All-star atrocity

Pardon the digression whilst I vent about the bad joke that was last night's MLB All-Star Game (or was it the "State Farm All-Star Game" or something like that? Bud Selig is whoring the national pastime out like a regular pimp daddy). It was Exhibit A for everybody who hates baseball and says the games are too long and slow.

A 290-minute playing time is simply unforgivable, especially when you consider that it was prefaced by 90 minutes or so of huffing and puffing as Fox Sports foot-dragged its way to the first pitch. You'd think it was a presidential inauguration or something. Plus, the hellish 15-inning duration meant that we had to endure more than our fair share of those two Comstock Lodes of conventional wisdom, Joe Buck and Tim McCarver.

(Although the "WTF?" moment came from ESPN's normally sagacious Karl Ravech, who offered the seemingly insane opinion that George "The Boss" Steinbrenner was the most beloved person in Yankee Stadium that night. Heck, if fans had to choose between the also-present Yogi Berra and George, Steinbrenner would have trouble finishing third. Besides, has everyone forgotten the petty, vindictive and cruel ways in which Steinbrenner would punish pitchers like Jim Beattie, Hideki Irabu and Donovan Osborne who had the temerity to lose games?)

For an All-Star game, it also had precious few stars. The two managers — Terry Francona most of all — were in an obsence hurry to get the marquee players off the field ASAP. Which meant that the game was decided, and that most of it was played, by the second-stringers, not the players voted in by the fans, i.e., the players people were presumably tuning in to see. If truth-in-advertising laws had pertained to Fox's All-Star [sic] Game promotion, the TV spots would have featured Michael Young of the Texas Rangers and George Sherrill of the Baltimore Orioles, not Derek Jeter and Alex Rodriguez, who made but cameo appearances. "This time it counts?" You'd never know it from how the game was managed.

Just seconds before J.D. Drew clocked a fat fastball into the right-field stands, to erase a 2-0 National League lead, I thought, "He's going to homer on the next pitch and then he'll be more insufferable than ever." What's worse, he was all-too-predictably voted MVP of the game. That honor should have gone to Sherrill or, in a losing cause, the Rockies' Aaron Cook, who both performed extra-long relief stints as the game dragged into the wee hours of the morning, Yankee Stadium time.

But what made the game truly brutal, other than its marathon length, was the "uggla" play of Florida Marlins second-sacker Dan Uggla. If anyone single-handedly managed to lose the game for the NL, it was he. But with Chase Utley having been prematurely pulled, it was nine innings of ineptitude from Uggla that spectators got.

(In fairness to the NL players, they may still have been in a funk from that rambling, unfocused, repetitive and downright depressing speech Ernie Banks gave them in the clubhouse beforehand. Conversely, George Brett's feisty address to the AL crew made me want to grab a bat and have a go.)

Here's a modest suggestion for future All-Star Game managers: Don't yank (pun unintended) your starters until the game appears to be reasonably in hand. Both Francona and Clint Hurdle were congratulating themselves on having gotten everyone into the game. Being down to your last player isn't cause for popping a cork; it's an admission that you weren't managing to win. Heck, except for Mike Scioscia in 2003, nobody's tried that seemingly radical concept. Might be worth looking into again, y'know?

This wasn't a game for the ages. It merely succeeded in lasting for ages.

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Case Bets: Orleans, El Cortez, Harrah's arena

I’m in the second day of stomach flu, so small portions are advisable …

A “juice job” that followed two fatalities at The Orleans has come under federal scrutiny. In an unrelated development, Boyd Gaming board member Luther Mack has stepped down. Boyd says his seat will remain unfilled. Maybe he was irked by a rule change that requires a two-thirds vote of Boyd shareholders to call a special meeting, up from the former requirement of 50%. Maybe not. But with Boyd stock in the toilet (and unfairly so, IMO) it’s a way to keep those unruly shareholders at bay.

El Cortez critiqued. $26 million of renovations were sufficient to lure City Life‘s Andrew Kiraly back to “the venerable El Cortez.” He notes a significant winnowing-out of the slot floor, along with signs of still-in-progress work elsewhere. “The new carpet is bright, firm and strangely edible-looking,” though, and “even the patrons seem to have a new spring in their skulk.”

Don’t be discouraged: Coming from the caustic Kiraly, this is an out-and-out rave.

If the Las Vegas Weekly‘s search engine weren’t such and out-and-out frack-up, I’d be only too happy to point you toward a dispassionate, well-substantiated takedown of the dubiousness of piggybacking a sports arena onto Bally’s Las Vegas. (One word: parking?) It’s by Damon Hodge and well-worth reading … if you can find it, that is. Hodge deserves better.

