MGM Resorts International is obviously planning something — we don’t know what — for the KOA Campground site at Circus Circus. That’s the logical conclusion to be drawn from yesterday’s announcement that KOA is packing up and taking over campsite operations at Sam’s Town. “Effective October 1, the park will be renamed the Las Vegas KOA at Sam’s Town, and become KOA’s new, exclusive home in Las Vegas,” reads the press release.
From this we can glean two things. One, Boyd Gaming is unloading the cost and responsibility of running a large RV park onto an outside operator. Second, KOA Campground and Rock in Rio, which is Continued >>
Both Boyd Gaming and Pinnacle Entertainment met with Wall Street analysts this week, everybody being in town for Global Gaming Expo. Boyd CEO Keith Smith and CFO John Hirsberg said they saw an abatement in negative business trends, now confined to specific markets instead of company-wide. Positive trends in the Las Vegas economy and less comping were seen as shoring up business on Boyd’s home turf, although spend-per-player is still 20% off peak levels.
“[M]anagement remains surprised by its ability to continue to extract operating costs from the business,” wrote Deutsche Bank‘s Carlo Santarelli. He added that the company will be investing in more infrastructure and information technology with an eye to even greater cost savings. As for the Atlantic City Massacre’s impact on Borgata business, Continued >>
“It just gives you a dirty feeling, like you want to take a shower.” — Glenn Straub, on the interminable bankruptcy auction for Revel, now adjourned until Sept. 30.