{"id":12627,"date":"2014-02-03T13:08:55","date_gmt":"2014-02-03T21:08:55","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=12627"},"modified":"2019-07-09T09:53:29","modified_gmt":"2019-07-09T17:53:29","slug":"super-bowl-hits-vegas-jackpot-hope-for-caesars-overseas","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/super-bowl-hits-vegas-jackpot-hope-for-caesars-overseas\/","title":{"rendered":"Super Bowl hits Vegas jackpot; Hope for Caesars overseas"},"content":{"rendered":"

\"Money\"<\/a>“It was embarrassing, humiliating and unbearable,” but when the Super Bowl<\/strong> was over, Nevada<\/strong> sports books had cleaned up<\/a> … except for that safety on the first play from scrimmage<\/a>, costly for the Denver Broncos<\/strong> and the books alike. Heavy betting in the Broncos’ favor was a boon to the bookies, who very well may have set a record for amounts wagered on (to use a ridiculous Vegas euphemism) “The Big Game.” Betting handle last year nearly hit $99 million and this year’s was 3%-5% higher. Whoever laid 300 grand on the Seattle Seahawks<\/strong> will go home a happy camper, but most of the heavy action was laid in the Broncos’ favor.<\/p>\n

Las Vegas<\/strong>‘ equivocal recovery had good news last year, as gambling revenue totaled over $11 billion<\/a> (well below 2007 levels but impressive none the less), up 3%. The Strip, where winnings rose 5%, came close
\nto matching its all-time high but not quite. Baccarat drove much of the earnings bonanza, 24% of all winnings<\/a> — which isn’t great news unless you’re Wynn Resorts<\/strong>, Las Vegas Sands<\/strong> or MGM Resorts International<\/strong>. Those three led the charge, as baccarat recorded an all-time record. Bread-and-butter action, slot play, represented a scarily low percent (61%) of revenue overall.<\/p>\n

Supply-and-demand dynamics didn’t work in Vegas’ favor, as hotel bookings didn’t reach Las Vegas Convention & Visitors Authority<\/strong> projections, despite many rooms being out of circulation, due to construction or renovation. Occupancy was slightly up on weekends<\/a>, a gain negated by soft midweek numbers. ADRs gained 2%, though. Conventions and attendance, however, were at best-since-2008 levels. Recovery is coming, at least to the Las Vegas Strip<\/strong>, but much of it is creeping in on little cat feet.
\n* In a bit of good news for Caesars Entertainment<\/strong>, the criteria for applying for a casino in South Korea<\/strong> will be loosened. President Park Guen-hye<\/strong> proposes to lower the mandatory bond rating<\/a> to below ‘BBB.’ Caesars’ chances instantly look better. Analysts speculate, meanwhile, what the dickens CEO Gary Loveman<\/strong> wants with Revel Resort<\/strong>.
\n* Bally Technologies<\/strong> is the big winner and Aristocrat Technologies<\/strong> the loser in a massive ($34 million) slot-systems deal<\/a>. Boyd has 27,100 slots spread across 18 states.<\/p>\n

* Howard Stutz<\/strong> has an interesting, contrarian narrative<\/a> about the recent National Finals Rodeo<\/strong> kerfuffle. He contends that Vegas was never in serious danger of losing.<\/p>\n","protected":false},"excerpt":{"rendered":"

“It was embarrassing, humiliating and unbearable,” but when the Super Bowl was over, Nevada sports books had cleaned up … except for that safety on the first play from scrimmage, costly for the Denver Broncos and the books alike. Heavy … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[106,23,77,60,7,22,75,11,157,12,74,32,9,19],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/12627"}],"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=12627"}],"version-history":[{"count":4,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/12627\/revisions"}],"predecessor-version":[{"id":24481,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/12627\/revisions\/24481"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=12627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=12627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=12627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}