What a difference four years makes; Lowden follies

In the course of correcting the record about former North Las Vegas mayor — and current gubernatorial aspirant — Michael Montandon (R) on a different Web site, I had to cause to dust off an old press clipping. Back when Montandon was mayor and taking a go-slow attitude toward casino expansion in NLV, Station Casinos claimed to be totally down with Hizzoner’s approach.

Well, that sure changed when Boyd Gaming was able to swap a gambling-enabled parcel it inherited from Coast Casinos and trade it for acreage within what was to have been Gary Goett‘s northern counterpart to Southern Highlands. (The gaming entitlement was removed from the former Coast site and transplanted to Goett’s.)

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While this didn’t increase the number of prospective casino sites in NLV, it was evidently enough to get Station’s corporate shorts in a wad. Ergo the subsequent and ongoing insistence that it be allowed to build Losee Station on non-gaming-entitled land it held near the Goett project. Never mind that Station had benefited — twice — from the same kind of one-for-one tradeoff that enabled Boyd to move up to the 215.

Perhaps Station was incensed that Montandon had gone back his public stance regarding Goett’s Olympia Development Group: “Are they going to be allowed a casino on their site as well? I am not in favor of that.” However, since Montandon was able to preserve his goal of not adding casino sites by allowing Boyd to pick up and move, his position holds (slightly) more intellectual water than did Station’s ensuing umbrage. (You’ll also note from the article that Aliante Station [above] went from $450 million to an ultimate $662 million — a 47% cost overrun.)

As has been covered here, Station and Boyd conducted a proxy war in the last North Las Vegas mayoral election. Since Station’s candidate won, we could — economic development permitting — see a very different casino landscape in NLV. Then again, I’ve been told the problem with the locals market isn’t that people haven’t ceased going to the casino — that much is obvious — but that for every five bucks they used to drop, they’re now spending two. So whether Montandon’s go-slow policy remains in place or not, the economy has applied its own set of brakes to northward expansion.

Sue Lowden. As a political candidate, she makes a helluva casino executive. Or maybe not, if she thinks a 21-point loss translates into a victorious “sweep.” Since Lowden is Archon Corp.’s treasurer, you have to wonder how it keeps its books balanced, in light of Ms. Lowden’s mad math skillz.

Posted in Archon Corp., Boyd Gaming, Economy, Election, Gary Goett, North Las Vegas, Politics, Station Casinos | 1 Comment

Privé in the privvy

Privé

It’s business as usual at Planet Hollywood‘s troubled Privé nightclub. Once week, a license revocation, today a bankruptcy filing. Do you think maybe Planet Ho will be happy to see the last of the Miami-based owners of the club? (Photo: JeffInOKC)

Elsewhere at Planet Ho, it must be quite a jigsaw puzzle-like task to assemble the schedule for V Theater. Its impresario, David Saxe, not only has at least nine shows in repertory, he’s about to add three more. Next Tuesday, Hitzville! arrives at V by way of Harmon Theater and Green Valley Ranch. It will go into the 6 p.m. time slot preceding Gerry McCambridge‘s The Mentalist (except on Wednesdays, when it spells McCambridge for a night). Something described only as Intensi-T fills the one “dark” slot (Thursday) in Fab Four‘s schedule. Saxe also takes in a refugee from one of Planet Ho’s showrooms, Tony ‘n Tina’s Wedding. For this, Saxe will open a third V space on Dec. 19.

Further up the Strip, the schism between Sandy Hackett and other members of The Rat Pack is Back! has resulted in a sort of rump faction setting up shop in the Sahara‘s Congo Room (also under Saxe-y auspicies). Titled Sandy Hackett’s Rat Pack Show, it opens Nov. 19. Personally, I think we should have a moratorium on Rat Pack tributes until Matt Goss and Zowie Bowie either leave town or at least forswear covering Frank Sinatra standards (because their Rat Pack medleys blow donkeys).

But perhaps you’re of a more forgiving disposition than I. Whatever the case, it’s good to see Saxe opening a quartet of new shows when so many others are tottering or going dark.

Posted in Current, Entertainment, Planet Hollywood, Sahara, Station Casinos, Tamares Group, The Strip | 5 Comments

Station vs. Richfield; Operation Showgirl; The Wayner, etc.

