Tohono O’oh no!; Backlash in Macao

Posted on September 18, 2015 by David McKee

Judge David Campbell accepted the Tohono O’odham Nation‘s assertion that it could make as much money from Class II electronic-bingo machines as it could from conventional slots. And that’s bad Glendale casinonews for the tribe. While it can open a Class II facility without the blessing of the state, Campbell ruled that the Arizona casino can’t compel Gaming Director Daniel Bergin to certify it for Class III. This is the first time Campell has ruled against the Tohono O’odham, causing rival Gila River Indian Community President Stephen Roe Lewis to take a victory lap: “For years, the Nation has claimed that their position is invincible in court. The judge’s ruling shows otherwise, handing the Tohono O’odham a clear loss and changing the momentum of this case.”

Even so, the news can’t have been half as bad for the Tohono O’odham as Continue reading →

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Quote of the Day

Posted on September 18, 2015 by David McKee

“These regulations, you had me at hello. They really touched a personal note to me.” — Nevada Gaming Commission Chairman Tony Alamo Jr., getting all emotional over skill-based slot games.

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China comes to Las Vegas’ rescue; MGM chock-full of cultural initiatives

Posted on September 18, 2015 by David McKee

High-speed rail to Las Vegas is “on” again, with China emerging as Sin City’s savior. The budget for the China Railway Group/XpressWest Enterprises  joint venture hasn’t been disclosed but $100 million in startup capital has been committed to Xpress Westfund the 230-mile route, with September 2016 penciled in as the starting date. Now, it’s a 270-mile drive from Los Angeles to Las Vegas, so that raises the question of whether the train will link the two cities or drop off passengers somewhere else (like Primm).

Four years in the making, the agreement is meant to herald Chinese President Xi Jinping’s visit to the states. Factories in China are already Continue reading →

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MGM lashes out; Doldrums in Louisiana

Posted on September 18, 2015 by David McKee

It took a while but MGM Resorts International is pushing back against Connecticut‘s attempts to build a satellite version of its tribal casinos, to interdict gamblers who might otherwise play at MGM Grand Springfield. Although he didn’t hint at litigation MGM Springfield 2(yet), MGM spokesman Alan Feldman challenged the constitutionality of the legislative process that brought Mohegan Sun and Foxwoods Resort Casino together. “Last week’s announcement was a continuation of an unconstitutional process that does not allow anyone else to make proposals that could result in greater benefits for the state of Connecticut, its residents and consumers. This is the result of a flawed, closed-door deal that shuts out voters in the approval process, eliminates all competition and doesn’t provide any protections for workers,” Feldman said.

MGM’s sudden access of concern for Connecticut consumers and workers rings more than a bit hollow, considering that Continue reading →

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Water, water everywhere at Revel

Posted on September 17, 2015 by David McKee

Glenn Straub has a new problem at Revel: water. Oh, he doesn’t lack for it. There’s standing water in Revel’s 47 stories of pipes. But revel_0469what if cold temperatures come and Straub hasn’t gained control of ACR Energy Partners‘ heating plant? Not only could burst pipes damage Revel itself, where the windows are breaking and the patio is rusting, they could present a fire hazard. And draining the pipes isn’t an option because, in case of fire, it would take too long to fill them again. “You’re required to get water to that sprinkler head within 60 seconds, and there’s no way to go that many floors, 400-and-some feet in the air, within 60 seconds. It’s totally impossible,” the city’s construction czar, Wallace Shields, explained to The Press of Atlantic City.

ACR has cut off hot water to Revel, as the two sides battle Continue reading →

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Quote of the Day

Posted on September 17, 2015 by David McKee

“I strongly concur that it is most unfortunate that only after the fact Showboat ACdid the board and I learn that the outside counsel handling the transaction for the university was not admitted to practice in New Jersey.” — former Stockton University President Herman Saatkamp Jr., issuing a mea culpa for a lack of due diligence by Stockton but standing by his decision to buy the former Showboat hotel-casino.

