Casinos in Atlantic City are having trouble catching a wave from the Great Reopening. Last month’s brick-and-mortar revenues were $214.5 million, 9% down from 2019. Slot win ($154 million) was 8% lower on 11% less coin-in and luck wasn’t with the house at the tables: 16% less revenue ($58.5 million) on only 1% less wagering. Borgata ($56.6 million) was luckier in that respect than most, with its table win flat despite 11% less betting, while slots plunged 20% on 23% less coin-in for an overall -13%. The Caesars Entertainment threesome slid 15%, on 17% lower slot win (18% less handle) and an 8% dip at the tables, where players bet 7% less than two years ago. Caesars Atlantic City fell 14% to $20 million last month, Harrah’s Resort slipped 13% to $21 million and Tropicana Atlantic City tumbled 18% to $21 million.

The only-revenue positive casinos were Ocean Resort, gaining 14% to $23 million (outdoing any Caesars property), and Hard Rock Atlantic City, surging 17% to $35 million. It will take more than new, pink windows to turn around Bally’s Atlantic City, plummeting 30% to $11 million. Also falling on hard times was the Golden Nugget, down 23% to $12 million, which left Resorts Atlantic City, down 11% to $14 million.

Continue reading Atlantic City plays catch-up; Pennsylvania, Michigan flex online muscles

Shazam! Massachusetts casino revenues for June were $84 million, 67% higher than 2019. But wait … as Deutsche Bank analyst Carlo Santarelli points out, Encore Boston Harbor wasn’t operational two years ago (it debuted on June 23, 2019), so on a same-store basis, casinos were actually down 6%. How come? The Bay State doesn’t have Internet gambling, which is starting to sap Pennsylvania. Capacity is unrestrained, although poker rooms aren’t back and we hear that players are hopping mad about it. Maybe Massachusetts players just don’t have that pent-up demand we’ve seen just about everywhere else. Encore dominated with $52.5 million, while MGM Springfield actually managed a 1% increase, to $20 million. Plainridge Park was the laggard, falling 16.5% and grossing $11 million. Expect owner Penn National Gaming to renew its mewl for table games at what was always and explicitly meant to be a slots-only facility.

Drilling further down, Wynn Resorts had 63% market share, MGM 24% and Penn 13%. MGM’s comeback was powered by slots, up 4% whilst tables were 9% down. It was the other way around at Encore, where tables were up 3% ($23 million) and slots dipped 4% ($29.5 million). Wynn’s decision to predicate Encore on upper-market play is coming up aces but what MGM thought it was doing building a high-end property way out in Springfield will be a head-scratcher for future historians of the company. We know the rich folks like to luxuriate in nearby Lenox but still …

Continue reading Massachusetts stumbles, Louisiana cruises; Big blunder at Circa

Casino winnings in Indiana came up just a few increments short of $200 million last month, a 13% gain on 2019. Hard Rock Gary came out of the blocks fast, grossing $26 million, although Horseshoe Hammond climbed 7% to retain supremacy at $34.5 million. Consigned to third place in the northern tier, Ameristar East Chicago won $21.5 million, still a 20% surge from 2019. Blue Chip, on the other hand, suffered. It was down 15% to $11 million. It’s Horseshoe’s ballgame to lose.

Farther south, it was more of a mixed bag. Two big gainers were Indiana Grand, up 15% to $24.5 million, and Harrah’s Hoosier Downs, galloping +16% to $18 million. Caesars Southern Indiana also put in a strong showing, up 11.5% to $19.5 million. Hollywood Lawrenceburg ceded 2% to $13 million, while Belterra Resort slipped 9% to $8 million. Tropicana Evansville edged 3% higher to $12 million, Rising Star eked out $4 million, a 6.5% downturn, and French Lick Resort tumbled 17% to $7 million.

Continue reading Indiana, Missouri stay strong; Mixed feelings about buffets

Tourism to Las Vegas in May was 12% higher than April and June should continue the climb, even if long-awaited World of Concrete was a flop (one-sixth of the expected attendance). Next up was the Nightclub & Bar Show, which drew 9,000 attendees. “I have goosebumps,” said one conventioneer of the back-to-almost-normal atmosphere. Despite the pounding techno music, amenities ran toward such mundane finger foods as Cheetos and tater tots. Portable bowling alleys and karaoke machines were among the items of interest. Evidently attendance was a last-minute decision for some, judging from the on-site registrations spotted by the Wall Street Journal. Most of the products on display were rather humble, such as a new drinking game (patent pending?) and a green-colored schnapps called Nuke Waste—how apt for Nevada.

It wasn’t quite the Nightclub & Bar Show of years past, being significantly chastened by Covid concerns. Where the expo had once been synonymous with six nights of clubbing, this year there were but two. Panels and (the more important) happy hours were also curtailed. Attendance was down 15%, exhibitors by 20%, which is still a lot better than World of Concrete managed. “Most of my sales from 1980 until today are still in-person,” said game entrepreneur Bobby Earp. “There’s no substitute for the contacts we make here.” Attendees were more worried about rising labor costs and flagging social-media presences than about Coronavirus. Even if the event was rather muted, the expo floor was awash with booze, which was freely sampled, one of the great bonuses of almost any Vegas convention. With 35 large-scale events booked between now and the end of the year, the Sin City convention calendar looks surprisingly healthy.

Continue reading Nevada conventions healthy, Nevadans not so much

We’ve been a busy bee of late. You can read our interview with Mohegan Gaming & Entertainment‘s Pacific viceroy, Bobby Soper, see our preview of Resorts World Las Vegas or look back on 2020, the year that wasn’t in gaming. Enjoy.

Ohio casinos are continuing their record pace, racing 22% ahead of June 2019. While play slackened a bit compared to May, casinos and racinos still grossed $197 million. Everyone was revenue-positive and Hollywood Columbus led the pack, winning $23 million and up 19%. Just shy of $23 million and climbing 30% was Jack Cleveland. Hollywood Toledo grossed $19 million, up 15%, and slumbering Hard Rock Cincinnati came to life with $19 million and a 17% boost. Just a hundred grand behind Hollywood Columbus was MGM Northfield Park, 11% up in a rare month out of first position. Scioto Downs leapt 26% to $19.5 million and Miami Valley Gaming hopped 22% to $18 million but the most dramatic gain was at Jack Thistledown, vaulting 46% to $17.5 million. Hollywood Dayton climbed 31% to $13 million, Hollywood Mahoning Valley was up 22% to $13.5 million and Belterra Park brought up the rear, gaining 8% to finish at $8 million.

Continue reading Torrid summer in Ohio; Kiddies for sports betting