Commentaries

The situation has gone from bad to worse in Macau. Last week, the investment community used a news event a world away to prop up the stock of one Macau casino operator. On Monday, the Chinese gaming market was red-flagged when Wells Fargo Securities gaming analyst Cameron McKnight became the latest Wall Street researcher to post warning signals. McKnight told investors Macau could see … [Read more...]

ATLANTIC CITY Four years ago, the obituaries for Resorts Atlantic City were being written. The city’s oldest hotel-casino — the first U.S. gaming hall ever licensed outside of Nevada — was in disrepair. The aging resort was bleeding money. Management of the 1920s-era art deco building was troubled. Customers were fleeing to other Boardwalk properties. No one envisioned that in September … [Read more...]

ATLANTIC CITY - New Jersey Division of Gaming Enforcement Director David Rebuck had one fear in restoring MGM Resorts International’s gaming license for its 50 percent interest in the Borgata. He worried that the Las Vegas-based casino giant was going to take its $86 million from a trust account and flee the state. MGM Resorts Chairman Jim Murren put those fears to rest after a nearly … [Read more...]

The Boston-area license has been granted in Massachusetts. Steve Wynn won out over Mohegan Sun in a hotly contested competition for the license. The gaming commission said it thought Wynn had a better proposal and was more able to finance and bring to market its proposal. The commission may be right, but regardless of right and wrong, the decision is highly contentious. The mayor of Boston is not … [Read more...]

Four years ago, Multimedia Games was all but kaput. CEO Anthony Sanfilippo fled for a similar role with casino operator Pinnacle Entertainment and the slot machine manufacturer was headed for the scrap heap. Austin, Texas-based Multimedia put itself up for sale but couldn’t attract a buyer. Six months later, the company changed direction. The “For Sale” sign was taken down, and Multimedia … [Read more...]

he outlook for U.S. slot machine industry continues to be bleak. Analysts said this month the replacement market — in which slot machine manufacturers sell casinos newer games to change out older products — has fallen from previous estimates. Eilers Research founder Todd Eilers said slow demand from casinos in the United States and Canada through June could result in a 28.6 percent decline … [Read more...]

This week, at the yearly Apple Keynote, Apple released two new, different iPhones, and a new smartwatch. Apple has been releasing one iPhone at a time since the original iPhone, so why the change? Apple, getting wiser with the years, has realized that one size does not fit all and is finally giving consumers a choice, a marked difference from the Steve Jobs era. If you thought that the iPhone 5 … [Read more...]

Caesars is said to have a database of over 35 million people. That database is the result of years of mergers, acquisitions and aggressive marketing efforts. The company always touts the database as the major source of its casino revenues. Some of the Caesars bondholders would like to know how much those 35 million customers are worth on the open market. They think it is time to monetize those … [Read more...]

ATLANTIC CITY — Struggling U.S. gaming markets must broaden their appeal or prepare to for the same fate as this troubled seaside community, New Jersey’s top gaming regular said Tuesday. David Rebuck, director of the state’s Division of Gaming Enforcement, said Atlantic City in recent years has seen challenges “not faced anywhere else in the U.S.” By next week, one-quarter of the city’s … [Read more...]

ATLANTIC CITY -- The Claridge is the past and the future of the Boardwalk. The 1920s-era hotel was once the toast of Atlantic City, sitting at the famous intersection of Boardwalk and Park Place. It earned the market’s fourth gaming license, back when developer Del Webb owned the building. But the Claridge hasn’t seen a slot machine handle pull or a toss of the dice since 2005. Park Place … [Read more...]

Airlines are notorious for playing it close to the vest when it comes to discussing plans consumers would be interested in. But when airline executives attend an event like the Boyd Group International Aviation Forecast Summit, they tend to open up. Maybe there’s a sense of competitive oneupsmanship in play. Whatever the reason, representatives of many of the airlines that serve McCarran … [Read more...]

Kerry Francis Bullmore Packer was the richest man in Australia when he died. His family made its money in publishing and broadcasting. Kerry inherited the family business and a fortune. Both grew during his stewardship. Packer was a highly regarded and respected business man and he had a true passion for gambling and in the world of gambling he was a legend. Packer is said to have made the largest … [Read more...]

It may be no coincidence that the Association of Certified Anti-Money Laundering Specialists will be hosting its annual conference in Las Vegas this month during the same week as G2E, just down the strip. Whether the overlap in dates is random or not, it’s true that anti-money laundering compliance is the new zeitgeist issue for the gaming industry. According to research by the Financial … [Read more...]

In the days leading up to last month’s opening of the SLS Las Vegas, Sam Nazarian’s phone was ringing off the hook. Nazarian, 39, the visionary behind the Strip’s first major hotel-casino unveiling in four years, quickly learned he had support from the competition for the $415 million renovation of the Rat Pack-era Sahara. Wynn Resorts Ltd. Chairman Steve Wynn phoned from somewhere halfway … [Read more...]