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What made 130+ houses (and a clutch of apartment buildings) behind Palace Station so important that Station Casinos — currently busy sweating video poker play — was paying three and four times market value during a period when the Las Vegas real estate market was cratering? Therein lies a mystery. Almost four years after Station started agglomerating bits and pieces of Richfield Village, it says it doesn’t have a plan for the area — nor a timeline. Never did, apparently.

(Mad props to Two Way Hard Three creator Hunter Hillegas, who planted the seed of this story back in April.)

Rex Bell

The Fertitta Brothers have long been in the habit of stockpiling local real estate parcels like so many nuclear warheads. Unfortunately, that means that large tracts of the valley are now locked in the deep freeze, accentuating the blight we’re currently experiencing. Just ask people who have been waiting for something, anything to be done on the former Castaways site (now for re-sale, for a cool $39.5 million). And Durango Station may be the locals-casino “failsino” of which legends are made: oft-announced, still unbuilt. Something — Aliante Station, “Viva,” Losee Station, “Castaways Station” — keeps leapfrogging it to the head of the queue. By levering up to its eyeteeth and then (surprise!) going into Chapter 11, Station took a big slice of the Vegas economy hostage, victim of will o’ the wisp decisionmaking and hubristic ambition.

Showgirls II. Another confessional from the presidential campaign of Sen. John McCain (R-AZ) has emerged, this one involving Vegas showgirls. (No, not in that way.) “Operation Showgirl” was the brainchild of Archon Corp. treasurer (and current senatorial aspirant) Sue Lowden. The article’s account of the state GOP convention that Lowden controversially aborted is best taken with a grain of salt, though.

Newton_v2Once is too much. Word through the Dancing with the Stars grapevine is that Wayne Newton was and continues to be very close to the professional dancers on the show, remaining good friends with former partner Cheryl Burke (left, on opening night) and putting up Kym Johnson in his guest house when she comes to Vegas to rehearse with the Flamingo‘s Donny Osmond. However, Wayne the Mensch is less of a pressing concern than Newton the Trainwreck. The Wayner’s Tropicana show is not merely bad, it is the worst in town. A high tolerance for pain is a prerequisite for attending.

As a business decision on the part of Trop CEO Alex Yemenidjian, however, the Newton signing cannot be second guessed. Even as scribes strive to outdo each other in describing the mind-scarring sucktasticity that is Once Before I Go, it generates free publicity and stimulates (morbid?) curiosity that no media buy could match. Besides, even if Newton is a shockingly hollow remnant of his former self, given his status as “Mr. Las Vegas,” there will still be people willing to plunk down the price of admission so they can say they saw him play the Strip — and the Trop has obliged them.

Score: Tropicana 1, Newton 0.

Now it can be told. It seems that Bette Midler‘s extended stay at Caesars Palace was a disappointment for everyone involved, including Harrah’s Entertainment, AEG, ticket scalpers and Midler herself.

Posted in Alex Yemenidjian, Archon Corp., Current, Economy, Harrah's, Harry Reid, Marketing, Politics, Station Casinos, TV | 8 Comments

Quote of the Day

sunset-boulevard.jpeg“There’s a sort of desperate, delusional Sunset Boulevard quality to this vanity project. At times it feels like we’ve all been cornered by ol’ Uncle Wayne and forced to watch home movies and the History Channel in his rec room at Casa de Shenandoah.” — Las Vegas Sun critic Joe Brown, saying what needs to be said about Wayne Newton‘s desperately bad Once Before I Go at the Tropicana. Newton’s acolytes sound just as cultish and defensive as those “Loyals” who hang upon every utterance of Criss F. Angel.

Posted in Alex Yemenidjian, Entertainment, The Strip | Comments Off on Quote of the Day

Quote of the Day

CityCenter 2

“You’re going to get people who will come and sit here all day.” — Robin Leach, during a media tour of the new Crystals retail mall (above). Sit? All day? In Las Vegas? Unless they’re playing in slot or poker tournament? I dunno.

Posted in CityCenter, MGM Mirage, The Strip, Tourism | Comments Off on Quote of the Day

Case Bets: Strippers, Tomlin & no water in Macao

Being still deeply enmeshed in CityCenter-related materials (Kirvin Doak must be getting paid by the word, judging from the plethora of press releases it’s generated), I have to be a hit-and-run blogger today.

