All Adelson, all the time; Full House on the move

(Update: The Adelson-influenced meddling has already begun.)

Now that Sheldon Adelson owns the Las Vegas Review-Journal, the paper’s prime topic of coverage has become … itself. There’s no shortage of entrail-reading, as pundits try to parse the casino mogul’s intentions. In a sheldon-adelson-25sense, Adelson has already won a key battle: One of today’s lead stories features everyone from Sen. Harry Reid (D) to Caesars Entertainment‘s Jan Jones Blackhurst going out of their way to say nice things about Sheldon. We’re also given a foretaste of the nouveau regime when Publisher Jason Taylor lectures one of his own reporters for daring to ask questions about Adelson’s ownership, sniffing, “My recommendation is focus your energy on making the brand stronger.” As though to demonstrate its editorial independence, the R-J ran an unflattering photo of Adelson in which he appears to be wearing a mohair beanie. (Smoke ’em while you got ’em.)

Such gestures may be all fun and games but the real question is Continue reading

Posted in Colorado, Dan Lee, Harrah's, Harry Reid, Internet gambling, Lake Tahoe, Macau, MGM Mirage, Politics, Sheldon Adelson, Steve Wynn | 1 Comment

Adelson’s new toy; MGM: ‘Zarkana’ out, architectural innovation in

Sheldon ALas Vegas‘ worst-kept secret is out: Sheldon Adelson is the new owner of the Las Vegas Review-Journal. He’s claiming that the clumsy subterfuge was needed so as not to “distract from the important role Nevada continues to play in the 2016 presidential election” by hosting a GOP debate at the Venetian, an explanation that doesn’t pass the laugh test. That’s precisely the sort of conflict of interest the R-J ought to be disclosing. He says the Adelson family “wants a journalism product that is second-to-none [sic] and will continue to invest in the paper to achieve this goal.” At least the promise to reinvest in the product is encouraging, as Stephens Media was slowly bleeding the R-J to death, a couple of ownerships ago. (The wretched copy-editing that mars R-J stories is one scar left by Stephens’ malign neglect.)

 

As John L. Smith, who has been a victim of Adelson’s wrath, could tell his colleagues, they’d better Continue reading

Posted in Architecture, Cirque du Soleil, CityCenter, Election, Harrah's, Harry Reid, MGM Mirage, Politics, Sheldon Adelson, Taxes, The Strip | 4 Comments

Quote of the Day

stevewynn“I was probably a little tougher on them than I should have been on the conference call. But look, I have made promises to the people over there, and it’s only fair that they help me keep those promises. But it wasn’t as serious as everyone made it out to be: ‘Wynn blasts government.’ I didn’t blast anybody. I’ve been their fair-haired boy in Macao since day one. But it’s okay to complain a little. It’s okay to have a different point of view.” — Steve Wynn, peddling some revisionist history as he tries to get more table games for Wynn Palace.

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GLPI gets a racino; Reckless casino rhetoric

horseAfter over a year of litigation, Gaming & Leisure Properties has come to terms with Cannery Casino Resorts over the sale of Meadows Racetrack, near Pittsburgh. (Next step for GLPI, find an operator. Penn National Gaming? Pinnacle Entertainment?) Considering that GLPI’s initial purchase price was $465 million, that the latter has been knocked down to $440 million and that the racino has grossed $247 million thus far this year, the settlement looks like a win-win-win for GLPI. We don’t know why Cannery was so eager to be rid of such a lucrative asset, but it’s been GLPI’s good fortune that it did.

* Democratic presidential candidates Sen. Bernie Sanders and Martin O’Malley (below) are fond of likening the banking industry to Continue reading

Posted in Boyd Gaming, Cannery Casino Resorts, Dining, Election, GLPI, Harrah's, Maryland, Movies, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Sheldon Adelson, Station Casinos, Wall Street | 1 Comment

Boston: Has Wynn finally won?; Massachusetts mulls i-poker

Boston Mayor Martin Walsh seems to have finally put his grandstanding aside and is making conciliatory noises about Wynn Resorts. Has the smackdown of his lawsuit against the Massachusetts Gaming walshCommission finally brought Walsh to his senses? Or is this another head-fake by the fractious Mayor McCheese? Boston Globe columnist Adrian Walker thinks it’s the former, given the $1 million already spent on litigation. Further appeals would be, he argues, “fiscally irresponsible.” That’s as may be but we haven’t known logic to slow Walsh down yet. If the lawsuit was intended as a shakedown of Steve Wynn for more money, it was an utter failure. Adds Walker, “it’s hard to see how this suit has strengthened the city’s hand in any way. Looking foolish is no way to gain leverage.”

