{"id":25105,"date":"2019-10-15T06:54:53","date_gmt":"2019-10-15T14:54:53","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=25105"},"modified":"2019-10-15T06:54:53","modified_gmt":"2019-10-15T14:54:53","slug":"trail-of-breadcrumbs-survey-says","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/trail-of-breadcrumbs-survey-says\/","title":{"rendered":"Trail of breadcrumbs; Survey says &#8230;"},"content":{"rendered":"<p><img loading=\"lazy\" class=\"alignleft size-full wp-image-9822\" src=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2012\/10\/Carlino.jpg\" alt=\"\" width=\"144\" height=\"188\" srcset=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2012\/10\/Carlino.jpg 144w, https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2012\/10\/Carlino-114x150.jpg 114w\" sizes=\"(max-width: 144px) 100vw, 144px\" \/>Waiting for &#8220;breadcrumbs to fall off the truck.&#8221; That&#8217;s <strong>Gaming &amp; Leisure Properties<\/strong>&#8216; self-described business plan. GLPI execs, including CEO <strong>Peter Carlino<\/strong> (<em>left<\/em>), were in <strong>Las Vegas<\/strong> for <strong>Global Gaming Expo<\/strong> and took the opportunity to chat with <strong>J.P. Morgan<\/strong> analyst <strong>Joseph Greff<\/strong>. Salient takeaways from the meeting included:<!--more--><\/p>\n<ul>\n<li>Given the opportunity to buy, GLPI would prefer the <strong>Tropicana<\/strong> to <strong>The Rio<\/strong>, viewing the Trop as &#8220;a superior asset.&#8221; (After all, you can&#8217;t move The Rio to the Strip\u2014and the Trop\u00a0is far more up to date in terms of maintenance.) GLPI doesn&#8217;t think the Trop is &#8220;a natural fit&#8221; for <strong>Penn National Gaming<\/strong> but sees the recent sale of The Rio as a real estate play.<\/li>\n<li>As for <strong>The Cosmopolitan of Las Vegas<\/strong>, &#8220;GLPI believes the property is already run extremely well and that the only real opportunity left is likely on the gaming side, so it would be surprised if a buyer without a significant gaming footprint were to emerge.&#8221;<\/li>\n<li>Potential GLPI acquisitions would be properties divested by larger companies in the merger-and-acquisition phase. Price is not the key issue, &#8220;noting that sellers often need a reason to transact, with each deal\/asset having a unique catalyst.&#8221;<\/li>\n<li>&#8220;GLPI places a strong emphasis on the quality of the operator for its assets, and believes having several of the top regional gaming operators should be viewed positively by investors.&#8221;<\/li>\n<li>GLPI&#8217;s much hyped diversification out of gaming has not happened because the REIT &#8220;has yet to find anything that rivals the value proposition of its existing gaming portfolio.&#8221; On the plus side, its philosophy is a sensible one that &#8220;values safety, accretion, and earnings stability, and is happy to &#8216;hit singles&#8217; and still grow.&#8221;<\/li>\n<\/ul>\n<p>* According to the <strong>American Gaming Association<\/strong>, 49% of Americans have a favorable view of gaming. While we&#8217;d like that <img loading=\"lazy\" class=\"alignright size-full wp-image-23114\" src=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2018\/12\/miller.jpg\" alt=\"\" width=\"240\" height=\"182\" srcset=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2018\/12\/miller.jpg 240w, https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2018\/12\/miller-150x114.jpg 150w\" sizes=\"(max-width: 240px) 100vw, 240px\" \/>number to be higher the AGA says it&#8217;s four points up from last year, significant growth by any yardstick. Visitation by Americans is 44%, a nine-point vault from 2018. And while 41% of Yankees said they would visit a casino to gamble last year, this year the number is up to 49%.\u201cThe favorability of our industry has never been higher,\u201d said AGA President <strong>Bill Miller<\/strong>, who unfortunately did not speculate on the economic exuberance shown in the poll.<\/p>\n<p>However, personal feelings on gambling pale in comparison to the industry&#8217;s positive image. While 57% think casinos are a positive economic force, 71% see them as job creators. Keep up the good work, guys.