From the bookbag

Having made less than the most of my college years, I’ve been sporadically trying to compensate ever since. (Although the extent of any Remedial Philosophy consists of my current reading matter, the anthology ‘Family Guy’ and Philosophy: A Cure for the Petarded.) A recent clearance sale at a local Borders enabled me to make a smash-and-grab raid of titles like …

Frommer’s Philadelphia Day by Day

Raiders & Rebels: A History of the Golden Age of Piracy by Frank Sherry

Nelson’s Trafalgar by Roy Adkins

The Wreck of the Medusa by Jonathan Miles

The Wars of the Roses by Alison Weir

Halsey’s Typhoon by Bob Drury & Tom Clavin

The Best and the Brightest by David Halberstam

A Better War: Continue reading

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Caesars steals Riv’s thunder; Trouble in Adelsonia

Obviously, the headline from today will be approval by the Nevada Gaming Commission of a partnership between Caesars Entertainment and Israeli-owned, Gibraltar-based 888 Holdings. Since it is simultaneously getting permission to shack up with Internet casino operator 888 and opposing ‘Net-betting locally, Caesars was able to dazzle Nevada regulators with the pretzel logic that what’s good for its business is bad for the Silver State.

Meanwhile, Hawaii legislators are seriously considering making the Aloha State a haven for online gambling sites. Throw in pending bills in Iowa, Florida and Nevada (with California looming in the wings) and you’ve got a tidal wave. The likes of Jim Murren and Gary Loveman are going to have about as much chance of imposing their will as King Canute did, lo, those many years ago.


Buried in the din
surrounding the Caesars/888 nuptials was the final approval of Barry Sternlicht‘s takeover of the Riviera. Property CEO Andy Choy said some promising-sounding things about bringing back laid-off staffers and marketing the Riv’s nostalgia value. However, the new general manager is Bobby Ray Harris. Oh no! Harris’ was Tamares Group‘s casino manager for several thoroughly undistinguished years that culminated in the closing of the Plaza. If he does for the Riv what he did for the Vegas Club, be afraid … be very afraid.

The Venetian’s Falcon. The Kasper Gutman and Joel Cairo of Las Vegas politics, Sheldon Adelson and sidekick Victor Chaltiel really must have it in for Mayor Oscar Goodman. Perhaps it’s because Chaltiel and fellow candidate Carolyn Goodman (Mrs. Oscar) ran rival private schools. Who knows? But Chaltiel’s campaign — whose polarizing rhetoric has a familiar Adelsonian ring to it — has taken to placing nasty mini-ads on Facebook accusing Hizzoner of leaving the city “bankrupt” and wasting taxpayer dollars in lieu of job creation. While hardly faultless, Oscar did persuade Zappos.com to relocate to Downtown, landed the Cleveland Clinic Lou Ruvo Center for Brain Health (above) shut down the reckless Endoscopy Center of Southern Nevada — while Adelson’s man, Continue reading

Posted in California, Downtown, Election, Florida, Harry Reid, Hawaii, International, Internet gambling, Iowa, Macau, Marketing, MGM Mirage, Midnight Jim Gibbons, Oscar Goodman, Politics, Regulation, Riviera, Sheldon Adelson, Sports, Tamares Group, Wall Street | Comments Off on Caesars steals Riv’s thunder; Trouble in Adelsonia

Terry the Casino Slayer

When Iowa Gov. Terry Branstad (R) was campaigning to reclaim his old office from Chet Culver (D), he argued against Culver’s casino-expansion plan, arguing that it was economically inadvisable. With the Iowa casino market not so much saturated as waterlogged, it was solid argument. But Candidate Branstad was a different animal than Chief Executive Branstad, who proposes to compound casinos’ difficulties with a 63% tax increase, raising the rate to 36%. Why? So he can grace other industries with a 50% tax cut. Yes, once again gaming is the whipping boy … or, if you prefer, the imaginary bottomless well to which politicians go every time their budgetary math comes up short.

While existing Iowa casinos weren’t exactly receptive to Culver’s desire for four new casinos (he got only one), that’s nothing compared to the alarm with which they view Branstad’s proposal. Iowa-based Strategic Economics Group vetted the plan and concluded it would result in casino closures (four), bankruptcies (tw0) and lost jobs (2,600-4,500) — to say nothing of sundry other economic ill-effects. “Notwithstanding the widely held perception that the industry is awash in cash, we found that four facilities currently show negative corporate equity. Another five had income on their books of less than $10 million – much of which may already be obligated in support of loans,” was quite literally the money quote.