The opening of the Showboat Atlantic City 27 years ago carried the hoopla of a Las Vegas celebration. Legendary entertainer Bob Hope broke a champagne bottle at building’s base to christen the resort, which was designed to resemble a cruise ship. Jazz trumpeter Al Hirt performed in the Mardi Gras-themed lounge on opening night. Showboat officials were joined by Atlantic City leaders and … [Read more...]

For 30 years I’ve been eating in Vegas casino restaurants, first as a frequent visitor and then, the last 14 years, as a resident. Although I’ve always been very health-conscious, regularly exercising and watching my diet, I’ve been losing what might be called the Buffet War. This war has not been a series of dramatic battles, but a slow chipping away of my defenses, about one pound managing to … [Read more...]

Florida has become a hotbed of dispute on gambling matters, with much debate in the state legislature about casino expansion. The terrain is by no means smooth for those looking to expand gaming; both sides that are weighing in on the subject have pretty impressive reach and deep pockets. Those involved include Malaysian-based gambling giant Genting as well as the old American pie stalwart … [Read more...]

The Delano Las Vegas is best described as South Beach meets the Mohave Desert. MGM Resorts International completed the summer-long $80 million renovation of The Hotel, an 1,100-room nongaming property on the south Strip attached to Mandalay Bay. The remake resulted in redesigned entry and lobby areas with new restaurants and public spaces. Floor access was increased for improved traffic … [Read more...]

That used to be an easy question to answer, not just for those two states, but for any state with casinos. However, it is getting more difficult to find the casino revenue figures for some jurisdictions and it is annoying. I have been following the industry and republishing those numbers monthly for the last 18 years, but it gets harder every year. When I started doing a monthly report on gaming … [Read more...]

The online gaming community believes PokerStars’ planned entrance into New Jersey’s Internet wagering market in October is the fuel needed to kick-start the state’s stagnant gambling activity into overdrive. The tainted European betting giant — which was bought this summer in a staggering $4.9 billion transaction by Amaya Gaming Group — was angling for a piece of New Jersey’s action long before … [Read more...]

NEW YORK — Forget bad weather, traffic jams and kids asking, “Are we there yet?” The real headache for many travelers is a quickly growing list of hotel surcharges, even for items they never use. Guaranteeing two queen beds or one king bed will cost you, as will checking in early or checking out late. Don’t need the in-room safe? You’re likely still paying. And the overpriced can of soda may be … [Read more...]

Las Vegas Boulevard now can be seen as a classic carnival midway. The increase of street pedestrians is obvious and the street-accessible opportunities to spend are widely evident. This is no accident. If you drove the strip 20 years ago it was far more open, with few to no businesses on side streets, because the master plan of every significant casino was to define its brand with an elaborate … [Read more...]

In a recent conversation with Jeff Compton, he asked if I thought Atlantic City was a failure. It is not an uncommon question. If you Google “Atlantic City a failed experiment,” you get dozens of hits written over the last two years. The reason for the question is obvious; casinos are closing. Within a month, Revel, Showboat and Trump Plaza will be closed. Add to that list the Atlantic Club which … [Read more...]

Activist investors believe the real estate underneath casinos owned by Pinnacle Entertainment and Boyd Gaming Corp. is key to unlocking hidden value within the Las Vegas-based regional gaming operators. Two New York-based hedge funds want Pinnacle and Boyd to spin off their casinos into real estate investment trusts, referred to as REITs. Company officials aren’t sold on the idea. Or, … [Read more...]

In a summer filled with important new books on poker, Molly Bloom -- known to the tabloids as the "Poker Princess" -- has written something of a blockbuster. It's called "Molly's Game: From Hollywood's Elite to Wall Street's Billionaire Boys Club, My High-Stakes Adventure in the World of Underground Poker." And what a book it could've been, with A-list movie stars in weekly hand-to-hand combat … [Read more...]

Mike Dreitzer credits his success to the mentors he has had in 20 years as an attorney and gaming executive in Nevada. Folks such as former Nevada Assembly Speaker Barbara Buckley, ex-Gaming Control Board Chairman Bill Bible, former Gov. Mike O’Callaghan and gaming executive and gaming lawyer Shannon Bybee helped Dreitzer early in his career. So it was natural that Dreitzer had an interest … [Read more...]

When it comes to building its client base, Anthem-based public relations and marketing firm Imagine Communications seeks to represent those who inspire, Partner and Creative Director Alex Raffi said. “That’s more important to us than anything,” he said. “I want my staff to be proud to be associated with a client.” When Raffi and Managing Partner Brian Rouff opened Imagine Communications 13 … [Read more...]

Boyd Gaming Corp. told investors last month it planned to change out a few of the restaurants, nightlife spots and other nongaming attractions inside several of the company’s area casinos to boost overall revenue. This particular plan has been met with success along the Strip, but has been slow to be embraced by regional markets. Gaming revenue can’t always be counted on to boost a company’s … [Read more...]

