{"id":501,"date":"2008-11-03T12:36:00","date_gmt":"2008-11-03T20:36:00","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/blogs\/dmckee\/index.cfm\/2008\/11\/3\/Missouri-amendment-to-pass-JP-Morgan"},"modified":"2008-11-03T12:36:00","modified_gmt":"2008-11-03T20:36:00","slug":"missouri-amendment-to-pass-jp-morgan","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/missouri-amendment-to-pass-jp-morgan\/","title":{"rendered":"Missouri amendment to pass: JP Morgan"},"content":{"rendered":"

Analysts at JP Morgan<\/strong> like the chances for a Missouri constitutional amendment<\/strong> largely bankrolled by Ameristar Casinos<\/strong> and Pinnacle Entertainment<\/strong>. While Ameristar stands to benefit<\/a> in tangible ways, JP Morgan focuses on what it could for Pinnacle: a 15% increase in Lumiere Place<\/strong> cash flow and perhaps another $2 per share (at $5.41 as of this moment).<\/p>\n

Other takeaways from today's investor note: 1) Lake Charles<\/strong>, La., which Pinnacle dominates, looks good to buck the national trend and keep growing its casino revenue; 2) the heretofore disappointing Lumiere Place is at "an inflection point" in which its Four Seasons<\/strong> hotel starts to become a contributor instead of "a drag on earings"; 3) Pinnacle is holding its ground, at Belterra<\/strong>, better than most of its southern Indiana competitors — Penn National<\/strong>'s Argosy Lawrenceburg<\/em> in particular.<\/p>\n

There's still the matter of the $600 million River City<\/strong> project in suburban St. Louis and Pinnacle's stymied Atlantic City<\/strong> megaresort. Pinnacle appears to have let spending get pretty exuberant (only in its $250 million Baton Rouge<\/strong> riverboat casino do budget and market really seem to square up), so it'd premature for CEO Dan Lee<\/strong> to take any victory laps — not that it would be in his nature.<\/p>\n

Update:<\/strong> Only in the convoluted logic of the Las Vegas Review-Journal<\/em> would a constitutional amendment that bars new casinos from Missouri be blithlely described as "Gaming expansion<\/a>." So, if Ohio<\/strong> voters approve Lakes Entertainment<\/strong>'s proposed casino, will that be "gaming contraction"?<\/p>\n","protected":false},"excerpt":{"rendered":"

Analysts at JP Morgan like the chances for a Missouri constitutional amendment largely bankrolled by Ameristar Casinos and Pinnacle Entertainment. While Ameristar stands to benefit in tangible ways, JP Morgan focuses on what it could for Pinnacle: a 15% increase … 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":[40,23,68,84,39,69,30,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/501"}],"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=501"}],"version-history":[{"count":0,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/501\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}