After a good summer, gambling winnings in Atlantic City have plateaued in September, achieving $230.5 million. The coffee achiever of the Boardwalk was Ocean Casino Resort (above), catapulting 39% to $39.5 million. Hard Rock Atlantic City was still ahead at $45.5 million (2%) but that might be too close for comfort. Borgata led with $63 million but had the flattest grosses in town.
Some perverse congratulations go to Bally’s Atlantic City, plummeting 19.5% to $10 million and change. New York State gaming regulators might want to look to its inept ways of doing business before handing Bally’s Corp. a license to do the same in New York City. Or not. It’s their funeral. Golden Nugget actually snatched last place away from Bally’s, grossing a bare $10 million (-10%). All the grind joints slumped, with Resorts Atlantic City slouching 5.5% to $13.5 million. The Caesars Entertainment trio were all revenue-negative too (and barely outgrossing Hard Rock combined), with Harrah’s Resort sliding 12% to $16.5 million. Caesars Atlantic City tumbled 19%, also to $16.5 million, while Tropicana Atlantic City fell 9.5% to $16 million. Given that three casinos are carrying the market, perhaps a few closures might not be bad for the overall health of Atlantic City.
Luck—and NFL results—were with the players last month. Books held an unimpressive 7.3% as win toppled 19% to $90 million, despite a 3% uptick in wagering to $1.1 billion. FanDuel was paramount with $44 million, unseating DraftKings and its $22.5 million. BetRivers fell below the $1 million Mendoza Line whilst BetMGM grabbed $4.5 million and Fanatics did better still: $7 million. Caesars Sportsbook also bested MGM with $5 million and ESPN Bet eked out $2.5 million. (Wasn’t this the NFL season that was going to turn everything around for Jay Snowden‘s boondoggle?)
iGaming was best for New Jersey, up 17% to $243 million. DraftKings edged out FanDuel, $59 million to $57.5 million, while BetMGM was nearby with $51 million. Caesars Palace Online conquered $22.5 million and the rest were all bunched together toward the bottom: BetRivers ($8 million), Fanatics ($5 million) and Hollywood Casino ($2.5 million).
It was a very similar scenario next door in Pennsylvania. iGaming flourished (27% up) as terrestrial casinos dipped a point and sports books got clobbered. Outside of the little casinos, the only standout month belonged to Mount Airy Resort, jumping 15.5% to $18 million. Parx was flat at $46 million, still far more than enough to dominate the Philadelphia market. Philadelphia Live was down 3% to $20.5 million, Rivers Philadelphia slumped 7% to $17 million and Harrah’s Philadelphia leveled off at $10 million. Valley Forge Resort also flattened at $11 million. Mohegan Pocono slid 9% upstate to reach $15.5 million and Wind Creek Bethlehem dipped 5% for a still-awesome $40 million. Presque Isle Downs gained 4% for $8 million, Hollywood Penn National declined 6% to $12 million and Lady Luck Nemacolin was flat at $2 million, ending an enviable run of gains.
In and around Pittsburgh, cloacal Rivers Pittsburgh upped 3% to $27 million, staving off Pittsburgh Live ($9 million, 1.5%) and Hollywood Meadows ($13.5 million, -13%). Hollywood York hopped 8% to $8 million, Hollywood Morgantown leapt 12% to $6 million and Parx Shippensburg also jumped 12% for $3 million. iGaming brought in another $286.5 million, overshadowed by $85 million haul, rivaled only by DraftKings‘ $75 million. Hollywood Casino captured but a tenth as much, while BetRivers nabbed $43 million. BetMGM took in $35.5 million and Caesars Palace Online did $14 million.
Sports betting saw handle climb to $851 million. Books kept just $72 million (or 8.4%) of that, least of all Caesars Sportsbook with only $2 million. FanDuel was tops with $32 million and DraftKings had half as much. BetMGM and BetRivers each made $4 million and ESPN Bet did another $3 million.
Before we head to the Midwest (and South), a few words about Maryland, where casino winnings nosed down 5%. The only outperformer was—believe it or not—Horseshoe Baltimore, which gained 6.5% for $14 million. MGM National Harbor led with $63 million (-5.5%), closely segued by Maryland Live‘s $55 million (-8%). Ocean Downs dipped 4% to $8.5 million, Hollywood Perryville slipped 4.5% to $6.4 million and Rocky Gap Resort showed more signs of a turnaround, up 5% to $4.5 million.
Also feeling a headwind was Indiana, which dipped 4%. The outstanding performer was little Rising Sun, jumping 12.5% to $3 million. The underperformer of the bunch was the casino that had the most to lose: Hard Rock Northern Indiana ($32 million, -13.5%). Nearby Horseshoe Hammond was absolutely flat with $19.5 million. Also in the vicinity were Ameristar East Chicago ($11 million, -9.5%) and Blue Chip ($10 million, flat). Around Indianapolis, secondary racino Harrah’s Hoosier Park ($18 million, 4.5%) outperformed Horseshoe Indianapolis ($22 million, -3%). Terre Haute Casino gained a point for $11 million, French Lick Resort slipped 4% to $6 million and tribal Caesars Southern Indiana remained an audience fave ($18.5 million, 3%). Belterra Resort tumbled 12% to $6 million, Bally’s Evansville slipped 7% to $13 million and Hollywood Lawrenceburg dropped 6.5% to $11 million.
