Merry Christmas Eve, wherever you are

Nobody rocks a holiday favorite quite like Annie Lennox.

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Quote of the Day

“This is a bad deal for Arkansas. These casinos are going to be festering sores in our communities. They’re going to pull money out of the local economies and plunge some of our poorest families deeper into poverty.” — Family Council President Jerry Cox, still smarting at the festering sores his group got at the ballot box last month.

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Christmas Case Bets

Macao is expected to set a record for visitation this, no doubt to the delight of casino executives in the enclave. If 32.5 million tourists came in 2017, they will be topped by the 35 million who came this year — and that number is expected to improve to 40 million by 2020. Seventy-one percent of arrivals were from mainland China. The Hong Kong-Zhuhai-Macau Bridge was an additional — pardon the pun — driver of visitation. But that doesn’t necessarily translate to the casino’s bottom line, as many of those drivers were lookie-lous who just wanted to try the new span out. As for gaming revenue, so far it’s up nearly 14% from 2017.

“We see a positive long term secular story balanced by near-term caution, and macro, policy and geopolitical risks,” observed Credit Suisse analyst Cameron McKnight. He forwarded a warning from the Financial Times that Continue reading

Posted in Architecture, Baseball, Caesars Entertainment, Detroit, Economy, Hard Rock Hotel, Internet gambling, Macau, Politics, Station Casinos, Taxes, Tourism, Transportation, Tribal, Virginia, World Series of Poker | Comments Off on Christmas Case Bets

Stabbed in the back

In a colossal act of betrayal, the NFL, Major League Baseball and the PGA Tour have turned on their new gaming ‘partners’ and betrayed them by getting into bed with Sen. Chuck Schumer (D) and his dreadful bill to push federal sports betting regulation on the casino industry. “No bet is ever a guaranteed win, but it’s a smart bet that I will strongly advocate for this bill to move forward and that Congress will vote to pass federal legislation very soon,” Schumer said, making a horrible pun. The bill would take oversight from bodies that have some experience (the states), put it in completely inexperienced hands (the federal government), and somehow have to come up with a way to fund this monstrous afterbirth of the illicit amours of Schumer and Sen. Orrin Hatch (R) — the phrase “integrity fees” springs to mind. Unspecified “sports betting taxes” have already been mentioned and there’s nothing that gladdens a federal legislator’s heart so much as Continue reading

Posted in Arizona, Internet gambling, Japan, Law enforcement, New Jersey, Politics, Sheldon Adelson, Sports betting, Taxes, Tourism | Comments Off on Stabbed in the back

Quote of the Day

“In a Bitkom survey, more than half of respondents said they would not use a robot reception and check-in. The majority of respondents are also hostile to controlling lights or music with a smartphone app, or using their smartphone as a room key.” — Hmmmm. Seems like there’s a disconnect  between the lodging industry and its customers.

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Bad idea refuses to die; E-sports comes to the Boardwalk

Sens, Chuck Schumer (D) and Orrin Hatch (R), forever in search of bad ideas to espouse, it would seem, have introduced the Sports Wagering Market Integrity Act of 2018. There’s no mention of Hatch’s cockamamie notion of individual states having to get permission from the federal Attorney General to offer sports betting but the American Gaming Association‘s Sara Slane hit the nail on the head and drove it clean through the board when she called the legislation “the epitome of a solution in search of a problem.” She added, “Additional areas this bill seeks to address – including the mandatory use of official league data and the creation of a national sports wagering clearinghouse – can, and should, be decided by marketplace negotiations between private businesses and cooperative agreements among jurisdictions. In the mere six months since the U.S. Supreme Court paved the way for legal, regulated sports betting, significant developments on both of these fronts have already occurred without any federal involvement.”

