Las Vegas Advisor

Posted on August 26, 2022September 14, 2023 by David Mckee — 2 Comments

Sports betting doomed in California?; Much heat, light at G2E

We wouldn’t have believed it but it appears that both California sports-betting ballot initiatives could go down to defeat in November. While we favor sports betting, on principle, we don’t have a dog in this fight. Both Proposition 26 (tribal) and Proposition 27 (Big Gaming) have their merits and drawbacks. Thus you’ll not see us endorse either one prior to Election Day. Promise. The gloomy prospect of a double-barreled defeat comes from Eilers & Krejcik Gaming, a source that should be taken seriously. “The political power and deep pockets of interests with dogs in this hunt … together with competing sports betting measures whose back-to-back presentation on the ballot is likely to confuse voters have us leaning negative on California’s sports betting legalization prospects this fall,” they forecast.

Posted on August 25, 2022September 18, 2023 by David Mckee — 1 Comment

G2E Asia

It’s in full swing at Marina Bay Sands and we’re covering it for CDC Gaming Reports, which means there won’t be much S&G this week. In the meantime, check out this he-said/she-said scandal involving former Interior Secretary Ryan Zinke (who seems to have a problematic relationship with the truth) and his apparent hanky-panky involving the attempted Tribal Winds casino in Connecticut. That project would be totally forgotten and unnecessary, given the struggles of once-feared MGM Springfield, had not Zinke’s inability to come clean not brought it back into the headlines.

Posted on August 23, 2022August 29, 2023 by Bob Dancer — 16 Comments

Promotion at Molly’s — Part II of II

In last week’s blog I described a loss rebate promotion at Molly’s, a chain of local 15-machine pubs in Las Vegas. I know many of my readers aren’t Vegas locals. While the specifics of today’s enhancement concern Molly’s, I’m hoping to make the discussion general enough so that it might be useful elsewhere as well.

Posted on August 22, 2022September 14, 2023 by David Mckee — 3 Comments

Vegas insanity; Penn’s bad boy; Lake Mead in peril

Remember Viva? The Fertitta Brothers would prefer you didn’t.

Imagine an 8.5-mile Las Vegas Strip. You may not have to because “experts” say “it’s in the cards.” What’s the cause of this crazed optimism? No, it’s not the economy. The prospect of a baseball stadium at Sahara Avenue and Las Vegas Boulevard bookended by a basketball one at Blue Diamond Road is spurring such fantasies of untrammeled growth. Already, Dream Las Vegas has leapfrogged Mandalay Bay as the nominal southern terminus of the Strip and Station Casinos has undisclosed designs on a major site immediately below South Point. Former MGM Resorts International spokesman Alan Feldman thinks developers could get so carried away, they’ll extend the Strip all the way down to M Resort but “At some point, water is going to be a limiting factor. It almost already is.”

Posted on August 19, 2022September 14, 2023 by David Mckee — 1 Comment

Sharp decline in Detroit; Biden backs Seminoles, DeSantis

Motown casinos grossed $106 million last month, off 8.5% from July 2021 (and way down from 2019, excepting stellar MGM Grand Detroit). MGM led with $51 million, MotorCity followed with $35 million and, as always, Hollywood Detroit brought up the rear with $20 million. Year/year comparisons were not available by property. Analysts seem much more excited by Internet gambling ($126.5 million) and sports betting ($23 million, minus $7.5 million in promotions). BetMGM was the pace car of i-gaming with $48 million, pursued by DraftKings ($25 million) and FanDuel ($18.5 million). Others who got a decent share were BetRivers ($9 million), Caesars Entertainment ($6 million), Barstool Sports ($4.5 million), WynnBet ($4 million), FoxBet ($2 million) and dark horse BetGLC ($1.5 million). As for everybody else, you wonder why they even bother.

You could say the same thing about sports betting, dominated by FanDuel ($8 million) and BetMGM ($5.5), with DraftKings close behind at $5 million. Barstool Sports and Caesars Sportsbook each collected $1 million, and it was chicken feed for everyone else, a hundred grand here, two hundred grand somewhere else.

