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Compiled by LVA Research
• January 6, 2009 LVA Forum Voted Best:
Readers of VegasTripping.com have voted LVA's online forum the best of 2008. Ninety-thousand-plus members can't be wrong.
• January 6, 2009 Trump Hits Bottom:
Moody's has issued a "D" rating -- the lowest possible one -- on Trump Entertainment Resorts' bonds. According to the agency, "there is no assurance that any agreement with respect to any restructuring [of debt] will be reached." A sale of Trump Marina to a former Trump executive is still hanging fire, too. However, Trump stock bounced yesterday, closing up at 38 cents a share.
• January 6, 2009 Margaritaville Budget Reduced:
Mississippi's Clarion-Ledger is reporting that the budget for Harrah's Margaritaville project in Biloxi (planned successor to Grand Casino Biloxi) has been trimmed to $500 million. As of last May, the project was budgeted at $704 million.
• January 6, 2009 The Harmon Still on Track:
On his Vegas Happens Here blog, Steve Friess reports on a conversation with MGM Mirage spokesman Alan Feldman, who says that, contrary to rumor, the Light Group is still running the show over at the The Harmon condo-hotel, part of CityCenter. As for alleged construction problems, Feldman says, "We've ... had to deal with structural issues. Some rebar had to be redone." While condo sales at CityCenter have petered out, Feldman notes "this is real estate that's not going anywhere."
• January 6, 2009 Bad Casino Debt Quantified:
With dishonored casino marks very much in the news last year, UNLV's David G. Schwartz checked out the Nevada Gaming Abstract and found that, in 2007, bad debts added up to $113 million, or -2% of casino income. Some of the bad markers were charged against rooms, even F&B service. Concludes Schwartz, "no matter how bad things are going for you at your job, I’m pretty sure you didn’t make $5 million in bad loans during the year, as the average Strip credit manager apparently did."
• January 6, 2009 Mob Talk at UNLV:
If you've got a free afternoon on Jan. 29, check out a free presentation of UNLV's Center for Gaming Research. Leslie Niño Fidance of the Boyd School of Law will be giving a talk entitled "The Mob Never Ran Vegas." The lecture will be given in the special collections reading room of Lied Library on the UNLV campus.
• January 6, 2009 Barcelona Casino Changes Hands:
North Las Vegas' Barcelona Hotel Casino has been snapped up by Siegel Group Nevada, the developers currently upgrading downtown's Gold Spike. In addition to room for expansion, the Barcelona offers a 260-slot casino, which will be run temporarily by slot-route operator United Coin Machine. After the sale closes, the Barcelona will become Siegel Slots & Suites.
• January 6, 2009 New Prez at Trop:
Tropicana Entertainment has succeeded in luring Ron Thacker away from Fontainebleau Resorts, where he was VP of casino operations, installing him as the new president of the Las Vegas Tropicana. Thacker's also been with the Cosmopolitan, as well as with three properties now in the Harrah's chain: Casino Windsor and the Las Vegas and Kansas City Flamingo Hiltons.
• January 6, 2009 Greektown Signs LV Firm:
Detroit's Greektown Casino, currently in Chapter 11, has hired Las Vegas-based Fine Point Group to improve efficiency and profitability. It is essentially a transfer of power, as Fine Point will fill the CEO, GM and VP of marketing chairs at Greektown. Company founder Randall Fine is a former Total Rewards and slots veep for Harrah's Entertainment, as well as marketing VP for Carl Icahn's casino arm, ACEP, and Fine Point is staffed with executive talent plucked from Harrah's, MGM Mirage, Station Casinos and Isle of Capri.
• January 6, 2009 Plaza, Vegas Club Issue Challenge:
A free standard room at the Plaza Hotel & Casino or adjacent Vegas Club is your reward if you can beat the prices found on the two hotels' own Web sites. Guests who are able to find lower Plaza/Vegas Club room rates at participating sites Hotwire.com, ExpediaSAGroup, Las Vegas Tourist Bureau, I4Vegas, OrbitzSAGroup, Travelocity, SynXis Priceline, TripRes, Synxis.com, Vegas.com, Hotels.com, Mark Travel and Allegiant Air will get a comped room night at the Vegas Club or Plaza. Ground rules are as follows: "Upon finding the lower rate, guests must speak with a call center supervisor or a manager and verify the lower rate. Guests will receive a free standard room only for the night they found lower rates. Dates are subject to availability and black out dates can apply." The number for bookings is 800/634-6575.