Walker calls Walsh’s crusade against Wynn  “an unwinnable war with no convincing rationale.” The mayor’s allies Continue reading

Posted in Dan Gilbert, Detroit, Donald Trump, Internet gambling, Massachusetts, MGM Mirage, Pennsylvania, Politics, Regulation, Steve Wynn, Transportation, Westgate LV | Comments Off on Boston: Has Wynn finally won?; Massachusetts mulls i-poker

RAWA bombs on Capitol Hill; DFS currently on the wane

It’s looking more and more like Rep. Jason Chaffetz‘s effort to move his (actually Las Vegas Sands‘) “Restoration of America’s Wire Act” has hit a Chaffetzdead end. Last week’s hearing found widespread skepticism, even hostility, among the members of Chaffetz’s own committee, while his hand-picked witnesses performed badly on the stand. By trying to override the 10th Amendment with the Commerce Clause, Chaffetz alarmed defenders of the Second Amendment, who feared that it would be next for congressional reinterpretation.

Chaffetz, “a loathsome human being with no real interest in learning the truth about online gambling,” and his invited goons frequently fell back on xenophobia, citing the overseas ownership of sites like Betfair as a threat to our national security. The loopiest pro-RAWA argument was made by Continue reading

Posted in Election, Georgia, Harrah's, Internet gambling, Politics, Sheldon Adelson, TV | 1 Comment

Big online month for Atlantic City

In the casino industry, $13 million may not be a lot of money — but it represented a 51% gain for Atlantic City‘s online casinos and made up for tropicana_havanasoftness at brick-and-mortar gambling houses. Slot revenue was down 3% on 2.5% less coin-in, while table games won 3% more on 3% less volume. Borgata had a less-than-stellar month at the tables: 6% fewer winnings on 2% money wagered. Its slots, however, brought in 6.5% more money on 6% higher coin-in. Borgata continued to dominate online market share, with 31%, while dark horse Tropicana Atlantic City edged past Caesars Interactive (21%) into second place, with 22.5%.

Thanks to the healthy online contribution, gross gaming revenue for the Boardwalk was down only 1% for November. The evil spirit of Continue reading

Posted in Atlantic City, Boyd Gaming, Colony Capital, Harrah's, Internet gambling, MGM Mirage, Mohegan Sun, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts | 1 Comment

Casinos progress in Georgia, New Jersey

Almost without overt human effort, the movement toward casino gambling in Georgia appears to be snowballing. Prime mover behind the low-key, but ron stephensseemingly inevitable process is state Rep. Ron Stephens (R, left), whose bill would not only put two casinos in Atlanta but one in his home town of Savannah. (Three others would be placed at corners of the state.) Heck, even Gov. Nathan Deal (R) is sounding like he might sign off on a casino bill if the tax rate is lifted above the investment-friendly 12% Stephens proposes.

Lobbyists are already thick on the ground. Boyd Gaming and Penn National Gaming have three each pressing the flesh but MGM Resorts International has contributed 14 to the effort. Atlanta has become a highly coveted prize for the company. Anti-casino groups, meanwhile, are Continue reading

Posted in Architecture, Atlantic City, Boyd Gaming, Cordish Co., Election, Georgia, Greenwood Racing, Massachusetts, MGM Mirage, Penn National, Pennsylvania, Politics, Tribal | Comments Off on Casinos progress in Georgia, New Jersey

‘Jubilee’ axed; DFS banned and reprieved

It was probably a mercy to Ffolliott “Fluff” LeCoque that the Las Vegas showbiz legend died two days before Caesars Entertainment buried a dagger in the heart of Jubilee. LeCoque had been part of the original cast and ballys-jubileewent on to be the show’s den mother, maintaining creator Donn Arden‘s legacy. Her thoughts on pop choreographer Frank Gaston Jr.’s disastrous reboot of the show are unrecorded but it’s unlikely they would have been favorable. Caesars will drop the final curtain on the 34-year-old show on Feb. 11. So far, no one has pointed the finger of blame at Caesars CEO Mark Frissora but cost-cutting is his trademark and, with its scores of dancers and innumerable rhinestones, Jubilee would have made a tempting target for the red pencil.

Of course, Caesars is promising something spectacular in Jubilee‘s place. After all, the theater is an awe-inspiring technical asset that Continue reading

Posted in Entertainment, Florida, Hard Rock International, Harrah's, history, Horseracing, Internet gambling, Law enforcement, New York, Politics, Racinos, Regulation, Seminole Tribe, Taxes, The Strip, Tribal | 1 Comment

Happy birthday, Frank Sinatra

Here’s to the 100th anniversary of the birth of Francis Albert Sinatra, the man arguably more synonymous with Las Vegas than any other.

