Quote of the Day

“Don’t you feel fear? Don’t you agree that fear exists in any society at any time?”—Soviet Union survivor Irina Shostakovich, speaking in Chicago.

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XFL bets taken; Mohegan Sun, Hard Rock clash; Straub arrested

New Jersey has allowed betting on the XFL, the sixth state to do so. But does anybody care? The league hopes that sports betting will spark fan interest in the games. MGM Resorts International already got burned by the Alliance of American Football, which collapsed midway through its inaugural season. (Says gaming reporter Wayne Parry, “Betting on those games was likened by several sports books to the level of some mid-to-lower tier college games.”) Hey, we told Jim Murren that putting money into the AAL was like betting on a three-legged horse. Will any casino companies want skin in the game of the XFL, which played one season in 2001 to passionate disinterest from football fans?

* Mohegan Gaming & Entertainment is moving forward with its Grecian megaresort, newly titled Inspire Athens (pictured, cost as yet undisclosed). However, Hard Rock International is not taking its rejection lying down. Citing what have described as “rather bizarre” criteria for its rejection, Hard Rock describes the government’s preference for the Mohegans as “absolutely laughable.” (Would this be tribe-on-tribe violence?) Provided it files an official appeal, as appears certain, Hard Rock will Continue reading

Posted in Australia, Glenn Straub, Hard Rock International, International, James Packer, Law enforcement, Lawrence Ho, Lotteries, Melco Crown Entertainment, MGM Resorts International, Mohegan Sun, Money laundering, New Jersey, Pennsylvania, Sports, Sports betting | Comments Off on XFL bets taken; Mohegan Sun, Hard Rock clash; Straub arrested

Year of the Rat off to bad start; NLRB spanks Station; JoBro!

Coronavirus has reared its ugly head in the United States, the second case being of a Chicago woman who started manifesting symptoms several days after returning from China. Reports the Boston Globe, “Doctors with the Centers for Disease Control and Prevention say the woman is hospitalized to prevent spread of the virus and is doing well, and people she had close contact with are being monitored.” Since coronavirus has a two-week incubation period we may not know the extent of the threat until it is too late. (Where’s a government-imposed travel ban when we really need one?) The CDC says the risk “remains low” but Chinese authorities felt the same way and are now canceling Chinese New Year Eve events in Macao. Speaking of which …

Could there be any worse way for gambling’s capital city to Continue reading

Posted in China, Culinary Union, Entertainment, Health, history, Illinois, Macau, MGM Resorts International, Station Casinos, The Strip, Wall Street | Comments Off on Year of the Rat off to bad start; NLRB spanks Station; JoBro!

Quote of the Day

“Right now the American people are tuned out. Because, honestly, what’s happened with impeachment and everything else, they’ve shut down. They’re enjoying the Super Bowl. They’re watching football games. Enjoying this country’s great economy. They’re not sitting around watching this stuff.”—Brad Parscale, campaign manager for Donald Trump, appearing on Fox News.

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Macao prepares for the worst

Even as coronavirus tiptoed into Macao, casino executives from three companies were bullish on 2020. Their confidence was buoyed by the change of course of one of China‘s biggest economic headwinds, its trade
war with the U.S. Some are arguing that Donald Trump didn’t get what he wanted out of the deal but this nonetheless looks like it will put wind at Macao’s back (so maybe Sheldon Adelson should pen a thank-you note to the White House), maybe enough even to halt the slide in VIP gamblers. Gaming execs, though, are hedging their bet by placing their hopes on the mass-market segment. China’s economy grew 6% last year, so that too augurs well for the Macanese casino empire. “All these are very positive factors,” said Ambrose So of Sociedade de Jogos de Macau. So was upbeat on the mass market, which accounts for 60%-plus of SJM’s revenues, but had few expectations regarding VIPs.

