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Speaker 1: This is the business of sports where in the situation

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Speaker 1: that we haven't dealt with in modern times, pandemic here

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Speaker 1: has really accelerated the investments that we've been advocating for

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Speaker 1: for years. From a Macrow standpoint, I think our sport

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Speaker 1: industry is really forced to look at the business a

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Speaker 1: little bit differently in depth conversations with the leaders in

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Speaker 1: the sports industry. Who wants to be the sacrificial lambs

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Speaker 1: that shows up at the first big major sporting event,

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Speaker 1: were part of something much bigger than the sport right

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Speaker 1: now and the health and day of our stakeholders that

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Speaker 1: works much important every moment. I think we're all from

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Speaker 1: the business respective thinking about the impact that the virus

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Speaker 1: is having on across the country against Bloomberg Business of

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Speaker 1: Sports from Bloomberg Radio. Hello, I'm Jason Kelly and Mike

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Speaker 1: Lynch and I'm Michael Barr, And this is the Bloomberg

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Speaker 1: Business of Sports podcast where we explore the big money

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Speaker 1: issues in the world of sports. And today we're excited

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Speaker 1: to be joined by Derek Stevens. He's the owner and

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Speaker 1: CEO of the d Las Vegas Golden Gate Hotel and

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Speaker 1: Casino and the soon two debut talking about just days

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Speaker 1: from now the Circle Resort and casino. It's built as

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Speaker 1: the world's largest sports books, So a timely, an important conversation.

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Speaker 1: We know our audience is looking forward to this. Derek,

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Speaker 1: thank you so much for joining us from Vegas. Yeah,

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Speaker 1: thank you, Thank you guys for having me on. So

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Speaker 1: let me start by asking you, basically what we ask

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Speaker 1: everybody that comes on this show. What's your life like

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Speaker 1: right now? What is it like in Vegas? You know,

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Speaker 1: we're all sort of on the outside looking in, but

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Speaker 1: it feels like, as the economists say, some real kind

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Speaker 1: of green shoots there in Vegas. Yeah, you know, I

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Speaker 1: think I think you know, when we reopened, it was

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Speaker 1: June fourth, and you know, since then, we've had a

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Speaker 1: few additional governor related directives that we've made some adjustments with.

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Speaker 1: But I think in Las Vegas, what you're seeing is,

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Speaker 1: particularly in the last month or so, we're seeing more

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Speaker 1: people come back to visit, more people want to get

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Speaker 1: out of the house. I think that people have come

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Speaker 1: to realize that if you do get out of the house,

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Speaker 1: Las Vegas is a pretty safe place. Uh, you know,

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Speaker 1: you can't go go more than twenty ft inside of

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Speaker 1: a casino without a hand sanitizing station, and you know,

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Speaker 1: I think, I think, um, the culture on the country

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Speaker 1: has changed a little bit. You know, when we opened

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Speaker 1: in June there, we opened without masks, and then later

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Speaker 1: in June masks were required, and that was a little

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Speaker 1: bit tough initially, but now it's not a big deal.

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Speaker 1: I mean, I think everyone everyone's very a customed to it.

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Speaker 1: So I think what we're doing is keeping everybody safe

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Speaker 1: and alone people who go out and have a little

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Speaker 1: bit of fun. You guys opened the Circuit Resort and

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Speaker 1: Casino Octo, uh, and that is all set now. Back

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Speaker 1: in the day they used to do dry runs. I

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Speaker 1: don't know now if you guys done a dry run

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Speaker 1: with that and and what happens, that's a great question.

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Speaker 1: We're doing. We're doing our first one Thursday night, and

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Speaker 1: then we're doing our second and last one on Sunday afternoon.

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Speaker 1: So we've got to uh two of these play dates

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Speaker 1: or dry runs as you call them, uh coming up here.

