Author: David Mckee

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Boardwalk Bliss; Dr. Doom

As Las Vegas struggles, customers have been flocking to Atlantic City. It’s not a binary equation, obviously, but it does underscore the appeal of drive-in casinos in times of economic uncertainty. Day-tripping is on the ascent, long-haul travel not so much. Casino revenue hopped 4% on the Boardwalk in July, reaching $284 million. Those seeking to beat the heat stayed home and made iGaming a winner, shooting up 26.5% to $247 million. Sports betting was in a summer lull, with handle down 2% and revenue dipping 6.5%.

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Hill the Shill Returns

DeNile is the only river that runs through the Las Vegas Strip and casino bosses having been boating on it big-time of late. But when it comes to blowing sunshine up one’s own ass, there’s nobody better at it than Pollyanna-in-Chief Steve Hill, CEO of the Las Vegas Convention & Visitors Authority. He dumped an extra-large serving of bullshit on the plate of CDC Gaming‘s Buck Wargo last week and demanded that the public swallow it whole.

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Good Guys & Bad Guys

See that fella? It’s certified Bad Guy Sen. Mike Crapo (R) and he’s grinning because he stuck it to you big time and looks to get away with it. To steal from Vital Vegas author Scott Roeben, Crapo has the perfect last name for someone who gleefully took a big, steaming dump on the gambling public. He’s the evil genius behind the OBBBA tax hike on gamblers, which got passed because most of Crapo’s colleagues were too clueless to study the bill … and because they were under heavy White House pressure to move the damn thing.

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Monitoring the Midwest

It’s been two days since Hollywood Joliet opened and the reviews are in. Suffice it to say that Wall Street is raving about what Penn Entertainment accomplished on a mere $185 million. (One analyst even likened the finished product to Durango Resort in terms of quality.) It will be October before we know how much of a sparkplug it will prove to be, but solid business should (thanks to superior access) solidify into something quite a bit more. After all, Joliet hasn’t seen a new casino in 30 years.

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No Hope for ESPN Bet?

Penn Entertainment opens its new, $185 million Hollywood Joliet tomorrow. It could use the boost. Land-based casinos continue to perform for Penn, despite CEO Jay Snowden‘s dubious competence. Its much-vaunted digital strategy is another matter. Online return on investment just got reduced 25%, meaning that Penn will lose $200 million on sports betting and iGaming this year, not a mere $160 million.

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Wynn Wins

Delilah (Wynn Las Vegas)

While bigger rivals Caesars Entertainment and MGM Resorts International were spinning less-than-stellar results, Wynn Resorts actually had something to crow about in 2Q25. For thing, it hit record levels of cash flow at Wynncore. True, the company came in under where Wall Street had forecast it. But The Street was duly impressed with what Wynn delivered.

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Strip Snaps Slump

After months of the bow planes being locked in “Dive,” the submersible U.S.S. Las Vegas Strip finally righted itself, at least for June. Gambling grosses nudged upward 1%, nabbing $765 million. Slots carried the freight, as the one-armed bandits took 10% more, year/year. Baccarat wasn’t the usual disaster but it was down 7%, while all other table games slumped 9.5%. So score one for the low rollers, who saved Las Vegas‘ bacon … and damned little gratitude can they expect for it.

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Regional Gambling Still Strong

Casinos in the commonwealth of Massachusetts eked out a 1.5% increase in gambling revenue last month. Encore Boston Harbor led with $60 million, flat with June 2024. MGM Springfield hopped four percent to $23 million, possibly helped by scads of headlines about jackpots in Springfield. (Well played, MGM publicity.) Plainridge Park gained 6%, finishing with $14.5 million.

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Smoking Gun; Motown Mayhem

We promised to stay on the case of the phantom rebranding of the Tropicana Atlantic City. Above you see the official evidence. There’s nothing sinister afoot. Caesars Entertainment simply got caught with its marketing pants down. It is a bit funny that the Roman Empire would change its Atlantic City letterhead but simply forget to rename the casino. Assuming that’s what was going on. And you know what happens to those who assume.

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Surge in Atlantic City

As consumers breathed a sigh of relief over tariffs that were more rhetorical than real, Atlantic City casinos spiked 5% in June. Boardwalk casinos grossed $259 million. It would have been even larger had the calendar not been short a weekend day. Borgata leapt 19.5% to $76.5 million and continuing supremacy. In a startling development, Ocean Casino Resort not only vaulted 30% but it nearly caught a slumping (-5.5%) Hard Rock Atlantic City, $43.5 million to $46 million.

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