Chris Moneymaker Streams His Way To NJSCOOP Success

The 2018 NJSCOOP came to a close on Monday after 17-day series that included 40 high and 40 low buy-in events.

The New Jersey version of SCOOP promised to be “NJ’s richest tournament series ever” with guarantees of over $1.3 million.

It looks like PokerStars lived up to its promise with total prize pools totally over $1.5 million, more than $200,000 more than was guaranteed.

NJSCOOP 2018 is one for the record books

Of the 80 total events, only four high and six low buy-in events failed to meet the guarantee.

It was mostly the mixed games that had an overlay. The only game to miss its guarantee in both the high and low version was Event #34: Limit Stud H/L.

The largest turnout was for Event #37 – Low: $50 NLH Main Event. The 1,173 entries produced a prize pool of $53,371.50, over $13,000 more than what was guaranteed.

One of the tournaments that fell short was Event #37 – High: $500 NLH, 2-Day Main Event. It had a guarantee of $200,000 and fell short of its guarantee by $4,010. Even so, it still had 416 entries. You can still catch a replay of the final table on the PokerStarsNJ client.

With 70 of the 80 events exceeding its guarantee, NJSCOOP continues to prove itself as one of, if not the most popular online tournament series in New Jersey.

Moneymaker making money in NJSCOOP

As is often the case with online poker tournaments, it can be hard to see who is having a good series. Well, one player has a hard time flying under the radar regardless of where he is playing.

Chris “Money800NJ” Moneymaker, often credited with igniting the poker boom after his 2003 WSOP Main Event win, is recognized whenever he sits down at a poker table – both online and in person.

Streaming his series and tweeting about it makes it impossible to elude the headlines. As it turns out, this past weekend was headline worthy for the PokerStars pro.

And that was before his fourth-place finish in the $200 Mixed NLHE/PLO.

When asked about the highlight of the weekend, it wasn’t a specific hand or win that Moneymaker talked about. It was the community.

“It’s the community in New Jersey. I play the NJSCOOP every year, and it’s always the same guys,” Moneymaker told USPoker. “It’s a really tight-knit community. There’s a lot of communication at the table, a lot of talking back and forth, and it’s just a little bit different experience than what one would normally be used to when playing in an online setting. ”

Moneymaker in the winner’s circle

Moneymaker admits to having a target on his back every time he takes a seat in a tournament. It is no secret players play differently against the big names of the game.

Even so, he spent the weekend streaming his NJSCOOP grind, knowing full well it would attract attention and maybe even criticism.

“Streaming is tough because you’re trying to explain your thoughts, you’re trying to answer questions, and you’re also trying to play two or three tables at a time,” said Moneymaker. “It’s a lot of work. It adds to your day, instead of focusing on just playing poker, you’ve got a lot of other stuff going on.”

When asked if he thought streaming helped or hindered his game, Moneymaker said both.

“I think it helps overall, but it does hinder some. [It helps] when you have actually to vocalize your decision, explain why you’re doing it, and walk through the steps, so it makes sense to people.”

Moneymaker goes on to explain that hurts the other games he is playing outside of the mainstream. He isn’t putting as much attention or time into the decisions in those events.

“At the end of the day, it’s okay to have the other ones lose a little bit of their expected value if you can increase your expected value in the main one.”

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Moneymaker’s thoughts on NJSCOOP and poker in New Jersey

Moneymaker admits to liking this series. He travels from his home in Tennessee to the Garden State every year to play.

“[PokerStars] has a really good series here and it has grown since the inception. Every year it gets bigger. Last year, I think we were camping out at about a thousand people online. This year, I noticed that we had tipped over 1500.”

The numbers indicate online poker as a whole is declining in New Jersey. It seems as if players are looking towards shared liquidity and specifically, Pennsylvania coming online to help reverse the trend.

Moneymaker agrees Pennsylvania will have a considerable impact on the state of online poker in the state.