Can’t go to the strip club? No problem! The strip club will come to you. What’s newsworthy here is not the presence of exotic dancers on wheels but the degree of neediness to which clubs are sinking if they have to resort to such promotions. This kind of abject supplication would have been unthinkable five years ago. And to think people actually find this shocking. The only thing in the TV report that offends my sensibilities is the notion of a double-length Hummer limousine. Now that’s obscene.

Venetian Macao

Now here’s a crisis to which a Vegas casino executive can relate: Macao is on the brink of water rationing. Smallish town grown big virtually overnight? Insufficient infrastructure or forethough? Unsustainable levels of growth? Yes, those who ignored history in Las Vegas appear doomed to repeat it in Macao.

Too bad about those “thousands of luxury bathtubs,” those canals and lagoons at Venetian Macao, that wave pool at City of Dreams. It’s also a reminder of how the Chinese government could tighten the screws on the enclave if it perceives the casino industry to be out of control.

But once the immediate crisis has passed, this could prove to be a valuable “teaching moment” for the industry. As Lake Mead continues to sink and Southern Nevada Water Authority potentate Pat Mulroy tries to suck the cow counties dry via a monster pipeline, the notion of Vegas experiencing a Macao-like water crisis is not far-fetched. After all, if God meant people to play golf in Nevada, he’d send them to Reno.

If you can’t come to Las Vegas and see Lily Tomlin‘s Not Playing with a Full Deck at the MGM Grand … well, you’re probably missing something great. But if that’s the case, here’s an extended colloquy with Tomlin for your reading pleasure.

Crazy from the heat? Back when John Fredericks was a Vegas weatherman with a peculiar on-air preoccupation with his dog, many of us thought he had a screw loose. Boy, we didn’t know the half of it. Be warned: It’s creeptastic stuff.

Speaking of which, our long national nightmare is over. Americans have finally succeeded in voting spasmatic Aaron Carter off Dancing with the Stars, after several tries. Flamingo headliner Donny Osmond and his sparkling partner Kym Johnson are still very much in the hunt but Donny’s age is taking a toll and he’s no cinch to win the coveted Mirror Ball Trophy. But he really should find a way to work that Adam Ant-inspired routine into his Flamingo show.

Posted in Current, Entertainment, Environment, Harrah's, James Packer, Lawrence Ho, Macau, Marketing, Melco Crown Entertainment, MGM Mirage, Sheldon Adelson, The Strip, Tourism, TV | Comments Off on Case Bets: Strippers, Tomlin & no water in Macao

Quote of the Day

CityCenter 8

“It was intriguing to me that you can have a valley of 2 million people spread around the suburbs without the logical counterpoint that you would typically find in large metropolitan markets, having a large urban core.” — MGM Mirage CEO Jim Murren, describing the genesis of CityCenter. It’s from an article on the metaresort that I’m in the process of writing … so if you don’t hear much from S&G over the next day or so, that’s why.

Posted in CityCenter, MGM Mirage, The Strip | 4 Comments

Strip bottoming out

September’s Nevada gaming revenue numbers are in and the good news is that the Strip is only -4% year/year. (Strip revs were down all of ’08 but didn’t fall off the cliff until October, when they tumbled 26%.) This makes September officially the Least Sucky Month of 2009, both for the Strip and statewide (-9%). Baccarat win was up 30% despite weak hold and table win grew 8%, but Strip slot revenues were -13%, despite a 4% bump in visitation.

Both hotel occupancy (83%) and ADRs ($91.18, -19%) continued to suffer, partly because of added rooms — and despite an impressive ramp-up (12%) in conventioneers. (September 2008’s convention stats were ghastly, with 18% fewer meetings held and -27% attendees. Put that in your pipe and smoke it, Steve Wynn.)

aliante2The ravages of the depression on Nevadans’ wallets were felt, though, with locals casinos posting a 22% plunge (-28% on the Boulder Strip). At least the addition of Aliante Station cushioned the blow for North Las Vegas, down a mere 8% — and the only revenue-positive market of 2009.

Silver Lining Dept.: Hotel occupancy came at the expense of motels (52% in September), as aggressive discounting is evidently prompting customers to upgrade. Also, negative trends in Reno and other Northern Nevada markets have moderated, unlike places like Mesquite and Primm, whose troubles appear to be deepening despite higher drive-in traffic (+10% from California alone).

