Sam’s Place

By David McKee ~ August 22nd, 2014 @ 4:10 pm No Comments »

“The Sahara is gone. The SLS is here. Before long … we’ll only be talking about the SLS.” That was the Great & Powerful Harry Reid, administering a verbal beatdown to anyone still nostalgic for the Sahara. Reid’s dose SLSof Tough Love struck the only discordant note in the love fest for Sam Nazarian held today at the intersection of Sahara Avenue and the Las Vegas Strip, where the SLS Las Vegas was busily stirring to life. Even though the property was not officially open, its coffee shop (The Perq … Nazarian must have swiped one of Gary Loveman‘s prized Qs) was doing brisk business by 10:30 a.m. while, across the corridor, Fred Segal Jewelry was frantically applying the final touches. (“They’re the last piece to come together,” said an exec.) All over the resort, which was nominally finished ahead of schedule, somebody was busy working on something, providing a background hum of hyperactivity.

By the same token, there was a jolt in the Congo Room (converted to convention space) electricity when Continued >>

Quote of the Day

By David McKee ~ August 22nd, 2014 @ 4:10 pm No Comments »

steve-wynnSteve Wynn: What is SLS?

Sam Nazarian: “Sam loves Steve.”

telephone exchange between Wynn and Nazarian, as retold by Sen. Harry Reid (D-NV) at today’s SLS Las Vegas press conference.

When the punishment doesn’t fit the crime

By David McKee ~ August 21st, 2014 @ 2:21 pm No Comments »

Matthew Eisenberg is no Jean Valjean. Still, that’s no excuse for levying upon him a fine that is 375 times the amount he stole ($200 in Rivers Casinochips) from Rivers Casino. The fault lies not with Rivers but with Pennsylvania laws. In 2010, theft was added to the litany of casino-related crimes for which a first offense would result in a $75,000 fine. (Others included cheating and unauthorized operation of slot machines.) “What we’re doing here, we’re protecting the rights of the casino … the Legislature has placed the casino above everybody else in Pennsylvania,” Eisenberg’s lawyer argued unsuccessfully argued at trial.

However, he managed to get his case before the Pennsylvania Supreme Court, which unanimously found the 75K fine unconstitutional. The justices agreed with Continued >>

Case Bets

By David McKee ~ August 21st, 2014 @ 1:15 pm No Comments »

Any fears of antitrust litigation in the Scientific Games/Bally Technologies merger were put to rest yesterday when the two
companies announced they had cleared the Hart-Scott-Rodino Antitrust Improvements Act waiting period ahead of schedule. This is Bally_logo1hardly equal to leaping the final hurdle but a high bar has been cleared. “The transaction remains subject to approval by Bally’s stockholders, receipt of certain gaming regulatory approvals and other customary conditions,” wrote Bally spokesman Mike Trask. “The news is not a surprise as we didn’t expect any major antitrust concerns given the increasing number of competitors in the space,” Union Gaming Group analyst Robert Shore told investors.

* Convicted felon Vaughan Perry hit the wrong sort of Continued >>

Further Reading

Sam’s Place

Quote of the Day

When the punishment doesn’t fit the crime

Case Bets

Revel’s 21 grand goof

Quote of the Day

MGM, Garden State peace talks continue

Cali Tribe goes rogue and other Case Bets

The contradictions of Sam Nazarian

Life after Revel?

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