{"id":14542,"date":"2014-09-12T09:33:24","date_gmt":"2014-09-12T17:33:24","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=14542"},"modified":"2014-09-12T09:33:24","modified_gmt":"2014-09-12T17:33:24","slug":"macaos-loss-is-vegas-gain","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/macaos-loss-is-vegas-gain\/","title":{"rendered":"Macao’s loss is Vegas’ gain"},"content":{"rendered":"

There is discernible evidence that the anti-corruption crackdown in China<\/strong> is redounding to Las Vegas<\/strong>‘ benefit. According to a report by Deutsche Bank<\/strong>‘s \"Venetian<\/a>Carlo Santarelli<\/strong>, “we do see a relatively compelling empirical case that supports the view that anti-corruption crackdowns have, at the very least, temporarily diverted VIP flow from Macau<\/strong>.” For one thing, international traffic into McCarran International Airport<\/strong> is up 13% for April through July\u00a0— coinciding with the anti-corruption push. This also parallels a 6% dropoff in rolling chip volume (the primary metric of VIP play) in Macao, as VIP rooms see less action.<\/p>\n

“Beginning in April, when VIP drop decelerated significantly but remained positive, we saw a sharp uptick in Las Vegas Strip<\/strong> baccarat drop,” Santarelli adds. Cash-flow losses in Macao, he says, have been accounted for by increased action on the Strip. “Thus, it can be argued that roughly 37% of the Macau drop shortfall has shown up in Las Vegas.” We’ll see if Santarelli’s thesis holds true when August’s Las Vegas revenue numbers are released.<\/p>\n

* Detroit<\/strong> casino revenue was flat year\/year last month. That’s good news for a market that was expected to lose business to Toledo<\/strong>. In a ‘What’s wrong with this picture’ turn — but not an unpleasant one — Greektown Casino<\/strong> was the sole gainer, up 3%. That more than made up for a 2% drop at MotorCity<\/strong> and an incremental slippage at MGM Grand Detroit<\/strong>. Besides, with a 42% market share (compared to Greektown’s 25%), MGM execs probably aren’t losing any sleep.<\/p>\n

* The administration of New Mexico<\/strong> Gov. Susana Martinez<\/strong> (R) is understandably piqued that the Pojoaque Pueblo<\/strong> tribe wants a new gaming compact that would allow it to cut off revenue-sharing with the state and lower \"Martinez\"<\/a>the gambling age to 18 (from 21). Martinez is further irked that the Pojoaque are negotiating directly with the Interior Department<\/strong> for a new compact. Unfortunately for her, the courts don’t share her umbrage and are allowing compact talks with Washington, D.C.<\/strong> to proceed. The case is a critical precedent for Martinez and the State of New Mexico. If the Pojoaque prevail, the administrations current and future will be dealing from a position of weakness in compact negotiations.<\/p>\n

The tribe, for its part, claims Martinez is not negotiating in good faith. In a solomonic move,\u00a0Senior U.S. District Judge James A. Parker<\/strong> denied the injunction but\u00a0expedited the trial date, much to the state’s gratification.<\/p>\n","protected":false},"excerpt":{"rendered":"

There is discernible evidence that the anti-corruption crackdown in China is redounding to Las Vegas‘ benefit. According to a report by Deutsche Bank‘s Carlo Santarelli, “we do see a relatively compelling empirical case that supports the view that anti-corruption crackdowns … 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":[44,14,62,11,71,9,100,20],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/14542"}],"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=14542"}],"version-history":[{"count":3,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/14542\/revisions"}],"predecessor-version":[{"id":14548,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/14542\/revisions\/14548"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=14542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=14542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=14542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}