{"id":21532,"date":"2018-04-17T08:13:15","date_gmt":"2018-04-17T16:13:15","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=21532"},"modified":"2020-07-15T06:10:12","modified_gmt":"2020-07-15T14:10:12","slug":"japan-better-than-feared-mixed-bag-in-louisiana","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/japan-better-than-feared-mixed-bag-in-louisiana\/","title":{"rendered":"Japan “better than feared.” Mixed bag in Louisiana"},"content":{"rendered":"

How do evolving casino casino regulations in Japan<\/strong> look? Well, how does ‘not as bad as expected’ sound? Trust me, that’s good news. And don’t take my word: Take that<\/a> of Morgan Stanley<\/strong>. Taxes will be set at 30%, \"\"which Morgan Stanley thinks will support at least 14% return on investment, if not better. There would be an entry fee for Japanese nationals, comparable to $56. The bank also projects $10 billion in annual gaming revenue just from megaresorts in Tokyo<\/strong> and Osaka<\/strong>. (A third resort is expected.) Tokyo might actually be last to market, due to disruption from the 2020 Olympics<\/strong>,\u00a0\u201cWhile Osaka seems to have all its stars aligned, there is no certainty around other locations,\u201d opined Big Stan, mooting four other “interested locations,” including Nagasaki<\/strong>, which most of us think of in distinctly non-gaming contexts. The report did make the caveat that hitting those rosy ROI numbers (as high as 20%) was predicated on megaresort costs at $10 billion or less. Lawrence “Whatever it Takes” Ho<\/strong>, take heed.<\/p>\n

* Louisiana<\/strong> casino revenues grew a healthy 7.5% in March. “Lake Charles<\/strong>, led by Golden Nugget<\/strong>, outperformed for the fifth consecutive month, up 16.3% y\/y while Baton Rouge<\/strong> was again the softest market, falling 8.4% \"\"y\/y. New Orleans<\/strong> grew 10.8% y\/y in March while Shreveport – Bossier City<\/strong> was up 1.5% y\/y,” reported Deutsche Bank<\/strong> analyst Carlo Santarelli<\/strong>. Overall, Caesars Entertainment<\/strong> (up 9%) fared best, Gaming & Leisure Properties<\/strong> (-14.5%) the worst. As mentioned, Golden Nugget grossed $31 million, for a 25% gain, but L’Auberge du Lac<\/strong> held the top spot with $32.5 million in revenue and a 21.5% gain. Isle Grand Palais<\/strong> grossed $11 million, down 5%, while Delta Downs<\/strong> posted $19 million for a 9.5% gain.<\/p>\n

At $93 million overall, Lake Charles far outpaced New Orleans ($57 million). Harrah’s New Orleans<\/strong> gained 24% to $27 million, while Fair Grounds<\/strong> racino inched up 4% to $4.5 million. Boyd Gaming<\/strong>‘s Treasure Chest<\/strong> was flat at $10 million while its Amelia Belle<\/strong> was up 7% to $4 million. Boomtown New Orleans<\/strong> declined 1.5% to $11 million. L’Auberge Baton Rouge<\/strong> slipped 6% to $16 million in that snake-bitten market. Penn National Gaming<\/strong>‘s riverboat\u00a0plummeted \"\"14.5% to $6 million while newly-in-play Casino Rouge<\/strong> declined 8.5% to $5 million. We’ll have to see if Eldorado Resorts<\/strong> has any magic bullets for that property.<\/p>\n

As for the Shreveport<\/strong>\/Bossier City<\/strong> market, Margaritaville<\/strong> is close on the heels of Horseshoe Bossier City<\/strong>. The latter led the market with $17 million (down 6%), but Margaritaville shot up 24% to finish at $16.5 million. Next closest was Eldorado Shreveport<\/strong> with $12 million (-4%). Everyone else was either flat (Sam’s Town<\/strong>, $7.5 million) or in decline … more ammunition for Diamond Jacks<\/strong>, as it seeks to weigh anchor and move to another, less-crowded parish.<\/p>\n

* Sheldon Adelson<\/strong> isn’t leaving the Republican Party but the GOP is starting to leave him, at least when it comes to legal marijuana. From \"\"former Speaker of the House John Boehner<\/strong> to Rep. Dana Rohrbacher<\/strong>\u00a0(R) and Sen. Cory Gardner<\/strong> (R), Republican influencers are standing up for legal loco weed<\/a>. If endangered Nevada Sen. Dean Heller<\/strong> (R) wants to win his tight reelection race, he might want to make a play for the stoner vote. As for Adelson, remember that he bankrolled the campaign against an initiative in Florida<\/strong> that would have legalized medicinal marijuana. Anyone who goes out of his way to deny medicine to people in need is a cruel, petty man.\"\"<\/p>\n

* As Wynn Boston Harbor<\/strong> remains mired in controversy, Plainridge Park<\/strong> is making hay while the sun shines. It grossed $16 million last month, up 11.5% on 6% higher coin-in. Slot revenues were $408\/slot\/day, double the industry average. Obviously Massachusetts<\/strong> residents are starved for a good gamble.<\/p>\n

* Last month’s casino grosses set a record for Detroit<\/strong>, despite a revenue-negative performance by Greektown<\/strong>. Setting best-evers were MGM Grand Detroit<\/strong> ($58 million, beating a March 2012 $57 million) and MotorCity<\/strong>, whose $49 million comfortably beat a 2013 $46 million. With Caesars Windsor<\/strong> hors de combat<\/em>, April can only look better still.<\/p>\n

* Blocked from the Philippines<\/strong> island of Boracay<\/strong> by strongman Rodrigo Duterte<\/strong> and with $500 million mad money to spend, Galaxy Entertainment<\/strong> is broadening its perspective. It’s not given up on the \"\"Filipino market and is looking for other sites<\/a> within the archipelago.\u00a0\u201cThey just have to go through the process of accreditation and securing again a new Pagcor<\/strong> provisional authority. The whole process will be repeated,” said the Department of Tourism<\/strong>‘s Frederick Alegre<\/strong>. It’s not as easy as he makes it sound: Pagcor announced,\u00a0\u201cThe provisional licence is only the start of a very long and tedious process of compliance that every integrated-resort operator must go through before they can be issued by Pagcor a \u2018Notice to Commence Casino Operations\u2019 and eventually, a regular casino gaming licence.\u201d Let’s hope patience is in plentiful supply at Galaxy.<\/p>\n","protected":false},"excerpt":{"rendered":"

How do evolving casino casino regulations in Japan look? Well, how does ‘not as bad as expected’ sound? Trust me, that’s good news. And don’t take my word: Take that of Morgan Stanley. Taxes will be set at 30%, which … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":20046,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60,176,154,44,199,36,201,190,7,85,171,84,224,112,11,207,69,192,30,33,12,31,129,21,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/21532"}],"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=21532"}],"version-history":[{"count":3,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/21532\/revisions"}],"predecessor-version":[{"id":27526,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/21532\/revisions\/27526"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media\/20046"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=21532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=21532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=21532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}