Last year was the best ever for tribal casinos, up 5% from 2014, coming in just a bit shy of $30 billion. Recent efforts to align tribal and private-sector casino interests come at a time when the tribal sector could plausibly achieve revenue supremacy. The latter have the advantage of not being beholden to Wall Street and the grail of maximizing shareholder returns. “They’re not really profits,” Cabazon Band of Mission Indians member Brenda Soulliere said of tribal revenues. “They’re funds that
average despite virtually no new capacity since 2010, which may suggest that the market is still digesting decade-old new supply.” Should there be another recession, though, he says the big boys are better positioned to ride it out, not being deeply into merger activity or new, capital-intensive projects. But the good news sort of ends there: “The weakness in Macau has spilled over with the Strip baccarat volume on track to decline by around 20% in 2016. Weakness may persist into 2017 as four additional resorts open in Macau and the dollar further strengthens.” At least Las Vegas‘ economic diversification (think restaurants, amenities) shields it from “lackluster” regional gaming prospects, according to Bumazhny, who says this “supports a view that the Strip resorts are real estate investments and should trade at comparable multiples.” So I guess that’s one more vote for REITmania.
development permit from the Massachusetts Department of Environmental Protection. Sore losers Mohegan Sun are still suing the Massachusetts Gaming Commission, but it doesn’t look like their litigation will affect Wynn Resorts‘ prospects. “One does not need to be a casino enthusiast to recognize and acknowledge the benefit that accrues to a city when a long-dormant, contaminated-waste site is cleaned up and brought back to useful life,” said MDEP hearing officer Jane Rothchild. Anti-casino Curtatone may still try to get the decision overturned but Wynn Resorts can start focusing its attention on remediating the aresenic, lead and other industrial goodies with which its land is laced.
million-$70 million project will be sort of a pocket casino, its amenities limited to two fast-food outlets, a café and a sports bar. 
room-cleaning quota to 14 rooms a day (the Atlantic City standard). On the other, he called the Taj “a money pit,” raising questions about the depth of his and Icahn’s commitment to the property. “The company offered to fund a health insurance plan that was offered by Unite-Here but was not quite as rich as the plan at the other A.C. casinos. But it did provide medical insurance for all union members and their families. In addition, the Taj Mahal would have extended health insurance to all non-union members, as well. This one concession would have cost the company multiple millions of dollars,” he also offered to renegotiate terms in 18 months, as well as that new job openings would be coming on line. However, he also said his deal was only valid through end of business Monday, raising the specter of a bare-bones follow-up offer.
passing nod to his first — and still best — movie, Strictly Ballroom. The good news is that 
million). Resorts Digital — aka PokerStars — is still bringing up the rear, but it’s closing the gap, having raised its market share to 16.5% (Caesars Interactive has 18.5% and Borgata leads the market with 23%.) Luck magnified table and slot revenues at Borgata. Table play was 7% down and revenues dropped 12%. Slot handle rose 1% and casino winnings were up 4%. The megaresort grossed $56 million for a 1% decline.
to share players and liquidity. “Even when you discount children and non-gamblers, it gives us access to a market that is very familiar with online gaming. That number is one-fifth of the total U.S. population,” said Division of Gaming Enforcement Director David Rebuck. Online casino games would be foreseeable but sports betting is out of court. However, not all New Jersey i-casino operators — who include GVC and 888.com (the latter is the only operator in the Nevada/Delaware compact) — offer online poker and you’re registered with one of those platforms you’re SOL.