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Ameristar spurned, Wynn rewarded

What’s worse than being jilted? Being told you’re too ugly to to even date. That’s about what happened to Ameristar Casinos, which just got blown off by Crown Ltd. Then again, look at James Packer’s American holdings and pending acquisitions (and don’t forget the Vegas Tower, aka Crown Las Vegas), and if’s got an overarching strategy — as opposed to speculative stabs here and there — it’s not easy to discern.

Packer’s about to tap into a nice revenue stream with that Pennsylvania racino. But not only do the two Cannerys look a bit down-market in his portfolio, it’s the worst possible moment to be entering the Las Vegas locals market, what with Boulder Strip and North Las Vegas down 30% in May. Ameristar is a steady performer with solid fundamentals and no Vegas exposure (an asset in this topsy-turvy market). Packer could do a lot worse and, in the case of the Vegas Tower, already has.

A nearly 100% increase in Macao operating income sent Wynn Resorts stock through the roof in after-hours trading, up 15%. That stock buyback program isn’t going to get Wynn as much bang for its 1.7 billion bucks, but if the price keeps ascending like this, management won’t mind, I’m sure. Analysts Larry Klatzkin and David Katz take opposing stances on just how much upside Wynn has at the moment. Whatever the case, the Street has punished Steve Wynn in the past for not sugarcoating the truth. Yesterday he told it what it didn’t what to hear — and was rewarded for doing so. That’s more like it.

Gaming stocks got you down? (Robin Farley confirms what I feared — that we’re in the worst market in over a decade.) And while those of on the “Vegas Gang” were thinking that the diversification of the Strip’s income stream was its bulwark, analyst Nick Danna says otherwise: “Their reliance on nongaming revenue is really hurting them,” as consumer purse strings tighten. He also adds his voice to the chorus of analysts who warn buyers off Vegas-centric stocks.

Take comfort in the fact that “the feel-good movie of the credit crunch” (adapted from the best show in Vegas) in less than a week away.

Posted in Ameristar, James Packer, Macau, MGM Mirage, Movies, Pennsylvania, Sheldon Adelson, Steve Wynn, The Strip, Wall Street | Comments Off on Ameristar spurned, Wynn rewarded

Indiana: It sure could be worse

… because you could be Illinois, where June gambling revenues went into the toilet (-21%). Which isn’t to say that Indiana‘s numbers look good only by comparison. In fact, the Hoosier State may be benefiting from the Land of Lincoln’s misery. It’s sort of a “Yes, but …” situation.

Yes, Indiana would be a lot worse off (-12%) without two new racinos, Hoosier Park and Indiana Live. Their addition has kept gambling revenues virtually flat from June ’07. And that’s two flat months (as in variance of less than 1%) after eight months of declines. In terms of gross, Hoosier Park vaulted into the #5 spot, while Indiana Live checked in at #9.

Yes, northern Indiana initially looks like it got clobbered (-11.5%). But once you Continue reading

Posted in Boyd Gaming, Columbia Sussex, Harrah's, Indiana, Penn National, Pinnacle Entertainment, Tribal, Wall Street | Comments Off on Indiana: It sure could be worse

Gambling > Gas Prices

Although a new Precision Opinion study of consumer attitudes vis-a-vis Las Vegas concludes that there's "a direct correlation between rising gas prices and reduced Las Vegas visitation," the news may not be as bad as it appears at first blush.

Whereas 79% of players surveyed in 2005 said they would stop driving to Vegas if gas prices hit a 'drop dead' point of $3.62/gallon, only 67% would do so now — and even then gas would have to hit $5.73/gallon. (And when it does, they'll still keep coming.) The real disenchantment is with airfares: Over twice as many now would take the bus to Las Vegas.

That's no small statement if you've ever endured the living Hell that is a Greyhound Bus ride. Instead of mocking the charter buses that are the mainstay of Atlantic City, we may soon be emulating them on an even grander scale.

Precision's data shows that 57% of California gamblers still haven't altered the frequency of their Vegas trips — and 69% have maintained or increased their gambling budget, compared to 50% of locals players. That's even though comparable numbers of both groups say that gas prices have had "some" or "a great deal" of impact on their personal budgets.

And, while I don't endorse this personally, more (47% in SoCal/49% locally) are reducing what they're putting into their savings accounts than are cutting back on weekend getaways and/or vacations. Finally, the older you are, the less inclined you are to curb those Vegas-visitin' urges. That may be the only truly bad news for Vegas, at least to the extent that it's put its eggs in the basket of the 21-30 crowd.

