here we go again.

These stories will never go away, will they? From the cornfields of Nebraska, reported all the way across the Pond:

Las Vegas gambler sues Caesars Palace claiming casino plied him with drugs

A Las Vegas gambler who lost $112 million (£67 million) in a year, is suing the owner of Caesars Palace, claiming casino staff "milked" him by plying him with alcohol and prescription drugs. Read more.

Has anyone seen the Albert Brooks movie Lost In America? I'm reminded of that.

The complainant's lawyer alleges Harrah's is to blame because "Mr. Watanabe was an obvious gambling addict."

Sorry, Mr. O'Donnell, as a dealer and floor supervisor, I don't have the ability to see the addiction on 'em.

Not to be callous, but at some point, personal responsibility needs to kick in.

leaving on a jet plane...wondering when you're coming back to vegas!

Not terribly shocking, really. From the Review-Journal:

McCarran passenger counts fall 1.3 percent in October
By HOWARD STUTZ

Passenger counts at McCarran International Airport fell 1.3 percent in October. More than 3.51 million passengers came through McCarran during the month, compared with more than 3.56 million passengers in the same month a year ago.

For the first 10 months of 2009, McCarran has seen passenger counts fall 9.4 percent over the period in 2008.

No real surprise that passenger counts are down this year. The real meat-and-potatoes comparison will be 2k10 numbers vs. 2k9 and even 2k8. That'll give the clearest indication if the economy is rebounding. We already know Strip development is going to remain halted. That's old news. Let's see if people are ready to occupy the rooms already waiting for them.

fourth-quarter las vegas: the good, the bad & the ugly.

Quite a bit going on in the Valley this week. Local media's buzzing with the upcoming opening of MGM Mirage's CityCenter, Some telling quotes from a roundtable discussion at the Global Gaming Expo, and oh yeah, Station Casinos continue to lose money hand over fist.

You can read all about each issue at LVRJ.com, but here are the brass tacks:
Least Surprising Story of the Week
MGM Mirage and Dubai World received its gaming license for Aria, the one-and-only casino at the $8.5 billion, 67-acre CityCenter. Shocking, right? The joint will be open for business next month. Read more.

Boyd's Balls—Crystal or Otherwise—Still Ain't That Great
"If you look out over the next 10 years, you could probably count on one hand the number of new buildings we'll see on the Strip. Frankly, my crystal ball isn't that clear, but there will not be the tremendous amount of new buildings on the Strip." —Keith Smith, CEO, Boyd Gaming
Translation: "Anybody wanna buy a half-built casino?" I'm not trying to be a smart ass, but it's clear Boyd doesn't plan on finishing Echelon. They'll sooner buy a Strip property than complete what was to be the company's crown jewel. You know what that means? Expect to look at dormant Echelon and Fontainebleau sites for years! Read more.

Why, yes, Virginia, casinos also can lose money!
At first glance, it would seem implausible that casinos would lose money. But it's a competitive business, just like restaurants and bars and such. Some profit. Some don't. Station Casinos—catering largely to a local market—had to file bankruptcy. And who might be there to bail them out? Boyd Gaming. Guess we now know Bill Boyd tore open that mattress full of Echelon money and has new ideas for it, no? Read more.

Which is good? Which is bad? Which is ugly? You decide.

we want floyd! we want floyd!

My first Fight Night in Vegas.

COTTO CONQUERED: Pacquiao in seventh heaven
12th-round TKO gives Filipino seven belts in seven classes
By STEVE CARP
LAS VEGAS REVIEW-JOURNAL
The chants began as soon as Manny Pacquiao was declared the new WBO welterweight champion Saturday night.

"We want Floyd! We want Floyd!" many in the sellout crowd of 16,200 at the MGM Grand Garden demanded. Read more.

Here's the money quote on Manny Pacquiao: "...the first boxer to win seven world titles in seven weight classes."

Wow! Bring on Money Mayweather!

citycenter: game changer or sinking ship?

I don't know of too many casinos that can make up a $4 billion shortfall overnight. From the Las Vegas Review Journal:

THE STRIP: CityCenter valued below cost
MGM Mirage: Half-stake in project worth $2.44 billion

By HOWARD STUTZ
CityCenter is worth about half of what it cost MGM Mirage and Dubai World to build the massive Strip development, according to third-party valuation specialists.