CG Technology CEO Lee Amaitis wanted to know the whereabouts of about $9 million that Nevada sports book operators paid to the federal government last year through a tax on all sports wagers. It seemed like a simple question. Amaitis asked Rep Dina Titus, D-Nev., if she could find out. The Internal Revenue Service took several months to answer the query posed by Titus’ legislative … [Read more...]

A leading gaming executive was asked on background a few months ago if he understood Caesars Entertainment Corp.’s financial maneuverings to restructure the casino company’s $24.2 billion in long-term debt. He just smiled. “Gary seems to understand what he’s doing.” For now, Caesars Entertainment Chairman Gary Loveman is an island unto himself. Earlier this month, in a lawsuit filed by … [Read more...]

A few years ago, when the recession had a firm chokehold on the casino industry, MGM Resorts International was a mess. CityCenter opened in December 2009 to cost overruns and a depressed consumer market. MGM Resorts’ stock price was trading in single digits, and the company was looking to unload several hotel-casinos to bolster its sagging balance sheet. MGM Resorts’ survival was actually in … [Read more...]

It has always been natural for me to compare Atlantic City and Reno. Maybe that’s because like most people in the casino industry in Reno, I have always been envious of the volume of business of the Boardwalk casinos. And Atlantic City did replace Reno in the number two spot on the casino revenue list, pushing us down the path to never again being near the top of the list. So when Atlantic City … [Read more...]

The image of downtown Las Vegas has shifted so dramatically in recent months that it might be hard for newcomers to imagine a time before the spreading influence of Tony Hsieh and his friends. Before downtown became the canvas for Hsieh’s creative business marketing and real estate vision, Benny Binion defined the Fremont Street experience. Jackie Gaughan owned more casinos, and Steve Wynn used … [Read more...]

Australian billionaire James Packer wasn’t openly seeking endorsements after acquiring controlling interest in a Strip parcel earlier this month. But he found support from a potential competitor. Packer, CEO of Melbourne-based Crown Resorts Ltd., is forming a company with ex-Wynn Las Vegas President Andrew Pascal and investment firm Oaktree Capital Management to construct a hotel-casino on … [Read more...]

EDM is the acronym for Electronic Dance Music, the fastest-growing type of music in the nation. Michael Rapino, CEO of Live Nation, has called it the "new rock and roll genre”. Robert F. X. Sillerman, the SFX Entertainment founder, pledged a billion dollars of investments in EDM-related properties in 2012. Whatever your personal view about the longevity of this digital genre, it is now a … [Read more...]

(Bloomberg View) -- From the day it opened in April 2012, Revel Casino Hotel in Atlantic City loomed as a shimmering $2.6 billion monument to misguided optimism. Now, deeply unprofitable, it plans to close. Its saga illuminates two misconceptions about the relationship between gambling and government. The first is that casinos will be a savior for state and local budgets. In the months before … [Read more...]

It is official. Revel is closing September 10th. The Revel operating company says that even if a buyer is found, the property will still close as it is no longer able or willing to continue to finance the casino operations. A new buyer would have to be investigated and granted a casino license before Revel could reopen. The Associated Press reported that a number of potential buyers are in … [Read more...]

The combined $11.5 billion in lottery company-slot machine company mergers in the past few weeks has the investment community relieved. The gaming equipment sector, in the eyes of some analysts, has been bloated. A soft replacement market for new games left slot machine manufacturers with a backlog. In the past few years, many new products never made it from the Global Gaming Expo trade … [Read more...]

For casino titans Steve Wynn and Sheldon Adelson, the roaring Macau casino market has been a seemingly endless party of rapid expansion and record-setting profit. Stock in Wynn Resorts International and Las Vegas Sands Corp. has rocketed, and the personal wealth of the mercurial multibillionaire CEOs has climbed into the upper stratosphere. Wynn is enormously wealthy, and Adelson ranks as one … [Read more...]

In his first meeting as chairman of the Nevada Gaming Commission, Tony Alamo Jr. turned the Sawyer Building conference room into a doctor’s office. Alamo, a specialist in internal medicine, is the first nonattorney to head the part-time regulatory panel. Using a bedside manner similar to how he would address a patient, Alamo attempted to calm the jittery emotions of a restricted gaming … [Read more...]

Despite the flurry of recent media reports proclaiming the downfall of the East Coast’s sin city, Atlantic City is taking the right steps to reinvent itself as a diversified resort destination. The problem is that the process to build a new economy not wholly dependent on casino gaming should have started 30 years ago. With gaming revenues steadily declining since 2006, the city has commendably … [Read more...]

(Note: in this article, a “local” casino is one whose customer base lives relatively nearby.) The success of local casinos frequently depends on several visits per player per month. Typically these casinos “bribe” players to come in regularly. The bribery might be free play in 10 doses over a month --- where each time the player must visit on one or two specific days or the free play is … [Read more...]