Posted in California, Current | Comments Off on Gambling > Gas Prices

"Mamma Mia!": the confusion thickens

For those keeping score at home, the marketers of the new Mamma Mia! movie are doing their damnest to blot our copy books. Songs cut from the film turn up on the soundtrack CD but ones that are in the movie are missing in action. (Supposedly we'll get sucker-punched with a really comprehensive movie soundtrack, on two CDs, somewhere down the road.)

As best can be determined — for those of you who care about such things (Shouldn't everyone?) — "Chiquitita" is still in, as is "Waterloo," but "The Name of the Game" (cut after test screenings) "Under Attack," "One of Us" and "Knowing Me, Knowing You" are out, the latter supplanted by 1981's "When All is Said and Done." No definitive word on "I Do, I Do … " (though I've read that it's sort of half-in, half-out.) A few other songs have been moved around and — in some cases — heavily reworked. And Amanda Seyfried is a colossal improvement on the adenoidal Sophie on the original cast album.

All of which means that, at a net loss of three songs, the stage version at Mandalay Bay remains the "value added" proposition, especially with the $30/ticket discount that ran in Las Vegas City Life last week. I've discovered that my appetite for Spamalot maxed out at two performances (and John O'Hurley, sadly, is no Randal Keith, the best King Arthur since Graham Chapman) and after four go-rounds with Phantom: The Vegas Spectacular, I've had enough to last me awhile. But, just as Wayne Brady's reinvention of the classic Vegas lounge show dwarfs his competition, Mamma Mia! is lightning in a Mandalay Bay bottle and should be enjoyed every chance you get.

Early reviews for the movie in the U.K. and Australia are raves almost across the board. This is my favorite, not least for its description of Pierce Brosnan's singing voice. (Beware: Thar be spoilers.)

Now if only Universal would stop marketing it as though scared stiff that people might guess that A) it's a musical and B) it features the music of ABBA. Thirty million people having seen the stage version, the word's probably gotten around already, y'know? If the movie version succeeds in the U.S. it will be a triumph of product over (pretty craptacular) marketing.

Posted in ABBA, Movies, The Strip | Comments Off on "Mamma Mia!": the confusion thickens

Quote of the Day

"I'm pleased that we reached this resolution, and I look forward to working with all the parties to reach consensus on the continuing restructuring efforts of the company." — Columbia Sussex CEO William J. Yung III, expressing his delight at being essentially kicked out of the casino industry last week.

Posted in Columbia Sussex | Comments Off on Quote of the Day

MTR in retreat

If MTR Gaming is still afloat today, it’s almost certainly thanks to the fact that its two remaining casinos — racinos in Chester, W.V., and Erie, Penn., enjoy oligopolistic market conditions where competitors are few and far between. A long piece outlines the dilemma faced by MTR. Hunker down and pay off debt, as outgoing CEO Edson “Ted” Arneault puts it, or try to aggressively fight back against a pincer movement from Pennsylvania.

Not only is nearby The Meadows racino (soon to be owned by James Packer) looming as an ever-greater threat, so too might Pittsburgh’s slot parlor … if Don Barden can ever get it finished, which looks doubtful. And MTR’s flagship racino in Chester is little more than a slot barn. Even second-tier Las Vegas locals casinos have evolved beyond that point, which may explain why MTR was a dud in the Vegas market (well, that and the fact that competition isn’t limited by statute), especially its failed tenure at Binion’s. These guys just don’t seem geared for intense, Vegas-style competition nor for casino-centric products.

Beyond the racinos, MTR’s holdings have dwindled to a few small-staffed harness-racing tracks, which might be hard to unload. Since they’re unprofitable, says a Moody’s analyst, how much gain lies in selling them? A source tells me that promised infrastructure upgrades in Chester never materialized (even as revenue grew 33%) and that access to Mountaineer wasn’t much more than a two-lane blacktop. Hard to compete with Pennsylvania, given those conditions. No wonder cash flow is off 34% in Chester.

Like Atlantic City, Mountaineer has an ace up its sleeve in the form of poker and other table games. Blackjack, craps and roulette are all played there (unlike Pennsylvania) and, without them, Mountaineer would probably very soon be toast. If MTR can hang onto that West Virginia table game oligopoly — and maybe scrap the harness tracks — it looks like it’s got a good chance to survive, though not thrive.

Trop still taking. The Culinary Union informs me it chatted up Las Vegas Tropicana management back in May and “certainly haven’t thrown in the towel … As you know, there are major ownership/management changes going on there which is a transition that makes scheduling negotiations challenging.” Management changes we knew about, but ownership … now this is intriguing.