In a statement to investors Tuesday, in which MGM Mirage said it was writing down more than $1 billion related to CityCenter, the company estimated the value of its 50 percent ownership in CityCenter at approximately $2.44 billion. The project's total construction budget is $8.5 billion.

"This decision and related market conditions led to the conclusion that the carrying value of the residential inventory is not recoverable," MGM Mirage said in a statement.

MGM Mirage said CityCenter was required to have unnamed third parties review its residential inventory for impairment because of the company's decision to reduce the cost of project's 2,400 residential condominiums by 30 percent.

Also, MGM Mirage's largest shareholder, billionaire Kirk Kerkorian, hinted he might divest himself from the company. Read more.

MGM Mirage
CityCenter

a one-way ticket to vegas.

It's official. I'm moving to Las Vegas. After years of pondering, planning and thinking about it, it's now a reality.

I will be embarking on the cross-country journey on or around 9 Nov 09 and reporting for my first day of work in the desert on 16 Nov 09.

I'm excited. I'm nervous. I'm ready to get this show on the road.

Stick around for more dispatches from the desert.

stick around.

Stick around, kids. Things are about to get pretty interesting around here.

hard rock hiring...soon.

Is this the beginning of a Las Vegas comeback story? Too soon to tell. From the Las Vegas Review Journal:

Hard Rock to hire 800 workers by year's end
Posted by Arnold M. Knightly

The Hard Rock Hotel will hire 800 more workers by the end of the year to complete staffing for the property's $750 million expansion, the property announced late Tuesday night.

The niche property, which will open two new hotel towers and other amenities, has already hired 400 workers this year.

The positions to be filled include on call dealers, housekeeping staff, bellmen, front desk and room reservation agents and environmental services attendants.

The Hard Rock Hotel will announce dates for job fairs to be held at the property through the summer soon.

danny gans dead.

I am stunned by this...from the Las Vegas Review Journal:

Las Vegas entertainer Gans dies at home at age 52
Las Vegas entertainer Danny Gans died at his home this morning. He was 52.

The cause of death is unknown.

Henderson Police spokesman Officer Todd Rasmussen said this morning they received a call about 3:45 a.m. from a woman inside the home at 761 Ricota Court in Henderson. The woman said that a 52-year-old male was having breathing problems. When officers and paramedics arrived they found the man unresponsive. He was pronounced dead at the scene.

I remember my first trip to Las Vegas in 1999. Danny Gans was the headliner at the Rio and was largely considered one of the elite shows in Vegas (alongside the Cirque shows). He moved to the Mirage shortly thereafter and was one of the hottest shows on the Strip for years.

In many ways, Danny Gans is the last of the generation of performers; the true Las Vegas variety act. He preceded Celine Dion, who completely changed the Strip, ushering in folks like Elton John, Broadway musicals, etc.

As one friend of mine said to me, Danny Gans is completely lost on the new, younger generation of Vegas travelers. This 25-and-under set only cares about clubbing, bottle service, and being "young, drunk and fabulous."

It's too bad. I think Gans' premature death may also signal the closing of that era of Vegas acts.

citycenter in jeopardy?

Is the Las Vegas Review Journal guilty of hyperbole, or are they predicting the death of CityCenter? Decide for yourself:

CityCenter future in doubt after Dubai partner sues MGM Mirage
By HOWARD STUTZ

The survival of the $9.1 billion CityCenter development was called into question Monday when the investment arm of the Persian Gulf state of Dubai sued MGM Mirage over concerns about the project’s viability.

According to the lawsuit filed in Delaware Chancery Court, Dubai World, a 50-50 joint venture partner in CityCenter, is asking for unspecified damages and wants to be relieved of its obligations under the companies’ agreement that was struck in August 2007.

Dubai World, which is financing its portion of CityCenter through its Infinity World subsidiary, contends that recent statements by MGM Mirage constitute a breach of the joint-venture pact and has put the project at risk. A spokesman for MGM Mirage was unavailable for comment this morning. As of noon PDT, MGM Mirage had not issued a statement about the legal action.

