{"id":10796,"date":"2013-05-13T10:47:05","date_gmt":"2013-05-13T18:47:05","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=10796"},"modified":"2013-05-14T08:14:24","modified_gmt":"2013-05-14T16:14:24","slug":"cosmo-finally-learns-parxs-maryland-play","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/cosmo-finally-learns-parxs-maryland-play\/","title":{"rendered":"Cosmo finally learns; Parx&#8217;s Maryland play"},"content":{"rendered":"<p><img loading=\"lazy\" class=\"aligncenter size-full wp-image-5366\" title=\"cosmopolitan_las_vegas_terrace_studio_view\" src=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2010\/12\/cosmopolitan_las_vegas_terrace_studio_view.jpg\" alt=\"\" width=\"450\" height=\"336\" \/>We don&#8217;t know how it managed it but congratulations to<strong> The Cosmopolitan of Las Vegas<\/strong>. It finally realized how to market to those hitherto-elusive creatures known as &#8220;gamblers.&#8221; <a href=\"http:\/\/cdcgamingreports.com\/the-cosmopolitan-posts-first-quarter-loss-casino-revenues-spike-lvrj\/?doing_wp_cron=1368285185.0000000000000000000000\" target=\"_blank\" class=\"broken_link\">Casino revenue shot up 33%<\/a>, winning $41 million from players, partly due to better-than-expected hold. Room rates ($273) and 88% also continued to be some of the best on the Strip &#8230; unless you&#8217;re a customer, that is. But Cosmo continues to be driven primarily by restaurants and bars ($75 million) and its first-quarter loss widened from a year ago, thanks to higher operating costs, and return on investment is a measly 2%. But hey, kudos to <strong>Deutsche Bank<\/strong> for finally getting the hang of this &#8220;casino&#8221; thing.<\/p>\n<p><strong>After making a few<\/strong> head-fakes, via <strong>SEC<\/strong> statements, to make it seem as though it wouldn&#8217;t pursue <!--more-->a <strong>Rosecroft Racino<\/strong> racino after all, <strong>Penn National Gaming<\/strong> <a href=\"http:\/\/www.bloomberg.com\/news\/2013-05-10\/penn-national-battles-mgm-again-with-d-c-casino-plan.html\" target=\"_blank\" class=\"broken_link\">slid in just under the deadline<\/a> for applications. It joins <img loading=\"lazy\" class=\"alignleft size-thumbnail wp-image-4758\" title=\"Great_Seal_of_Maryland_reverse\" src=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2010\/10\/Great_Seal_of_Maryland_reverse-150x147.png\" alt=\"\" width=\"150\" height=\"147\" srcset=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2010\/10\/Great_Seal_of_Maryland_reverse-150x147.png 150w, https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2010\/10\/Great_Seal_of_Maryland_reverse.png 261w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/>the long-since-filed <strong>MGM Resorts International<\/strong> application. However, Penn&#8217;s chances just got a whole lot worse: <a href=\"http:\/\/cdcgamingreports.com\/2-more-apply-for-casino-license-near-washington-dc-ap\/?doing_wp_cron=1368285015.5244090557098388671875\" target=\"_blank\" class=\"broken_link\">A third, dark-horse entrant has joined the derby<\/a>. <strong>Greenwood Racing<\/strong> is an aegis of <strong>Parx Casino<\/strong>, near <strong>Philadelphia<\/strong>. That&#8217;s the top-grossing casino in <strong>Pennsylvania<\/strong>, so when Greenwood throws down an $800 million offer for a casino-hotel in <strong>Fort Washington<\/strong>, it has to be taken pretty seriously. It would still take miracle for MGM&#8217;s <strong>National Harbor<\/strong> proposal, beloved of the local political establishment, to lose &#8230; especially since Penn has been indiscreet about its true, uningratiating motive being to protect the flanks of its <strong>West Virginia<\/strong> and <strong>Pennsylvania<\/strong> properties. But Greenwood&#8217;s unexpected appearance throws a most interesting monkey wrench into the works.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>We don&#8217;t know how it managed it but congratulations to The Cosmopolitan of Las Vegas. It finally realized how to market to those hitherto-elusive creatures known as &#8220;gamblers.&#8221; Casino revenue shot up 33%, winning $41 million from players, partly due &hellip; <a href=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/cosmo-finally-learns-parxs-maryland-play\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[66,28,72,11,69,95,33,9,38,139],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/10796"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=10796"}],"version-history":[{"count":5,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/10796\/revisions"}],"predecessor-version":[{"id":10799,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/10796\/revisions\/10799"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=10796"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=10796"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=10796"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}