{"id":6671,"date":"2011-05-17T12:01:34","date_gmt":"2011-05-17T20:01:34","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=6671"},"modified":"2011-05-17T12:19:08","modified_gmt":"2011-05-17T20:19:08","slug":"this-wont-play-in-vegas","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/this-wont-play-in-vegas\/","title":{"rendered":"This won’t play in Vegas; Second wind for Sands"},"content":{"rendered":"

\"\" Steve Wynn<\/strong> is singing his “we’re a Chinese company” refrain again<\/a>. This never goes over well on the home front when he does it and his threat to move corporate HQ to Macao<\/strong> was met with a general chorus of, “How can we help you pack up and leave?”<\/p>\n

But the Wynner has point. When it comes to revenue growth, China<\/strong> (and the larger Pacific Rim<\/strong>) is where it’s at nowadays. Las Vegas<\/strong> is years, perhaps many years away from justifying major new development. Domestic markets that are on the cusp of gambling expansion are either moving slowly (Massachusetts<\/strong>) or are otherwise problematic (Florida<\/strong>). So if you take China out of Wynn Resorts<\/strong>, its present and future dim considerably.<\/p>\n

\"\"Photo finish<\/strong>. Table-game revenues have been reported in Pennsylvania<\/strong> and Sands Bethelehem<\/strong> (+8%) continues to exceed Wall Street<\/strong>‘s expectations by a healthy margin. Although Sands brought in almost $8 million at the tables, Harrah’s Chester Downs<\/strong> nipped it at the wire, grossing $100K more. Gaming expansion continues to drive enormous revenue growth at the casinos, with The Rivers<\/strong> in Pittsburgh and Sands (+46) surging the most, while little Presque Isle<\/strong> racino (+8) brings up the rear.<\/p>\n

The pecking order remains the same. Parx Casino<\/strong> ($43 million, +23%) remains the unrivaled top dog and Rivers ($30 million) continues sneaking up on Sands ($31.5 million) for the #3 spot. With Sands’ long-promised hotel set to open in a fortnight, we’ll see if that puts a third<\/em> wind in Sands’ sails … and how much a welter of looming construction costs dampens that breeze.<\/p>\n","protected":false},"excerpt":{"rendered":"

Steve Wynn is singing his “we’re a Chinese company” refrain again. This never goes over well on the home front when he does it and his threat to move corporate HQ to Macao was met with a general chorus of, … 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":[36,7,22,62,112,91,95,111,12,32,9,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/6671"}],"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=6671"}],"version-history":[{"count":4,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/6671\/revisions"}],"predecessor-version":[{"id":6674,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/6671\/revisions\/6674"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=6671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=6671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=6671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}