It’s too early for incoming AGA President Bill Miller to have put his stamp on the association. However, it is Continue reading

Posted in AGA, Atlantic City, Dining, e-sports, Economy, Marketing, MGM Resorts International, New Jersey, Politics, Racinos, Sports, Sports betting, Station Casinos, The Strip, Tourism, Wall Street | 1 Comment

Quote of the Day

“People trust us to allow them to sleep safely and securely. There’s a longstanding tradition of an innkeeper, that we fulfill that commitment to them. Has it extended naturally, with the same diligence, to the digital environment? Not always.” — Hospitality Technology Consulting President John Burns, commenting on the Marriott hack. For the time being, Marriott is refusing to point any fingers at the likely culprit, China.

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Sports betting comes to D.C.; Free advice for Steve Wynn

In a move that is certain to chap the hindquarters of prudes like Sen. Orrin Hatch (R), the District of Columbia‘s ruling body has voted 11-2 to legitimize sports betting in our nation’s capitol. According to NBC, the legislation permits wagering “at the city’s stadiums and arenas, private businesses like restaurants and liquor stores, and within the city limits on a mobile app.” Mayor Muriel Bowser (D) is expected to sign the bill, which still needs a congressional OK. (The nerve of those Washingtonians, daring to think for themselves!) Congressional opponents will have a hard time arguing that what’s sauce for Pennsylvania isn’t sauce for the Beltway gander. Considering that D.C. also has a lottery, opponents would have a hard time arguing against sports betting, though argue they will.

Aforesaid lottery will be the sole disseminator of sports wagers in D.C., a development that even Continue reading

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Christmas in Vegas; Study: Millennials’ impact overrated

I don’t believe this. WalletHub has ranked Las Vegas the second-best city in which to celebrate Christmas. Don’t get me wrong but I can’t think of anything more dispiriting than to spend Jesus’ birthday surrounded by slot machines instead of friends and family. True, my wife and I ate at Sam’s Town one Christmas, but that was very much the exception. WalletHub’s criteria include the cost of a three-star hotel room (#1), toy and hobby stores per capita (#3) and Christmas-tree farms per capital (#26). Further down we find Christmas events per capita (#36) and average price per Christmas party ticket (#39). Hoteliers obviously won’t be happy with having the cheapest three-star rooms in America but it serves them right for gouging us with resort and parking fees.

On a related note, casinos are experiencing what Tom Osieki calls “the Silver Tsunami.” She writes, “Today, baby boomers are driving the car in your casinos while Continue reading

Posted in Boulder Strip, Boyd Gaming, Economy, Entertainment, Genting, Macau, Marketing, The Strip, Wynn Resorts | 2 Comments

Quote of the Day

“Much to the AGA’s credit, this is a remarkable time for gaming in America. The industry is growing, acceptance of gaming as mainstream entertainment has never been higher and the opportunities to continue to advance gaming’s agenda are abundant. I am eager to help lead the industry in this next era.” — new American Gaming Association President Bill Miller.

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New boss at AGA; Route 91 Harvest returns

Replacing Geoff Freeman, the American Gaming Association has tapped Business Roundtable Senior Vice President for Government Relations Bill Miller. A Beltway lobbyist of two decades’ standing, Miller should be able to hit the ground running. Thirteen years of lobbying on behalf of the U.S. Chamber of Commerce won’t hurt either. Miller is said to run in conservative Republican circles, so it will be interesting to see how this affects AGA policy, particularly in the wake of the centrist Freeman. Perhaps Miller’s relationship with Sheldon Adelson will be less strained than was Freeman’s.

* Route 91 Harvest music festival is mulling a return to Las Vegas, “though probably far from the site of the 2017 shooting, according to a key promoter of the event.” Ironically, Continue reading

Posted in AGA, Baseball, Caesars Entertainment, California, Eldorado Resorts, Entertainment, Geoff Freeman, Greenwood Racing, Las Vegas Sands, Law enforcement, Mandalay Bay Massacre, MGM Resorts International, Penn National, Pennsylvania, Rush Street Gaming, Scientific Games, Sheldon Adelson, Sports, Sports betting, Tamares Group, The Strip, Tribal, TV | 3 Comments

