Indy Gaming: What’s underneath? That’s the question awaiting developers of the Vegas Loop

Get on a custo m-made Tesla vehicle and go south to the Las Vegas Convention Center in Downtown, Alegant Stadium and McCaran International Airport, and go on a 2 9-mile nea r-futuristic basement trip around the Las Vegas resort corridor. It will still take some time to become.

It is a task to find out what is underground before the Boring Company of Iron Musk sends millions of dollars in the Las Vegas strip far below the basement.

"Theoretically, we have a plan for everything built," says Steve Hill CEO of the Las Vegas Tourism Bureau (LVCVA). "But the final result may not be the same as the plan.

Last week, the Clark County Committee unanimously approved a special use permit and franchise agreement for Boring's Twin Tunnel Construction Plan for a Twin Tunnel Construction Plan to apply for and acquire architectural permits.

With a 5 0-year franchise agreement, the company can operate systems, collect fare, and supervise advertisements and partnerships. Boring needs to sign a franchise agreement separately for the Las Vegas area and the transportation area.

"I think most of the systems will be introduced in two and a half to three years." All submitted and approved ones will probably be operated in plus and five years later. "

Hill and LVCVA were promoters of the system, opening 18 miles of 18 miles earlier this year, about 40 feet underground at the Las Vegas Convention Center. This route connects the north, south, west of the conference room in less than 2 minutes. It takes about 25 minutes on foot. The total construction cost of the LVCVA system is $ 52. 5 million. The cost of the entire Vegas loop is undecided. Boring will bear the development and construction costs, and collect the fare paid by the system user.

LVCVA considers Las Vegas Loop as a way to alleviate the congestion in the resort corridor and provide a unique traffic experience to Las Vegas visitors.

Up to 4. 400 attendees per hour can move on the campus by the conveyor system system. At the World of Concrete Fair held in June, tourism officials used loops.

Tesla car lined up in Las Vegas Convention Center Station on the loop transportation system. (Photo provision: LVCVA)

According to Hill, people "like" this system, but the real test will be held in the next week's SEMA (Specialty Equipment Market Association).

"In general, everyone (to the convention center) will try and use the system," Hill said.

The next step is to expand footprint. The tunnel connecting the Convention Center and the Resort World Las Vegas is already under construction.

In a statement published by a resort World, Legal Adviser Gerald Gardner said that the facility would open the first boring company resort station on a "within a few months". A spokeswoman said in e-mail and the station was located on the southeast corner of the site near the retail and dining area.

Gardner stated that the committee's voting was "a step toward realizing a large vision of the planned loop and a unique transportation experience in Las Vegas."

According to Hill, the bowling company still needs to obtain a construction permission for all parts of the system to be developed, such as tunnels, roun d-trip trips to stations, and closed stations.

For the construction of a station and slope, each real estate provides funds. Currently, the Las Vegas Loop System requires 51 stations along the strip.

After the resort World, the next stop in Vegas Loop has not yet been decided. Win Resorts announced in October 2020 that Win Las Vegas and Encore will be connected to the loop.

"I don't know where the next place is or what is there, but the connection to the Vegas Roop is still on track," said Michael Weaver, Chief Communication Officer in Win Resorts. We plan to open by midsummer next year. "

Hill said he had no qualifications for the next destination, but would take some time to complete the process.

"They can start all necessary work to actually create a plan to submit to the Architectural Bureau," said Hill. "You must avoid all utilities buried in the basement, or to move some of the utilities buried underground.

Meanwhile, the convention center has increased the use of Lus Vegas Monorail, which was acquired by LVCVA for $ 24. 26 million since LVCVA last November. However, Hill stated that LVCVA is extremely unlikely to expand the system more than the current 3, 9 miles, due to cost and maintenance issues.

This makes a clear path if the bowling company wants to extend the Vegas Loop to the airport.

"Even if you compare the extension costs of the heavy company system and the monster system, it will probably be less than on e-tenth, such as the cost per mile," says Hill. "I think the monorail will eventually be out of date. When we purchased a monorail), we talked about it." "

It costs not only monorail expansion costs, but also train repair and exchange.

"It costs $ 200 million to replace these nine trains," says Hill.

He says that it is much cheaper to arrange Tesla's vehicles.

Sands Macau. The photo is via Wikimedia Commons

Sands CEO says that there is no possibility of withdrawing from Macau

The confusing investment process of Macau's gaming concession, which was revealed last month, left more questions than the answer to the investment community.

STIFEL FINANCIAL GAMING's analyst STEPHEN WIECZYNSKI asked Rob Goldstein, President and CEO President Las Vegas Sands at the company's thir d-quarte r-year conference last week.

"Is there a scenario in the near future not to run casino assets in Macau?" Wiedzynski asked.

