Author: David Mckee

Enjoy these images of Rivers McCormick while you can because you’ll never see them again. Chicago Mayor Lori Lightfoot has nixed McCormick Place as a potential site for a casino, setting Bally’s Corp. and especially Rush Street Gaming down a peg but not out of the game entirely. At the same time, Lightfoot kicked the casino-selection deadline into “early summer,” which flies in the face of her stated goal of having a Windy City casino up and running by 2025. “We have spent countless hours analyzing each proposal for Chicago’s casino license and have determined Bally’s Tribune, Hard Rock Chicago, and Rivers 78 best fit the core goals we want to achieve for the City’s first integrated casino-resort,” said Lightfoot, giving the short-answer version of her decision.

“Each proposal offers economic, employment, and equity-focused opportunities for Chicago, while simultaneously enhancing the City’s cultural, entertainment and architectural scenes with world-class amenities and design. Our teams look forward to heading into discussions with the finalists and getting one step closer to bringing this decades-long project to fruition.”

Continue reading Chicago: Then there were three … ; Leaner, meaner Boyd

With one week until the Academy Awards, you still have time to get your money down in New Jersey and Indiana. (Why not Nevada, we ask?) Although its odds have narrowed significantly, The Power of the Dog (DraftKings -280/BetMGM -250) is still the picture to beat. If you feel like playing long shots (and we’re not talking about hopelessly out-of-it ones like +8,000 Nightmare Alley), there’s a serious chance the Academy could go with predictable CODA (+400/+450), which has usurped Belfast‘s feel-good mojo, moving way, way up from +2,500 (Belfast: +650/+600).

Proudly mediocre, CODA is the best Lifetime Channel Original Movie ever made but Oscar voters could split the ticket much as they did when they anointed mushy The Green Book over Best Director/Best International Film winner Roma. At this point, Power of the Dog writer/director Jane Campion remains a prohibitive (-3,500/-3,000) favorite to take home the Best Director prize, besting Belfast‘s Kenneth Branagh (+1,400/+1,400) and sentimental choice Steven Spielberg (+2,000/+1,200), who’s forsaking cinemas for streaming services after West Side Story. If there’s any movement toward an upset in this category it’s Licorice Pizza helmer Paul Thomas Anderson, tiptoeing up to +2,000/+3,300.

Continue reading Sunday Special: Coming down the Oscar stretch

Casino executives in Atlantic City continue to plead poverty (to a dwindling amen corner) when it comes to poisoning their employees with secondhand smoke. In the meantime, they’re pocketing business hand over fist. Last month saw a 43% catapult over February 2021. And even when compared to supercharged 2019, casino revenues were still 8% higher. The Boardwalk grossed $212.5 million, $154 million of that from slots on 7% higher coin-in than three years ago. Table games contributed $57 million, and both slot and table winnings accelerated from January.

Except for the Tropicana ($17 million, +8%), all casinos were up by double digits from last year. Borgata was business as usual: $53 million and a 43% jump. As one would expect, the biggest percentage gainers were Hard Rock Atlantic City ($37.5 million, +58.5%) and Ocean Casino Resort ($30 million, +58%) but Bally’s Atlantic City posted strong comparisons too ($11 million, +54%), despite being in last place. It lagged the Golden Nugget ($13 million, +48%) and Resorts Atlantic City ($13 million, +44%) among the grind joints.

Continue reading Atlantic City, Massachusetts make big gains; Hotel misery

OK, so New York State sports betting “slowed slightly” last month. Big deal. After all, there weren’t five weekends of NFL action, for starters. What’s more newsworthy is the $1.5 billion in handle that Empire State online sports betting whipped up. Admitted PlayUSA‘s Mike Mazzeo, “As big as the Super Bowl is, it is still just one game. And a slowdown in the immediate aftermath of the game is to be expected everywhere.” Besides, PlayUSA is already predicting $3 billion in nationwide wagers on March Madness, so the minor lull will be brief. New Yorkers bet online at a $54.5 million per day clip, and out of a $82.5 million gross, books kept $40.5 million (less promotions) as the state racked up $42 million in taxes … although Assemblyman Gary Pretlow (D) is making noises about a tax cut, which might actually enable New York OSB operators to post a profit.

DraftKings was second in handle ($387.5 million) but first in revenue with $30 million. FanDuel flipped the stats with handle of $568 million but only $23 million in winnings. Former leader Caesars Sportsbook took a tumble, with handle of $323.5 million and revenue of $20 million, a big comedown from January’s $59 million.

Continue reading New York $tate of mind; DraftKings gets rabies

Customer bucks continued flowing big-time in Missouri casinos last month, up 19% over 2021. The total gross was $146 million as customers spent 2.5% more per visit and came in 16% greater numbers. Almost casinos were revenue-positive (some spectacularly so) with two Caesars Entertainment exceptions, including Lumiere Place, down 3% to $11 million. Let’s hope that the Horseshoe rebranding comes with some capex reinvestment. Ameristar St. Charles (pictured) easily remained the top dog, up 5% to $23 million. Hollywood St. Louis leapt 47% to $17.5 million while sibling property River City jumped 46% to $19.5 million.

Continue reading Bounty in Missouri, penury in Macao