It took a while but the Boardwalk is finally even with 2019 numbers. July saw a gambling gross of $277 million, flat with two years ago. Slot win was up 6% on 2% more coin-in but tables declined 14% on only 3% less wagering. Luck was not with the house. That was especially true of Borgata ($64 million), which absorbed a body blow in the form of a 21% decline, driven by a near-cataclysmic 46% plunge in table win on 27% less play. Tighter hold held Borgata slots to only a 6% dip despite 14% less coin-in. The Caesars Entertainment Cerberus was 1% up, with table win 4% higher on 7% greater wagering, while slots were flat (and much tighter) with coin-in down 2%. Individually, Caesars Atlantic City grossed $26 million, a 4.5% gain, Harrah’s Resort slipped 2% to $29 million and Tropicana Atlantic City gained 2% to $29.5 million.
Bally’s Atlantic City was down 8.5% to $16 million and Golden Nugget fell 20% to $15.5 million. At the other end of the spectrum, Ocean Casino Resort shot up 58% to $30 million and Hard Rock Atlantic City solidified its hold on second place with $48 million (+23%). Also revenue-positive was Resorts Atlantic City, up 5.5% to $18.5 million.
Sports betting yielded $55 million in revenue. FanDuel was the leader with $28.5 million, then DraftKings with $10.5 million, BetMGM ($6 million) and William Hill ($6 million). Internet gambling was more lucrative, engendering $118.5 million in win, dominated by BetMGM ($36.5 million), then Caesars/WynnBet ($17 million), DraftKings at $15 million and Golden Nugget Online ($11 million). It’s obvious why DraftKings covets GNOG, as it would easily vault into second place in New Jersey (and other markets) were the two databases merged.
Massachusetts, meanwhile, grossed $96 million last month, a 17.5% leap over July 2019. Encore Boston Harbor devoured market share, accounting for 62%, distantly followed by MGM Springfield (25%) and Plainridge Park (14%). The latter grossed $13 million and was up 3%. MGM hopped 16% to $24 million, as slots won 11% more and tables gained an impressive 26% (they haven’t always been Springfield’s strength). Encore grossed $59 million, up 22%, as slots won $34 million and tables accounted for $25 million. Sports betting, meanwhile, remains mired in the bog that is the Massachusetts Lege.
Michigan continues to be the new powerhouse of Internet gambling, generating revenue of $92 million from i-casino play in July, while sports betting yielded only $21 million—and that’s before promotional discounts ($7 million). Sports wagering was way down from June, with handle of $206 million, while i-gaming remained stable. FanDuel captured 40% of the revenue, then BetMGM (25%), DraftKings (16%) and underperforming Barstool Sports (7%). Internet casino play was the province of BetMGM, $34 million strong, followed by DraftKings ($15 million), FanDuel ($14.5 million), BetRivers ($7 million), Golden Nugget ($5 million), and Fox Bet and Barstool around $3 million apiece.
Yesterday MGM Resorts International CEO Bill Hornbuckle confronted the elephant in the room (and bid strongly to be our man of the year) by ordering all employees, company-wide to be vaccinated—or else. “MGM Resorts is now requiring COVID-19 vaccination as a condition for employment for all salaried employees and new hires throughout the United States” read the boldfaced portion of an official communiqué obtained by Vital Vegas. Well, somebody had to be first and it might as well have been MGM. Vaccination is what stands between Sin City and a second vast shutdown—and the first was so great for business, wasn’t it? We hope that other CEOs in Big Gaming will screw their courage to the sticking post and follow Hornbuckle’s lead.
Jottings: Congratulations to Circa, which just received the one and only four-diamond ranking in Downtown from AAA. The citation read, in part, “These establishments dedicate a significant amount of attention to detail that helps ensure a consistent and memorable guest experience. To uphold the exceptionally high standards required on a daily basis to attain this rating is an outstanding achievement.” … Has Tom Reeg thrown in the towel on Bally’s Las Vegas? The Great Restaurant Massacre continues as Nobu follows Buca di Beppo and Tequila Taqueria onto the list of eateries consigned to oblivion, along with BLT Steak and the Sterling Brunch, one of the finest buffets in Las Vegas. There are even rumors that Bally’s Grand Bazaar Shops will be obliterated. Would anyone miss them? … You’d think sports betting will be a slam dunk at the California ballot box but Global Gaming Business columnist Richard Schuetz argues otherwise. His contention (and it’s worth reading in full) is that the California Lege (“a parliament of whores”) will tank the implementation … Watch out for this, Las Vegas visitors: Some hotel chains are experimenting with new add-on fees. For instance, it will cost you extra to check in early (arguably justifiable) or to use the pool (preposterous). Doubtless these “amenities” will be mandatory whether you use them or not, if widely adopted.
The Raiders announced that all fans who attend in person must be vaccinated or get the vaccine on the spot. This is the kind of action that a private business can take and help everyone, pay attention MGM/Caesars, offer your valued guests this protection, and encourage hold outs to reconsider their stance. It’s time for hospitality businesses to get into the fray, I wish it was not a fray, but if businesses that rely on people do not stand up to the misinformation and political interests that want to foment discord they won’t survive much more of this quagmire. Now that Caesars and MGM are not the landowners anymore, their interests should be focused on getting bodies right now into their facilities, live ones… There is no political philosophy in suffocation death, everyone should get together and do their part, the Delta variant is horrible, but it will only get worse if pockets of the population allow it to run rampant…
I found that article you linked to about California sports betting to be ridiculously one sided against the card rooms. one would glean from it that California card rooms harbor repugnant criminals and that the Native American tribes that are fortunate enough to have casinos are persecuted and have no power against evil elected officials… Nothing in there about details of the ballot initiative, geography, the sports bettors, or the revenues to the state. Please try to find another article that at least covers the issues and does not paint all card rooms as money laundering havens, and all politicians as crooks. The tribes have a freaking exclusive on slot machines, the Holy Grail of modern gambling, the pillars holding up Las Vegas, given to them by the same legislators they now accuse of drinking baby blood. Oh the poor tribes, so picked on they spend 650 million to buy The Palms, while they do giant renovations to their original properties… I predicted long ago this would get very ugly, the author of this “piece” is a shill for the tribes if you ask me…
This Michael Alexis needs to stop commenting. He’s a tool and suffocates any conversation with his repeats of what the govt etc tells him. Get your own brain
CA will never get on line betting, poker or gaming outside of Tribal gaming. There will never be any non-Tribal casino’s. There will never be a casino in Los Angeles. Could you imagine how packed that would be? The Tribal casinos have it locked up. The state is very worried that they will stop paying CA gaming revenues, unless they are appeased. And the CA legislature would want such a high price in taxes on non-Tribal gaming, it will not be worth it. And CA does not really have a gaming commission, since the only thing they would be able to regulate is horse racing and card rooms (not at casinos).
Obviously the California Native American tribes fortunate enough to have casinos have decided the route to controlling the cash cow that is sports betting is working the ref’s, and flooding the zone with half truths and baloney… A second read of the article posted was worse than the first read, the only thing left out was yellow cake uranium storage by the card rooms… California Card Rooms are responsible for forest fires, motorcycle cops, K.A.R.S. Cars For Kids tunes, boogers, flat tires, and any other scourge you can muster. And at the same time the Native American Casino owning tribes are innocent virgins riding sparkling unicorn ponies… Vote no on boogers, yes on unicorns… I can’t wait to see what the card rooms counter this tripe with, if they are smart they will sit back for a time and let the tribes try these scare tactics before they break out the maps…