Green Felt Journal
Green Felt Journal
Buckle Up for the Polercoaster
June 18th, 2013
This morning, Las Vegas learned about the Polercoaster, a proposed $100 million thrill ride that merges an observation tower—like the one at the Stratosphere—with a roller coaster—like the one at New York-New York. It didn’t take five minutes for the hype machine to swing into berserker mode. Read more »
Green Felt Journal
Casino Concentration and the Logic of Empire
Consolidation looks like a bad move for operators, customers
June 11th, 2013
For the Las Vegas casino industry, the past decade has been defined by two things: consolidation and disaster. From 2000 to 2008, Las Vegas Strip casino operators acquired each other until two companies—today they are known as MGM Resorts International and Caesars Entertainment Corporation—controlled nearly two-thirds of the Strip corridor casino market. The following three years is where the disaster, in the form of the recession, comes in. Read more »
Green Felt Journal
Investing in America
Foreign investors may lead charge in future of casino financing
May 28th, 2013
“Invest In Your American Dream,” reads the text next to a photo of the “Welcome to Fabulous Las Vegas” sign. The words are quickly replaced by “LAS VEGAS EB5 IMMIGRATION CENTER IS YOUR BEST CHOICE,” with a view of the Strip at night, followed by “THE OPPORTUNITY TO OBTAIN U.S. GREEN CARD,” against a pastiche of a billowing American flag with extra stars, the Statue of Liberty and the Capitol building. Read more »
Green Felt Journal
One Game’s Wild Ride
Caribbean Stud's slow disappearance from casinos is nearly complete
May 8th, 2013
The gambling urge is pretty much universal and just about timeless. But the ways people gamble—those change quite a bit. For a while, faro was the Game That Won the West, surpassing all others in popularity. Then, fueled by the return of servicemen who’d played it during World War II, craps had its day, followed by the ascendance of blackjack after players learned they could “beat the dealer.” Read more »
Green Felt Journal
MGM's Park, and Competition With Linq, Will Be Good for Vegas
April 18th, 2013
MGM Resorts released the official announcement this morning about its latest Las Vegas Strip project, The Park. The big question is, “What’s this mean for Vegas?” Read more »
Green Felt Journal
Will Video Games Go Vegas?
As slots are losing the youth market, gaming plans its next move
April 17th, 2013
“Gambling,” said John Acres at last year’s Global Gaming Expo, “is dead.” For support, the man who has been in the casino business for more than 30 years and invented the modern players-club card cited the plummeting appeal of spinning-reel machines for just about everyone under 40. Read more »
Green Felt Journal
Slot Revenues Fall, High-End Play Rises
February numbers show Vegas casinos’ increasing reliance on big players, especially those from Asia
April 10th, 2013
The numbers are in, and Nevada casinos had a good February overall, with the uneven results demonstrating a great deal about where gambling in the state is right now, and where it might be headed. Read more »
Green Felt Journal
The British Are Coming!
The United Kingdom has developed into a major Vegas feeder market
April 3rd, 2013
The two biggest demographics in Las Vegas these days seem to be nightclubbers and international visitors. As a bit of anecdotal evidence of the trend, the casinos in development that have stoked the imagination plan to cater either to the former (SLS, Gansevoort) or the latter (Resorts World). So when you get the two together—international visitors who like to party—you know you’re talking gold mine. Read more »
Vegas Looks Good Next to Atlantic City
March 22nd, 2013
Here in Vegas, we think we’ve got it bad. Total gaming win is still off its 2007 high, spending per visitor is down, and, with many companies overburdened with debt, the future is uncertain. But compared to Atlantic City, we are Macau. Read more »
Green Felt Journal
With Resorts World, Macau Comes to Vegas
March 19th, 2013
When Resorts World Las Vegas rises from the abandoned husk of Echelon Place on the north Strip, it will be very different from what Echelon would have been. And the differences tell us a lot about where Las Vegas has gone in the six years since the property’s 2007 groundbreaking. Read more »
