{"id":20369,"date":"2017-10-18T07:07:51","date_gmt":"2017-10-18T15:07:51","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=20369"},"modified":"2022-04-09T07:34:49","modified_gmt":"2022-04-09T15:34:49","slug":"trump-goes-to-bat-for-adelson-connecticut-tribes-on-the-rise","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/trump-goes-to-bat-for-adelson-connecticut-tribes-on-the-rise\/","title":{"rendered":"Trump goes to bat for Adelson; Connecticut tribes on the rise"},"content":{"rendered":"

Japanese Prime Minister Shinzo Abe<\/strong> had never heard of Las Vegas Sands<\/strong> or MGM Resorts International<\/strong>\u00a0before Donald Trump<\/strong> told him about them last February. Either that or Abe was politely \"\"feigning ignorance. (As long as was using his political office to help Sands, why didn’t Trump name-drop his pal Steve Wynn<\/strong>?)\u00a0Considering that Sheldon Adelson<\/strong> had met with the secretary general of Abe’s Liberal Democratic Party<\/strong>, I’ll choose to think that Abe’s reaction to Trump was a faux-naif<\/em> move designed to make him appear above the fray.<\/p>\n

According to the Washington Post<\/em>, which mostly tells readers of this space what they already know<\/a>, casino floors would be capped at 161,500 square feet — the same as in Singapore<\/strong>. Gaming CEOs say they can’t make money that way (although Adelson makes out pretty well at Marina Bay Sands<\/strong>), which might be true if they weren’t committed to an unprecedented $10 billion or \"\"more investment — yeah, we’re looking at you, Lawrence Ho<\/strong>. Brokerage CLSA<\/strong> opines that Japan<\/strong> could support 12 casinos — although there’s no indication that there’s either the political will or the public support to go that far. As far as some potential regulatory constraints, such as allowing only foreigners to use credit cards, Sands President Rob Goldstein<\/strong> isn’t a fan but he is<\/em> a realist:\u00a0\u201cIf we\u2019re so fortunate that the government will award us a license and tells us, \u2018You\u2019re going here or there,\u2019 we will be glad to take it.\u201d<\/p>\n

* While we’re on the subject of Adelson, his Sands Bethlehem<\/strong> eked out a $59,000 margin<\/a> over Parx Casino<\/strong> to take the number-one slot in Pennsylvania<\/strong> last month, largely on the strength of a 17% increase in table games revenue. Overall, the Keystone State finished 4% higher than in September 2016.<\/p>\n

* As tribal casinos in Connecticut<\/strong> fight to retain their duopoly, they had good news to report in September. Mohegan Sun<\/strong> slot revenue rose 2%, to $52, on 9.5% higher handle ($653 million). Over at Foxwoods Resort Casino<\/strong>, coin-in was $499 million, a 4.5% increase. Revenues were up 4% to $40 million.<\/p>\n

* Maryland Live<\/strong> has been taking its lumps from MGM National Harbor<\/strong> but, sort of as compensation, is about to get a tax break valued at $36 million. In lieu of paying property taxes on its hotel and convention center, Cordish Gaming<\/strong> would pony up a flat $1 million fee a year for 30 years. Cordish is getting the tax break before it’s even built the hotel, which will have 310 rooms.<\/p>\n","protected":false},"excerpt":{"rendered":"

Japanese Prime Minister Shinzo Abe had never heard of Las Vegas Sands or MGM Resorts International\u00a0before Donald Trump told him about them last February. Either that or Abe was politely feigning ignorance. (As long as was using his political office … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":14928,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[42,166,172,171,11,167,95,33,25,12,108,31,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/20369"}],"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=20369"}],"version-history":[{"count":2,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/20369\/revisions"}],"predecessor-version":[{"id":31002,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/20369\/revisions\/31002"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media\/14928"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=20369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=20369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=20369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}