{"id":25377,"date":"2019-11-15T10:52:44","date_gmt":"2019-11-15T18:52:44","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=25377"},"modified":"2020-10-19T06:50:18","modified_gmt":"2020-10-19T14:50:18","slug":"big-bounce-at-igt-cosmo-revises-restaurant-lineup","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/big-bounce-at-igt-cosmo-revises-restaurant-lineup\/","title":{"rendered":"Big bounce at IGT; Cosmo revises restaurant lineup"},"content":{"rendered":"

“What’s 23% Between Friends?” So asked Credit Suisse<\/strong> analyst Ben Combes<\/strong> as he reported on International Game Technology<\/strong>‘s 3Q19 earnings call. IGT’s $407 million in cash flow exceeded consensus Wall \"\"Street<\/strong> expectations by 3%. IGT stock vaulted 23% on the news. “We like IGT\u2019s defensive revenues, long-term contracts and\u00a0stabilizing US gaming business,” Combes wrote. “Offsetting this is ongoing concerns in Italy<\/strong> around taxes, low growth, and a deleverage story that will take time to play out before capital returns increase.” Replacement sales in the U.S. were very strong, up 38%, while lottery and VLT revenues rose 1%. A 12% increase in Italian taxes translated into $127 million less operating income. Mamma mia<\/em>! No mention seems to have been made of the ongoing Rhode Island<\/strong> political controversy.<\/p>\n

* Casino revenues in Detroit<\/strong> were flat last month. MGM Grand Detroit<\/strong> slipped 2% to $49 million. Conversely, MotorCity<\/strong> was up 2%, reaching $39 million, while Greektown<\/strong> was flat at $27.5 million.<\/p>\n

* Vesper Bar<\/strong> at The Cosmopolitan of Las Vegas<\/strong> is under wraps for the time being. It is receiving an extensive remodeling<\/a> but is not going away permanently. It will reopen in late autumn. It’s nine years old, after all. No such luck for family friendly Big Whiskey’s American Restaurant<\/strong>. It lasted a mere nine months at the Cosmo and has closed. So much for the idea of opening a second restaurant in the Las Vegas<\/strong> area. Also on the outs is Plantone’s Italian Market<\/strong>, although that managed to eke out three years at the Cosmo.<\/p>\n

* Another Vegas icon goes away as the Hard Rock Caf\u00e9<\/strong> on Harmon Avenue is demolished this week. At least the Neon Museum<\/strong> intervened to save the massive guitar marquee, which has taken up residence in the neon boneyard.<\/p>\n

* Former Cincinnati Bengal<\/strong> and Dancing with the Stars<\/em> contestant Chad Ochocinco<\/strong> has achieved gainful employment as the host of the Bleacher Report Betting Game Show<\/em>, to be to be taped in Caesars Palace<\/strong>‘s B\/R Studio<\/strong>. “The show will be open to the public to participate in a series of fun, interactive games, and the chance to win prizes,” as yet unspecified.<\/p>\n

* Preferring a buyout to bankruptcy (not a tough decision), Empire Resorts<\/strong> shareholders agreed to a takeover by Genting Malaysia<\/strong> and Kien Huat Realty III<\/strong>. Not all shareholders were happy campers, contending \"\"that $9.74 per share was dirt cheap compared to Genting’s predictions of a quadrupled financial performance at Resorts World Catskills<\/strong>. Lawsuits have been filed in Delaware<\/strong>, alleging a breach of fiduciary trust and a failure to seek maximum value for the property. Empire Resorts CEO Ryan Eller<\/strong> and Genting Americas<\/strong> President Edward Farrell<\/strong> said this was \u201cthe first step toward fulfilling the promise and potential of New York<\/strong>\u2019s most-prized integrated casino resort destination.\u201d<\/p>\n

* M Resort<\/strong> cut a deal with the soon-to-be Las Vegas Raiders<\/strong>. M will become the “team headquarters hotel,” which means upstanding citizens<\/a> like Richie Incognito<\/strong> will stay there prior to home games. Still, it’s a feather in the cap for Penn National Gaming<\/strong> and black eye for anybody else who didn’t make the arrangement first.<\/p>\n

* Speaking of team spirit, Marie Osmond<\/strong> will not let an injured knee keep her offstage during Saturday night’s farewell performance of Donny & Marie<\/em> at the Flamingo Las Vegas<\/strong>. It’s been a great 11-year run and we’re sorry to see them go.<\/p>\n

Jottings<\/em>: In the same week that major-league sports said they’d support wagering in Missouri<\/strong> so long as they got a piece of the action (isn’t that bribe solicitation?), TD Ameritrade<\/strong> disclosed that it might dabble in fantasy sports. The company already provides sports-analytical tools to \"\"ESPN<\/strong> … Dec. 12 is the date certain for the opening of Horseshoe Southern Indiana<\/strong>‘s new, land-based casino, completing the phase-out of the Glory of Rome<\/em> riverboat, which metaphorically sets sail on Dec. 9. Caesars Entertainment<\/strong> was thrifty on the replacement, spending only $90 million on the new casino, which will have 1,200 slots and 86 tables, counting poker. Glory of Rome<\/em> will be sold … sometime.<\/p>\n","protected":false},"excerpt":{"rendered":"

“What’s 23% Between Friends?” So asked Credit Suisse analyst Ben Combes as he reported on International Game Technology‘s 3Q19 earnings call. IGT’s $407 million in cash flow exceeded consensus Wall Street expectations by 3%. IGT stock vaulted 23% on the … 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":[244,66,164,44,18,4,120,140,29,68,22,255,264,63,245,39,101,69,243,31,9,17,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/25377"}],"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=25377"}],"version-history":[{"count":4,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/25377\/revisions"}],"predecessor-version":[{"id":28445,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/25377\/revisions\/28445"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=25377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=25377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=25377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}