American Gaming Association data on the health of the casino
industry continues to be parceled out. Today we learned that Louisiana has 2.2X as many casino employees as Ohio but they make 2.7X as much. Mind you, the Buckeye State’s industry is still growing (the report does not account for a racino that opened during the survey) and there’s a learning curve: “casino and racino officials have said employees quit because they can’t adjust to working in a business that never closes, [while] other employees have been promoted or moved to properties in other states.” Louisiana ranks fourth in wages paid, while Ohio comes in at 12th place, right in the middle of the pack. The state will probably move still further up the totem pole when racinos in Dayton and Youngstown open later this year.
* New York State‘s casino-siting board has until Labor Day to practice its Continued >>
New Jersey‘s Casino Control Commission has been accused of overzealousness in the past (think MGM Resorts International and Pansy Ho). But now some overzealotry is what local politicians want. In a bizarre and probably unconstitutional move, they want the NJCCC to force, yes force, the Showboat and Trump Plaza to stay open an additional four months. State Sen. James Whelan told The Press of Atlantic City “the longer the better, because first of all, it would keep people working, and secondly, it would maximize the possibility of someone [interested in buying the property] having enough time to do their due diligence.”
S&G is all for keeping casino employees at their jobs, especially at the Showboat, whose operating profit was — according to Continued >>
Las Vegas Sands and Bwin shareholder, and all-around string-puller Jason Ader is committing 350 million of (other people’s) dollars to bringing a Major League Soccer franchise to Las Vegas. Much of the investment would be realized through the EB-5 visa program. (How many Chinese can an MLS team support?) A goodly chunk of the rest would be raised through taxpayer subsidies. “We would be looking for a tax concession. The question is how much? It would need a subsidy,” Ader told the Las Vegas Review-Journal. Ader has offered to chip in some of his own capital, though it’s unclear at this point how much.
Trouble is, Las Vegas has already signed off on a development deal between Cordish Cos. and and Findlay Sports & Entertainment. The Findlay plan is scheduled to be announced on Aug. 6. On one point Mayor Carolyn Goodman is in sync with Ader: Continued >>