New Blue Eyes

Posted on August 3, 2011 by David McKee

Las Vegas is rife with Frank Sinatra impersonators but construction worker Gary Russo is better than any I’ve heard. Sandy Hackett, sign this guy up, stat!

Posted in Current, Entertainment, Riviera | 3 Comments

Somebody sent us these …

Posted on August 3, 2011 by David McKee

It is difficult to say what looks phoniest about that picture: the cryingly obvious studio background of Venelazzo; the frozen grins on the faces of the agonized-looking models; or maybe it’s the fact that you could go into any Vegas night spot you like and see not one person dressed remotely as well as the people in this shot. Frankly, our reputation as “a place people go to dress badly” is well-earned several times over. I wouldn’t mow the lawn in what some people consider proper gambling and Vegas-evening attire. (Seen recently: casino patron at Caesars Palace in flip-flops, bathing trunks, reversed ball cap and nothing else.) Anyway, the nice people at Rhumbar in The Mirage want you to know that they’re having a weekend-only happy hour — or “day parties,” as we pretentiously call them here — noon to five, with $5 booze. That’s a big step in the right direction, here in the Land of the Eight-Dollar Beer. I’ll drink to that.

Vegas’s fashion sense may suck donkey balls but, hey, give us our due: We’ve surely got more nice Continue reading →

Posted in Boyd Gaming, California, Cretins, Current, Dining, Downtown, Entertainment, Harrah's, history, International, MGM Mirage, New York, Oscar Goodman, Sheldon Adelson, Tamares Group, The Strip, Tourism | 2 Comments

And now for a dose of perspective …

Posted on August 3, 2011 by David McKee

Here’s a sobering reminder that while much of off-Strip (i.e., non-tourist) Las Vegas may look like a Third World country right now, the problems we face are as nothing compared to those in the actual Third World.

Posted in Current, International | Comments Off on And now for a dose of perspective …

Vegas’ recovery? D.O.A.

Posted on August 2, 2011 by David McKee

In the wake of last weekend’s Grand Capitulation on the banks of Foggy Bottom (I’ll let you decide who capitulated to whom), the incipient Las Vegas recovery that was materializing in late 2011 is probably as good as dead. Even before Congress and the administration decided to do a rerun of 1937, consumer confidence was beginning to ebb. And if consumer spending continues to slump, the inevitable reaction in Washington, D.C., will be to impose still further austerity measures, reinforcing the downward spiral. An industry that used to look askance at conventioneers and corporate meetings (seen as poor sources of gaming revenue) will be clinging to them as a drowning man would a lifeline. They’re now our last bastion of refuge.

For those who oppose federal budget deficits per se, I will simply Continue reading →

Posted in Current, Donald Trump, Economy, history, International, Macau, Sheldon Adelson, Steve Wynn, Taxes, The Strip, Tourism, Wall Street | 8 Comments

Quote of the Day

Posted on August 1, 2011 by David McKee

“Hey, everyone, I’ve decided that I’m not going to come to your house tonight and burn it down! Isn’t that ‘reasonable’ of me?” — Jason Linkins on the spin-doctoring of last weekend’s deficit deal.

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Twin births

Posted on July 29, 2011 by David McKee

There’s a new dolphin — as yet unnamed — at The Mirage. It’ll probably be a while before the little pup goes on public display. In the meantime, S&G congratulates The Mirage, and hopes mother and child are resting comfortably.

Meanwhile Downtown, after much anticipation, long delay and many leaks, it has been officially disclosed that the Plaza Hotel & Casino will be hosting Insurgo Theater Movement (left) in its third-floor performance space, which is being adapted to host serious (and not-so-serious) “theatuh.” Insurgo will debut at the Plaza on Sept. 1 with Waiting for Godot, which pretty much describes the local economy, when you think of it. (Imagine Jim Murren and Gary Loveman as the two tramps, with Sheldon Adelson as Pozzo and Steve Wynn in the Continue reading →

Posted in Animals, Current, Downtown, Entertainment, Harrah's, MGM Mirage, Sheldon Adelson, Steve Wynn, Tamares Group, The Strip, Tourism | 1 Comment

