Station Casinosis $62 million richer after unloading $56.5 acres of land near South Point to HCA Healthcare, a hospital chain. Don’t worry about Station’s plans to challenge Michael Gaughan for sub-Strip supremacy: It’s still harboring 126 acres of scrubland near the locals-casino behemoth (South Point, not Gaughan). Despite the flurry of Cactus Lane dealmaking, we still expect Station’s next thrust to be deeper into Henderson, with its much-bruited Inspirada resort.
Whilst 2022 may have come in like a lion for casinos, it’s going out like a lamb, despite an extra weekend day last month. Revenues in Maryland dipped 4.5% to $165 million statewide in December, still 11% better than the comparable period in 2019 (i.e., Just Before the Shyte Hit the Fan). Two casinos gained traction: Hollywood Perryville was up 1.5% to $7 million and Ocean Downs galloped 7% to $7 million. Everyone else was revenue-negative, even MGM National Harbor, down 7% to $69.5 million. Maryland Live ceded 4.5% but stayed close at $60 million. Horseshoe Baltimore was 1.5% down for its usual $17 million, seemingly the hard ceiling for this snakebitten property. Rocky Gap Resort slipped 4% to $5 million.
Life at S&G HQ is seriously clouded by the critical illness of a beloved fur baby. Nevertheless, we shall endeavor to gather our thoughts, starting with the consequences for bettors of the life-threatening Damar Hamlin injury on Monday Night Football. Those who placed their wagers on the Buffalo Bills/Cincinnati Bengals tilt via WynnBet have had their action refunded swiftly. Not so lucky are Circa punters, as Derek Stevens is hanging onto the money until or unless the NFL reschedules the game within eight days of the Hamlin tragedy. Other slackers include DraftKings, which is keeping bettors in on call waiting, piously claiming its thoughts were with the Hamlin family instead. PointsBet and Caesars Sportsbook also took the ‘thoughts and prayers’ line, diving under the table alongside Circa and DraftKings. Since the game wasn’t replayed by yesterday, BetRivers patrons got their money back, though.
Back on Dec. 21, we reported on nascent Oscar odds. What a difference 10 days makes. Babylon, “an early favorite to take home hardware at the 95th Academy Awards” according to one betting site, is spiraling from contention, thanks to its total implosion at the box office. Award-mooching Empire of Light also collapsed, meaning that both its star (adorable Academy fave Olivia Colman) and Babylon termagant Margot Robbie can kiss their Best Actress chances goodbye. Honors momentum continues to fill the sails of Everything Everywhere All At Once, Irish dramaThe Banshees of Inisherin and—I dread to say it—the pompous Women Talking. The first and third should receive last-minute Oscar tailwinds from the March 4 Independent Spirit Awards, and Banshees will likely get a Golden Globes lift on January 10.
Scarcely had the hot air cooled on Penn Entertainment‘s announcement that it was doubling the capacity of M Resort than word trickled out—via Vital Vegas—that Penn is in talks too sell the locals-oriented property to MGM Resorts Entertainment. It would be a radical shift in direction for Leo the Lion, who specializes in category-killer destination properties. But it’s more interesting in what it says about Penn, a company that has apparently lost its stomach for Sin City. It flailed and failed at the Tropicana Las Vegas and is now set to quit town altogether, it would appear. The sale proceeds would undoubtedly be channeled into Penn property upgrades in Illinois and Ohio. And M Resort is a relatively minor contributor to Penn’s overall coffers. But to quit Las Vegas at this juncture in order to double down on Joliet and Aurora seems like a questionable business decision indeed.
Most people wouldn’t spend Christmas Day in a casino or two but our East Coast correspondent did. He reports, “At the Golden Nugget on Christmas, Chart House, Lillie’s Asian, the Grotto (Italian), Michael Patrick’s coffee shop, Bean & Bread for breakfast sandwiches and light bites, and the Chairman’s Club lounge were open. At Bally’s, the valet parking closed to the intake of vehicles at noon, rather than the usual 5 p.m. Sunday. Their (alleged) VIP lounge was closed all of the weekend. The three restaurants on their sixth floor were closed. The pizza place was closed. If you want Dunkin Donuts or a simple sandwich, you’re in luck, otherwise go somewhere else for food.
“We had our ‘strange’ Christmas this year,” our reporter explains. “For the first time, we stayed in Atlantic City for Xmas, starting Friday for three nights. Friday started off with rain and strong wind, then our first snow of the season, followed by a ‘flash freeze’ in the afternoon (good reasons to not live in New Jersey). When we got to Golden Nugget, the valet intake was like a wind tunnel. A visit to Hard Rock included early dinner at their lounge. We went back to Golden Nugget and went to their Chairman’s Lounge at 10 p.m. as it was open until 11 p.m. on Friday. It was almost completely empty, as the photo shows, and it was so very cold due to to all of the windows.
It’s a good thing that news in the casino industry is virtually nonexistent today. S&G has been sidelined by a ruptured pipe that burst midday on Christmas, dampening our Yuletide spirit literally and figuratively. Whilst we wait for the plumber, here’s a bit of Christmas spirit from MGM Resorts International. Besides, where else …
It’s time to reward those who have been nice and offer appropriate gifts to the naughty. So, without further ado, we play Santa Claus to the casino industry …
We begin today with kudos to a non-casino entrepreneur, Bart Blatstein, who has erected a 150-foot Christmas tree in front of the Showboat. It’s said to be the first large-scale tree in Boardwalk history. Thank you, sir. And to get the comedy relief out of the way, our Atlantic City correspondent paid a visit to Bally’s Atlantic City and discovered another reason why it’s mired in last place. His visit began well: “We asked for a room close to the elevator with a shower (not a bathtub). We got the first room close to the elevator, with excellent ocean-front views.”
Things started to unravel from thereon. “On Sunday, I went up to their sixth floor restaurant level. Longo’s had hours posted, Sunday opens at 5 p.m. Their (alleged) VIP lounge closes at 5 p.m. but my wife refuses to go there after our last experience, so we missed the choice of ham & cheese or a hamburger. We went up at 5:30 and Longo’s never opened. Guy Fieri’s was closed. Their other restaurant closes at 2 p.m. So, the only choices for food on Sunday at 5:30 are Dunkin Donuts, their pizza place or their sandwich shop. Is Bally’s supposed to be a ‘major casino’? Not to us it’s not.” Chicagoans, be afraid. Be very afraid.
