Category: Casino News

Scarcely had the hot air cooled on Penn Entertainment‘s announcement that it was doubling the capacity of M Resort than word trickled out—via Vital Vegas—that Penn is in talks too sell the locals-oriented property to MGM Resorts Entertainment. It would be a radical shift in direction for Leo the Lion, who specializes in category-killer destination properties. But it’s more interesting in what it says about Penn, a company that has apparently lost its stomach for Sin City. It flailed and failed at the Tropicana Las Vegas and is now set to quit town altogether, it would appear. The sale proceeds would undoubtedly be channeled into Penn property upgrades in Illinois and Ohio. And M Resort is a relatively minor contributor to Penn’s overall coffers. But to quit Las Vegas at this juncture in order to double down on Joliet and Aurora seems like a questionable business decision indeed.

Continue reading No ‘M’ in ‘Penn’; A Royal mystery; See Vegas and die

Most people wouldn’t spend Christmas Day in a casino or two but our East Coast correspondent did. He reports, “At the Golden Nugget on Christmas, Chart House, Lillie’s Asian, the Grotto (Italian), Michael Patrick’s coffee shop, Bean & Bread for breakfast sandwiches and light bites, and the Chairman’s Club lounge were open. At Bally’s, the valet parking closed to the intake of vehicles at noon, rather than the usual 5 p.m. Sunday. Their (alleged) VIP lounge was closed all of the weekend. The three restaurants on their sixth floor were closed. The pizza place was closed. If you want Dunkin Donuts or a simple sandwich, you’re in luck, otherwise go somewhere else for food.

“We had our ‘strange’ Christmas this year,” our reporter explains. “For the first time, we stayed in Atlantic City for Xmas, starting Friday for three nights. Friday started off with rain and strong wind, then our first snow of the season, followed by a ‘flash freeze’ in the afternoon (good reasons to not live in New Jersey). When we got to Golden Nugget, the valet intake was like a wind tunnel. A visit to Hard Rock included early dinner at their lounge. We went back to Golden Nugget and went to their Chairman’s Lounge at 10 p.m. as it was open until 11 p.m. on Friday. It was almost completely empty, as the photo shows, and it was so very cold due to to all of the windows.

Continue reading A Boardwalk Christmas; Mega-Jottings

It’s time to reward those who have been nice and offer appropriate gifts to the naughty. So, without further ado, we play Santa Claus to the casino industry …

Continue reading Christmas wishes

Regulators in Massachusetts struck an unsatisfactory compromise with Penn Entertainment. The latter’s Plainridge Park was granted a sports book license, conditional upon a suitability investigation of Barstool Sports founder—and the new face of Penn—Dave Portnoy. “We are very comfortable with there being an investigation,” Penn CEO Jay Snowden told regulators, somehow managing to keep a straight face. Snowden probably left his Barstool T-shirt, which he wears around the office (it’s a fact), in the dungeon where he plays submissive to Portnoy’s dominatrix. Why the Massachusetts Gaming Commission should need to probe into Portnoy is a mystery to us. His unsuitability is out in the open for everyone to see. How is it that Steve Wynn could not get a Bay State gaming license but Portnoy might? We sense a double standard at work. A license, once issued to Penn, will be very hard to claw back.

Continue reading Penn problems; Maryland sports bets boffo; Oscar pix

November was a metaphorically warm month for Atlantic City, whose casino revenues grew 4% from last year, reaching $214.5 million. Spoiler alert, Borgata was way out front with $55 million, leaping 14%. Hard Rock Atlantic City dimmed 5% to a still-impressive $35.5 million and Ocean Casino Resort (pictured) jumped 9% to get uncomfortably close to second place at $31 million. Harrah’s Resort faded 6% but still led the Caesars Entertainment threesome with $21 million. Caesars Atlantic City banked $19 million, a 16.5% surge, while Tropicana Atlantic City climbed 2% to a hair over $19 million. Among the have-nots, Resorts Atlantic City fared best, climbing 3% to $12.5 million. Golden Nugget ceded 5% to hit $11 million and Bally’s Atlantic City sank 10% to land in last place with a symmetrical $10 million. Yup, those Chicago revenue projections sure look on the money. (Not.)

Continue reading Atlantic City hops; NV regulators take a dive; Vagina monologue