“The biggest thing for poker is having the volume and the mass of players that are playing at any given time. With Pennsylvania coming online, and then hopefully adding the player pools together it’ll make it a lot easier to find games. Then maybe you’ll start seeing more and more people playing during all hours of the day.”

Platinum Passes, SCOOP, and the WSOP … Oh, my!

PokerStars is getting itself ready for the time that legal and regulated online poker spreads across the U.S.

“People in the U.S. have very fond memories of PokerStars after Black Friday,” Moneymaker said. “They have a lot of goodwill built up in the U.S., and they want to be relevant in players minds. So as states do regulate, they’ll remember PokerStars.”

One way PokerStars hopes to remain relevant is by creating buzz about the PokerStars Player’s Championship.

“There hasn’t been a whole lot of opportunity for U.S. players to pick up Platinum Passes,” explains Moneymaker. “One of our big pushes going forth for the rest of the year is to get some of these passes into the pockets of U.S. players and get some buzz going around in rooms across the country.”

Two New Jersey residents took home a Platinum Pass valued at $30,000 – each by winning one of the two Main Events. Derik Li won his pass by claiming victory in Event #37 – Low: $50 NLH Main Event for $5,302.35. Michael Page won Event #37 – High: $500 NLH Main Event for $36,015.96 to pocket his.

Li and Page joined Maria Konnikova, Thai Ha and David Peters as US players who have secured a ticket to the highly-anticipated PSPC in the Bahamas in January 2019.

The next chance in North America for a Platinum Pass happens up north. While not in the U.S., a lot of players make the trek to Canada for SCOOP. Moneymaker is one of them.

Moneymaker has a busy few months ahead of him. After a few weeks at home with his family, Moneymaker will venture up north to his apartment just outside of Toronto, Canada.

It’s there that he will play the last half of SCOOP, one of his favorite online events. Coming off a successful weekend of streaming at NJSCOOP, Moneymaker says he will likely stream from May 13 – 18. Family and some personal appearances are preventing him from playing the full series.

Later in the summer, Moneymaker will head out to Las Vegas, Nevada for the WSOP. He doesn’t play a full series because summer is his time to be with his wife and kids.

He can’t, however, imagine not playing the tournament that made him a household name.

“I don’t want to say the excitement has worn off,” Moneymaker said about the Main Event. “Any time I’m able to go play a big buy-in poker tournament it’s always a really cool thing.”

One thing is clear after talking to the former Main Event champion is he loves his job.

“Whether I’m playing the Main Event or even if I’m in New Jersey, I realize I’ve got a pretty cool job. I’ve had it pretty well, and I’m very thankful for that.

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May 1 Marks Monumental, Unforgettable Day For US Online Poker

You may not have noticed it if you’re outside of New Jersey, Nevada or Delaware. However, May 1 marked the biggest day for online poker in the US since Black Friday.

On April 15, 2011, otherwise known as Black Friday to the poker community, the US Department of Justice effectively shut down online poker across the country. The DOJ blocked access to the biggest sites in the industry. It also charged the sites’ principles with various illegal gambling and money laundering charges.

In contrast, May 1, 2018 will be remembered as the day US online poker truly began coming back.

Shared online poker liquidity

Shared liquidity, or the pooling of players from all three US states currently offering online poker, launched on May 1. WSOP.com’s Head of Online Poker Bill Rini called it “a monumental day for online poker in the United States.”

He couldn’t be more correct.

All that really happened was that players on the WSOP.com sites in New Jersey and Nevada, 888 Poker in New Jersey, and the 888-powered Delaware online poker network’s Delaware Park, Dover Downs and Harrington Raceway sites started competing against one another.

But it meant so much more than just that.

Setting up the framework for US online poker

It meant the framework for online poker across the entire country was finally set up. It was an open invitation for all states to come online and join this new interstate network. And ultimately, it meant the seeds for US-wide online poker have been sown.

