Despite one less weekend day than 2017, December was good for the Las Vegas Strip. Visitation was up over 2% and room revenues leapt 16% to an average of $104/room. 
This was particularly impressive given a 23% decline in convention attendance. Even with so many fewer conventioneers, hoteliers were able to push room rates almost 12% higher, to an average of $128/night, on 81% occupancy (87.5% on weekends). Visitors to Vegas numbered nearly 3.3 million, with 222,000 of them conventioneers. Drive-in traffic was strong, up 4%, with a 3% increase in Californians.
By the way, it’s goodbye Total Rewards, say hello to Caesars Rewards. While we’re loath to part with a catchy moniker, Caesars is the best brand name in gambling and the company has underutilized it, particularly during the Gary Loveman regime, so we like the change on balance.
* MGM Resorts International closed on its purchase of Empire City Casino/Yonkers Raceway, an $850 million deal with the Rooney family that adds 5,200 VLTs to the MGM inventory. However, the lion would prefer a Vegas-style casino, complete with table games. The racino also comes with 50 undeveloped acres, so are you thinking what I’m thinking? (Megaresort.) Also, with New York City practically within his grasp, will MGM CEO Jim Murren still want a casino in Connecticut? (Probably yes.) MGM is so flush with cash right now that Continue reading
6% ($292 million) despite flat coin-in. The house lost big-time on table games, with 3% less win on 9% greater wagering. Las Vegas locals casinos cleaned up, with slot win — possibly fattened by late-November coin-in — vaulting 23% for an overall gain of 20%, on 2% higher coin-in and despite on less weekend day. The Strip grossed $566 million, while Downtown checked in with $59 million (26.5% higher) and North Las Vegas leapt 18% to $23 million. The Boulder Strip rocketed 45% higher, to $68 million, and miscellaneous Clark County casinos raked in $100.5 million for an 8% hop. Laughlin was a comparative underachiever, up only 4.5% on $32.5 million. Reno slipped 2.5% to $54 million while Lake Tahoe skilled 9% to finish with $17 million.
found a magical elixir in its fourth-quarter report. Net revenue at Wynncore was up 3% to $393.5 million, Wynn Macau slipped 5% to $553.5 million but Wynn Palace jumped 13% to $740.5 million. Impressive. It helped make up for a 60.5% cost increase in the “executive expense” category. Occupancy at Wynncore ran at 88.5%, room rates averaged $315 and room revenues were $279/average (up 13%, besting Las Vegas Sands‘ 6%). Table game wagers increased 18% to $508.5 million, slot coin-in was up 8.5% to $904.5 million and win/slot/day was $350, up 4.5%. Table revenues were $114 million, slots $58.5 million, increases of 12.5% and 3% respectively. On the other side of the ledger, promotions and discounts were up 19% as Wynn Resorts spent $67 million to buy business. The Macao-derived revenues were 11% higher than Wall Street consensus expected.
that Las Vegas and Los Angeles are pawns in the conference’s attempts to shake down Santa Clara for a better deal. Both cities are building stadiums and both of those venues would be in relatively close proximity to a major international airport, Los Angeles’ new stadium would be four miles from LAX, Vegas’ even closer to McCarran International Airport. Whoever gets the game can look forward to an influx of 35,000 tourists, based on recent stats. The City of Angels will have the bigger seating capacity but Sin City is already playing host to the Pac-12 men’s basketball championship, to be played at T-Mobile Arena. (Funny how sporting leagues are suddenly drawn to Las Vegas now that the Supreme Court has said sports betting is kosher.) Call it a standoff at this point and root for the Strip.
attentive cocktail servers to properly trained dealers, we want players to walk away feeling like winners—even after losing their last chip. Frequent-hitting side bets, tables that pay 3:2, and advantageous house rules should be what keeps these players coming back time and time again. Though the data might show that this isn’t the fastest way to make a profit, it’s the only way to ensure a happy, passionate base of loyal blackjack players.” — Nicole Schultz of UNLV‘s International Gaming Institute 
became pregnant with his child.” This led to the $7.5 million payoff that got Steve Wynn and Kim Sinatra bounced from Massachusetts.
justify a Las Vegas residency, starting May 31 at the Zappos Theater (an improvement on whatever moniker it had before) at Planet Hollywood. In rolling out the news, Aguilera punched all the Xpected buttons: “The Xperience is going to be my most ambitious show yet. Getting to perform in this adult playground we call Las Vegas is inspiring me to bring forth all of my talents in a mind-blowing theatrical experience – song, dance, visuals and uninterrupted high energy. For years I have been collecting ideas and concepts that have yet to be implemented on my stages, and Las Vegas is the perfect opportunity for me to collectively showcase my artistry. I cannot wait to bring you into The Xperience.”
guest rooms, will be called Caesars Republic Scottsdale and will be the company’s first non-gaming hotel in the U.S.,” reports AZ Central. The hotel aspires to four-status and its actual operation, interestingly, will be farmed out to Aimbridge Hospitality. Caesars is primarily lending its land and — this is crucial — its Total Rewards membership program. So Caesars-friendly guests can rack up loyalty points without even visiting a casino. Since completion is not expected until 2021 it shouldn’t be a surprise that matters like cost, size of workforce and hiring dates 
of the conversation. However, their actions will be the real statement. We are in a ‘wait and see’ scenario to find out exactly how they will enforce their position. How will they pursue the law on intrastate vs interstate and what qualifies as an illegal breach in our modern age of cloud computing? What level of priority will the United States Attorney’s office assign to hundreds of prosecutors across the nation? How aggressive will they be? How much support will The White House give?” — Global Sports Financial Exchange CEO Zack Ward on the Trump administration’s reversal of the Obama administration’s construal of the Wire Act.
will pay 
West Virginia ($10 million), Delaware ($5 million), Rhode Island ($1 million), and New Mexico ($500,000, all from one casino). The Silver State, which set a record last year will surpass its own $158.5 million high-water mark and should hold $1.2 million of the money bet (which shows you why high sports-betting taxes make no sense). Of the Garden State, 
and they are stringent. The only places advertisements will be allowed will be in the passenger terminals of airports and seaports. No ads on buses on trains, let alone visitor centers (even though the casinos are primarily targeted at tourists). More rules are expected to be promulgated, as the second phase of casino legalization in Nippon continues. The Land of the Rising Sun seems to be in no hurry to issue RFPs even though top gaming developers are champing at the bit.