Sands China prexy Wilfred Wong thinks VIP will remain weak but Continue reading

Posted in Donald Trump, Health, Las Vegas Sands, Macau, MGM Resorts International, Sociedade de Jogos de Macau, Technology, The Strip | Comments Off on Macao prepares for the worst

Draft Day is coming; Station rebounds

As you know, the next NFL draft will be continued on the Las Vegas Strip. The official plan has been released and we don’t know whether to be impressed or to laugh. In what has to be the most fey NFL event ever, the announcements will be made from a stage in the middle of the Bellagio lagoon (yes, a floating stage), with chosen players being ferried to the podium—any chance Sheldon Adelson will loan them some gondolas?—to receive their ceremonial jersey. The Clark County Commission has yet to approve this hilarious and campy concept although we’re sure they’ll play ball, so to speak.

Even if it was held in a broom closet, the NFL draft promises to be a tourism boon to Continue reading

Posted in Atlantic City, China, Entertainment, Genting, Indiana, Japan, Macau, Movies, New Jersey, Palms, Sports, Station Casinos, The Strip, Transportation, Wall Street | 1 Comment

Quote of the Day

“The move reflects a mindset that believes African Americans and other races can’t govern and don’t have the backbone or the courage to fight.”—Atlantic City Mayor Marty Small, on a petition drive to eliminate his job.

Posted in Atlantic City, Politics | 1 Comment

Raiders need elbow room; Casino mega-scandal in Canada

Although the Las Vegas Raiders haven’t officially set up shop in Sin City already they’ve got a problem: parking. The team has had to pony up an additional $50 million to buy land on which fans can park, tailgate, etc. And that still isn’t enough, according to the Las Vegas Sun. “For patrons coming to a game, we need about 9,500 spots,” said Raiders President Marc Badain. “For staff and support staff workers, we need about 2,500 spots. We’ve identified as many as 30,000 spots in the immediate vicinity, most of which are within walking distance. We have in our control 15,000 spots already.” That leaves them only … oh, 15,000 spots short. The team is currently dickering with landowners in the vicinity of Allegiant Stadium, hoping to buy or lease more blacktop.

“There’s still a few thousand spots west of the stadium that are up for grabs. There’s a lot of Continue reading

Posted in Caesars Entertainment, Canada, Las Vegas Raiders, Law enforcement, Macau, MGM Resorts International, Regulation, Sports, The Mob, The Strip, Transportation | Comments Off on Raiders need elbow room; Casino mega-scandal in Canada

Power play in Springfield; Packer faces impeachment

We had a gut feeling this was coming. MGM Resorts International CEO Jim Murren has given the sack to MGM Springfield President Michael Mathis, replacing him with MGM Northfield Park prexy Chris Kelly. Northfield Park hasn’t missed a step since being taken over from Hard Rock International and continues to lead Ohio in gambling grosses despite the seeming handicap of having no table games. Mathis, who had shepherded MGM Springfield to completion, had little answer for its subsequent revenue struggles other than happy talk. Last month, when Encore Boston Harbor was reporting best-ever revenues MGM Springfield announced its worst. So much for casino resorts taking time to ramp up. Boston College casino expert Richard McGowan blamed Mathis for his own demise, saying he “was much more focused on gambling, period. Clearly, if Springfield is going to make it, they’ve got to somehow, one way or another, make themselves much more of an entertainment center than a gambling center. I would imagine MGM figured they had to bring in somebody new to do that.”

Added McGowan, “Let’s face it, you have Encore announcing they just had their best month, period, and Springfield just Continue reading

Posted in Australia, China, Connecticut, Crown Resorts, International, James Packer, Japan, Law enforcement, Lawrence Ho, Macau, Massachusetts, Melco Resorts & Entertainment, MGM Resorts International, Money laundering, New Jersey, Ohio, Stanley Ho, The Crown 18, The Mob | Comments Off on Power play in Springfield; Packer faces impeachment

Quote of the Day

“The Earth is degenerating today. Bribery and corruption abound. Children no longer obey their parents, every man wants to write a book, and it is evident that the end of the world is fast approaching.”—Assyrian tablet, ca. 2800 B.C.

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Quote of the Day

“Let’s be honest, it was a difficult part. A guy who gets high, takes his shirt off and doesn’t get on with his wife. It was a big stretch.”—Brad Pitt, accepting his Best Supporting Actor award from the Screen Actors Guild. Pitt won for his performance in Once Upon a Time in … Hollywood.