In terms of Hoosier sports betting, $532 million in handle boiled down to $43 million of win. ESPN Bet was barely in the picture with $1 million and BetRivers totally out of it. FanDuel outdueled DraftKings $15 million to $10 million, while bet365 and BetMGM each did $3 million, which left $2 million for Caesars Sportsbook.
New product drove the bus in Illinois, which was up 14% … or 1% on same-store basis (i.e., without newbies Wind Creek Southland or Fairmont Park). Although not technically a “new” casino from Wall Street‘s POV, Hollywood Joliet continued to rejoice in its new environs (its old incarnation is shown above), rocketing 48% to $11 million. Harrah’s Joliet felt the pinch, to be sure, plunging 17% to $8 million. Hollywood Aurora suffered a bit too, off 3.5% to $8 million. Also experiencing a sting was Hard Rock Rockford, tumbling 13% to a surprising $12 million. Even Rivers Des Plaines dipped 1% to $43 million. Dowager Grand Victoria, however, defied her age with a 14% jump to $11 million. Bally’s Casino downtown achieved a 7% improvement to $11 million whilst The Temporary at American Place was flat at $9.5 million. Wind Creek hung onto a solid second place with $16 million and Fairmont Park scratched out a million.
Leaving Chicagoland behind us, we find Par-A-Dice still unresolved as to where it will eventually land when it goes ashore but up a point to $5 million. Bally’s Quad Cities leapt 9.5% to $5 million, Harrah’s Metropolis slipped 4% to $4.5 million, and Alton Belle gained 2% to $3 million. DraftKings Casino Queen, the pride of East St. Louis, dipped 2.5% to $6.5 million. Walker’s Bluff Casino contributed $3 million in a 12-point jump and Golden Nugget Danville dropped 5% to $3 million.
Across the Big Muddy, in Missouri, casinos did 4% than last year. The big news was a 19.5% vault by Harrah’s North Kansas City, which achieved $15 million at the expense of its rivals. Ameristar Kansas City was still tops with $16 million but ceded 4.5%. Argosy Riverside dipped 3% ($12 million) and Bally’s Kansas City fell 8% ($10 million). Heavy bonusing was clearly the order of the day at Caesars Entertainment. Witness the 25.5% surge of Horseshoe St. Louis ($13 million). Even so, the former Lumiere Place stayed stuck in last place in St. Louis while Hollywood St. Louis gained 4% of its own ($21 million). Ameristar St. Charles remained #1 with $23 million (-1.5%) and River City gained too, up 5% to $21.5 million. Better luck next time, Horseshoe.
Outstate, slots-only Mark Twain Casino did an improbable 13% leap, to $3 million, as St. Jo Frontier Casino slipped 2% to $3.5 million. Century Caruthersville continued to clean up, jumping 21% to $4.5 million, as Century Cape Girardeau slackened ($5.5 million, -5%). Isle of Capri Boonville also manifested heavy Caesars promo activity (no other explanation makes sense), hopping a good 16% to $8 million.
Which leaves us with the Pelican State. Louisiana casinos ceded 2% after a bounce-back period. L’Auberge du Lac continued a good run on Lake Charles by gaining 5% to $24 million, narrowly besting Golden Nugget‘s $22 million (-10.5%). Delta Downs was flat at $12.5 million while Horseshoe Lake Charles sank 26.5% to $5 million and bottom-feeder status, a strange fate for the newest casino in the market. The supposed “outperformer” would have to be ancient Belle of Baton Rouge, which escalated 589.5% to all of $700K. Queen Casino merely hopped 6% to $7 million and L’Auberge Baton Rouge was up 5% to $12.5 million.
Heavy promo action was evident in Bossier City, where Horseshoe Bossier City vaulted 17.5% to $9 .5 million, past newcomer Louisiana Live ($8 million) and taking share from every other casino. Despite a sudden plunge of 28%, Margaritaville (can’t beat that brand) clung stubbornly to first place and $10 million. Bally’s Shreveport toppled 25.5% to $5.5 million and Sam’s Town lost 21.5% to $2.5 million. Also ravaged were Louisiana Downs ($2.5 million, -17%) and Boomtown Bossier ($3 million, -12%). Outlying Evangeline Downs was steady at $5.5 million.
Downriver in New Orleans, newness continued to work in favor of Caesars New Orleans ($19.5 million, 21%). No one was revenue-negative, not even Fair Grounds ($3 million, 3.5%). Not Boomtown New Orleans ($7 million, flat), nor Amelia Belle ($2.5 million, 8%) and least of all Treasure Chest ($12 million, 10%), the best of the rest.
Gridiron Grumbles: This just in … the Las Vegas Raiders stink to high heaven. As this is being typed, the Kansas City Chiefs are toying with them, calling off the dogs in the third quarter after going up 31-0. The Silver & Black have no offense, no defense, no nothing. And the Chiefs continue to show how little they think of the Raiders by calling esoteric trick plays. (And backup QB Kenny Pickett just fumbled his first snap.) Between Pete Carroll‘s “win now” attitude and refusal to treat this campaign as a rebuilding year, the man seems seriously in denial of how bad a situation he inherited. If anybody put down money for the Raiders to make the playoffs, that was easy money for the sports books.
You are too right about the Raiders. Was a little hard to watch. The team they have sucks, period. So does most of the coaching. And it seems like the ref calls were to the Raiders advantage, and that did not even help.