{"id":19794,"date":"2017-06-02T09:34:35","date_gmt":"2017-06-02T17:34:35","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=19794"},"modified":"2023-08-18T02:47:10","modified_gmt":"2023-08-18T10:47:10","slug":"galaxy-targets-japan-tribes-expand-connecticut-demands","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/galaxy-targets-japan-tribes-expand-connecticut-demands\/","title":{"rendered":"Galaxy targets Japan; Tribes expand Connecticut demands"},"content":{"rendered":"

“We believe that Japan<\/strong> has a huge opportunity to create something unique that doesn\u2019t just follow the Vegas model seen in many other \"\"markets around the world.\u201d With those words, Galaxy Entertainment<\/strong> President Michael Mecca<\/strong> announced that Galaxy was in the race for a Japanese casino<\/a>. It will be partnering with Soci\u00e9t\u00e9 des Bains de Mer et du Cercle des \u00c9trangers \u00e0 Monaco<\/strong>. \u201cJapan is the number one priority for us and is the market with the biggest potential,\u201d remarked Mecca, uttering a sentiment with which many of his rivals would agree. \u201cWe believe the Galaxy Entertainment and SBM partnership represents something completely different to all other IR operators \u2013 with our collective brand offering the best of Asia and the best of Europe<\/strong>. We feel it\u2019s a market where we can make the biggest impact.\u201d<\/p>\n

In the meantime, Global Market Advisors<\/strong> has issued a report stating that Japanese casino concessions are unlikely to be awarded until the autumn of 2019, with opening a further four years away. Mecca kept his counsel on where Galaxy and SBM wanted to open, saying, \u201cOnly those locations where we can add considerable \"\"stakeholder value \u2013 working with strong partners and the local community to ensure success, will be considered.\u201d Does this mean Fukuoka<\/strong>, Hokkaido<\/strong> and Wakayama<\/strong> are out? They hope not. He did note that Galaxy had invested $6.4 billion in Macao and had $2.6 billion cash on hand, “ensuring that we could start a project in Japan very quickly.\u201d Mecca refrained, however, from the gaudy promises made by Lawrence Ho<\/strong>, Sheldon Adelson<\/strong> and Jim Murren<\/strong>. He also took a shot at my-way-or-the-highway rivals by saying, \u201cUnlike our competitors, we believe that Japanese companies have the ability to develop IRs by themselves.” One Japanese ally already secured is Okura Hotels<\/strong>, which is a starting point, at the very least. So far, Galaxy is saying all the right things. Whether that translates into a casino license remains to be seen.<\/p>\n

* Throwing an anaconda-sized monkey wrench into legislative wrangling over a satellite casino in East Windsor<\/strong>, casinos Mohegan Sun<\/strong> and Foxwoods Resort Casino<\/strong> have proposed supersizing the enabling legislation by adding slot parlors<\/a> in Bridgeport<\/strong> (checkmating MGM Resorts International<\/strong>, which covets the market), New Haven<\/strong>\u00a0and Waterbury<\/strong>. The hourglass is running on the Legislation and the East Windsor casino isn’t a done deal so why tribal joint-venture MMTC — pardon the expression — veer off the reservation like this?<\/p>\n

First off, the idea seems to have originated somewhere in the Democratic caucus, and Foxwoods and Mohegan Sun pounced. The tribes would pay $25 million up front, to be prorated against their \"\"future slot revenues at the OTBs in question. They also threatened to sit out any open-bidding process if the Lege goes in that direction. (The Senate hasn’t but the House is an open question.) MGM counsel Uri Clinton<\/strong> was quick to take the bait. “This latest ‘offer’ from MMCT is not an ‘offer’ to pay the state a one-time licensing fee. It’s an ‘offer’ to loan the state $25 milion. That’s right, it’s loan,” he blasted. The satellite-casino issue is so fraught with peril for MMTC that the latter seems to be playing with dynamite with this perilous proposal. Then again, the Nutmeg State likes nothing so much as the sight of Pequot and Mohegan cash, so lawmakers might go for this latest twist in the plot.<\/p>\n

* Internet<\/strong> gambling isn’t dead quite yet in Illinois<\/strong>, where the House holds the fate of legalized DFS and ‘Net betting in its hands<\/a>. They’ve passed out of the Senate, despite the opposition of casino mogul — and ‘george’ Democratic Party<\/strong> donor —\u00a0Neil Bluhm<\/strong>, who views DFS as competition to brick-and-mortar casinos … namely his, the most lucrative in Illinois. The numbers are pretty rosy but might be just big enough to tip the Lege into action.<\/p>\n

* How well is the Lucky Dragon Casino<\/strong> doing? So well that it is credited with driving the 22% monster leap<\/a> in Downtown Las Vegas<\/strong> casino revenues. Since it is on the north side of Sahara Avenue<\/strong> (and therefore within city limits), the Lucky Dragon qualifies — just barely as a Downtown casino.<\/p>\n","protected":false},"excerpt":{"rendered":"

“We believe that Japan has a huge opportunity to create something unique that doesn\u2019t just follow the Vegas model seen in many other markets around the world.\u201d With those words, Galaxy Entertainment President Michael Mecca announced that Galaxy was in … 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":[51,14,166,201,58,37,171,206,62,11,167,91,33,31],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/19794"}],"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=19794"}],"version-history":[{"count":2,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/19794\/revisions"}],"predecessor-version":[{"id":32862,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/19794\/revisions\/32862"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=19794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=19794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=19794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}