{"id":16559,"date":"2015-08-12T12:52:09","date_gmt":"2015-08-12T20:52:09","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=16559"},"modified":"2015-08-13T08:50:41","modified_gmt":"2015-08-13T16:50:41","slug":"business-heats-up-in-detroit-cools-in-manila","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/business-heats-up-in-detroit-cools-in-manila\/","title":{"rendered":"Business heats up in Detroit, cools in Manila"},"content":{"rendered":"

Ohio<\/strong>? What’s Ohio? Casinos in Detroit<\/strong> may as well ask that as they continue to recover from the dent in their business made by the Buckeye State. July revenues were up 3% and, \"Lion<\/a>for the year to date, casino revenues are up nearly 5%. Unfortunately, Dan Gilbert<\/strong> can’t catch a break these days<\/a>, as revenue fell 4% at Greektown Casino-Hotel<\/strong> ($27 million). Lately, casino revenue has been as elusive for the Cleveland Cavaliers<\/strong> owner as an NBA<\/strong> trophy. What Greektown lost, MotorCity<\/strong> more than gained, up 6% to $39 million. Predictably, MGM Grand Detroit<\/strong> continued to reign supreme, up 5% and banking 49%. The MGM really is a case of building a better mousetrap and having the world — well, Michigan<\/strong>, anyway — beat a path to your door.<\/p>\n

* Casinos and racinos in Maryland<\/strong> are taxed to within an inch of their life (60% for slots), so it’s not entirely surprising that — with the addition of Horseshoe Baltimore<\/strong> — state gaming-tax revenues crested the billion-dollar mark for the first time in FY2015. Most of that ($525 million) came from the lottery, actually, but casinos were good for $487 million<\/a>, a 19% increase. Casino revenue as a whole also eked its way across the $1 billion mark, of which a very small amount ($10 million) went to women- and minority-owned businesses and small businesses. July saw $99 million in casino business; anyone want to lay odds that the gaming houses cross the century mark in August?<\/p>\n

* Melco Crown Entertainment<\/strong> is facing troubles in the Philippines<\/strong>, where it just furloughed 100 employees in response to increasing losses<\/a>. City of Dreams Manila<\/strong> had banked heavily on drawing Chinese punters (especially those avoiding Macao<\/strong>) but has found that they’re migrating to South Korea<\/strong> instead, even Australia<\/strong>, for a bit of a flutter. The timing of the news, coming a few months ahead of the opening of Studio City<\/strong> in Macao, is hardly auspicious. As for City of Dreams Manila, with its Nobu Hotel<\/strong>, DreamWorks<\/strong> amusement park and two nightclubs, it seems to be trying hard to be something for everyone.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ohio? What’s Ohio? Casinos in Detroit may as well ask that as they continue to recover from the dent in their business made by the Buckeye State. July revenues were up 3% and, for the year to date, casino revenues … 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":[103,145,44,14,117,7,62,72,93,11,71,192,187,31],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/16559"}],"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=16559"}],"version-history":[{"count":3,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/16559\/revisions"}],"predecessor-version":[{"id":16564,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/16559\/revisions\/16564"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=16559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=16559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=16559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}