Casinos in Atlantic City are finally catching up with the rest of gaming’s recovery. Last month they were only 3% off the 2019 pace. They grossed $213 million, a substantial improvement over April. Slot win was $158 million on 8% less handle, while tables won $53.5 million on 2% higher wagering volume. Borgata was a trifle unlucky, with table win down 6% and slots off 15% for a 7% overall decline. The Caesars Entertainment threesome slipped 13% but did fairly well at the tables, down only 2%, while slot win dropped 17%. Broken out by individual casino, Caesars Atlantic City held steady at -2% for $22.5 million, Harrah’s Resort slid 15% to $21.5 million and Tropicana Atlantic City stumbled 21% to $20 million. Borgata’s $49 million gross put it comfortably in first place but the only revenue-positive casinos were Hard Rock Atlantic City, vaulting 22% to $35 million and Ocean Resort, rocketing 51% to $24.5 million (a higher gross than any Caesars property, it should be noted). Resorts Atlantic City hung in there pretty well, down 5% to $15.5 million, while Bally’s Atlantic City skidded 21% to $12 million (to its credit, new management acknowledges that the place needs a refit) and Golden Nugget shed 23% but stayed out of last place with $13 million.

Sports betting was feeling the same May slump-let as everyone else, although handle was a healthy $814 million, up April’s $748 million. NBA action can be thanked, what with the Philadelphia 76ers, Brooklyn Nets and New York Knicks all in the playoffs, engendering $217 million in handle. Major-league baseball was responsible for another $186 million in handle. FanDuel/PointsBet was the revenue leader with $30 million, followed at some great distance by Resorts Digital/DraftKings/Fox Bet‘s $9.5 million. BetMGM held $5 million, Monmouth/William Hill/SugarHouse/TheScore scored $2 million and William Hill’s Ocean Casino outpost snagged another $1 million. Nobody else came close to the million-dollar threshold. Internet casinos held steady, grossing $108 million. BetMGM came in first with $33 million, then Caesars/WynnBet with $15.5 million, DraftKings with $14 million and Golden Nugget Online with $10 million. Concluded PlayUSA analyst Eric Ramsey, “Online revenue has clearly been resilient, but hopefully the retail market can sustain this return to pre-pandemic levels.” Amen.

Carrying a 20-year-long grudge, businessman Marshall Hao is suing Las Vegas Sands for $12 billion, claiming it wronged him when it jilted his Asian American Entertainment Corp. in favor of a (short-lived) partnership with Galaxy Entertainment to get into Macao. Although he’s not alleging such, political reasons may have been involved. Hao is a citizen of Taiwan, while Galaxy is firmly China-rooted. He wants 70% of Sands’ operating profits from the 2004-2022 period. The trial will be gaveled into session on June 16. Alas, we no longer have the addled, combative testimony of Sheldon Adelson to anticipate. In the past Sands has stated, “Using a different lawyer every time, AAEC has repeatedly filed lawsuits trying to take credit for that which they didn’t do.” However, the company has a history of promiscuity with regards to its Macanese partners. A $70 million court award to Richard Suen for an unpaid “success fee” still hangs over Sands’ head and the company quietly settled with three local Chinese businessmen for a similar favor.

The timing of the trial is unfortunate for Sands, with reexamination of casino concessions due next year. Whatever dirty laundry is aired is unlikely to redound to LVS’ benefit. Official company rhetoric has even taken a turn for the pessimistic. One of the key points on which the case is sure to hinge is Hao’s contention that the joint proposal submitted by Sands and Galaxy was identical to one already drafted with AAEC. In light of the present imbroglio, Sands will surely line up behind Sociedade de Jogos de Macau in petitioning City Hall to push concession reviews back to 2023. SJM CEO Ambrose So gave the rather weak excuse that the concessions shouldn’t be under consideration while they’re performing poorly financially, thanks to Covid-19 (as though they didn’t have a lengthy track record already). More to the point, he said it would be unfair to some of the concession holders if current travel restrictions prevent them from coming to Macao to testify. Former lawmaker and present casino executive Melinda Chan agreed, doubting that the government could wrap up the process in a year. In any event, Sands is sure to want whatever extension it can get.

First, the good news. Illinois gaming revenues held steady from April to May. However … they lagged May 2019 by 9.5%, for a gross of $107 million. The shining exception, as ever, was Rivers Casino Des Plaines, which cornered 39% of the market, up 5% to $41.5 million. One has to commend Churchill Downs for making such a strategic acquisition—and wonder what was going through Neil Bluhm‘s mind when he sold this gold mine. Grand Victoria did respectably, down 2% to $13 million, while Harrah’s Joliet ceded 24% to $11.5 million. Hollywood Aurora slipped 13% to $9 million and Empress Joliet tumbled 26% to $8 million. Par-A-Dice slipped 14% to $6 million and Jumer’s Casino Rock Island proved yet again to be an El Stinko investment for Bally’s Corp., toppling 38% to $4 million.

Further south, Argosy Belle‘s $3 million was actually a spectacular, 166.5% improvement on its 2019 performance. DraftKings at Casino Queen slid 29% to $6.5 million (maybe the oncoming sports book will help) while Harrah’s Metropolis shed 20% to $5 million. Illinois politicians think they can continue to force more golden eggs from the casino goose but with slot routes continuing to expand aggressively, the outlook for all but a few Land of Lincoln casinos is bleak, we’re afraid.