Jerry’s Nugget, up in North Las Vegas, is still hanging tough with the Culinary, too, over a year after its contract elapsed. Small wonder the Culinary doesn’t want to take on the case of the overworked Imperial Palace maids: It’s having trouble closing all the deals already on its plate.

Posted in Columbia Sussex, Downtown, Labor, Pennsylvania, The Strip | Comments Off on MTR in retreat

Hole-in-the-wall casinos reviewed

In the current City Life, Lissa Townsend Rodgers visits a few of Las Vegas’ less publicized casinos, in search of $1 booze. The Gold Spike is lauded, provided your “goal is simply to get as drunk as possible as quickly as possible as cheaply as possible,” and don’t mind the smelly/scary vibe that is uniquely the Spike’s.

While the in-house brew at Ellis Island is pronounced “fairly meh,” Rodgers follows with an impassioned ode to the casino’s weekend karaoke nights. On such occasions, Ellis Island “becomes a hotbed of guys in fedoras and girls in their Friday night miniskirts, cramming the tiny, low-ceilinged lounge for karaoke, cheering each other through parodically impassioned versions of ‘The Star Spangled Banner’ and meandering-pitch renditions of ‘Landslide.'” Still, I worry about the sense of fun of people whose idea of cutting loose is to sing the National Anthem.

Purty, yes. But good?

But Ellis Island comes off as a veritable Bellagio when contrasted with the Elardi family’s Casino Royale. Or “a casino that’s housed in a neon-trimmed faux-Victorian hideosity with a Denny’s sticking out the side,” as Rodgers describes it. Worse still are the margaritas, which she likens to a lime-flavored snow cone.

As long as we’re plugging our favorite local alt-weekly, I’d be remiss in not *cough* plugging *cough* my reviews of And When Did You Last See Your Father? (a must for Jim Broadbent fans) and two Criterion reissues of films by Louis Malle. If that’s your bag, as we used to say in the Seventies.

Posted in Downtown, Movies, The Strip | Comments Off on Hole-in-the-wall casinos reviewed

Barden: The comedy continues

Financing for Don Barden‘s stalled Pittsburgh casino remains, as ever, two weeks away. Barden’s people say they’ll have it by mid-July (conveniently, after the next meeting of Pennsylvania’s gaming commission), they’re “continuing to close” with Credit Suisse, and contractors are “very anxious to get back to work.” I’ll bet — though not half as anxious as to get paid for work already done.

The Pittsburgh Courier also reports that Barden has already sold the Las Vegas Fitzgeralds for $35 million — but there’s mention of it either in online Clark County property records or in SEC filings by Barden’s Majestic Star company. Hmmmmm.

As the farce along the riverfront continues to play out, Barden’s proposal to drastically downsize the size and quality of Majestic Star Pittsburgh is playing to less-than-rave reviews. Mayor Luke Ravenstahl won’t quite call it a bait-and-switch but others are not so reserved, with one saying, “We want what was approved.”

Never at a loss for excuses, Barden’s mouthpiece, Bob Oltmanns, contends that the ‘slot parlor’ would be up and running were it not for pesky litigation. The putative villains, the Pittsburgh Steelers and Pirates, will have even greater reason to be vexed if Barden cuts back on riverfront access to Majestic Star, because that will mean that much more vehicular traffic tangling with motorists trying to get into or out of Heinz Field and/or PNC Park.

Then again, city and state officials were warned that access to Majestic Star could be very problematic indeed — warnings they chose to ignore. If they don’t like the barrel Don Barden’s got them over, they’ve no one to blame but themselves.

Posted in Downtown, Pennsylvania | Comments Off on Barden: The comedy continues

Harrah's: Just as predicted

… it's servicing its debt by issuing more debt. This isn't necessarily a bad thing, as it will save the company $100 million. "What is more curious, if not troubling, is the reference to retiring debt taking advantage of current market conditions," cautions analyst Barbara Cappaert (possibly a reference to the fact that Harrah's bonds are trading at an anemic 52 cents on the dollar).

Another satisfied customer: Add this Atlantic City regular's experience to growing volume of testimony that Harrah's Entertainment is turning into a big-ass Columbia Sussex

Just a quick thought about Harrah's properties in Atlantic City. I visited there about once a month with my wife for a number of years.  I play 25 dollar minimum blackjack and the horses.  She likes the slots and always liked their bar-b-que restaurant in Bally's Wild West Casino.

However, everything changed a couple of years ago. It started in the buffet when I noticed that the omelette maker had disappeared. We then noticed that they had closed our favorite restaurant to make it a waiting area for the buffet. We had stopped going to the buffet when I asked for my steak medium rare. It was quite well done and they did give me another steak. Unfortuately for someone, they put my old steak back with the bite taken out on the fire.

