{"id":19730,"date":"2017-05-16T07:48:47","date_gmt":"2017-05-16T15:48:47","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=19730"},"modified":"2021-03-11T05:01:53","modified_gmt":"2021-03-11T13:01:53","slug":"pelican-brief-miami-beach-bans-casinos","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/pelican-brief-miami-beach-bans-casinos\/","title":{"rendered":"Pelican Brief; Miami Beach bans casinos"},"content":{"rendered":"

Despite having one less weekend day this year, April was a good month for Louisiana<\/strong>, as gambling revenue rose 5%. The growth was especially \"\"dramatic in the Pelican State\u00a0market, up 19%. By contrast, Shreveport\/Bossier City<\/strong> was down 3%. The increase was especially dramatic at Harrah’s New Orleans<\/strong>, up 42.5% (no, that’s not a typo). So much for the allegedly pernicious effects of the smoking ban. Smoke-free Fair Grounds<\/strong> racino was up 7%, as the two casinos grossed $35 million and $3 million respectively. Elsewhere in the Crescent City, Boyd Gaming<\/strong>‘s Treasure Chest<\/strong> was down 4%, to $9.5 million, and Pinnacle Entertainment<\/strong>‘s Boomtown<\/strong>\u00a0riverboat notched a 1% gain to $10 million.<\/p>\n

It was an adverse month for Boyd properties pretty much everywhere. Amelia Belle<\/strong> was off 11%, to $4 million, Delta Downs<\/strong> slipped 8% to $14.5 million, Evangeline Downs<\/strong> dipped 4%, to $7 million, and Sam’s Town<\/strong> in Shreveport<\/strong> was 4% off its feed, grossing $6.4 million. Caesars \"\"Entertainment<\/strong> had an unusually good month at Harrah’s Louisiana Downs<\/strong>, up 6% to $4 million, but not at Horseshoe Bossier City<\/strong>, down 7% to $14 million. \u00a0The area’s star performer was Margaritaville<\/strong>, up 10% to $13.5 million. By contrast, normally reliable Eldorado Shreveport<\/strong> was off 9%, to $11 million, and Diamond Jack’s<\/strong> suffered a calamitous 26.5% plunge in revenue, never very big to begin with.<\/p>\n

Except for L’Auberge Baton Rouge<\/strong> (of course), the market in “Red Stick” was pretty ‘meh.’ L’Auberge grossed $15 million, good for a 6% increase. GLPI<\/strong>‘s Casino Rouge<\/strong> was flat at $6 million, the same amount as grossed by Tropicana Entertainment<\/strong>‘s Belle of Baton Rouge<\/strong>, down 4.5%. And last, but far from least, the juicy Lake Charles<\/strong> market was dominated by L’Auberge du Lac<\/strong>, up 16% to $29 million.\u00a0Golden Nugget<\/strong> eked out a 3% gain, for $23 million and Isle of Capri<\/strong> grossed $10 million, a 9% setback.<\/p>\n

* If anything might cool Sheldon Adelson<\/strong>‘s ardor for a Japanese casino it’s a Morgan Stanley<\/strong> report that overseas casino operators can only hope for 40% shares in any gambling houses they build. The \"\"prospect of Adelson being a back-seat driver on a $10 billion megaresort borders on the inconceivable and we know how poorly he plays with others. (Just ask Lui-Che Woo<\/strong> and Mark Davis<\/strong>.) By contrast, Hard Rock International<\/strong> has been broadcasting its willingness to be a minority partner in a Japanese casino on all frequencies.<\/p>\n

“We suspect the most likely shareholding structure could be 40% (main local partner), 40% (foreign operator), and 20% (all other local partners),\u201d wrote analysts Praveen Choudhary<\/strong> and Thomas Allen<\/strong>. They tipped Osaka<\/strong> and Yokohama<\/strong> as the likeliest locations, with Tokyo<\/strong> lurking in the wings. As for a smaller, regional casino, Choudhary and Allen picked Sasebo<\/strong>, “given existing infrastructure, support from the city\/prefecture, and proximity to China<\/strong>.” If Osaka is chosen for a mega resort, its proximity to Wakayama<\/strong> would pretty much squelch Wakayama’s chances<\/a>, observers say. Already, as we’ve reported, Mayor\u00a0Masahiro Obana<\/strong>‘s preference for a gaijin<\/em>-only casino makes for an unpromising business model, too.<\/p>\n

\u201cI personally think the Singaporean way would be sufficient as a restriction. But Japanese are perfectionist \u2013 even if there is a 1% of chance that a person can become addicted, then there would be opposition. And we would like to eliminate that opposition from the beginning,\u201d said Wakayama Governor\u00a0Yoshinobu Nisaka<\/strong>.<\/p>\n