<\/p>\n<p>* <strong>Las Vegas Sands<\/strong> could <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-10-14\/saks-joins-authentic-brands-in-bid-to-acquire-barneys-new-york?cmpid=BBD101419_CUS&amp;utm_medium=email&amp;utm_source=newsletter&amp;utm_term=191014&amp;utm_campaign=closeamericas\" target=\"_blank\" rel=\"noopener noreferrer\" class=\"broken_link\">lose an anchor tenant<\/a> at <strong>Venelazzo<\/strong>. Talks between <strong>Authentic Brands<\/strong> and <strong>Barneys<\/strong>, if carried to fruition, <img loading=\"lazy\" class=\"alignright size-medium wp-image-4427\" src=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2010\/08\/palazzo-pic-300x195.jpg\" alt=\"\" width=\"300\" height=\"195\" srcset=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2010\/08\/palazzo-pic-300x195.jpg 300w, https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2010\/08\/palazzo-pic-150x97.jpg 150w, https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2010\/08\/palazzo-pic.jpg 307w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/>would see most existing and planned Barneys stores closed, to be reopened within extant <strong>Saks Fifth Avenue<\/strong> stores. There&#8217;s a glimmer of hope: A planned Barneys in <strong>Greenwich<\/strong>, <strong>Connecticut<\/strong>, would proceed, so maybe the <strong>Las Vegas Strip<\/strong> wouldn&#8217;t be evacuated. Authentic Brands isn&#8217;t the only bidder for Barneys, which is in Chapter 11, so we&#8217;re not talking about a done deal. However, Barneys\u00a0already plans to close 15 of 22 stores. Authentic Brands is looking to &#8216;green&#8217; the Barneys demographic, so maybe Millennial-popular Las Vegas would work out after all.<\/p>\n<p>* Sin City entrepreneur <strong>Bri Steck<\/strong> is pioneering a &#8220;unique concierge service&#8221; for women vacationing on the Strip. &#8220;Vegas Girls Night Out&#8221; aims to provide fine dining, limo service and nightclub fun at an affordable price. <strong>TAO<\/strong>, <strong>Marquee<\/strong>, <strong>On the Record<\/strong>, <strong>Light<\/strong>, <strong>Drai\u2019s<\/strong>, <strong>XS<\/strong>, <strong>Juniper<\/strong> and <strong>Encore Beach Club<\/strong> are listed as participants. What&#8217;s the hook? Steck culls her clients from fans of the <strong>Bravo<\/strong> series <em>Vanderpump Rules<\/em>. Soon to come is a &#8220;Brides Party Free&#8221; evening that culminates in\u2014what else?\u2014<a href=\"https:\/\/www.lasvegasadvisor.com\/shows\/thunder-from-down-under\/\"><em>Thunder From Down Under<\/em><\/a>.<\/p>\n<p>* Could a tribal casino be built in your back yard? <a href=\"https:\/\/www.popularmechanics.com\/culture\/web\/a23652890\/tribal-map-indigenous-peoples-day-2018\/\" target=\"_blank\" rel=\"noopener noreferrer\">Check out the maps<\/a> provided by <strong>Native-Land.ca<\/strong> and discover what tribe&#8217;s formerly sovereign land you&#8217;re living upon.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Waiting for &#8220;breadcrumbs to fall off the truck.&#8221; That&#8217;s Gaming &amp; Leisure Properties&#8216; self-described business plan. GLPI execs, including CEO Peter Carlino (left), were in Las Vegas for Global Gaming Expo and took the opportunity to chat with J.P. Morgan &hellip; <a href=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/trail-of-breadcrumbs-survey-says\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[249,66,14,4,190,140,241,11,69,254,9,19,20,17],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/25105"}],"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=25105"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/25105\/revisions"}],"predecessor-version":[{"id":25106,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/25105\/revisions\/25106"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=25105"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=25105"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=25105"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}