• January 6, 2009 NV Race Books Face Jan. 7 Cutoff:
"TrackNet Media Group is poised to cut off its signals to more than 80 Nevada casinos Jan. 7 unless a new agreement is met for what the content company feels are more equitable fees," reports Bloodhorse.com. That would mean no feeds from Gulfstream Park and Santa Anita, among others. TrackNet's CEO says it has been in talks with the Nevada Pari-Mutuel Association since last February but didn't receive even a "woefully inadequate" counteroffer until late December. TrackNet says Nevada enjoys a 'volume discount' and only represents 4% of the company's handle.
• January 5, 2009 U.K. Slots Up Ante:
Britain's Labour government has approved rules that would double the maximum slot -- or "fruit machine" -- bet from approximately 70 cents to the equivalent of $1.40, as well as raising jackpot limits to a whopping $100. Already this move is stimulating howls of outrage both from moralists and clinicians. Slot revenues are expected to rise 20% under the new rules.
• January 5, 2009 Cosmo Wants More Time:
Among the items soon to be considered by the Clark County Planning Commission are time-extension requests by the Cosmopolitan. These are believed to be indications that the financially troubled condo-casino project will not be finished until 2010. Which may be good news: No other Strip projects are scheduled to open that year.
• January 5, 2009 Drastic Casino Cutback in MS:
While some casinos have drawn down operations during the current recession, few have gone as far as the Golden Moon, near Philadelphia, Miss. The tribally owned casino is giving the pink-slip to 570 non-tribal employees and will only operate three days a week. The Golden Moon is owned and operated by the Mississippi Band of Choctaw Indians.
• January 5, 2009 Another Harrah's/Improv Deal:
Although Don McMillan has a master's degree from Stanford, plus years of toil in Silicon Valley to his credit, he ultimately found fewer laughs in microchips than at the microphone. He'll be headlining at The Improv, at Harrah's Las Vegas, today through Saturday, two shows nightly (8:30 and 10:30 p.m.). As part of a $105/night, two-night-stay package, Harrah's is comping two Improv tickets plus a dinner buffet for two -- almost $135 worth of added value.
• January 5, 2009 CityCenter Hiring Starts Today:
MGM Mirage is going live today with its job application site. The company expects to fill 12,000 positions, spread across Aria Resort & Casino, Vdara and the Crystals mall. Even though Mandarin Oriental, Las Vegas and The Harmon Hotel, Spa & Residences are being run by other companies, they are also taking applications through the CityCenter Web site.
• January 5, 2009 New JetBlue Discount Fares:
Today through Jan. 14, JetBlue is running a fare special that includes one-way fares to Las Vegas from Long Beach and Burbank at $39 each. Fares purchased can be used Jan. 12-April 1 (but not Feb. 11-16 or 19-24). Additional discounts can be found via the Travelzoo ad on LVA's home page.
• January 5, 2009 Margaritaville is #1
According to an Associated Press profile of singer/songwriter/novelist/entrepreneur Jimmy Buffett, the Margaritaville restaurant at the Flamingo is the highest-grossing restaurant in the nation. According to Flamingo President Don Marrandino, its annual gross is $43 million and the eatery has turned in five strong years. Harrah's Entertainment's Margaritaville-branded casino in Biloxi is on hold and, according to the AP, its budget has been downsized to $700 million (from a multi-billion-dollar megaresort). Buffett has also sublicensed the Margaritaville theme to the prospect owner of Trump Marina, in Atlantic City, which will also fly the "Parrothead" flag.
• January 5, 2009 Vegas Heats Up
But not in a good way this time. According to the National Weather Service, 2008 -- as cool as it was economically -- was Las Vegas' fourth-warmest year on record, with highs that were on average on degree higher and lowers that were three degrees. The more concrete and asphalt Las Vegas lays down, the bigger its "heat island" effect, which accounts for the higher temperatures. So if you're down on the Strip in midsummer and feel like you're in a convection oven, you're not imagining things.
• January 5, 2009 HP Author to BJ HoF
Blackjack expert and author Richard Munchkin was voted into the Blackjack Hall of Fame at this year's Blackjack Ball. Munchkin is the author of our book Gambling Wizards. He punctuated the appointment by taking second in the Ball's skills competition, which was won by a player who goes by the name "Honcho." Not competing this year was James Grosjean, who is ineligible to compete after winning the contest three times. The champion's cup is now called the "Grosjean Trophy."
• January 5, 2009 Slot Tourneys Profiled
Sunday's Las Vegas Review-Journal has a on-the-spot report about slot tournament players, as seen in action at Aliante Station. The #1 gaffe is revealed (Don't pull the lever) as are some of the superstitions to which participants adhere, reaffirming the maxim, "Nobody understands the slot player -- including the slot player."