The lawsuit seemingly took MGM Mirage by surprise. Last week, during the company’s fourth-quarter earnings conference call, MGM Mirage Chairman and CEO Jim Murren was asked about the relationship with Dubai World. “Our relationship with Dubai World is outstanding and has been since August of ’07 when we consummated the joint venture,” Murren said. “They have been steadfast partners.” Read more.

mgm mirage break-up...start the clock.

Looks like MGM Mirage's day just got worse. From the Las Vegas Review Journal:

Dubai partner sues MGM Mirage over CityCenter

DUBAI, United Arab Emirates — The Dubai state-run developer involved in the $8.6 billion CityCenter complex on the Las Vegas Strip says it is suing partner MGM Mirage amid concerns about the project's viability.

Dubai World says subsidiary Infinity World filed the lawsuit in Delaware Chancery Court "to protect its rights and the best interests of the CityCenter project."

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MGM Mirage is struggling under more than $13 billion in debt as it pushes ahead on CityCenter, its largest casino yet.

Infinity says recent statements by MGM Mirage about its future viability constitute a breach of contract and put the CityCenter project at risk.

It says it's asking the court to relieve it of its obligations under the joint venture agreement.

The irony of a casino plowing forward with a semi-risky venture while accruing a mountain of debt is not lost on me. When they started this project, it looked like a license to print money. The economy was soaring. Vegas tourism was at an all-time high and the affluent, young crowd was streaming onto the Strip in droves.

All the major Strip operations could afford to charge high prices for rooms, dinner, entertainment, etc. They were trying to push all the penny slot players and nickel blackjack players downtown with all the other riff-raff.

But now, MGM stock is barely worth the paper it's printed on.

I'm not celebrating MGM's recent misfortune. It disappoints me to no end. But it's worth noting all the corporate monsters of the Strip have only themselves to blame. Goliath smote Goliath.

Start the clock on the breakup of MGM Mirage.

nhl in vegas, eh?

This is a big deal to a hockey fan like me. From ESPN.com

NHL awards show moves to Las Vegas

NEW YORK -- The NHL is moving its annual awards show from Toronto to Las Vegas.

Part of a three-year deal with the Las Vegas Convention and Visitors Authority announced Friday, this year's show will be held June 18 at the Palms Hotel.

"Las Vegas specializes in shining the spotlight on outstanding performers," NHL commissioner Gary Bettman said. "It's innate energy offers an exciting setting for our celebration of excellence."

the strip for sale?

Could the current recession spur a return to individual-owned Strip resorts? One former casino owner (and soon-to-be owner of Treasure Island) seems to think so.

From LasVegasNow.com:

One Casino Does Well, Despite Recession

(Phil Ruffin) believes his pending purchase of the Treasure Island is a great long-term investment, citing its attractive selling price of $775 million, its premier location on the Strip, its recent renovation, and its lack of debt.

In fact, Ruffin says debt is what's doing in the Strip's corporate conglomerates right now, "The problem is all that debt that is just piled on. They can't pay the debt service so all the banks are going to have to restructure that debt."

Ruffin says that will likely mean a dilution of ownership and a return, in part, to days past in Las Vegas, where there were more individual casino owners and a more personal touch, "You got a lot more personal attention. The owner was right there on the property and could make instant decisions. That's why I'll have my office located inside the TI." Read more.

Am I the only one who noted the irony of a casino being in debt up to its own eyeballs? Seriously! These places are licenses to print money! I digress.

I'll be interested to see if Harrah's and MGM-Mirage sell off any properties during the economic downturn. It's no secret Las Vegas is hurting right now. You don't even have to listen to Phil Ruffin talk of it. I know people on the front lines in Las Vegas and they'll tell you it's slow right now. Everyone's in survival mode.

I'd like to think it'll get better before the end of the year, but that's looking less and less likely.

I wonder if you'll see more folks like Phil Ruffin and Steve Wynn out there this year; individuals who want to own a piece of the Strip. Now may be the time for some prime real estate in the desert.

frankie the snitch?