Posted on August 18, 2022September 14, 2023 by David Mckee — 2 Comments

Pennsylvania: Parx back on top; Gov’t milks problem gambling

Despite a 12.5% dropoff in revenue from July 2021, Parx Casino outpaced the rest of the Pennsylvania pack last month, booking $51 million in revenue. The only other casino to come close was Wind Creek Bethlehem, riding a 13.5% surge to $48 million. As for Parx’s competitors in the Philadelphia market, only Valley Forge Casino Resort was revenue-positive with $12 million (+2%). Rivers Philadelphia and Philadelphia Live were both in free fall, with Rivers having the worst of it, plunging 26% to $17 million, while Live dove 16.5% to $18 million. Harrah’s Philadelphia, despite an 11% tumble, actually found itself within striking distance of the downtown casinos with its $15 million.

Posted on August 17, 2022September 14, 2023 by David Mckee — 2 Comments

Atlantic City burgeoning; Posthumous Adelson scandal

Revenues on the Boardwalk jumped 8% last month from July 2021, reaching $299 million on the nose. Slot winnings were good, up 5.5% on 6.5% more coin-in but table win was even better, growing 16% on only 4% higher wagering. Surging 20%, Borgata was way out in front with $77 million. Hard Rock Atlantic City leapt 11% to $53 million, while Ocean Casino Resort catapulted 33% to $40.5 million. Rebranding and renovation helped Bally’s Atlantic City, the only other revenue-positive casino, climb up 3.5% to $17 million. Last place went to Golden Nugget, down 7% to $14.5 million. Strongest of the Caesars Entertainment properties was Tropicana Atlantic City with $28 million (-5.5%). Despite a 9% decline, Harrah’s Resort came in next with $26.5 million, then Caesars Atlantic City with $25 million (-3%). Rounding out the picture was Resorts Atlantic City‘s $18 million, down 2%.

Posted on August 16, 2022August 24, 2023 by Bob Dancer — 10 Comments

Promotion at Molly’s — Part I of II

I received the following email for the Gambling with an Edge mailbag show:

Hi Bob, how do you calculate the edge on this video poker promotion? Molly’s in Vegas offers “lose $20, get $20” but I’m not sure how to calculate the advantage (if any). Also, if you have played this promotion before, do you literally have to put in $20 and lose it all before you get the $20 free play, or can you just lose four hands at $5 a hand to be credited the $20 free play?

Posted on August 15, 2022September 14, 2023 by David Mckee — 2 Comments

Tidal Wave in Atlantic City; FanDuel hits paydirt

Is Ocean Casino Resort‘s new leadership sweating comps? Our East Coast correspondent tried to score two for a Boz Scaggs concert, couldn’t, but paid anyway. What did he see? “The concert was far from being sold out. Do you think they could have given away ‘comp’ tickets for at least some of those empty seats?” Even so, the casino floor “was still very crowded” at 11 p.m. He did spot a construction flaw in the ultra-popular casino: “The other photo is in the self-park garage. I’m not an engineer, but isn’t the concrete supposed to meet the metal? The light you see is from the garage level below.”

Posted on August 12, 2022September 14, 2023 by David Mckee — 2 Comments

Big Gaming’s boffo biz; Bay State buttinski; Trop’s doom sealed

Amidst all the gloom-and-doom talk about the U.S. economy, one sector is doing better than ever: gambling. 2Q22 was an industry-best and the year is on track to be the biggest in history (despite curtailments in international play). The American Gaming Association reported $14.8 billion in casino revenue for the last quarter, 9% better than a year previous. 2021’s final tally was $53 million and 2022 is on pace to shoot well past that. Factor in record tribal-gaming revenues ($39 billion in fiscal year 2021) and it’s time to pop the champagne corks in the C-suites. Slot play was flat year/year but table win surged 18%. AGA President Bill Miller tempered his enthusiasm by saying, “we are cognizant of the continued impacts of inflation and labor challenges, as well as marketplace concerns of potential recession.”

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