Forty years ago, Reno was in the midst of a casino boom. Within a few years, the MGM Grand opened along with the Comstock Hotel, Riverboat, Sahara Reno, Sundowner, Virginian, Peppermill, Atlantis, Silver Legacy, Circus Circus and Kings Inn. Sadly, there were not enough local customers or tourists for all of those new casinos. The situation became worse as gaming spread all over the West Coast and … [Read more...]

Less than 10 months ago, Gavin Isaacs was jobless. By early next year, Isaacs expects to be CEO of a company that controls two of the world’s top three slot machine manufacturers, the casino industry’s largest supplier of table games and casino management products, and the biggest U.S.-based provider of lottery systems. Last week’s surprising announcement that lottery giant Scientific Games … [Read more...]

One day when I was three years old, I was wandering around our front yard while my father was gardening. To amuse myself I climbed into the front seat of our car and began playing. Getting bored with the steering wheel, I decided to play with the big stick on the right side. Suddenly the car rolled backward down the driveway across the street, stopping on the grass medium strip separating the two … [Read more...]

The empty Strip land parcel that once housed the New Frontier has a new lease on life, but its future is still unclear. Australian billionaire James Packer said he acquired controlling interest in the nearly 35-acre site and will form a yet-to-be-named company to build a hotel-casino on the land in partnership with former Wynn Las Vegas President Andrew Pascal and investment firm Oaktree … [Read more...]

“I came, I saw, I purchased in Las Vegas.” That’s increasingly true as additional shopping opportunities are added to the Las Vegas tourist experience. Mirroring the concepts of its larger production shows, Las Vegas strives to have its shopping experience exceed what tourists can experience in their own home retail community. “Only in Las Vegas” is the goal. Shopping must be exemplary in … [Read more...]

While a photographer adjusted lighting equipment, Aristocrat Leisure Ltd. CEO Jamie Odell relaxed in the Australian gaming equipment manufacturer’s south Las Vegas showroom and played a few free spins on a “Batman” slot machine. Dressed casually in jeans, a dress shirt minus the tie and a sports coat, Odell, 55, was anticipating a 14-hour plane flight that evening. He was returning to Sydney … [Read more...]

Donald Trump has always been great at grabbing headlines. Wherever he goes he creates a flurry of media excitement and wherever he goes he makes very big promises. Trump has done that in real estate development, publication, retail, television, sports and gaming. But, after 40 years of owning casinos, it is impossible to take him seriously. He is better at filing for bankruptcy than he is at … [Read more...]

For gaming revenue, worldwide, no casino game comes close to baccarat. As new casinos are built and new jurisdictions open, there is increasing competition for premium baccarat players. In a buyer’s market, these players have the leverage to dictate liberal game conditions and substantial financial incentives. Taken together with the advent of smart phone technology, there are new possibilities … [Read more...]

Editor’s Note: Nevada 150 is a yearlong series highlighting the people, places and things that make up the history of the state. Casino ownership in Las Vegas has attracted its share of characters, from the mob-backed era of the 1960s and 1970s to reclusive billionaire Howard Hughes to the publicly traded corporate titans of today. Then there was Bob Stupak. He owned just one casino in … [Read more...]

Analysts have long speculated about the coexistence of online poker and live casino poker rooms in Nevada. The recent World Series of Poker at the Rio showed the marriage might last. In June, Nevada’s three online poker websites — WSOP.com, Ultimate Poker and Real Gaming — collected a combined $1.037 million in gaming revenue. It was the first time the state’s online poker community cracked … [Read more...]

With six months on the books, the investment community have a clear picture of the casino industry in 2014. Las Vegas is on an upswing. Gaming revenues have jumped more than 5 percent over the last three months and the Strip is poised to record its fifth straight annual gaming revenue increase since 2009, when the market reverted back to 2004 numbers. As for the regional gaming markets? … [Read more...]

The $6.4 billion acquisition of slot machine manufacturer International Game Technology by lottery provider GTECH shouldn’t have surprised anyone in gaming. A deal between the two industry giants almost happened 14 years ago, albeit with different corporate players and under different circumstances. IGT almost bought GTECH. “This is a dance that has been going on for 20 years,” said one … [Read more...]

The 160,000-square-foot North Las Vegas warehouse and headquarters of Nevada Restaurant Services — parent company of the Dotty’s chain of taverns — is a cross between Costco, Home Depot, a slot machine manufacturing plant and a direct-mail house. Everything making up a Dotty’s — think a grandmother’s house with gambling devices — sits in the warehouse. Near the building’s executive suites is … [Read more...]

A hedge fund that owns 4.5 percent of Pinnacle Entertainment reiterated its call that the regional casino operator split the company to include a real estate investment trust. Orange Capital, LLC, a New York-based investment firm, believes Pinnacle’s share price could increase between 60 percent and 90 percent in value if the Las Vegas-based company were to create a REIT. Orange Capital made … [Read more...]