• January 5, 2009 Package Deal at THEhotel
Despite being one of the most popular spots on the Strip for New Year's Eve weekend, even THEhotel at Mandalay Bay is now getting into the discount game. In its "Winter Wonders" offer, not only can you get a third night free if you book two, a half-price breakfast or lunch, a $300 spending voucher and a "fly back certificate." This is but the latest in an aggressive series of marketing offers made at MGM Mirage properties. By contrast, an LVA informs us that Venetian/Palazzo is only budging very marginally off its usual rates.
• January 4, 2009 Silverton Extends Promotion
Silverton has extended its great 2-for-1 dining offer throughout January. Get a twofer on entrees in any restaurant from 4 to 10 pm daily. No coupon necessary, but must be a players club member.
• January 4, 2009 Tennis Fixing?
The stately sport of tennis has long maintained the practice of allowing players to "tank" matches. That may be working to the benefit of mobsters who, ex-mafioso Michael Franzese contends, are still heavily involved in the sport, even threatening players with physical force. "If I were in this business now, tennis would be my major target because one player can impact the game. That's all you need," Franzese tells The Australian, adding that he warns players to steer clear of gamblers: "Gambling is a very serious business. If you put yourself in a gambling situation, you're most likely going to attract the wrong people because those same people are watching you."
• January 4, 2009 Fireworks Fizzled
Las Vegas' experiment with launching New Year's Eve fireworks from ground level drew the most criticism since the city's decision to forego a show in 1999. The change from prior rooftop launches was implemented primarily to save about $200,000 in costs for inspections mandated by recently adopted safety rules (likely implemented as a result of last year's Monte Carlo rooftop fire). Most complaints about the $600,000 show were related to restricted visibility. Show organizers say they will evaluate the feedback for next year.
• January 3, 2009 Montana Buyers Obtain Sparks Casino:
Baldini's Sports Casino, in Sparks, Nev., has passed from the Donald Baldwin family to a group of buyers from Montana. Rather than obtain a gaming license, it appears that the new owners will simply farm out casino operations to United Coin Machine, a slot-route specialist.
• January 3, 2009 Trump Buys Time:
Lenders have given Donald Trump's casino company three additional weeks to restructure its $1.25 billion debt. Last month, Trump missed an interest payment and, if he can’t demonstrate the art of the deal by Jan. 21, his debtors may demand accelerated repayment. Bond analyst Barbara Cappaert argues that debtholders should force Trump out as a condition of any further forebearance: "So is this a poker game for Trump? With Donald Trump controlling 28% of the Class A stock and 100% of the Class B stock (and controlling several board positions), we would suggest bondholders make sure that Mr. Trump no longer has that kind of control," she wrote.
• January 3, 2009 Macao Reverses November Gains:
Casino revenues in Macao were down 6% last month, following an apparent recovery in November. Las Vegas Sands, which has pulled ahead of Stanley Ho’s SJM, has the largest market share. Wynn Macao, in third place, has been increasing its share, mostly at the expense of Galaxy Entertainment. Melco Crown remains in fifth place, with MGM Grand Macau bringing up the rear.
• January 2, 2009 Coast Connections Today
The excellent Coast Connections magazine is a rider in today's LV Review-Journal. This magazine is loaded with coupons, including gambling matchplay, and is so strong we didn't expect it to be published after its initial run last month. Pick it up.
• January 2, 2009 Bush Pardons Ex-Bally President:
Former Bally Gaming President Alan Maiss, one of two-dozen figures convicted in a Louisiana slot machine scam in 1995, was pardoned by President George W. Bush. Maiss, who donated $1,500 to Bush's 2004 re-election bid, was among the many casino- and Mob-related individuals swept up in "Operation Hard Crust" (so named by FBI agents because the mafiosi frequented a deli where the bread was invariably stale). Bally sold slot machines to a pair of Mob-front companies in Louisiana and Maiss failed to report his knowledge of the companies' Mob ties to federal authorities. He had sought to withdraw his subsequent guilty plea on the grounds that it was impeding his ability to get a new job.
• January 2, 2009 Internet Gambling = Terrorism, Report Says:
"Islamist terrorist networks, particularly al-Qaeda, are using gambling websites to launder money and train potential terrorists in Britain," begins a story in The Economic Times. It quoted a counterterrorism expert from Jane's Intelligence Group as saying, "Al-Qaeda want to create a university of jihad online, both in a spiritual and financial sense," and that online gambling sites frequented by young people were one avenue of recruitment. This is not good news for players, as it will give (pardon the term) fresh ammunition to supporters of a U.S. ban on Internet gambling.