Posted in Atlantic City, Harrah's | 1 Comment

Asia, land of opportunity

Posted on September 17, 2015 by David McKee

Asia “can comfortably absorb” the 30 new casinos that are slated to open between now and 2020, says a CLSA Ltd. report. The region is macau-casinos_1trending toward the bigger-is-better approach, as many of the new casinos are megaresorts that could easily stomp smaller operators. The growth potential could be greater still, but Cambodia, Vietnam and South Korea do not like for their own citizens to be gambling, and the Japan market seems as far from opening as ever, maybe farther, with enabling legislation unlikely to pass before 2017 at the earliest.

Unlike the U.S., “Asian countries also tend to limit gaming licences to just a few operators who are willing to build massive integrated resorts,” read the report. The $50 billion currently invested in Asian gaming growth will ramp up to Continue reading →

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Fantasy sports pushback; Wynn “punished enough”

Posted on September 17, 2015 by David McKee

If the glutting of our TV screens with obnoxious FanDuel and DraftKings ads has not been enough to trigger a backlash, it has NFLbeen sufficient to inspire Wynn Las Vegas‘ resourceful sports books director, Johnny Avello, to devise his version of casino-based fantasy wagering. He’s created a prop bet in which punters are given a choice of two fantasy-team rosters and allowed to bet on one over the other. It’s one way to probe what American Gaming Association President Geoff Freeman calls “the current lack of legal clarity.”

Meanwhile, NFL owners — including Jerry Jones and Robert Kraft — aren’t hesitating to get deeply into bed with Continue reading →

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A lesson from Ohio; Murren goes to Georgia; Big changes at Sands

Posted on September 16, 2015 by David McKee

Two years ago, Ohio was grappling with what J.P. Morgan analysts called “a sluggish ramp” for its casino industry. He may Kasich_Johnhave been against casinos before he was for them but Gov. John Kasich‘s supersized version of predecessor Ted Strickland‘s envisioned industry is finally pulling its weight. According to figures from the American Gaming Association by way of Oxford Economics, casinos and racinos in Ohio are creating 8,000 indirect jobs and 9,525 direct ones, for an economic impact of $3 billion, including $1.5 billion in gambling revenues. Since the AGA study predated the opening of two Penn National Gaming racinos, that impact is now greater still.

The gaming industry was also responsible for $917 million in tax revenue, a point that AGA President Geoff Freeman would like to Continue reading →

Posted in CityCenter, Economy, Election, Foxwoods, Galaxy Entertainment, Geoff Freeman, Georgia, Harrah's, Horseracing, Isle of Capri, M Resort, Macau, Massachusetts, MGM Mirage, Midnight Jim Gibbons, Mohegan Sun, Ohio, Penn National, Politics, Problem gambling, Regulation, Sheldon Adelson, Steve Wynn, Taxes, The Strip, Wall Street | Comments Off on A lesson from Ohio; Murren goes to Georgia; Big changes at Sands

Savior for Showboat?; Steve Wynn to build locals casino

Posted on September 16, 2015 by David McKee

Bart Blatstein has emerged as the potential savior for the Showboat, currently a millstone around Stockton University‘s Showboat_Atlantic_Cityneck. If so, it will be a bittersweet coup for the developer, as it’s the second time he’s missed out on a gaming license, first being passed over for Philadelphia‘s final casino concession and now inheriting a casino whose gambling entitlement was revoked by Caesars Entertainment. A Philadelphia Inquirer source says Stockton will make back its $18 million purchase price and then some, though perhaps not enough to recover $8 million in upkeep costs.

Stockton found itself stuck with a white elephant when Caesars finked out on a promise to Continue reading →

Posted in Atlantic City, Charity, Economy, Glenn Straub, Harrah's, International, Marketing, Massachusetts, New York, Racinos, Steve Wynn, Taxes, The Strip, Trump Entertainment Resorts | 2 Comments

China is the watchword; Atlantic City rebounds

Posted on September 16, 2015 by David McKee

Builders of $135 million Lucky Dragon Casino, across Sahara Avenue from the former Circus Circus RV park, are fast-tracking the project for a mid-2016 opening. Financed with EB-5 visa contributions, Lucky DragonLucky Dragon hopes to be a one-stop shop for Chinese players visiting Las Vegas. “The local and foreign clientele will go there as a destination and will not be interested in walking up and down the Strip,” says planner Greg Borgel. They’d better not be, as there’s nothing much in the area besides Bonanza Gifts, the Golden Steer restaurant and SLS Las Vegas. The latter, however, has already pinned its hopes for survival on Continue reading →