Our industry puts tremendous resources behind educating patrons and employees about responsible gaming and recognizing the signs of a gambling disorder. This year, we’ve integrated Responsible Gaming Education Week (RGEW) into our broader “Get to Know Gaming” public affairs campaign – we’re encouraging everyone to “Get to Know Responsible Gaming.” Equipping the Industry The AGA has developed … [Read more...]

A regulatory mandate that Nevada gaming license holders stay away from the state’s neophyte medical marijuana business could be challenged again Thursday at the Nevada Gaming Commission. But the outcome is inevitable. The Gaming Control Board’s May 6 industry notice to gaming license holders — saying they must choose between medicinal pot and gambling — won’t be altered. Possession and … [Read more...]

One of the most recognized gamblers in popular American history died Saturday, and the keepers of the Strip didn’t even bother to dim the lights. Although he never won a World Series of Poker bracelet or a $1 million jackpot, James Garner’s “Maverick” character was the first acceptable gambler portrayed on television. He was handsome, clever, never cheated a sucker — and always outsmarted the … [Read more...]

The idea of a full-scale smoking ban in Nevada casinos seems out of place. The “No Smoking” concept doesn’t fit the Strip’s “do anything” reputation. Of the 23 states with commercial casinos, 18 outlaw smoking in casinos. In Nevada, a voter referendum in 2006 banned smoking in all public places — excluding casino floors. One gaming analyst, however, has warned investors that a Strip … [Read more...]

Living in Nevada, it’s sometimes easy to forget how large a role the gambling industry plays in civic affairs. After all, we’re used to casinos running the show. In fact, during the last session of the Legislature, one lobbyist allowed that protecting the state’s No. 1 industry (gambling) was the highest priority of the Legislature. It wasn’t immediately clear where protecting the public … [Read more...]

"Head north to find the action" may soon be the new creed of Las Vegas tourism, but does the north end of the strip actually have the potential to become the new south? Considering the explosion of new projects and attractions that will define the true north and appeal to younger masses, the change is more reality than marketing hype. Has the south done anything to drive guests away? Absolutely … [Read more...]

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Baseball, which evolved in the U.S. Northeast around the same time poker was emerging along the lower Mississippi, is now played in dozens of countries, and most of its best players are from Latin America. Basketball, our other 19th-century sport, is even more popular globally. Yet because of a noxious mix of puritanical and cynical politicians, it is illegal in 47 states to play the country's … [Read more...]

The damage to Atlantic City associated with Superstorm Sandy in 2012 amounted to a few broken windows compared to the economic tornado tearing through the Boardwalk this year. Four casinos could be closed by fall, displacing more than 8,000 workers — 25 percent of the city’s workforce — and leaving the famous seaside resort looking more like a boarded-up slum. Since 2006, Atlantic City’s … [Read more...]

As he had early on, Zach Jiganti, an up-and-coming poker savant, dominated his table pretty much from noon to midnight on Day Three and most of Day Four of the World Series of Poker's Main Event. In one hand, he called a raise in the big blind bet from a middle-aged dad type in a baseball cap and goatee sitting four seats to his left. There'd been some friendly conversation leading up to the … [Read more...]

Over the past several decades, casinos have proven to be powerful economic engines in communities from coast to coast. Because of our many contributions, Americans today view gaming more favorably than ever before. But like most businesses, casinos operate in a highly competitive environment. The evolving situation in Atlantic City should send a message to other gaming communities: restrictive … [Read more...]

Isle of Capri Casinos may have answered questions of whether or not the regional casino operator was for sale. On Thursday the St. Louis-based company announced a management shake-up at the corporate level, eliminating the executive chairman role with the board of directors and the chief strategic officer position. Isle of Capri also eliminated several other senior positions in the corporate … [Read more...]

Writers worry about transitions all the time. We want to find the most seamless -- or arrestingly abrupt -- move from Point A to Point B, from a summary of the myriad events at a massive poker tournament, say, to the intricate details of a subtly contested hand. From the thrill of victory to the agony of defeat, in some cases. That's the kind of thing that's been occupying me since I arrived at … [Read more...]

As this summer's final World Series of Poker event heads into Day Three, there have been more than a few remarkable developments. The 65 tournaments drew a record 82,360 entries, generating the largest total prize pool in history: $225,584,873. At least that much was won and lost in the side games still being held at the Rio, the Bellagio, the Aria and other Las Vegas card rooms. World Series … [Read more...]

International Game Technology is the most prominent gaming company with a “For Sale” sign planted in the front yard. But the slot machine giant is not alone. For the first time since the recession dried up credit markets and brought mergers and acquisition activity to a standstill, the casino industry is awash with speculation about transactions. Over the next few months, several big-name … [Read more...]