Players in all three states should immediately see more cash game traffic and tournaments with bigger prize pools. In fact, the sites are already promising as much, announcing they will be running a new Coast to Coast Classic tournament series featuring more than $1 million in guaranteed prize pools from May 11 to May 20.

They’re even guaranteeing a $200,001 prize pool for the series’ Main Event, a record for legal and regulated online poker in the US.

These are the kind of things that should entice even more players to get online again. It should boost the growth of online poker in the US even further. Plus, seeing it all unfold in a bigger way than ever before could attract even more states.

We know Pennsylvania is coming. Pennsylvania lawmakers approved online poker legislation as a part of a comprehensive gambling expansion package in October 2017. The state’s first online poker sites will likely launch before the end of 2018.

If and when Pennsylvania becomes the fourth state to join the interstate compact with New Jersey, Nevada and Delaware, the size of interstate online poker will likely double. All signs point to Pennsylvania signing on at some point in the very near future.

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Getting other states on board

That should finally be enough to convince other states who might be on the fence about online poker to get behind legislation that will legalize and regulate it there. Signing on to the interstate compact won’t be far behind.

Online poker will spread across the US. The market should return to at least the size it was before Black Friday. Online poker’s darkest day will be a distant memory and it will all point back to this major step forward taken on May 1.

Unforgettable, in every way

Few people remember April 30, 2013 as the day online poker returned to the US, but it most certainly was. On that day, Nevada’s Ultimate Poker launched, becoming the first legal online poker site in America.

People have difficulty remembering that date as the one when online poker returned to the US partly because Ultimate Poker ultimately folded. But mostly because the site, and the fenced-in Nevada market it operated in, was too small to have much of an impact.

The same could be said for all the legal online poker sites and the regulated markets they operate in that have launched since. Even the significantly larger market in New Jersey hasn’t proved big enough to push online poker in the US to the next level.

The launch of tri-state shared liquidity should be, and that should help make May 1 unforgettable.

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Stars Group Offers Biggest Ever Prize of £100 Million Ahead of World Cup

The company’s first-ever multi-brand campaign features its first multi-brand ambassador.

Earlier this week, The Stars Group launched “Stars £100 Million Challenge,” a free-to-enter competition where players have to accurately predict the outcome of all 64 matches in the upcoming football World Cup to be held in Russia starting June 14.

If anyone can achieve the rather unlikely task, they will take home a life-changing £100 million which will be paid in lump-sum.

Read the full article on pokerfuse →

We Give These Five NJ Online Casinos A High Five For Being The Best Of The Best

Players have a lot of choice when it comes to NJ online casinos. But not all online casinos in New Jersey are created equal. Some have a huge library of games while others offer unique and user-friendly software.

Some run great promotions on a regular basis while others offer some rather lucrative bonuses for new players.

It can be hard to separate the wheat from the chaff, but thankfully, we have done most of the heavy lifting for you.

Here’s a look at the current top five NJ online casinos to play at and the reasons why these particular online gambling sites made the list:

Golden Nugget

Golden Nugget launched late, finally getting online in New Jersey in December 2013. At first, it lagged behind popular online casino sites like Borgata and Caesars.

However, after jumping on the NYX open platform system in 2015 and ramping up its VIP rewards program, Golden Nugget has grown into the largest and most successful online casino in the state. Golden Nugget has developed a huge game collection, and it continues to break monthly NJ online casino revenue records, now regularly pulling in more than $6 million per month.

Its promotions aimed at drawing in new players are also quite competitive, even if they are tough to clear.

New players at Golden Nugget can claim a $20 no deposit bonus just by signing up for an account using the bonus code PLAY20.

Clearing the bonus requires players to meet a rather tough five times the bonus plus the bonus wagering requirement within 30 days of sign up.

Slots count 100 percent toward meeting the wagering requirement. However, table games, roulette, blackjack, and video poker count only 20 percent toward meeting the wagering requirement.

