Horseshoe Lake Charles continues to prop up Louisiana casino revenues, which were down 2% last month compared to -6.5% if Horseshoe is subtracted. The statewide gross was $196 million. Visitation overall was up 3% but gamblers clutched their purse strings, spending 4.5% less on average. Lake Charles was led by the Golden Nugget, down 2% but winning $29 million. Close behind was L’Auberge du Lac with $27 million, feeling the Horseshoe hurt with an 8.5% decline. Horseshoe brought in $9 million while Delta Downs was good for $14 million, beating the odds with a 2% climb.

In New Orleans, the evolving Harrah’s New Orleans dipped 5.5% but still crushed the competition with $20 million. Boomtown New Orleans made $10 million, off 7%, while Treasure Chest dropped 12% to $7 million and Fair Grounds racino stumbled 13.5% to $3.5 million. Outlying Amelia Belle (pictured) was down 8% to $2.5 million whilst Evangeline Downs was off 2% to $6 million.

Continue reading Louisiana still sinking; Insult from the Lege; Japan follies

Beating Wall Street expectations comfortably, Las Vegas Sands reported cash flow of $973 million yesterday. Wall Street had expected $939 million from the second quarter while a more optimistic Joseph Greff of J.P. Morgan had projected $964 million. Macao-derived revenues continue to climb, hitting $530 million for 2Q23 (Greff had anticipated $548 million). Mass-market play continues to be Sands’s savior, with premium mass at 93% of pre-pandemic levels while bread-and-butter gamblers have achieved 77% of their prior volume. June was particularly strong for Macao, with a boffo $200 million in EBITDA achieved in the final month of the quarter. However, the Street expects far more from the third and fourth quarters: $617 million and $701 million respectively. Interestingly, while Chinese provinces are still below 2019 visitation numbers, Hong Kong players are all the way back and then some—102% of where they were before a little ditty called Covid-19.

Continue reading Casinos boffo everywhere: Unite-Here dumbassery

Gambling revenues lifted Missouri‘s riverboats 2% last month, reaching $155 million. Actual visitor spend was flat but 2% more people visited casinos, which is a more-than-acceptable tradeoff. Despite a 1% dip, Ameristar St. Charles (above) was the state leader, grossing $24 million. Hollywood St. Louis picked up business lost by Ameristar and then some, leaping 12.5% to $20.5 million. It sister property, River City, was flat at $20 million, while Horseshoe St. Louis vaulted 16% to $13 million. In Kansas City, there was a major setback at Argosy Riverside, down 10% to $13.5 million. Bally’s Kansas City continues to capture market share, jumping 16% to $11 million, the only casino in town to improve on last year’s numbers. Ameristar Kansas City slipped 1.5% to $16.5 million and Harrah’s North Kansas City slid 5.5% to $13.5 million. Outstate, Century Casinos was flat in Caruthersville ($3.5 million) and 2% down in Cape Girardeau ($6 million), while Isle of Capri Boonville climbed 5% to $7 million.

Continue reading Missouri buoyant; Caesars sees no evil; Saudis denied