We then started getting put in the Claridge for our free room. To put it mildly, it is about the level of a Rodeway Inn. I then found that we were getting about one third the comps that we used to get for my play. We also were being charged 2 dollars for a cup of ice (with a little bit of flat soda added) in the horse race room. The final straw was when they made most of the tables "hit on soft 17" for blackjack.  We then started going to the Borgata instead and have not been back to any Harrah's property since that time.

Multiply us by hundreds, if not thousands of other customers who probably ran into the same problems over the past couple of years and you can see why they have trouble getting people inside to play their games.  They can blame it on the no smoking laws, the economy, or the high price of gas, but the real reason is probably their penny pinching ways and their poor customer service.

I don't know what else to say but it seems that especially in the casino business, bigger isn't necessarily better.  I have recently started getting better offers through the mail, but I won't set foot on any of their properties anymore.

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Vegas Right Now = Bargain Country

While the Las Vegas Convention & Visitors Authority may blanch from peddling bargain-oriented messages, we don’t. While it wasn’t that long ago that some of us were mourning the apparent demise of on-Strip bargains — or redefining said bargains as $100/night — the downward economic spiral of the U.S. has dramatically reconfigured the equation. And a 39% drop in MGM Grand room prices or a 45% plunge at Green Valley Ranch definitely qualifies as “dramatic.”

Boulder Strip quality at Las Vegas Strip prices

On the lighter side, you’ve got wonder what they’re smoking at the Longhorn or Speedway that leads them to believe they can justify price points equivalent to Sunset Station, Excalibur or Harrah’s Las Vegas — and 2.5X those at Palace Station. Oh well, optimism is an admirable quality.

Speaking of bargains, Wall Street is punishing Las Vegas Sands for its room discounting, not to mention predictions of a delayed opening (as in months later than planned) for Four Seasons Cotai. At $43.09 and falling, LVS is definitely a “bargain play,” off $105.67/share from its 52-week high.

Posted in Boulder Strip, Harrah's, LVCVA, Macau, MGM Mirage, Riviera, Sheldon Adelson, Station Casinos, The Strip, Wall Street | Comments Off on Vegas Right Now = Bargain Country

Denial in the suites

Gary Loveman must be working on his stand-up act. In today’s Wall Street Journal, he calls the present economic pickle “the toughest environment we’ve faced.” It might not be quite so difficult had Loveman not steered Harrah’s Entertainment (and its apparently sheep-like board) into a leveraged buyout, an act for which Loveman was handsomely compensated by new owners Apollo Management and Texas Pacific Group.

It gets better. Loveman tells the WSJ, apparently with a straight face, that Harrah’s is “profitable.” Somebody must have hid the most recent 10-Q from him. That little piece of paper shows a March 31, 2007 profit of $185.3 million swinging to a $187.8 million loss one year later.

And if you’re “boosting visits to its regional casinos by c Continue reading

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Court smacks down ColSux; Pinball and Dragons

This just in: The legal appeal by Columbia Sussex of its New Jersey license denial has been ashcanned by an appellate court. In a 44-page ruling, the court sided with the New Jersey Casino Control Commission, writing — in part — that “The findings made by the commission that Tropicana lacked the financial integrity and responsibility, as well as business ability, are amply supported by the record.”

We may not have heard the last from the famously “contumacious” William J. Yung III, but it appears that all systems are go for a sale of the Trop … if only the NJCCC and its bungling conservator, Justice Gary Stein, could ever get their act together.

Las Vegas’ Pinball Hall of Fame gets some well-deserved love from the Los Angeles Times. As luck would have it, the Significant Other and I blew a roll of quarters (and then some) at the Pinball HoF last Sunday and — when it comes to value for your dollar — this is probably the best deal in Vegas. Not to mention that it’s about as much sheer fun as you can find anywhere in town. Even though my hand-eye coordination is too f-ed up to make me a viable pinball player, there’s no denying the endorphin rush. (The only game I performed well on was — wouldn’t you know it? — Stargate.)

One bad boy. That’d be the new star of Mandalay Bay‘s Shark Reef, its seven-foot-long Komodo Dragon. This massive predator is such a badass that he’ll bite you, then stalk you for as much as a week, waiting for his deadly saliva to do its work. Mandalay Bay’s resident dragon looks like a cool customer and he fixed me with a hypnotic stare that was uncomfortably reminiscent of James Earl Jones as the shape-shifting Thulsa Doom in Conan the Barbarian.

