{"id":22865,"date":"2018-11-08T07:40:09","date_gmt":"2018-11-08T15:40:09","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=22865"},"modified":"2018-11-08T07:40:09","modified_gmt":"2018-11-08T15:40:09","slug":"tribal-gaming-bigger-than-ever-sessions-out-in-d-c","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/tribal-gaming-bigger-than-ever-sessions-out-in-d-c\/","title":{"rendered":"Tribal gaming bigger than ever; Sessions out in D.C."},"content":{"rendered":"

There’s been a round-robin\u00a0at Seminole Gaming<\/strong>. The chair left vacant by Joe Lupo<\/strong> at\u00a0Seminole Hard Rock Hotel & Casino Tampa<\/strong> will be filled by\u00a0Seminole Casino Coconut Creek<\/strong> President Steve Bonner<\/strong>, a 16-year veteran of Coconut Creek. General Manager Larry Buck<\/strong> slides into Bonner’s chair. And the game of \"\"musical chairs is completed by elevating tribal member Edward Aguilar<\/strong> to general manager. The latter’s held numerous positions within Seminole Gaming, including regulatory experience, and must find his new duties a long way from his undergraduate degree (culinary arts). But the coup of coups was wooing David Hoenemeyer<\/strong> away from Caesars Entertainment<\/strong> and installing him as corporate COO. Hoenemeyer’s experience includes multiple Atlantic City<\/strong> postings, so he should bring helpful insight on that market, where Hard Rock Atlantic City<\/strong> isn’t doing quite as well as expected, hence the Lupo promotion.<\/p>\n

If anyone doubts the economic importance of tribal gaming, let them look at this study<\/a> by the American Gaming Association<\/strong>. Not surprisingly, California<\/strong> with its 74 tribal casinos, had the greatest economic impact: $20 billion, plus 125,000 jobs and $1.6 billion in revenue sharing. Next was Oklahoma<\/strong>, home to a mind-blowing\u00a0131 \"\"gambling facilities, which support 75,000 jobs and $1.6 billion in revenue sharing. $6 billion was the economic impact in Florida<\/strong>, where the Seminoles and other tribes support 46,000 jobs and $1.1 billion in taxes and revenue sharing. Across the country, tribal gaming generates over $36 billion in wages and $15 billion in taxes, etc. All of which is a grand vindication for Sens. John McCain<\/strong> and Daniel Inouye<\/strong> when they crafted the Indian Gaming Regulatory Act<\/strong>, one of the most economically impactful pieces of legislation ever to emerge from Capitol Hill.\u00a0\u201cTribal gaming operators are present in 28 states and create nearly half of all U.S. gaming revenue,\u201d said the AGA’s Sara Slane and, sometime soon, she’ll be saying “half,” then “more than half.” Tribal gaming is an unstoppable force.<\/p>\n

* Scientific Games<\/strong> is getting good reviews for its 3Q18, driven partly by a 7% increase in cash flow from its social games. Also, a plethora of leased slots in Oklahoma were converted to outright sales, which helps the bottom line. Scientific is contemplating a spinoff and IPO of its social-gaming division, which is also making Wall Street<\/strong> happy.<\/p>\n

* Gambling has laid a dainty foot in Vermont<\/strong>, indirectly, through a Mohegan Sun<\/strong> promotional partnership that allows Momentum Rewards<\/strong> points to be redeemed at Mount Snow Ski & Snowboard Resort<\/strong>. I say “dainty” because the point-redemption only gets you discounted ski-lift tickets. But it’s a start. A more “george” offer can be had at Foxboro Stadium<\/strong>, which is offering “preferred ticket access” to the home of the New England Patriots<\/strong>. Pats owner Robert Kraft<\/strong> had once played casino footsie with Steve Wynn<\/strong> but now Wynn Resorts<\/strong> appears to be on the outside, looking in. Well played, Mohegans.<\/p>\n

\"\"* In a bit of post-electoral fallout, U.S. Attorney General Jeff Sessions<\/strong> got the sack. This should put an end to vague hints about revisiting the Federal Wire Act<\/strong> to ban Internet<\/strong> gambling. It more definitely shuts down threats of prosecution against marijuana-friendly states like Nevada<\/strong> and Colorado<\/strong>. (Special thanks to Colorado Sen. Cory Gardner<\/strong> [R] for reining in Session’s anti-pot crusade.) Since loco weed remains illegal at the federal level, don’t expect gaming regulators to let casinos get in bed with the marijuana industry — but they can heave a sigh of relief that the worst is behind them.<\/p>\n

* In an investor note today, Credit Suisse<\/strong> analyst Brian McKnight<\/strong> says that Las Vegas<\/strong> operators “beat expectations.” Considering that this victory entailed room revenue declines of 5% at Wynncore<\/strong>, 4% at MGM Resorts International<\/strong> hotels, 3.5% at Caesars Entertainment<\/strong> and 3% at Las Vegas Sands<\/strong>, we have to wonder how bad the Street expected the numbers to be. Caesars CEO Mark Frissora<\/strong> painted a smiley face on the data, saying, “Our analysis indicates that the third-quarter softness in Las Vegas was temporary and we are already seeing strong momentum in bookings for the fourth quarter and early into 2019.\u201d Let’s hope he’s right.<\/p>\n","protected":false},"excerpt":{"rendered":"

There’s been a round-robin\u00a0at Seminole Gaming. The chair left vacant by Joe Lupo at\u00a0Seminole Hard Rock Hotel & Casino Tampa will be filled by\u00a0Seminole Casino Coconut Creek President Steve Bonner, a 16-year veteran of Coconut Creek. General Manager Larry Buck … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":10284,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[23,244,34,27,14,36,241,224,53,112,245,167,207,115,25,160,200,32,9,20,193,233],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/22865"}],"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=22865"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/22865\/revisions"}],"predecessor-version":[{"id":22866,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/22865\/revisions\/22866"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media\/10284"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=22865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=22865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=22865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}