Atlantic City sparks controversy; Resort fee change at Cosmo

Faced with a 9% drop in operating profit at Atlantic City casinos, pundits are squaring off as to whether this means doom for the laggards. Analyst Tony Marino told The Press of Atlantic City that it “might be wise to curb our enthusiasm about the long-term continuation of positive current casino trends.” He predicted an upward surge next July but “between now and then, the current four-month negative revenue trends among most of the seven [incumbent] operators will also likely continue until next summer and perhaps beyond. In other words, the hoped-for expansion of Atlantic City’s tourist market demand will continue to lag considerably behind the expansion in casino supply triggered by the two new casinos. … If Atlantic City’s past history has taught us to be Continue reading

Posted in Atlantic City, Cosmopolitan, Economy, International, Internet gambling, Neil Bluhm, Penn National, Pennsylvania, Politics, Resort fees, Rush Street Gaming, Sports, Sports betting, Technology, The Strip, Transportation, Wynn Resorts | 2 Comments

Scientific pays up; Clouds over Macao

“While we firmly believe that the jury decision was wrong, we are pleased with the outcome of the settlement and that this matter will be resolved for good,” said Scientific Games Chief Legal Officer James Sottile, trying to spin a loss as a win. Scientific had been dealt a serious blow last August 7 in a suit brought by Shuffle Tech. The jury not only found in Shuffle Tech’s favor, the $105 million in compensatory damages was subject to trebling plus court costs. This would have brought Scientific’s tab to $335 million. The parties settled out of court for $151.5 million, which is a serious haircut for Scientific but Continue reading

Posted in Caesars Entertainment, Colony Capital, Donald Trump, Economy, Japan, Las Vegas Sands, Law enforcement, Macau, Melco Resorts & Entertainment, Scientific Games, Sheldon Adelson, Steve Wynn, Transportation, Wall Street, Wynn Resorts | 1 Comment

Newcomers lose ground in Atlantic City

November was good for Atlantic City, up 12.5% and down only 5% on a same-store basis. The $209 million haul was propelled by a 12.5% increase in slot win and a 13.5% jump in table revenues. A 17% drop in table win at Borgata helped pull its revenues down 7%, while Borgata slots slipped 3%. Caesars Entertainment caught a break, down 7.5% but with 3% higher table win (despite 13% less wagering) but slot win tumbled 11%. A 6% falloff in slot win at the Tropicana Atlantic City helped pull it down 4%, although table win was 3% higher. Only Resorts Atlantic City posted a gain (10%), grossing $16.5 million.

Ocean Resort slipped further into last place, booking less than Continue reading

Posted in Atlantic City, Australia, Boyd Gaming, Bruce Deifik, Caesars Entertainment, Eldorado Resorts, Genting, Greenwood Racing, Hard Rock International, Internet gambling, Las Vegas Sands, MGM Resorts International, Mohegan Sun, Nevada, New Jersey, New York, Penn National, Pennsylvania, PokerStars, Rush Street Gaming, Sports betting, Tilman Fertitta | Comments Off on Newcomers lose ground in Atlantic City

Xi caught in the act; Vegas economy looking up

If Donald Trump wants to get tough on Chinese President Xi Jinping, he may just have been handed an excuse courtesy of Starwood. Indeed, White House retaliation may already be teed up like a golf ball at Mar-A-Lago. According to HotelsMag.com, “Marriott International is now facing the possibility that the [2014-18] hack may be attributed to Chinese who potentially may have been using the data for the country’s government intelligence services and the military, according to multiple sources.” Passport data was among the information plundered during the long-undiscovered hack. Investigation of the hacking has found similarities to other Chinese data raids, although China may have been only one of several culprits. “Think of the depth of knowledge they could now have about Continue reading

Posted in Caesars Entertainment, Donald Trump, Economy, history, International, Law enforcement, The Strip, Wall Street | 1 Comment

