{"id":25237,"date":"2019-10-31T07:41:55","date_gmt":"2019-10-31T15:41:55","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=25237"},"modified":"2020-10-19T06:56:25","modified_gmt":"2020-10-19T14:56:25","slug":"churchill-downs-in-expansive-mood-cannery-security-faulted","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/churchill-downs-in-expansive-mood-cannery-security-faulted\/","title":{"rendered":"Churchill Downs in expansive mood; Cannery security faulted"},"content":{"rendered":"

Churchill Downs<\/strong>‘ third-quarter cash flow of $88 million was $7 million shy of Wall Street<\/strong>‘s expectation. The shortfall extended across all \"\"segments of CHDN business, although increased casino competition in Maine<\/strong> was one of the contributing factors. In terms of revenue, Churchill Downs achieved $306 million, higher than the Street’s expectation ($300 million). Not only are 2,500 “historical racing” machines planned for Turfway Park<\/strong> but 3,000 more will be divided between CHDN’s titular racetrack and nearby Derby City<\/strong>. In other news, $100 million in capex improvements are slated for Miami Valley Gaming<\/strong> in Ohio<\/strong>. Booming Rivers Casino Des Plaines<\/strong> contributed $20 million worth of cash flow. We’ll know more after CHDN execs hold their earnings call.<\/p>\n

* Las Vegas Sands<\/strong> dodged a $12 billion bullet\u2014for now<\/a>. A Macao<\/strong> court has postponed the start of a trial against the company until next September 16. Marshall Hao Shi-sheng<\/strong>, a Taiwanese businessman, is claiming breach of contract. He asserts that he helped Sands land a \"\"Macanese casino license back in 2002 and that the damages are from lost profits from then until 2022, when Sands’ concession comes up for renewal. The delay gives Sands time to appeal an increase of the damages. Sands’ official position is, \u201cThe Macau action is in a preliminary stage and management has determined that based on proceedings to date, it is currently unable to determine the probability of the outcome of this matter or the range of reasonably possible loss, if any.\u201d At least that’s an improvement over Sands’ previous attitude toward litigation that assumed victory in all cases. Some bruising court battles seem to have dented its confidence.<\/p>\n

* A Cannery Casino<\/strong> janitor remains critically injured<\/a> after Jennifer Stitt<\/strong> drove her RV into the building. Police are holding her on suspicion of attempted murder. Why? Allegedly she was 86’d from the Cannery, \"\"sparking the battering-ram assault. “Witnesses said she continued hitting the gas pedal when the vehicle became stuck,” reports Casino.org<\/strong> of the incident, which apparently came up just short of the table games area of the casino floor. A security veteran, Douglas Florence<\/strong>, told Fox 5 TV<\/strong> that, off the Strip, there’s a critical absence of bollards, the security posts that would have stopped Stitt short. Asked Florence, “What is the cost of reducing the tragic injuries or the death of a customer or an employee?\u00a0Now that we\u2019ve seen this happen, who\u2019s to say it\u2019s not going to happen again?\u201d<\/p>\n

* Talks between the State of Oklahoma<\/strong> and its gaming-enabled tribes are underway and Attorney General Mike Hunter<\/strong> calls them “positive<\/a>.” So far, nobody has issued anything but bromides, although neither side in the talks has appeared to budge<\/a>.<\/p>\n

* Tribal casinos in California<\/strong> are learning how to cater to high rollers. Whether it’s seclusion of play, $100,000 bottles of whiskey or specialized tea service, you can get almost anything you want<\/a> at San Manuel Casino<\/strong> and its SoCal brethren.<\/p>\n

* No more SugarHouse Casino<\/strong> in our reports on Pennsylvania<\/strong>. The casino is now Rivers Casino Philadelphia<\/strong>, in a wise bit of rebranding<\/a> by Rush Street Gaming<\/strong>.<\/p>\n

* Scarlet Pearl Casino<\/strong> in Biloxi<\/strong> is a whopping $4.5 million richer\u2014and mattress magnate John McIngvale<\/strong> is $4.5 million poorer\u2014after the Washington Nationals<\/strong> beat the Houston Astros<\/strong> last night to win the World Series<\/strong>. Congratulations to the Nats, who don’t have to be “so [expletive] glad we got Osuna.”<\/p>\n","protected":false},"excerpt":{"rendered":"

Churchill Downs‘ third-quarter cash flow of $88 million was $7 million shy of Wall Street‘s expectation. The shortfall extended across all segments of CHDN business, although increased casino competition in Maine was one of the contributing factors. In terms of … 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":[113,60,34,176,116,241,62,147,35,71,115,95,111,242,231,243,20,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/25237"}],"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=25237"}],"version-history":[{"count":2,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/25237\/revisions"}],"predecessor-version":[{"id":28637,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/25237\/revisions\/28637"}],"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=25237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=25237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=25237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}