I’m going to present a case about a Caesars property with conditions that may not exist anywhere. I’m trying to address how I would figure things out if this property did exist. I know many of my readers would prefer I do all the calculations for their particular casino and tell them, “Just do this.” I can’t do that. There are thousands of casinos out there with a different game mix at each one. And the game mix is different for quarters than it is for dollars than it is for higher denominations. And to top it off, I have readers who insist on playing Double Double Bonus even if there are numerous superior games EV-wise.
Continue reading Which One is Better?Fanatics and freeloaders; Texas fails twice over
In its frenetic effort to gain market share in the U.S., Fanatics has cut a deal with outgoing PointsBet. For the relatively cheap price of $150 million, it is buying the American (but not Canadian) operations of PointsBet, which tells you something about how badly PointsBet wants to get out of the Land of the Free. Fanatics beat Penn Entertainment and Bally’s Corp. to the punch, although it’s not clear what Bally’s inchoate sports-betting operation would have gained from yet another acquisition. PointsBet’s reason for quitting the scene is quite simple: It just doesn’t have the moolah to stay the course to profitability, so it’s getting out while it’s behind. Among those taking a bat on their PointsBet investment will be NBC Universal, which backed a loser. If the PointsBet gaming licenses currently valid devolve to Fanatics, the latter will have made a head start toward getting into 12 states by late August. Fanatics claims it has a 10-year business plan but OSB moves fast. It’s already five years old in this country and the market share has ossified around four or five operators.
Continue reading Fanatics and freeloaders; Texas fails twice overCAN PHYSICS GIVE YOU AN EDGE AT THE ROULETTE TABLE?
This post is syndicated by the Las Vegas Advisor for the 888 casino group. Anthony Curtis comments on the 888 article introduced and linked to on this page.
Continue reading CAN PHYSICS GIVE YOU AN EDGE AT THE ROULETTE TABLE?Illinois up, Missouri down; Golden fails to glitter
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.
Continue reading Illinois up, Missouri down; Golden fails to glitterAdios, Tropicana; Wynn’s beat goes on; Sex & OSB
As much as we sensed it was coming and were resigned to it, it’s sad to know that the Tropicana Las Vegas has been marked for imminent death. The Las Vegas Strip dowager is showing her years, admittedly, but she’s the last remaining vestige of classic Vegas, especially after Sam Nazarian disemboweled the Sahara and the Riviera went the way of all flesh. Just when Station Casinos thought it was going to see a big real estate payday, it was double-crossed by the Oakland Athletics. Turns out the A’s had been playing footsie with Bally’s Corp., which did a great job of pretending nothing was transpiring at the Trop. Under the new deal, which was sniffed out by Howard Stutz, the A’s would build a nine-acre $1.4 billion stadium atop the ex-Trop, with Bally’s holding onto 25 acres for future redevelopment.
Continue reading Adios, Tropicana; Wynn’s beat goes on; Sex & OSBMaybe Not My Best Plan
Today’s story has nothing to do with gambling — video poker or otherwise. I’m on a cruise ship and have “checked out” from thinking about gambling. I’ll be back to talking about gambling next week. For those of you who read this despite it being outside of my normal subject matter, I hope you enjoy it.
Continue reading Maybe Not My Best PlanBally’s bombs twice over; Buffets (bad ones) return
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.
Continue reading Bally’s bombs twice over; Buffets (bad ones) returnPortnoy torches Penn; Station “outstanding”; DraftKings improves; Alabama betting brouhaha; Derby gone to the dogs
Penn Entertainment stock collapsed 13% Wednesday afternoon after Barstool Sports founder Dave Portnoy took to Twitter to rant and rave about the firing of Ben Mintz, a ‘Stool fool who dropped the N-word on air for all the world to hear. A panicky Portnoy simultaneously trashed Penn’s decision whilst pretending to rationalize it by saying the company could lose all its gaming licenses over the Mintz matter. Not bloody likely, although it would certainly imperil Penn’s provisional OSB license in Massachusetts, where it just squeaked by the last time—possibly in Ohio, as well, where it had been running a scofflaw operation.
So stupid is Portnoy that he scored an own-goal on his personal stock holdings, being heavily invested in Penn. He quickly tried to spin his gaffe, tweeting that it’s “Great time to buy. It’ll bounce back in my humble non financial advise [sic] opinion.” What an idiot. As Credit Suisse analyst Ben Chaiken diplomatically put it, “well publicized Barstool personnel changes likely drove the stock reaction.”
Continue reading Portnoy torches Penn; Station “outstanding”; DraftKings improves; Alabama betting brouhaha; Derby gone to the dogsBobby Vegas: Over the Rainbow for Rainbow in Downtown Henderson
An LVA Member Rewards Book coupon run is always an adventure.
With the MRB, I’ve discovered such gems as Fat Choi at the Eureka, $1 oysters at Palace Station, the Downtown Grand prime rib, El Cortez’ half-off for seniors on Wednesdays at Siegel’s 1941, the buffet at South Point, and of course Ellis Island’s steak dinner. And that’s just the food. Video poker is the gold.
Continue reading Bobby Vegas: Over the Rainbow for Rainbow in Downtown HendersonCaesars satisfies; Knee-Jerlecki response; Press-ed out
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.
Continue reading Caesars satisfies; Knee-Jerlecki response; Press-ed out