Some Wynn, some of the time

Having been eclipsed both as a political mover and shaker, and — dare I say it? — casino developer by Sheldon Adelson, the suddenly ubiquitous Steve Wynn appears to be trying to regain the spotlight. His recent KSNV-TV marathon landed with a faint ‘plop’ in print media — unless you count Catholic Online — but got him a soapbox on cable-news channels. Despite looking quite bleary-eyed in a CNBC appearance from Düsseldorf (sorry, no embed available), El Steve offers stock tips, displays excellent German pronunciation and marshals his facts more effectively than in his arm-flailing Face to Face stemwinder. In other words, he took a massive Chill Pill. But gawd … is Baron Capital CEO Ron Baron a shameless ass-kisser or what? If Wynn is surrounding himself with sycophants like Baron it’d be no wonder that he sometimes seems out of touch with what most of us define as real life.

Wynn definitely states his case far better when he knows he’s playing to a national audience, instead of just venting in the general direction of the nearest journalist he can find. However, the Culinary Union should prick up its ears at the 13-minute mark, where his meds wear off and he starts spouting anti-union blather. Wynn’s relationship with the Culinary has been one of the most proactive on the Strip — including floating its health program a loan recently — but if he thinks unions should be driven out of the school system, does he also believe Wynn Resorts would be better off with a non-union workforce? D. Taylor, take note!

It’s a reasonable question. As you can see for yourself, Wynn likes to think of himself as Continue reading

Posted in Culinary Union, Current, International, Sheldon Adelson, Taxes, The Strip, TV, Wall Street | 2 Comments

You can’t cure stupidity

For the record, I wouldn’t know John Oceguera from a manhole cover and the amount of ‘truthiness’ in this ad is of no concern to me. But it’s in heavy rotation on Las Vegas TV stations and makes me grind my molars every time I see it. Why? Because it was obviously crafted by some K Street snobs who think we Silver State rubes need to have everything spelled out to us in cheesy, ancient casino metaphors because we’re too fucking dumb to do anything but gamble. Condescending much? I give this spot an ‘F’ for creativity — or lack thereof — and a ‘D’ for dumbassitude.

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Steve Wynn attends vice-presidential debate in drag

Just kidding … but I made you look!

Posted in Cretins, Current, TV | 1 Comment

Revenue roundup: Ohio, Maryland, Missouri & Indiana; Mohegan Sun snow job

Let’s start with the new kid on the block …

Ohio: September saw Ohio‘s two casinos and one racino rake in an aggregate $50 million. The ‘novelty factor’ has waned, along with vacation time, since June’s $58 million haul, but that’s still an impressive number compared to the more-mature Maryland industry. Horseshoe Cleveland is, no surprise, the biggest contributor, grossing $21 million, followed by Hollywood Toledo ($16 million) and Scioto Downs ($13 million). J.P. Morgan analysts must not read the Columbus papers, as they put opening day attendance at Hollywood Casino Columbus at 25,000 souls — double what was reported on the scene. We won’t have a full month of Columbus revenues until November’s numbers come out but the ramp-up of Ohio’s fledgling casino industry — scarcely five months old — is impressive.

Maryland: Not having table games — pending the outcome of a November ballot — question and laboring under a take rate double Ohio’s 33%, Maryland casinos are doubly handicapped. Table-game revenues might put Maryland on par with Ohio but we’re also seeing the relative ineffectiveness of trying to expand gambling on the doorstep of Pennsylvania, Delaware and West Virginia … long-established markets every one. Basically, there’s Cordish Gaming‘s Maryland Live (above, $32 million — or an impressive $248/slot/day) and then Continue reading

Posted in Ameristar, Atlantic City, Boyd Gaming, Cordish Co., Current, Dan Gilbert, Don Barden, Economy, Election, Harrah's, Illinois, Indiana, Isle of Capri, Kansas, Maryland, Massachusetts, Missouri, MTR Gaming, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Taxes, Tribal, Tropicana Entertainment, Wall Street, West Virginia | 2 Comments

Hail, Bill’s!; Trump slump; Back in the fold

In a typically ludicrous Gary Loveman brainstorm, Bill’s Gamblin’ Hall & Saloon is to become — wait for it — Caesars Drai’s. (Yeah, ‘WTF?’ and all that.) Although you’d have to be either masochistic or insane to loan money to Caesars Entertainment at this point, the company has the nerve to ask for $180 million to fund this bizarre retrofit. Have the structural implications (and cost) of putting tons of water and a nightclub atop a 200-room casino-hotel been seriously contemplated? If they don’t require strapping a giant cement-and-steel truss onto the exterior of Barbary Bill’s, er, Caesars Drai’s, I’ll be pleasantly surprised, although Bill’s existing parking-garage infrastructure takes much of the lunacy off the concept.