… and they all live happily ever after. The governor pooh-poohs critics by comparing his mooted tax rate with those of Illinois and Indiana, but there’s some fuzzy math involved in the equation. Some of his argumentation is downright nonsensical. Example: Higher taxes won’t affect casinos because Continue reading

Posted in Ameristar, Atlantic City, Current, Economy, Election, Harrah's, Herbst Gaming, Illinois, Indiana, Internet gambling, Iowa, Isle of Capri, Penn National, Politics, Stanley Ho, Taxes, Tribal | Comments Off on Terry the Casino Slayer

Quote of the Day

“Vegas hotel mogul Steve Wynn is one of the most prominent art collectors in the country, and the possessor of one of the costliest elbows in history.” — ArtInfo.com roving reporter Julia Halperin, having a bit of fun in the course of a drive-by shooting of the Las Vegas artistic scene.

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From the mailbag

Today’s “Question of the Day” about the future of the Sahara Hotel & Casino‘s monorail stop (and, by extension, the future of the Las Vegas Monorail itself) provoked a long and thoughtful response from an S&G reader. (By the way, don’t forget to take our poll on the Sahara.) The fate of the bankrupt Monorail …

“… also points out an issue with any rail-based form of mass transportation — its enormous inflexibility, especially compared with bus-based options. As population centers and resort destinations change over time, rail-based transportation is unable to adapt to the change in demand for its services.

“Consider this: instead of some (extremely-expensive) pie-in-the-sky high-speed rail system linking a single-point terminus in the SoCal region (central Los Angeles, Anaheim, LAX, Victorville, ???) to a single-point terminus in the Vegas area (Downtown, South Strip, North Strip, McCarran, ???) that would be a decade or more in the future before actually operating at a construction cost of multi billions of dollars, the same number of daily passengers could be moved via high-end hybrid Continue reading
Posted in Alex Yemenidjian, Arizona, California, Cannery Casino Resorts, Current, Downtown, Pennsylvania, Racinos, Sahara, The Strip, Tourism, Transportation | Comments Off on From the mailbag

Gimme, Gimme, Gimme

… some money after midnight:

Evidently it’s not enough that gaming revenues and other casino-related retail taxes underwrite the State of Nevada. Lawmakers would extend a grubby mitt into the casino kitty and scoop up any unclaimed moolah. “[W]hy does the gaming establishment get to keep it,” harrumphed Assm. William Horne (D), throwing in a bit of demagoguery for good measure. (Big Bad Casino vs. John Q. Public) Only slot-ticket revenue would be affected but, rather than be content to tax the unclaimed vouchers, Horne and colleagues want to confiscate the lot. It’s vile and cowardly. Silver State lawmakers have run screaming from Continue reading

Posted in ABBA, Cretins, Current, Donald Trump, Economy, Election, Horseracing, Louisiana, Ohio, Penn National, Pinnacle Entertainment, Politics, Racinos, Texas, TV, Wall Street | Comments Off on Gimme, Gimme, Gimme

Packer packs it in; Lights out at Resorts A.C.

James Packer‘s had enough of the U.S. casino market. While not definitively ruling out a return to the American gaming industry, the minority owner of Cannery Casino Resorts makes it clear that he’s neither the stomach nor the lucre for pursuing further stateside ventures. At least, not in the foreseeable future. Ironically, had Packer waited until casino stocks and bonds were in the toilet, and debt was being sold at huge markdowns, he could have positioned himself to be a major player in this country. Instead, he blew chunks of the fortune father Kerry Packer left him on an incoherent investment strategy. It saw Crown Ltd. purchasing bits and pieces of Harrah’s Entertainment, Station Casinos and Cannery when all were at sky-high value.

A betting man would have put his money on an inevitable downturn and then waited. (Since Packer wanted to be in both Station and Cannery, why didn’t he make a clean sweep of the Las Vegas locals market and purchase some Boyd Gaming stock while he was at it?) A Pennsylvania racino here, a Crown-branded Vegas Strip “failsino” there, a couple of Continue reading

Posted in Atlantic City, Australia, Boulder Strip, Boyd Gaming, Cannery Casino Resorts, Colony Capital, Dennis Gomes, history, James Packer, Macau, Melco Crown Entertainment, North Las Vegas, Pennsylvania, Racinos, Station Casinos, The Strip, Tribal, Wall Street | 2 Comments

Quote of the Day

“For example, it has been alleged, and in one case confirmed by Righthaven’s counsel, that it brought at least two separate cases before this court against the wrong party. Using assembly-line litigation methods coupled with inadequate jurisdictional and factual due diligence and achieving profit-generating settlements from the disadvantaged appear to be its key motivation.” — more legal backlash against the zombie-like creature fathered by then-Las Vegas Review-Journal publisher Sherman Frederick and its vampiric business model.

