{"id":19071,"date":"2016-11-02T07:30:17","date_gmt":"2016-11-02T15:30:17","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=19071"},"modified":"2016-11-02T07:51:17","modified_gmt":"2016-11-02T15:51:17","slug":"boyd-the-big-squish-trumps-double-dip","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/boyd-the-big-squish-trumps-double-dip\/","title":{"rendered":"Boyd: The big squish; Trump’s double-dip"},"content":{"rendered":"

“Squishy.” That was how JP Morgan<\/b> analyst Joseph Greff<\/b> described Boyd Gaming<\/b>‘s third quarter. The soggy verbiage was probably inspired by flooding that has vexed Boyd in Louisiana<\/b>. The company is also facing stiff, new competition for IP Biloxi<\/b> on the \"EastsideMississippi<\/b> Gulf Coast and continued adversity from slot routes around Par-A-Dice<\/b> in Illinois<\/b>. But even though the company backed some anticipated Aliante Casino<\/b> and Cannery Casino Resorts<\/b> revenue out of its 4Q16 projections, Greff wrote, “We continue to see a solid LV Locals macro (population, job, wages are all moving in the right direction: up).” While noting many of the same pluses and minuses, Deutsche Bank<\/b> analyst Carlo Santarelli<\/b> was more circumspect in his forecast, warning that an increase in Affordable Care Act<\/b> premiums could impinge upon discretionary spending, causing him to project very modest revenue growth going forward. This is the first time I’ve seen Obamacare referenced in an analyst note, giving Santarelli’s preview the aspect of novelty. \u00a0The Borgata<\/b> sale provided a one-time, $900 million cash infusion, contributing to a $2.97\/share profit.<\/p>\n

* The American Gaming Association<\/b> continues to beat the drum for legalized sports betting. It has released a poll showing Americans favoring legitimized sports wagering 48% to 39%. Also, The Associated Press<\/b> reports that New Jersey<\/b> lawmakers, the bit firmly in their teeth, are going to try and make another end run around the Bradley Act<\/b>. This time, they would repeal the state’s regulations on sports betting and pass a new, simplified version. Whether it works is anybody’s guess (the odds are long) but it’s worth trying.<\/p>\n

* All of Donald Trump<\/b>‘s casinos are closed, demolished or sold. But they’re still making headlines. On Halloween (aptly enough), the New York Times<\/i> reported that The Donald had used some dubious debt-for-stock swaps to get out of tax obligations. He also took deductions on losses that should only have been available to his long-suffering bond holders. As one tax expert put it, “He’s double-dipping big time.” We would expect no less.<\/p>\n

* The Deutsche Bank era at Station Casinos<\/b> will soon be ending. The bank, whose stake in Station has been whittled down to 17% over the years, will be zeroing out its ownership according to The Financial Times<\/I>. The Fertitta brothers will acquire Deutsche Bank’s shares, valued at $400 million. The Culinary Union<\/b> has long harped to Nevada<\/b> regulators on the scandal-plagued bank’s position in Station and can look on this as a win but will probably instead regret having one less stick with which to beat the Fertittas.<\/p>\n","protected":false},"excerpt":{"rendered":"

“Squishy.” That was how JP Morgan analyst Joseph Greff described Boyd Gaming‘s third quarter. The soggy verbiage was probably inspired by flooding that has vexed Boyd in Louisiana. The company is also facing stiff, new competition for IP Biloxi on … 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":[23,60,73,151,42,14,174,58,84,35,25,74,57,31,169,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/19071"}],"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=19071"}],"version-history":[{"count":4,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/19071\/revisions"}],"predecessor-version":[{"id":19077,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/19071\/revisions\/19077"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=19071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=19071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=19071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}