Quote of the Day

Posted on May 8, 2020 by David McKee

“The virus does not take weekends off. From the standpoint of Atlantic City, the virus is not observing Memorial Day.”—Spectrum Gaming Group Managing Director Michael Pollock, on when to reopen the Boardwalk.

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Nevada begins reopening sooner than expected

Posted on May 8, 2020 by David McKee

What do brothels and casinos have in common? (Some would say you get screwed in both.) Neither can reopen during Phase One of Gov. Steve Sisolak‘s multi-stage resumption of business as usual in Nevada, starting tomorrow. Most of the continuing closures make sense as they include things like gyms (think of all that sweat in the air), bars that don’t serve food, public pools, live entertainment, movie theaters, zoos, aquariums, bowling alleys, miniature golf, ‘adult entertainment establishments,’ spas and tattoo parlors, among others. Compared to many of those types of businesses, casinos seem as safe as a nursery ward. For the first time we’re beginning to think gaming is getting a bum rap.

Business that did make the grade for reopening include restaurants (at 50% capacity), barber shops and hair salons, provided there is social distancing. Now we’re overdue for a haircut but how Continue reading →

Posted in Caesars Entertainment, Conventions, Cretins, Dining, Economy, Entertainment, G2E, Health, Massachusetts, Nevada, Technology, The Strip, Wynn Resorts | 3 Comments

Indian Country keeping pace with the times

Posted on May 8, 2020 by David McKee

By guest contributor Robb Monkman

Certain things in life can be a gamble but what about personal safety? Or, in the case of casinos, what about the safety of staff? Of course the answer seems obvious. Admittedly, the well-being of staff should never be left to chance or treated with the same whimsical probability so often applied to a friendly game of blackjack, right? And yet for years the safety of staff on casino grounds was anything but assured. Just as hotels have struggled with the prevalence of staff-related incidents including, but not limited to, injury, harassment and assault, bustling casinos have endured the development of similar concerning trends. Casinos, after all, invite an influx of guests from around the world, with studies showing that 26% of the population gambles (1.6 billion people worldwide, to be precise), along with a 4.1% increase in tribal gaming revenues. As patrons are caught up in games of chance Continue reading →

Posted in Canada, Health, Illinois, Security, Technology, Tribal, Unite-Here | Comments Off on Indian Country keeping pace with the times

Creative responses to a crisis

Posted on May 7, 2020 by David McKee

Leave it to Derek Stevens to find a way to literally drive sports-betting business in Downtown. Starting this morning, Circa Sports began taking curbside sports bets at the Golden Gate. You pull up, flash your cash (or plastic) and a sort of sports-wagering valet takes your action. The choice of wagers includes UFC 249, Korean KBO Baseball, TaylorMade Skins Match, NASCAR, Cactus Tour Golf, the Outlaw Golf Tour, South Korea K League, Belarusian Premier League, e-sports events, major sports futures, etc. (We don’t mind saying we haven’t heard of roughly half of those … but bettors can’t be choosers these days.) For deposits and contest fees you have to have the exact amount needed. No change will be made. Winning and refund tickets will be applied to application balances. The headline wager is the parlay Circa Survivor, with its 18 legs, one for each week of NFL play. Not only is there a $1 million payout to the winner, Stevens is promising a Continue reading →

Posted in Caesars Entertainment, California, Culinary Union, Derek Stevens, Dining, Downtown, e-sports, Economy, Health, Law enforcement, MGM Resorts International, Nevada, Penn National, Regulation, Sports, Sports betting, Taxes, The Strip, Tourism, Transportation, Tribal, Wall Street | 2 Comments

Quote of the Day

Posted on May 7, 2020 by David McKee

Posted in Entertainment, TV | Comments Off on Quote of the Day

Goodman batshit crazy; Detroit puts casinos on ‘hold’

Posted on May 7, 2020 by David McKee

Could we be seeing the last of Las Vegas Mayor Carolyn Goodman (I), and her ‘every man for himself and devil take the hindmost’ approach to Coronavirus? Poker pro Doug Polk has begun a recall petition drive to try and return Her Honor to the private life she would so richly endow. Incidentally, after reading several first-person narratives of Covid-19, we are 101% confident that if Mrs. Goodman had the disease in January, as she laughingly states “might” have happened, she A) would be in no doubt and B) wouldn’t want to put anyone else at risk. Oblivious to the dangers of the pandemic, Goodman continues to run her trap, putting fear of poverty on an equal footing with a fear of illness (an illness that has claimed more American lives than did the Vietnam War). “When,” she wailed, “is too soon too late?” In your case, Your Honor, Continue reading →

Posted in Caesars Entertainment, Detroit, Dining, Downtown, Eldorado Resorts, Health, Michigan, Politics, Sports, Tilman Fertitta, Tribal, Wall Street | 3 Comments

Culinary: Do more; Pent-up demand?