As much as we admired the great predators (especially the water monitor and the crocodile) our greatest awe was reserved for the gentle majesty of the sea turtles, mystic creatures of great serenity. Amidst all its “wow” factor, Shark Reef does a terrific job of inculcating visitors with eco-friendliness and warnings as to the dangers of overexploiting the oceans. (Although there’s an irony in the exhibit that decries the harvesting of sharks for the fins, even as some high roller is probably sitting down to a bowl of shark’s fin soup somewhere else in the casino.)

Hats off to the former Mandalay Resort Group for making a home for this noble endeavor, and to MGM Mirage for keeping it going. There aren’t many things in Las Vegas that ennoble the spirit but Shark Reef is one of them.

Posted in Animals, Atlantic City, Columbia Sussex, MGM Mirage, Regulation, The Strip | Comments Off on Court smacks down ColSux; Pinball and Dragons

Tripped up by Trop

State-appointed conservator Justice Gary Stein continues to trip over his shoelaces in his efforts to sell the Atlantic City Tropicana. Amazingly, the New Jersey Casino Control Commission still backs him, even though Stein has given commission members precious little reason to maintain confidence in his stewardship. It's almost — almost — enough to make you nostalgic for Columbia Sussex. Well, OK, not quiiiiiiiiite that bad.

Still, as a colleague of mine who knows Atlantic City like the back of his hand said recently, it would have been a pleasant surprise had the Trop fetched bids north of $650 million. Instead, at least two of the offers have been in the $850 million-$950 million range. But Stein has the effrontery to deem them "unreasonably low." That's a decision for the collective wisdom that is the free market, not for a middleman. Stein needs to strike the best deal he can (preferably with Cordish Cos. or Planet Hollywood, which has taken the former Aladdin from 18th to 8th in Strip gambler volume in the past year) and get the hell out. He's wasted enough taxpayer money already.

Posted in Atlantic City, Columbia Sussex, Regulation | Comments Off on Tripped up by Trop

Lady Luck deal in offing

On Wednesday, the Las Vegas City Council is scheduled to vote on an agreement that may finally re-start development of the long-defunct Lady Luck Hotel & Casino. As you may recall, the Henry Brent Co. planned to convert half the property into condos and keep the other half a hotel.

Foolishly, Brent closed down the whole kit 'n kaboodle, rather than renovating in stages. So long, cash flow. Not surprisingly, the project eventually ground to an agonizing halt, leaving downtown Las Vegas with one more eyesore, of which there was already no surfet.

Current owner CIM/LL Las Vegas has been presented with a laundry list of demands from the city, including at least $100 million in upgrades to the Lady Luck, ones which will make it theoretically commensurate with a three-star hotel. In return, the city will make various concessions, including bending the rules regarding "the placement of supergraphic and tall-wall signs." Three million dollars derived from said signage (over a 10-year period) will go to the so-called "Mob Museum" — its full and fancy name is The Las Vegas Museum of Organized Crime and Law Enforcement.

In return for getting the Ogden Garage from the city at a discounted rate (anywhere from 40% to 61% off its appraised value), CIM has to spend a half-million on upgrades. It also gets a big chunk of city land (again, at a discount), contingent on building a low-rise mix of retail, restaurants and nightclubs — and, yes, maybe condos.

If CIM can't get started by New Year's Eve next or isn't "substantially" done two years later, all bets are off … although I doubt the City of Las Vegas is going to want to revert to having yet another dark, half-finished Lady Luck looming in its midst. CIM may not be holding all the cards, but the city seems to be trying to make the best of a weak hand.

Posted in Downtown | Comments Off on Lady Luck deal in offing

"Raking" it in at Trump

Once I'd read that Trump Plaza had gone to automated no-dealer poker, my first thought was, "What becomes of the 'rake'?" Not to worry: The machines have taken care of it. Or, as Casino Manager Anthony Spagno was kind enough to explain, "As the case with a dealer, the rake is deducted from the pot at certain intervals during each hand with a maximum of $3.00. Time raked games are deducted from the players table stakes according to the rake schedule."

Automated poker is catching on at Trump Plaza in part, I suspect, because there was no poker there previously and because, according to the article, it provides a user-friendly 'bunny slope' upon which to get acclimated to the game.

These Poker Tek tables have yet to be approved in Nevada, where I'm sure they'll produce an interesting schism. Obviously, no self-respecting poker room on the Strip would install them, but they'd probably do well out on the floor amongst the casual players, even more so than Rapid Roulette, for instance.