Frank "Lefty" "The Snitch" Rosenthal? From the Las Vegas Review Journal:

'Lefty' Rosenthal was an FBI snitch
by JANE ANN MORRISON

Back before he was mayor of Las Vegas, when he was the city's leading mob attorney, Oscar Goodman insisted he didn't represent snitches.

He represented Frank Rosenthal. Now that Rosenthal is dead, three former law enforcement sources with first-hand knowledge confirmed what was long suspected. Lefty Rosenthal was an FBI informant, whether his attorney knew it or not.

While Rosenthal was alive, no one would confirm it. Nobody wanted to be the one who got Lefty whacked. Read more.

leave the kids at home!

Oh for the love of Christ! From the Las Vegas Sun:

Parents arrested after 10-month-old abandoned at casino
By Mary Manning

Metro Police arrested the parents of a 10-month-old boy Friday after the baby was left in a stroller in front of the Imperial Palace hotel and casino for more than an hour.

Officers arrived at the hotel at about 5:35 p.m. Friday after two concerned tourists reported to security guards that the baby was alone in his stroller, police said.

Through video surveillance cameras, officers identified the parents who had abandoned the child, police said.

The parents were inside the casino gambling. When questioned, they told police they had left the baby after an argument. Both parents left the baby in his stroller on the sidewalk in front of the casino, police said. Read more.

And of course, it happened at the finest dump on the Strip, the ol' Imperial Palace. Lovely.

How many times do we have to cover this? Unless your children are legally able to get past a bouncer at ghostbar--or you're planning on selling them on the black market--DO NOT BRING THEM TO VEGAS!

Seriously, Las Vegas is NO place for children. Leave them at home!

You'd think this sort of thing is self evident. Apparently not.

"...eight straight months of declining revenue on the las vegas strip..."

I shouldn't be so harsh on Boyd Gaming, though. It's not like they're alone in this economic mess. The Big Three in Vegas--Las Vegas Sands Corp., MGM Mirage and Wynn Resorts Ltd.--are getting clobbered in the markets.

From Bloomberg.com:

Las Vegas Sands, MGM, Wynn May Signal 'Ugly' 2009
By Beth Jinks

Oct. 27 (Bloomberg) -- Las Vegas Sands Corp., Wynn Resorts Ltd. and MGM Mirage, the three largest U.S. casino companies, may signal an "ugly" year ahead as gamblers curb casino trips and betting from Las Vegas to Macau.

Eight straight months of declining gambling revenue on the Las Vegas Strip and tightened visa limits by authorities in Macau, the only place in China where casinos are legal, eroded third-quarter profits, said Dennis Forst, an analyst at KeyBanc Capital Markets in El Segundo, California.

Shares of Wynn, controlled by billionaire Steve Wynn, have dropped 67 percent this year. Sands shares plunged 23 percent on Oct. 24, bringing its year-to-date decline to 94 percent and forcing it to relinquish its ranking as the biggest U.S. casino company by market value to Wynn.

No. 2 MGM Mirage, majority owned by Kirk Kerkorian, has fallen 87 percent. Penn has shed 79 percent, while Melco Crown Entertainment Ltd. has lost 72 percent. Read more.

I'm no economist, but Vegas will come back. It may take a year or two, but it'll come back. Gaming/travel/tourism are not recession-proof industries, you know. What I'm most curious of, though, is which hotel-casinos in Vegas will fold. The Big Three have deep enough pockets to survive. Harrah's is THE biggest casino company in the world, so they're probably safe. But it's going to be the little guys and outliers who lose. Are there any left in Vegas? Not many, but a few.

2009 promises to be nothing if not exhilarating.

will boyd's echelon ever open?

Things are not looking good for Boyd Gaming's mega-resort on The Strip, The Echelon. From Reuters:

Boyd Gaming sees Las Vegas project stalled thru 09

LOS ANGELES, Oct 28 (Reuters) - Casino operator Boyd Gaming Corp (BYD.N: Quote, Profile, Research, Stock Buzz) said on Tuesday it does not expect to resume construction next year on its stalled Las Vegas Strip project and declined to comment on its fourth-quarter earnings outlook.

Boyd said in August it expected to halt construction of the partially built $4.8 billion Echelon project for at least nine months.

Chief Executive Keith Smith, speaking on a conference call, said the company is now looking at alternatives, including opening the project in phases, modifying its scope or entering into other partnerships.