Posted on May 6, 2020 by David McKee

Although Nevada regulators seem to think that companies like Las Vegas Sands and Wynn Resorts are going too far with their reopening protocols the Culinary Union begs to differ. Noting that 15 Culinary members or family members have died of Coronavirus, Secretary-Treasurer Geoconda Argüello-Kline advanced the local’s own prescriptions for resumption of business. (It should be noted that companies which flout the Nevada Gaming Commission‘s relatively toothless set of rules will not be fined. Way to go, NGC.) In addition to supporting temperature screenings of customers, the Culinary wants … Continue reading →

Posted in Culinary Union, Economy, Health, Las Vegas Sands, Nevada, Regulation, Unite-Here, Wynn Resorts | 2 Comments

Vegas bingo on death watch; Nevada regulators dither

Posted on May 6, 2020 by David McKee

Bingo is such a staple of the Las Vegas locals casino that it seems unimaginable that it would go the way of the buffet and the dodo. But such may be the case. VitalVegas author Scott Roeben says he is “told reliably” that Texas Station‘s bingo room is a goner and others may follow. According to Roeben, bingo is a loss-leader that brings in $1K/day. Although stale air and an elderly player base could make bingo rooms vectors for Covid-19, they’re also some of the easier venues in casinos in which social distancing could be enforced. So we’re going with Roeben’s theory that this is an economically motivated move. One thing’s for sure Continue reading →

Posted in Australia, Boyd Gaming, Crown Resorts, Downtown, Entertainment, Hawaii, Health, Idaho, James Packer, Melco Resorts & Entertainment, MGM Resorts International, Technology, Texas, The Strip, Tribal | 1 Comment

Quote of the Day

Posted on May 6, 2020 by David McKee

“The good news, if it pans out: Pharmaceutical giant Pfizer and the German company BioNTech announced this morning that they have started human trials in the US of a potential [Coronavirus] vaccine, and if the tests are successful, and the feds give a rush approval, it could be ready by September. Of course, some steps will have to be skipped along the way, making some worry about both its safety and efficacy. We’ll see. WWFD? (What Would Fauci Do?)”—from the Boston Globe’s “Fast Forward” newsletter.

Posted in Current, Health | 1 Comment

Colorado sports betting a hit; REIT bides its time

Posted on May 5, 2020 by David McKee

Sports betting came out of the gate strong in Colorado. One of the surprises was the amount of handle on the Los Angeles Lakers. Said DraftKings odds guru Johnny Avello, “One of the things I did find interesting was the Lakers were one of the higher team bets as far as handle. Obviously, you have some Lakers fans in that area.” Sorry, Denver Nuggets. However, punters in the state are mad for the Denver Broncos and their chances in an (iffy) NFL season. (Although the Dallas Cowboys racked up an impressive amount of action.) They led in handle and sheer number of bets. Similarly, the Colorado Rockies were favored by fans to win the World Series. Said Avello, “You can’t even compare it to Continue reading →

Posted in Baseball, Boyd Gaming, Colorado, DraftKings, e-sports, Eldorado Resorts, FanDuel, GLPI, Health, Horseracing, Illinois, Louisiana, Maryland, Mesquite, Pinnacle Entertainment, Sports, Sports betting, Wall Street | Comments Off on Colorado sports betting a hit; REIT bides its time