Bill Yung’s penny-pinching ways paid off for Columbia Sussex this year. A 3% revenue increase allowed the casino-hotelier to cling to the top spot in the 2009 Deloitte Cincinnati USA 100. What does it say about the Queen City’s economy that ColSux is its colossus?

Wynn“The best balance sheet in gaming.” That’s what J.P. Morgan analysts say about Wynn Resorts. They like it even more if Wynn’s Cotai Strip™ project gets built. They estimate it could add as much as $13 value per share. Wynn doesn’t have the biggest market capitalization or cash flow, but his debt schedule puts Las Vegas Sands and MGM Mirage to shame. He’s slated to be down to just under $1 billion in two years, when LVS and MGM will be awash in $11 billion and $12 billion in net debt, respectively.

New gaming-capacity infusions in Macao are smallish for the next two years: 300 tables and twice as many slots at Stanley Ho‘s Oceanus, plus a smattering of new positions elsewhere in 2010, followed by Galaxy World‘s 450 tables and 1,000 slots in 2011. But in 2012 Sheldon Adelson is expected to drown Cotai in 790 new tables and 3,500 more slots (while Galaxy World expands with 680 additional tables and slots). Can Wynn beat Adelson to market? Given Adelson’s track record for almost never opening on schedule, this is one race where the hare has to be favored over the tortoise.

Fewer G2E fireworks? This year’s Global Gaming Expo “State of the Industry” panel has been announced and it will be the first in memory not to feature the harrumphing presence of Harrah’s Entertainment CEO Gary Loveman. Which is too bad, given that last year saw him and AGA President Frank Fahrenkopf exchanging some sharp passive-aggressive jabs, to say nothing of Loveman unloading a truckload of patronizing hot air on then-IGT CEO T.J. Matthews.

This year’s round-up is a far cry from the days when “State of the Industry” meant The Gary & Terry Show (as in Loveman and Lanni). Boyd Gaming CEO Keith Smith is on board, along with Isle of Capri COO Virginia McDowell, Aristocrat Technologies President Nick Khin and Guillermo E. Gabella of Boldt S.A. It’s nice to see continuing movement away from “State of the Industry” U.S.-centric past.

Posted in Aristocrat, Boulder Strip, Boyd Gaming, Columbia Sussex, Current, Economy, G2E, Harrah's, Herbst Gaming, International, Isle of Capri, Macau, Mesquite, Ohio, Reno, Sheldon Adelson, Stanley Ho, Station Casinos, Steve Wynn, The Strip, Tourism, Transportation, Wall Street | Comments Off on Strip bottoming out

Shows! Shows! Shows!

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Another clutch of reviews by Yr. Humble Blogger has appeared on TheWizardOfVegas.com, though my notes on the current Wayne Newton fiasco at the Tropicana Las Vegas are of such dubious legibility that they may never see the light of day. Anyway, for the curious here are recent jottings on …

Bite

Crazy Horse Paris (above, reviewed during the first of its two Carmen Electra-augmented runs)

Jubilee (well, Donn Arden’s Jubilee if you want to get all technical about it)

Matt Goss (in which we attempt to define the suddenly omnipresent adjective “Gossy”)

Mental (at the Strip’s scummiest casino, O’Shea’s)

Vintage Vegas (the Zowie Bowie catastrophe you’ll tell your grandkids about)

Don’t say you weren’t warned!

Posted in Entertainment, George Maloof, Harrah's, MGM Mirage, The Strip | 6 Comments

Quote of the Day

“Turns out Newton isn’t the only Wayne in town with shot vocal cords.” — DailyFiasco.com, reporting on Wayne Brady‘s cancellation of all remaining 2009 performances of Making %@it Up at the Venetian. We can’t imagine an under-the-weather Brady sounding worse than a purportedly healthy (but vocally ruined) Wayne Newton.

Posted in Current, Entertainment, Sheldon Adelson, The Strip | Comments Off on Quote of the Day

Trouble in River City

River Place

In a shocking development that’s bound to set tongues a-wagging, Pinnacle Entertainment CEO Dan Lee has “resigned to pursue other business interests” (industry-speak for “Don’t let the doorknob hit you in the butt”). The buzz is that Pinnacle’s strategy was creating friction between Lee and his board, and the former’s intemperate behavior at a St. Louis County Council meeting provided the flashpoint. Lee’s public meltdown clearly made him expendable and Pinnacle has wasted no time in pushing him under the regulatory bus. (The just-barely tenable status of Pinnacle’s Admiral riverboat doubtless contributed immensely to whatever other stresses Lee has been feeling.)