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Speaker 1: So we're we're within just a few hours of of

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Speaker 1: of testing everything. So we're we're getting ready. Derek, tell

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Speaker 1: me about the sports book that you have. I'm reading

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Speaker 1: the plans about it just seems absolutely fascinating and almost

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Speaker 1: irresistible if if you make the trip out to Vegas. Yeah,

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Speaker 1: you know, I I thought that. You know, I've always

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Speaker 1: been a big sports fan, and uh, you know, I came.

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Speaker 1: I came to Vegas for a lot of reasons, for business,

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Speaker 1: for pleasure. I'm a big boxing fan and uh and

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Speaker 1: and you know, I've spent a lot of a lot

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Speaker 1: of days and a lot of nights in sports books

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Speaker 1: throughout the years. And you know, when we had an

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Speaker 1: opportunity to build one ourselves, um we uh, we went

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Speaker 1: out and we really tried to take uh you know,

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Speaker 1: some of the best ideas from from multiple places, and

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Speaker 1: uh yeah, this will be uh the sports book in circle.

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Speaker 1: It will be the world's largest sports book. Three three

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Speaker 1: full stories, uh you know, tiered seating, and um, you

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Speaker 1: know the screen, she's a majestic beauty. I can tell

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Speaker 1: you that world's biggest screen, the whole deal. So we've

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Speaker 1: got we've got a great setup. So if you're if

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Speaker 1: you've got some of your listeners that are interested in

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Speaker 1: coming out and watching all the games, they'll all beyond

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Speaker 1: because it's a it's it's something pretty special so I

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Speaker 1: want to talk about recent history if we can in

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Speaker 1: a few minutes, Derek, but I want to take you

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Speaker 1: back a little way is not to play too much

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Speaker 1: of this is your life, but talk to us about

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Speaker 1: getting to Vegas, really moving to Vegas with your first investment,

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Speaker 1: you know, fourteen years ago, I believe it was. It

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Speaker 1: was a different town then, and obviously the intervening years

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Speaker 1: have been up and down from an economic perspective, for sure.

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Speaker 1: I mean when you arrived, the world was in a

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Speaker 1: different place, the country was in a different place. So

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Speaker 1: sort of walk us through the evolution of your business

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Speaker 1: model and how you have sort of created that and

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Speaker 1: evolved it over the years. Sure. Yeah. When I came

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Speaker 1: to Las Vegas in two thousand and six, I mean

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Speaker 1: one of my primary motivations was moving my investment portfolio

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Speaker 1: that I that I managed out out to Las Vegas.

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Speaker 1: And you know, Nevada is very pro business, no income tax,

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Speaker 1: no stated income tax, so it's a better environment for

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Speaker 1: me to run our investment portfolio. But for myself personally

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Speaker 1: and my brother, we're operators, so we had an opportunity

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Speaker 1: to purchase the Golden Gate Hotel and Casino. It's kind

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Speaker 1: of cool about this is to address is one three

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Speaker 1: Month Street. It's actually the very first building in the

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Speaker 1: history of Vegas, thirty years before gambling came around, and

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Speaker 1: UH purchased at and an opportunity to kind of cut

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Speaker 1: my teeth in uh in the various divisions, you know,

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Speaker 1: in the food beverage areas and the table slots, and

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Speaker 1: then eventually into sports. So it was it was my first,

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Speaker 1: my first investment here in Vegas. And uh, what's what's

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Speaker 1: kind of cool now is it's directly across the street

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Speaker 1: from where circus opening, so it's only a hundred feet away.

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Speaker 1: But but yeah, I moved out. Really an investment portfolio

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Speaker 1: was a key thing, and then uh in managing the

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Speaker 1: small business and then kind of growing it from there.

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Speaker 1: Was was my my initial, my initial a few years

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Speaker 1: out here. I know you wish you were open on Sunday,

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Speaker 1: especially for the New England Denver game, because I know

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Speaker 1: a lot of people at the casino side made a

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Speaker 1: lot of money off of that game. New England lost

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Speaker 1: the Denver eighteen twelve and somebody's got to set the

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Speaker 1: line for that. So if you can take us through

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Speaker 1: the process of how a sports book sets the line

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Speaker 1: not only for the NFL, but for for any major sport. Yeah. Absolutely.