Posted in Entertainment, history, The Strip | 1 Comment

Adelson’s Capitol Hill puppet show

Rep. Jason Chaffetz (R) held another kangaroo court on Internet gambling and was in his best Sheldon Adelson-like Luddite form, scoffing at geofencing software. “It’s naive at best to think you can put a wall on the Internet,” said the willfully ignorant Chaffetz. At least the playing field was a bit more level than in Chaffetz’ previous media circus, held before the House Judiciary Committee. (When you can’t ram it through one committee, try another.) This time, New Jersey state Sen. James Whelan (D) got to have an at-bat in favor of Atlantic City‘s ‘Net-betting setup.

He got a pushback from South Carolina Attorney General Alan Wilson, “Regulation of online gambling has proven difficult at the state level [Says who?] and I anticipate that it will Continue reading

Posted in Atlantic City, Cretins, Delaware, Harrah's, Internet gambling, Iowa, Law enforcement, Macau, Politics, Regulation, Sheldon Adelson, South Carolina, Technology | Comments Off on Adelson’s Capitol Hill puppet show

Big card room bust in California

Earlier this week, American Gaming Association President Geoff Freeman unveiled a stern new set of anti-money laundering guidelines, lest any casinos out there hadn’t gotten the memo that Uncle Sam means business when it comes to enforcing AML rules. As though to reinforce Freeman’s point, California and federal authorities raided two card rooms, Seven Mile Casino in Chula Vista and Palomar Card Club in San Diego. The raids and the unveiling of a multi-count indictment against 25 individuals were the consummation of what was described as a year-long probe. The charges raided from the mundane (illegal blackjack) to the exotic (transportation for prostitution), in addition to money laundering.

Agents carted off $600,000 — a down payment on the $10 million the Continue reading

Posted in California, Geoff Freeman, International, Internet gambling, Law enforcement, MGM Mirage, Penn National, Regulation, Steve Wynn, Tribal | Comments Off on Big card room bust in California

Louisiana: Robbing Peter to play Paul; New disclosures from Genting

Were it not for the Golden Nugget Lake Charles, gaming revenues would have stumbled 7.5% downward last month. Add Tilman Fertitta‘s new GoldenNugget Lake Charlesshowplace, which grossed $20 million, and you have a 15% increase in the Lake Charles market. But, as good as that was, something was very wrong at Pinnacle Entertainment‘s L’Auberge Lake Charles ($24 million), where revenues plummeted 26%. Golden Nugget also took a big bite out of Isle Grand Palais ($10 million), where revenue fell 16%. Still, at $68 million, Lake Charles was comfortably the premier market in the Pelican State.

Pinnacle’s Lake Charles problem didn’t replicate itself in Baton Rouge, where L’Auberge Baton Rouge was up 20%, grossing Continue reading

Posted in Boyd Gaming, Eldorado Resorts, Genting, GLPI, Harrah's, Isle of Capri, Louisiana, Pinnacle Entertainment, Rhode Island, The Strip, Tilman Fertitta, Tropicana Entertainment | 1 Comment

No misery in Missouri; Packer’s Vegas venture in question

November was a tranquil month for Missouri casinos, exemplified by Penn National Gaming‘s Argosy Riverside, in Kansas City, dead even with last year. Statewide, foot traffic was down 5% and spending up 6%, Argosy KCparticularly at table games, where winnings rose 7%. The nearest thing to high drama was a 10% duve in revenues at Harrah’s North Kansas City, as bankruptcy malaise continues to spread through the Caesars Entertainment chain. Maybe some of those customers were picked up by Ameristar Kansas City, whose revenues rose 5%. Isle of Capri Kansas City was down a percentage point but a variety of small gains and losses in the quartet of Isle of Capri Casinos properties in Missouri translated into a flat month.

In the St. Louis market, Tropicana Entertainment finally had some news to report, as Lumiere Place — long besieged by access problems — had a Continue reading

Posted in Ameristar, Florida, GLPI, Harrah's, Internet gambling, Isle of Capri, James Packer, Missouri, Penn National, Pinnacle Entertainment, Politics, Seminole Tribe, The Strip, Tribal, Tropicana Entertainment, Wall Street | 1 Comment

Quote of the Day

Caesars Sinatra.jpg“He seemed now to be also the embodiment of the fully emancipated male, perhaps the only one in America, the man who can do anything he wants, anything, can do it because he has money, the energy, and no apparent guilt.” — Gay Talese on Frank Sinatra, in the 1965 profile, “Frank Sinatra Has a Cold.” Sinatra’s centenary is December 12.

Posted in Environment, history | Comments Off on Quote of the Day

DFS attempts end run; Mississippi’s new showplace

Daily fantasy sports firms DraftKings and FanDuel took their case to New York State lawmakers yesterday, appearing at a hearing convened by a consortium of Assembly committees. The DFS providers said they’d accept regulation but stopped well short of outlining just what would constitute fair oversight in their mind. Fantasy Sports Trade Association Chairman Peter Schoenke‘s call for “boundaries so these games are fair to everyone.” seems to be as specific as things got.