Other factors might have un-endeared Lee to his board: a slow ramp-up of Lumiere Place in St. Louis, for example. Lee was like those of us who gorge themselves at the buffet and regret it afterward. He had another St. Louis-area casino in train — River City (above) — as well as two in Louisiana. And then there was the ongoing embarrassment that was Pinnacle’s Atlantic City project. Lee was too quick to close and demolish the old Sands, and ruffled too many feathers when trying to expand Pinnacle’s Boardwalk footprint.

The eventual mothballing of the A.C. project made it a subject of local ridicule, culminating with the indignity of city fathers mulling the prospect of using it for a parking lot (with the encouragement of Harrah’s Entertainment‘s Atlantic City czar, Don Marrandino) without consulting Pinnacle first. Ironically, for someone who made his name as the Mirage Resorts apostle of fiscal discipline, Lee’s tenure at Pinnacle displayed rashness, a tendency to overspend and/or overplan. Only the suicidal determination of Columbia Sussex to have Aztar Corp. at any cost whatsoever (even to the point of bidding against itself) saved Pinnacle from grossly overpaying for that set of casinos.

Ever-unsentimental, stock pickers rejoiced in the news, rewarding PNK with a runup in its share price. Wall Street speculation has Pinnacle putting both its hard-won Baton Rouge riverboat and its second Lake Charles casino onto the back burner (again). Not only is that a blow to both communities but the timing is cruel, as the two casinos had only just re-emerged from a protracted holding pattern. J.P. Morgan analysts like the idea “which could allow the company to be more of a net free cash flow generator,” although they prefer Pinnacle’s expansion-oriented strategy to Boyd Gaming‘s pursuit of Station Casinos and Penn National Gaming‘s quixotic interest in Fontainebleau.

So the hunt is on for a new CEO and he or she can’t arrive soon enough. Sans Lee, Pinnacle’s fate has been entrusted to interim chairman Richard Goeglein, who helmed (read: bumbled) the famously disastrous opening of the new Aladdin (now Planet Hollywood) as its first CEO. Stepping into Lee’s shoes is casino relic John Giovenco, whose last operational post in the industry was as CFO of Hilton Gaming Corp. … back in 1993. At least some reassurance can be had from the presence of former Boyd CFO Ellis Landau, who’s only a couple of years removed from day-to-day operations.

Pinnacle’s likely criterion for a prospective CEO is said to be someone from a Harrah’s-like, regionally focused operation. As Morgan notes, blackly, “Given a large number of displaced gaming executives, we don’t think there is a shortage of talent out there to replace Mr. Lee.” Names that come to mind just cursorily include Karen Sock, late of Harrah’s (who was to have been entrusted with the Biloxi “Margaritaville” project before that went into a deep freeze), former Hard Rock Biloxi President Joe Billhimer and perhaps even former Caesars Entertainment CEO Wallace Barr, forced out by Harrah’s takeover of that company. Let the games begin!

Posted in Atlantic City, Boyd Gaming, Columbia Sussex, Current, Economy, Fontainebleau, Harrah's, Louisiana, Missouri, Pinnacle Entertainment, Planet Hollywood, Politics, Regulation, Station Casinos | 8 Comments

Use found for The Harmon

Yes, “Dubai’s Diminuendo,” the “Harmonini,” Baldwin’s Bump, whatever you want to call it, has been given a purpose in life. Strip hotel guests awoke in the wee hours of Saturday morning to behold the following:

Harmon wrap

If nothing else, the truncated Harmon tower, which was to have housed a boutique hotel and 207 condos (before being lopped off at the midway point), turns out to be good for something … being wrapped with a mammoth sign for Cirque du Soleil‘s Viva Elvis. It may not be the highest and best use of the property, which won’t be finished for another year (perhaps never, according to one local journo), but MGM Mirage has got to make the place earn its keep somehow. (Photo by JeffInOKC)

Posted in Architecture, Cirque du Soleil, CityCenter, Current, Entertainment, Marketing, MGM Mirage, The Strip | 1 Comment

Quote of the Day

crissangel-logo“If not exactly humbled by the show’s critical drubbing and lackluster sales, [Criss] Angel, now the butt of jokes by most other Strip comics and magicians, seems less hubristic than he did a year ago. There’s less swagger and no chest-baring (Angel appears to have put on a few pounds). He looks like what he is — a cape-wearing Long Island schlub with a tragic Jennifer Aniston haircut.” — Las Vegas Sun theatre critic Joe Brown, reviewing an apparently un-“fixated” Believe, the Cirque du Soleil vanity project that, against all odds, is limping into its second year at Luxor.