100 percent up to $1,000

Golden Nugget also offers a first-time deposit bonus. The bonus includes a 100 percent match of any first deposit up to $1,000. This is among the largest first-time deposit bonus offered in the NJ online gambling industry.

However, the wagering requirements are quite onerous. Slot players are required to play through 20 times the deposit plus the bonus.

Table game, roulette, blackjack and video poker players must play through 100 times the deposit plus the bonus. That means a blackjack player who deposits $1,000 will have to wager $200,000 before the $1,000 bonus is available for withdrawal.

Plus, players only have 30 days to meet the wagering requirements.

Regardless, Golden Nugget’s massive library of more than 500 games clearly keeps it among the top five NJ online casinos to play at. Even if its bonuses are difficult to clear.

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Betfair

Betfair was almost out of the New Jersey online gambling market as fast as it had entered it.

It runs the world’s largest betting exchange, but apparently, that doesn’t mean much in New Jersey and players didn’t recognize the Betfair brand at first. Plus, it opened up under the Trump Plaza internet gambling license just before the property went bankrupt.

It managed to stay afloat and found a permanent home operating under the Golden Nugget online gambling license in November 2014. Since then, the site has added more games, increased promotions, and improved its player loyalty program.

New Jersey gamblers have taken notice and signed up, in part because Betfair offers the most lucrative bonus structure for new players in the industry.

Betfair offers new players a $30 no deposit bonus just for signing up using the online promo code PLAY30. This is the largest no deposit bonus on offer in the NJ online gambling market.

The bonus itself cannot initially be redeemed for cash. However, any winnings accrued can be withdrawn once players make a deposit.

Biggest in the business

Betfair also offers new players the biggest deposit match bonus in the business. It’s a 100 percent match up to $2,500 for first-time depositors.

The wagering requirement is 20 times. That means it’ll take $50,000 in wagers to clear $2,500, but only by playing slots. Roulette counts only 50 percent toward the wagering requirement, and all other table games just 10 percent.

Players have 90 days from the time they received the bonus offer to clear the wagering requirements.

It has the best new player bonuses in the business. Plus, an attractive and healthy slate of NJ online casino games. That makes Betfair one of the top five NJ online casinos to play at. The name may be new to NJ players, but there’s little doubt its becoming more familiar to them every day.

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Virgin

Virgin launched in early 2014 under Tropicana’s internet gambling license. It is a sister site to Tropicana. In fact, Virgin is run by the same New Jersey arm of the UK-based online gaming software company Gamesys. The site is almost identical to Tropicana.

It runs a similar competitive and unique new player bonus structure. The only real differences come in the form of marketing, branding and a few game titles that are unique to each site.

New players at Virgin are eligible for a little larger $25 signup bonus when they register for a new account using the online bonus code 25BUCKS. There is a wagering requirement, but again, it’s only one time, making this one of the easiest bonuses to clear in the industry. However, the wagering requirement must be met within 30 days of signup.

More cashback bonus

Like Tropicana, the unique side of the bonuses for new players on Virgin comes in its first deposit bonus, which isn’t really a first-deposit bonus.

Instead of a matching a certain percentage of a first deposit on the site for new players, Virgin gives players a cashback bonus guaranteeing players won’t lose their first deposit up to $100.

Players can claim any losses they suffer in the first seven days after the deposit. Virgin will refund them the full amount of the loss up to $100.

Again, the refund comes in cash, so it can be withdrawn immediately. Plus, there’s no need to enroll and no promo code is necessary, as first-time depositors are automatically in.

Virgin’s unique and competitive bonus structure, coupled with its user-friendly Gamesys software, helps keep it among the top five NJ online casinos to play at. The game selection isn’t anything to write home about, but there’s surely something for everyone there.

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Caesars

Caesars casino launched as one of the first online gambling sites in New Jersey back in November 2013.

