{"id":19586,"date":"2017-04-07T08:52:19","date_gmt":"2017-04-07T16:52:19","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=19586"},"modified":"2017-04-07T08:54:51","modified_gmt":"2017-04-07T16:54:51","slug":"temporary-relief-for-illinois-citycenter-for-sale","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/temporary-relief-for-illinois-citycenter-for-sale\/","title":{"rendered":"Temporary relief for Illinois; CityCenter for sale?"},"content":{"rendered":"

As a huge gambling expansion works its way through the Legislature, casino owners in Illinois<\/strong> must feel like condemned men awaiting the execution. At any rate, it behooves them to gather roses while yet \"\"they may. Fortunately, gamblers felt like playing last month, propelling revenues up 3%. There were 2% fewer patrons but they spent 5.5% more. Penn National Gaming<\/strong>‘s Hollywood Aurora<\/strong> rocketed 18.5% upward ($12 million), while its Argosy Belle<\/strong> was flat ($4.5 million) and its Empress Joliet<\/strong> rose 3%, to $11 million. Boyd Gaming<\/strong> was not so fortunate, as long-suffering Par A Dice<\/strong> fell 8.5% to $7.5 million, well below analyst expectations. GLPI<\/strong>‘s Casino Queen<\/strong> in East St. Louis<\/strong> was up just a bit (1%) for a $10 million take.<\/p>\n

Jumer’s Casino Rock Island<\/strong> was one of the few revenue-negative properties, dropping a percentage point to gross $6.5 million. Neil Bluhm<\/strong>‘s Rivers Casino<\/strong> posted a competition-crushing $39 million, a 5% increase. MGM Resorts International<\/strong> made 6% more at Grand Victoria<\/strong>, grossing $16 million. Harrah’s Metropolis<\/strong> did 3.5% greater, to gross $7 million, while Harrah’s Joliet<\/strong> didn’t do so well, down 3% to $16 million and change — still good enough for second place in the state. Enjoy it while you can, guys. The “Grand Bargain” is galumphing through the Lege. In addition to a major casino expansion, including one in Chicago<\/strong>, it would contain a significant increase in personal income taxes<\/a>. So it’s bad news all around.<\/p>\n

* At the risk of burying the lead, Carlo Santarelli<\/strong> of Deutsche Bank<\/strong> speculates that says CityCenter<\/strong> could be for sale. Let him tell you himself: “Most believe there to be the potential for a deal involving City Center, or aspects of City Center, though it doesn\u2019t appear to be driving the incremental investment dollar.” What do you make of that?<\/p>\n

* Things aren’t looking good for The Crown 18<\/strong>. Public Security Minister Guo Shengkun<\/strong> told Xinhua News Agency<\/strong>, \u201cWe must seriously investigate and severely punish those companies and \"\"individuals involved in enticing and organising Chinese tourists to gamble in overseas casinos,” he said. \u201cWe must severely punish those casino-related illegal labour agents and crack down on activities for investing in overseas casinos.\u201d<\/p>\n

Overseas casinos are a particular burr under the Chinese government’s saddle. For almost two years, China<\/strong> has been running an operation called Chain Break<\/strong>, to both constrain foreign casinos’ access to Chinese funds and the ability of their agents to recruit players from the People’s Republic. The government’s aim is to keep players going to Macao<\/strong> and it’s counting on tensions over the deployment of U.S. missiles<\/a> to South Korea<\/strong>\u00a0to keep punters away from the latter country. Indeed, in a radical event, a shipload of Chinese tourists actually\u00a0refused to disembark<\/a> at Korean gambling haven Jeju Island<\/strong>. Considering the love of gambling that pervades China, such a display demonstrates serious patriotic resolve. Is pretty dramatic.<\/p>\n