“Researchers found that optimistic people are more likely to live longer. A study of around 70,000 women and 1,500 men led by Boston University suggested those with a glass half full attitude had up to 70% greater odds of reaching the age of 85. Optimists may be better at regulating emotion and coping with stress.”—Bloomberg
(surprisingly) lost money, then turned profitable. Others, like Resorts Atlantic City, were just making ends meet. Still others, like Harrah’s Resort, were doing respectably and Borgata was making money hand over first. Ocean Casino Resort was the only bleeding red ink all year to date. (Guess they’re not going to build that second hotel tower after all.) For the industry as a whole, 
O’Connell and associates “want to rewrite the rule book to suit their needs.” That means, among other things, investing far less than the statutory $500 million minimum—more like $300 million. The polyglot project would also incorporate a thoroughbred racetrack and minor-league baseball park. With a handwave, O’Connell declares the enabling legislation 
city started issued a request for proposals. Osaka still has plenty of interested parties, led by MGM Resorts International/Orix—remember, Japan wants to see a high level of Nipponese ownership in these casinos—Wynn Resorts, Galaxy Entertainment and Melco Resorts & Entertainment. For reasons best known to himself, Sands CEO Sheldon Adelson didn’t like the prospective ROI in Osaka. As for getting the most bang for his buck, “We think an investment in Tokyo or Yokohama gives us the best opportunity to do exactly that.”
screw you. In defense of the hoteliers, they need to pay for the “amenity creep” in hotel rooms (think of all those HDTVs) and—in the Las Vegas market in particular—must combat the downward pressure on room rates exerted by online travel agencies. Las Vegas Advisor Publisher Anthony Curtis touches a salient nerve when he says, “By raising the rates using resort fees, those additional revenues are not subject to the OTA commission. It’s dual purpose in Las Vegas: First to keep the rates down and second to keep more of their own revenue without having to duke it [out] to their online travel partners.” The impact on customers seems to be, at best, a secondary consideration.
staggering by the revelation that the $1.2 billion cost had ballooned to $1.7 billion. To put that in perspective, MGM Resorts International spent only $375 million to construct T-Mobile Arena. Or, put another way, you could build four T-Mobiles for the cost of Sheldon’s Sphere and still have hundreds of millions left over. “MSG plans to open the high-tech Las Vegas venue in 2021. It will host concerts, product launches, award shows and sporting events and feature an interior display the size of three football fields,” reported Bloomberg. Still, think of the possibilities: Sheldon Adelson’s noggin projected on a screen hundreds of feet high. The horror.
investigate the deal and, more specifically, 
casino does not have “any reasonable prospect for becoming financially self-sustaining in the future.” Genting Group maintains that Resorts World Catskills is doing better, but only very incrementally: It lost $37 million in the first quarter, $36 million in 2Q19. Things are so bad that Empire petitioned New York regulators to allow it to curtail the slot floor. Lawmakers also quietly slipped a deal for Empire Resorts to build a slot parlor in Orange County, a New York City suburb.
Mohegan Sun for the shortfall: We may have underestimated that level of loyalty and what it would take for those customers to give us a shot.” Stressing the positive, he said the casino has brought 6 million people to downtown Springfield. He also bragged on the casino’s restaurants and entertainment lineup. More to the point, revenue was not negatively impacted by Encore Boston Harbor in either June or July. That makes sense, given the vast geographical distance between the two casinos. One would not expect Bostonians to drive out Springfield for a bit of a flutter. As for high rollers, Rev. Richard McGowan of Boston College said, “Face it: where would you rather go [if you were a high roller]? Are you going all the way down to Twin River?”
Stephanie Rose had asked the National Indian Gaming Commission to revisit its 2017 finding of eligibility for the Ponca, that reconsideration voided said 2017 ruling. Rose disagreed, adding that “the disruptive consequences [to the Ponca] would have been significant.” Employees of the casino would lose jobs and the tribe’s revenue stream would be impeded. “Other courts have declined to vacate agency decisions when doing so would have adverse economic consequences,” Rose wrote, getting in the kicker: “It is not clear … how the Tribe’s casino is any more detrimental than the three casinos, licensed by the state of Iowa, that are already operating in neighboring Council Bluffs.” It’s the prerogative of the plaintiffs to keep appealing but they ought to consider folding what has been a losing hand.
many years, if not decades. The return on investment profile for all five sites is subpar, if not negative over the five years projected.” Translation: You’d have to be awfully desperate to bid on this project. The hits kept on coming. “Tourists generally will not patronize a casino in an area that is inconvenient relative to where they are staying or perceived as unsafe, nor will tourists be eager to book a room at a casino’s hotel if there are no other easily accessed attractions nearby. For these reasons and more we would not expect a material number of tourists to patronize any of the five sites analyzed herein. Instead, these sites will primarily draw patrons from persons living within close proximity.” Which, since Mayor Lori Lightfoot (D) wants to put the casinos in the slums, means the “persons living within close proximity” won’t have much money with which to gamble.
as almost $1.6 million/day in win, an amount that ought to salve the $35.5 million in fines Wynn Resorts had to pay to play in the Bay State. Representing 25% of market share, MGM Springfield grossed $20.5 million, flat with July 2018, while Plainridge Park won $12.5 million (-20%). Those Plainridge Park numbers are better than they appear, as the racino did an above-average $337/slot/day. Encore’s tally was $216/win/slot/day and MGM Springfield took in $196/win/slot/day.
until at least October 2020, possibly until the following January. That spares customers from having to stay in a construction site, as the hotel is rethemed in stages (the original plan) but it seems hella risky to have a prize asset sitting there as a passive pile of concrete, generating no cash flow for eight to 11 months. One can take consolation in the fact that when the resort reopens as the Virgin, it will indeed be unsullied and fresh to the market, with the cachet that comes with the debut of a megaresort.-
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