*Blog postings do not necessarily reflect the views of Fantini Research

By Steve Norton

CEO, Norton Management

Why Would Wynn Resorts Consider Selling Encore Boston Harbor?

My comment:

This article questions why Wynn Resorts would consider selling its Boston Encore casino resort just weeks before its opening. The one economic question in the article centered around the lower financial performance of the MGM Springfield which will probably generate casino revenues of around $250 to $300 million annually, unless the Connecticut tribes are successful in developing a smaller casino in East Windsor.

By Steve Norton
CEO, Norton Management

Appellate Court Rules Long-Running Borgata Babes Case Can Go to Trial

My comment:

This issue of casinos and night clubs hiring attractive female cocktail servers has been around long before gaming at the Borgata, Atlantic City or even Nevada.

Places serving a predominantly male clientele will draw more customers with physically attractive servers. The same situation occurs where handsome males are preferred in establishments primarily serving female clients.

By Steve Norton

CEO, Norton Management

Ohio Sports Betting Proposal Limited to Brick-and-Mortar Books

My comment:

Well done!

I applaud Ohio for avoiding the temptation to add mobile gaming, casino games, and sports betting, from their recent bill. The inability to bet from home or work will definitely help in preventing an otherwise inevitable increase in compulsive gambling. But restricting most of the population only to place their sports bets at the 4 casinos and 7 racetracks will still leave many state residents preferring to continue their use of illegal offshore betting sites on smartphones or computers that produce no taxes, jobs or revenue to the state of Ohio or its legal gaming establishments.

A compromise that I prefer, would be to approve sports betting lounges, similar to those in the United Kingdom, with a small number of Video Gaming Terminals, food and beverage service, with superior video screens to follow all sporting events, then in progress.

Fewer people are visiting Las Vegas but they are gambling about the same, according expanded visitor statistics from the Las Vegas Convention and Visitors Authority.

The average gambling budget last year was $527.05, about the same as 2017 but short of the over $600 of 2016.

Fewer newcomers are coming to Las Vegas with only 18 percent of visitors being first-timers compared to 21 percent in 2017 and 27 percent in 2016. And repeat visitors are coming less frequently, making just 1.5 visits last year, the lowest number in five years. They are also staying for shorter periods at 3.4 nights per visit, though that reverts to what was the norm in 2015 and 2016.

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