On June 1st, Harrah’s Casino Tunica closed its doors for good. Harrah’s shocked the Mississippi Gaming Commission and many others with the announcement it would close its Harrah’s Tunica. The company said there are too many casinos in Tunica for the number of customers the market attracts. The dice are no longer rolling and the slots aren’t spinning at Harrah’s Casino in Tunica. The casino lights … [Read more...]

Pity the parents of Xiao Cai, a young woman from Wuxi, China, who lost the equivalent of $161 betting on World Cup matches. When her folks refused to cover the losses, she fled to Shanghai and -- pretending to be a kidnapper -- sent them a note claiming that she’d be prostituted if they didn’t pay a ransom equal to $3,200 (presumably, to be bet on Germany). The police weren’t fooled. With little … [Read more...]

The Graton Resort near Santa Rosa, Calif., has not yet celebrated its first anniversary. But one analyst hinted recently the Indian casino — which was built by Station Casinos and is being operated by the locals gaming giant — is quickly rising to the top of the class in tribal gaming-rich California. The casino cost $800 million and is owned by the Federated Indians of Graton Rancheria. The … [Read more...]

Don’t say “sayonara” to casinos in Japan quite yet. Japanese lawmakers are just taking a summer break. The country’s prime minister even said he’ll push for casino legalization when the Diet, Japan’s national legislature, returns for a special session in September. Which means Las Vegas’ top gaming executives will spend more time across the Pacific Ocean later this year. Although … [Read more...]

By around 7:20 Tuesday night, only two remained of the 42 players who entered the Big One for One Drop -- the three-day, $42 million charitable poker tournament that requires a $1 million buy-in. Dan Colman, a quiet 23-year-old online specialist from Massachusetts, was about to go heads up with poker's most famous player, the tough but cheerful Canadian Daniel Negreanu, known as Kid Poker, the … [Read more...]

I recently visited a number of casinos in Asia, where I had the opportunity to learn more about the cash-incentives they give to their baccarat high-rollers. Many casinos use some variation of a “rolling chip” program. These programs rebate a percentage of a player’s total action in cash. The trick to making this work is that the player makes his wagers with so-called “non-negotiable” (NN) chips. … [Read more...]

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At this summer's World Series of Poker in Las Vegas, players can test their skills in 16 modern variants of our 200-year-old national card game. These include badugi, badeucy, seven-card stud, deuce-to-seven triple draw, pot-limit Omaha high-low-split eight-or-better, and even mixed-game events such as H.O.R.S.E. (Hold 'em, Omaha eight-or-better, Razz, Stud and stud Eight-or-Better). Yet … [Read more...]

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As he was exiting the Sawyer Building’s second-floor hearing room following a Nevada Gaming Commission monthly meeting, Chairman Peter Bernhard was complimented by a state gaming enforcement agent on his handling of individuals and companies seeking licensing approval. Whether it was a corporate executive whose company operates multiple Strip resorts or a small- business person opening a single … [Read more...]

A small and relatively insignificant news item caught my eye recently. In the report, the Golden Nugget Casino in Lake Charles, Louisiana is postponing its opening for nearly six months. I don’t really understand the reason, but in part it was due to Louisiana’s regulatory requirements. The Nugget wanted to change the conditions of its license for the amenities it would provide and needed the … [Read more...]

The pool season is well underway, and day club pool parties are experiencing record throngs - thongs from younger residents and tourists alike. Pools were always considered a resort amenity but now are viewed as a significant daytime entertainment attraction, just as EDM clubs target the late night crowds. The revenue stream can be impressive if the pool party has the right "vibe". Revenues … [Read more...]

Its 4:00 a.m. in the morning – Cleveland time. I’m in my middle of my morning CDC newsroom editing chores (albeit a little early, but I am on a new training regimen that has thrown my sleep schedule way off.) I’m looking at four stories – all of them less than 24 hours old, all concerning Caesars Entertainment. Union: New Jersey casino warns of possible closure Later this morning … [Read more...]

More than 40 people have paid $1 million apiece to play in an unusual poker tournament this weekend. Its buy-in is 100 times that of the World Series of Poker's Main Event. Its first prize could approach $20 million. And all but a handful of players will lose every dime. The second biennial Big One for One Drop tournament is poker's premier philanthropic event. And with its compelling mix of … [Read more...]

As investors place bets on Prime Minister Shinzo Abe’s program for economic growth, the success of Japan’s revival plans may rest, oddly enough, on casinos. For more than a decade now, Las Vegas Sands chief Sheldon Adelson and his counterparts have salivated over bringing gambling tables to Asia’s richest nation. Abe is nudging lawmakers to legalize casinos to help boost gross domestic product. … [Read more...]

The last time Macau’s casino industry experienced a monthly gaming revenue decline, the Los Angeles Lakers won their 16th National Basketball Association championship and the Los Angeles Kings were National Hockey League doormats. Fortunes can change quickly in both sports and gambling. Last season, the Lakers were one of the NBA’s worst teams. The Kings won their second Stanley Cup in three … [Read more...]