Posted in Cirque du Soleil, Cretins, Entertainment, MGM Mirage, The Strip | Comments Off on Quote of the Day

Best idea of the week … or year

CityCenterFrom our Today’s News feed:

Until now, MGM Mirage exercised a policy of having each property in the group compete with the others, as if they were totally independent competing entities. It was a strategy designed to keep salespeople ‘on their toes,’ but it’s one that new CEO Jim Murren feels has put the company at a competitive disadvantage. Hence, MGM Mirage will now follow the same model that Harrah’s has employed successfully for years, with group sales agents cross-selling rooms, restaurants, and entertainment options throughout the entire group, based on the customer’s needs and preferences.

Bravo! With CityCenter (above) about to plunk thousands of additional rooms and scores of new amenities on the market, it’s high MGM’s casinos began working together rather than against each other. (The old silo-oriented business model never made a lot of sense to me but it seemed to work during pre-depression years.) Kudos to Murren for having the huevos to concede that the old ways weren’t working and it was time to steal a page from the competition. Many another CEO would let his ego get in the way of necessary change.

From Bette to Achmed? According to one rumor making the rounds, Caesars Palace will go drastically down-market when Bette Midler wraps up her show on Jan. 31. Writes an LVA subscriber:

I know know who will replace [Midler] … Jeff Dunham and his great list of puppets! I received in the mail yesterday an offer from Caesars for two free Jeff Dunham tickets for late November. The correspondence says these performances are his inaugural performances, as he is scheduled to take over the Colosseum beginning toward the end of January, for 2010. It’s been years since I have seen anything funnier than Jeff and his puppets, especially Acchhhhhhmed, the Dead Terrorist!  Makes me break up with laughter simply thinking about it!

However, the Las Vegas Review-Journal‘s Mike Weatherford hypothesizes that Dunham will be filling gaps in the Colosseum schedule, as Harrah’s continues to wait for Céline Dion to decide whether she wants to return to The House That Celine Built.

Good for Gibbons. The Silver State is one of the worst in the nation, when it comes to recycling and we’ve got the landfills to prove it. Well, Gov. Jim Gibbons proposes to do something about that and make recycling a top priority for Nevada. It sure beats being “Trash Compactor for California.” It’s a splendid idea and I hope we’re not too far gone budgetarily to pull this thing off.

Wasn’t that clever? The newly ratified Ohio casino industry just got a little bit more incestuous. It’s been revealed that Lakes Entertainment CEO Lyle Berman made a last-minute $4.3 million cash infusion into the pro-casino campaign. The quid pro quo is that Berman gets the option to buy 10% of all four casinos that voters improved. If these cozy, interlocking ownership agreements don’t raise regulatory eyebrows, nothing will. Remember that Berman’s own one-casino proposal was resoundingly rejected by Ohio voters last year, with the help of a media blitz funded by one of his new business partners, Penn National Gaming.

Scarcely a week passes that we don’t hear about how vexed Steve Wynn is with all the empty land and unfinished projects surrounding Wynncore. Perhaps he might take a minute to what it’s like for his neighbors in northwest Las Vegas to have to stare at a big, fenced-off empty lot — a little residential project that El Steve began on a grand scale, then abandoned. The subject of Wynn’s wasted space came up in conversation recently with City Councilwoman Lois Tarkanian, who theorizes that Wynn bought the area with the intention of building a master-planned set of homes for his descendants. Now it’s the Alta Drive version of El Ad Properties‘ comatose Plaza project for the old New Frontier site.