Gorging at the trough

Posted on July 29, 2011 by David McKee

How do you turn a $100 million savings into a $92 million one? Leave it to Caesars Entertainment CEO Gary Loveman, that’s how. If you’ve noticed that the food quality at The Rio‘s Carnival World Buffet has declined (the “New York Steak” at our last visit was downright rancid) or that the balloon marquee in front of Paris-Las Vegas is almost completely denuded of paint, take comfort in the thought that high-ranking Caesars execs are being richly remunerated for the continued degradation of the company’s assets. That’s to say nothing of strong-arming the workforce by rescinding cash awards for good performance or trying to confiscate dealers’ tips. (Regarding the former, Caesars’ tribunes were miffed that the plebians were spending their extra lucre “on gas and groceries.” The effrontery of the rabble!)

Caesars may be almost $19 billion in debt and lost “only” $147 million in 1Q11, but that didn’t stop Loveman from showering almost $8 million on court favorites like CFO Jonathan Halkyard (right). Nor did Loveman neglect himself, shoving $1 million into his own pocket. That’s considerably more than was received by Halkyard and two divisional presidents combined. Of course, that is the sort of leading-by-example we’ve come to expect from a CEO who wants the public (and rival casinos) to pony up so he can have a vanity arena out back of Imperial Palace. Is it that far-fetched to suggest that Loveman has a boner for a Flamingo Road sports stadium because he’d be able to attend a couple of Continue reading →

Posted in CityCenter, Current, Dining, Economy, Entertainment, Harrah's, MGM Mirage, Sports, The Strip, Tourism, Wall Street | 2 Comments

No respect for CityCenter

Posted on July 28, 2011 by David McKee

CityCenter‘s public art collection (now with 100% fewer explanatory plaques!) and its “pocket park” get the spoof treatment from artist Justin Favela, as shown in this DIY video report by the Wall Street Journal‘s Alexandra Berzon, who dryly narrates.

Posted in CityCenter, Current, Downtown, Entertainment, MGM Mirage, The Strip, Tourism | 2 Comments

For sale: One casino, slightly used; Golden showers in LV

Posted on July 26, 2011 by David McKee

Pity MGM Resorts International. It owns half of the top-grossing casino in Atlantic City and can’t give it away. Yup, as many feared, investor Leonard Green has slinked off into the tall grass, leaving MGM with 50% of Borgata it can’t unload — perhaps not until 2014. Now that Green has half off the Palms, evidently the sheen if off of his New Jersey impulse buy. The screaming sound you hear is the asking price for MGM’s Borgata share falling to the ground. Boyd Gaming has made it pretty clear that it’s neither interesting in selling Borgata nor buying out MGM’s stake, so the lion’s going to need to take a big writedown. Have they tried listing it on eBay?

Pee party. Of course, back here in Vegas the buzz of the moment concerns the preponderance of piss in “daylife” pools. And the pissiest piscine belongs to … Tao Beach, with runner-up status awarded to Wet Republic (left). Congratulations, Las Vegas Sands! Thumbs-up, also, to Liquid at Aria, which managed to make the Top Five in its first year of operation. We now know for certain of at least one category in which that hotel behemoth isn’t underachieving. The Tao peeps say they’re on the case and we can swim with a clean conscience (or something). Test-lab descriptions of pool-party water [sic] range from untreated river H2O to “treated sewage effluent.”

Why does none of this surprise me? Given the behavior, Continue reading →

Posted in Atlantic City, Boyd Gaming, CityCenter, Cordish Co., Current, Entertainment, Environment, Maryland, MGM Mirage, Ohio, Penn National, Sheldon Adelson, Taxes, The Strip, Tourism, Wall Street, Warner Gaming | 2 Comments

Whine and cheese

Posted on July 25, 2011 by David McKee

Steve Wynn‘s desperate cry for attention got him back onto cable news … if perhaps not with the degree of sympathy for which he hoped. I saw this segment yesterday while on the treadmill and thought I’d pass it along for your delectation. Also this … Continue reading →

Posted in Economy, Steve Wynn, Taxes, TV, Wall Street | 1 Comment

Wanna get away from it all? Try Rampart!