Sands, along with Win Resorts and MGM Resorts International, explain the extension of all six casino licenses, a total of six Casino licenses, the Macau government, which will expire in June 2022. I've been waiting for more than a year.

"I think many investors are now thinking about what the Chinese government really wants.

Goldstein answered the same frankly.

"I don't think so. I don't think there is a possibility of that," said Goldstein about a company separated from Macau. "No. I don't think there is any possibility." "

Stephel Financial Gaming Analyst Stephen Vetinsky (Photo: Stifell)

Las Vegas Sands is selling Las Vegas's business for $ 6. 25 billion, and will focus on Macau's six casinos and Singapore's Marina Bay Sands.

Goldstein told the investment community that the company, which opened the first American casino in Macau in 2003, is not done with its efforts. He blamed Sands founder Sheldon Adelson, who died in January, for leading Macau's creation as a gaming destination, generating $45 billion in casino revenue in 2013 before economic hardship and the pandemic caused the market to fall to a 15-year low in 2020.

"We've invested more than $15 billion in Macau over the last 20 years.

"We're with our employees. So we remain extremely confident that we're going to run Macau. I don't see any chance that we won't. I'm not trying to make any platitudes. All the indications we've got are to the contrary."

The Macau government has proposed increased regulatory oversight, including tighter capital controls, and recommended that licensees distribute profits to shareholders only after prior government approval.

Macau will also appoint a government representative to each licensee to "oversee and manage day-to-day operations and safeguard the public interest." The entire review process, which began in late September, is expected to take 45 days.

In a research note to investors after the conference call, Wieczynski said Las Vegas Sands executives must take a "significant stance" to tell investors why they believe in Macau's future. The company is currently spending a total of $5. 5 billion on upgrading both its Macau and Singapore properties.

"There is still little appetite for Macau-based companies to invest," he said. "Long-term investors will not be looking at these names until there is more clarity on how concession renewals will proceed or the Macau market actually stabilizes and starts to show growth over a long period of time. The problem is that the exact timing of when either of these two events will occur is unpredictable."

Wieczynski said his outlook for Las Vegas Sands is "highly risky," but that it could attract investors with a long time horizon.

Goldstein said the Macau government should recognize Las Vegas Sands' track record of growth. Goldstein told the investment community that the company, which opened Macau's first American casino in 2003, isn't done with its efforts. He blamed Sands founder Sheldon Adelson, who died in January, for leading Macau's creation as a gaming destination, generating $45 billion in casino revenue in 2013 before economic woes and the pandemic caused the market to fall to a 15-year low in 2020. "We've invested more than $15 billion in Macau over the last 20 years.

"We stand with our employees. So I remain extremely confident that we will manage Macau. I don't think that's going to happen. I'm not trying to make nice things. All the indications we've got are to the contrary."

The Macau government has proposed increased regulatory oversight, including tighter capital controls, and recommended that licensees distribute profits to shareholders only after prior government approval.

Macau will also appoint a government representative to each licensee to "monitor and manage day-to-day operations and safeguard the public interest." The entire review process, which began in late September, is expected to take 45 days.

In a research note to investors after the conference call, Wieczynski said Las Vegas Sands executives must take a "significant stance" to tell investors why they believe in Macau's future. The company is currently spending a total of $5. 5 billion on upgrades to both its Macau and Singapore properties. "There is still very little appetite for investment in Macau-based companies. "Long-term investors will not be looking at these names until there is more clarity on how the concession renewals will go or the Macau market actually stabilizes and starts to show growth over a long period of time. The problem is that the exact timing of when either of these two events will occur is unpredictable."

Wieczynski said the outlook for Las Vegas Sands is "highly risky," but could attract investors with a long time horizon.

Goldstein said the Macau government should appreciate Las Vegas Sands' track record of growth. Goldstein told the investment community that the company, which opened Macau's first American casino in 2003, is not done with its efforts. He blamed Sands founder Sheldon Adelson, who died in January, for shepherding Macau's creation as a gaming destination, generating $45 billion in casino revenue in 2013 before economic hardship and the pandemic caused the market to fall to a 15-year low in 2020.

"We've invested more than $15 billion in Macau over the last 20 years.

"We're with our employees. So I remain extremely confident that we'll be able to run Macau. I don't see any chance that we won't. I'm not trying to make nice things. All the indications we've got are to the contrary."

The Macau government has proposed increased regulatory oversight, including tighter capital controls, and recommended that licensees distribute profits to shareholders only after prior government approval.

Macau will also appoint a government representative to each licensee to "monitor and manage the day-to-day operations and safeguard the interests of society." The entire review process, which began in late September, is expected to take 45 days. In a research note to investors after the conference call, Wieczynski said Las Vegas Sands executives must take a "significant stance" to tell investors why they believe in Macau's future. The company is currently spending a total of $5. 5 billion on upgrading both its Macau and Singapore properties.

