Quote of the Day

“A government that is strong because it is free, and confident because it is just, has nothing to fear in granting refuge to exiles.”—Alexander von Humboldt

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‘Wynn-wash’ in Boston; MGM, Sahara soak customers

Encore Boston Harbor President Robert DeSalvio gives us the nitty-gritty (emphasis on gritty) of developing the Massachusetts megaresort. For instance, I’ll bet you didn’t know Wynn Resorts rented 600 railroad cards to—repeatedly—haul arsenic-tainted soil from the site, trucked off to Georgia, among other unfortunate recipients. Speaking of railroads, DeSalvio gently pushes CEO Matt Maddox under the train, saying that his (DeSalvio’s) focus at the time of the attempted sale to MGM Resorts International was entirely on opening Encore … and on propping up employee morale.

DeSalvio’s biggest previous accomplishment was opening Sands Bethlehem and it’s probably fair to say he Continue reading

Posted in Architecture, Cretins, Detroit, Downtown, Entertainment, Environment, Hard Rock Hotel, Iowa, Las Vegas Sands, MGM Resorts International, Nebraska, Nevada, Palms, Penn National, Pennsylvania, Resort fees, Sahara, Sports betting, Station Casinos, Technology, Terry Caudill, Transportation, Wynn Resorts | Comments Off on ‘Wynn-wash’ in Boston; MGM, Sahara soak customers

Quote of the Day

“Protests have become more violent and tense, heightening uncertainty over how all this will end. The impression among mainland Chinese that Hong Kong is not a pleasant place to travel, or even work or go to school, could be more lasting and that will deal a substantial blow to the local economy.”—Philip Tse, associate director at Bocom International, on the financial fallout from long-running unrest in Hong Kong.

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Terrorism at Trump; Police blotter

Trump International finally made it back into the news, although not in a good way. WSOP player Kenneth Strauss was arrested there on July 27 after allegedly tweeting terroristic threats, among other malfeasances. Strauss’ reign of error began at Red Rock Resort, where he was accused of pedophilia out by the hotel pool. He was 86’d and repaired to the president’s place, where the security director “was monitoring Strauss closely.” Strauss then caromed over to The Venetian, where he was reported as threatening to kill himself or anyone who came near. The police missed Strauss there but caught up with him back at Trump Int’l.

In the meantime, his Twitter account had been busy, with such endearments as  Continue reading

Posted in Baseball, Donald Trump, Florida, Genting, Internet gambling, Japan, Las Vegas Sands, Law enforcement, MGM Resorts International, New York, Ohio, Philippines, Sports betting, Station Casinos, The Strip, Vietnam, Wall Street, World Series of Poker | 1 Comment

Furor in Illinois; ‘Carmageddon’ in New Jersey

Charles DeGaulle was famous as The Man Who Said No. That nickname may have to be reassigned to Churchill Downs CEO Bill Carstanjen. His decision not to seek racino status for Arlington International Racecourse has set the Illinois gaming industry and political establishment on its ear. “We can’t make this work,” he said of the “financially untenable” Illinois Gaming Act. Why? One of the reasons is a tilted playing field: Racinos would have to pay a substantial surtax, to fatten racing purses, a requirement not imposed on casinos. Arlington Heights Mayor Tom Hayes, while generally conciliatory, noted that Churchill Downs probably didn’t want to compete with itself at nearby Rivers Casino Des Plaines, of which it owns 61%.

The Illinois Thoroughbred Horsemen’s Association was not so amicable. It pointed out that Arlington had been Continue reading

Posted in California, Churchill Downs, CityCenter, Cosmopolitan, Horseracing, Illinois, International, Marijuana, MGM Resorts International, New Jersey, Politics, Racinos, Rush Street Gaming, Sports betting, Taxes, Tourism, Transportation | 1 Comment

Quote of the Day

“The consumer is now carrying all of the weight, or much of the weight, for growth going forward. One thing, though, about consumer spending that you have to be careful about is it’s not really a leading indicator.”—Federal Reserve Bank of New York President John Williams.

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This just in …

Osaka and Tokyo are the world’s fourth- and seventh-most livable cities according to the Economist Intelligence Unit. (Tops is Vienna.) This is great news for casino companies like Las Vegas Sands and MGM Resorts International that want to set up business in Japan and, specifically, in those cities. “The upsides of these cities tend to be fully realized. You get a good collection of cultural activities, you get good access to healthcare and education. But you don’t get a lot of downsides that tend to come with big cities, things like traffic congestion, crime problems and general wear and tear,” explained Continue reading

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Stitt, tribes: “You first”; Sports betting blocked in Maine

Although he said that “we table the issue of the renewal or termination date of the exiting compact, and use our time more productively by focusing on coming to a shared vision of gaming in Oklahoma for the future,” Oklahoma Gov. Kevin Stitt‘s spokeswoman says the governor has not budged either on the issue of compact expiration nor on raising exclusivity fees. Tribes responded, acknowledge that our compacts automatically renew and then we’ll talk.

