, Dan Gilbert, Detroit, Donald Trump, Election, Harrah's, International, Internet gambling, Japan, MGM Mirage, Mohegan Sun, Politics, Sheldon Adelson, Sports, Tilman Fertitta, Tropicana Entertainment | Comments Off on Becalmed in Atlantic City; The friends of Sheldon Adelson

Macao takes the long view; Skill-based slots bomb in Europe

Macao gaming operators are off the hot seat as it appears increasingly inevitable that their casino concessions will be renewed rather than re-bid or nationalized. However, that may come at a price — literally. The casino magnates aren’t completely out of the woods, as a series of public tenders must be held between 2025 and 2027. But near-term, five-year renewals look more and more like a given. Experts on the industry foresee either a one-time fee or a hike in the 39% tax rate as the quid-pro-quo for those five-year renewals. Also, Secretary for Economy & Finance Lionel Leong has called for casino operators to address unspecified “shortcomings.”

Further clouding the picture, concession renewal will fall into the tenure of whoever Continue reading

Posted in Boyd Gaming, Dan Gilbert, Foxwoods, Harrah's, Indiana, International, Macau, MGM Mirage, Ohio, Politics, Regulation, Taxes, Technology | Comments Off on Macao takes the long view; Skill-based slots bomb in Europe

Trump Taj: Everything must go; Vegas looking better than ever

Somehow Trump Taj Mahal just wouldn’t be ‘Trump’ if it didn’t go out with an episode of farce. An Atlantic City resident put the liquid into “liquidation” when he decided to take an impromptu shower in one of the vacant hotel rooms and video cameras were there to catch it. The man’s excuses were A) he wanted to make sure that the shower worked and B) the hot water was out at his house. However, Plan B was somewhat dampened by the fact that Mr. Clean didn’t think to bring soap, shampoo or towel. Somewhat forgetful, no?

“I mean, it’s a liquidation sale. They’re giving us a sample, so I Continue reading

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Slot routes thwarted in Pennsylvania; Crown 18 convicted

Gaming issues are holding the Pennsylvania state budget hostage. House Majority Leader Dave Reed (R) is saying ‘no deal,’ even as Senate President Pro Tempore Joe Scarnati (R) is remarking that an agreement is “more or less” in place. The latest wrinkle in the debate is a proposal to metastasize the state’s casino industry by adding 10 mini-casinos (the industry’s view on this is unknown but unlikely to be favorable). Lawmakers have until next Monday to broker a deal, one that hopefully works off a cumulative budget deficit of $2 billion. The Associated Press reports that “the state government is facing the potential for another downgrade to a credit rating already damaged by its failure to deal with an entrenched post-recession deficit.”

The mini-casino idea is a counterproposal flung on the table after it became clear that Continue reading

Posted in Economy, Genting, International, Internet gambling, Law enforcement, Lawrence Ho, Macau, Pennsylvania, Philippines, Politics, Regulation, Slot routes, The Crown 18, Wall Street | Comments Off on Slot routes thwarted in Pennsylvania; Crown 18 convicted

Good news across the Midwest; Pennsylvania blows it (again)

An extra weekend day may have made all the difference for Illinois, where gross gaming revenues rose 2% last month. The good news was spread pretty evenly throughout the market, except at Jumer’s Casino Rock Island, which slipped 6%, to $6 million, and Boyd Gaming‘s Par-A-Dice, down 7% to $6 million. Gaming & Leisure PropertiesCasino Queen dipped 2.5% to $8.5 million. All the Penn National Gaming-managed riverboats were shipshape: Argosy Belle was flat, at $4 million, Empress Joliet gained a percentage point to finish at $10 million and Hollywood Aurora leapt 3% to $9.5 million.

In dollar terms, of course, Rivers Casino was as ever the champ, grossing $35 million (up 2.5%) but in percentage terms the headliner was Continue reading

Posted in Affinity Gaming, Ameristar, Boyd Gaming, Dan Gilbert, Dan Lee, Eldorado Resorts, Full House Resorts, GLPI, Harrah's, Illinois, Indiana, Internet gambling, Isle of Capri, Majestic Star, MGM Mirage, Missouri, Neil Bluhm, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Racinos, Tropicana Entertainment | Comments Off on Good news across the Midwest; Pennsylvania blows it (again)

