{"id":14726,"date":"2014-10-08T09:44:36","date_gmt":"2014-10-08T17:44:36","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=14726"},"modified":"2014-10-08T10:29:19","modified_gmt":"2014-10-08T18:29:19","slug":"okada-going-slowly-mixed-news-in-indiana","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/okada-going-slowly-mixed-news-in-indiana\/","title":{"rendered":"Okada going slowly; Mixed news in Indiana"},"content":{"rendered":"

Kazuo Okada<\/strong> is butting heads with the Philippine government again. The latter says Okada has to have Marina Bay Resorts<\/strong> open by March of next year \"Tiger-Resort-Okada-Manila-Bay-Resorts_01-e1402018244904\"<\/a>or forfeit a $2 million guarantee<\/a>. Okada, whose project has been dogged by regulatory problems, is sticking to a late 2015 deadline<\/a>.\u00a0\u201cWe are still doing our utmost to be open by the end of 2015,\u201d said\u00a0Executive Vice President of Gaming Operations &\u00a0Marketing Matt Hurst<\/strong>, making it sound as though that two mil is as good as gone.<\/p>\n

The casino, when it opens, will be a behemoth that sports 3,000 slots and 500 table games. Okada, however is shopping for the mandated Philippine majority partner. The courts are enforcing a shotgun wedding<\/a> between Okada’s companies and retail\/condo developer Century Properties<\/strong>. No local partner, no casino<\/a>. Fortunately for Okada, Century has chosen this moment to make conciliatory noises about resuming the nuptials. Said a Century spokeswoman, “if it will be the same terms we\u2019re amenable to do that but there is no formal agreement yet.\u201d<\/p>\n

That doesn’t get Okada out of the woods, however, as he needs a real estate partner, too. Lacking that, he only gets a temporary casino license. At least that’s a quantifiable goal, unlike the nebulous “condition imposed on the licensees is that they create properties that compete with the best that Macau<\/strong>, Singapore<\/strong> and Las Vegas<\/strong> have to offer in order to attract overseas players.”<\/p>\n

* There’s a silver lining inside Indiana<\/strong>‘s dark, -8.5% decline in gaming \"Ameristar<\/a>revenues for September. Eleven percent fewer people played but they spent 2% more apiece. Leading the state in percentage was Tropicana Evansville<\/strong>, up 7% on revenue of $10 million. Ameristar East Chicago<\/strong> was flat but main competitor Horseshoe Hammond<\/strong> took a 12% dive (but still grossed a state-best $34 million). The two Majestic Star<\/strong> riverboats were off 4% and 18.5%, respectively, while over in Michigan City<\/strong>, revenues took a 3% dip aboard\u00a0Boyd Gaming<\/strong>‘s Blue Chip<\/strong>.<\/p>\n

Indiana Downs<\/strong> did the better of the racinos, down 1% to Hoosier Park<\/strong>‘s 7%. As for those casinos fighting the Ohio<\/strong> market, Hollywood Lawrenceburg<\/strong> is a shadow of its former self, off 25% and grossing only $14 million. Despite the existence of a Belterra<\/strong>-branded property in Ohio, the original is steadying itself, off only 6%. Would that the same could be said for Rising Star<\/strong>, grossing a miserable $4 million and 26% off last year’s pace. Relatively removed from the Ohio\/Indiana wars, Horseshoe Southern Indiana<\/strong> gave an average performance, down 8%.\u00a0Cincinnati<\/strong>-area casinos may be giving a mixed performance but they’ve definitely torn a strip off southern Indiana.<\/p>\n","protected":false},"excerpt":{"rendered":"

Kazuo Okada is butting heads with the Philippine government again. The latter says Okada has to have Marina Bay Resorts open by March of next year or forfeit a $2 million guarantee. Okada, whose project has been dogged by regulatory … 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":[60,7,68,22,188,71,69,30,111,25,21],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/14726"}],"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=14726"}],"version-history":[{"count":2,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/14726\/revisions"}],"predecessor-version":[{"id":14731,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/14726\/revisions\/14731"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=14726"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=14726"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=14726"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}