Whilst 2022 may have come in like a lion for casinos, it’s going out like a lamb, despite an extra weekend day last month. Revenues in Maryland dipped 4.5% to $165 million statewide in December, still 11% better than the comparable period in 2019 (i.e., Just Before the Shyte Hit the Fan). Two casinos gained traction: Hollywood Perryville was up 1.5% to $7 million and Ocean Downs galloped 7% to $7 million. Everyone else was revenue-negative, even MGM National Harbor, down 7% to $69.5 million. Maryland Live ceded 4.5% but stayed close at $60 million. Horseshoe Baltimore was 1.5% down for its usual $17 million, seemingly the hard ceiling for this snakebitten property. Rocky Gap Resort slipped 4% to $5 million.

Continue reading Maryland sags; Dustup at Red Rock; Sands’ big NY play; The dangers of Fanatic-ism

Scarcely had the hot air cooled on Penn Entertainment‘s announcement that it was doubling the capacity of M Resort than word trickled out—via Vital Vegas—that Penn is in talks too sell the locals-oriented property to MGM Resorts Entertainment. It would be a radical shift in direction for Leo the Lion, who specializes in category-killer destination properties. But it’s more interesting in what it says about Penn, a company that has apparently lost its stomach for Sin City. It flailed and failed at the Tropicana Las Vegas and is now set to quit town altogether, it would appear. The sale proceeds would undoubtedly be channeled into Penn property upgrades in Illinois and Ohio. And M Resort is a relatively minor contributor to Penn’s overall coffers. But to quit Las Vegas at this juncture in order to double down on Joliet and Aurora seems like a questionable business decision indeed.

Continue reading No ‘M’ in ‘Penn’; A Royal mystery; See Vegas and die

Most people wouldn’t spend Christmas Day in a casino or two but our East Coast correspondent did. He reports, “At the Golden Nugget on Christmas, Chart House, Lillie’s Asian, the Grotto (Italian), Michael Patrick’s coffee shop, Bean & Bread for breakfast sandwiches and light bites, and the Chairman’s Club lounge were open. At Bally’s, the valet parking closed to the intake of vehicles at noon, rather than the usual 5 p.m. Sunday. Their (alleged) VIP lounge was closed all of the weekend. The three restaurants on their sixth floor were closed. The pizza place was closed. If you want Dunkin Donuts or a simple sandwich, you’re in luck, otherwise go somewhere else for food.

“We had our ‘strange’ Christmas this year,” our reporter explains. “For the first time, we stayed in Atlantic City for Xmas, starting Friday for three nights. Friday started off with rain and strong wind, then our first snow of the season, followed by a ‘flash freeze’ in the afternoon (good reasons to not live in New Jersey). When we got to Golden Nugget, the valet intake was like a wind tunnel. A visit to Hard Rock included early dinner at their lounge. We went back to Golden Nugget and went to their Chairman’s Lounge at 10 p.m. as it was open until 11 p.m. on Friday. It was almost completely empty, as the photo shows, and it was so very cold due to to all of the windows.

Continue reading A Boardwalk Christmas; Mega-Jottings