{"id":20428,"date":"2017-10-26T09:39:34","date_gmt":"2017-10-26T17:39:34","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=20428"},"modified":"2017-10-26T09:39:34","modified_gmt":"2017-10-26T17:39:34","slug":"adelsons-construction-boom-make-theirs-manhattan","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/adelsons-construction-boom-make-theirs-manhattan\/","title":{"rendered":"Adelson’s construction boom; Make theirs Manhattan"},"content":{"rendered":"

Las Vegas Sands<\/strong> still can’t be bothered to finish its St. Regis<\/strong> stump on the Strip, but it’s spending capex dollars like there’s no tomorrow in Macao<\/strong>. Sands will throw $700 million into redoing \"\"Sands Cotai Central<\/strong> as The Londoner<\/strong>, spend $275 million on St. Regis Tower Suites<\/strong> and another $250 million to convert Four Seasons<\/strong> apartments into hotel suites (I guess the condo market wasn’t so hot over there either). Mass-market play, a Sands staple, was up 12.5% last quarter. On the Las Vegas<\/strong> front, management said it was “recovering well” from the Oct. 1 shootings. Despite higher occupancy, room revenues were down 3%, a phenomenon that Deutsche Bank<\/strong> analyst Carlo Santarelli<\/strong> found “a tad confusing.” Thanks to the Mayweather\/McGregor fight and convention business, MGM Resorts International<\/strong> is thought to have eaten some of Sheldon Adelson<\/strong>‘s 3Q17 lunch.<\/p>\n

JP Morgan<\/strong> analyst Joseph Greff<\/strong> dismissed the report as “Basically a repeat of the 2Q17,” although he noted that stronger business at Parisian<\/strong> ($418 million last quarter) helped Sands beat Wall Street<\/strong> estimates. Greff speculated that Adelson’s big Macao \"\"renovation would ultimately improve cash flow “and position SCC much more solidly in the premium mass segment.” He noted that Sands is operating in a more-competitive mass market and the cost of doing that business has risen, but that the reinvestment in Sands Cotai would be smiled upon by City Hall. Marina Bay Sands<\/strong> in Singapore<\/strong> grossed $793 million for the quarter, well ahead of expectations, with VIP play credited for the outcome.<\/p>\n

* The Culinary Union<\/strong> will be descending upon the offices of Sens. Dean Heller<\/strong> (R) and Catherine Cortez Masto<\/strong> (D) today to press them on the issue of Temporary Protected Status<\/strong> and \"\"keeping it in place.\u00a0\u201cApproximately 5,700 immigrants with TPS designations call Nevada<\/strong> home and have lived in the United States<\/strong> for nearly 10 years. They pay taxes, raise their children who are U.S. citizens, and contribute to our economy,\u201d said Culinary Secretary-Treasurer\u00a0Geoconda Arg\u00fcello-Kline<\/b>. It’s not clear how badly a revocation of TPS would hit the casinos or the Culinary, but the union has made its preservation a high and continuing priority.<\/p>\n

* Like Topsy, Resorts World Casino<\/strong> New York City<\/strong> just keeps growing and growing. It’s expanded to a third floor, where gamblers 336 new lottery terminals and electronic table games. This “Central Park<\/strong> floor” will also continue to host meetings and musical performances. Resorts World NYC’s total machine inventory is now a staggering 6,050 devices. The new gaming product is described as “cutting-edge, first to market products designed to appeal to millennial customers.” Genting also broke ground on an accompanying, 400-room hotel “that will rival Manhattan<\/strong>‘s finest accommodations,” and is adding four new restaurants. Genting is giving New York<\/strong> gamblers a compelling reason to keep their play close to home.<\/p>\n

*\u00a0The Paddock family is back in the news and not in a good way<\/a>. Gunman Stephen Paddock<\/strong>‘s brother Bruce<\/strong> has been arrested on child-porn charges, pursuant to a “19 counts of sexual exploitation of a child and one count of\u00a0possession of child pornography.” (Shudder!) The Paddock brothers are the offspring of Benjamin Paddock<\/strong>, bank robber and prison escapee. There are some severely twisted strands of DNA in that family.<\/p>\n","protected":false},"excerpt":{"rendered":"

Las Vegas Sands still can’t be bothered to finish its St. Regis stump on the Strip, but it’s spending capex dollars like there’s no tomorrow in Macao. Sands will throw $700 million into redoing Sands Cotai Central as The Londoner, … 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":[65,151,120,189,62,228,11,101,33,12,108,9,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/20428"}],"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=20428"}],"version-history":[{"count":2,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/20428\/revisions"}],"predecessor-version":[{"id":20435,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/20428\/revisions\/20435"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=20428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=20428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=20428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}