{"id":23972,"date":"2019-04-22T07:14:00","date_gmt":"2019-04-22T15:14:00","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=23972"},"modified":"2020-10-19T06:55:17","modified_gmt":"2020-10-19T14:55:17","slug":"land-of-confusion","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/land-of-confusion\/","title":{"rendered":"Land of confusion"},"content":{"rendered":"

OK, so there are no<\/em> condos on sale at the Plaza Resort<\/strong>\u00a0in downtown Las Vegas<\/strong>. That much we have established. But it’s got to be one of the most baffling stories we’ve ever covered. For instance, “TLC” usually is \"\"shorthand for one of Terry Caudill<\/strong>‘s businesses but Caudill is not involved with this but<\/em> a TLC<\/strong> timeshare company does<\/em> rent office space at the Plaza, according to hotel CEO Jonathan Jossel<\/strong>. “I guess the initials may be confusing but they are completely unrelated,” says Jossel. “The Plaza does have a lease with a timeshare company who uses a space in our building and hotel rooms as part of their sales\/presentations but none of our rooms are available for a timeshare model or condos. Perhaps TLC putting some [Plaza] rooms up for advertising and new business purposes on RCI<\/strong> which is a timeshare company too caused this confusion.<\/p>\n

“I assure you there are no condos at the Plaza nor plans for any. We are remodeling 120 brand new rooms. Entirely new rooms from start to finish they will be some of the nicest downtown but again not condos,” continues Jossel. “I hope this clears up any confusion” Well … not entirely but perhaps we’re closer to clarity.<\/p>\n

*\u00a0MGM Resorts International<\/strong>‘s newest venture into public art is “Momentum,” a spiral sculpture made from 100 hockey sticks and on view at Park MGM<\/strong>. Controversy may ensue as to whether it’s art or not but it makes a helluva marketing tool for the Golden Knights<\/strong>, upstarts of the NHL<\/strong>. Pittsburgh<\/strong>-based artist Scott Bye<\/strong> is the creator of “Momentum,” which is very visually striking, take my word for it.<\/p>\n

*\u00a0Not to be outdone, the Stratosphere<\/strong> (it still says that on the building, rebranding be damned) has unveiled a new aluminum sculpture called “Look.” This is not so impressive as MGM’s but it’s nice to see rival casino companies trying to outdo each other in public art rather than in resort fees for a change.<\/p>\n

\"\"* Here’s a nice analysis of Anthony Rodio<\/strong>‘s probable role at Caesars Entertainment<\/strong> (read: caretaker), one that indulges in some 20\/20 hindsight. Whereas we thought the Caesars LBO was a bad idea from the get-go, Global Gaming Business<\/em> comes around to that position\u00a0well after the fact. However, its true to character that Apollo (Mis)Management<\/strong> and Texas Pacific Group<\/strong> have cashed out of Caesars\u2014probably after a hefty loss\u2014having left nothing but wreckage in their wake.<\/p>\n

*\u00a0Raymond Lesniak<\/strong>\u00a0is out of politics but doesn’t seem to realize it. In a vote of no-confidence in New Jersey<\/strong> regulators, Lesniak called for greater government oversight of sports betting. Could he be trying to prod Congress<\/strong> back into debating federal sports regulation? Best let that sleeping dog lie, Ray.<\/p>\n

* Thanks to a new, majority ownership in Rivers Des Plaines<\/strong> casino and strong betting trends at Derby\u00a0City<\/strong>‘s historical-racing facility, Churchill Downs<\/strong> posted robust 1Q19 results. Also, simulcast horse \"\"racing with Japan<\/strong> has been approved. That and the participation of Nipponese equine Master Fencer<\/strong> are expected to boost the performance of the Kentucky Derby<\/strong>, possibly increasing cash flow by $7.5 million. “Recall, Japan is one of the world’s largest markets for horse racing, with ~$25b in handle at the country’s top 10 tracks in 2018; this compares with ~$11b of pari-mutuel handle in the U.S.,” writes J.P. Morgan<\/strong> analyst Daniel Politzer<\/strong>. ” …\u00a0in the near term, the biggest impact to CHDN will come in the form of wagering, but longer term, greater intentional exposure increases opportunity for sponsorships, ticketing\/experiences, and potentially further capital investments at Churchill Downs.”<\/p>\n

* Things are suddenly looking up for underachieving MGM Springfield<\/strong>. It grossed 19% more in March than in February, for a $26 million haul. \"\"According to prexy Michael Mathis<\/strong>, this was the best performance at the slot machines since the casino’s opening. The commonwealth\u00a0of Massachusetts<\/strong> will be happy about the news, since it means $6.5 million in taxes are headed for governmental coffers. The casino enjoyed roughly a 50\/50 mix of local and out-of-state customers. Still, MGM Springfield needs to gross $35 million a month to hit its exuberant revenue forecast. (By contrast, Penn National Gaming<\/strong>‘s Plainridge Park<\/strong> outperformed last month, grossing $16 million.)<\/p>\n","protected":false},"excerpt":{"rendered":"

OK, so there are no condos on sale at the Plaza Resort\u00a0in downtown Las Vegas. That much we have established. But it’s got to be one of the most baffling stories we’ve ever covered. For instance, “TLC” usually is shorthand … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":21268,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[98,244,176,97,58,171,116,112,245,248,69,33,111,254,25,243,47,31,161,9,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/23972"}],"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=23972"}],"version-history":[{"count":3,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/23972\/revisions"}],"predecessor-version":[{"id":28534,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/23972\/revisions\/28534"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media\/21268"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=23972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=23972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=23972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}