{"id":15514,"date":"2015-02-13T10:24:44","date_gmt":"2015-02-13T18:24:44","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=15514"},"modified":"2021-11-03T06:23:48","modified_gmt":"2021-11-03T14:23:48","slug":"indian-giver-wins-big-in-atlantic-city-positive-quarters-for-pinnacle-boyd","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/indian-giver-wins-big-in-atlantic-city-positive-quarters-for-pinnacle-boyd\/","title":{"rendered":"Indian giver wins big in Atlantic City; Positive quarters for Pinnacle, Boyd"},"content":{"rendered":"

Fourteen gamblers are $1.5 million lighter in the wallet after a New Jersey<\/strong> judge ordered them to pay restitution to the Golden Nugget Atlantic City<\/strong>. At issue was the Nugget’s use of \"Golden<\/a>“pre-shuffled” card packs that were nothing of the sort. Once the mini-baccarat players copped to the repetitive sequence of the cards, they bet accordingly and cleaned the casino out, winning 41 consecutive hands. (That should have tipped somebody<\/em> in management off.) However, although Judge Donna Taylor<\/strong> deemed the games illegal under Garden State law, she put the onus of her ruling on the players, not the non-compliant casino. They’ll have to return $1 million in chips, plus $500,000 in cash.<\/p>\n

“The dealer did not pre-shuffle the cards immediately prior to the commencement of play, and the cards were not pre-shuffled in accordance with any regulation.\u00a0Thus, a literal reading of the regulations … entails that the game violated the [Casino Control<\/strong>] Act<\/strong>, and consequently was not authorized,” wrote Taylor. Even so, the little guys lost and the Golden Nugget got off scot-free for its lack of due diligence.<\/p>\n

* Pinnacle Entertainment<\/strong> reported one cent less profit per share<\/a> in its 4Q14 conference call and predicted its REIT spinoff would take until 2016 to complete. Prior to the opening of \"Sanfilippo,Anthony_newpromo*280\"<\/a>nearby Golden Nugget Lake Charles<\/strong>, Pinnacle CEO Anthony Sanfilippo<\/strong> told me the entry of Tilman Fertitta<\/strong> into the market would only help his own L’Auberge du Lac<\/strong>. Yesterday, he reveled in the confirmation of his prediction, saying, \u201cSo far, the Golden Nugget has had a positive impact on visitor and gaming volumes in the Lake Charles<\/strong> market. The initial increase in guest visitation supports our long-held view that the market would grow substantially with the addition of a high quality gaming entertainment resort.\u201d<\/p>\n

* Wall Street<\/strong> analysts were impressed with how consistently undervalued\u00a0Boyd Gaming<\/strong>
\n\"California<\/a>closed out 2014, posting numbers well in excess of consensus estimates. Boyd CEO Keith Smith<\/strong> also announced an aggressive program of capex investments for next year, both in terms of renovations and new amenities, mostly of the non-gaming variety. He added that it’s “still too early” to declare victory on the Las Vegas<\/strong> locals market, despite positive trends in that sector, their best pre-Great Recession quarter<\/a>. One-time charges (something the industry almost always stashes in the fourth quarter) turned a profit into a $32 million net loss. Boyd will make that back with an anticipated $88 million property-tax settlement with Atlantic City<\/strong>. Strong patronage from Hawaii<\/strong> propped up a weak quarter<\/a> Downtown.<\/p>\n","protected":false},"excerpt":{"rendered":"

Fourteen gamblers are $1.5 million lighter in the wallet after a New Jersey judge ordered them to pay restitution to the Golden Nugget Atlantic City. At issue was the Nugget’s use of “pre-shuffled” card packs that were nothing of the … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":6769,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[23,60,51,14,84,30,31,129,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/15514"}],"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=15514"}],"version-history":[{"count":7,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/15514\/revisions"}],"predecessor-version":[{"id":30276,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/15514\/revisions\/30276"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media\/6769"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=15514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=15514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=15514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}