PretlowThe one clear, bright line that was drawn was Assembly Racing & Wagering Committee Chairman Gary Pretlow‘s statement that the legality of DFS was the province of the judiciary and that lawmakers were there to find out how the industry works. Indeed, they seemed as much in the dark on that matter as the DFS proponents were vague about regulation. The one exception was Assemblyman Dean Murray (R), who plays DFS in his spare time and called it “nothing more than day trading for sports fans.”

Strangely, state Attorney General Eric Schneiderman declined an invitation to speak at the hearing, leaving the “con” argument to be made mainly by anti-gambling groups … Continue reading

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Racinos under siege in Texas; Seminole compact no sure bet

Texas Gov. Greg Abbott (R) wanted the Texas Racing Commission to repeal its approval of ‘historical racing’ at Lone Star State tracks. Rather than put it on the agenda, commission Chairman Robert Schmidt handed in his gavel, exchanging the chairmanship for an ordinary seat on the TRC. Abbott gave the chairmanship to Rolando Pablos, who was quick to accommodate the governor’s wishes. Schmidt downplayed the clash as “an honest difference of opinion,” although that doesn’t fully explain why he chose to step down rather than simply hold a vote. He and Abbott were also at odds with how soon the vote was to be held, with Schmidt maintaining that he was willing to revisit the issue in February.

The Texas Lege has repeatedly threatened to defund the TRC unless it pulled the offending devices, shown above. At issue is whether Continue reading

Posted in Florida, Hard Rock International, Horseracing, Massachusetts, Penn National, Politics, Racinos, Seminole Tribe, Taxes, Technology, Texas, Tribal | Comments Off on Racinos under siege in Texas; Seminole compact no sure bet

Wynn’s big buy; DFS in retreat

Steve Wynn is $63,800,000 lighter in the wallet this morning, after purchasing one million shares of Wynn Resorts on the open market over Steve-Wynn-201198-1-402the last three days. This brings his total stake in the company to slightly more than 11 million shares. “Given this is the first meaningful insider purchase and the first sizeable open market purchase by Mr. Wynn in some time, and given current short interest levels … it should come as little surprise that shares are indicated up ~9% in aftermarket trading,” wrote Deutsche Bank analyst Carlo Santarelli. “Furthermore, in our view, anytime a CEO buys a meaningful stake it sends a favorable message.

“While Mr. Wynn’s purchase will likely be a much needed spark for shares, at least in the short term, we believe it is prudent ‎to Continue reading

Posted in Internet gambling, Law enforcement, Macau, Pennsylvania, Politics, Racinos, Regulation, Steve Wynn, Warner Gaming | Comments Off on Wynn’s big buy; DFS in retreat

Las Vegas’ latest efforts to combat the online casino revolution

By Walter Allen

Although Las Vegas has long enjoyed a reputation as being the world’s premier casino destination, in the 21st century it has faced unprecedented paris-las-vegascompetition. Not only are alternative gambling hotspots such as Macau in their ascendancy, but increasingly the rise of online casino sites has threatened to lure many away from the self-proclaimed party capital of the world.

There are currently 75 casinos in the main Las Vegas area with 43 of these concentrated on the Strip that provides the main attraction to the 40 million tourists who visit Las Vegas each year. However, beyond these main casinos there are many other gambling locations dotted around the city that can range from Continue reading

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MGM’s sudden Connecticut ardor; Labor peace in Detroit

Connecticut‘s government is trying to have an MGM Resorts International lawsuit dismissed, but MGM isn’t going away quietly. It’s targeted the no-bid process whereby a Mohegan SunFoxwoods Resort Updated MGM SpringfieldCasino joint venture was juiced into a third, off-reservation casino, location still to be determined. (Were MGM to actually pursue a casino in Connecticut, its agreement with Springfield would forbid it from getting much closer to the Hartford market than New Haven.) Technically, casino expansion isn’t limited to the tribes, they’re merely authorized by law to form the JV. But the advent of non-tribal gaming in Connecticut would mean the end of Native American revenue sharing with the state, so the fix might as well be in.

“The exclusive, no-bid process violates the Equal Protection and Commerce Clauses of the United States Constitution,” counters MGM Continue reading

Posted in Culinary Union, Detroit, Donald Trump, Economy, Election, Foxwoods, Genting, International, Massachusetts, MGM Mirage, Mohegan Sun, Phil Ruffin, Sheldon Adelson, Singapore, Tourism, Tribal, Wall Street | Comments Off on MGM’s sudden Connecticut ardor; Labor peace in Detroit