As for the rebranding … what can one say? After deeming Caesars imprimatur to be of too great value to waste on podunk towns like Cleveland, Cincinnati, Philadelphia and Baltimore, they’re busting it out for … this? Why don’t just you slap the Caesars logo on Continue reading

Posted in Alex Yemenidjian, Architecture, Current, Detroit, Donald Trump, Florida, Harrah's, Illinois, International, Marketing, Maryland, Massachusetts, MGM Mirage, Ohio, Pennsylvania, Station Casinos, Steve Wynn, The Strip, Tilman Fertitta, Tourism, Wall Street | Comments Off on Hail, Bill’s!; Trump slump; Back in the fold

Black man frightens Steve Wynn, Part Two; MGM: Time to forget Harmon?

As Yahoo‘s Jeff Macke cuttingly puts it, he “found a real, live businessman who creates jobs,” thereby providing a Steve Wynn-to-sanity translation, courtesy of CIO AdvisorsHugh Johnson. If Wynn were truly being honest, he’d cut to the quick: He’s scared witless that his high-income customers who play at Wynn Las Vegas and Encore, and the trust-fund babies who fill his night spots and Encore Beach Club (right), will have less discretionary dough to fling upon the green felt or into $500 bottle service. That’s a perfectly understandable concern but, self-righteousness being its own reward, Wynn can’t bring himself to tell the truth. “I’m watching my employees’ living standard go through the floor,” crocodile-weeps the man who confiscated Wynn LV dealers’ tips in order that pit bosses could live larger.

Both executives are more than slightly disingenuous by conveniently failing to mention the “fiscal cliff,” upon which our rudderless, impotent Congress has perched the American economy. We will either be pushed over that cliff — and into a double-dip recession — or have it extended into Sometime Next Year (Maybe) during the lame-duck session, a situation in which neither an outgoing or an incoming president is going to have leverage. Either Wynn and Johnson naively subscribe to the Great Man Theory of history (or to what our German friends call Continue reading

Posted in Architecture, Cantor Gaming, CityCenter, Colony Capital, Columbia Sussex, Cosmopolitan, Cretins, Current, Donald Trump, Economy, Election, Fontainebleau, Goldman Sachs, Hard Rock Hotel, Harrah's, history, International, Louisiana, Macau, Massachusetts, MGM Mirage, Morgans Hotel Group, North Las Vegas, Politics, Sports, Station Casinos, Steve Wynn, Technology, TV, Wall Street | 2 Comments

Black man frightens Steve Wynn, Part One

Update: Today, Wynn got into the act in the ongoing Big Bird charade. As Steve Sebelius points out, it’s meaningless posturing, nothing more.

Life’s been good to Steve Wynn. How good? Well, if you or I talked like a crazy conspiracy theorist broadcasting via ham radio from our Pahrump bomb shelter, people would avoid us in the street. But whenever Wynn throws a temper tantrum, Jon Ralston posts a blog entry about it, or better yet, earmarks an hour of TV time for Wynn’s hyperbolic rhetoric, of which a foretaste follows

Come off it, Steve! You haven’t created a job in America since 2008, when you opened Encore. (OK, maybe a handful of cabaña boys at your new high-end pool, but that’s about it.) Sure, you feinted at Philadelphia and Atlantic City, played footsie with Massachusetts, but always cut and ran when the going got tough. When it comes to stateside investment, you may talk like a street tough but you throw like a girl (and that’s a libel on girls; my apologies, ladies). And if you’re going to resurrect the bedtime story that El-Ad Properties was going to hire you to build an arena and resort, and you didn’t do it because you’re “frightened” of the Evil Black Man in the White House* (a favored Wynn trope, freshly tinted with Continue reading

Posted in Atlantic City, Cantor Gaming, CityCenter, Colony Capital, Columbia Sussex, Cosmopolitan, Cretins, Current, Donald Trump, Economy, Election, Entertainment, Fontainebleau, Goldman Sachs, Harrah's, Macau, Massachusetts, MGM Mirage, Morgans Hotel Group, North Las Vegas, Pennsylvania, Plaza, Politics, Regulation, Sports, Station Casinos, The Strip, TV | 27 Comments

Quote of the Day

“The modern DJ is like a secular priest. People are looking for him to send them a message. A lot of people don’t have anything positive going on in their life, so when they come out, they are literally saved by the music, that’s what it did for me.” — disc jockey and Cee-Lo Green idol Romeo Cologne. If he’s right, Las Vegas is the tent-revival capital of the world.

