{"id":20094,"date":"2017-08-21T07:32:24","date_gmt":"2017-08-21T15:32:24","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=20094"},"modified":"2020-04-13T06:13:46","modified_gmt":"2020-04-13T14:13:46","slug":"fertitta-scourges-pelican-state-rules-macao-biz-booms-for-wynn","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/fertitta-scourges-pelican-state-rules-macao-biz-booms-for-wynn\/","title":{"rendered":"Fertitta scourges Pelican State rules; Macao biz booms for Wynn"},"content":{"rendered":"

“Let’s not kid ourselves: that barge is concrete. It’s not going anywhere.” With those words, Tilman Fertitta<\/strong> launched one of several broadsides<\/a> at absurd Louisiana<\/strong> regulations on casinos. Not only do Pelican State casinos still have to sit in water, they must \"\"have a visible paddle wheel, even if aforesaid barge is “not going anywhere.” Fertitta also ripped the state’s per-casino limit on slot machines and $100,000\/year barge inspection, which he reckons have cost him $10 million. Taxation of free play offered by private-sector casinos (but not tribal\u00a0ones) was another burr under Fertitta’s saddle.<\/p>\n

Fertitta’s message wasn’t entirely negative. He urged Louisiana to get on the Internet<\/strong>-gambling bandwagon, predicting it could be legal in as many as 25 states by 2022. In the meantime, Fertitta has to wonder if the New Orleans<\/strong> and Baton Rouge<\/strong> smoking bans will spread to Lake Charles<\/strong>, in which case he fears his customers will flee to Native American\u00a0casinos.<\/p>\n

Despite an unfavorable calendar, Louisiana casino revenues were up 2% last month, fueled in no small part by a 10% surge in Baton Rouge<\/strong>. Company-wide, Pinnacle Entertainment<\/strong>\u00a0was down 2%, Boyd Gaming<\/strong> was flat and\u00a0Caesars Entertainment<\/strong> rose 7%. In Baton Rouge, Pinnacle’s L’Auberge Baton Rouge<\/strong> led the way, up 12% on $16 million. That’s more than Gaming & Leisure Properties<\/strong>‘ Hollywood Baton Rouge<\/strong> (up 8%; $6 million) and Tropicana Entertainment<\/strong>‘s Belle of Baton Rouge<\/strong> ($5 million, up 6%) combined.<\/p>\n

In Lake Charles, Pinnacle’s L’Auberge du Lac<\/strong> still led the pack with $31 million but it is losing market share (down 8%) and \"\"Fertitta’s Golden Nugget<\/strong> ($30 million, up 25%) is breathing down its neck. Isle of Capri<\/strong> lost 11% to finish at $11.5 million. Boyd Gaming’s Delta Downs<\/strong> gained 4% to $17 million and its Evangeline Downs<\/strong> grossed $7 million, a 2% decline.<\/p>\n

In the Shreveport<\/strong>\/Bossier City<\/strong>, it was a very bad month for Eldorado Shreveport<\/strong>, down 15% to $11 million and Diamond Jack’s<\/strong>, plummeting 23.5% to $3.5 million. Horseshoe Bossier City<\/strong> gained 6% for a market-leading $18 million while Harrah’s Louisiana Downs<\/strong> gained 13% to finish at $4 million. Somewhere in between was Sam’s Town<\/strong>, off 5% to $7 million.<\/p>\n

\"\"Boyd was up 2% at Treasure Chest<\/strong> in Kenner<\/strong>, grossing $9.5 million. Pinnacle’s Boomtown New Orleans<\/strong> was off 2% for a $10 million finish. Harrah’s New Orleans<\/strong> shrugged off the smoking ban, up 7% to $24 million and Churchill Downs<\/strong>‘ Fair Grounds<\/strong> racino slipped 3% to $3.3 million. Boyd’s Amelia Belle<\/strong>\u00a0(above<\/em>) was down 8% to $4 million.<\/p>\n

