“Atlantic City is going to lose the little charm and hospitality that we have left,” moaned local restaurateur John Exadaktilos, chafing at another closure order from Gov. Phil Murphy (D). “What are we doing?” Hanging on by one’s fingertips, it would appear. As for the casino industry, although it’s coming back faster than Las Vegas’, it would be in quite a bind without mobile sports wagering and Internet gambling. They’re two legs of the trip that’s keeping Atlantic City, however unsteadily on its feet.
As for Sin City, its restaurants are caught between a rock and a hard place. Gov. Steve Sisolak‘s latest capacity restrictions (25% or less) are prompting several eateries, including the Oyster Bar at South Point, to close altogether, at least until the surge blows over. Veteran Mexican restaurant Lindo Michoacan (one of our faves) had to shut down for quite a different reason, after a sinkhole swallowed its dining room, putting 80 people out of jobs. The restaurant may be out of action for as long as a year. Speaking of calamities, the ‘skinny stimulus’ bill currently before Congress “fails to address the problems that threaten to collapse the restaurant industry,” writes Eater‘s Amy McCarthy, mincing few words. She contends that $300 billion in new Payroll Protection Program is but a drop in the bucket and that the restaurant industry needs relief from the loans it’s already taken (such as the airlines will be getting, despite having welshed on promises not to cut jobs).
“It’s not surprising that Congress is willing to bail out major corporations with no strings attached while the lifeblood of the economy withers on the vine, but it is disappointing,” remarks McCarthy, viewing the Covid carnage that has include closures of 100,000 restaurants. Without stimulus there will be, she contends, a new wave of shutdowns and ripple effect of unemployment. “The newest stimulus proposal does pretty much nothing for those workers, outside of some assistance for those who are facing eviction.” Even Democrats have left the dining business in the lurch, abandoning a proposed, $120 billion infusion into the industry specifically, leaving the F&B biz at the tender mercies of Sen. Mitch McConnell (R), in whose veins the milk of human kindness does not flow.
If you have a Roku stick plugged into your TV, you probably get a service called Fubo, a streaming platform mainly for sports. Well, Fubo just got serious about being a player in sports betting. It purchased Balto Sports, “a Y Combinator company that develops tools for users to organize and play fantasy sports games” that Fubo intends to use as a stepping stone toward real-money, online sports wagering. As Fubo says, “Additional announcements will be forthcoming.”
Mohegan Sun is having problems moving forward with Inspire in South Korea. Although ground was broken last year, Coronavirus is having a dilatory effect on construction. Also, Global Gaming Business reports, Mohegan Sun is having difficulty raising capital to complete the project. The bad news comes as Mohegan Gaming & Entertainment waits for the permits for the $9 billion Hellenikon megaresort in Greece of which it is a key partner, a waiting period that could take a year.
During my last year on the east coast I spent real time in AC. Ocean is as nice a casino property as any in the US. During the winter, however, it doesn’t make much sense for properties to operate during the week.
For context you should include that the House Of Representatives passed a multi-trillion dollar stimulus bill this past summer, and that Senator McConnell never let it be considered in the Senate. Plus Nancy Pelosi negotiated with the White House for months on a deal that, like the one in the summer, did indeed include help for restaurants and bars. Pelosi and Schumer only this week agreed to go along with the latest proposal that you correctly describe as bare bones, and that is because its so late in the game, and they promise to push for way more in the next Congress. The hold up is Mitch McConnell and his Republican Senate majority, the American people deserved an up or down vote in the Senate on the bill that McConnell ignored on purpose, or at least we deserved a Conference Committee negotiation on the details… Three thousand Americans died yesterday from the virus, we need to bail out small businesses and ride this out till the vaccines make it safe, this is no time for the same old political gridlock crap… The ball is in Mitch McConnell’s court, has been for months and months…
AC: We are both retired, and enjoyed 1-2 weekly trips to AC. Without the considerable entertainment mostly @ Hard Rock & MGM Borgata (not to be confused with The Borgata – R.I.P. many benefits), AC is a lonely place. With convoys of ATV’s & bikes on Atlantic Ave or Pacific Ave it’s more scary than it has ever been before. I wish Bart Blatstein well, but I can’t imagine families flocking to Showboat for his proposed water park.