Given a slow news day, let’s finally catch up with our East Coast bureau and see what’s been happening on the Boardwalk. First off, demerits to Ocean Casino Resort for contributing in its own small way to climate change by having three open-air, gas-fired flame pits blasting forth during a light snowfall. Nearby, at the Showboat, it appears that Bart Blatstein needs to put a bit of stick about, as construction of his (much-needed) water park presently looks unlikely to finish by Memorial Day, when you expect him to want to be good and ready.
However, the biggest news seems to be a kerfuffle between Mayor Marty Small (D) and the city council over the former site of a (one-way) people mover to the site of the Sands Casino. It also had side access to the Claridge Hotel, part of Bally’s Atlantic City. Since the Sands is long gone, the site is up for repurposing. The competing proposals are for a restaurant or an amusement ride: “The great Mayor Smalls has supported the amusement ride.” The council nixed that idea, since the ride would “overfly” both the War Memorial and the Boardwalk. To add insult to mayoral injury, council members took pains to note that the site hadn’t been well-maintained by its owner.
Our correspondent had a close encounter of the pleasant kind with Bally’s General Manager Michael Monty (above). We asked for a selfie, the perspicacious Monty replied by querying if our reporter was the guy who took pictures of “broken stuff”—but posed anyway. What a sport—and he seems cognizant that he’s got a fixer-upper on his hands. One hopes he doesn’t run afoul of glum new CEO Robeson Reeves, although January’s grosses augur well for his immediate future. “I asked if he had worked in Rhode Island and he said yes. He told us he goes home early when he can to spend time with his three young children and he showed us several pictures of them.” Incidentally, both Bally’s and the Golden Nugget are being very George with gift cards these days. It seems ungallant to say so but they could use the extra business.
Finally, we shed a tear for the Press of Atlantic City, which is curbing publication to three times weekly. Also, you will no longer get it delivered but have to rely on snail mail, making the paper even less relevant. The Press used to foster some fine journalism but seems to be in a slow dance to the killing ground. (We stopped citing it once it became paywalled. Ours is a low-budget operation.)
Ohio leapt like a puppy in January, its casinos grossing $197 million, a 15% improvement on Omicron-impaired 2022. MGM Northfield Park led the charge with $24.5 million (+21%), followed by Jack Cleveland‘s $23 million (+25.5%), with Hollywood Columbus a hairsbreadth behind (+13.5%). Hollywood Toledo banked $19 million (+9%) and Hard Rock Cincinnati reached $22 million, up 7.5%. It was an especially good month for Churchill Downs, whose co-owned Miami Valley Gaming thundered into second place among racinos with $19.5 million, a 24.5% surge. Scioto Downs still grossed a respectable $19 million, up 10%. Jack Thistledown made $15 million (+11.5%) while Belterra Park had to be content up $7 million, a 4% hop. Hollywood Dayton brought home $13 million (+10%) and Hollywood Mahoning Valley vaulted 22% to $13.5 million.
In its first month, sports betting was a roaring success, garnering $209 million in revenue on over $1 billion in handle. Or rather, it would have been a success had operators not given away the store, blowing $320 million on promotions. With those kind of dollars being made (and spent), it’s no wonder Gov. Mike DeWine (R) wants a bigger tax levy on operators. FanDuel dominated with 50% market share and $103 million in revenue. DraftKings followed with $55 million, then BetMGM with $22 million. Bet365 engendered $8.5 million, while Caesars Sportsbook trailed with $4 million, outperformed by Barstool Sports ($5.5 million). All other operators combined for less than $8 million. The action was almost entirely online, with retail outlets scaring up only $3 million at the wickets. Still, the Buckeye State is going to be a lucrative market once providers get their promotional impulses under control.
What are the odds that leadfooted Chicago Mayor Lori Lightfoot (D) lands a consulting deal with Bally’s Corp. now that Windy City voters have had enough of her? She finished a dismal third in yesterday’s primary, in which the electorate was more concerned about Chicago’s crime problem than city pension funds, which Lightfoot misguidedly thought was a campaign issue. Her awarding of the city’s casino concession to Bally’s Chicago in return for a $40 million upfront payment was one of the most egregious pay-to-play arrangements we have ever seen and spoke volumes about Lightfoot’s cupidity. Windy Citizens are stuck with the casino but it’s certain that Lightfoot will otherwise be quickly forgotten.
Lori Lightfoot was her own worst enemy. Her foul language, lack of gratitude toward political allies and community supporters, and a seeming delight in political enmity ultimately left her isolated and ineffective as a leader.