It was a partnership between Caesars Interactive Entertainment and Amaya Gaming. However, Caesars Interactive Entertainment dropped Amaya’s software in favor of the NYX Gaming Group and its open gaming system in September 2015.

That meant 40 new NYX games on the site. Plus, Caesars expanded its offering further in December 2015 after signing a third-party software agreement with NetEnt to hosts its games.

The result is a much more robust online casino product than Caesars originally launched in New Jersey.

New and improved bonuses

From the beginning, Caesars offered a competitive welcome package to new players. But its new and improved now. The offer now includes a $25 no deposit bonus for all players who sign up with the site using the exclusive bonus code PLAYFREE25.

There is a one time playthrough requirement at slot machines or 10 times at video poker that must be complete before this bonus can be withdrawn.

Caesars also offers a 100 percent match bonus up to $300 on any player’s first deposit.

It’s not the biggest bonus on the market, but the wagering requirements aren’t the toughest either. In fact, the wagering requirement is just three times the deposit and the bonus on slots and 30 times the deposit and the bonus on video poker. Table game players must play through the bonus plus deposit 60 times to clear it.

The new and improved bonuses with very welcoming wagering requirements makes Caesars one of the top five NJ online casinos to play at. The game selection is also improving all the time as well, ensuring it keeps a place on this list.

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888 Casino

888 provides software for all of Caesars Interactive Entertainment’s NJ online casino and poker sites. Plus, it runs its own online casino under the Caesars internet gambling license.

888 Casino uses its own in-house software. New games are developed in house and supplied by Net Entertainment and The Stars Group. This gives it a unique feel among New Jersey online casinos. Plus, the bonuses for new players are competitive.

Uniquely good bonuses

New players at 888 can claim a free $25 bonus exclusive to NJOnlineCasino.com. However, it does come with a rather tough 48 times wagering requirement.

There’s also a $500 welcome bonus for first-time depositors that’s a little less difficult to get ahold of.

When you deposit for the first time, the site gives you a 100 percent bonus up to $500 on that deposit.

This bonus has a 30 times wagering requirement on slots. However, it goes up to 150 times for roulette, and a 300 times for blackjack and video poker. Additionally, players have just seven days to clear the bonus or it will expire.

888 Casino has a unique feel and competitive new player bonuses. That makes it one of the top five NJ online casinos to play at, even if the bonuses can be tough to clear.

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What The Heck Is Pennsylvania Doing When It Comes To Online Casino Regulation?

Welcome to PlayPA‘s occasional Slack chat on topics in the online gambling world, with insight from Jessica WelmanChris GroveDustin Gouker and Steve Ruddock.

This week we focus on all the news around regulation of online gambling in the state.

dustin: So, we’re now seeing the rubber meet the road for Pennsylvania online casinos. Current licensees can petition for an online gambling certificate now. Platform and game providers are on deck.

Here’s the problem: Pennsylvania is choosing to ignore just about all of the lessons from the extremely successful NJ online casino industry. What’s the biggest problem we’ve seen come out of regulations so far?

jess: I think the first issue about skins was one the average PA person could understand. How it works, why it is an issue. In layman’s terms, what is the major issue that is holding up skins now?

chris: Just a ton of ambiguity in the law itself and in the temporary regulations that have been issued (and sort-of-clarified) in the last few weeks. There are a number of ways you can read it all, so the end result is no one is totally clear on how skins are going to work.

What we do know is that there will be some ability for the key license holders to offer skins. We also know that there will need to be a closer connection between the skin and the license holder than we see in New Jersey. Otherwise, it feels like a lot is still up in the air.

How online gambling accounts will work for users

jess: With that, I know some people don’t love the separated accounts. From a customer perspective though, doesn’t having a single account for multiple skins seem like a good thing on the surface?

chris: Customers would probably love just having one sign on for every online gambling site in the world (I would, anyhow). The issues come in when you start thinking about how to regulate that (Pennsylvania would be doing a lot of work from scratch).

