Just because Missouri can have 13 casinos doesn’t mean it must. Or so contends Missouri Gaming Commission Chairman Jim Mathewson, hinting that none of the four pending applications might be accepted. He asks, “If all we do is take a high percentage of business away from other casinos in the same area, well, then what’s the point?”
Good question. My own take is — and has been for some time — that when the state has but a finite number of licenses to bestow, it becomes responsible for the economic welfare of the industry. For instance, Iowa Gov. Chet Culver (D) wanted to flood his state with new casinos at a time when the existing ones are just treading water. Cramming the market with new gambling venues just because guvmint is greedy for licensing fees, say, is never a good way of thinking. Two of the casinos proposed in Missouri are in the greater St. Louis area, much afflicted with cannibalization right now and one is near Kansas City, which is also struggling. That would seem to point favorably in the direction of Cape Girardeau. But the hometown of Rush Limbaugh might yet vote gambling down on Election Day.
For obvious reasons, all four projects have relatively modest budgets. The costliest, a $350 million Spanish Lake casino, would cost about the same as the average Pennsylvania slot parlor but has opposition in local government. Which brings us to another point of regulatory umbrage. Basically, Mathewson doesn’t like the amount of investment being contemplated for any of the four projects … although, in this economy, it would be crazy to spend Lumiere Place-sized dollars. The four contenders break down as follows: Continue reading
Tilman Fertitta, that is. The Landry’s Restaurants CEO 
If you can, get on down to the Las Vegas Strip today, where letters have been affixed to the roof of Cosmopolitan‘s east tower (left). It looks awfully narrow to fit “Cosmopolitan” up there and so far they’ve managed to squeeze in “OSMOPO.” Dunno about you but that seems a mite catchy. As with “Planet Ho” (whose nickname arose from a similar signage hiatus), it will be difficult not to think of the place as “Osmopo” henceforth.
They call for desperate measures, it’s said. MGM Resorts International has just rolled out a heckuva bargain play. If you can 
Tamares’ PR could (obviously) use some work because I’m hearing that the renovation of the Plaza is budgeted at far more than the announced $20 million and that the money represents an equity commitment on Tamares’ behalf, not a loan. In addition to relocating the Plaza’s jerky shop, bingo room and certain other amenities to the Vegas Club, the latter is slated to have its carpeting redone. At least that’s the word on the street. What Tamares could really use is a joint-venture partner but that’s apparently not under consideration for the time being.
Back in 2005, Mayor Oscar Goodman told a reporter — 
“If you don’t hold us accountable, we’ll do some real bad things in Washington, D.C.” — casino heir and swinger Sen. John Ensign (R-NV), pleading to be saved from himself. Who knew Foggy Bottom was the real Sin City?
“You’re not going to Las Vegas to see the king of beasts, you’re going there for gambling and hookers! You don’t go to see two guys in MGM Grand T-shirts poking at lions! That’s not right!” — David Letterman, on the 
Four hundred Las Vegans will find themselves pink-slipped by Tamares Group, whose latest bequest to downtown will be 
Donald Trump has even more reason to scowl and squint today. His old buddy Richard Fields — to my complete non-surprise — walked away from his interminably protracted attempt to buy Trump Marina at ever-lower prices. (He’s got a point: If Resorts Atlantic City‘s feeble grosses merited only $35 from Gomes Gaming, then Trump Marina by rights should fetch even less.) Rather pathetically, Trump Entertainment Resorts CEO Mark Juliano continued to insist that TER’s codependent/abusive relationship with Fields was still viable, four breakups notwithstanding. This, after years of a Fields negotiation process that boiled down to “haggle and delay, haggle and delay.” (I’ve had doubts about Fields’ hat-to-cattle ratio ever since he put his Manhattan apartment on the block a couple of years back.)
Several gubernatorial jousts have serious implications for casino expansion in this great U.S. of A. In Ohio, Gov. Ted Strickland (D and once tipped as a possible vice-president) is trailing former Rep. John Kasich (R), based on 
While it’s still a stretch that Sheldon Adelson is going to bank an annual $1 billion profit on Marina Bay Sands, as he predicts, he’s making money hand over fist there anyway. J.P. Morgan analysts say Marina Bay is on pace to rake in an average $1.2 billion in cash flow per year (and they keep recalibrating their estimates upward) and will have 45% of market share. Non-gambling revenue is flat but the casino floor is more than making up for it. Next year, when both casinos will be open for 365 days, Morgan analysts see Singapore proving to be a $5 billion market, adding another $500 million in 2012. How much do you think Steve Wynn is regretting giving Singapore a pass?
Hey, Gary Loveman, don’t let the doorknob hit you in the butt as you skedaddle out of Kansas