Casino revenues in Maryland continue to trend just a bit favorably, with a 2% increase in November—mostly on the back of one casino—reaching $163.5 million overall. Cordish Cos.’ Maryland Live ceded 2% for a $57 million tally. MGM National Harbor hopped 5.5% to achieve $71.5 million and even Horseshoe Baltimore had a good month, gaining 4% to hit $16 million. Ocean Downs was flat at $6.5 million, Rocky Gap Resort was down 1% to $5 million and Hollywood Perryville slipped 3.5% to $7 million. When consumer dollars are constricting, brand names prevail, obviously.
It looked as though sports-betting license approvals were going to go swimmingly in Massachusetts … until Barstool Sports came through the door. Its marketing push toward Generation Z was a particular subject of contention. “You’re gonna have a Barstool’s-branded sports bar on the premises, according to the proposition that you guys are putting forward,” bristled Massachusetts Gaming Commission member Eileen O’Brien. ” I’m concerned about some of the historical marketing associated with Barstool.” Chairwoman Cathy Judd-Stein said that Penn Entertainment‘s non-Barstool approach to the problem-gambling issue was “excellent.” She turned to the elephant in the room, cretinous Dave Portnoy, by saying, “So now we have an obligation to reconcile what is very available publicly as to Barstool and really the significant personality attached to Barstool and what we’re gonna do about it as we think about this application.”
Penn attempted to finesse the Portnoy complaint, with Senior Vice President Erin Chamberlin saying Barstool’s handling of disordered gambling is “a very innovative approach to responsible gaming. It speaks to younger people in a different type of voice that I think resonates with them and really makes it stand out a little bit differently.” The Barstool kerfuffle delayed but will probably not derail Plainridge Park‘s application for an OSB license.
Opening arguments were heard yesterday in Pasadena in a RICO case against disgraced casino boss Steve Wynn. The hearing was procedural, as Angelica Limcaco, a former Wynncore employee, is seeking to have a lawsuit against Wynn Resorts executives and Wynn himself reinstated. Limcaco contends she was fired for blowing the whistle on Steve Wynn’s promiscuous sexual misconduct. Her lawsuit against the various and sundry Wynns was dismissed in April 2019, under somewhat dubious circumstances. The dismissal was handed by a colleague of federal magistrate judge Elayna Youchah (ruling on a motion Youchah had filed herself), a former Wynn attorney who had been conveniently named to the bench at the urging of then-Nevada Assembly Speaker Barbara Buckley (D), herself a beneficiary of some Wynn Resorts campaign largesse. The whole affair has the faint odor of conspiracy—too faint for the appeals court, which appeared very skeptical of Limcaco’s appeal. Pity.
Since we slagged Venelazzo owner Apollo Management yesterday, it is only fair that we report that it approved $11 million in bonuses for resort employees ($1,500) in recognition of an exceptionally good year at Shel’s Place. Mind you, Apollo execs light their cigars with $11 million but the gesture is tangible, appreciated and a major step in the right direction. “It’s my great honor to lead this spectacular group of team members into the bright future ahead of us,” said CEO Patrick Nichols, who was moonlighting as Santa Claus.
In yet another real estate move, Station Casinos has forked over $55 million for 67 acres that will be part of its long-bruited “Losee Station” (they’ll come up with a better name, surely) project on the North Las Vegas beltway. In the past, Station has leapfrogged far ahead of residential development, which is why Aliante Station failed. Not so this time. The 600-room resort will be part of the Tule Springs residential master plan, one that will offer numerous amenities in addition to a casino (and possibly a Wildfire-branded tavern, judging by the disclosure). As with its Durango Station land sale, Station is sheltering under the Cone of Silence, for reasons we cannot fathom.
Jottings: Encore Boston Harbor now belongs to Realty Income, which just closed on a $1.7 billion sale and leaseback. The all-cash transaction fattens Wynn’s coffers and comes with $100 million in annual rent, over a 60-year lease term … Cashless gambling is now a feature of Resorts World Las Vegas, which also offers remote player signups. This should ease the growing pains of Resorts World’s touchless-payment system … Not only are several of Star Entertainment‘s licenses in peril, the Australian casino company may be facing insolvency. It has been informed by AUSTRAC that “innumerable” instance of money laundering and other infractions open it up to severe financial penalties. Couldn’t happen to a more deserving company … Oklahoma Gov. Kevin Stitt‘s controversial compacts covering the United Keetoowah Band of Cherokees and Kialegee Tribal Town are safe for now. A federal judge has ruled that four resentful tribes lack standing to oppose them … Added pressure on Texas Gov. Greg Abbott (R): A new poll shows 65% of Lone Star State voters support regulated casino gambling. While 63% are in favor of casinos but only 50% back megaresorts, the favored vehicle of casino advocates. Less, to the good, online sports betting only mustered 39% backing. At least Texas came justthisclose to being the only state in the U.S. with three senators.