Donald Trump wants to reopen America for business May 1, come hell or high water. Former Atlantic City casino executive Robert Ambrose acknowledges that “going past 30 days [quarantine] is scary for the entire 
industry.” According to Ambrose, it ought to be especially frightening for stand-alone properties (he cites Mt. Airy in Pennsylvania). “Hopefully this can be right-sided pretty quickly, but the virus is a moving entity. We’re seeing the worst of it now in New York and North Jersey, but other states could be coming into the pipeline two to three weeks later, so casinos in those jurisdictions will be down longer and coming back online later,” he tells Global Gaming Business.
The upside, for some casinos anyway, is that people may play at Parx Casino or Rivers Philadelphia instead of making the Continue reading
casinos together. The famous casino Strip by CityCenter keeps on being the busiest place on earth. However, what makes Las Vegas so attractive to visitors? Have you ever thought about casinos and their live shows, which sometimes are a lot better than the ones you see elsewhere? Can you imagine Las Vegas as the top world tourist destination without its famous casinos?
strange move. Boyd’s board will go without pay during the hiatus, while executives are taking pay cuts (and some furloughs). The Cosmopolitan of Las Vegas was somewhat more clement, extending pay for full-time and some part-time employees through next week. Their health benefits will also last until June 30. Earlier this week, MGM Resorts Entertainment announced a glitzy roster of entertainer-contributors (Hans Klok!) to its Employee Emergency Grant Fund, set up for the company’s 60,000 idled workers. Conspicuously absent from the donors: Cirque du Soleil, which has a clown’s nose full of problems of its own.
uniform so there’s no point in dwelling on them: Hollywood Toleldo $7 million (-61%), Hollywood Columbus $8.5 million (-61%), Jack Cleveland $7.5 million (-62%), Hard Rock Cincinnati $7 million (-64%), MGM Northfield Park $9.5 million (-61%), Scioto Downs $7 million (-60%), Jack Thistledown $5.5 million (-57%), Miami Valley Gaming $6.5 million (-62%), Belterra Park $3 million (-61%), Hollywood Dayton $4 million (-61%) and Hollywood Mahoning Valley $5 million (-59.5%). Better luck this month.
million range. The company is spending between $70 million and $80 million (God bless it) to keep employees paid from April 1 to May 15. Most of the cash is in Macao but JP Morgan analyst Joseph Greff heavily implies it can be tapped to cover domestic costs. Counting interest ($500K/day), it cost Wynn $3 million per day to keep its casinos shuttered during the 15-day lockdown in Macao. “While properties are opened, they continue to operate under extremely challenging conditions, and until such measures are lifted, WYNN expects to ‘continue 
Administration and Secretary of the Treasury Steve Mnuchin, to take his case straight to Donald Trump. The problem, 
Hornbuckle’s background in casino operations (former MGM COO and long-tenured LV Strip operator), something we think is critical given the current operating environment.” We agree. MGM’s four key priorities—in descending order—are A) more real-estate transactions, B) “increasing exposure in Asia,” C) more sports betting and D) extra “operating efficiencies,” Wall Streetspeak for “cost cuts.” “Looking ahead, MGM will look to refocus on what is core to running the business (i.e., MGM is a gambling business, not an entertainment business),” which sounds like a dramatic shift of direction to us. For the moment, MGM is trying to figure out how to burn through less cash while being 
stabilizing and showing improvement,” Stifel Financial analyst Steven Wieczynski says. ‘Impaired’ is putting it nicely. If you’re returning from Macao through infected Guangdong Province, you face a 14-day quarantine upon returning home, which could send Macanese tourism into even more of a tailspin. Also, unless you have a visa predating the February shutdown (since lifted) or a business one, 
fallen back on 
trying to determine the impact this crisis will have on sales and share prices, let me say our job as business leaders is now as simple as it is challenging. It is to maximize the number of employees and their families that we can help–and help them for as long as possible.”—Las Vegas Sands CEO Sheldon Adelson, in a letter to the New York Post.