Category: Casino News

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.

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.

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.

Take a long look at that rendering for Bally’s Bronx. You might never see it again. The project got smothered in the crib by the New York City‘s governing council, which voted 26-9 to deny it rezoning from Bally Links. Without that, the $4 billion pipe dream is as good as gone. Gone too are Donald Trump‘s increasingly faint hopes for $115 million “gaming event fee” should Bally’s grab the brass ring. But, contrary to Bally’s Chairman Soo Kim‘s borderline paranoia, the fatal blow was struck from the right, by Councilwoman Kristy Marmorato (R). She was against the project and brought 25 other votes with her. Hard cheese, Soo. The Bally’s boss was thunderstruck by the outcome and has said virtually nothing since that City Council shockeroo.

Any child knows that ‘daily fantasy sports’ is a fancy name for sports betting. The primary fantasy at work is the notion that it ISN’T sports wagering. If you field the 2025 Los Angeles Dodgers but swap out a measly player or two, you’re in clover. After all, the success or failure of your “team” is predicated on real-world stats as compiled by real-world athletes. It’s sports betting, plain and simple.