I am shocked–shocked–to learn that Congress has chosen to bar casinos from getting any of the nearly trillion dollars in stimulus money that’s floating around. From CNN: Congress has moved to prevent money from the proposed $825 billion stimulus package from being used for zoos, aquariums, golf courses, swimming pools and casinos, an effort to […]
No casinos need apply Read More »
news about gamblingMore good news for the state budget: fewer people are coming to Las Vegas, and they’re gambling less. From Bloomberg: Las Vegas Strip casino gambling revenue tumbled 16 percent in November, its 11th straight monthly decline, because the global recession and a reduction in the number of flights to the city deterred visits. Gambling proceeds
NV, Strip revenues down Read More »
news about gamblingAccording to the 2007 edition, page 2-19, in 2007 the 23 casinos in the Las Vegas Strip area that made more than $72,000,000 had total casino revenues of about $5.9 billion, and wrote off about $112.5 million to “bad debt expense.” So 1.9% of total casino income is lost to bad debts.
Bad debts in perspective Read More »
news about gamblingBecause we can’t wait for the future, everyone wants to know what’s going to happen. Spectrum Gaming has a 21-point list of what to expect, but I’ll give you my own views, focusing mostly on Las Vegas. This is all with the caveat that, as I often say, “my work is not predictive.” That’s just
Room rates, 2009, and the future Read More »
news about gamblingThere’s been quite the buzz for Encore over the Internet. This quote from Oskar Garcia’s AP piece explains, I think, why Wynn gets it more than anyone except Jack Binion and a few others: Wynn expected thousands to jam the entrances to the casinos on Monday night, as some of his best customers ceremoniously pull
Reading David McKee’s post on the TI sale to Phil Ruffin, something clicked that made me realize the transaction made perfect sense. For a while now, MGM Mirage has been positioning itself as a casino builder and hospitality brand manager. The international moves are ample evidence of that, as are the City Center partnership with
This doesn’t look good. From http://www.reuters.com/article/marketsNews/idUSN1032927320081210: Las Vegas Strip casinos won $475 million from gamblers in October, a drop of 26 percent from a year earlier, the state's Gaming Control Board said on Wednesday. Statewide, Nevada casinos' take from gamblers fell 22 percent to $905 million for the month as the U.S. economic recession continued
October numbers down Read More »
news about gamblingI had a pretty good marathon run on Sunday, and now that I’ve had a little time to think about it, here are some thoughts on running down the Strip. The headline is an allusion to the venerable “Strip Walk” feature over at Two Way Hard Three. Even though we ran only about 4 of
After what seems like months, I see that I’ve got another Business Press article available online: Once, casinos threw huge parties to remind the community that they were a year older. Large cakes in the shape of the hotel were common, with showgirls gamely framing the desert in well-circulated publicity photographs. Casinos bought advertisements that
Today’s Sun has an interesting piece about how different corporate cultures work on the Strip: As it turns out, the industry’s giants, MGM Mirage and Harrah’s Entertainment, have evolved into different animals at the top of their respective food chains. Customers will be familiar with some of these differences. While most MGM Mirage resorts are
Diff’rent strokes for casino folks Read More »
news about gamblingI’ve been watching reruns of Classic Trek lately (that’s Star Trek: The Original Series for purists, or The One With Kirk and Spock for those with a non-geek awareness of the show), and it gave me an idea: what if the new wave of Las Vegas casinos and condos is Star Trek: The Next Generation
To boldly go where no analogy has gone before Read More »
news about gamblingIt’s hard to believe, but the Bellagio is a decade old. Ten years ago today, Steve Wynn taught the fountains to play…metaphorically, I guess. That’s right, on October 15, 1998, the Bellagio opened its doors. Here’s a reminder from the October 15, 1998 LV Sun: And so it begins: the latest, the greatest — and
Happy birthday Bellagio Read More »
news about gamblingAfter surviving in Atlantic City, “electronic poker” is finally in Vegas. From the LVRJ: A Las Vegas poker dealer, who for obvious reasons did not want to give his name, had conflicting reactions while trying out the new electronic poker tables at the Excalibur. As a dealer, he hated the 10-player tables which are fully
Robo-poker at the Excal Read More »
news about gamblingThis probably isn’t new, but it’s the first time I’ve seen it, and I thought it was interesting. Apparently, there are two hotels at 3655 LV Blvd South. Sure, Paris Las Vegas is there, but according to Orbitz so is this place, which gets its own entry: Gay Paris Las Vegas 3655 Las Vegas Boulevard
I caught this wide-eyed Vegas puff piece on an Australian news website, and I had to laugh. I’ll spare you the article, but here are the tips. I’ll let my readers deconstruct them at will. From NEWS.com.au: # Stay on The Strip. All the action is there and everywhere else is a bust. Try to
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life in vegas, news about gamblingThere’s a good piece on the far, far south M Resort in the LV Sun. Here’s some of the most interesting bit, but you should read the whole piece: The M Resort, at the southwest corner of St. Rose Parkway and Las Vegas Boulevard, more than 10 miles south of Mandalay Bay, will be the
I’ve managed to squeeze in some time to update the carpet gallery. I’ve got new shots of the Excalibur, Luxor, Monte Carlo, Palazzo, and tons more in the Strip gallery. I’ve also streamlined the downtown gallery and placed all non-Strip, non-downtown carpets in the Clark County gallery. Plus I’ve added a Hall of Fame with
Someone had to do it, so why not me? I’ve eaten at each of them. Here goes, in bottom-to-top order: 4. Burger Bar, Mandalay Place If you’re in that part of town and in need of a gourmet burger, you can’t do much better. There’s nothing at all wrong with the place–in fact I recommend
Strip burger joints ranked Read More »
life in vegasSteve Wynn doesn’t think much of the blogosphere. And I agree with him on this point. In many cases, would-be pundits’ reach exceeds their comprehension. From the LVRJ: Wynn, who controls 24 million shares of the company’s 111.8 million outstanding shares, is bullish on the future, not only for Wynn Resorts but the gaming industry
Wynn hates bloggers Read More »
news about gamblingMy latest piece in the LVBP is small consolation for folks who’ve got a significant chunk of their net worth tied up in gaming stocks, but hey, there’s a reason that they call it “gambling.” I’ll spoil you with the last two paragraphs, from the LVBP: Today, with fears of an economic downturn souring even