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And Columbus makes three …

Fittingly, Penn National Gaming chose Columbus Day to open its newest casino, in the Ohio city that bears the name of the man who didn’t quite discover America in 1492. With 3,000 slots and 100 tables, it’s loaded for bear. This will be the first instance of head-to-head competition between a full-fledged Buckeye State casino and a racino, what with Scioto Downs being just a titch down the road. MTR Gaming, which saw its other properties take a thumping from Horseshoe Cleveland Casino, particularly in table win.

According to Dr. David G. Schwartz, Scioto Downs’ VLT revenues were already toward the low end of what’s considered acceptable, so MTR’s got good cause to worry … although its winnings were the only ones of the state’s casinos to march steadily upward across the summer months, while Horseshoe Cleveland and Hollywood Casino Toledo experienced sequential declines. Against that must be set robust $246/machine/day slot winnings in Toledo and an outstanding $267/slot/day take in Cleveland.

Deutsche Bank analyst Carlo Santarelli gives the palm for loosest slots to Hollywood Toledo, by a full two percentage points. Horseshoe grossed $21 million last month, against Toledo’s nearly $13 million. Just think: Caesars Entertainment effectively traded $20 million/month of wholly owned revenue in St. Louis for one-fifth of a comparable revenue stream in Cleveland. Business acumen, thy name is not Gary Loveman.

You could say Penn vs. MTR is a preliminary bout for 2014, when Pinnacle Entertainment‘s River Downs weighs in against Rock Gaming Caesars‘ in-progress Horseshoe Casino Cincinnati (left). Ditto a pair of dueling racinos (one owned by Penn) in the Dayton area. Then there’s next year’s peculiar slugging match, when Dan Gilbert and subordinate Loveman open a racino at Thistledown, in direct competition with Horseshoe Cleveland, in typical Caesars form. As for Penn, its Ohio expansion has cost 160 Indiana workers their jobs at affected Continue reading

Posted in Architecture, Current, Dan Gilbert, Dining, Economy, Harrah's, Indiana, M Resort, Missouri, MTR Gaming, Ohio, Penn National, Racinos, Station Casinos, Taxes, Technology, The Strip, TV, Wall Street | 3 Comments

From the mailbag; Now for a word from our sponsor …

Update: Full sets of links are now available for the DIY version of my USA Today ‘best of Downtown’ and best of the Las Vegas Strip guides, below. Thank you for your patience.

A reader in Arizona has run the numbers on Caesars Entertainment‘s proposed $180 million makeover of Bill’s Gamblin’ Hall & Saloon and finds the cost rather alarming. Dividing it by Bill’s 200 hotel rooms, it breaks down to $900,000 per room. In other words, it’s comparable to spending $4.5 billion on a new, 5,000-room megaresort, “especially if they are aiming at the [Cosmopolitan] douche-baggery gang that really doesn’t gamble that much.” (For perspective’s sake, Onex Corp. spent less than $150 million on an extensive re-do of the considerably larger Tropicana Las Vegas.) Our correspondent adds, “I wonder if they are going to spend some of that money moving the bathrooms away from the outer walls so that you can have a window across the entire room (instead of only half of it like now). But only the building’s front half or so of the rooms really have a good view; the back half mainly has boring views of Bally’s and the Flamingo.” In other words, probably not.

Besides, rerouting 200 rooms’ worth of Continue reading

Posted in Alex Yemenidjian, Architecture, Cosmopolitan, Harrah's, Technology, The Strip, Tourism | Comments Off on From the mailbag; Now for a word from our sponsor …

USA Today’s best of the Strip

Pursuant to our last S&G dispatch, here are the USA Today choices for top attractions on the Strip (uniqueness and affordability being prime considerations). If you’re not staying at a Hilton property right now, you aren’t vouchsafed access to the actual guide, but here’s a potted version …

Dining: Gordon Ramsay Steak [Paris-Las Vegas]; rm seafood [Mandalay Bay]; Nove Italiano [Palms]; The Peppermill; L’Atelier du Joel Robuchon [MGM Grand]; Wicked Spoon Buffet [The Cosmopolitan].

Nightlife: Rhumbar [The Mirage, above]; The Barrymore [Royal House]; Public House [Venetian]; Marquee [Cosmo]; Encore Beach Club [Wynncore]; Casa Fuente.

Working out: Red Rock Canyon; Red Rock Canyon Scooter Car Tour; Dolphin Yoga [Mirage]; Guns and Ammo Garage; Nike Golf Store [MBay]; Dale Chihuly store [Bellagio]; Bonanza Gifts.