And I can definitely see PokerPro muscling into the low-budget Vegas casinos and maybe even some mid-market ones. For instance, you could plunk them down in the poker "room" at Suncoast (really just a random corner of the casino floor) and I doubt anyone would notice the difference.

June's Bad Service Award goes to the bartender at the Sahara's NASCAR Cafe. I killed time there with a soda while some friends and family went roller-coaster-riding. The bartender was surly, took forever (on a very slow Saturday night) and my $2.95 Coke came in a thimble. No tip for that schmuck.

Why is it that casinos are usually willing to pay higher taxes when virtually every other business is only too eager to shirk its civic responsibility? The latest group of gambling halls to pony up are the East Baton Rouge riverboats. Most generous, at least in theory (because it haven't built its riverboat yet) is Pinnacle Entertainment, offering 4.5% of revenues outright, according to JP Morgan.

More complicated formulas apply to the two extant vessels. Columbia Sussex's Belle of Baton Rouge will pay 2% if revenues are less than $73.6 million, but — if that benchmark is achieved — it pays a split rate of 3.5% on the first $73.6 million and an extra percent on anything more. Penn National's Hollywood Casino Baton Rouge subscribes to an identical formula, save that the magic number for Penn is $100 million, not $73.6 million (which seems to be a nice way of saying that Penn is trouncing Columbia Sussex. What a surprise.)

The new tax rates supplant $2.50/head boarding fees formerly in place in East Baton Rouge Parish.

Posted in Atlantic City, Columbia Sussex, Donald Trump, Louisiana, Penn National, Pinnacle Entertainment, Sahara, The Strip | Comments Off on "Raking" it in at Trump

Something's brewing on Koval; Echelon goes underground

Harrah’s Entertainment continues to demolish the low-rise apartment dwellings it accumulated behind its Barbary Coast/Flamingo/Imperial Palace/Harrah’s Las Vegas cluster of properties. Also, a shiny new fleet of construction trailers now sits where Bourbon Street‘s hotel tower once did. Could we be seeing the first stirrings of “Epicentre”?

Regardless, apartment owner Oscar Nuñez, whose sad, little buildings are surrounded by more and more piles of rubble, looks the Big Loser of 2007. He squandered his opportunity to sell out to Gary Loveman when the market was at its height and Loveman was on a buying spree. Now he’s missed his moment and will probably either have to settle for a depressed price or watch Harrah’s build up all around him just out of spite.

Incidentally, we passed the now-infamous corner of Koval and Winnick the other night, on our way back from The Palazzo, and couldn’t help but think: If there’s anything left in the state budget other than a few pennies, nickels and some lint when Gov. Jim Gibbons finishes demolishing it, perhaps the Nevada Historial Society could erect an historical marker at the Koval/Winnick nexus, commemorating the sad story of Javon Walker — if he ever gets it straight, that is.

Direct Strip access is the holy grail of megaresort design — and those, like the Aladdin/Planet Ho, who ignore it do so at their own peril. Unfortunately, this means gnarly tangles of pedestrians, cars, buses … everything except rickshaws, when a crosswalk (er, “pedestrian realm”) must vie with the grand entrance of a Paris Las Vegas, say.

Kudos to Boyd Gaming, then, for circumventing this problem by planning a pedestrian tunnel “underneath the main project driveway” at Echelon, 151 feet long by 20 feet wide (the Strip is to the lower R-hand side of the rendering, above.) To provide some visual compensation, Boyd plans to line the tunnel with glass display cases (contents unspecified).

If there’s anything to regret, it’s the renaming of Stardust Road as “Echelon Resort Drive” (Boo!). The Stardust was a proud and important part of Boyd history and it would be touching if some vestige of it (however vestigial) lived on as part of Echelon. Instead, it looks like one more trace of our already ephemeral history will be effaced.

Those clever Germans, what new technical marvels will they, uh, conceive next? As long as my enjoyment of baseball games and Battlestar Galactica is to be disrupted by infestations of commercials featuring randy AARP members singing — sometimes literally — the praises of Viagra and Cialis, then the FDA had better get this spray-on prophylactic to market, stat. Just imagine the sales in Las Vegas (and Nye County) alone!

More is Less Dept.: Even if Mamma Mia! is coming to the big screen on July 18 — in cinematic treatment that makes the stage production look monastic — you’ll still get more music for your money at the live version, hanging tough at Mandalay Bay.

The Internet Movie Database and Wikipedia are — surprise, surprise — at odds as to which songs made the cut and which didn’t, while the movie’s official site is no help whatsovever. “Knowing Me, Knowing You” is definitely Out (and, from what I’ve been able to deduce, Pierce Brosnan‘s vocal limitations may have been a consideration — imagine Van Morrison covering ABBA). So are the Act II curtain-raiser, “Under Attack”, “One of Us” and the fatuous “Thank You for the Music” — which has supposedly been reinstated as end-credits music. And a 1981 song, “When All Is Said and Done” has somehow found its way into the show. WTF?