Casino gaming is a mature industry, long past its youth. The last members of its pioneering generation are disappearing all too quickly. In the last few weeks, six people who were part of the foundation of casino gaming died. Four were well-known Las Vegas gaming figures. The fifth was a pioneer in Indian gaming. The sixth, Fred Rogers, was neither well-known nor a pioneer. Fred Rogers died in … [Read more...]

The relationship between medical marijuana and the gaming industry just won’t go up in smoke. Consider these recent events: ■ Three of the 18 medical marijuana dispensary permits awarded in Clark County are tied to someone in gaming despite admonishments from state gaming regulators that industry representatives stay away from the business. ■ Las Vegas Sands Corp. Chairman Sheldon Adelson … [Read more...]

Howard Simpson, my best friend at Babson College, was one-year ahead of me, several years older (he did a tour in Vietnam before starting college), and from a different social background. He approached me after he had been elected student government president, and I had just been passed over as editor of the school newspaper for someone with far fewer qualifications. He said “I want to re-invent … [Read more...]

In the good ol’ days, casinos rewarded players mostly with comps, but sometimes with hard cash. We loved cash rewards, which we could put in our pocket and walk out of the casino with. No matter how much we had lost while gambling, the cash made us feel, at least a little bit, like a “winner.” Then, about the turn of the Millennium, casino cash benefits began to be replaced by “free play.” No … [Read more...]

TUNICA RESORTS, Miss. (AP) – As Tunica grapples with the Harrah’s closure, the state of Mississippi hasn’t acted to support the industry. But there are proposals under discussion that might bolster the remaining casinos and the tax revenue they produce. Here’s a brief look at some: -Increase tourism promotion. Mississippi plans to spend $4.88 million on tourism advertising and promotion in the … [Read more...]

California is known for having high-priced beachfront real estate. But even $4.9 billion might not be enough of a payment to let a Canadian gaming company settle into the neighborhood. Montreal-based Amaya Gaming Group Inc.’s agreement last week to acquire the parent company of online gaming giant PokerStars — the largest Internet gaming purchase — is all about California. Some Golden State … [Read more...]

The Massachusetts Gaming Commission has found MGM suitable to operate a casino in Springfield. The chairman of the commission, Stephen Crosby declared the MGM proposal to be a “genuinely ambitious and unusual effort.” It has only taken three years for a casino proposal to find favor in Crosby’s eyes. He has been a hard person to please. One license for a racino has been granted and it should open … [Read more...]

It’s a good thing John Vandemore spent several years as the chief financial officer for Imagineering, the theme park development arm for the Walt Disney Co. His tenure as CFO of International Game Technology has been one roller coaster ride after another. Things appeared to be settling down for the slot machine giant after a tumultuous two months in March and April. Even one of the … [Read more...]

Lawmakers spent all of 15 seconds discussing technology at the final three-hour session of the Committee to Conduct an Interim Study Concerning the Impact of Technology Upon Gaming. The panel’s focus over four meetings seemed to be a renewed effort to kill off tavern operator Dotty’s. That idea failed — again. The Association of Gaming Equipment Manufacturers (AGEM), however, thought the … [Read more...]

PokerStars’ decision, this week, to sell itself to Amaya Gaming, a nondescript Canadian company, for $4.9 billion, shows that the firm accepted the reality that it was widely viewed by U.S. regulators as damaged goods, and that it faced an extreme uphill battle to re-enter the US market. PokerStars’ hopes of entering California, the latest U.S. state to consider online poker, collapsed last … [Read more...]

BALTIMORE — If General Manager Chad Barnhill needs a case study to follow when the $442 million Horseshoe Casino Baltimore opens this summer, he can look a few states to the west. In the past two years, Caesars Entertainment Corp., in partnership with Detroit-based Rock Gaming, opened the Horseshoe Casino Cleveland and the Horseshoe Casino Cincinnati. The companies are bringing that same … [Read more...]

The high-end gamblers who frequent Macau’s ultraritzy private gaming rooms are more interested in whether Cristiano Ronaldo can lead Portugal into the World Cup finals than knowing the next card to come out of the dealing shoe. Maybe it has something to do with Macau’s 400 years as a Portuguese colony. Whatever the case, gaming analysts believe soccer will outweigh baccarat in Macau from … [Read more...]

Michigan vs Bay Mills Indian Community is a lawsuit by the state of Michigan to close an off-reservation Indian casino. On May 27, 2014, the U.S. Supreme Court ruled in favor of the Tribe. This is a win for the Indian Community, but does not mean that States are powerless. If off-reservation casinos are to continue in the long term, it will be only with consent from their States. Michigan … [Read more...]