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Speaker 1: You know. Our our guys are sports book director. His

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Speaker 1: name was Matt Metcalfe. UM, he's in our risk room

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Speaker 1: and and UM last year Circus sports UM really became

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Speaker 1: the worldwide leader in setting the college football line. And

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Speaker 1: and what that means is you take a handful of

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Speaker 1: guys that have have opinions and they basically hash it out.

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Speaker 1: They all use their power rankings and they come up

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Speaker 1: with the number. So like, for example, next week, Big

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Speaker 1: ten Stars. So let's just say Michigan's playing Minnesota. You

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Speaker 1: take the three three UH three top power rankings, you

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Speaker 1: try to evaluate that, then you try to figure out

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Speaker 1: some public sentiment, and then you come up with the number.

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Speaker 1: And then really what we do is we put the

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Speaker 1: we post the number, and for a period of a

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Speaker 1: couple of hours, the the UH. The betting limits are

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Speaker 1: rather small and and every hour that goes by, the

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Speaker 1: limits get a little bit bigger until you feel that

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Speaker 1: you've reached the market equilibrium level for the line. So

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Speaker 1: that's kind of how it starts and how it works

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Speaker 1: works this way to UH to the number that has

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Speaker 1: posted for everybody to take a shot at. Sorry, Lynchia,

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Speaker 1: I didn't mean to rub an inn about the Patriots

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Speaker 1: that really helped me in a lot in my Survivor

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Speaker 1: pool Man, people got knocked out. I'm sorry. I should

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Speaker 1: I said the quiet part out loud again. I'm sorry,

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Speaker 1: And we all know that Michael, that was a personal

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Speaker 1: question for him. How they set the line, Yeah, exactly,

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Speaker 1: asking for a friend, that's Michael. I got a pencil

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Speaker 1: right here, man. Uh Derek, obviously the big elephant in

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Speaker 1: the room in your business is the states that are

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Speaker 1: legalizing gambling. Now, I'm sure everyone of your business has

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Speaker 1: seen this coming for years. How have you prepared for it?

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Speaker 1: How do you combat it? And how do you overcome it? Well,

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Speaker 1: I would tell you in your last couple of comments,

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Speaker 1: I don't I don't think we're combating anything. I don't

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Speaker 1: think we want to overcome anything. Um. You know right now,

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Speaker 1: um sports wagering is legal in nineteen states and moral

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Speaker 1: becoming in uh in and and there's really a couple

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Speaker 1: of couple of elements here. First, the more states that

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Speaker 1: allow legalized sports wagering, we feel, we feel that that's

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Speaker 1: great for our brick and mortar model out in Las Vegas.

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Speaker 1: And what I mean by that is a lot of

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Speaker 1: the people that are that are downloading their apps and

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Speaker 1: whatever state they live in, well, some of those people

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Speaker 1: come to Vegas and when they do, they're all gonna

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Speaker 1: want to come and come and check out the world's

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Speaker 1: largest sports book. So we are we are very very

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Speaker 1: much in support of h of UM increased legal UM

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Speaker 1: sports wagering throughout the country. Number two, Circus Sports is

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Speaker 1: also UM an app that you can get in other areas. Currently,

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Speaker 1: you know, you can use our app anywhere in the

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Speaker 1: state of Nevada. We we were licensed in the state

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Speaker 1: of Colorado a few months ago, so we're up in

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Speaker 1: Colorado and we're actively looking at additional states to UH

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Speaker 1: to bring the Circus Sports app to to those customers

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Speaker 1: in those states. And how have you seen the technology

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Speaker 1: in the app side really evolved? Me? And you think

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Speaker 1: about what has changed since that fateful reload that you

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Speaker 1: made back in in UH back fourteen years ago. Uh, Derek,

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Speaker 1: I mean it's boomed, and I feel like especially it's