Posted in California, CityCenter, Current, Economy, Entertainment, Environment, Harrah's, Marketing, MGM Mirage, Ohio, Penn National, Plaza, Steve Wynn | 2 Comments

Greek Isles, buy a clue

greek_isles_hotel_casinoIf anybody’s holding a vote on Las Vegas’ dullest casino Web site, surely the runaway winner will be that for the Greek Isles. It’s so boring, so unimaginative, so Midwest riverboat casino of 12 years ago that it practically yawns in your face. Take, if you must, the page for resident magician Antonio Casanova. (Yes, he’s supposedly a descendant of that Casanova.)

Notice anything missing? Like maybe ticket prices? Show times? Seriously, Greek Isles, if you ever want to be known as something other than the casino equivalent of the walking dead, you’ll need to put in a smidgen of effort. Did you pay for that site? I have friends who create better Web pages just for fun. Yes, making sport of the Greek Isles is like tripping a dwarf, but somebody’s got to do it.

Posted in Entertainment, Technology, The Strip | 3 Comments

Quote of the Day

“It appears the U.S. gaming pie is not getting bigger, and the slices continue to get smaller.” — Moody’s analyst Keith Foley on the impact of Ohio casinos on an already-shrinking revenue base. Southern Indiana looks to get hit especially hard.

Posted in Current, Economy, Indiana, Ohio, Wall Street | 1 Comment

The evils of bingo; Wynn’s Aqueduct exit

oasis-hotelAmerica’s sixth-largest casino is in rural Alabama and it commands hotel prices comparable to CityCenter. Its 6,400 Class II devices mean that VictoryLand (above) is one gargantuan e-bingo hall. Due to the state’s patchwork set of laws, e-bingo is legal in Alabama except where it isn’t. Gov. Bob Riley, a former beneficiary of Jack Abramoff‘s sleazy dealings, is trying to leverage county-specific court rulings into a statewide fatwa.

Ron SparksRiley opponents on both sides of next year’s gubernatorial race — including Agriculture Commissioner Ron Sparks (left)– are moving toward the position that Alabama should legitimize, tax and regulate e-bingo or at least put it to a vote of the people. Would-be Riley successor Judge Roy “Ten Commandments” Moore is all for exorcising this demonic bingo from the state, so the governor’s got one of the best minds of the Dark Ages in his corner, at least.

Did Harrah’s Entertainment sabotage two riverboats on Lake Charles? So claims the plaintiff in an antitrust suit. The U.S. Court of Appeals, fifth circuit, was unpersuaded and heaved the case overboard.

Speaking of Harrah’s, a dog track it covets in Rhode Island has gone to ’round-the-clock casino gambling. The locals aren’t going to like this one little bit but once lawmakers predicated their budget on squeezing another few million out of Twin River, the fix was in. The expanded schedule, of course, makes Twin Rivers’ license that much more desirable.

One Isle less. A former Isle of Capri casino in the Bahamas changes hands this week, closing yet another chapter in Isle’s ill-fated courtship of the international casino market.

Singapore’s casinos are still months from opening but that’s not stopping the government. It’s already working hard to discourage casino patronage. All the more reason for boundless optimism, no?

Steve Wynn’s abrupt departure from the bidding over Aqueduct Park may have less to do with the $200 million upfront fee than with irascibility brought on by neighborhood activists and gubernatorial whims. It’s a net loss for New York, as Wynn Resorts was one of the most financially shipshape applicants and the candidate least likely to stint on quality.

Posted in Alabama, Cretins, Current, Economy, Harrah's, International, Isle of Capri, Louisiana, New York, Pinnacle Entertainment, Politics, Racinos, Singapore, Steve Wynn, Taxes | 1 Comment

Wynncore: the best revenge

Screen shot 2009-11-02 at 9.32.07 PMIf Wynn Resorts legal beagle Kevin Tourek didn’t make a complete fool of himself with his self-aggrandizing cease-and-desist letter to VegasTripping.com, then VT.com owner Chuck Monster finishes the job with a lengthy and subtly humorous rebuttal. In a lightly ironic smackdown of Mr. Tourek, Mr. Monster offers him the Wynncore.com domain name for the princely sum of $22.95 — but only if Steve Wynn personally signs the check. The next logical step in this farce will be for Wynn Resorts to start haggling over the price.

Of course, in terms of Tourek’s time and the cost of his keen legal acumen, Wynn has already splurged far more than that domain ever could be worth. I’m sure the shareholders are grateful that this is how their money is being spent.