"There is still little appetite for Macau-based companies," he said. "Long-term investors will not be looking at these names until there is more clarity on how concession renewals will proceed or the Macau market actually stabilizes and starts to show growth over a long period of time. The problem is that the exact timing of when either of these two events will occur is unpredictable."

Wieczynski said his outlook for Las Vegas Sands is "highly risky," but that it could attract investors with a long time horizon.

Goldstein said the Macau government should value Las Vegas Sands' track record of growth.

"I think the government recognizes that we are a good license and a friend."

March 27, 2021, Marky of Caesters Palace (Jeff Scheid/The Nevada Independent)

Former President GCB won the seat of Caesters Entertainment

Former Nevada Gaming Management Committee Chair Sandra Douglas Morgan spent a busy week.

Three days after becoming a director of the Allzant Airlines, Las Vegas lawyer was appointed director of Casino Caesters Entertainment last Friday.

After the approval of the regulatory authorities, Morgan will be the tenth director of Caesters. This member spent more than 20 years as an executive of Caesers, former Mayor Jean Jeans Black Hurst. Frank Fahrenkov, a veteran insider of Washington D. C. and the first CEO of American gaming associations, a republica n-insider and a republican leader.

"Saizers' Gary Karano chairman of the African American and chairman of the Nevada Gaming Committee," Sandra is rooted in the gaming industry.

Sandra Douglas Morgan, former chairman of the Gaming Management Committee, Nevada. (Photo provided: Nevada Gaming Management Committee)

4 3-yea r-old Morgan has served in legal and governmen t-related positions in MGM Resorts International, North Las Vegas, AT & T. He currently runs his own legal consulting company.

"Her unique perspective, which has demonstrated leadership as a gaming company and government agency lawyer, will help our office continue to move forward as gaming has evolved and grows," said Karano. 。

In July 2020, Morgan presides a special hearing that the Gaming regulation authorities in Nevada approved the acquisition of $ 17. 3 billion between the acquisition Eldorado Resorts and Caesters.

He resigned from the Administration Committee in October 2020, became a director of Fidelity National Financial, and was the chairman of the Special Litigation Committee in Florida. Bill Foley, the majority of Vegas Golden Knights of the National Hockey League, is the chairman of Fidelity.

During his time on the Trustees, Morgan advocated for the passage and implementation of cashless betting regulations and the adoption of regulations to ensure that all Nevada gaming operators have policies prohibiting discrimination and harassment. He also led the gaming industry's response to the COVID-19 pandemic.

Morgan also serves on the board of directors of Serverus Cyber ​​Sentinel Inc.

In a filing with the Securities and Exchange Commission on Friday, Caesars said Morgan, as a non-executive director, will receive "compensation paid to non-executive directors for service on the board and committees." The company did not disclose the amount.

G2E attendees view the Aristocrat Technologies booth on Tuesday, Oct. 5, 2021 (Jeff Scheid/Nevada Independent)

Fitch analysts say G2E is a bright spot for Las Vegas' recovery.

The Global Gaming Expo solidified Fitch Ratings' view that Las Vegas is on the mend. Lead analyst Colin Mansfield and his team walked the trade show floor and found major gaming vendors optimistic heading into 2022.

In an investor report distributed after the three-day conference at the Venetian Expo Convention Center, Mansfield said Fitch remains optimistic that the film will recover to pre-import revenue levels.

"August data confirms that an exponential retreat at pre-franchise levels is unrealistic, but positive trends remain," Mansfield wrote in the report. "Slot volumes remain above 2019 levels, and table declines that had dragged down month-over-month remain just within 2019 distance, both of which are healthy in our view."

In October 2020, Fitch predicted that the nation's largest gaming market would recover slower than expected until 2024. Mansfield revised that outlook in July after World Las Vegas opened to $4. 3 billion. He suggested Las Vegas could return to pre-2019 fantasy levels by 2023.

Fitch gaming analyst Colin Mansfield.

"We are increasingly optimistic about Las Vegas' recovery, driven by strong G2E convention activity and notable leisure demand across the Strip," Mansfield wrote.

According to producer announcements, more than 13. 000 participants in G2E, less than half of 27. 000 in 2019, said Mansfield that there was "overwhelming energy for participants." The G2E in 2020 was canceled due to pandemic, but the organizer of the show held a mock event.

"Every night, a group event was held at a restaurant full, and I was able to see board games being played around the strip district," said Mansfield.

Regarding the production department of slot machines, Mansfield said that game equipment suppliers were trying to use successful games by utilizing them on other platforms and new format players.

"Igaming and Sports Betting are still widespread as vendors adopt a strategy to provide complete suits of products and services on supe r-competitive digital providers," says Mansfield.