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.

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.”

After a somnolent Tuesday, all heck has erupted in the gaming universe and we’ll try to cram at least some of it into today’s dispatch. Gaming revenues continue to flicker here and there, while remaining high heavens above 2019’s outstanding numbers. Missouri casinos grossed $169.5 million last month, 1% higher than last year, as gambling fever continues to level off, albeit at an elevated level. A nice problem to have. Gamblers visited 5% less but spent 7% more in Show-Me State casinos. Starting in Kansas City for a change, Ameristar Kansas City (above) led the market with $18 million (flat). Rebranded Bally’s Kansas City continues to devour market share, up 11.5% to $10.5 million. One of its victims was Harrah’s North Kansas City, down 7% to $15 million, while Argosy Riverside was flat at $16 million.

Cynicism, thy name is Big Gaming. Whereas its chips were all in with Nevada Gov. Steve Sisolak (D) the last time around, now it has a dampened finger held upwards, testing which way the wind is blowing. The Las Vegas Review-Journal has done some digging through public records, and found some surprising Sisolak backers and opponents in the C-suites. Numero uno is Venelazzo, which has flung $250,000 into the Sisolak coffers. It’s followed by Caesars Entertainment, which has chipped in another 90 grand. True believers in Sisolak’s opponent, former Clark County sheriff Joe Lombardo (R) mostly represent smaller fry, like Golden Entertainment ($90,000), perhaps to punish Sisolak for his financially costly (but necessary) 78-day shutdown of Nevada’s signature industry, in an effort to squelch Covid-19. Then you have the cynics, foremost among whom is Boyd Gaming, sending $40K to Sisolak but $30K to Lombardo, enabling it to claim it’s on the winning side regardless of what happens in November. Phil Ruffin, the El Cortez, Ellis Island and Longhorn Casino are comparable bet-hedgers.