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Adelson hits Florida speed bump

Gov. Rick Scott‘s big — and rather sudden — push to bring (more) private-sector casinos to Florida has run into a road block. The governor’s Tea Party base, of all people, is throwing up opposition … and not for the reason you might think. Its objections stem not from religious conservatism but the fiscal variety, contending that Scott is shooting dice with the state’s budget.

Specifically, South Florida Tea Party Chairman Everett Wilkinson (below) charges that Scott is a catspaw of Las Vegas Sands CEO Sheldon Adelson. (Well, that’s been pretty obvious.) More of a concern to him, however, is that legalization of full Vegas-style gambling would breach the state’s compact with the Seminole Tribe, resulting in an immediate cutoff of Seminole revenue-sharing arrangements with Florida. Wilkinson estimates the resultant shortfall at a minimum of $1.9 billion across a five-year period.

If he wanted, Wilkinson could raise a few other germane objections; for example, history has shown that Continue reading

Posted in Atlantic City, Current, Genting, Horseracing, Isle of Capri, Minnesota, Mississippi, New York, Pennsylvania, Politics, Racinos, Reno, Sheldon Adelson, Tourism, Tribal | 5 Comments

Mrs. God?

Oh man, is this gonna stir up a ruckus — and give Seth McFarlane inspiration for a thousand new Family Guy cutaways.

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Quote of the Day

“Paying there [sic] repsects [sic]” — onscreen graphic prefacing a 6 p.m. Saturday KSNV-TV news segment on a memorial service for victims of the fatal bus crash that killed 15 Mohegan Sun patrons. KSNV News Director Bob Stoldal really has his work cut out for him.

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More fun with geography; Langford & The Man; Caesars’ rough week

What’s in a mile? A lot more than you might think, especially if you’re a Maine legislator. Confronted with a pesky requirement that gambling venues in the Pine Tree State must have 100-mile exclusivity zones, some would redefine a “mile” as 1.25 miles. That is to say, they’d circumvent state law by creatively reinterpreting “mile” ex post facto to mean “road mile.” So henceforth and for the purposes of job creation a mile is a mile … except when it isn’t.

Now we’re sorta old fashioned at S&G and visualize a straight line when the law says “100 miles.” Imagine trying to draw a radius whose contours were defined in road miles. It’d be a pretty funny-looking critter, I warrant you. Casino proponents Black Bear Entertainment have been hoist on their own petard here, I’m afraid. They cited the 100-mile figure in their own referendum question and now it’s come back to haunt them. Although BBE won far and square at the ballot box, rewriting state law — to say nothing of the laws of geography — when you get caught out by your own legal verbiage doesn’t pass the smell test.

Even if “the Oxford Hills region desperately needs Continue reading

Posted in Atlantic City, Don Barden, Economy, Election, Harrah's, Horseracing, Illinois, Indiana, Macau, Maine, Neil Bluhm, Penn National, Pennsylvania, Politics, Racinos, Sheldon Adelson, Sports, Taxes, The Strip, Wall Street | 1 Comment

Just another night at Aria

This TV spot has been out a while but I didn’t chance upon it until I was home yesterday, nursing a Combo Meal of maladies. Isn’t it nice that that the oversexed young couple has 4,000-room Aria all to themselves? This is certainly taking “truth in advertising” to new levels of candor.

As for those who say that Aria offers only one (Viva Elvis™) show, surely you jest! Betcha those diners at Jean-Philippe Patisserie didn’t know they were getting a Suge Knight floor show along with their pastries.

How to buy your dragon. Do you remember those surplus Kirin dragons that Continue reading

Posted in Architecture, Cirque du Soleil, CityCenter, Current, Dining, Marketing, MGM Mirage, TV | 1 Comment

This just in … no, really

It only took four months but The Cosmopolitan of Las Vegas finally has video of its opening night (plus its New Year’s Eve bash) online. Today. As in, like, moments ago. So if you couldn’t make it, this is what it was like — minus poor Chuck Monster, nursing a scotch and waiting … waiting … waiting for his room to be ready. Dare I say that the Cosmo appears to be drawing a better class of celebrity than we have come to associate with such events?

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New dealer at Shufflemaster

After a long CEO search that threatened never to end, Shufflemaster has found its man. And it’s not just anybody rather, but Gavin Isaacs … most recently the president COO of Bally Technologies since 2006, during which time he helped turn that company around. Prior to Bally, Isaacs (left) ran the U.S. branch of Aristocrat Technologies before quitting after a clash with Aristocrat Leisure CEO Paul Oneile. The latter’s tenure was a bust and he’s not been heard from in two years. Although Isaacs takes office at Shufflemaster on April 1, this is anything but an April Fool’s joke. Interim CEO David Lopez resumes his “day job” as Shufflemaster’s COO.

