{"id":19838,"date":"2017-06-15T07:28:16","date_gmt":"2017-06-15T15:28:16","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=19838"},"modified":"2017-06-15T07:28:16","modified_gmt":"2017-06-15T15:28:16","slug":"better-times-come-to-atlantic-city-wynn-boston-harbor-sets-opening-date","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/better-times-come-to-atlantic-city-wynn-boston-harbor-sets-opening-date\/","title":{"rendered":"Better times come to Atlantic City; Wynn Boston Harbor sets opening date"},"content":{"rendered":"

May’s gambling grosses are in from the Boardwalk and Atlantic City<\/strong> is up 2.5% since last year — 11% if Trump Taj Mahal<\/strong> is subtracted from \"\"the comparison. Terrestrial casinos pulled in $208 million, while Internet<\/strong> gambling grossed a further $21 million (up 27%). Golden Nugget<\/strong> continues to dominate the Internet sphere, holding 28% of market share, while the rest is fairly evenly divided between its rivals. Borgata<\/strong> grossed a healthy $60.5 million (up 12%). Slot winnings were flat, despite higher handle but Borgata cleaned up at the tables, winning 42% more on 3% less wagering.<\/p>\n

The Caesars Entertainment<\/strong> trio was up, on the strength of a powerful performance by Caesars Atlantic City<\/strong>, gaining 24.5% to $29.5 million. Bally’s<\/strong> ($18 million) was flat, as was Harrah’s Resort<\/strong> ($29.5 million). Resorts Atlantic City<\/strong> rose 10% to $15 million, Tropicana Atlantic City<\/strong> was prospering, up 21% to $29 million, and Golden Nugget<\/strong> gained 5% for a $19 million, Citywide, table games were a pillar of strength, up 19%, more than making up for an anemic (-3.5%) month at the slots.<\/p>\n

* We don’t cover the Detroit<\/strong> market much because, frankly, not much happens in it. However, JP Morgan<\/strong>\u00a0has initiated coverage of Detroit, so there will probably be a greater number of dispatches from that front. Casinos in Motown grossed $120 million last month and, although it was out front with $50.5 million, MGM Grand Detroit<\/strong> was off its feed, down 3%. MotorCity Casino<\/strong> grossed $41 million for a 4% gain and Dan Gilbert<\/strong>‘s Greektown Casino<\/strong> also rose 4% for a $29 million finish.<\/p>\n

* How expensive is Wynn Boston Harbor<\/strong>? Try $2 million a day, according to company sources<\/a>. Management is so confident that it has set the opening right down to the minute: 8 p.m. on June 24, 2019. (I \"\"don’t know if the date holds significance for Steve Wynn<\/strong> or if he merely published it to discourage lallygagging.) The casino’s shape is already discernible, although the parking garage is currently the furthest along of the property’s structures. The design — virtually identical to Wynn Las Vegas<\/strong> and Wynn Macau<\/strong> — may not blaze any new trails for Wynn Resorts<\/strong> but the excitement of seeing it take shape is infectious.<\/p>\n

* One Wynn prophecy that never came true was that we would see the “unbundling” of Las Vegas<\/strong> during the Great Recession. Instead, Phil Ruffin<\/strong> bought Treasure Island<\/strong> and That Was It. To this day, the industry continues to contract<\/a>, giving us journalists less to write about. \"\"Cannery Casino Resorts<\/strong> and Aliante Casino<\/strong> were gobbled up by Boyd Gaming<\/strong> like so many Skittles, Station Casinos<\/strong> absorbed the Palms<\/strong>, relative newcomer Golden Entertainment<\/strong> has taken American Casino Entertainment Properties<\/strong> off the board and SLS Las Vegas<\/strong> has been shopped to small-time operator Meruelo Group<\/strong> — how the not-so-mighty have fallen. It’s a measure of how problematic SLS is that Stockbridge Capital<\/strong> had to go to Reno<\/strong> to find a buyer and even had to settle for a second-tier operator, Eldorado Resorts<\/strong> evidently having no great lust for SLS.<\/p>\n

Fitch Ratings<\/strong> analyst Alex Bumazhny<\/strong> pegs Affinity Gaming<\/strong> as the next company to try and move upward in the gaming world: \u201cThey have a decent-size portfolio both in Nevada<\/strong> as well as a couple properties out of state.\u201d If they do, we hope Affinity cleans up its act. We’ve stayed at three Affinity properties in Primm<\/strong> and are hard-pressed to say anything in their favor. It’s a brand identity that wouldn’t necessarily benefit the customer if extended to a larger scale.<\/p>\n","protected":false},"excerpt":{"rendered":"

May’s gambling grosses are in from the Boardwalk and Atlantic City is up 2.5% since last year — 11% if Trump Taj Mahal is subtracted from the comparison. Terrestrial casinos pulled in $208 million, while Internet gambling grossed a further … 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":[173,65,23,88,60,73,154,44,97,81,7,37,112,11,167,78,159,119,195,57,32,129,21,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/19838"}],"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=19838"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/19838\/revisions"}],"predecessor-version":[{"id":19839,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/19838\/revisions\/19839"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=19838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=19838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=19838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}