Posted on July 22, 2011 by David McKee

Just how dead is Rampart Casino, formerly known as — among other things — The Resort at Summerlin, the big-budget folly that finished Swiss Casinos‘ attempt to become a major Vegas player? Well, when Chicago commodities broker-turned-fugitive Arthur Jones wanted to avoid being found, he took a job as a sports book writer at Rampart Casino. Guess he figured it was the last place anybody would look for another human being. On the run from the law (and possibly the Mob, too), Jones faked his own death in 1979 and began a new life in Sin City as “Joseph Sandelli.”

In addition to whatever problems Jones faces with Uncle Sam, he’s now on the hook for a quartet of Nevada felonies. If convicted, the 72-year-old changeling might never see the inside of a casino again. Now that “Sandelli” has posted 20 dimes’ bail, my hunch is authorities won’t see his ass for dust. So if you’re in a tribal casino somewhere, keep an eye peeled for the man to the right — especially if he asks for your Social Security number.

Of course, if Jones/Sandelli really didn’t want to be seen, he should have gotten a job at Crystals.

Calling all artists: Your talents are wanted at Continue reading →

Posted in Cannery Casino Resorts, CityCenter, Current, Illinois, MGM Mirage, The Mob, The Strip | 1 Comment

Bingo returns to the Strip

Posted on July 22, 2011 by David McKee

Although it was my (much younger) wife who got me into playing bingo, let’s face it: Bingo is the archetypal — some would say stereotypical — game of the AARP set. In its latest move to attract a value-oriented, nostalgic clientele, the Riviera is bringing the game back to the Strip. The official announcement doesn’t make it clear whether there’s a dauber-and-paper complement to the Riv’s new battery of e-bingo devices. That’d take some of the fun out of the game, whose presence may also help get locals back on-property. At any rate, the choice of venue is apt, since the Riv used to hold an annual bingo trade show … and still does, for all I know.

Your move, Tropicana.

Posted in Alex Yemenidjian, Current, Entertainment, Marketing, Riviera, The Strip | Comments Off on Bingo returns to the Strip

Quote of the Day

Posted on July 22, 2011 by David McKee

“Steve Wynn‘s hatred of the president is just an old man getting back at his ex-wife.” — former (?) Progressive Leadership Alliance of Nevada Communications Director Launce Rake.

Posted in Current, Economy, Steve Wynn, The Strip | 1 Comment

Lost: Steve Wynn’s marbles

Posted on July 21, 2011 by David McKee

Oh Christ, Steve Wynn, grow up already. Busy Wall Street analysts were held hostage to a 433-word talk-radio tirade while they were probably itching to write up quarterly earnings reports. When other CEOs might have been bragging on an “amazing second quarter,” beating the Street’s cash flow estimates by $72 million and achieving a 32% profit margin, Wynn threw a hissy fit that would shame most toddlers. Confronted with an innocent Bill Lerner question about condos on the Cotai Strip™, Wynn — to borrow an old line from Nevada historian Michael Green — started “sounding like a guy broadcasting from his bedroom on public access on the far end of the AM dial in Buttflap, Alabama.” Regardless of whether the “weird business philosophy” of the White House is the “pure socialism” of Wynn’s Red Scare rhetoric, one can’t help but notice that he speaks truth to power … only when he needn’t fear any repercussions.

Take China, to whose leadership Wynn has shamelessly toadied in the past and to whom he continues to grovel. He blew sunshine up Peking‘s ass yesterday, saying $2.5 billion Wynn Cotai “should help broaden the appeal of Macao to make it a destination resort,” even as the land-grant process creeps along at its usual sub-snail velocity.

Don’t tell me it doesn’t chap Wynn’s ass in private that Continue reading →

Posted in Alabama, Boyd Gaming, California, Carl Icahn, CityCenter, Economy, Florida, Fontainebleau, Harrah's, James Packer, Lawrence Ho, Macau, Massachusetts, Melco Crown Entertainment, MGM Mirage, Politics, Regulation, Sheldon Adelson, Steve Wynn, Taxes, Texas, The Strip, Tourism | 5 Comments

Blast from the (recent) past

Posted on July 20, 2011 by David McKee

Lookee here what I found while rummaging through the body count of Carolyn Goodman‘s nascent political career: It’s everybody’s favorite ‘WTF?’ mayoral candidate Victor Chaltiel and family. The Sheldon Adelson protegé’s concern for the city of Las Vegas always seemed about as real as this Photoshopped-into-the-desert studio pose … and as heartwarming as his mirthless rictus. Perhaps if Chaltiel decides to fail further upward — into Congress, say — he can always swap those mountains out for something more representative of his constituency … the Las Vegas Sands executive suite, perhaps.