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Speaker 1: boomed during the pandemic, especially when sports we're back up

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Speaker 1: and running. How do you assess the competitive landscape? Yeah,

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Speaker 1: I mean I think you know, that's that's the one

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Speaker 1: thing that that uh definitely evolved and evolved more quickly

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Speaker 1: during uh during the summer and spring and summer, like

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Speaker 1: a lot of things with technology, I mean, we really

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Speaker 1: accelerated the learning curve and and uh really led by,

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Speaker 1: you know, in sports wagering. Um, the sports wagering area

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Speaker 1: really led by initially uh UFC, and then NASCAR and

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Speaker 1: Gulf jumped into it. UM that really, uh that really

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Speaker 1: got people really excited because from a social distancing perspective, UM,

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Speaker 1: betting on your phone is a great, great thing to do.

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Speaker 1: You know, by the time baseball came back at the

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Speaker 1: end of July, that was that was great. And then

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Speaker 1: really you know, August September and you know, so far,

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Speaker 1: the first couple of weeks of October, I mean, the

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Speaker 1: sports wagering numbers are are are up so dramatically. We um,

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Speaker 1: you know, we're not limited because we're privately held companies,

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Speaker 1: so I don't have quiet periods. But you know, we

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Speaker 1: we uh, we had some projections on what we thought

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Speaker 1: this football season was gonna was gonna look like. And uh, um,

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Speaker 1: you know, we thought we were being pretty aggressive about it.

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Speaker 1: But these numbers are really kind of blowing us away.

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Speaker 1: The demand for sports wagering is uh is strong, and

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Speaker 1: it is growing. I mean, it helps you, it helps

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Speaker 1: you kind of understand some of the valuations you're seeing

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Speaker 1: in some of the publicly traded companies in this space. Now,

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Speaker 1: this isn't a normal sports year, especially for the sports

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Speaker 1: books because if you NFL obviously is king, but during

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Speaker 1: this time, in a normal period, you'd either have also

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Speaker 1: an NHL game or an NBA game, and then everything overlaps,

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Speaker 1: and then you have baseball coming uh in the spring,

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Speaker 1: so everything was overlapping. But now because of well the

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Speaker 1: World Series, will is coming up. But I'm just wondering

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Speaker 1: if a lot of people out there are betting on

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Speaker 1: soccer now, because that's something that's continuing. Oh yeah, you know,

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Speaker 1: there's no question, Uh, the soccer wagering is something that

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Speaker 1: that that they've really got the benefit of a lot

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Speaker 1: of a lot of these leagues not not posted games.

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Speaker 1: So there's a significant growth in soccer wagering that we've

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Speaker 1: seen over the course of the last few months. Um

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Speaker 1: that that was definitely a sport that that picked up

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Speaker 1: picked up some new customers. Um, you know based upon

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Speaker 1: how played out with with your app, do you actually

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Speaker 1: physically have to be in a state that has legalized

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Speaker 1: gambling or do you have to be in Nevada or

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Speaker 1: Colorado in other words, Rhode Island other than in New England,

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Speaker 1: New Hampshire and Rhode Island. If I drive into New Hampshire,

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Speaker 1: can I use your app? Yeah? Great question, Um you

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Speaker 1: know what the and the answer is is, uh, it

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Speaker 1: really depends upon the state. So for example, in the

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Speaker 1: state of Nevada, you have to sign up with your

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Speaker 1: app at one of our at one of our casinos,

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Speaker 1: um and that's where you have to make your initial

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Speaker 1: deposit as well, and then you can you can use

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Speaker 1: your phone. You can use the Circus Sports app anywhere

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Speaker 1: within the state of Nevada. Youve got to be in

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Speaker 1: the state to make a wager. Colorado is a little

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Speaker 1: bit different. Colorado is a state that that utilizes remote

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Speaker 1: registration and remote funding. It's it's it's the most progressive

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Speaker 1: of all the states. So you can be sitting at

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Speaker 1: home and download the Circus Sports Colorado app and then

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Speaker 1: you just have to take a picture of your driver's license.

