Category: Casino News

New product lifted Illinois‘ gambling grosses last month, as same-store revenues slipped 1%. The overall haul was $128 million and much of the propulsion came from The Temporary at American Place in Waukegan and its $7 million take. Hard Rock Rockford rocketed 21.5% to $6 million, while Rivers Des Plaines dipped 2% but still lapped its competitors with $45.5 million. Among the older riverboats, Grand Victoria was down 2.5% to $13.5 million, Hollywood Aurora did the same for $9 million and Hollywood Joliet actually gained 4% to $8 million. (Yes, we’re somewhat surprised.) Harrah’s Joliet nudged down a percentage point to $12 million.

What passes for entertainment at Bally’s Atlantic City continues to go over like a lead balloon with our man on the Boardwalk. Underwhelmed by the big second-quarter, tentpole event—a former Billy Joel backup singer—he notes acidly that nothing else is planned until October, five months distant. At that time, Bally’s will present two dates on the Gigi D’Alessio world tour. “You can’t imagine how long I have (not) been waiting for Gigi to take the boat from Italy to the U.S.A.,” he writes. “When Bally’s opens their casino in Chicago, perhaps they can offer tours of the Mob-related places led by Gianni Russo.” In between now and Gigi, the major events at Bally’s A.C. are last weekend’s host party and Wednesday-night dinners at Guy Fieri‘s restaurant.

Wall Street analysts rolled over and lit a cigarette after hearing Caesars Entertainment‘s first-quarter earnings call. J.P. Morgan analyst Joseph Greff said the results were pretty much as expected “with Las Vegas Strip upside more (way more) than offsetting a (modest) Northern Nevada adverse winter weather-related shortfall in its Regional segment (absent this impact, the segment would have been ahead) and a steady reduction/rationalization in Digital, with a near breakeven result.” Breakeven in digital? That is big—and good—news. Greff was moved to utter a “wow” when reporting that Caesars is gaining traction in Strip midweek bookings (good) and convention traffic (even better), with the latter accounting for 21% of room nights, up 50% (with help from triennial CONAG) from a pre-Covid 14%. We’d be orgasmic too if we had skin in the CZR game.

Resisting the temptation to call it Aladdin 2.0, executives at Wynn Resorts unveiled designs of their United Arab Emirates casino resort, Wynn Al Marjan Island. Noting that its’ the company’s first oceanfront resort, Wynn is quick to assure us that the casino is 1,000 feet above sea level, presumably safe from the depredations of global warming. The company is specific about the budget ($3.9 billion) but vague regarding what the finished product will offer. “The project will pave the way for the accelerated growth of allied business sectors,” we are promised. What the company is prepared to say is that there will be 1,500 guest rooms and suites, 24 unspecified eateries, and oh yes, “a gaming area.”

The Great American Gambling Craze isn’t abating, although Las Vegas Strip revenues slipped 3% in March, down to $724.5 million. This was paradoxical, as it came in a month in which airline passenger loads into and out of Las Vegas grew 25% year/year, buoyed by two Taylor Swift concerts and March Madness. Part of the problem was bad luck by the house. Baccarat win plunged 50% despite on 5% less wagering as the man saw relatively little ($63 million) of the $604.5 million that was bet. Other table games revenue was actually up 7% to $239 million, while slots did well also, hopping 6.5% to $422 million. Still, the baccarat bath was sufficient to pull Strip table revenues from 7% up to 14% down.