What happens in Vegas goes to France; Big setback for Japan

French President Emmanuel Macron could be collateral damage of a made-in-Vegas scandal involving the 2016 Consumer Electronics Show. At the time, Macron was minister of the economy but had the ill judgment to headline a “French Tech Night” that was underwritten by ad giant Havas. Trouble was, Havas got the deal to foot the $238,000 bill for the fete on a no-bid basis. Macron, who is currently (and ironically) pushing an anti-corruption agenda back home, isn’t the primary focus of the investigation. No, that would appear to be Minister of Labor Muriel Penicaud. The latter is already a lightning rod for French labor unions for her efforts to curb their power. Expect more bolts to be flung in her direction as the Vegas scandale grows legs. Already Havas HQ have been raided and allegations have been made that Macron’s team exerted pressure on its behalf. As for Penicaud, she’s pushing her boss under the bus, launching her own internal inquiry and asserting that Continue reading

Posted in Atlantic City, Election, Harrah's, International, Japan, MGM Mirage, Regulation, Sheldon Adelson, Singapore, Sports, Wall Street | Comments Off on What happens in Vegas goes to France; Big setback for Japan

Exit SLS, enter Sahara; Seminoles reach Florida accord

Collectors, start gathering those SLS-branded souvenirs while you can. The auguries continue to accumulate that the beloved Sahara identity will be returning to the venerable hotel-casino. The latest sign is the changeover of the loyalty program to Club 52 (from “The Code“). In case there could be any doubt, the property issued a statement reading, “Paying homage to its roots, Club 52 represents the year the Sahara Hotel and Casino opened its doors.” Hint, hint. Strangely — according to incipient owner Meruelo Group — the changeover was initiated by current SLS management.

Comments the Las Vegas Review-Journal‘s Todd Prince, “Many in the casino industry said the SLS name never Continue reading

Posted in Animals, Cordish Co., Florida, history, Marketing, Maryland, MGM Mirage, Pets, Politics, Sahara, Sam Nazarian, Seminole Tribe, SLS Las Vegas, Taxes, The Strip, Tribal | Comments Off on Exit SLS, enter Sahara; Seminoles reach Florida accord

Best Western Stratosphere?; Atlantic City rescued in nick of time

* Golden Entertainment will be facing a fait accompli when it takes over the Stratosphere and Aquarius Casino Resort from American Casino & Entertainment Properties. Outgoing owner ACEP has inked a pact with Best Western to manage the two flagship properties (Arizona Charlie’s Decatur and Arizona Charlie’s Boulder were omitted from the arrangement. While Golden may have been consulted on the deal, you have to wonder how CEO Blake Sartini will feel about being reduced to a back-seat driver at his two newest casinos. Just to rub it in, ACEP CEO Frank Riolo said, “We were searching for the right soft brand to align with and it was immediately clear that Best Western Hotels & Resorts shares our commitment to delivering a unique and exceptional travel experience at a great value. Not only that, we will have access to Best Western’s second-to-none brand support, online platforms and loyalty program, while our properties maintain their iconic identities in both Las Vegas and Laughlin.”

* Poker rooms in Las Vegas continue to fall by the wayside, including ones at Continue reading

Posted in ACEP, Atlantic City, Boulder Strip, Economy, Golden Gaming, Goldman Sachs, Hard Rock Hotel, International, Japan, Kazuo Okada, Laughlin, Lawrence Ho, Melco Crown Entertainment, MGM Mirage, Philippines, Politics, The Strip | 1 Comment

National Harbor cleans up; A peek inside Resorts World Las Vegas

MGM National Harbor drove a 40% increase in Maryland gambling revenues last month. The $50.5 million gross at MGM was evenly divided between table games and slots. Since the latter are taxed at a far higher rate, MGM won’t be crying into its beer. The casino has increased its share of the Free State market from 37% to 38.5%. Maryland Live ($42 million) continues to take it on the chin, down 22%, whereas Horseshoe Baltimore ($22 million) slackened only 10%. Believe it or not, Hollywood Perryville snapped out of its doldrums, up 6%. All of the outlying casinos had a warm June, with Rocky Gap Casino growing revenue 8.5% and Ocean Downs up 9.5%.

West Virginia uses different dates for measuring casino revenue, so the comparison is imperfect but Continue reading

Posted in Animals, Architecture, Atlantic City, California, Cordish Co., Economy, Entertainment, Genting, GLPI, Golden Gaming, Hard Rock International, Harrah's, Maryland, MGM Mirage, Penn National, Racinos, The Strip, Tribal, West Virginia | 1 Comment

Quote of the Day

“If a renovation is done correctly, casinos can substantially increase the time on the machines and the time on gaming tables—it’s almost like adding a casino. It would seem to me they have to be looking at a 20 percent [return on investment] or they wouldn’t do it.” — architect Paul Steelman on the effect of good casino redesign.

