Not even Rivers Casino Des Plaines was spared the impact of Hard Rock Rockford, as the newbie helped take a 4.5% bite out of Rivers’ December casino revenues compared to 2019, for a Des Plaines gross of $43 million, still easily the best in the state. Prairie State casinos grossed $110 million, down 12% from two years ago. Without the Hard Rock infusion, those numbers would have been worse still (-15%). The latter brought in $4 million, as did Bally’s Quad Cities (-25%), while Argosy Belle clung jealously to last place with $2.5 million (-35.5%). Other than Rivers, Grand Victoria suffered less than most, down 8% to $13 million. Business was not so kind to its sister properties, with Harrah’s Joliet off 27% to $11 million and Harrah’s Metropolis down 22% to $5 million.

Penn National Gaming wasn’t much more fortunate upstate than in Alton. Its Empress Joliet plunged 26% to $7 million and Hollywood Aurora slipped 13.5% to $9 million. Boyd Gaming‘s mid-state Par-A-Dice was down 14% to $5 million and DraftKings Casino Queen plummeted 30.5% to $6 million. God help ’em when the wave of temporary casinos fully comes online—let alone if the Lege legalizes i-gaming. Perhaps the winningest operator in the Land of Lincoln is MGM Resorts International, which had the good sense to get the hell out.

Continue reading Illinois slouches; Boyd, Churchill praised; DraftKings assessed

Scarcely had Deutsche Bank analyst Carlo Santarelli projected 12% gaming growth in Ohio over December 2019 than the numbers came in and it was 16%. The $197 million gross showed play heating up from November, too. Slot revenue was up 17.5% on 18.5% more coin-in and table win grew 8.5% on 6.5% heavier wagering. One extra weekend day obviously helped, but still … Belterra Park was up 5% to $8 million, Scioto Downs leapt 21% to $19 million and Miami Valley Gaming hopped 19% to $19 million. MGM Northfield Park clung to the top spot, just barely, with $23 million (+3.5%). It was closely contested by Hollywood Columbus ($22 million, +12.5%) and Jack Cleveland (pictured, ditto). Also bunched at the summit were Hard Rock Cincinnati ($21 million, +18%) and Hollywood Toledo ($20 million, +12.5%). Jack Thistledown catapulted 37% to $17 million, Hollywood Dayton leapt 34% to $13.5 million and Hollywood Mahoning Valley was good for $13 million, an 18% gain.

Continue reading Ohio, Missouri booming; Of sports and sports betting

There’s an Eeyore sweatshirt that says, “Could be worse. Not sure how, but it could be.” That pretty much sums up the situation in Macao, which finished 2021 44% ahead of 2020 when it comes to gambling revenue … but could one envision a worse scenario than 2020? Not sure how, but we could. The world’s gambling capital managed almost $11 billion in revenue last year, Las Vegas-like numbers but we have come to expect so much more. Of course, it’s difficult to open the throttle on Macao given the Chinese government’s newfound disapproval of gaming, and its habit of dialing access to the casino enclave up and down like the burners on a stove.

Then there’s the matter of concession renewals, which seem like a done deal but still have their skeptics, like Jefferies analyst David Katz, who cited “uncertainty” surrounding the concessions, leading him to take “a conservative stance” on Macao-centric stocks. Indeed, the market has punished stocks that are heavily reliant on Macanese casinos. Las Vegas Sands has fallen 35%, Wynn Resorts 20%. Galaxy Entertainment took a 33% bath and Melco Resorts & Entertainment got walloped 43%. “China Lite” MGM Resorts International, however, made out like a bandit, seeing its share price vault 51%.

Continue reading Doldrums in Macao; “Love” in jeopardy; Mega-Jottings

Could it be because MGM Resorts International CEO Bill Hornbuckle came justhisclose to being S&G‘s Executive of the Year? Could it be for his vigorous pursuit of diversity within the lion’s house? Might it be for MGM’s very proactive “Convene with Confidence” anti-Covid program that promotes safe meetings and conventions with innovations like in-room testing? Perhaps it is for being the first Las Vegas CEO to drop the hammer and mandate Covid-19 vaccinations for salaried employees? Or maybe it’s for a canny string of real estate deals, culminating in the $1 billion sale of The Mirage, that have left MGM awash in liquidity?

Continue reading Why is this man smiling?

But in a good way. Despite having one less weekend in which to gamble than in 2019, gaming revenues were off the charts last November. The Las Vegas Strip vaulted 46% to $755 million and locals revenues, expected to level off, instead catapulted 45% to $263.5 million. Some of the latter was fattened by end-of-October slot win, not tallied until the following Monday. Statewide, the leap was 41% to $1.3 billion. The magic number for the Strip was a 45% increase in baccarat win (remember, more international players were allowed into town) on 35% more wagering plus tighter hold. Strip slot win—$408 million—was a 47% jump on 31% more coin-in (and 9% hold), while non-baccarat table games rallied 45% on 35% larger betting and tight hold.

Continue reading Las Vegas explodes