CityCenter kills quarter. The big writedown of CityCenter‘s value singlehandedly turned MGM Mirage‘s 3Q09 from a profit to a loss. Not even a 21% decline in room revenue had such a drastic effect. It seems like just yesterday that hotel rooms were a loss leader. Not anymore and probably never again. The megaresort trend took care of that.

The Borscht Belt is back thanks to the casino industry. Not that I’d travel up to the Poconos (or even across the street) to hear Frank Sinatra Jr. But many do and who am I to argue with what floats their boat?

Lily Tomlin comes to town, playing the Strip for the first time ever. Unfortunately, we lacked space for more than the merest smattering of Tomlinesque reminiscences. That’s something that may have to be redressed in Web-only form.

Posted in CityCenter, Current, Encore, Entertainment, MGM Mirage, Pennsylvania, Steve Wynn, Technology, Tourism, Wall Street | 1 Comment

Much ado about something?

Vive le Roi! After much coy hugger-mugger, Cirque du Soleil has just announced the name of its Aria show is … wait for it, people … Viva Elvis. (I cannot decide if the uninspired logo, which looks like a Ronco LP cover, is simply lame or somebody’s notion of irony.) Mon dieu! Quelle choc … mais non! It’s not like Steve Friess didn’t break this story on The Strip Podcast weeks and weeks ago.

bette-picElvis in, Bette out. You’ve got three months left to see Bette Midler in The Showgirl Must Go On. This Vegas revue to end them all rings down the final curtain on Jan. 31. Speculation has her going to Wynncore but it doesn’t sound that way to me.

If you’re not an S&G subscriber, you may have missed an eyebrow-raising story that subscriber Toland posted in the “Comments” section (and which another reader forwarded me privately). It seems that Pinnacle Entertainment CEO Dan Lee let his understandable desire to dominate the St. Louis market get the better of him Tuesday night. If the St. Louis County Council votes in favor of a rival project’s rezoning request — which it did — it’s one more nail in the coffin of Lee’s plans to ship the Admiral up to the Chain of Rocks Bridge, drop anchor there and protect the northern flank of his St. Louis market.

Intemperate behavior like that which is being alleged isn’t going to help his cause, either, although with the matter now in the hands of the courts, the Tuesday-night melodrama could easily wind up being much ado about nothing. In any event, it doesn’t square with the calm and circumspect image Lee has cultivated for, lo, these many years.

Posted in Cirque du Soleil, CityCenter, Current, Encore, Entertainment, Harrah's, Missouri, Pinnacle Entertainment, Regulation, Steve Wynn, The Strip | 1 Comment

“It’s a bargain hunter’s paradise”

CityCenter 5

So sayeth our own Anthony Curtis, toward the end of a superb MSNBC analysis of the impending impact of CityCenter. Other industry moguls, including Sheldon Adelson and Steve Wynn, take a cautious but hopeful view. Even the normally optimistic Bill Lerner of Union Gaming Group tempers MGM Mirage CEO Jim Murren‘s euphoria just a bit, projecting 5% visitation growth next year, as opposed to Murren’s 10% prediction.

They say it’s spinach and they say to hell with it. Or words to that effect. Kansas casino arbitrators are losing enthusiasm for the resorts proposed by Penn National Gaming and Lakes Entertainment, respectively. In a “If you can’t beat them, join them” move, Penn bought Cordish Gaming out of the Kansas Speedway casino proposal and Lakes merged with some of its Wichita-area rivals. But with only two bids on the table for two licenses, the Kansas Lottery Board is underwhelmed and may go back to Square One. For the third time.

The impasse continues. A farcical attempt to bring slots to the greater Baltimore area continues to be a clash of the obstinate vs. the stubborn. A latest attempt to cut the Gordian Knot appears to be going nowhere. Ann Arundel County is in serious danger of frittering a major economic boost away.

Apropos of nothing, last night’s season opener of V was fairly awesome. I’m just sayin’. But only four episodes and then a long hiatus? Gimme a break, ABC! Or are you copying the SciFi, er, SyFy Channel playbook. Yeah, them’s some winning moves. (Not.)

Posted in CityCenter, Cordish Co., Economy, Kansas, Maryland, MGM Mirage, Penn National, Regulation, Sheldon Adelson, Steve Wynn, Tourism, TV, Wall Street | 2 Comments