If Wikipedia is to be believed, the songs have also been re-sequenced, with “I Do, I Do … ” moved to the 3/4 mark. But if IMDB has its facts right, the encores of “Dancing Queen” and “Waterloo” are supplanted with other songs — which would be grounds for criminal prosecution, if not rioting in the streets.

However this shakes out, it appears highly unlikely that the movie is going to make the stage version in any way redundant. (Which is another way of saying MGM Mirage should let Mamma Mia! run at Mandalay Bay until its producers decide otherwise.)

And if all this makes your head spin, have a quiet lie-down and enjoy the sublime Meryl Streep letting ‘er rip in the title song and three others (with assists from Christine Baranski and Julie Walters), including a by turns rueful and torchy “The Winner Takes it All.” She should dust off the air piano and take this act on the road.

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Case Bets: Airport, Encore, Pahrump, Roadhouse

You know things are bad when McCarran International Airport offers space for three hotel-registration kiosks (ranging from 525 to 935 square feet, starting at $200/foot) and can’t find takers for all of them. Fifteen possible candidates were solicited and, when all was said and done, McCarran received two — count ’em, two — bids.

MGM Grand will get the mid-sized (764 sq. ft.) space, having bid on all three — albeit at the minimum. The Venetian Casino Resort was feeling more open-handed, offering to start at $400/square foot, but decided that the smallest of the three kiosk areas was sufficient to its purposes. Which means there’s almost 1,000 square feet of express check-in area at McCarran going begging. Belts must be getting pretty tight ’round here.

Encore is taking applications. I wonder what prospective dealers are going to hear about tipping policies in their job interviews (and how many of them will be unhappy campers from Caesars Palace and other Harrah’s Entertainment properties). Wynn Las Vegas dealers who are sticking it out through slow-moving negotiations would surrender a hard-won victory by applying at Encore?

And does Steve Wynn risk having unionization spread to his new casino if he raids his Wynn LV dealer pool for Encore? If he extends his tip-confiscation policy to Encore, what incentive would current Wynn dealers have to apply there, other than perhaps a bump in their base salary? Does it boil down to arguing that keeping most of your share of the tip pool at Encore is better that keeping all of what you’d make anywhere else? Since Wynn’s properties are still perceived as the top of the food chain (regardless of what Sheldon Adelson proclaims), that could still constitute a powerful argument.

Besides, you have to tip your cap to any company that makes the preservation of the King’s English part of its code of conduct: “Use complete sentences, avoiding slang and phrase fragments.” Because that’s like so totally … Whatever. Y’know?

Blame it on Kansas. Maybe it’s because their eyes are on landing a contract to build a megaresort in Kansas. Or maybe Pahrump just seems like small potatoes when you’re hanging out with Kurt Busch and Daniel Negreanu, but Golden Gaming has bailed on its purchase of Saddle West Hotel & Casino, dumping it back into the lap of Marnell Sher Gaming.

Roadhouse rides again. Another one of the ghost casinos of Sunset Road rose again as a slot house, if only for eight hours, to keep its gaming entitlement alive. Can the former Holy Cow Brew Pub & Casino be far behind?

Posted in Boulder Strip, Current, Harrah's, MGM Mirage, Sheldon Adelson, Steve Wynn, The Strip | Comments Off on Case Bets: Airport, Encore, Pahrump, Roadhouse

Quagmire at the Trop

So the feckless — and costly — Tropicana conservatorship of Justice Gary Stein is to drag on still further. Let’s see: Bids that were supposedly “unreasonably lower” but which Stein refuses to share with the public. A wholesale chucking-out of a bidding process which has dragged on for over half a year. A revelation that Stein has been playing footsie with other potential buyers, even after the process was closed. Bland reassurances that everything will go much faster this time around. (Remember, Stein was initially supposed to have this whole thing wrapped up last April).

As one exasperated newspaper reader puts it, “Fair market value is what the property is worth adn [sic] what people are willng to pay for it, not what you want the property to be worth!” Oh, and Stein wants to retain a second set of financial advisers. At the rate Stein is pissing money away, it’s a miracle the Trop can meet its payroll.

When the Last Trump (pun intended) sounds for Continue reading

Posted in Atlantic City, Columbia Sussex, Donald Trump, Regulation, The Strip | Comments Off on Quagmire at the Trop