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The barge functioned as an intimate stage graced by legendary performers, including Dionne Warwick, Blues Traveler, Matt Goss, and CeeLo Green. Its final performer was another Vegas icon rumored to be powered by hydraulics: Wayne Newton. His “Up Close & Personal” residency in 2019 was the lounge’s final act before the pandemic shut down the Strip for 90 days and closed Cleopatra’s Barge for good in March 2020.
The lounge enjoyed one last moment in the spotlight in 2022, however, when Adele—on the eve of the debut of her long-delayed residency at the Colosseum—tweeted a photo of herself goofing around nervously on its abandoned deck.
The Cleopatra statue itself was removed to storage in late 2023, as the space was transformed into today’s Caspian’s Caviar and Cocktails.
About eScratchCard-WAEC,NECO,NABTEB
Frank Fantini, founder and publisher emeritus of Eilers-Fantini, thinks the change began before Covid. “There is a tendency to look at the world as pre-Covid and post-Covid,” he says. “But the decline in gaming began earlier than that with the slowdown in new jurisdictions and new projects.”
The US land-based casino market had begun to mature and the number of obvious new markets and projects was shrinking. Online gambling offered a new source of growth, particularly through the expansion of legal sports betting. That opportunity was quickly reflected in share prices.
The problem is that legalisation has not happened as quickly as expected, while taxes and competition have increased. “Online gaming has been affected by the broader re-rating of growth-oriented internet and software stocks,” says Chad Beynon, managing director and head of US research at Macquarie Capital. “But there has also been a genuine deterioration in expectations for parts of the sector.”
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But he acknowledges the possibility that faster customer losses could eventually test the sustainability of the model.
“They lose quicker, dry up quicker, recruitment or re-recruitment,” he says. “If the recruitment of players dries up, then what are you going to do? Definitely there can be components like that.”
For now, the growth provides room for multiple market makers. Marantelli expects margins to “stay good during the growth period” before contracting as competition intensifies. The more complex RFQ and parlay markets may offer the best protection against that compression.