Everybody out of the pool!; Lean times in Indian Country

Posted on May 5, 2020 by David McKee

We were overly optimistic on when Nevada casinos can reopen. Gov. Steve Sisolak (D) has postponed that move until phase three or four of his four-step plan … which is also contingent on a two-week decline in new Coronavirus cases. If each phase consists of, say, a two-week period, that means casino reopenings would not take place until June 15 or July 1. There goes Memorial Day weekend. (Treasure Island is already SOL.) Sorry, Wynn Resorts. Now you can see why MGM Resorts International executives—prescient, it would seem—were modeling for a June resumption of business. For casino workers whose pay runs out May 15 or 31, a month of hardship looms. And even when casinos do reopen, it will be without nightclubs or that petri dish of Covid-19, pool parties. (We recommend reopening those in Phase XXVI or so.) You’ll be able to lounge by the pool, however, provided that you observe social distancing. In other departments, restaurants will have to disperse seating and casino floors will not be permitted to Continue reading →

Posted in Economy, Entertainment, Galaxy Entertainment, Hard Rock International, Health, International, Internet gambling, Macau, MGM Resorts International, Michigan, Mohegan Sun, Nevada, New Jersey, Regulation, Tribal, World Series of Poker, Wynn Resorts | Comments Off on Everybody out of the pool!; Lean times in Indian Country

Quote of the Day

Posted on May 5, 2020 by David McKee

“One of the things that’s so hard right now is the uncertainty about the future. I think a year from now we’ll have more information. After we pass the time of our grief and sadness, and our anxiety wanes a little, things will be better.”—professional painter Deborah Peeples on life during Coronavirus.

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Churchill Downs curbs plans; Murren’s big payday

Posted on May 4, 2020 by David McKee

In its 1Q20 earnings call Churchill Downs announced some significant retrenchments. Although the company is comfortably liquid ($701 million in the kitty) it’s put four expansions on hold: Rivers Casino Des Plaines, an enlargement of Miami Valley Gaming, a $300 million hotel at its titular racetrack and a $109 million “historical racing” parlor at Turfway Park. “Thus, we see this as a temporary pause in project capex spend, not an outright cancellation,” wrote JP Morgan analyst Daniel Politzer. The Kentucky Derby has been rescheduled for September and will be run with fans in the stands. “In a dire scenario where local guidelines prohibit public sporting events, we could hypothetically envision a scenario whereby CHDN would conduct the race in adherence with social distancing guidelines or, potentially Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Economy, Health, Horseracing, Illinois, Internet gambling, Jim Murren, Las Vegas Sands, Massachusetts, MGM Resorts International, Regulation, Sheldon Adelson, Station Casinos, Wall Street, Wynn Resorts | 1 Comment

Shakeup at MGM, layoffs at Station

Posted on May 4, 2020 by David McKee

In a late-Friday night of the long knives, MGM Resorts International let go four property presidents. The official nomenclature is “laid-off” but we strongly suspect, given MGM’s history, that this prefaces a streamlining and centralization of authority. Out the door were Randy Morton (Bellagio), Cindy Kiser-Murphy (New York-New York), Cliff Atkinson (Luxor) and Eric Fitzgerald (Excalibur). Along with them went an unspecified number of high-level executives. According to Josh Swissman, co-founder of think tank The Strategy Organization, regional property heads are next on the chopping block. “In the short term, it makes sense because of the phased opening approach and because of the … lower demand that everyone’s expecting,” Swissman told the Las Vegas Review-Journal.

As Global Market Advisors pundit Brendan Bussman told the paper, “This continues to show the pressure that Continue reading →

Posted in Boyd Gaming, California, CityCenter, Culinary Union, Economy, Las Vegas Sands, Macau, Massachusetts, MGM Resorts International, Penn National, Phil Ruffin, Station Casinos, The Strip, Wynn Resorts | 5 Comments

Quote of the Day

Posted on May 4, 2020 by David McKee

“Number one rule of Wall Street. Nobody … and I don’t care if you’re Warren Buffet or if you’re Jimmy Buffet. Nobody knows if a stock is gonna go up, down, sideways or in fucking circles. Least of all, stockbrokers, right?”—Mark Hanna (Matthew McConaughey) in The Wolf of Wall Street, written by Terence Winter.

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Quote of the Day

Posted on May 2, 2020 by David McKee

“And above all else, this whole scheme is designed to screw workers. Screw them. Force them into a no-win situation where they have to literally risk their lives and the lives of others, or walk away without a dime of the unemployment pay they earned. Meanwhile, corporations are sitting on loans that were supposed to go to providing payroll … just guess where that money will end up.”—Mark Sumner, on Iowa Gov. Kim Reynolds‘ back-to-work (or else) order.