While Isaacs’ resume tilts toward the slot side of the gaming floor, particularly in the realm of game development, he’s sharp as a tack and probably won’t have much of a “learning curve” at his new post. In a strange and morbid twist of fate, Continue reading

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Quote of the Day

Olivia Munn cuts through the usual morning-talk cr@p in an unforgettable blend of inebriation and performance art, proving the old saying, in vino veritas. These are the merest highlights. The unexpurgated version is much funnier.

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Old wine, new bottles

“[W]e’re not selling a shoe or a bottle of water. We’re selling an experience,” says Isle of Capri Casinos Vice President of Brand Marketing — and friend of S&GJulia Carcamo (left). Those words should be engraved on certain bean-counting casino bosses’ foreheads. Isle is certainly an example of a company that had to rather painfully reinvent itself, particularly with regard to the perception that it gone from industry leader to laggard, derisively known as “Pile of Debris.”

As part of former CEO Jim Perry‘s “new broom” regime, Carcamo was among those charged with differentiating the newer Isle properties from their older, tattier brethren. Hence the dusting off and remarketing of the Lady Luck brand for the older — and downmarket — properties. It was also applied (with positive results) to the former Casino Aztar riverboat in Caruthersville, Mo. After being a ward of the state, following the takeover of Aztar Corp., the boat has regained financial momentum under the Lady Luck flag.

Through the looking glass. Also doing some reinvention is former Harrah’s Entertainment veep Marilyn Winn. After switching teams to Wynn Resorts, she became Marilyn Winn-Spiegel and now Marilyn Spiegel, the better to put any association with “the H word” behind her, I suppose. That’s more reinvention than she ever did with the various Strip properties under her aegis since the catastrophic LBO went through. (I hear the words “Marilyn Winn” and have visions of peeling paint.) Coming from the cheeseparing regime at One Harrah’s Caesars Court to Wynn, finding that they “change carpet at least every nine to 12 months” at Wynncore must seem like the height of extravagance.

Unlike bombastic casino dilettantes such as Morgans Hotel Group and Smilin’ Sammy Naz(arian), Spiegel knows the casino business from the cage on up. That’s probably better than Continue reading

Posted in Current, Dining, Economy, Harrah's, Isle of Capri, Marketing, Missouri, Morgans Hotel Group, Sahara, Steve Wynn, The Strip | 2 Comments

Quote of the Day

“The employees I talked to last night (interestingly enough) didn’t have it in for [Sahara owner Sam] Nazarian. They had truckloads of blame for the management [Navegante Group] he put into place. One said ‘He spends $400 million on this place, then the management he puts in (rolling eyes with displeasure)…’.” — AccessVegas.com, in a comment thread following a recent Steve Friess blog entry … it’s complicated. Anyway, “Access Vegas” goes on to spin an interesting and not-implausible conspiracy theory about why Smilin’ Sammy Naz (left) is pulling the plug on his Moroccan place.

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The second coming

To follow the local media, you’d think Jesus Christ was returning to Earth at Caesars Palace. Instead, it’s Céline Marie Claudette Dion, who owns a just slightly smaller fanbase. Back when her first Caesars residency was announced, at a time when Sin City was experiencing a 2002 mini-slump, I wrote a piece for Nevada Business Journal entitled, “Celine Saves Vegas.” (The deal was so generous to Dion that it prematurely cost Park Place Entertainment CEO Tom Gallagher his job and set off a 2003 bloodbath in the executive suite.) That’s nothing compared to the hopes pinned on her now: According to the Today show, Dion’s presence is expected to boost Strip visitation 3% — i.e., more than CityCenter did.

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

Somebody needs to tell “journalist” Jenna Bush Hager that It’s Not About You. It looks like Dion’s got what Ed Sullivan used to call “a rrreally big shew” and won’t disappoint. Better still, there’s no trace of Continue reading

Posted in Cirque du Soleil, CityCenter, Current, Economy, Encore, Harrah's, history, The Strip, Tourism, TV | 8 Comments

Err Trump

Failed gaming mogul Donald Trump appears to be running his presidential quasi-campaign with the same business acumen that made his casino empire what it is today. The incident is more funny than anything else because Trump’s wouldn’t-fool-an-infant scheme is lifted from an ancient plotline on Dallas wherein J.R. Ewing used lawyer Alan Beam to front a sham “Draft Cliff Barnes for Congress” campaign, the better to pull the rug out from under Barnes (never a difficult task) later on. Once again, history repeats itself — first as prime-time drama, then as farce, although comparing The Donald to J.R. Ewing is inordinately flattering to Trump.

Posted in Current, Donald Trump, Iowa, Politics, Regulation, TV | 5 Comments