{"id":21735,"date":"2018-05-21T08:24:58","date_gmt":"2018-05-21T16:24:58","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=21735"},"modified":"2018-05-21T08:24:58","modified_gmt":"2018-05-21T16:24:58","slug":"adversity-at-sands-paging-katniss-everdeen","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/adversity-at-sands-paging-katniss-everdeen\/","title":{"rendered":"Adversity at Sands; Paging Katniss Everdeen"},"content":{"rendered":"

Some are\u00a0blaming bad weather for two months of substantially reduced table-games winnings at Sands Bethlehem<\/strong>. But could casinos in the \"\"Catskills<\/strong> finally be having an effect? It’s hard to say, although one suspects the answer is “yes.” Sands Bethlehem tumbled from $22 million in April 2017 to $17.5 million last month — an almost 20% pratfall<\/a>. In March, Sands raked in $19 million where it had once banked $21.5 million. It seems like Sheldon Adelson<\/strong> picked a good time to get out of the market. For the Pennsylvania Gaming Control Board<\/strong>‘s Richard McGarvey<\/strong>, Sands is a victim of its own success:\u00a0\u201cLast year was a really good month for the Sands and statewide quite frankly.\u00a0It\u2019s hard to match that year after year.\u201d<\/p>\n

McGarvey blames the volatility of table games themselves, noting that Sands’ current results are in line with its historic tendencies. And then there’s the new competitor, just 80 miles away.\u00a0\u201cResorts World Catskills<\/strong> has not only built a nearly $1 billion property to target domestic Asian play but has also poached talent from Sands Bethlehem,\u201d Spectrum Gaming Group<\/strong>‘s Joseph Weinert<\/strong> told the Morning Call<\/em>. Also affected were Mohegan Sun Pocono Downs<\/strong> (-8%) and Mount Airy<\/strong> (-26%). That said, Resorts World’s revenues were nothing about which to crow: $4.5 million in a billion-dollar megaresort. Genting Group<\/strong>‘s going to have to do better than that.<\/p>\n

* Wynn Resorts<\/strong> has finished removing the toxic sludge<\/a> from Encore Boston Harbor<\/strong> — and we’re not referring to Steve Wynn<\/strong>. While the company expected to spend $30 million remediating contaminated sediment and improving water quality in the Mystic River<\/strong>, the final tab came in at $68 million. Still, if those measures garner Wynn Resorts favor with the Massachusetts Gaming Commission<\/strong> it will be a bargain.<\/p>\n

* Churchill Downs<\/strong> has wasted no time<\/a> monetizing last week’s Supreme Court<\/strong> ruling striking down the Bradley Act<\/strong>. CHDN has inked a pact<\/a> to run both terrestrial and online sports books for the Golden Nugget Atlantic City<\/strong>. (Owner\u00a0Tilman Fertitta<\/strong> doesn’t miss a trick.) The target date for inception is 1Q19.\u00a0“We have the \"\"unique opportunity to leverage our knowledge and experience operating the largest legal online horse racing wagering business in the U.S. as we enter the iGaming and sports betting markets,” said Churchill Downs CEO\u00a0Bill Carstanjen<\/strong>. Added state Senate President Stephen Sweeney<\/strong> (D),\u201cWe want to act quickly to capitalize on the Court\u2019s decision so that we can get sports gaming in place and operating in New Jersey<\/strong>.” Meanwhile, ex-Gov. Chris Christie<\/strong> (R) predicts Monmouth Park<\/strong> will go live with sports betting as early as Memorial Day weekend. Due to its recent purchases of Presque Isle Downs<\/strong> and Lady Luck Vicksburg<\/strong>, Churchill Downs is also positioned to take advantage of legalized sports betting<\/a> in Pennsylvania<\/strong> and Mississippi<\/strong>, although one wonders how it will care for Pennsylvania’s confiscatory 36% tax rate. Wall Street<\/strong> liked the news, as CHDN rose 4% last Wednesday.<\/p>\n

