Category: Casino News

Defying a larger trend, Massachusetts closed out 2022 with strength, its casino revenues up 8% to $103 million. The big dog, Encore Boston Harbor, leapt 10% to a boffo $68.5 million, beating Wall Street expectations. MGM Springfield‘s gain was more modest, 1% that pushed it to $22.5 million for the month. Plainridge Park jumped 11.5% and grossed $12 million, continuing to manifest a recovery against the inroads made by nearby Encore.

Gaming revenues dipped last month in Indiana, achieving $204 million, a 3.5% year/year decline. Hard Rock Northern Indiana ($34 million, +4%) continues to ransack its competitors. Horseshoe Hammond was closest, grossing $26 million but down 13.5%, while Ameristar East Chicago tumbled 13.5% to $16.5 million and Blue Chip (above) slipped 10.5% to $10.5 million. Caesars Entertainment‘s two Hoosier State racinos headed in opposite directions. Horseshoe Indianapolis was up 2% to $28.5 million, while Harrah’s Hoosier Downs was down 6.5% to a still-healthy $20 million. Defying the downward trend was Bally’s Evansville, jumping 9.5% to $15.5 million, while Belterra Resort was flat at $8 million and French Lick Resort was also level at $7 million. Caesars Southern Indiana was also steady at $21 million, while Hollywood Lawrenceburg slid 11% to $13.5 million. Rising Sun didn’t rise: -8% to $4 million.

Who in the world is Brett Mufson? Well, he’s the new president and CEO of Fontainebleau Las Vegas. Other than that, Jeffrey Soffer‘s company ain’t tellin’ much. We are informed that “Mufson’s instrumental leadership helped steer the company’s re-acquisition of the property along with the reinvigoration of Soffer’s original strategic vision for Fontainebleau’s brand and Fontainebleau Las Vegas.” Yes, but how does that qualify Mufson to steer the Las Vegas Strip‘s most expensive megaresort, particularly in such a cutthroat market? That question is begged.

Whilst 2022 may have come in like a lion for casinos, it’s going out like a lamb, despite an extra weekend day last month. Revenues in Maryland dipped 4.5% to $165 million statewide in December, still 11% better than the comparable period in 2019 (i.e., Just Before the Shyte Hit the Fan). Two casinos gained traction: Hollywood Perryville was up 1.5% to $7 million and Ocean Downs galloped 7% to $7 million. Everyone else was revenue-negative, even MGM National Harbor, down 7% to $69.5 million. Maryland Live ceded 4.5% but stayed close at $60 million. Horseshoe Baltimore was 1.5% down for its usual $17 million, seemingly the hard ceiling for this snakebitten property. Rocky Gap Resort slipped 4% to $5 million.

Back on Dec. 21, we reported on nascent Oscar odds. What a difference 10 days makes. Babylon, “an early favorite to take home hardware at the 95th Academy Awards” according to one betting site, is spiraling from contention, thanks to its total implosion at the box office. Award-mooching Empire of Light also collapsed, meaning that both its star (adorable Academy fave Olivia Colman) and Babylon termagant Margot Robbie can kiss their Best Actress chances goodbye. Honors momentum continues to fill the sails of Everything Everywhere All At Once, Irish dramaThe Banshees of Inisherin and—I dread to say it—the pompous Women Talking. The first and third should receive last-minute Oscar tailwinds from the March 4 Independent Spirit Awards, and Banshees will likely get a Golden Globes lift on January 10.