Fears of a large, deep gaming downturn seem to have passed, one gaming analyst on Wall Street said in a note to investors.
Crews will begin construction work next month on a new ground-up casino that will replace Jokers Wild in Henderson, executives with Las Vegas-based Boyd Gaming said during a third-quarter earnings call on Thursday. The 450-slot casino is expected to open in early 2026 and plans to phase its growth in line with the neighboring Cadence master-planned community.
The following is a roundup of gaming and casino news from Las Vegas and elsewhere.
Investors expect little change in Q3 earnings calls
Fears of a large, deep gaming downturn seem to have passed, one gaming analyst on Wall Street said in a Wednesday note to investors. Barry Jonas, of Truist Securities, said he expects gaming fundamentals to remain stable during upcoming earnings calls for operators, manufacturers and others in the industry.
“Strip operators continue to battle the ‘Peak Vegas’ narrative, while Regional and Local operators continue to battle for flat – thus, we aren’t expecting any Q3 prints to write home about,” Jonas wrote. “In this environment, we think narratives are shifting more to (merger and acquisition) optionality.”
Mercedes F1 pop-up shop on the Las Vegas Strip
The Mercedes-AMG PETRONAS F1 Team is opening up a pop-up shop inside Aria casino-hotel on the Strip. The limited-time experience will open Nov. 8 and run through Nov. 24. It will be open 24 hours a day in the hotel lobby.
The Mercedes pop-up event at Aria will feature F1 simulators, a virtual reality VIP garage tour featuring Lewis Hamilton, historic memorabilia and exclusive merchandise.
The 2024 Formula One Las Vegas Grand Prix will take place between Nov. 21-23.
Gambling ballot measures
Four ballot measures will face voters in three states next Tuesday.
The biggest contest involves whether Missouri would become the 39th state to approve legal sports wagering. Also in Missouri, voters will be asked to consider a new casino license in Osage County in central Missouri off the Osage River.
In Colorado, voters will be asked to consider Proposition JJ, which would extend its policy of retaining any revenue generated by sports wagering above $29 million for the Water Plan Implementation Cash Fund to fund state water projects.
In Arkansas, Issue 2 would repeal 2018’s Issue 4 vote that allowed casino gambling in Pope County in central Arkansas. In 2018, voters approved casino gambling in four counties, but only Pope County gaming would be affected by this year’s vote.
Aristocrat in UAE
Aristocrat Gaming, which has a large presence in Las Vegas, has become the first international slot machine and online technology company to receive a gaming-related vendor license by the General Commercial Gaming Regulatory Authority, the federal entity overseeing commercial gaming activities in the United Arab Emirates.
The licensing was announced Monday.
Wynn Resorts Ltd. is in the process of building a $3.9 billion casino resort, Wynn Al Marjan Island, on 115 acres in the Ras Al Khaimah emirate on the Arabian Gulf inlet of the Persian Gulf.
Bamboo on board
Southwest Airlines is transitioning to new cold cups and stir sticks for inflight beverage service that the airline says will remove single-use inflight service items by 2030.
The new cups are made of 93 percent non-plastic materials with a pulp blend consisting of 75 percent bamboo and 25 percent paper and polyethylene lining. Stir sticks are made from certified 100 percent birch wood.
In July, Southwest switched to 100 percent recycled napkins.
Smoking in Boyd-operated Virginia casino sparks outrage
Las Vegas-based Boyd Gaming and the Pamunkey Indian Tribe will break ground on a new casino in Norfolk, Virginia on Wednesday. Anti-smoking advocates plan to take advantage off the event to highlight their concerns about the new casino being deemed a smoking property.
Casino Employees Against Smoking’s Effects, or C.E.A.S.E., plan to hold a press conference and rally showcasing their opposition to the smoking policy.
“No worker should ever have to choose between their health and a paycheck, but that’s exactly what will happen when this casino opens,” said Juana Wilson from C.E.A.S.E. VA. “Casinos are the only places in Virginia where you can still smoke indoors, and casino workers bear the brunt of that decision. This casino has the potential to be a great addition to our vibrant downtown, but with 90% of potential guests who don’t smoke, this decision is shortsighted and outdated.”
