Category: Casino News

Despite fewer weekends than in 2019, Pennsylvania casino revenues nudged up 3% last month, albeit not a same-store comparison, what with three new casinos having opened in the interim (that would make it -9%). Slots won $185.5 million and table games $73.5 million. High hold was good for sports-betting revenues, which came in at $85 million ($64 million after promotional outlays) on handle of $762 million, holding up well in comparison to five-weekend October. Internet gambling brought in another $94 million. Alas, only two casinos were revenue-positive for the month, which will continue to fuel fears of saturation (with slot routes just over the horizon). Valley Forge Resort was up 6% to $11.5 million and Wind Creek Bethlehem grew 5% to $41.5 million. No 2019/21 comparisons are available for Philadelphia Live ($16 million), Pittsburgh Live ($8 million) or Hollywood York ($7 million).

It’s a tried and true adage of American life that if you can’t get what you want fair and square, take it to court. Case in point: Full House Resorts. Having lost out on the Indiana Gaming Commission‘s selection of a casino developer for Terre Haute, Full House is siccing its lawyers on the IGC, charging it with lawbreaking. And the IGC may have handed Full House a valid case by adjourning in mid-meeting to hold an executive session, something Indiana open-meeting laws expressly forbid. The gist of that secret conclave may never be known but Full House’s proposal went from contender to zero in the interim. Full House’s implication—the fix was in.

Casinos in Atlantic City grossed $207 million last month, an 8% declivity from 2019, as players tightened their purse strings. Overall, slot revenues were down 1% on a commensurately lower amount of coin-in. The house played unluckily at the tables, falling 22% on 16% less wagering. For Borgata ($48 million) the numbers were a catastrophic 47% plunge at the tables on 30% less betting and looser hold, compounded by 6% less slot win on 6% less coin-in for a total 18% decline. The Caesars Entertainment threesome tumbled 26%, driven by terrible table win (-47% on 33% less betting) and poor slot performance (-17% on 13% less coin-in). Individually, Caesars Atlantic City plummeted 42.5% to $16 million, Harrah’s Resort slipped 12% to $22.5 million and Tropicana Atlantic City slid 21% to $19 million.

Only two casinos were revenue-positive. Hard Rock Atlantic City skyrocketed 59% to $37 million and Ocean Resort soared 46% to $28.5 million. New-look Bally’s Atlantic City was still down 17% to $11 million, Resorts Atlantic City declined 12.5% to $12 million and Golden Nugget grossed $12 million, a 30% falloff.

Massachusetts casinos bagged $88 million last month, a 12% boost over 2019. Encore Boston Harbor, predictably, was way, way out in front with $55 million, up 16.5%. Win was fairly even divided between slots ($30 million) and tables ($25 million), in a vindication of Wynn Resorts‘ business plan for the market. Plainridge Park was flat with $11 and MGM Springfield had a good month, grossing $22 million and up 9%. Casino win was down 8.5% from October but we’re discounting that due both to “seasonality” and one fewer weekend when compared to two years ago.