Chief Operating Officer Paul Chakmak, citing uncertainty in the current economic environment, said the company would not issue its typical quarterly earnings forecast. (Editing by Jeffrey Benkoe)

This is bad. Very bad. The Echelon was slated to open in 2010. When the credit markets went kaput, they halted construction for the rest of '08. Now all of '09 is getting wiped out? Opening in phases or modified scope?

So much for building a competitor to its neighbor across the street, The Wynn.

notorious vegas legend dies.

How on EARTH did I miss this? From the Los Angeles Times:

Frank 'Lefty' Rosenthal dies at 79; sports betting expert inspired movie 'Casino'

Frank "Lefty" Rosenthal, the onetime Chicago bookmaker who ran four Las Vegas casinos in the 1970s and whose turbulent life and near-death experience with a car bomb inspired the movie "Casino," has died. He was 79.

Rosenthal, who was barred from casinos because of alleged mob ties, died of a heart attack Monday at his home in Miami Beach, a Fire-Rescue spokeswoman told the Associated Press.
Read more.

In the annals of Las Vegas/casino movies, Casino is easily one of my favorites.

allegiant bucking the trend.

Perhaps all is not lost right now on the Vegas tourism industry. From the Las Vegas Review Journal:

Allegiant revenue jumps despite financial downturns
By Benjamin Spillman

Las Vegas-based Allegiant Travel Company managed to increase revenue more than 35 percent in the third quarter despite operating a leisure-based airline at a time when the hospitality and airline industries are suffering from dramatic financial downturns.

Allegiant reported today that it earned $116.9 million in the third quarter, up 35.4 percent from the same quarter in 2007. However, profits on the revenue fell 4.2 percentage points to 6.9 percent, in large part because fuel costs were higher.

During a conference call with analysts company officials were upbeat despite dire predictions for leisure travel. They said lower fuel prices will give the airline more flexibility in the future and discussed several possibilities for increasing revenue further, including the potential to charge passengers for carry-on luggage. Read more.

I've always liked their model of providing direct flights to destination cities for secondary markets. I've also flown them a couple times. The first time was not that great, but the second time was very good. I'd fly them again.

dear vegas...you want me on that dice table. you need me on that dice table.

While I'm keenly aware the Strip prefers its dealers to break in on the Strip, let me tell you firsthand the Midwest riverboats are not the minor leagues. I'm not arguing the action in Joliet is better than Bellagio, but the games, rules and procedures are taught the same across the board.

I've been a dealer for about two years total now (with a seven year sabbatical in between stints) and working the dice table on a riverboat is nothing to sneeze at. I've observed games at all levels and at several casinos and here are a few observations:

Riverboats Love Speed.
For better or worse (and I think it's worse), riverboat dice pits have an unhealthy obsession with speed. I know how it goes. More rolls = more money. But it's silly. Vegas dice tables move at a relaxed pace, but not too slow. The key difference is...

Midwest Dice Players Love Prop Bets.
Perhaps I'm not watching the right games at the right time in Vegas, but I have never seen the same sort of prop section on the Strip as I do at a Midwest riverboat. Sure, a Vegas game will have the obligatory hardway bets, a couple C/E bets, maybe even a Horn High 12. But come to the riverboat and you'll see one player simultaneously booking: $10 Horn High Yo, $9 hopping sevens and a $1 ace-deuce. THEN another player on the same game will have the easy eights hopping and a High-Low.

Every. Single. Roll.

Don't tell me Midwest games are soft. The players are prop action freaks...at their own peril.

Procedure Suffers Everywhere.
I know most dealers fancy themselves to be procedurally sound, but I think they all get bored. How many stickmen take their eyes off the dice? How many 21 dealers correct their own mistakes? This happens at EVERY casino.

Final observation...

I Can Deal Anywhere.
Let me tell you why: During my shift Saturday night I was dealing to every skill level of player, action from $40 buy-ins to players working black, all manner of prop betting and all manner of...well, etiquette.

While it was mentally taxing, it was not too much to bear. If I can deal that game in the Midwest, I could do it standing on my head at Paris, or Caesars or the Wynn.

Count it.