It’s always too soon to celebrate the demise of smoking in Atlantic City. However, clean-air advocates (and customers) have reason to feel guardedly optimistic today. Ally Mikie Sherrill (D, pictured) smoked status-quo champion Jack Ciattrelli (R), 56% to 43%. Despite character flaws and serious bread-and-butter concerns by voters, Sherrill prevailed. It was predicted to be a nail-biter and ended up a laugher.
Continue reading Election Special
“Solid” was Wall Street‘s consensus on 3Q25 at Station Casinos. The company came in slightly under Deutsche Bank‘s targets but analyst Steven Pizzella still seemed pleased. Revenue was $486.5 million and Station was noted to have weathered construction upheavals at several properties, as it upgrades its product. Restaurant business was good, with F&B revenues hopping 2.5%. Thanks to room disruption at Green Valley Ranch, hotel revenues sagged 8%. And, for the first time, we heard that debility on the Las Vegas Strip might start dampening locals-casino results.
Continue reading Best of the Rest
Barry Jonas called it. His report on MGM Resorts International‘s 3Q25 earnings was headlined “The Summer the Strip Turned Pretty … Bad.” Ouch. But true. He kept a “Buy” rating on the stock but shaved a dollar off his price target, now $47/share. Jonas reported that MGM is leaning on high-end business, hoping for stabilization in 4Q and growth next year. Is CEO Bill Hornbuckle seeing the same indicators we are? Because the latest “Beige Book” for the Upper Midwest was pretty dire. If the rest of the U.S. is suffering comparably, MGM is going to feel the pain.
Continue reading Out Like a Lamb
It’s a good thing that Las Vegas has diversified its economy since 2008. Were that not the case, the subpar performance of the Las Vegas Strip would be pulling everyone down with it. But September’s gambling grosses show resilience in the locals-casino sphere … and the weakness of the Strip starting to infect Downtown as well.
Continue reading Locals Rise, Strip Sinks
Be careful what you wish for, NBA Commissioner Adam Silver, you are liable to get it. Silver wanted sports betting and, over the last seven years, has seen the consequences come home to roost in his league. Whereas the NFL cleaned up its sports betting problem (consisting mainly of player stupidity) fairly expeditiously and Major League Baseball comes down like a ton of bricks on offenders, the NBA remains dogged by scandal. (Can you say “Jontay Porter“? We thought so. How about “Malik Beasley“?)
Continue reading Foul Play
Not! It’s time for Stupid Government Tricks, in which the guvmint blunders into gambling oversight, usually with disastrous consequences. First up is Chicago Mayor Brandon Johnson (D), who wants to double down on Illinois Gov. J.B. Pritzker (D) and his usurious tax on sports betting handle. Seeing all the money the state stands to make (and possibly affrighted by the specter of predatory prediction markets), Johnson proposes a 10.25% tax on OSB revenue. It’s all part of a tap dance to cover a gaping budgetary hole. The target amount? $26 million a year.
Continue reading … And They’re Here To Help
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.
Continue reading Atlantic City Levels Off
See that fancy-schmancy vision of an upgraded MGM Empire City? Well, it ain’t happening. In the shocker of the year, MGM Resorts International yanked its New York City casino bid from consideration yesterday. What the company said was less interesting than what it didn’t say: It’s essentially pulling the plug on casino operations in the Big Apple altogether.
Continue reading Shocker from MGM
Having been run from pillar to post at Global Gaming Expo all week, we’re still in recovery. Ergo, we turn the bulk of this installment over to our Atlantic CIty bureau. What follows are a pair of letters sent to (but unlikely to be printed in) The Press of Atlantic City. Please enjoy them.
Continue reading Letters to Atlantic City
Surprisingly few victory laps were taken after Las Vegas Strip gambling revenues spiked 5.5% in August, helped by tighter hold. Perhaps it was the simultaneous, inconvenient disclosure the visitation slumped 6.5% that same month which quelled exuberance. Sin City is in a world of hurt, unlike regional casinos, and it’s not easy to spin right now. To the numbers …
Continue reading A Desert Mirage?