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Speaker 1: It gets verified with it about fifteen seconds. And then

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Speaker 1: you have the ability to fund your account through any

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Speaker 1: method you want, through a wire transfer, through an a

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Speaker 1: c you can use your you can use your credit

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Speaker 1: card just to just to fund it. So Colorado is

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Speaker 1: the most progressive of all the states. So so to

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Speaker 1: answer your question is each state is different and uh,

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Speaker 1: and they continue to come out in a different manner,

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Speaker 1: so that that's kind of it plays out. And so, Derek,

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Speaker 1: how do you get involved with the general push among

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Speaker 1: casino operators and sports book especially online sports book operators

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Speaker 1: to push for more legalization and and and how to

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Speaker 1: on a state by state basis and where does that

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Speaker 1: sit right now? And you know politics are involved, both

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Speaker 1: on the state and federal and local level. Walk us

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Speaker 1: through how you see that evolving over the next couple

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Speaker 1: of years. Yeah, I think I think what we're going

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Speaker 1: to see, I mean, particularly you know, after what's happened

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Speaker 1: in I mean, states are gonna be um a little

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Speaker 1: bit more aggressive than looking for um alternate revenue. Yeah,

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Speaker 1: because they're sorry to interrupt you, I mean you've got massive,

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Speaker 1: massive revenue shortfalls in so many states owing to COVID, right, Yeah,

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Speaker 1: I mean I mean because of COVID, I mean everything.

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Speaker 1: Every state is going to be way out of way

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Speaker 1: out of what they projected on their budget for. And

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Speaker 1: I think I think there's just a natural, um, a

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Speaker 1: natural push now on states that don't have legal uh

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Speaker 1: legal sports wagering that that it's gonna it's gonna move forward.

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Speaker 1: I mean, I think you're gonna see Ohio's gonna be

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Speaker 1: not too far down the road. I think you're gonna

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Speaker 1: see some of the changing regulations in Michigan. I think

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Speaker 1: Montana is gonna update some of the rules and REGs.

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Speaker 1: And then I think, I think you've got about six

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Speaker 1: or seven other states that are you know, in we

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Speaker 1: then their legislatures are kind of working their way through

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Speaker 1: it because because this is a service, this is a

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Speaker 1: product that people want and and it's safe and and

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Speaker 1: I think, you know, for for people in many states,

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Speaker 1: they're really pushing their legislatures to to uh to get

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Speaker 1: moving and not get left behind. We had talked earlier

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Speaker 1: with another guest and we were talking about how the

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Speaker 1: good old corner bookie is not going to go out

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Speaker 1: of business, and for one simple reason, because the bookie

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Speaker 1: will give you credit. And I'm wondering, one day will

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Speaker 1: sports books get into something like that and offer credit

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Speaker 1: to the players. Well yeah, I mean, I mean Circus

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Speaker 1: Sports does right now. So if you walk up to

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Speaker 1: walk up to UH to counter at the d Las

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Speaker 1: Vegas or the Golden Gate or circuit, you just get

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Speaker 1: a credit manager. They'll be able to help you fill

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Speaker 1: out fill out a credit application. So that's that's evolving

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Speaker 1: really as we speak, right you know, right now, I think, UM,

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Speaker 1: I think you're right though. I think the quarterbook is

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Speaker 1: gonna do okay, UM, And I think there's a lot

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Speaker 1: of reasons, a lot of reasons for that. UM. Let

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Speaker 1: me just take give you an example. I mean, the

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Speaker 1: quarter bookie in UH in Chicago or anywhere in the

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Speaker 1: state of Illinois, UM doesn't have a whole lot to

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Speaker 1: worry about. The way they you know, Illinois set up

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Speaker 1: their their regulations and their tax basis, it doesn't really

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Speaker 1: allow for um, a legal sports book to be very competitive.