Speaking of Atlantic City, it is being predicted to enjoy an upswing<\/a> when the one-two punch of Hard Rock Atlantic City<\/strong> and Ocean Resort<\/strong> hits on June 28.\u00a0\u00a0“With these two casinos opening up, there’s going to be a huge \"\"influx of people wanting to see what these properties are bringing to the marketplace,” says Stockton University<\/strong>‘s Rummy Pandit<\/strong>.\u00a0“We are looking at two market segments that are set to visit us and they are very distinct. The Hard Rock is music centric, while Ocean Resort is known [through Hyatt<\/strong>] for leisure and high-end meeting and conference crowds. They both will bring a new type of clientele.”<\/p>\n

Said Weinert,\u00a0“Casinos make a large percentage of their revenue in the summer. To bring in two new properties is going to create excitement. Some of the existing operators will pay a price, but the overall market should grow.” Ocean Resort remains something of an X factor but all the auguries for Hard Rock are positive. I’ve not seen this much excitement \"\"surrounding an American casino opening since Borgata<\/strong>. Certainly not Revel<\/strong>. Not even Aria<\/strong>. The big question will be whether Hard Rock can grow the market, especially with its emphasis on live entertainment, or simply rearrange market share, as Borgata did back in 2003.<\/p>\n

* If you’re planning to check out the upstart Las Vegas Golden Knights<\/strong>, arrive at T-Mobile Arena<\/strong> early, the better to check out the elaborate pre-game shows, like something out of The Hunger Games<\/em>, complete with flaming arrows.\u00a0Reports<\/a> the New York Times<\/em>, “In a sword fight midway \"\"through the roughly 10-minute show, the golden knight overwhelmed a villain who had been wielding a Winnipeg Jets<\/strong> flag. This being Vegas, the vanquished rogue did not skate off the ice but flew, hoisted into the rafters by an elaborate rigging system.” It’s like Tournament of Kings<\/em> on ice (Hey, now there’s an idea …). For Las Vegans, it’s another reason to rally around their hometown warriors, Sin City’s feel-good story of the year. Shows are switched out depending on the evening’s opponent. The knightly mascot might slay a shark if San Jose<\/strong> is in town. As\u00a0producer Jonny Greco<\/strong> says,\u00a0\u201cIt\u2019s just expanding this weird environment that people seem to enjoy.”<\/p>\n

* Feel like taking a trip to Las Vegas<\/strong> but can’t wait any longer for that train to Victorville<\/strong>? German company FlixBus<\/strong> has the answer: Bus trips, starting at $2.99. That doesn’t seem like a business model that will pencil out to profitability but CEO Andr\u00e9 Schw\u00e4mmlein<\/strong> thinks he has a winning hook: \u201cWe want to show people who take their cars on long-haul drives that the bus can provide a convenient alternative, one that allows them to work, relax, or sleep while they travel.\u201d Live entertainment is promised<\/a>, although we think Wi-Fi will be more of a lure. Can’t do that while you’re driving from L.A.\u00a0Arrow Stage Lines<\/strong>, American Explorer Motorcoach<\/strong>, Gray Line Arizona<\/strong>, Pacific Coachways<\/strong>, Transportation Charter Services<\/strong>, and USA Coach Services<\/strong> will provide the equipment and it’s up to FlixBus to supply the passengers.\u00a0 This business model has worked for Flixbus<\/a> in Europe<\/strong>. Is the U.S. a different animal? I, for one, can’t wait to learn.<\/p>\n","protected":false},"excerpt":{"rendered":"

Some are\u00a0blaming bad weather for two months of substantially reduced table-games winnings at Sands Bethlehem. But could casinos in the Catskills finally be having an effect? It’s hard to say, although one suspects the answer is “yes.” Sands Bethlehem tumbled … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":21551,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[23,239,34,176,56,4,117,120,165,140,22,37,112,11,35,167,101,95,157,12,74,9,129,100,233],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/21735"}],"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=21735"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/21735\/revisions"}],"predecessor-version":[{"id":21736,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/21735\/revisions\/21736"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media\/21551"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=21735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=21735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=21735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}