Then you also have real questions about who “owns” the customer. If a skin feels like they’re just renting a customer from the license holder, there’s not going to be a lot of incentive to invest in marketing or product (or maybe even to operate a skin in the first place).

Finally, there are some legitimate questions about account security and privacy. If a player’s sensitive data has to keep getting bounced back and forth between the license holder and the skin, that’s a lot of additional exposure for the player.

jess: So the idea isn’t really the problem, it is in the execution?

chris: I think it’s both. There are definitely problems with execution, but the idea of a customer having a “master account” across other sites is one with its own inherent pitfalls.

Gobbledygook for PA regulations?

steve: I think the commentary so far is pretty spot on. As Chris pointed out, the PGCB has taken two cracks at setting the requirements for skins (temporary regulations followed by an explanatory package), but it has yet to speak plainly and decisively on the matter. All we’ve gotten is two rounds of gobbledygook, creating something gaming companies avoid like the plague… uncertainty.

Unless skins have a great deal of autonomy when it comes to the promotions and rewards programs they can offer, there are scant few reasons for a customer to sign up and play at a skin instead of the main license holder, who just so happens get free advertising from every one of their skins thanks to the brand association requirements.

New Jersey and other markets around the globe have shown that you lose customers with each additional step in the registration process. The same rationale can likely be applied to skins in Pennsylvania. Why is a customer going to click through to a subpage to download the same software that they’re being prompted to download on the main page?

These regulations can be interpreted multiple ways. But a hardliner reading is the equivalent of someone walking into a pizza parlor that has a door to a nearly identical pizza parlor inside it. In fact, the second pizza parlor clearly states its pizza is made by the pizza parlor the customer is currently standing in. So why are they going to walk the additional 300 feet?

dustin: Now I want a pizza. What about the account stuff?

steve: The so-called “master account” is an even bigger head-scratcher.

If it works like we think it works (and who knows if that’s the case), who does own the customer that signs up at landbasedcasino.com but now plays almost exclusively on skinnumberone.com?

At the end of the day, I’d like to know why the PGCB has decided to create a radical new, untested skin model.

Economic impact for PA online casinos?

dustin: As Steve has written before and Chris has opined, we have a totally viable and successful market operating in New Jersey. Why Pennsylvania is trying to reinvent the wheel is a mystery. Well, it’s probably not a mystery, we know some casino operators (ahem Parx and Hollywood Penn National) have been trying to limit how skins can operate for a while.

This seems pretty self-defeating for them, and for the regulators trying to create both a safe and successful market. Anyway, with everything we’ve seen, in a worst case, how much impact do we think all of this could have on PA online casinos’ ceiling from a potential revenue standpoint?

steve: I have little doubt it will negatively impact the market. How much really depends on the official policy that is hopefully coming in short order. Even if the PGCB softens on some of the requirements, companies that would have shown interest in PA will stay out of the state. More worrisome, if PA does take a hardline approach, we may not see any skins at all, and that would be bad for land-based operators, consumers and the state.

chris: I think the tax rate is going to have a bigger impact. But the one-two of the high tax rate and no skins has an impact that is greater than the sum of its parts. Skins are a way for license holders to distribute some of the risk that the high tax rate brings. In the absence of that hedge, license holders may well end up being more cautious with their own product and marketing investments, which is a clear negative for the state.

I don’t think there’s any doubt that Pennsylvania is setting itself up to perform below New Jersey on a per capita basis.

Can tax rates be fixed?

jess: Chris mentioned the tax rates. We all observed how high and problematic they were in October when the bill passed, but I know several people held out hope that the state would come around on tax rates. Given what is going on with skins, is a change in tax rates just a pipe dream at this point?

dustin: Seems pretty unlikely we’re gonna see the legislature go into the tax rates until they see some sort of evidence that they are holding back the market. It took years to even get an online gambling law on the books, so expecting them to lower the tax rate before the industry even starts is pretty unlikely.