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Speaker 1: So the UH, the illegal bookie is going to do

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Speaker 1: just find in Illinois, UM, because just because with with

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Speaker 1: the reg Illinois set up, you're just not going to

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Speaker 1: get that much that much plays as what you would

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Speaker 1: in some of the other states. Of course, I was

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Speaker 1: asking the bookie question for a friend. You're going to

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Speaker 1: have such a well informed friends. Really, it's really amazing.

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Speaker 1: You're so generous. I'm going to give him a generous guy. Hey, Derek,

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Speaker 1: since you're reopened in June, how is the Is the

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Speaker 1: foot traffic increased as it decreased? Has it been flat?

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Speaker 1: How was how is it? You know since June we've

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Speaker 1: had it's. Uh, it's been many different different scenarios. So

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Speaker 1: i'd say, you know, the first ten days, there's a

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Speaker 1: little bit of euphoria. Um, the places were very packed. UM.

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Speaker 1: A few weeks later, you know, we had a regulation

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Speaker 1: where where everyone had to wear masks. And like I said,

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Speaker 1: now now it doesn't seem like that big of a deal,

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Speaker 1: but but at that point in time, UM, it was

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Speaker 1: a big deal. And and it was difficult to implement

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Speaker 1: because there were an awful lot of people that didn't

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Speaker 1: want to want to wear a mask. And we're we're

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Speaker 1: willing to become aggressive about it. But but I think

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Speaker 1: we've gotten past that. UM. I would say that that,

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Speaker 1: you know, throughout the rest of the summer, because there's

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Speaker 1: there's so much concern from the airline industry and people

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Speaker 1: having a reluctance to fly. We saw, you know, a

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Speaker 1: mixed change where Vegas became more of a drive in market. Um.

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Speaker 1: You know, at my casinos, at the at the d

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Speaker 1: Las Vegas and Golden Gate, our our our main customer

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Speaker 1: base is Midwestern base, So it's Michigan, Ohio, Indiana, Wisconsin,

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Speaker 1: Minnesota that that's really our our bread and butter in

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Speaker 1: And when people are afraid to get an airplane, well

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Speaker 1: that's tough. So from from the casino management business, that

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Speaker 1: means you have to go out and you have to

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Speaker 1: start marketing to people that are able to drive into town.

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Speaker 1: So there's a little bit of of a mixed change there. Um.

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Speaker 1: I would tell you though, in the last few weeks,

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Speaker 1: I think, uh, you're starting to see more and more

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Speaker 1: people fly into McCarron Airport and and pretty clearly, pretty

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Speaker 1: clearly the the the further domestic travelers, it's pretty noticeable

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Speaker 1: that they're they're showing up now. And So Derek, before

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Speaker 1: we let you go, gotta ask you about downtown Vegas

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Speaker 1: that you know, all of us have been to Las

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Speaker 1: Vegas numerous times. We've sort of seen over the course

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Speaker 1: of history, downtown sort of eban flow certainly seems like

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Speaker 1: it's coming up. The last time I was there maybe

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Speaker 1: eighteen months two years ago, definitely bumping, as the kids say.

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Speaker 1: And certainly the debut of Circu is only going to

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Speaker 1: to help that. Uh. Talk to us about that and

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Speaker 1: and what you see as the future of downtown. Yeah,

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Speaker 1: I mean when you look at two thousand nineteen, I

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Speaker 1: mean Downtown Vegas, you know, three month Street really amazing

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Speaker 1: on the visitation, the uh, the quantity of people in

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Speaker 1: twenty four million people that visited Downtown Vegas, so the

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Speaker 1: second most visited tourist destination in America. So I think

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Speaker 1: I think there's a certain element where where people that

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Speaker 1: come to Las Vegas kind of downtown as as part

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Speaker 1: of their uh must must see list or must do list,

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Speaker 1: and uh, and I think that you know that's going

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Speaker 1: to continue on. I mean we're we're noticing it right now.

