Massachusetts stumbles, Louisiana cruises; Big blunder at Circa

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 …

No such caveats needed for Louisiana, where casino winnings were a healthy $221.5 billion, an 8.5% boost over 2019. It’s 14.5% high if one excludes in-limbo Diamond Jacks and defunct Isle Grand Palais. Leading all markets was Baton Rouge, where L’Auberge Baton Rouge vaulted 36% to $17 million, while Hollywood Baton Rouge jumped 32% to $6 million. Belle of Baton Rouge seems to have hit rock bottom, down only 9% to $1.5 million. In the Lake Charles area, Delta Downs was flat at $15.5 million. Top honors in the state went to L’Auberge du Lac and its $32.5 million gross, up 25%, while Golden Nugget wasn’t far behind at $31 million and 18% upwards.

Harrah’s New Orleans predictably led the Big Easy with $24.5 million (+10%) and Boomtown New Orleans climbed 23% to $12 million, defending its second-place status. Treasure Chest slid 10.5% to $8.5 million, Amelia Belle sank 15% to $3 million and Fair Grounds racino trotted 5.5% faster to $4 million. Outlying Evangeline Downs was a bit off at -1.5% for a $7 million gross. That leaves Shreveport/Bossier City, where a few casino executives are looking with fear and apprehension at Shreveport’s oncoming smoking ban. Margaritaville continues to put Horseshoe Bossier City in the shade, $20 million to $13.5 million (+41.5% and -4% respectively). Also coming on strong were Eldorado Shreveport ($12 million, +30%), Boomtown Bossier ($5 million, +29%) and Louisiana Downs ($5 million, +19%). The only laggard besides Horseshoe was Sam’s Town, down 14% to $5 million. Think how much worse that could be once smoking gets snuffed.

Circa Sports is making headlines regarding the WNBA All-Star Game and not in a good way. A blunder by Circa oddsmakers moved the line 53 points. Explains ESPN, “The 53-point movement was the largest shift that multiple veteran bookmakers could ever recall, and it wasn’t caused by any attempt at corruption or by a rush of big wagers. Instead, it was simply a mistake by an oddsmaker who was short on time.” Circa was in a hurry to get the first over/under on total points scored up on the boards and haste made waste. The sports book director was inspired by high point tallies in previous, meaningless all-star games. What he didn’t take into account was that the WNBA all-stars were facing the U.S. Olympic team. As Las Vegas Aces coach Bill Laimbeer recounted, “Normally everybody is kind of goofing around. That’s not what USA Basketball wants. USAB wants a very competitive game.” (They got it, all right. The All-Stars embarrassed the Olympians.)

For a while, the Circa line spiraled upwards, until other, saner books began to prevail. The Westgate Las Vegas Super Book was taken in initially, then ratcheted its over/under down 32 times, finally deciding upon 197. Bettors certainly weren’t skeptical. “We have more money on the over than the under,” Super Book Risk Manager Rex Beyers told ESPN. That was good news for those who took the under (the final total: 178 points). To its credit, Circa honored all bets, which just goes to show that Derek Stevens is a george in a world of stiffs.

Michael Jordan‘s 80-foot Catch 23 yacht graced the Atlantic City marina this week. His Airness was in town for the Quest For The Ring fishing tourney and Jordan obliged by hauling a 70-pound white marlin. That was hardly the biggest fish caught (a 290 big-eye tuna took that honor) but a good time was seemingly had by all, even if Jordan appears to have given casinos a wide berth, at least until Saturday when everybody repairs to Hard Rock Atlantic City for the award ceremony. Elsewhere on the Boardwalk, Showboat has all the action, including an ‘animal-free’ circus, a vegan food festival and an auto show. On a less-salubrious note, smoke is back, thanks to Gov. Phil Murphy‘s lack of spine. Reports our A.C. bureau, “Already, the smoking is trouble, as I try and avoid the heavy smokers playing the slots.” Sensible advice.

In a development that Stewie Griffin would call “deliciously absurd,” the state of Missouri has taken riverboat casinos (already just buildings in moats) to a new level of preposterousness. It will allow Century Casinos to move ashore in Caruthersville, provided that the casino sits atop a container of 2,000 gallons of water. You can’t make this stuff up. It’s the logical—if ludicrous—endgame to the political triangulation whereby prudes both liberal and conservative alike are persuaded to take that icky-poo casino tax money so long as a condom of H2O surrounds the nefarious gambling. Adds Century, “There is currently no other hotel situated in downtown Caruthersville,” which is like saying you have the tallest building in Mogadishu. By the way, if you’re a fan of Ozark, don’t believe anything it says about the Missouri casino industry. It may be silly at times but it’s not corrupt.

In not-such-good news for the hospitality industry, over half of former workers surveyed wouldn’t go back even if you paid them more. They just don’t like their old jobs. The work is too taxing and the benefits too few, they tell Joblist. “The obvious implication is that if firms can’t expand as planned, the outlook for growth will be weaker,” said economist James Knightley. No kidding. Hotels and restaurants are bearing the brunt of the impact, a scenario that even Las Vegas is experiencing.

Jottings: Louisiana has issued its first DFS license and it goes to—surprise, surprise—DraftKings. The company celebrated by offering $3 free-play credits … The New Pioneer in Laughlin is on the market again. Owner Ray Koroghli wants $39 million for the grind joint. Anybody think he’ll get it? … The Australasian Gaming Expo is down for the count two years running. An upsurge of Covid-19 in the Sydney area has led to an extended lockdown, clocking the trade show … The Las Vegas Review-Journal continues to beat the drum for an Oakland Athletics relocation with a steady stream of above-the-fold, front-page headlines about anything and everything concerning the A’s. Readers of the paper’s online edition, however, got quite a jolt today from this banner: “Nevada trips discouraged.” Seems the Los Angeles County Health Officer finds the Coronavirus rate in Clark County “concerning.” Already the federal government has labeled Sin City a “sustained hotspot” for the virus. Anti-vaxxers are the root of the problem although Gov. Steve Sisolak‘s inaction could make matters worse. And when Nevada tourism catches a cold, convention business goes into a coma.