Dear Gaming Colleagues, Voters across the political spectrum view casino gaming more favorably than ever before, and the vast majority recognizes that casinos create jobs, strengthen communities and support local businesses, according to the results of a national survey that the AGA released today. The survey release is the first step in the AGA’s multifaceted “Get to Know Gaming” … [Read more...]

For the Las Vegas Convention and Visitors Authority, it’s all about the research. It’s something that President and CEO Rossi Ralenkotter has driven into the culture of the organization that markets and promotes Southern Nevada to the world. Should Las Vegas run television spots, newspaper advertisements or maintain a bold online presence? Do the research. Should Las Vegas focus on its … [Read more...]

It is an old cliché that change is the only constant and that is definitely true in business. Fads come and go; customers’ ages, interests, preferences and habits are always in flux and businesses must adapt. In my mind, no place on earth demonstrates the changing nature of business more than Las Vegas and the famous Las Vegas Strip. When gambling was first legalized in Nevada and before Benjamin … [Read more...]

The nearly empty poker room tells the story. Penn National Gaming’s Hollywood Casino at Charles Town Races is feeling the brunt of neighboring Maryland’s gaming expansion, even though the state’s two newest casinos have yet to open. In summer 2013, the 2-year-old Maryland Live!, attached to a 250-store outlet mall in suburban Anne Arundel County, added a 52-table poker room. On any … [Read more...]

Casino management and marketers know the value of offering free entertainment, either as an attraction or a perk. Free entertainment can be exterior - augmenting a venue's theme for potential customers, or interior - sustaining customer interest and increasing onsite spending. One award-winning exterior attraction, providing a large number of sidewalk strollers, is the large lake in front of the … [Read more...]

There was never going to be a strike by downtown Las Vegas hotel workers. Despite the headlines and saber rattling, the leadership of Culinary Local 226 and Bartenders Local 165 wasn’t going to force union members to walk-off their jobs at properties that hadn’t finalized new contracts by 5 a.m. Sunday. In fact, negotiations to settle contract language at the last remaining hotel-casino … [Read more...]

Sports Betting in the U.S. Part 2: Public Policy Issues Note: Part 1, Legality, was published previously. The legislative history of the Professional Amateur Sports Protection Act of 1992 (PASPA) shows the law’s three basic goals: (1) to stop the spread of state-sponsored sports gambling, (2) to maintain sports’ integrity, and (3) to reduce the promotion of sports gambling among America’s … [Read more...]

Legalizing online gaming is one of the major issues of the gaming industry. Over the last few years there have been wide swings in the fortunes of online gambling in the U. S. When the feds jumped on the online operators taking bets from American gamblers in April, 2011, it appeared to be dead forever. But pressure from some major gaming corporations, poker players and states in need of additional … [Read more...]

One question about the big Carl Icahn golf insider-trading investigation is, who leaked it to the press, and why? My initial assumption was that the government leaked it, to try to shake loose some information after coming to a series of dead ends in the investigation. Maybe if it was in the papers, someone in the vast network of golfing insider traders1 would read about it and contact the FBI to … [Read more...]

On May 19th, New Jersey state senator Ray Lesniak announced that he was preparing a bill to allow sports betting at the state’s racetracks and casinos, in spite of the fact that it is not technically legal and could not be regulated. This is another logical step in the big sports betting battle which started back in 2012 and will determin the legal status of sports betting in New Jersey and … [Read more...]

Come October, Macau’s casinos won’t smell the same. The special administrative region government last month told its resort operators that smoking will be banned on mass-market gaming floors starting Oct. 6. Here’s the surprise: Macau’s six casino operators — including MGM Resorts International, Wynn Resorts Ltd. and Las Vegas Sands Corp. — asked for the prohibition. The ban doesn’t … [Read more...]

More than 40 AGA member professionals from government affairs, communications, public affairs and compliance joined us in Washington yesterday for an effective and productive Government Affairs Fly-In event. This effort aligns with the AGA’s Strategic Plan, particularly the priority to connect and inform a broader spectrum of gaming professionals. Our program agenda included: Deeper … [Read more...]

MGM Resorts International supports the legalization of online wagering in the U.S. The casino giant holds an interactive gaming license in Nevada. But the company’s Internet presence is devoted to a free-to-play casino site that allows customers of its M Life loyalty program to earn rewards, which can be redeemed at MGM properties in Las Vegas and Mississippi. MGM Resorts is taking a … [Read more...]

Over the past several weeks, most regional gaming companies have reported their first quarter results. The following quote could have been pulled from any number of releases: “Our first quarter 2014 performance was impacted by unusually extreme weather conditions across the country, increased competition and soft consumer trends.” This is not the first time this particular company has … [Read more...]

The new American Gaming Association has promised to be a relentless champion for the gaming industry, our 800,000+ employees and the communities from coast to coast to which we contribute. Today, we are excited to announce three new initiatives — built from the core underpinnings of our strategic plan — that will assist you and strengthen the gaming industry for years to come. Introducing "Get … [Read more...]