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Gaming caucus rebooted; Allen sends mixed message to Atlantic City

You’d think a $261 billion/year industry would get some props on Capitol Hill but gaming is the exception to the rule. Thankfully, Rep. Guy Reschenthaler (R) and Rep. Bennie Thompson (D) are trying to breathe new life into the comatose Congressional Gaming Caucus. Reschenthaler is from Pennsylvania, Thompson from Missouri, two states where casinos are major players. Nevada is, as you might expect, well-represented with Rep. Mark Amodei (R), Rep. Steven Horsford (D) and Rep. Dina Titus (D) all in the caucus. (Poor Susie Lee [D] gets left out in the rain.) The GOP needs to show more love for Big Gaming, though: only Continue reading

Posted in Atlantic City, DraftKings, Hard Rock International, International, Movies, New York, Politics, Regulation | 2 Comments

Resort fees look ominously permanent; Goodbye, Hard Rock Hotel

Las Vegas is “a market notorious for some of the highest resort fees anywhere.” So writes Hotelsmag.com’s Juliana Shallcross. Big Gaming needn’t be too worried: The Hotel Advertising Transparency Act of 2019 has gone absolutely nowhere in the supposedly liberal House of Representatives, proving that Democrats are as beholden to bidness interests as they accuse Republicans of being. So casino-hotels will be able to go on stashing fees for the “use” of that gym you didn’t visit or for the in-room phone you didn’t pick up or even for the ‘free’ newspaper you didn’t read, let alone request. As you are undoubtedly aware, the casino industry’s favorite revenue-capture tactic of the day is to advertise low room rates, then smack you upside the head with outlandish resort fees once you’ve closed the deal.

Not everybody in the industry thinks this is smart or good business. R.W. Baird Senior Research Analyst Michael Bellisario says “it’s more about a level playing field. Customers will be Continue reading

Posted in Architecture, Baseball, California, Columbia Sussex, Economy, Florida, Hard Rock Hotel, history, International, Politics, Regulation, Resort fees, Seminole Tribe, Sports betting, Taxes, Technology, Virgin Hotels | 1 Comment

Eldorado gets one state closer; Banditry in Arizona

Check Louisiana off the list of states giving the thumbs-up to the Eldorado Resorts takeover of Caesars Entertainment. CEO Tom Reeg had to assure regulators that the company would invest $500 million (there goes that highly touted half-billion cost savings) in the Pelican State if approved. That includes redoing all-but-defunct Belle of Baton Rouge “a venue so decrepit the gaming boss wouldn’t even stay there during his recent visit,” reports Casino.org. We’re glad of anything that lights a fire under Reeg to upgrade that casino, which generates negligible revenue.

* A gaggle of dirty tricksters in the Arizona Lege are trying to hold tribal gaming compacts hostage Continue reading

Posted in Arizona, Atlantic City, Australia, Caesars Entertainment, California, Carl Icahn, Cretins, Donald Trump, Eldorado Resorts, Japan, Louisiana, Mandalay Bay Massacre, Melco Resorts & Entertainment, Penn National, Pennsylvania, Politics, Regulation, Tribal | 2 Comments

Quote of the Day

I do not think of political power as an end. Neither do I think of economic power as an end. They are ingredients in the objective that we seek in life. And I think that end of that objective is a truly brotherly society, the creation of the beloved community.”Dr. Martin Luther King, Jr., whose birthday we celebrate today.

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Casinos seen as gold mine, get the shaft; Oscar odds out

Whenever it’s time to consider a tax increase in Nevada, non-gaming businesses can look forward to continued freeloading. Case in point, the PAC calling itself Nevadans for Fair Gaming Taxes (and what’s unfair about Nevada’s casino tax?) are mounting a petition drive to stick it to Big Gaming once more. The goal is to raise an additional $135 million in revenue and the Clark County Education Association is behind this. Now the Silver State could add a few increments to its 6.75% gaming tax and still have the lowest in the nation. But why should it? Why is it that gaming always gets the shaft when taxes must be upped. With gambling representing an ever-smaller chunk of overall casino revenues, the teachers may be putting their money on the wrong horse. Besides, then-Gov. Robert List‘s infamous “tax shift” that placed the state’s economic stability on gaming and sales taxes is, in the words of columnist Steve Sebelius, a model “designed to fail in hard times.”