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Speaker 1: I mean, the crowds are are are socially distanced, but

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Speaker 1: but but in some ways the places are packed. I

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Speaker 1: mean everybody's coming out, everybody's wearing masks, and and you know,

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Speaker 1: I'm excited about having this investment in downtown Las Vegas.

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Speaker 1: I Uh, I probably wouldn't have done an investment of

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Speaker 1: the size and scope of what circle is um elsewhere.

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Speaker 1: It's just this was the right location and uh and

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Speaker 1: the right time. So I'm I'm excited about open this

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Speaker 1: up next week. And so what was that if I

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Speaker 1: made following that, like, what was the tipping point do

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Speaker 1: you think for for downtown? Because you know, we're probably

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Speaker 1: having a different conversation and you would obviously know it

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Speaker 1: far better than I. At different conversation, you might have

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Speaker 1: a different investment thesis ten years ago. What what do

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Speaker 1: you think was the what was the point where downtown

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Speaker 1: really became much more of a destination Again, Well, I

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Speaker 1: think I think one of the things that that really

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Speaker 1: happened was the fact that that you didn't have to um,

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Speaker 1: stay in the hotel room in downtown to uh to

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Speaker 1: to enjoy it. What do I mean by that? There's

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Speaker 1: only six thousand hotel rooms in downtown Las Vegas. Do

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Speaker 1: you multiplied that by three six five days a year?

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Speaker 1: It's only two million room nights, but we're doing twenty

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Speaker 1: four million visitors. I really think that what happened was

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Speaker 1: you have a little bit more of an urbanization happening.

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Speaker 1: You've got younger people wanted to that wanted to move downtown.

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Speaker 1: You've got ride cheering. Um, no one wants to drink

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Speaker 1: and drive, but but everybody likes to have a drink.

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Speaker 1: So this became a really really hot, hot destination for

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Speaker 1: people to come out and get a good meal, maybe

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Speaker 1: have have have a little bit of fun on the

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Speaker 1: tables and slots and things like that, get some drinks

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Speaker 1: and then uh and then you know, then you have

404
00:22:03,480 --> 00:22:05,160
Speaker 1: your uber, your lift to people to take you home

405
00:22:05,280 --> 00:22:07,199
Speaker 1: or take you back to your other hotels. So I

406
00:22:07,240 --> 00:22:08,879
Speaker 1: really think it was a combination of some of the

407
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Speaker 1: rides sharing and um and and the fact that that

408
00:22:13,119 --> 00:22:17,200
Speaker 1: people really enjoy, you know, hanging out in an outdoor

409
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Speaker 1: bar district where you kind of walk from casino to

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Speaker 1: casino and uh and and and enjoy all the free entertainment.

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Speaker 1: Which brings me to the last point that I wanted

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Speaker 1: to make, which is I I insisted to myself that

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Speaker 1: we get in this in the garage. Mahal tell us

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Speaker 1: about the Yeah, you know, I've I've been actually you know,

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Speaker 1: for people that I've been heading around for ten years,

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Speaker 1: I've been lamented. You know, this doesn't really even have

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Speaker 1: to do just with hotels and casinos. But I always wondered,

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Speaker 1: why do garage is have to be so dirty and

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Speaker 1: so dimly lit and so cold and dark, and you know,

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Speaker 1: and and and and provide you that feeling of it

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Speaker 1: being unsafe. I just never thought that that was a

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Speaker 1: required And uh, you know, garage Mah Hall is something

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Speaker 1: we're gonna do where we're really it's a it's a

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Speaker 1: transportation hub. I mean, the entire first floor is just

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Speaker 1: really made for ride cheering, whether it's Uber lift or

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Speaker 1: or limos or cabs things like that. So we try

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00:23:15,000 --> 00:23:18,560
Speaker 1: to design something that was the easiest um venue to

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00:23:18,600 --> 00:23:21,159
Speaker 1: get in and out of and and and that includes

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Speaker 1: all that we get into, the highways on and off

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00:23:22,760 --> 00:23:26,080
Speaker 1: ramps and things like that. And then what we what

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00:23:26,080 --> 00:23:27,800
Speaker 1: we did is we kind of spruce it up where

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00:23:27,800 --> 00:23:30,920
Speaker 1: we added some music, some great lighting, a lot of art.

