Revenues on the Boardwalk jumped 8% last month from July 2021, reaching $299 million on the nose. Slot winnings were good, up 5.5% on 6.5% more coin-in but table win was even better, growing 16% on only 4% higher wagering. Surging 20%, Borgata was way out in front with $77 million. Hard Rock Atlantic City leapt 11% to $53 million, while Ocean Casino Resort catapulted 33% to $40.5 million. Rebranding and renovation helped Bally’s Atlantic City, the only other revenue-positive casino, climb up 3.5% to $17 million. Last place went to Golden Nugget, down 7% to $14.5 million. Strongest of the Caesars Entertainment properties was Tropicana Atlantic City with $28 million (-5.5%). Despite a 9% decline, Harrah’s Resort came in next with $26.5 million, then Caesars Atlantic City with $25 million (-3%). Rounding out the picture was Resorts Atlantic City‘s $18 million, down 2%.
Sports betting win was anemic, year/year, down 18% to $45 million on handle of $532 million. $22 million of win went to FanDuel, $8 million to DraftKings and $4.5 million to BetMGM. Caesars Sportsbook was close behind with $4 million but Barstool Sports barely registered with its $500K. Internet gambling generated a healthy $137 million, divvied up between BetMGM (31.5% of market share), Golden Nugget Online (25%), Resorts Digital (22%), Caesars (12%), Hard Rock (4%), Bally’s (3%) and Ocean (2%).
A vacuum-cleaner-style surveillance operation on Wikileaks founder Julian Assange has backfired into a lawsuit against former secretary of state Mike Pompeo and the CIA. It also has metaphorically exhumed Sheldon Adelson. The deceased doge of Venelazzo stands accused of playing matchmaker between Spanish surveillance firm Undercover Global and the CIA. Adelson was already chummy with Undercover Global because its head “had routinely provided private security work for [Adelson] and his family on trips through Europe.” Undercover Global infiltrated the embassy of Ecuador in London, where Assange was holed up, and allegedly installed recording devices on behalf of “American friends.” Those friends were The Company, which reportedly received a steady stream of private information on Assange, courtesy of Adelson’s Spanish pals.
Sheldon is not the only gaming mogul involved in l’affaire Assange. The prisoner’s allies include former Crown Resorts boss James Packer, who has donated $174,000 to “Free Julian Assange.” And if it can be proven that Donald Trump had knowledge of Pompeo’s spy network, a third ex-gaming bigwig can be added to the mix. Industry stories like this don’t come along every day.
Slot routes in Illinois continued to outpace casinos, grossing $226 million, up 1% from last year. J&J Ventures edged the competition with $69.5 million, up 4.5%, pursued by Accel Entertainment with $65 million, up 2%. Rick Heidner‘s Gold Rush Entertainment gained the most, 9%, finishing with $22.5 million. Penn Entertainment subsidiary Laettner Entertainment slipped 6% to $4 million. Also in contention were Prairie State Gaming ($11 million, -6%), Gaming & Entertainment Management ($8 million, -2%), Midwest Electronics Gaming ($6 million, flat) and sundry other operators who policed up the remaining $40 million.
The Colorado River is becoming virtually nonexistent but please resist the temptation to blame Las Vegas and Big Gaming. Agriculture is the culprit, as attested to by an 8% reduction in Nevada‘s allotment of water—but 21% less for Arizona. Writes the Boston Globe‘s Teresa Hanafin, “The poor Colorado River has been dammed, diverted, exploited, overused, and manipulated for more than a century just to quench the thirst of millions of Americans who decided it was a good idea to live in a desert and have pools and fountains and lawns … Add in a 23-year drought, and the river doesn’t seem to stand a chance of survival.” The two main reservoirs—Lake Mead and Lake Powell—are at 27% and 26% of capacity already. The aforementioned water-use cuts came down from Washington, D.C., because the affected states couldn’t get their act together and propose voluntary reductions. California escaped the feds’ wrath.
Great Basin Water Network Executive Director Kyle Roerink put the matter pithily to the Los Angeles Times: “it’s like the kids are not playing well in the sandbox together. And we always hear about these notions of everybody singing Kumbaya and the collaboration is so wonderful and so great. How many times have we heard that, but really what’s happening is they’re sharpening their knives?” Added Center for Biological Diversity co-founder Robin Silver, “This is the desert. It’s time to grow up.”
Finally, a reason to visit cavernous, sepulchral Crystals at CityCenter: A permanent exhibition is planned called Princess Diana: A Tribute. We are assured that it “has been designed to transport visitors effortlessly into the life of world-famous royalty through the designer fashions, personal effects and historic items of the ‘People’s Princess’ and family and friends important in her life.” Some of the profits will go to help fight breast cancer. Exhibits will go back to Queen Victoria‘s reign and forward to the days of Kate Middleton. Said SBX Group President L. David Dube, “Diana’s legacy endures to this day. Her global impact continues to grow as time passes, whether it’s her incredible fashion sense that has had a timeless influence on style, her trailblazing approach to balancing being a mother first and a global icon second or her willingness to define inclusiveness with her actions, her outreach and her personal touch. These qualities have formed this beloved royal person who continues to inspire us today.” No opening date has been announced.
Quote of the Day: “You can start late, look different, be uncertain and still succeed.”—Misty Copeland.
So you go visit Julian Assange in exile… What do you exactly expect? Of course the US Government is going to examine you as far as they can. Assange worked with Russian Intelligence, and lied about it serially. I personally think Pompeo is terrible, he used State Department employee’s to go pick up his dry cleaning and walk his dog, but here he is just doing his job. Want to keep your phone from scrutiny, perhaps you should not go visit the most wanted man…