{"id":25247,"date":"2019-11-01T07:42:43","date_gmt":"2019-11-01T15:42:43","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=25247"},"modified":"2019-11-01T07:42:43","modified_gmt":"2019-11-01T15:42:43","slug":"clarkson-takes-vegas-penn-exudes-confidence","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/clarkson-takes-vegas-penn-exudes-confidence\/","title":{"rendered":"Clarkson takes Vegas; Penn exudes confidence"},"content":{"rendered":"<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/w203N-2mHjg\" width=\"450\" height=\"253\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>It&#8217;s about time: <strong>Kelly Clarkson<\/strong> is coming to <strong>Las Vegas<\/strong> for a residency at <strong>Planet Hollywood<\/strong>, running from April 1 of next year through the following September. Having been on the scene for nearly 20 years (already?), Clarkson will have a sizable catalogue of hits from which to draw.\u00a0\u201cI\u2019ve always loved performing in Las Vegas and the high energy of the crowds there,\u201d said, Clarkson, who&#8217;s played at the <strong>Palms<\/strong>, <strong>MGM Grand<\/strong> and <strong>Cosmopolitan of Las Vegas<\/strong>.\u00a0\u201cSo many of my musical idols have had, and still have, incredible residencies on The Strip, and I\u2019m so excited to create my own!\u201d<\/p>\n<p>Considering some of the other musical luminaries\u00a0who have pitched their tents along the <strong>Las Vegas Strip<\/strong>, a Clarkson residency was both <!--more-->overdue and inevitable. The woman certainly must know how to multi-task, considering that she&#8217;s currently juggling parenthood, The Voice and a new talk show. Clarkson puts on a good show already, so it will be interesting to learn\u00a0what sort of bells and whistles a residency enables her to add. Too bad I won&#8217;t be around to see it.<\/p>\n<p>* <strong>Penn National Gaming<\/strong> having spilt various beans during <strong>Global Gaming Expo<\/strong>, there weren&#8217;t a lot of surprises in its 3Q19 earnings report, which was pretty much in line with <strong>Wall Street<\/strong>&#8216;s expectations. &#8220;How does <img loading=\"lazy\" class=\"alignleft size-medium wp-image-16543\" src=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2015\/08\/Trop-redesign-300x120.jpg\" alt=\"\" width=\"300\" height=\"120\" srcset=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2015\/08\/Trop-redesign-300x120.jpg 300w, https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2015\/08\/Trop-redesign-150x60.jpg 150w, https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2015\/08\/Trop-redesign-1024x410.jpg 1024w, https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2015\/08\/Trop-redesign.jpg 1200w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/>PENN\u2019s equity move up from here? We think a continuation of the mostly stable regional gaming environment helps for sure, but we view PENN\u2019s monetizing assets\/businesses like the <strong>Tropicana Las Vegas<\/strong> and its <strong>Prairie State Gaming<\/strong> slot business as major balance sheet catalysts that should help move the multiple higher,&#8221; wrote <strong>J.P. Morgan<\/strong> analyst <strong>Joseph Greff<\/strong>. The impact of <strong>Encore Boston Harbor<\/strong> was described as &#8220;greater than expected,&#8221; but counterbalanced by strength in Penn&#8217;s South and Midwest properties.<\/p>\n<p>Greff added that &#8220;with the exception of the recently opened Encore <img loading=\"lazy\" class=\"alignright size-full wp-image-14663\" src=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2014\/10\/Penn-logo.jpg\" alt=\"\" width=\"274\" height=\"184\" srcset=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2014\/10\/Penn-logo.jpg 274w, https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2014\/10\/Penn-logo-150x100.jpg 150w\" sizes=\"(max-width: 274px) 100vw, 274px\" \/>Boston, PENN described the promotional environment as rational &#8230; The regional gaming consumer remains healthy, supported by a strong macro environment (wage growth, employment, consumer confidence all pointing in the right direction).&#8221; As for the effect of sports betting, it &#8220;is still in its early stages, but management highlighted a 15% lift in table games GGR at various properties and also a lift in F&amp;B sales.&#8221; So, with the exception of some construction in <strong>Lake Charles<\/strong> that is adversely affecting business, it&#8217;s almost all good at Penn.<\/p>\n<p>* <strong>Vici Properties<\/strong> had a strange line item right at the top of its 3Q19 earnings tab: &#8220;Golf expenses.&#8221; Vici execs must be playing at some pretty elite courses, as they rang up $5.5 million in greens fees. Nice work if you can get it.<\/p>\n<p>* <em>Sign of the Apocalypse<\/em>: The ongoing political protests in <strong>Hong Kong<\/strong> have been <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-11-01\/now-you-too-can-experience-hong-kong-protest-violence-virtually?cmpid=BBD110119_OUS&amp;utm_medium=email&amp;utm_source=newsletter&amp;utm_term=191101&amp;utm_campaign=openamericas\" target=\"_blank\" rel=\"noopener noreferrer\" class=\"broken_link\">made into a video game<\/a>, <em>Liberate Hong Kong<\/em>. Said one of the anonymous game developers,\u00a0\u201cThere is no winning in the game, just like the current situation.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;s about time: Kelly Clarkson is coming to Las Vegas for a residency at Planet Hollywood, running from April 1 of next year through the following September. Having been on the scene for nearly 20 years (already?), Clarkson will have &hellip; <a href=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/clarkson-takes-vegas-penn-exudes-confidence\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":16543,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[275,28,14,4,58,84,112,69,92,9,38,233],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/25247"}],"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=25247"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/25247\/revisions"}],"predecessor-version":[{"id":25248,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/25247\/revisions\/25248"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media\/16543"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=25247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=25247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=25247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}