Hot Neighborhood: It’s just around the corner from LVA HQ … Continue reading

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USA Today: The winners (Downtown edition)

Since S&G readers can’t view my big Las Vegas guides (unless you’re sitting at a computer in a Hilton-branded property at this very moment), I thought I’d share with you who made the cut. And the Downtown elect are …

Restaurants: El Sombrero; The Golden Steer; Lola’s; Pamplemousse; Forte; China MaMa.

Nightlife: The Lady Silvia; Freakin’ Frog (my favorite); Vue Bar [The D]; Artifice; Herbs & Rye.

Working out: Valley of Fire State Park; Aquae Sulis Spa Fitness & Recreation Center [Rampart Casino]; The Spa [Golden Nugget].

Shopping: Patty’s Closet Fashion Boutique; Gambler’s Book Club; Zombie Apocalypse Store.

Hot Neighborhood: it could only be Continue reading

Posted in Dining, Downtown, Entertainment, George Maloof, Michael Gaughan, Riviera, Station Casinos, Tilman Fertitta, Tourism | 2 Comments

Illinois: Cause for optimism?

Late last month, Bally Technologies landed a massive order of 4,000+ video poker terminals — VGTs in industry parlance — in Illinois. Y’all remember slot routes in the Land of Lincoln? They’ve taken so long to be put into place its legalization feels like an epoch ago. On top of those 4K worth of machines (half leased, half sold outright), Bally did such a good sales job for its MultiConnect management software, that 75% of the VGTs will be hooked into that. Two of the largest video poker outlets in Illinois will have a game inventory that is over 50% Bally-originated.

That’s quite a coup for BYI but casino operators in the state might be forgiven for not throwing a party. It’s just one more obstacle the state has thrown in their path, in what seems like a perverse attempt to Continue reading

Posted in Bally Technologies, Boyd Gaming, Current, Harrah's, Illinois, Missouri, Neil Bluhm, Penn National, Politics, Slot routes | Comments Off on Illinois: Cause for optimism?

Freudian slip and fall; Loveman’s shabby show

One week after he became S&G‘s Casino Owner of the Year for his “george” treatment of Green Bay Packer fans, Derek Stevens stepped on a PR banana peel. His Golden Gate and The D casinos are holding monthly drawings whose winner will receive a General Motors vehicle — make and model to be determined later. Unfortunately, the event is billed as a “Joint ‘Keep America Rolling'” promotion. That phraseology should bring the cannabis users out in force, although I don’t think we want them behind the wheel while rolling their own, let alone filling their lungs with loco weed.

Then there was Caesars Entertainment, which stepped on its own foot this week with a bungled announcement of its first 11 tenants at The Linq. A big media event was set for Pure Nightclub, last Monday evening. Ink-stained wretches (or would that be ‘Linq-stained’?) would be able to mingle with and even query the likes of Continue reading

Posted in Boyd Gaming, Current, Derek Stevens, Downtown, Harrah's, International, Internet gambling, Macau, Marketing, Maryland, Massachusetts, Missouri, Ohio, Sports, The Strip, Wall Street | 6 Comments

Bacchanalia at Caesars; I’ll take the Mubarak Suite, please

Despite rampant neglect elsewhere on the Strip, Caesars Entertainment continues to take good care of its namesake, Caesars Palace. A Wednesday-night visit disclosed that myriad schlock retailers had been banished, as Jay Sarno‘s toga party tries to keep pace with other upscale properties nearby. Our destination was the Bacchanal Buffet, a $17 million investment that was drawing a long — but not dauntingly so — line for midweek dinner. Whether $35 a plate for an evening meal is a good value is for you to decide, although it’s hard to find a Strip restaurant that won’t set you back much, much more. As a Caesars-branded amenity, I would accord it high marks, although I wouldn’t put it at the top of the heap. Also, given the disgruntlement I saw amongst some AARP-vintage customers, I suspect the offerings may be somewhat chi-chi for the Total Rewards crowd. Bacchanal could stand to lose the whunka-whunka “house” music, geared to a nightclub demographic that was nowhere to be seen. It sounded like I was dining in a gay disco. Better lay down some Continue reading

Posted in Architecture, CityCenter, Cosmopolitan, Current, Dining, Entertainment, Goldman Sachs, Harrah's, history, International, Marketing, MGM Mirage, Sahara, Technology, The Mob, The Strip, Tourism, TV | 4 Comments

Gomes alone; Mohegan Sun pink-slip-slidin’ away

Former Resorts Atlantic City underboss Aaron Gomes might want to change his travel plans. Scarcely had he announced his departure from his late father’s casino than his new gig, Sydney‘s troubled Star Casino, looks very doubtful. Gomes had planned to join former Borgata prexy Larry Mullin, But now Mullin is on the way out, effective Jan. 31. His exit seems to be as amicable as such things can — but getting one’s walking papers after only eight months on the job is hardly a signal that everything’s coming up roses at Star. Since the Echo Entertainment board has declared its intention to scour the globe for a new CEO, must feel like something of a red-headed stepchild at the moment. Then again, who would want the job at this juncture? James Packer (right), who owns 10% of Echo, will soon get permission to enlarge his position, presaging a takeover.

