Find me one casino company that doesn’t carry long-term debt …. like the -$2.8 billion sitting on the balance sheet of Wynn Resorts, right, Steve?
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A big S&G ‘thank you’ to generous reader Jeff_in_OKC and his lovely wife Lisa, who shared the following observations from a recent Las Vegas sojourn, with a particular emphasis on the Riviera: Although I will pick some nits, I must say most importantly: THERE ARE GOOD THINGS HAPPENING HERE.
Considering the number of resident spectacles, topless shows and convention gigs that require showgirls galore, you’d think casting directors would be receptive to the female form in all its wonderful variety. You’d think that. However, a former Jubilee! dancer and current freelance showgirl had a quite a different experience when auditioning for a producer whose taste in pulchritude is strange but quite typical, I am told, of the attitude pervading the Las Vegas Strip nowadays. (I’ve heard of women being perversely turned down for Crazy Girls, famous for its array of derrieres, on the grounds that they had too much ‘junk in the trunk.’) To wit:
With the city all buttoned up as of 4 p.m. yesterday, the last week of October will be a revenue washout and, depending on the extent of the damage, some of November might be gone with the wind, too. Which means that Atlantic City could get as much as a nine-week “mulligan” on its year-over-year revenue comparisons. Gov. Chris Christie (R) would also be able to take the high moral ground against racino-hungry legislators, shaming them for wanting to kick the Boardwalk while it’s down.
This just in … peripatetic chef Carla Pellegrino has just released a statement in which “announces her mutual separation from Tropicana Las Vegas,” after 19 months overseeing its Italian restaurant, Bacio. The Brazilian chef, also late of Rao’s at Caesars Palace, referred to “exciting new opportunities” but mentioned nothing specific than her ongoing relationship with fusion restaurant Bratalian, down in Henderson. Unlike most servings of divorce papers, there was no description of an “amicable” parting, just an illusion to a new Significant Other … whom LVA‘s Research Department identifies as being the new Meatball Shop at South Strip mall Town Square, along with a recurring role on Top Chef: Seattle. The Trop, however, may need to sue for alimony after a recent quarterly loss of $6 million. But seriously … how many of Alex Yemenidjian‘s high-profile business relationships have ended messily … Jamie Gold … Nikki Beach … Paul Rodriguez … now Pellegrino … we’ve long since lost count. (At least he hasn’t, to the best of my knowledge, been sued by
“Lightweight” might be a apt term to describe the braintrust forming around the SLS/Sahara project. So would “miscast.” Reporting to casino novice and owner Sam Nazarian, its president will be J.P. Morgan investment banker Sam Bakhshandehpour. His main qualification for the job? Well, according to Howard Stutz, “[he] worked with Nazarian earlier this year to secure $300 million in financing for renovation of the Sahara into the SLS Las Vegas.” Good enough for me! Put that man in charge of a new, un-branded Strip casino!
“For my part, I have no problem characterizing these corporate-centric super-PACs as treasonous. They are designed to subvert American democracy and turn our country over to the moneyed aristocracy. Their aspirations are apostasy to the notion of democratic governance that our Founders intended. We are now in a free fall toward old-fashioned oligarchy, that noxious thieving, tyrannical, oppressive species of government that America’s original settlers fled Europe to escape.” — Robert F. Kennedy Jr.
Trump International is hawking bargain rates for the Yuletide season, including price-matching, Saks Fifth Avenue discounts, “guaranteed late check out” (translation: Please stay with us!)
online Poker and Casino games in the UK market. Zynga’s UK-based [real-money games] service and bwin.party will launch RMG products including Poker and a full suite of 180 Casino games in the first half of 2013, which include table games such asslots, roulette and blackjack.” And if you’re a FarmVille fanatic, Zynga and Bwin.party will offer British punters “the first-ever, online FarmVille-branded real money slots game.”
Monday’s interview with Interblock global sales supremo Tom O’Brien (right) yielded some passing observations that are probably too peripheral for my upcoming Casino Life piece … but perfect for S&G. Interblock maintains field offices in Las Vegas (soon to become the de facto headquarters) in Australia, Macao and Nova Scotia. In order to staff these, O’Brien takes a ‘horses for courses’ approach: “For instance, you don’t put an American in Macao who’s never run that market before. He needs to study it. Australia, the same thing. You can’t run an American over to Australia and say, ‘Go ahead and run this market. It’s gonna be great for you.’ You have to find an Australian operator or vendor who’s got that kind of background.”
Ouch! Sounds like a bank-shot reference to
In attempt to get some TV time, Donald Trump vowed he was going to say something to someone about somebody else today. But frankly …
Whenever one goes to a gaming expo, one of the main lines of product on display is the robo-dealer. You know: An electronically run roulette, blackjack, baccarat, craps or sic bo “table” (more of a big workstation, in reality), presided over by an unsettlingly blank-faced, computer-generated “dealer.” These sorts of machines are coming on strong both domestically and overseas (particularly in Spain). However, they’ve run into player resistance in the world’s two most gambling-mad marketplaces: Macao and Singapore.
Shortly before Global Gaming Expo, I had a chance to sit down with Boyd Gaming CEO Keith Smith and query him on the company’s growth strategy, which will soon plant the Boyd flag in Kansas and Iowa. While many casino CEOs talk like an SEC filing, Smith is a pleasure to interview: Economical with words, right to the point and
limited engagement at the Smith Center for the Performing Arts. The low-overhead, high-recognition Broadway hit is a logical follow-up to Paris-Las Vegas‘ acquisition of Jersey Boys and
“I’m a Republican and I’m not voting for Mitt Romney at all! You want to know why? Because of these constant phone calls!” — unidentified, irate Las Vegas Philharmonic patron, overheard speaking to a telemarketer in a Smith Center for the Performing Arts restroom stall, where he’d gone to answer the call of nature … the only call that cannot be forwarded.
If you want to see
Folks down in the Pelican State had better things to do than gamble last month … like clean up after Hurricane Isaac. This might account for a 5% year/year decline in casino revenues. Louisiana‘s gambling venues grossed $200 million last month, posting a 2% increase entirely on the strength of Pinnacle Entertainment‘s new L’Auberge Baton Rouge. And I mean strong: $13 million, which was more than Baton Rouge‘s two other casinos grossed ($12 million) together,
$23 million). Louisiana Gov. Bobby Jindal (R) opposed this project and, faced with revenue and job creation on that magnitude, he’s welcome to suck it. Remember, this is the same fella who tried to demonize high-speed rail along the I-15 corridor as “a train from Disneyland to Las Vegas,” even as
and a better financial performer than its predecessor, the unlamented Viva Elvis. However, does anyone find