Posted in Downtown, Election, Marketing, Sheldon Adelson | Comments Off on Blast from the (recent) past

Quote of the Day

Posted on July 20, 2011 by David McKee

“The hotel industry in Nevada, when it was the Lone Ranger, which it no longer is, it’s all over the world—it was selling, ‘Come here for excitement, for great entertainment, for great food, for great shopping.’ Anything to sell tourism—that was our industry. My husband and I have always talked about diversifying the economy. We need to establish an identity.” — Las Vegas Mayor Carolyn Goodman, on the challenges facing Sin City. Today is Carolyn Goodman Day, in that researching a potted LVA.com biography of Her Honor is my principal occupation for the time being.

Posted in Downtown, Economy, Election, Oscar Goodman, Tourism | Comments Off on Quote of the Day

Dog Days, explained

Posted on July 19, 2011 by David McKee

Visit msnbc.com for breaking news, world news, and news about the economy

As reported yesterday, July-September room rates for the Las Vegas Strip are looking soft (which is bound to degrade off-Strip ADRs, obviously). One possible explanation was, indirectly, floated on this morning’s Today show. If discretionary dollars are flowing to companies, not consumers, business travelers on expense accounts will be able to sustain those rising midweek rates that we’ve been seeing.

But if Joe Average customers aren’t seeing any largesse, that bodes ill for the oft-predicted recovery that’s supposed to Continue reading →

Posted in Boyd Gaming, Cosmopolitan, Economy, The Strip | Comments Off on Dog Days, explained

Quote of the Day

Posted on July 19, 2011 by David McKee

“I think we’re going to have a very difficult ’08 in our business.” — the late J. Terrence Lanni, foreseeing in late 2007 that to which other CEOs in his industry — most notoriously Gary Loveman and Frank Fertitta III — were blind (or willfully oblivious). Lanni ruffled feathers two years earlier by predicting that 80% of the condominiums planned for Las Vegas would not get built … a prophecy that turned out to err on the side of conservatism.

Posted in Economy, Harrah's, history, MGM Mirage, Station Casinos | Comments Off on Quote of the Day

Dog Days

Posted on July 18, 2011 by David McKee

Heading into August, hotel rates along the Strip appear to be in the doldrums, judging by figures published today by J.P. Morgan analysts. Weekday rates continue to recover, typified by Caesars Entertainment properties, and weekend ones continue to decline. So far in the third quarter, weekdays are 7% better than last year (or worse, if you’re a consumer) and weekends are 6% more adverse. This reverses the momentum of 2Q11, which saw some (as in 3%) improvement midweek but much better numbers on the all-important weekends, up 11%. Morgan’s Joseph Greff offers no theories for this softening of demand, alas.

Wynncore is enjoying the midweek bounce the most (+14%), while MGM Resorts International feels the weekend pain the hardest, room rates down 12% from last year. The best overall performance, however, is turned in by Caesars, the only company in Morgan’s coverage universe to poster higher weekend rates than 2010 (+6%), in addition to a 9% bounce in midweek rates. The eschewal of resort fees is obviously playing a significant role here. But Caesars’ strong presence in the bargain and middle-class tiers, and Total Rewards also having to be factored into the matrix driving the company’s Strip outperformance.

What’s going on over at the still-fresh Cosmopolitan of Las Vegas? Its rates are 17% higher than Aria midweek and 37% Continue reading →

Posted in CityCenter, Cosmopolitan, Current, Economy, Encore, Environment, Harrah's, MGM Mirage, Movies, Steve Wynn, The Strip, Tourism, Wall Street | 2 Comments

Harry Truman, come back!

Posted on July 18, 2011 by David McKee

According to this graph, which I have shamelessly borrowed from Paul Krugman (who obtained his data from the Federal Reserve), the best years for income growth were those immediately following World War II. Those were the days that brought us the Middle Class and what used to be known as the American Dream. How we are supposed to sustain a consumption-based economy (read: multi-billion-dollar casinos) on dwindling income growth is a question for far wiser heads than mine.

Posted in Economy, history | 1 Comment