Where Raiders go, trouble follows

It was announced today that the 2020 NFL draft will be held in Las Vegas. However, it could be like a ship stranded in a sand dune. The City of Oakland is suing the league and the Oakland Raiders for alleged collusion in engineering the move of the silver and black to Sin City. The team could find itself homeless for the 2019 season, banished from Oakland and with no ready stadium in Las Vegas. According to Sports Illustrated, Oakland “argues that Raiders owner Mark Davis, along with other NFL owners and league officials, have formed an illegal ‘cartel.’ This so-called cartel is accused of violating federal antitrust law and California civil laws by attempting to facilitate the Raiders’ planned relocation to Las Vegas in 2020,” motivated by greed for relocation fees.

Oakland is seeking damages which, while they would not Continue reading

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New strategy at Ocean Resort; What’s in your wallet?

Stuck in last place in the Atlantic City casino scene, Ocean Resort is going to try a new tack by supersizing its entertainment lineup, in what as described as a “cutthroat Atlantic City nightlife market.” Performers booked for Ocean’s 5,500-seat concert hall range from the big (Brooks & Dunn, Frank Caliendo) to the nostalgic (Kenny Loggins) to the Whatever Happened to Them (The Monkees) in a resort whose biggest performer to date has been Ke$ha. Said owner Bruce Deifik, “We are ecstatic that we finally have an entertainment announcement of real consequence. We have another 110 to 120 offers out to artists.”

Deifik is obviously trying to emulate Hard Rock Atlantic City‘s entertainment-first marketing strategy and has Continue reading

Posted in Atlantic City, Bruce Deifik, Dan Gilbert, Entertainment, Hard Rock International, International, Iowa, Ohio, Problem gambling, Warner Gaming | Comments Off on New strategy at Ocean Resort; What’s in your wallet?

Moderate-sized trouble in Little China

There’s trouble ahead for Macao but the casino industry has plenty of time to brace for impact. Credit in China is down 6% year over year. As Credit Suisse analyst Cameron McKnight reports, “Weak credit data is likely to exacerbate China macro concerns. There is a significant lag (12-15 months plus) between Macau and credit growth. If Macau revenue growth decelerates, it likely reflects macro conditions at least a year ago — when credit growth was slowing. Secondly, credit growth is very volatile m/m and q/q.”

However, McKnight sees positives in Continue reading

Posted in Dining, Economy, Galaxy Entertainment, Las Vegas Sands, Macau, Melco Resorts & Entertainment, MGM Resorts International, Sociedade de Jogos de Macau, Tourism, Transportation | Comments Off on Moderate-sized trouble in Little China

Quote of the Day

“The floor of Congress is now going to look like an Islamic republic. We are a Judeo-Christian country. We are a nation rooted and grounded in Christianity and that’s that.” — Rev. E.W. Jackson, decrying the wearing of hijabs on Capitol Hill. How does he feel about yarmulkes?

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SJM: Aren’t we special?

Sociedade de Jogos de Macau must think it’s pretty special. While its straggling Grand Lisboa Palace will stock some table games via the ‘cap-and-trade’ formula used by other operators, it has loftily informed the press that it expects the Macao government to give it 300 fresh-to-market tables. That’s far more than any other Cotai operator has received since the government-imposed slowdown on new gambling inventory. The $4.6 billion megaresort certainly needs all the tables it can get, especially since they will have to help support three hotels, including a Palazzo Versace and a Karl Lagerfeld-branded hostelry. SJM might be better advised to keep its eye on finishing the project by the end of 2019, coming in just under the wire of concession renewal — or rebidding — in 2020.

Macanese casino owners hoping for concession renewal might want to look to their customer service, which was Continue reading

Posted in Economy, Galaxy Entertainment, Las Vegas Sands, Macau, Melco Resorts & Entertainment, MGM Resorts International, Movies, Regulation, Sheldon Adelson, Singapore, Sociedade de Jogos de Macau, Tourism, Wynn Resorts | Comments Off on SJM: Aren’t we special?