Tribes even allow there’s a case to be made for higher fees. The fees range from Continue reading

Posted in Las Vegas Raiders, Maine, Mandalay Bay Massacre, MGM Resorts International, Oklahoma, Real Estate, Sports, Sports betting, Taxes, The Strip, Tribal | Comments Off on Stitt, tribes: “You first”; Sports betting blocked in Maine

Quote of the Day

“If you haven’t been there to find these two boats, you need a map and a compass, because they are really hidden in a very remote location.”—Spectacle Entertainment General Counsel John Keeler, on the cons of Spectacle’s two Majestic Star riverboats.

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Sports betting: Survey says …

Trying to help the gaming industry get its arms around the onslaught of sports betting, Eilers & Krejcik Gaming did a consumer survey of the newly legitimate recreation. “For all of the hype surrounding the spread of regulated sportsbooks, there’s still a massive amount of ambiguity around how Americans will actually interact with legal sports betting,” said agency co-director Chris Grove. Eilers & Krejcik surveyed 3,000 people, covering “hundreds of data points” on the sports betting issue.

For instance, 93% of respondents had bet on the NFL at some point in the past year. Only 45% are
Continue reading

Posted in Arkansas, DFS, Environment, Lotteries, Macau, Massachusetts, MGM Resorts International, Sports betting, Tribal, Wall Street, Wynn Resorts | Comments Off on Sports betting: Survey says …

Honeymoon over in Massachusetts; Drive like Elvis

Encore Boston Harbor has been open only two months. MGM Springfield just passed its one-year anniversary. And yet, the Boston Globe is already tossing around the ‘S’ word—saturation. Saying that casino executives might not like hearing it, the paper rejoined, “They had better get used to it.” University of Texas-Rio Grande Valley professor and casino boffin Clyde Barrow said the saturation mark is hit when slot revenues fall below $200 win/slot/day on average. MGM Springfield has been below that metric for two months, which both Encore and Plainridge Park exceed, the latter quite easily.

The Globe projects Encore to bring home $600 million in Year One, well short of Wynn Resorts‘ $800 million prediction. MGM’s woes have been Continue reading

Posted in AGA, Arizona, Caesars Entertainment, California, Economy, Entertainment, history, Massachusetts, MGM Resorts International, Mississippi, Penn National, Rhode Island, Transportation, Wynn Resorts | Comments Off on Honeymoon over in Massachusetts; Drive like Elvis

Tilman’s lucky break; Del Lago sold

Atlantic City‘s Golden Nugget has been on the outside of NBA betting, looking in. But that may change if Gov. Phil Murphy (D) signs what might be called the ‘Tilman Fertitta Act.’ It would allow the Nugget to take bets on any NBA games that don’t involve Fertitta’s Houston Rockets. In essence, the bill “would permit anyone who owns 10 percent or more of a professional sports team to accept bets on games within their league, as long as it doesn’t include the team they own.” Those are the same rules under which Tilman rolls in Las Vegas. They passed out of the New Jersey Lege with only one vote recorded in opposition.

We don’t know if the lack of NBA affiliation hurt the Nugget’s sports book but it sure Continue reading

Posted in Atlantic City, Economy, Internet gambling, New Jersey, New York, Philippines, Politics, Sports betting, Tilman Fertitta | Comments Off on Tilman’s lucky break; Del Lago sold

Sports betting vexed in Massachusetts; Start spreading the news, they’re leaving today—and how!

Don’t expect sports betting in Massachusetts: Not now, maybe never. Why? Two words: Rhode Island. That state counted on $23 million in tax revenue from sports wagers—a ludicrous figure—and got $2 million. Bay State lawmakers are not only sobered by the dose of economic reality, they can’t decide whether to allow betting on collegiate sports, whether to run online betting through the state lottery and how to shut down the illegal betting market, among other concerns. It’s a tough task the Lege has set itself. As state Sen. Eric P. Lesser (D) told the Boston Globe, “But if a bill moves forward, it needs to be carefully crafted.”

MGM Springfield prexy Michael Mathis, citing other jurisdictions, says the presence of sports betting lifts Continue reading

Posted in Arizona, Connecticut, Economy, Environment, Florida, Las Vegas Raiders, Massachusetts, MGM Resorts International, Nevada, New York, Politics, Problem gambling, Rhode Island, Sports, Sports betting | Comments Off on Sports betting vexed in Massachusetts; Start spreading the news, they’re leaving today—and how!

No Japan for Caesars; Colorado to get bigger Ass

Gary Loveman‘s decision to pass on Macao will be remembered as the worst decision of his tenure at Caesars Entertainment. Will CEO Anthony Rodio‘s withdrawal from contention in Japan be similarly second-guessed? The decision saves Caesars at least $10 billion at a time when it will soon be strapped for cash, due to its merger with Eldorado Resorts. It also enables Caesars to get clear before the very slow and formal application process gets underway. There is as yet no casino control commission nor any clear directive on how sites and applicants are to be selected. Wall Street reacted positively to the news, inching CZR stock higher.

