{"id":22754,"date":"2018-10-26T07:27:42","date_gmt":"2018-10-26T15:27:42","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=22754"},"modified":"2020-10-19T06:55:04","modified_gmt":"2020-10-19T14:55:04","slug":"adelson-eats-wynns-lunch-thumbs-up-for-boyd","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/adelson-eats-wynns-lunch-thumbs-up-for-boyd\/","title":{"rendered":"Adelson eats Wynn’s lunch; Thumbs up for Boyd"},"content":{"rendered":"

Credit Suisse<\/strong> analyst Cameron McKnight<\/strong> reports that Sands China<\/strong> is stealing Macao<\/strong> market share from Wynn Resorts<\/strong>. Renovated VIP rooms at Sands properties are credited with the shift in business. Also, Sands “stated that while its very confident \"\"of [concession] renewal, it has had no communication with the government on the issue.” Sands’ $1 billion capex reinvestment in Sands Cotai Central<\/strong> (soon to be The Londoner<\/strong>) is deemed a “sensible allocation of capital as it proves LVS\u2019s commitment to help develop the Macau market, and reorients an asset whose brand and market position has struggled since opening.” More ominously, McKnight cites a study that says the Chinese public displays \u201ca growing reluctance to spend suggests households are responding badly to the confluence of negative headlines about slowing growth, volatile markets and more US-China<\/strong> ructions.\u201d On the plus side, domestic visitation to Macao is up, countering\u00a0a decline in international tourism, and all six concessionaires managed to put their differences aside and cooperate on shuttle service from the new Hong Kong<\/strong> bridge. Good for them.<\/p>\n

* Boyd Gaming<\/strong>‘s 3Q18 results drew a favorable review from JP Morgan<\/strong> analyst Joseph Greff<\/strong>. He noted 7% higher cash flow at Boyd’s Downtown<\/strong> properties in Las Vegas<\/strong>, said the regional casinos were performing “decently” and that the recent stock-\"\"price decline was “a function of recent investor fear and loathing in the gaming sector.” All three Downtown casinos “performed at record levels” which offset an increase in jet-fuel prices to Hawaii<\/strong>. Boyd is already seeing contributions from Valley Forge Resort Casino<\/strong> and its Illinois<\/strong> slot routes. Looking ahead, Boyd will now be seeing income from its four Pinnacle Entertainment<\/strong> purchase-leasebacks, which it is renting for $7 million a month, not a bad price.<\/p>\n

* Downtown’s suddenly vigorous Plaza Hotel<\/strong> is planning on converting some inert real estate into a pair of arenas<\/a>, in order to hold equestrian events during the Wrangler National Finals Rodeo<\/strong>. To put the size of the equestrian center into \"\"perspective, it will have 200 stalls, as opposed to South Point<\/strong>‘s 1,200. According to the Las Vegas Review-Journal<\/em>, “During the rest of the year, the center can host other sporting events, concerts, paintball tournaments and other animal events.” It will have six permanent employees, whose joyful task it will be to attend to “odor and waste management needs.” The two small arenas will replace a larger, temporary one the Plaza built last year for NFR week. Of course, there are hopes that NFR-related events at the Plaza will spill over into ancillary business for Downtown, especially with the Fremont Street Experience<\/strong> so close at hand.<\/p>\n

* As of yesterday, the Tropicana Atlantic City<\/strong> joined its Boardwalk brethren with a new sports book, run by William Hill<\/strong> (which also provides the same service for Ocean Resort<\/strong>). There will be one main book, plus betting kiosks scattered across the resort. The move should enable the Trop to hang onto the #2 spot in Atlantic City<\/strong>, especially since Hard Rock Atlantic City<\/strong> hasn’t even gotten around to applying for a license yet. The only other Tail-End Charlie is Caesars Atlantic City,<\/strong> which relies on the book at Bally’s<\/strong> to cover its sports-betting needs.<\/p>\n","protected":false},"excerpt":{"rendered":"

Credit Suisse analyst Cameron McKnight reports that Sands China is stealing Macao market share from Wynn Resorts. Renovated VIP rooms at Sands properties are credited with the shift in business. Also, Sands “stated that while its very confident of [concession] … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":22479,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[23,60,244,51,14,199,165,144,241,62,95,30,74,243,47,19,100,38,252,233],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/22754"}],"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=22754"}],"version-history":[{"count":2,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/22754\/revisions"}],"predecessor-version":[{"id":28510,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/22754\/revisions\/28510"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media\/22479"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=22754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=22754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=22754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}