{"id":24927,"date":"2019-09-17T07:33:25","date_gmt":"2019-09-17T15:33:25","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=24927"},"modified":"2020-10-19T06:55:48","modified_gmt":"2020-10-19T14:55:48","slug":"two-wins-for-wynn-fewer-jobs-in-atlantic-city","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/two-wins-for-wynn-fewer-jobs-in-atlantic-city\/","title":{"rendered":"Two wins for Wynn; Fewer jobs in Atlantic City"},"content":{"rendered":"

Encore Boston Harbor<\/strong> continues to dominate the Massachusetts<\/strong> scene, with 61% of market share, compared to 25% (not bad) for MGM Springfiel<\/strong>d, the rest going to Plainridge Park<\/strong>. Encore \"\"grossed $85.5 million last month, MGM did $21 million and Plainridge $12 million. That breaks down to $1.7 million a day for Encore, $676K in Springfield<\/strong> and $390K in Plainville<\/strong>. The latter took a 21.5% hit from Encore but still did an impressive $325\/win\/slot\/day. JP Morgan<\/strong> analyst Joseph Greff<\/strong> is predicting Plainridge Park will decline 19% in the quarter, compared to his initial projection of 10%. Expect Penn National Gaming<\/strong> to clamor even louder for table games.<\/p>\n

MGM’s gross was dominated by slot revenues ($15.5 million), at a slightly below average $198\/win\/slot\/day. Table game win exceeded $5 million for $1,434\/win\/table\/day. Greff projects revenue to settle into a two-to-one ratio of slot dollars to table ones. Encore might want to consider reducing its slot inventory, which is bringing in only $207\/win\/slot\/day. (At 3,158 slots, the casino is not lacking in one-armed bandits.) Table games brought in $32 million, for\u00a0win\/table\/day of $7,276. If Encore keeps those numbers up, it will continue to surpass MGM National Harbor<\/strong> as the premier table-game destination on the East Coast.<\/p>\n

\"\"* Score one for consumer motorists. Wynncore<\/strong> has eliminated parking fees “without limitation, and without the need for validation.” Bravo, Wynn Resorts<\/strong>. Let’s hope this is the start of a trend. The new, park-free policy incepts Sept. 30.<\/p>\n

* Fantasy sports are an $8 billion industry in America<\/strong>. That’s chicken feed compared to the $300 billion (mostly illicit) real-sports betting market. \u201cEven in this short time and in Jersey, it\u2019s already become a substantial portion of our business,\u201d says DraftKings<\/strong> CEO Jason Robins<\/strong>. Meanwhile, the major leagues\u2014eager to cash in on sports betting\u2014must walk a tightrope between collaborating and giving rise to corruption<\/a>. “The precursor of the NFL<\/strong> collapsed in 1908 in large part because of gambling scandals,” warns economist Victor Matheson<\/strong>. “If people think sports are fixed, then they don\u2019t want to watch. And so it\u2019s this real balancing act for the leagues.\u201d That’s why the NCAA<\/strong> remains firmly opposed to sports wagering. Even so, companies like DraftKings are aiming to dominate the new industry. \u201cI think there could be a $100 billion-plus company … So, we\u2019re going after that kind of size opportunity.\u201d Spoken with the recklessness we associate with DFS.<\/p>\n

* Atlantic City<\/strong> casinos are doing better this summer. But they’re not taking chances. The payroll is down by 3%<\/a>. This seems to be a combination of ‘rightsizing’ at the two newest casinos\u00a0and a decision to hire seasonal workers earlier and keep them on the \"\"job longer, rather than hiring more permanent staffers, despite the increase in room and casino inventory. Unite-Here Local 54<\/strong> President Robert McDevitt<\/strong> is keeping his eye on Oct. 15, when layoffs traditionally occur, as a leading economic indicator.\u00a0\u201cIf they hang on to [seasonal workers]\u00a0until the end, then it means there is business to support it.\u201d Still, the Boardwalk appears to be skimping on full-timers, looking to part-timers and seasonal employees to fill the gap. But if the usually crotchety McDevitt is sounding sanguine that’s a positive indicator in and of itself.<\/p>\n

* Oklahoma<\/strong> Gov. Kevin Stitt<\/strong> (R) has ‘come out’ as a member of the Cherokee Nation<\/strong> in an effort to quell perceptions of personal animosity toward the Sooner State’s Indian tribes. He frames his \"\"showdown over tribal gaming compacts as a duly diligent review<\/a> of state contracts, just like any other. He’s not prepared to concede that the compacts automatically renew:\u00a0\u201cNo contract goes on in perpetuity one-sided.\u00a0Whether one side feels they\u2019re getting the raw end of the stick, there has to be mutual agreement.\u201d He says that the tribes warned his predecessor, Mary Fallin<\/strong>, that the compacts were due to expire in 2020, dismissing current tribal talk as “posturing.” Claiming “100%” popular support, he added,\u00a0\u201cThis is just business.\u00a0It has nothing to do with the tribes, it has nothing to do with their sovereignty, it has nothing to do with their industries.\u201d He concluded saying that “we\u2019re going to get there.\u201d However, a lack of gubernatorial specifics\u2014other than a hint of a uniform level of taxation\u2014won’t get him very far.<\/p>\n

* Is the customer always right when they sexually maul an employee? There’s no question that player Lawrence Earnhart<\/strong> felt up an unnamed plaintiff: He pled guilty in court last year. The victim, however, says that Wildwood Casino<\/strong> retaliated against her. She says she was \u201csingled out, isolated, unnecessarily scrutinized, blamed for systematic problems by the casino, and set up for failure, so that she would be forced out of her employment\u201d for having stood up to “Scary Larry.” She also alleges that management knew chapter and verse on Earnhart’s tendencies and did nothing. “Nothing” would seem to describe what the company has learned from the #MeToo<\/strong> phenomenon.<\/p>\n","protected":false},"excerpt":{"rendered":"

Encore Boston Harbor continues to dominate the Massachusetts scene, with 61% of market share, compared to 25% (not bad) for MGM Springfield, the rest going to Plainridge Park. Encore grossed $85.5 million last month, MGM did $21 million and Plainridge … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[23,27,227,14,72,112,245,115,69,234,232,243,9,20,196,233],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/24927"}],"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=24927"}],"version-history":[{"count":2,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/24927\/revisions"}],"predecessor-version":[{"id":28581,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/24927\/revisions\/28581"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=24927"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=24927"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=24927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}