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Trouble in Fantasyland

Posted on September 15, 2015 by David McKee

Daily fantasy sports leagues have gotten awfully brazen since pairing with major sports leagues, inundating TV airwaves with advertising, and this has gaming regulators in some states looking askance at DFS. The first shot across the bow came from Nevada, where the Nevada Gaming Control Board announced it was undertaking a “legal analysis” of the wagering. The NGCB was responding to pressure from the likes of Boyd Gaming and William Hill Plc. The latter’s Joe Asher remarked, “I think daily fantasy sports betting should be legal, just like I think traditional sports betting should be legal. But let’s not pretend one is OK and the other is not.”

There’s no danger of DFS being outlawed but it could have to be regulated like Continue reading →

Posted in Boyd Gaming, Detroit, Kansas, MGM Mirage, PokerStars, Politics, Regulation, Sports, TV | 1 Comment

First the good news …

Posted on September 14, 2015 by David McKee

Internet gambling revenues were up 16% in Atlantic City last month, for a $12 million haul. Resorts Atlantic City didn’t get Harrahs AC_2much of the action — 6% — but the other four online operators divvied it up pretty equitably. As for the bad news, the Boardwalk was 6% down on a same-store basis. Since Labor Day weekend fell in August last year, that accounts for much of the decline. When the four defunct casinos are factored into year/year comparisons, the dropoff is a queasy-making 16%. Even without the Showboat in the mix, Caesars Entertainment was really in the dog days, down 17% at its three remaining properties. By contrast, Borgata beat the odds and improved 8% on last year’s performance.

Tighter hold and slightly greater volume of play conspired to generate a 22% increase in Borgata table revenue. Slot players enjoyed looser holds and reciprocated with Continue reading →

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Georgia on their minds; How to kill a casino

Posted on September 14, 2015 by David McKee

MGM National Harbor President Lorenzo Creighton dangles some shiny objects and big numbers before Georgia newspaper readers, promising even bigger things for Atlanta, as MGM Resorts International tries to counter lawmakers’ congenital opposition to gambling with suasion and seductive dollar figures. Hearings begin today in the Peachtree State’s Legislature on the potential legalization of as many as six casinos.

It won’t be an easy sell for Continue reading →

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Culinary Union declares war on Deutsche Bank; The NFL’s dirty hands

Posted on September 14, 2015 by David McKee

Deutsche Bank, in its role as 25% shareholder in Station Casinos, continues to draw fire from the Culinary Union. Let’s clear up a couple of things first. Yes, the Culinary still has an axe to boulderstation-picgrind with Station over the non-union status of the latter’s casinos. No, nobody is implying any wrongdoing on Station’s part here. The focus is strictly on Deutsche Bank and its culpability in rigging interest rates. Assistant Attorney General Bill Baer said Deutsche Bank “undermined the integrity and the competitiveness of financial markets everywhere.” Nor is Uncle Sam finished investigating Deutsche Bank, which may have circumvented U.S. sanctions against dealing with Iran, among other matters, including money laundering — a sore spot with Washington, D.C., where the casino industry is concerned.

However, just as some companies (Caesars Entertainment) are too big to fail, others are too big to Continue reading →

Posted in Culinary Union, Entertainment, Harrah's, history, Oklahoma, Regulation, Sam Nazarian, Sports, Station Casinos, Tamares Group, Tribal | Comments Off on Culinary Union declares war on Deutsche Bank; The NFL’s dirty hands

Gural doubles down; Royal brouhaha

Posted on September 11, 2015 by David McKee

Jeffrey Gural wants a casino in New York State so bad he can taste it — or at least invest $82 million of his own money in it. It’s refreshing when a developer makes that kind of equity commitment. Gural’s upped the ante again, raising the budget for the conversion of Tioga Downs by $32 million, making it a $195 million proposition. Gaming Facility Location Board Chairman Kevin Law seemed impressed by Gural’s level of commitment, calling it “a step in the right direction,” and the man himself liked his chances: “The fact that I’m the only bidder helps.” Referring to an earlier presentation that he called “lipstick on a pig,” Law said that this time “It is certainly more than just lipstick. It was some significant changes.”

