Marc Falcone
Marc Falcone
across clear games growing market table vegas
It's clear Wynn Las Vegas is growing the market across every segment, slots, table games and baccarat.
believe business eve exceed fourth indicate low operators quarter strip vegas volumes year
Conversations with Strip operators indicate that business volumes over New Year's Eve in Las Vegas were up significantly year over year. Additionally, we believe expectations for the fourth quarter on the whole are low and operators could exceed them.
business convention displaced help stimulate vegas
Plus, Las Vegas will be the beneficiary of displaced convention business (from New Orleans), which will help stimulate demand.
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Las Vegas is one of the top destination getaways in North America and a great value compared with the alternatives such as Disney World, New York City and San Francisco.
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We believe that Boyd should also benefit from this continued Las Vegas locals growth, so we're currently projecting 9 percent (third-quarter) revenue growth for its Boulder Strip and Coast properties.
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We believe Red Rock will redefine a new development and experience standard for both the locals and Las Vegas Strip markets.
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Overall, we remain impressed with results from the high-end business and expect that the addition of Wynn Las Vegas will help maintain the strong momentum.
add business fourth insurance operators start upside
In all likelihood, operators will start getting business interruption insurance in the fourth quarter, which would add upside to our forecasts.
believe bids columbia difficulty indicate lower offer operators pose
The bids lower than the $47 offer from Columbia indicate that operators believe licensing could pose a difficulty in that proposal.
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They would create a more efficient environment for employees and a more enjoyable experience for customers as well as being built in more protected areas.
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If Lake Charles avoids a direct hit, devastation to the primary feeder market could have a negative impact as coverage from business interruption insurance is not certain.
difficult expect negativity toward
It's difficult to find a lot of negativity toward the group. Clearly, the fundamentals are very strong, and I expect that to continue.
earnings messy near next possibly term
earnings could be messy over the near term and possibly impacted for the next 12 (months) to 24 months.
base case estimates forecast giving investors useful
While these estimates could still potentially change, we thought it could be useful to forecast a base case for the impacted casinos, giving investors an idea of the