It’s too late for Gomes to beat a retreat to Atlantic City. Wasting no further time, operator and minority owner Mohegan Sun installed one of its own, Gary Van Hettinga (left), as CEO of the casino-hotel. So, if the Mohegans and majority owner Morris Bailey reach an impasse, whose bidding will Van Hettinga do, especially when he’s also still wearing the hat of Mohegan Gaming Advisors‘ president? The elder Gomes’ “dream team” is out, replaced largely by some of the last vestiges of the horrific Columbia Sussex era at the Tropicana Atlantic City. They include hatchet man Mark Giannantonio, who left labor strife in his wake, and former Trop marketing boss Mary Tindall, a 26-year veteran at the property. Tindall has the virtue of Continue reading

Posted in Atlantic City, Australia, Boyd Gaming, Carl Icahn, Columbia Sussex, Current, Dennis Gomes, Economy, Genting, Marketing, Massachusetts, New York, Racinos, Regulation, Tourism, Tribal, Tropicana Entertainment | Comments Off on Gomes alone; Mohegan Sun pink-slip-slidin’ away

Quote of the Day

“There are a couple of douchey-looking guys over there. That’s probably the VIP line.” — me, to my wife, last night at Caesars Palace‘s new, $17 million Bacchanal Buffet. And guess what? I was right! When in doubt, follow les sacs de douche.

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Our brief national nightmare is over

Within 48 hours of the traveshamockery in Seattle, the NFL‘s imperious bid to break the referees’ union has collapsed. The league has agreed to terms that amount to total capitulation. Zebras 1, NFL -1 (counting collateral damage inflicted upon fans). Let the point spreads return to their normal breadth and, among the sports books of Las Vegas, may peace and comity reign at the betting window! Yes, it is “a great day for America” indeed.

Posted in Current, Sports, TV | 1 Comment

Would you buy a used Monorail from these guys?

Let the record show that the American Gaming Association‘s daily SmartBrief is an invaluable one-stop shop for casino-related news stories, especially now that several of the leading Las Vegas-centric blogs have taken a dirt nap. However, if you can’t find one good laugh per SmartBrief, you’re just not trying. Monday offered this chuckle, courtesy of those inveterate cutups, Caesars Entertainment: “Project Linq will become a destination, exec says.” Hilarious! Tell me another one, Uncle Gary!

Today, we got: “Officials unveil plans to improve Las Vegas Monorail.” If that doesn’t make you collapse in hysterics right there, let me add that the “improvement” involves neither dynamite nor affordable fares. It’s — get this — more Monorail. The line’s braintrust (now there’s an oxymoron!) is dusting off pre-Recession plans that would have extended the Monorail north past Signature, then east to the UNLV campus, ending with a southward thrust into McCarran International Airport. I believe I wrote the first news coverage of this, on a long-vanished Las Vegas Business Press blog. (Hell, just about everything at the Bidness Press is long-vanished, especially credibility, thanks to Continue reading

Posted in Alex Yemenidjian, Current, Economy, Harrah's, MGM Mirage, Sheldon Adelson, Taxes, The Strip, Tourism, Transportation | 5 Comments

Doing the right thing, with a “D”

As in The D and its owner Derek Stevens, who is refunding bets made on the Green Bay Packers last Monday, when victory was literally stripped from their hands by nincompoop NFL scab referees. They’ve been likened to Foot Locker salesmen but I honestly think Foot Locker floor people could do a better job. As though his rescue of the former Fitzgeralds and reinvention of the Golden Gate weren’t enough, this alone makes Stevens the prohibitive favorite for casino owner of the year. He was “disgusted” by this week’s pigskin fiasco and, seeing things from a bettor’s point of view, rescinded the wagers. In doing so, he not only overrode the NFL but D sports book operator William Hill. Bravo! This man has brass balls.

Predictably, Stevens’ maverick move brought a howl of outrage from Continue reading

Posted in Current, Derek Stevens, Downtown, history, Sports, The Strip, Wall Street | 2 Comments