Investors in Rivers Casino have purchased a stake in lead operator Acel Entertainment Gaming, although Rivers owner Neil Bluhm (right) is a slot-route opponent. (Unlike his dad, Andrew Bluhm took a flyer into slot-route investment, although it apparently isn’t going so well for him.) The news comes after Penn National Gaming bought out Prairie State Gaming and another route operator, Gaming & Entertainment Management, was swooped up by Jumer’s Rock Island Casino. Traditional gaming houses “see another revenue source out there and see a way to hedge their bets on the future. If you have a regional casino and you feel video gaming is eating your lunch, then you have the ability to be a part of it,” said Illinois Gaming Machine Operators President Michael Gelatka.
court, seeking permission to tear the antique brewery down. Its odds of prevailing got consistently worse but it found a win-win solution to its problem, selling the Bavarian Brewery to Kenton County, which will use it as office space. “In regards to the physical structure of the old Bavarian Brewery itself, we will make every effort to incorporate it into the planning for the new county administration building. We’ll learn a lot more in the months to come, but I’m confident that the old tower at the Bavarian Brewery will remain an iconic structure in Covington and Kenton County for many, many years to come,” said County Judge Kris Knochelmann. The county will tear down parts of the buildin
voiced opposition to the project, which would be near Suffolk Downs (the ballot question is worded in such a way that no other site in the state would be eligible). Wannabe casino owner Eugene McCain has spent at least $6.5 million snapping up land near the racetrack. “I am making offers on many properties, but this is not something I can presently address as these are private discussions and contingent transactions,” McCain told the Boston Globe from his hideout in Thailand. McCain has good reason to keep a low profile, since his colleagues 
the ace up its sleeve, the company has had difficulty cashing in on its value — until now. Forget Viva, forget the mixed-use development Station recently previewed for Wall Street. No, the Wild Wild West site, which comes with 100 acres of overdue-for-redevelopment real estate is suddenly a prime contender for a stadium — as is a parking lot northwest of the Thomas & Mack Center (which still might be too close to McCarran International Airport for the FAA‘s comfort). The presumptive favorite site, Trop 42, next door to McCarran, 
in 2004, Trump-owned casinos prospered while the rest of the market weathered a month-long strike. In fact, a picket line hasn’t been seen in front of a Trump-branded property since the last century. Said cocktail waitress Valerie McMorris, “We always had a contract. He never took away our health care, our pension, our wage break. In that regard, I feel he always had our backs,” drawing a contrast between Trump and Icahn catspaw Bob Griffin. Her sentiments were seconded by server Bill Rampolla: “Every time a contract came up for renewal, he was the very first one to sign the deal.” “I didn’t have any problems,” threw in a former Trump employee. (Strike breakers at the Taj, incidentally, will include Flo Rida, in case you needed an excuse to boycott him.)
in “up yours, asshole”) brand, which produced a 5% uptick at misbegotten ThistleDown Racino ($9 million) but saw a 13% dive at Jack Cincinnati, which grossed ($14 million). Another property that was a big miscalculation, Pinnacle Entertainment‘s racino Belterra Park, was up 16%, registering $6 million. At other tracks, Eldorado Resorts‘ Scioto Downs was flat, notching $12 million, while Hard Rock Rocksino continued to lead the state with $18 million, up 7%. Miami Valley Gaming gained 8%, for an $11 million score, while Penn National Gaming properties were mostly ‘meh,’ although even in a flat month Hollywood Austintown ($8 million) generated a remarkable $273/slot/day. Hollywood Toledo ($16 million) fell 6%, Hollywood Dayton ($7 million) lost a percentage point but Hollywood Columbus pulled the chestnuts from the fire with a $17 million haul, up 3%. As for that “Jack” thing, why didn’t Gilbert just re-brand as, say, Douchebag Cleveland and have done with it?
writers to pull off.) If the WSJ had its way, Atlantic City 
The alleged motivation is to keep up with Steve Wynn and his Wynn Paradise Park adult playground, slated to open four years hence. We’d miss 
against the casino application of the St. Regis Mohawks. Not man enough to oppose the tribe openly, Trump hid behind the bogus front of the so-called New York Institute for Law & Society. Sounds very prestigious and academic, doesn’t it? It boasted 1,200 “pro-family” contributors but, except for a couple of $20 checks, only had one underwriter: Donald Trump.-
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