* Pennsylvania<\/strong>‘s legislature has punted Internet gambling and other hot-potato issues, like DFS, into the autumn session<\/a>, hoping against hope that a brief delay will magically create consensus. Slot routes seem to be fading as a means of bridging the Keystone State’s budget gap, since slot play is marginally down. As for table-game revenue, Sands Bethlehem<\/strong> is crushing the competition with $20.5 million, while Parx Casino<\/strong> comes straggling behind with $15 million. Mount Airy Casino<\/strong> was a real coffee achiever, up 45% to $3.5 million in table revenue.<\/p>\n

* In Macao<\/strong>, they’re feeling no pain at Wynn Macau<\/strong>. The VIP-oriented casino grew $60 million<\/a> in 1H17, for a total of $204.5 million. Wynn Resorts<\/strong> was at some pains to play down the good \"\"news, saying in a conference call, saying, \u201cThe overall effect of the [anti-graft] campaign and monetary transfer restrictions may negatively affect our revenues and results of operations.\u201d Even so, things are looking sunny for now. Yet, Moody’s Investor Service<\/strong>\u00a0analyst Keith Foley<\/strong> says, “With China<\/strong> setting the rules when it wants, Macao has always been a high-risk, high-reward market.”<\/p>\n

* Foxwoods Resort Casino<\/strong> CEO Felix Rappaport<\/strong>‘s latest idea for boosting business can be summarized in two words: thrill rides<\/a>. The resort is already working of a 33-story-tall zip line. Soon it will also have the Sky Launch<\/strong>, which will shoot pairs of riders up into the sky and whisk them back down again, and the Sky Drop<\/strong>\u00a0— a 120-foot free fall. We’ve got a word for Foxwoods’ big plans: Stupakular<\/a>!<\/p>\n

* “Wait ’til next year,” the old lament of Brooklyn Dodger<\/strong> fans \"\"has become the motto for Japanese casinos. It now looks as though no Japan<\/strong>-based megaresort will open before 2024. Moody’s predicts two integrated resorts, in Osaka<\/strong> and Yokohama<\/strong> and operated by Las Vegas Sands<\/strong> and MGM Resorts International<\/strong>, not necessarily in that order, and two smaller casinos in Nagasaki<\/strong> and Hokkaido<\/strong>. Nobody’s picking the likely third- and fourth-place finishers yet, although it appears that tout le monde<\/em> is in the running for a piece of the action.<\/p>\n

* For those who never have a kind word about casino gambling, here’s a look at some of the good works<\/a> being performed by the Black Hawk County Gaming Association<\/strong>. Also, Hard Rock Hotel & Casino<\/strong>, in Sioux City<\/strong>, is taking problem gambling \"\"seriously and bringing Jackson Recovery Centers<\/strong> in on a regular basis to provide on-site counseling. In the meantime, Iowa<\/strong> has relaxed some of the more draconian aspects <\/a>of its self-exclusion program. Now self-banned gamblers can set foot in casinos — as long as they avoid the gaming floor. They also have a choice now between a five-year ban and a lifetime one. Eight thousand Iowans have banned themselves from casinos. If you live in the Hawkeye State and have a problem, call 1-800-BETS-OFF.<\/p>\n","protected":false},"excerpt":{"rendered":"

“Let’s not kid ourselves: that barge is concrete. It’s not going anywhere.” With those words, Tilman Fertitta launched one of several broadsides at absurd Louisiana regulations on casinos. Not only do Pelican State casinos still have to sit in water, … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":15468,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60,176,199,4,117,166,190,172,7,37,86,85,171,84,62,11,95,30,33,90,111,25,12,32,129,21,146],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/20094"}],"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=20094"}],"version-history":[{"count":4,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/20094\/revisions"}],"predecessor-version":[{"id":26725,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/20094\/revisions\/26725"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media\/15468"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=20094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=20094"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=20094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}