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00:23:31,400 --> 00:23:34,840
Speaker 1: Uh and you know, concierge is on different levels and

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00:23:34,840 --> 00:23:38,600
Speaker 1: and uh, we wanted to create a really really upbeat spot.

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00:23:38,680 --> 00:23:41,080
Speaker 1: Is our is our kind of our main entrance. And

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00:23:41,080 --> 00:23:43,359
Speaker 1: and I just thought I didn't want anybody ever to

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00:23:43,359 --> 00:23:45,880
Speaker 1: call it a parking garage because this is so much more.

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00:23:46,160 --> 00:23:47,720
Speaker 1: That's why we wanted to name it. And I just

439
00:23:47,760 --> 00:23:50,400
Speaker 1: thought garage Ma Hall was the was the perfect name

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00:23:50,440 --> 00:23:53,800
Speaker 1: for this stuff, for this destination. Well well done. I'm

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00:23:53,840 --> 00:23:55,800
Speaker 1: so glad we got to discuss that because that was

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00:23:55,840 --> 00:23:59,080
Speaker 1: my favorite thing of all of the all the research

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00:23:59,160 --> 00:24:02,240
Speaker 1: and getting to this conversation. Derek Stevens, best of luck

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00:24:02,280 --> 00:24:04,320
Speaker 1: to you, owner and CEO of the d Las Vegas

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00:24:04,400 --> 00:24:08,359
Speaker 1: Golden Gate Hotel and Casino, the Downtown Las Vegas Events Center,

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00:24:08,440 --> 00:24:13,119
Speaker 1: and maybe most importantly, the Soonto Debut circa resort and

447
00:24:13,200 --> 00:24:17,280
Speaker 1: casino featuring the aforementioned garage Mahal. Best of luck. Keep

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00:24:17,359 --> 00:24:19,760
Speaker 1: us posted on on how it all goes. We're eager

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00:24:19,880 --> 00:24:23,400
Speaker 1: to hear more about your success in the future. Derek. Alright, thanks,

450
00:24:23,680 --> 00:24:26,199
Speaker 1: thanks to talk to you guys, Thank you, thank you.

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00:24:26,359 --> 00:24:29,080
Speaker 1: By the way, Derek, are you is your app in Pennsylvania?

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00:24:29,400 --> 00:24:33,240
Speaker 1: Just for a frint, Not currently in Pennsylvania. We're currently

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00:24:33,240 --> 00:24:37,240
Speaker 1: in Nevada and we are in all right. Well, you

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00:24:37,320 --> 00:24:40,080
Speaker 1: got your first customer lined up when you get to Pennsylvania.

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00:24:40,840 --> 00:24:46,439
Speaker 1: All right. Well. Thanks. This is the Bloomberg Business of

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00:24:46,440 --> 00:24:49,280
Speaker 1: Sports podcast. I'm Michael Barr along with Mike Lynch and

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00:24:49,359 --> 00:24:52,119
Speaker 1: Jason Kelly, and we're here each and every Monday, Wednesday

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00:24:52,119 --> 00:24:55,200
Speaker 1: and Thursday, exploring the world of money and sports. Join

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00:24:55,280 --> 00:24:58,119
Speaker 1: us again at the end of the week. Lots of

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00:24:58,119 --> 00:25:01,080
Speaker 1: great conversations to come, a lot happening eyes in the

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00:25:01,119 --> 00:25:04,040
Speaker 1: world of sports. Oh yeah, you're listening to Bloomberg Business

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00:25:04,080 --> 00:25:06,760
Speaker 1: of Sports on Bloomberg Radio around the world and online

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00:25:06,800 --> 00:25:13,920
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