Eldorado Resorts might want to take up the dropped gauntlet on its own … Continue reading

Posted in Caesars Entertainment, Colorado, Eldorado Resorts, Full House Resorts, history, Japan, Macau, Sports betting, Wall Street | Comments Off on No Japan for Caesars; Colorado to get bigger Ass

Cherokee go to D.C. (maybe); Ivey cleaned out

Native American tribes have a hard time being heard in Washington, D.C.  So it was past time that the Cherokee Nation took advantage of a treaty provision two centuries old and nominated a delegate to our nation’s capitol. The actual decision hasn’t been made but the tribe is mulling it more seriously than at any time previous. “Over 184 years ago, our ancestors bargained for a guarantee that we would always have a voice in the Congress. It is time for the United States to uphold its end of the bargain,” proclaimed Principal Chief John Hoskin Jr. (We agree.) If it does, the 300,000-strong Cherokee would join Puerto Rico, American Samoa, Guam, Northern Mariana Islands, and the Virgin Islands in have delegates who can vote in committee but not on the floor.

Hoskin’s choice, Kim Teehee, has Washington experience from her time in Continue reading

Posted in Atlantic City, California, Dining, Economy, history, Iowa, Las Vegas Sands, Law enforcement, MGM Resorts International, Oklahoma, Penn National, Politics, Regulation, The Strip, Tourism, Tribal, William Hill, World Series of Poker | 1 Comment

Quote of the Day

“It is impossible to govern a country with 280 kinds of cheese.”—Charles de Gaulle

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Baccarat hamstrings the Strip

July would have been a good month for the Las Vegas Strip were it not for a wipeout at baccarat: down 26% on 15% less wagering, so luck was definitely not with the house. Overall, Strip revenues were up 1.5% ($542 million). Part of that was driven by good slot winnings, 6.5% higher on 5.5% more coin-in. Table games other than baccarat rose 5% on 6.5% higher wagering. Downtown ($52.5 million) jumped 7.5%—this market has made a really impressive comeback—while North Las Vegas was flat at $27 million. The Boulder Strip ($82 million) grew 4% and miscellaneous Clark County had a 3% uptick to $103.5 million. Laughlin bounced 6% to $44 million, Lake Tahoe vaulted 17% to $35 million and Reno picked up a percentage point to finish at $57 million.

Helping to drive the southern Nevada numbers was a record July number of air passengers trekking through McCarran International Airport. This is only the second time that Continue reading

Posted in Boulder Strip, Churchill Downs, Downtown, Illinois, Lake Tahoe, Las Vegas Raiders, Laughlin, Nevada, North Las Vegas, Racinos, Reno, Rush Street Gaming, Sports, The Strip, Tourism, Transportation, Wall Street | Comments Off on Baccarat hamstrings the Strip

A Majestic idea; MGM’s Springfield angst

Anyone remember the Greek Isles? Anybody want to? Like a phoenix rising from the ashes, the Greek Isles site will midwife the $850 million Majestic Las Vegas, designed by Paul Steelman after the style of Paul Revere Williams. It will have 720 suites, 50 pool cabañas, a four-story spa and absolutely no gambling. This doesn’t entirely come as a shock: Gambling represents a smaller and smaller slice of the casin0-revene pie. Also, Convention Center Drive isn’t exactly a hotbed of casinos, so the no-gaming option seems right for this Las Vegas backwater. Says developer Lorenzo Doumani, “It is time for Las Vegas to provide a luxury option for those who visit our city who want something that is non-gaming.” Now, one could argue that if you don’t want gambling, why are you coming to Las Vegas? Or, if you want luxury without gaming, why not stay at Vdara?

But Doumani does seem au courant with the latest evolution of Las Vegas. On the other hand, Doumani didn’t get Continue reading

Posted in Architecture, Arizona, Caesars Entertainment, CityCenter, Connecticut, Dining, Economy, Foxwoods, LVCVA, Massachusetts, MGM Resorts International, Mohegan Sun, New York, Security, Technology, The Strip, Transportation, Wynn Resorts | 1 Comment

Two trains running

In a flurry of recent developments, Las Vegas has gone from no viable prospects for train service to two. And since they would use different tracks, they are not mutually exclusive. One project that appears to be dead and buried is American Magline, deserted by both Rep. Dina Titus (D) and then-Sen. Harry Reid (D), who took $45 million in federal funding with him. As the most expensive of the three rival trains—$12 billion—the maglev proposal always had the steepest grade to climb. Another project, Xpress West, previously known as Desert Xpress, was bought by Florida-based Brightline, which in turn was invested in by Sir Richard Branson, who will market the company as Virgin Trains.

Brightline applied earlier this month for tax-exempt bonds in Nevada. The $200 million in bonds, if approved, would enable Continue reading

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Quote of the Day

“In my opinion, whether documentary or fiction, it’s all one big lie we’re telling the viewer. I think our art consists in lying in such a way that the viewer believes it.”—filmmaker Abbas Kiarostami

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