Posted in Architecture | Comments Off on Quote of the Day

Trailer Stations invade Downtown; DFS rejected in Delaware

If there’s one thing I’ve learned at Las Vegas Advisor it’s that our readers love Trailer Stations — or at least reading about them. So, had been inclined to spend your Fourth of July playing slot machines, you could have done it at the Las Vegas Club or Mermaids, each of which offered eight hours of gambling, starting at the crack of dawn (6 a.m.). By dint of hosting United Coin‘s machines, co-owner Derek Stevens keeps his gaming entitlement intact for another two years (and the Las Vegas Review-Journal opines that, based on the scale of his ambitions for the site, he’ll need to hold another Trailer Station before he’s done). Those who picked their way past a fence and through construction found 16 slots in front of a curtain that shielded the rest of the Vegas Club from view. The day’s big winner took home $5.

Player interest in the two casinos was described as Continue reading

Posted in Delaware, Derek Stevens, Downtown, Genting, Horseracing, Internet gambling, Law enforcement, Moulin Rouge, Nevada, Pennsylvania, Philippines, Politics, Regulation, Sheldon Adelson, Slot routes, The Strip | Comments Off on Trailer Stations invade Downtown; DFS rejected in Delaware

Arizona tribe moves ahead; The king and Adelson

Having beaten the system and Gov. Doug Ducey (R), the Tohono O’odham tribe in Arizona is moving ahead with construction of its permanent, Class III casino, with an eye toward completion by spring of 2019. The tribe has been getting by with Class II games in a “big box” space eventually intended for back-of-house functions. It will offer 75,000 square feet of gaming space, up from the current 35,000. Although the tribe is now authorized to have table games, it won’t add any to Phase I, waiting until the proper Desert Diamond casino is finished. This has been such a long and bitter saga, it’s nice to report that it will have a happy ending.

* Casino gambling is spreading almost faster than the industry can keep pace. The next domino to fall may well be Continue reading

Posted in Architecture, Arizona, International, Macau, Regulation, Sheldon Adelson, Tribal, Wall Street, Wisconsin | Comments Off on Arizona tribe moves ahead; The king and Adelson

Strip has a strong May; The robots are coming

Las Vegas Strip casinos posted a 3% revenue increase in May, led by a 12% upswing in baccarat revenue (on only 3% more wagering). Slot coin-in was up 4% but winnings were flat. Non-baccarat table games won 3% more even though wagering was 5%. The gross gaming revenue for the Strip was $547 million, while statewide it was just short of a billion-dollar month, coming in at $991.5 million. Locals lost 2% more, mainly driven by a 6% increase in casino winnings at the slots, while table games fell 6% on 1% less wagering. (The calendar was neutral with 2016, having the same number of weekend days.)

In the valley, only North Las Vegas was revenue-negative, being down 1.5% ($27 million). Downtown Las Vegas was up 9.5%, grossing Continue reading

Posted in Boulder Strip, Dining, Downtown, Entertainment, Environment, Lake Tahoe, Laughlin, Louisiana, North Las Vegas, Pinnacle Entertainment, Planet Hollywood, Regulation, Reno, Technology, The Strip, Wall Street | Comments Off on Strip has a strong May; The robots are coming

Next stop, East Windsor; Everybody (in Vegas) must get stoned

“Make no mistake about it – the legislation I signed today is about jobs for the residents of Connecticut, and securing those jobs in our state.” With those words, Nutmeg State Gov. Dannel Malloy (D) affixed his signature approving a Mohegan Sun/Foxwoods Resort Casino satellite casino in East Windsor. The financial terms are congruent with the Mohegan’ and Pequots’ current obligation to the state: $1 million upfront and 25% of slot revenues thereafter, plus annual disbursements to Hartford and five suburbs of $750,000 apiece. The bill also sets the precedent of bringing the satellite casino and any others that follow it under the regulatory supervision of the Department of Consumer Protection.

Meanwhile, MGM Resorts International continues to play hardball, promising litigation. While it brandishes a lawsuit in one fist, MGM dangles Continue reading

Posted in Donald Trump, Foxwoods, Geoff Freeman, Massachusetts, MGM Mirage, Mohegan Sun, Nevada, Politics, Regulation, Sheldon Adelson, Sports, Taxes, Tribal | Comments Off on Next stop, East Windsor; Everybody (in Vegas) must get stoned

Quote of the Day

“That creates problems for airports as far away as Bucks County in Pennsylvania. It restricts training flights, forcing pilots to fly with tracking devices and grounding skydivers and hot air balloons.” — Associated Press report on the adverse economic impact of Donald Trump‘s frequent visits to his Bedminster golf course.

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