{"id":20615,"date":"2017-11-17T08:28:44","date_gmt":"2017-11-17T16:28:44","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=20615"},"modified":"2017-11-17T08:29:37","modified_gmt":"2017-11-17T16:29:37","slug":"20615-2","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/20615-2\/","title":{"rendered":"Next stop, Antrim?!?; Murren drops out of casino arms race"},"content":{"rendered":"

Ever heard of Antrim Township<\/strong> in Pennsylvania<\/strong>? Probably not. But state Rep. Paul Schemel<\/strong> thinks it’s a new gaming hot spot. One of his reasons for advocating Antrim is its proximity to Charles Town<\/strong>, West Virginia<\/strong>. Now this is precisely the kind of \"\"thing that is chapping Penn National Gaming<\/strong>‘s ass. Penn is heavily invested in Charles Town<\/a> but can’t do anything to prevent a satellite from being sited in Antrim. It could bid for<\/em> the satellite concession but that’s about the only way of protecting its Charles Town moneymaker. How much gaming are we talking about<\/a>? Think 750 slots, 50 table games and an OTB parlor. (The new rules allow for a minimum of 300 slots but we think everyone is going to opt\u00a0for the max.) “If they are right on the border, they would draw in Hagerstown<\/strong>, Charles Town, Frederick County<\/strong>, Winchester<\/strong>, in theory,\u201d says Schemel.<\/p>\n

Antrim officials would have until New Year’s Eve to nix the idea. As Schemel explains,\u00a0\u201cIf they opt out, they can opt back in. But there’s never an option to opt out again.\u201d The township is going to have to live with some form of gaming now that TA Truck Stop<\/strong> is eligible for five slot machines. Why not go for the whole enchilada, especially when it’s the only way to get a slice of gaming revenue? (Slot-route taxes go right to the state and county.)<\/p>\n

Ironically, Schemel was an opponent of the big gambling expansion, saying, “It’s just not a good idea for the state to be relying on addictive behaviors.” But if he can help his constituents land a casino, it looks like he’s going to do just that.<\/p>\n

*\u00a0In a surprising development, MGM Resorts International<\/strong> is getting out<\/a> of the new-casino biz … except in Japan<\/strong>, that is. CEO Jim Murren<\/strong> is framing it as a cost-savings issue, adding, \"\"“We’re spending a lot of money as a company,” some $7 billion worth and Murren’s prepared to bet the farm on Japan. If there’s any non-Nipponese investment, it’s going to happen as capex maintenance along the Las Vegas Strip<\/strong>.\u00a0\u201cWhere we\u2019re focusing our capital is where we dominate, which is here,\u201d said Murren, who has targeted Luxor<\/strong> and Excalibur<\/strong> for refreshment without re-theming. Excalibur, in particular, fairly screams “Archaic!”, so any form of reinvestment is welcome.<\/p>\n

Speaking of Japan, while the Shinzo Abe<\/strong> government is leading the investment community to believe there will be only two casino megaresorts, there are those in the establishment who disagree.\u00a0Pixel Companyz<\/strong> President\u00a0Hiroaki Yoshida<\/strong> is \"\"predicting as many as\u00a0six casinos.\u00a0\u201cThe factor to consider is the business performance. What I think is that the regions that are more likely to have integrated resorts are Sasebo<\/strong> in the Nagasaki<\/strong> prefecture, Wakayama<\/strong>, Hokkaido<\/strong>, Tokyo<\/strong> and Osaka<\/strong>,\u201d he said while showing his company’s gaming-machine wares in Macao<\/strong>. (We would reverse Yoshida’s order of probability.) What Yoshida foresees is an initial pair of integrated resorts and then, in 2021 or 2022, approvals for three or four more.<\/p>\n

Of course, there remains the prospect that gaijin<\/em> casino operators will be required statutorily to pair with Japanese companies, perhaps in a minority role (goodbye, Sheldon Adelson<\/strong> and thanks for playing). Yoshida said Pixel has been approached by U.S. and other companies but he doesn’t kiss and tell<\/a>. Since the Japanese Diet is going to address anti-problem gambling measures before it passes casino-implementation legislation, the latter isn’t expected until next June, so we’ve got a long wait before the complexion of the Japanese casino industry reveals itself.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ever heard of Antrim Township in Pennsylvania? Probably not. But state Rep. Paul Schemel thinks it’s a new gaming hot spot. One of his reasons for advocating Antrim is its proximity to Charles Town, West Virginia. Now this is precisely … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":15715,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[171,11,69,95,33,90,92,9,139],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/20615"}],"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=20615"}],"version-history":[{"count":2,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/20615\/revisions"}],"predecessor-version":[{"id":20617,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/20615\/revisions\/20617"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media\/15715"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=20615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=20615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=20615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}