• January 2, 2009 Pay Cut at Venetian Macao:
Las Vegas Sands has struck a compromise with Macanese labor unions regarding salary reductions at Venetian Macao. While work weeks will still be curtailed from 48 hours to 40, salaries will be recomputed so that the loss of pay is 13%, not 17% as previously proposed. Sands also agreed not to eliminate any of the affected positions. "In addition, when the economy starts to show signs of upturn, the company shall immediately restore the workers' original salary level and working hours, or assist them to be transferred to better positions if the company opens new businesses in Macau or other regions," reports the Macau Daily Times.
• January 2, 2009 Harmon on Hold?
Buried deep within today's Norm! is a report of more trouble at MGM Mirage's CityCenter. Specifically, The Harmon condo-hotel may be put on hold. "The bigger concern, I'm told, is the central iconic tower, which was designed to lean about 22 degrees but is now almost double that because of a cabling issue," writes columnist Norm Clarke.
• January 2, 2009 Gambling, Sex Don't Mix:
Snick's Place could lose its license. Nevada gambling regulators say the gay bar -- which has 15 slot machines -- has been the scene of public sex acts. Seven complaints are on file against Snick's and, if all are upheld, the venerable homosexual hangout could be fined $700K. "The conduct here is so over the top and out of control that it warrants swift and very definitive action," said a Nevada Gaming Control Board member, explaining the severity of its action.
• January 2, 2009 No Beers for Gaming Board:
Despite rumors that Gov. Jim Gibbons was going to tap former state Sen. Bob Beers to fill Mark Clayton's seat on the Nevada Gaming Control Board, he has turned to an industry figure instead. Gibbons will be drawing upon the expertise of Mark Liparelli, a former executive with Casino Data Systems, Shuffle Master and Bally Technologies. It will be a return of sorts for Liparelli, a former securities analyst for the Control Board.
• January 1, 2009 Las Vegas This Weekend The first weekend of the new year is a busy one with most venues back to full song after the holiday break. The Pearl at the Palms hosts two big shows with the Stone Temple Pilots onstage Friday night and Kid Rock in an encore performance on Saturday. Comedy fans have five headlining shows to choose from including David Spade’s first gig at the Venetian, which runs New Year’s Day through Sunday. This is also your last chance to catch Stomp Out Loud at Planet Hollywood, Mamma Mia at Mandalay Bay and Fuego Raw Talent at the Sahara. All three shows will close after their performances on Sunday.
- Music: Stone Temple Pilots (1/2) and Kid Rock (1/3) are in concert at Pearl at the Palms; Neil Diamond returns to the MGM Grand Garden Arena for one night only (1/2); Aaron Lewis performs solo at Green Valley Ranch’s Ovation Lounge (1/2) and Aliante Station’s Access Showroom (1/3); The Four Freshman play the South Point Showroom (1/2-1/4); B.B. King stops by the Star of the Desert Arena at Buffalo Bill’s (1/3); the Canyon Club at the Four Queens stays busy with Sashamon (1/2) and L.A. Guns (1/3); Smash Mouth plays one show at the Silverton Entertainment Pavilion (1/3); The Joint presents ZZ Top (1/3); and George Clinton takes his act to the House of Blues (1/4)
- Comedy: David Spade makes jokes at The Venetian (1/1-1/3); Gabriel Iglesias takes the mic at the Monte Carlo (1/1-1/2); The Orleans Showroom presents Mike Epps (1/2-1/3); and the House of Blues welcomes Pauly Shore and Jamie Kennedy (1/2) and Kathleen Madigan (1/3)
- Sports Events: The Las Vegas Wranglers host a two-game series against the Utah Grizzlies at the Orleans Arena (1/2-1/3); the UNLV Runnin’ Rebels basketball team takes on New Mexico at the Thomas and Mack Center (1/3)
- Other: Body English is giving away over $6,500 in Zinc footwear at this week’s Indulge party (1/2); the Palms hosts The Big Football Fantasy Sleepover at Moon and the Playboy Club (1/4); the Flamingo hosts the World Series of Beer Pong (1/1-1/5) – and don’t miss the after party at Rockhouse (1/2); The Bank celebrates industry New Year’s with special guest DJ Bad Boy Bill (1/4)
• January 1, 2009 Happy New Year
Here's wishing everyone a prosperous 2009. To start the new year, the new Bob Dancer video poker book, Video Poker for the Intelligent Beginner, is off the press and shipping. And we've got a great poll going right now to determine Las Vegas' best buffet (cast your vote). We have lots of new things planned for LasVegasAdvisor.com this year, so keep coming back to help us make this the greatest site anywhere on the Web for gamblers and Vegas enthusiasts.