So does rebalancing the construction budget so that it relies more on Continue reading →

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Tribe outfoxes Arizona; Macao is glutted

Posted on September 11, 2015 by David McKee

Rather than continue waiting for Arizona casino czar Daniel Bergin to reverse himself and give them permission to open a Class III casino, the Tohono O’odham Nation has done an end run. It Glendale casinowill open with 1,089 Class II electronic bingo machines. Since the state can’t regulate tribal Class II gaming, there’s not much Bergin and Gov. Doug Ducey (below) can do about it except sputter and threaten to cancel the Tohono O’odham’s entire gaming compact with the state. (If he does, S&G will change his name to Indian Giver Ducey.) The tribe is suing Bergin and Ducey to compel them to certify the casino. As tribal attorney Danielle Spinelli said, “Enough is enough. The nation is entitled to some relief now.” She added that the tribe would suffer adversity by having to offer only Class II gambling.

There’s the big question: how the market will respond to Class II, which is practically a new — and retrograde — phenomenon in Arizona, where there are only Continue reading →

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Meanwhile at the Linq …

Posted on September 11, 2015 by David McKee

… Brian Brown Photography laid several publicity photos of The Linq guestsLinq on us, so it would be churlish not to share. How do we know these are models and not prototypical Vegas-tripping millennials? For starters, they’re not covered in tattoos, which is a dead giveaway. As for the 3:2 ratio of girls to guys, it suggests there’s going to be some “alternative lifestyle” hanky-panky back up in the room.

Posted in Harrah's, The Strip, Tourism | 1 Comment

That wild and crazy Glenn Straub strikes again

Posted on September 10, 2015 by David McKee

Now that wacky Glenn Straub is out of the picture, Stockton University says it is fielding offers for the ex-Showboat. What anybody can do other than run it as a hotel (Caesars Entertainment having removed its gaming entitlement but forgotten to void a covenant that requires it to be a “first class” hotel-casino). Thwarting Stockton is probably Trump Entertainment Resorts CEO Bob Griffin‘s biggest achievement, other than closing Trump Plaza. He can congratulate himself on impeding efforts to diversify the Atlantic City economy.

Straub, meanwhile, must be sniffing glue. He’s trying to flip Revel for $200 million, far more than Continue reading →

Posted in Atlantic City, Boyd Gaming, Glenn Straub, GLPI, Harrah's, history, Iowa, Isle of Capri, Missouri, Penn National, Pinnacle Entertainment, Revel, Tilman Fertitta, Tourism, Tropicana Entertainment, Trump Entertainment Resorts, Unite-Here, Warner Gaming | Comments Off on That wild and crazy Glenn Straub strikes again

Bluhm restless in Massachusetts; Adelson’s latest innovation

Posted on September 10, 2015 by David McKee

Few regulatory bodies move as slothfully as the Massachusetts Gaming Commission and it’s got one would-be developer, Neil Bluhm, kind of antsy. “I’ve got other things to do,” he told the neil-bluhmBoston Globe, adding, “Do I want to be here? Yes. I’m not giving an ultimatum, but I’m not going to sit here waiting forever.” The MGC, as reported earlier, is holding out for some fantasy-dreamboat casino applicant to emerge for Region C, even though Bluhm’s $650 million proposal is the only one on the table. (Bluhm’s currently building a Rivers Casino in Schenectady, New York.)

The MGC is also dancing attendance on the Mashpee Wampanoag tribe, which might, just maybe qualify for a casino in Taunton in the distant future. It’s also taking public comments on Region C. As Bluhm rightly points out, Continue reading →

Posted in Entertainment, Foxwoods, Genting, Harrah's, Massachusetts, Mohegan Sun, Neil Bluhm, Planet Hollywood, Regulation, Sheldon Adelson, Singapore, Taxes, The Strip, Tribal | 1 Comment