{"id":13031,"date":"2014-03-18T11:46:36","date_gmt":"2014-03-18T19:46:36","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=13031"},"modified":"2014-03-18T11:46:36","modified_gmt":"2014-03-18T19:46:36","slug":"jackie-gaughan-remembered-new-yorks-bullish-expansion","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/jackie-gaughan-remembered-new-yorks-bullish-expansion\/","title":{"rendered":"Jackie Gaughan remembered; New York&#8217;s bullish expansion"},"content":{"rendered":"<p><iframe loading=\"lazy\" src=\"https:\/\/launch.newsinc.com\/?type=VideoPlayer\/Single&amp;widgetId=1&amp;trackingGroup=69016&amp;siteSection=lvrj&amp;videoId=25724726\" height=\"253\" width=\"450\" frameborder=\"no\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><br \/>\nVerbal tributes to the late <strong>Jackie Gaughan<\/strong> continue to roll in and <a href=\"http:\/\/www.reviewjournal.com\/business\/las-vegas-says-goodbye-jackie-gaughan\" target=\"_blank\">may not end with yesterday&#8217;s funeral<\/a>. He was remembered as a man who said &#8220;<em>Honesty, character and morals are 75 percent of the job. I can teach you everything else<\/em>,&#8221; and who was out at dawn every day, checking out the slot machines at his properties and his competitors on <strong>Fremont Street<\/strong>. If there was ever such a thing as the complete casino executive, Jackie Gaughan was it.<\/p>\n<p><strong>Conversion into slot parlors<\/strong> provides hope for bankrupt <strong>Suffolk Off-Track Betting Corp<\/strong>. <a href=\"http:\/\/www.newsday.com\/long-island\/suffolk\/suffolk-otb-in-deal-with-delaware-north-for-electronic-slots-1.7419400\" target=\"_blank\" class=\"broken_link\">It will get 1,000 slots and turn over management<\/a> to <strong>Delaware North Companies Gaming &amp; Entertainment Inc<\/strong>.\u00a0(pending bankruptcy court approval), concessionaire at <strong>MetLife Stadium<\/strong>. The latter has guaranteed Suffolk OTB <!--more-->$58 million in annual revenue and will grubstake $65 million in conversion money, starting at a 5% interest rate. In return, Delaware North gets an upfront fee of $2 million for rights, 2% of slot net revenues and 5% of cash flow. &#8220;<em>Past forecasts estimate a casino could generate $1.5 billion in wagers<\/em>,&#8221; reports <em>Newsday<\/em>.<\/p>\n<p>While Suffolk OTB expects to be on line by the fall, <strong>Nassau OTB<\/strong> is still looking for a Long Island site. Currently it has no place to put its thousand slots &#8212; and the Lege might bestow an additional thousand on both OTBs. A good thing Gov. <strong>Andrew Cuomo<\/strong> (D) and lawmakers didn&#8217;t include them in budget projections.<\/p>\n<p><strong>Upstate<\/strong>, after trying to get a casino the federal way, the\u00a0<strong>Stockbridge Munsee Band of Mohicans<\/strong> and <strong>Trading Cove Associates<\/strong> <a href=\"http:\/\/www.recordonline.com\/apps\/pbcs.dll\/article?AID=\/20140318\/NEWS\/403180311\/-1\/NEWS\" target=\"_blank\" class=\"broken_link\">are going to capitalize<\/a> upon New York State&#8217;s new casino-expansion law. Like <strong>Empire Resorts<\/strong> and <strong>Mohegan Sun<\/strong>, they&#8217;re targeting the town of Thompson, where the other two have pieces of the old Concord resort site. This critical mass of projects in <strong>Sullivan County<\/strong>\u00a0&#8212; plus the <strong>Nevele<\/strong> one in <strong>Ulster County<\/strong> &#8211;lengthens the odds for <strong>Penn National Gaming<\/strong> and <strong>Cordish Gaming<\/strong>\u00a0further downstate, even if they&#8217;re brand names.<\/p>\n<p><strong>Getting tribal casinos<\/strong> to incentivize their players to go to <strong>Las Vegas<\/strong> has been a source of frustration &#8230; except, presumably, <strong>Caesars International<\/strong>, armed with <strong>Total Rewards<\/strong>. But today, <strong>MGM Resorts International<\/strong> announced a pact with <strong>Thunder Valley Casino Resort<\/strong>, near <strong>Sacramento<\/strong>. Thunder Valley players are eligible to join M life and members of the latter can enjoy the benefits of <strong>Thunder Rewards<\/strong>. The Thunder Valley end of the deal is more &#8220;george,&#8221; including comped hotel rooms and free slot play. MGM will only discount rooms and free-play offers are at &#8220;participating properties.&#8221; Come on, MGM: With the amount of money you&#8217;re making, you can afford to loosen those marketing purse strings a bit.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Verbal tributes to the late Jackie Gaughan continue to roll in and may not end with yesterday&#8217;s funeral. He was remembered as a man who said &#8220;Honesty, character and morals are 75 percent of the job. I can teach you &hellip; <a href=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/jackie-gaughan-remembered-new-yorks-bullish-expansion\/\">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":[34,51,140,11,101,20],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/13031"}],"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=13031"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/13031\/revisions"}],"predecessor-version":[{"id":13032,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/13031\/revisions\/13032"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=13031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=13031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=13031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}