The employees are leaving the ship

Implications: Columbia Sussex has taken over the Aztar properties and, specifically what happens in Vegas and Atlantic City impacts the whole market.

Analysis: If you take a close look at the two main Aztar properties (Las Vegas and Atlantic city) you will notice that their staffing levels are way down. I toured both properties and customers were upset at the lack of employee service. In addition, some of the key upper management personnel have bailed or are ready to bail out. Specifically, Finance and Human Resource people have left both properties. Employee morale is at an all time low and that is difficult because it was never exceptionally high in LV due to its limited profitability.                                                                                    

In any event, it will bear watching how the two properties respond, in LV we may never know exactly, but watch the monthly AC slots and table games numbers. See if the Trop moves up or down in the market and its year over year gain/loss compared to the balance of the market. I wish them luck, as we all wish to see the properties do well.