As expected, Boyd Gaming has punted on its purchase option for MGM Resorts International‘s half of Borgata. With the emergence of investor Leonard Green as potential co-owner — as opposed to another casino company — Boyd gets what it surely hopes will be a passive partner, one who’ll be content to collect a monthly check for half the profits … and Borgata is one of the very few Atlantic City casinos operating in the black. The company “indicated [full ownership] would have generated an insufficient return on investment,” according to a J.P. Morgan investor note, which goes on to speculate that the company may liquidate its own half of the casino-resort. (Doesn’t make sense to me, as Borgata is Boyd’s biggest earner, but OK.) Boyd’s carefully hoarded borrowing capacity can now be aimed at an acquisition of on-the-block Ameristar Casinos.
In terms of geographical diversity, as well as its locals/tourist mix of properties, Ameristar makes more sense for Boyd than for anyone else. That’s not to say that Harrah’s Entertainment won’t get into the Ameristar derby. Under Gary Loveman, its governing philosophy might be characterized as “more is more” (hence four casinos in Atlantic City), whether bondholders like it or not. An Ameristar buyout would create numerous redundancies within both Harrah’s and Penn National Gaming, but that’s not the sort of concern that would preclude either of those particular companies from getting into the hunt.
“Far from being a threat, Canada is a major contributor to economic prosperity in your state. More than 1.3 million visitors from Canada visited Nevada in 2009, creating tens of thousands of jobs, and Canada-Nevada trade totalled [sic] more than $1.3 billion. In fact, the Las Vegas Tourism and Convention Bureau Association has recently opened three sales offices in Canada and most major Canadian cities have direct flights to Las Vegas.” — Gary Doer, Canadian ambassador to the U.S., 
Penn is making mischief in Maryland, spending as much as $2 million to tip a referendum in Anne Arundel County against rival Cordish Gaming. With the de facto support of Gov. Martin O’Malley (left), Penn is scheming to wrest the Anne Arundel slot concession from Cordish by dint of persuading voters to 
“At each turn, our state leaders abdicated their public duty, failed to impose ethical restraints and focused on political gain at a cost of millions to New Yorkers. Shamefully, the public’s best interest was a matter of militant indifference to them.” — New York State Inspector General Joseph Fisch, on the process whereby Aqueduct Entertainment Group — which included Las Vegas-based Navegante Group and the Rev. Floyd Flake — 
It’s conceivable. And, if former Nevada Gaming Commission Chairman Brian Sandoval (left) gets his wish, it’s justifiable. So let S&G be first to put that idea into play. Since Sandoval’s 
Sharron Angle‘s latest kamikaze dive into the CityCenter aircraft carrier has sparked quite a bit of discussion in the S&G “Comments” threads. A couple of things spring to mind. One, if she is now alleging that MGM Resorts International imported 6,500 workers to fill jobs at CityCenter (perhaps smuggled in from — gasp! — 
If I ever — God forbid! — run for office in Nevada, I’m going to just make stuff up and lie my head off. After all, candidates on both sides of this year’s marquee races have set the “truthiness” bar at subterranean level and, when called it on, just keep reiterating their mendacity. (The amount of money being wasted on political ads here is truly nauseating in a time of such widespread economic malaise.)
As predicted and dreaded by skeptical bond analysts, proceeds from Harrah’s Entertainment‘s semi-IPO of 17% of the company, it has been officially disclosed, 
Bowing to reality, Macao‘s government will accede to Las Vegas Sands‘ desire — and rather desperate need — for 
“I think that you’re misinterpreting those commercials. I’m not sure that those are Latinos in that commercial.” — Sharron Angle, 
Confronted with an anemic patient — i.e., the Las Vegas Strip — attending physician Gary Loveman, Ph.D, has been prescribing a series of stimuli. (Possibly the only “economic stimulus” that all Americans can support.) Since customers are spending more selectively, first, Harrah’s Entertainment dangled the “Buffet of Buffets.” OK, so they didn’t do the initial math so well on that, had to raise prices and bungled the rollout. But it’s still one of the strongest bargain plays in town, especially when you consider the average price of on-Strip dining. The per-person price would barely cover the gratuity at someplace like 
“Blame for Nevada’s problems should be distributed around the state—not to the congressional delegation, but to governors and legislators from both parties who have relied on gaming revenue and federal projects. Not only have Democrats and Republicans alike done nothing to encourage us as Nevadans to take responsibility for our own fate, they have encouraged dependence on outsiders in a state that claims to believe in independence.” — College of Southern Nevada history professor Michael Green, on the near-inevitable collapse of the Silver State’s economy.
No wonder Steve Wynn and Sheldon Adelson love it in China. Where else are you going to find such a compliant media, able to extract a silver lining from the darkest of clouds. For instance, “cost overruns” are something that only afflict us running-dog capitalists in the West. In 
It didn’t take MGM long to respond,