Saying her city “cannot survive” a month-long shutdown, Las Vegas Mayor Carolyn Goodman (D) wants Gov. Steve Sisolak (D) to drastically reduce his 30-day casino closure. We admire Goodman normally but think she’s out of her depth here or, as a veteran travel-magazine editor put it, flying “totally in the face of good sense and reason.” Goodman should let Sisolak’s quarantine run its course. Even Rep. Dina Titus (D), who constituency is the Las Vegas Strip, writes, “Avoid social gatherings of 10 people or more.” Speaking of Las Vegas, some of the best restaurants—such as Marché Bacchus—are hanging tough, offering take-out and curbside dining. Here’s a list in progress.
* Someone else who doesn’t seem to get it—and who appears to think that it’s the federal government’s prerogative (which, thankfully, it isn’t) to close and reopen casinos is Continue reading
repurchases (good) and cutting dividends, the company is 
people safe.” So said Maryland Gov. Larry Hogan (R) on Sunday, ordered the indefinite closure of the Free State’s seven casinos. Cordish Gaming CEO David Cordish tried to push back, complaining that bars, restaurants, etc. remained open as his Maryland Live went dead. Cordish’s myopic push backfired, as Hogan simply extended the closings to more public venues. When business does return to some semblance of normal, Maryland casinos give us an idea of what we can expect: fewer seats at table games, fewer slots.
investors to “stay neutral,” lowering his price target from $19/share to $15. Noting a plunge (63%) in 2020 equity, Greff wrote, “Unfortunately, GDEN‘s 4Q report does not matter much in the current environment of volatility and uncertainty.” The company “said its properties are seeing mostly normal levels of activity and are by no means ghost towns, and that no closures are currently planned. The Strat has been performing well (it was sold out just this past weekend), and GDEN looks forward to operating the property without any construction disruption over the coming year.” It added that it was looking at slot routes in Pennsylvania and Missouri.
to gaming advisor Cory Morowitz about the 
window. Finally displaying some leadership, Nevada Gov. Steve Sisolak (D) 
Casino CEOs have no shame. They are capitalizing on the Coronavirus crisis to go to Congress, palms extended, cadging for a bailout. In an outrage-inducing story in today’s Washington Post, it is reported that the gaming industry’s wish list includes:
made at Encore Boston Harbor, with 61% market share. MGM Springfield grossed $22 million and Plainridge Park scooped up the remaining $12 million (14% market share). Win per day at Encore was $1.8 million, more than double MGM. That has to pass for good news, as the Massachusetts Gaming Commission, one of the most activist in the country, voted to suspend casino operations on March 14, a decision it will reassess in two weeks.
temporary-ness, MGM Resorts International‘s being the most radical.) Meanwhile, the damage continues to radiate through the regional gaming industry. 
the impact upon sports betting looks to be deep and dire. Last March, Nevada casinos saw $499 million in handle and $39.5 million in revenues with $349 million of that estimated to have been bet on March Madness—which has been scrapped this year. In New Jersey it was $106 million handle and $10 million revenue. If any other marquee sports events are played, it will not be for months. This causes complications for bettors who already had skin in the games. Disaster set in too quickly for nascent markets like Michigan and Illinois to have been greatly affected but it will be quite another story in established territories.
—many are—but others are being forced to close or making the difficult choice to go dark on their own. Shareholders won’t like it but it shows courage. (Points to remember about an adjustment reaction: “It is automatic. It comes early. It is temporary.”) Said an S&G source, “It’s crazy here in Las Vegas. We are literally competing to get food. It’s ridiculous. The food bank said they may lock our area down as we are right behind the Strip. All store deliveries stopped. All store pickup stopped with a few exceptions. Can’t find [toilet paper] period. I’ve never seen anything like this.”
sporting and cultural events (here and abroad) comprise a list longer than our arm. Larry “Airtight” Kudlow says that Americans are panicking but he’s been wrong about Covid-19 so many times before that now we actually do feel the temptation to panic. But it’s a passing thought. Despite some mitigation efforts observed by S&G sources and readers like Mike Zidik (thanks, all of you), the casino industry has been hanging tough. While it has to answer to state authorities in most cases (Florida being a