The casinos take this stoically but if you even whisper a rumor of a hint of a possibility of Continue reading

Posted in Election, Maine, Mississippi, Movies, Nevada, New Jersey, Oklahoma, Taxes, Tribal, Virginia | 1 Comment

Quote of the Day

“The revenue increase is a positive. Right now the industry should be in ‘grow-the-market’ mode rather than seeking to consolidate profits, so a decrease in profits isn’t necessarily the worst news we could get. Overall, what Atlantic City needs right now is to improve its image and marketing and become a destination in a crowded Northeast casino market.”—Roll the Bones author David G. Schwartz on a 15% increase in Atlantic City casino revenue (and a narrowing of operating profit), the best numbers in eight years.

Posted in Atlantic City, Economy | 3 Comments

Springfield: The boss hits town

After a worst-month-ever December at MGM Springfield, company CEO Jim Murren has apparently had enough. He flew into Springfield today to put a bit of stick about, as the Brits would say. His ostensible purpose is to hang out with the Boston Red Sox, not that being seen with a bunch of cheaters is the world’s greatest PR idea. His new business plan is to emphasize events: more comedy acts, more concerts, more sports … more things other than gambling. He’s basically waving a white flag at Foxwoods Resort Casino and Mohegan Sun, tacitly admitting that seasoned gamblers aren’t going to change their playing habits easily (if at all).

“We know that we need to drive a more consistent entertainment calendar in order to gain more consistent growth in gaming revenue,” Murren told the Boston Globe. Noting the speedy revenue growth of Continue reading

Posted in Baseball, Boyd Gaming, Caesars Entertainment, Churchill Downs, Eldorado Resorts, Entertainment, GLPI, history, Louisiana, Maryland, Massachusetts, MGM Resorts International, Movies, Penn National, Sports, Sports betting, The Strip | Comments Off on Springfield: The boss hits town

Mohegan Sun in, Hard Rock out; Hoosiers crave sports betting

In a shocking upset, “a source close to the matter” reports that Hard Rock International has been turned down for the Hellenikon megaresort development in Greece. That means the winning bidder is Mohegan Sun. Hard Rock was apparently faulted both for its thinner construction track record and its financing. (Mohegan Sun’s current megaresort experience in South Korea could hardly have hurt its cause.) How huge is this news? Mohegan Sun stands to win a 30-year operating contract, plenty of time in which to recoup its investment. The casino must have at least 120 tables and 1,200 slots—but Mohegan Sun likes to think big, so we expect much more. Hard Rock has 10 days to appeal.

* The Reno Gazette-Journal confirms an earlier report that Harrah’s Reno is being sold to Continue reading

Posted in Architecture, Caesars Entertainment, Economy, Eldorado Resorts, Hard Rock International, Indiana, International, Iowa, Lake Tahoe, Louisiana, Macau, Mohegan Sun, Pansy Ho, Reno, Sheldon Adelson, Sports betting, Transportation, Wall Street | 2 Comments

Encore owns Massachusetts; Harrah’s Reno (almost) sold

Massachusetts gaming-revenue numbers are out and Encore Boston Harbor is the story. It’s got 65% market share and $1.75 million casino win per day. MGM Springfield is far behind, with 19% market share and 600 dimes win per day, with Plainridge Park bringing up the rear with $330K daily win. Plainridge Park’s $10 million haul represented a devastating 27.5% falloff, as it is caught in a pincer between Twin River in Tiverton and Encore. Players were obviously staying away, as handle was down 22% despite an impressive win/slot/day of $274. Also slipping at the slots was MGM, down to $176/win/slot/day, for a gross of $14 million, a dip of 2.5%. MGM had a terrible month at the tables, toppling 30% to $5 million.

Encore, by contrast, grossed $54 million, with only Continue reading

Posted in Caesars Entertainment, CityCenter, history, Kansas, Louisiana, Massachusetts, MGM Resorts International, Missouri, Oklahoma, Penn National, Problem gambling, Reno, The Strip, Twin River, Wall Street, Wynn Resorts | Comments Off on Encore owns Massachusetts; Harrah’s Reno (almost) sold