And even in the near term, they would have to be presented with overwhelming evidence that the tax rate is holding things back. Might that evidence manifest itself quickly? Sure. But counting on a lower tax rate any time soon is difficult to see.

jess: Thinking ahead though, at what point do all of these decisions negatively impact the industry to the point it is considered a failure? Are we still really far out from that?

dustin: Until the rubber actually meets the road and we have casinos saying they are offering online gambling/poker, and then the market actually rolls out, it’s going to be a bit hard to say. I don’t know if all of this will lead to it being called a “failure” but it’s certainly not going to reach its potential.

jess: And correct me if I am wrong, but there are two issues we are talking about here that could negatively impact PA participation. The first is the tax rate, which might be considered too high for some properties to enter the market.

The second is that these convoluted skins laws are going to potentially deter outside participants from getting into PA as a skin?

steve: The tax rate won’t be touched in the near-term. The most obvious reason is that PA is starting from $0 in online gaming revenue, so any revenue is going to be welcome. Second, it took NJ online operators a year to really gets their feet under them, so I doubt the PA legislature will look at the revenue coming in 12 months from now and hit the panic button.

And we shouldn’t lose sight of the fact that PA was told the same thing 15 years ago when it imposed a 54 percent tax on land-based slots. Despite the high rate, in the ensuing years, it’s become the second largest gaming market in terms of revenue.

The post What The Heck Is Pennsylvania Doing When It Comes To Online Casino Regulation? appeared first on Play Pennsylvania.

MGM Resorts Revenue Hurting Thanks To Casino With No Front Door

First quarter revenues were down at one of Southern Nevada’s Big Six casino companies and the rebuilding and re-branding of one of its Las Vegas Strip properties may be to blame. MGM Resorts International reported net revenues of $2.1 billion on its first quarter earnings call last week. A number that was down one percent from the same period last year.

In fact, MGM Resorts CEO Jim Murren said the companies Las Vegas Strip revenues were actually down two percent compared to the first quarter of 2017.

MGM did manage to do better than the three to five percent drop it projected in its fourth-quarter earnings call. However, Murren said matching 2017’s numbers was impossible because of issues surrounding the ongoing rebuilding and re-branding of MGM’s Monte Carlo property into Park MGM.

Unlike anything MGM has done before

Murren said the project has been unlike anything MGM has done before and the organization completely underestimated the financial impact it would cause:

“It’s worth noting we’ve never undertaken anything like this before, and when it’s all said and done we will have literally changed every square inch of the property while keeping it open.”

According to Murren, the major issues at the new Park MGM have been a lack of vehicle access to the main entrance and direct pedestrian access from the Las Vegas Strip during the rebuild:

“It’s kind of a tough thing when you go to a resort and can’t drive up to the front door.”

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Lowered expectations

Murren added that MGM has also lowered expectations for the second quarter of the year.

This, as the Park MGM project continues and the Saul “Canelo” Alvarez-Gennady Golovkin boxing match scheduled for next month at T-Mobile Arena has been canceled. Plus, Las Vegas tourism continues to recover slowly following the mass shootings outside Mandalay Bay on October 1, 2017.

Southern Nevada’s Big Six casino companies also include:

Earnings have been down at most of the companies’ Las Vegas properties for a variety of reasons, including the slow rebound in tourism after the mass shootings.

However, Murren said the decrease in revenue at MGM is isolated to the factors he described. As a result, they should start turning around by the end of the year.

The Monte Carlo-Park MGM switch

In fact, he said the switch from Monte Carlo to Park MGM should be completed in December 2018. In turn, that will improve the outlook for 2019 substantially:

“It’s looking now like its more intended final product. We are finally coming to the completion on that at the end of this year.”

According to Murren, 90 percent of the rooms are already finished at Park MGM. Plus, amenities including restaurants and the sports book are already performing well:

“When we do release things to the public, we are seeing very high returns. It’s just been brutal in this process.”

 

 

 

 

 

 

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