Posted in Health, Iowa | 4 Comments

Maddox gets ants in his pants; Sports start to stir

Posted on May 1, 2020 by David McKee

As part of the Business Roundtable at the White House, CEO Matt Maddox got to stump for Wynn Resorts‘ mid-pandemic reopening protocol. Maddox said that (amazingly) University Medical Center facilities “don’t have enough people to test. So I’ve signed a deal with them to allow all Wynn employees to get tests, anytime for free, and they’re going to set up on-site testing … So we’re ready and I’m encouraging our state that we need to begin a phased approach and get back to business.” Maddox has been busy in his unwonted spare time and has his own ideas about how Nevada should resume activity (which are rather antsier than Gov. Steve Sisolak‘s). First, reopen small restaurants, retailers, and golf and tennis courts this week, and use those as guinea pigs for whether Covid-19 cases increase. “If we’re inside those benchmarks in three weeks, then on Memorial Day I would hope that Continue reading →

Posted in Alex Meruelo, Caesars Entertainment, Culinary Union, Economy, GLPI, Health, Reno, South Korea, Sports, Stanley Ho, The Strip, Wynn Resorts | 2 Comments

Quote of the Day

Posted on May 1, 2020 by David McKee

‘I think sometimes what I feel is better than what I think, unfortunately or fortunately.”—Donald Trump, on economic recovery.

Posted in Donald Trump, Economy | 3 Comments

Fauci on sports; Churchill Downs “on track”

Posted on April 30, 2020 by David McKee

Bad news, sports bettors. Given the absence of widespread testing for Coronavirus, Dr. Anthony Fauci is backpedaling on his projections that professional sports could resume this year. (As Fauci has said elsewhere, a model is just a model; when you get new data it changes.) “If you can’t guarantee safety, then unfortunately you’re going to have to bite the bullet and say, ‘We may have to go without this sport for this season,’” Fauci told the Boston Globe. National leaders are in various states of aggressiveness on this issue, ranging from New York Gov. Andrew Cuomo (yes), California Gov. Gavin Newsom (maybe) to Los Angeles Mayor Eric Garcetti (no). “If we let our desire to prematurely get back to normal, we can only get ourselves right back in the same hole we were in a few weeks ago,” Fauci told the Globe, adding that major leagues would have to be prepared to respond were there a new spike in Covid-19 cases.

Fauci’s nostrums for resumption of sports include: Continue reading →

Posted in Australia, Baseball, Churchill Downs, Crown Resorts, Economy, GameCO, Health, International, Internet gambling, Kentucky, Lawrence Ho, Lotteries, Marijuana, Massachusetts, Melco Resorts & Entertainment, Missouri, Nevada, Pennsylvania, Regulation, Scientific Games, Sports, Technology, Wall Street, Wynn Resorts | 2 Comments

Vegas: Welcome to the new normal

Posted on April 30, 2020 by David McKee

Phil Ruffin may have jumped the gun with that May 15 reopening date for Treasure Island. Gov. Steve Sisolak (D), without specifying a quarantine-lifting date, has extended a modified version of the Nevada lockdown into May. “We just have not reached exactly where we want to get in the downward trajectory. Our statistics have plateaued,” said Sisolak on Good Morning America. At present, the Silver State has just shy of 5,000 Coronavirus cases and 248 deaths. On the flip side, hospitalizations and ICU use are declining, according to the governor. He also threw a bone to the retail industry, easing some restrictions on how it can do business. However, there’s little comfort here for the gaming industry, which would probably be wise to follow Wynn Resorts‘ lead and presume that business will return to some (pallid?) sense of normality around Memorial Day. In a surprisingly radical piece, the National Review questions whether it is feasible—or even sane—to reopen even a circumscribed Strip.

Las Vegas Sands has one-upped Wynncore with an 800-step (!) reopening protocol that includes multiple temperature checks (if you flunk the first, you get Continue reading →

Posted in Aristocrat, California, Downtown, Downtown Grand, Health, International, Las Vegas Sands, Macau, MGM Resorts International, Nevada, Phil Ruffin, Regulation, Sociedade de Jogos de Macau, Technology, Tribal, TV, Wynn Resorts | 1 Comment