Category: Casino News

Adding more and more casinos isn’t ‘growing the pie’ in Pennsylvania. Instead, the bottom fell out of September’s numbers, which were 8% below 2019 ones (i.e., the good old days). Against last year, they were 1% lower, for a tally of $280 million. Parx Casino, the Keystone State’s only smoke-free gambling den, was 5% off last year’s pace but still was rolling in dough to the tune of $49 million. Next best in the Philadelphia market was Philadelphia Live, having picked itself up off the canvas, posting a 1.5% gain to $18.5 million. Rivers Philadelphia (above) fell 10% to $17 million, Harrah’s Philadelphia slid 11% to $13 million and Valley Forge Resort brought up the rear with $11 million, a 5% slippage. Outstate, the runaway winner was Wind Creek Bethlehem, up 2% to $43 million and a great success story for tribal gaming.

In the Pittsburgh area, Rivers Pittsburgh clobbered the competition with $30 million (-3%), as Hollywood Meadows also ceded 3% to hit $16 million and Pittsburgh Live gained 1.5% for $9 million. Smokers flocked back to Mount Airy, which jumped 9.5% to $17 million, whilst Penn National tumbled 11.5% to $14 million. Presque Isle Downs was down 4% to $10 million, Lady Luck Nemacolin plunged 17.5% to $2 million, Hollywood York vaulted 20% to $9 million and newbie Hollywood Morgantown contributed $5 million. Returning to Philadelphia Live for a moment, since 2019 it has cost Harrah’s 34% of its revenue and Rivers Philadelphia 28%, while leaving Parx unaffected. Really, how wise was it to site five casinos in the greater Philly area? Not very.

Continue reading Saturation in Pennsylvania; Makeover for Venelazzo

Landing a meeting with Caesars Entertainment CEO Tom Reeg, as well as several top execs, J.P. Morgan analyst Joseph Greff didn’t hear so much as a peep about the mooted Las Vegas Strip asset sale, which he assumes is on hold “given present financing terms for sizable asset sales and that CZR retains until market conditions improve.” Even so, Reeg & Co. asserted that “demand remains strong” and that neither macroeconomic conditions (read: inflation) nor gas prices were putting a dent in business. They expect even better things from next year thanks to Formula One, which they say will bring in “hundreds of thousands” of tourists, just as it drove 300,000 people to visit Singapore. It will also shore up one of the traditionally weakest weekends of the year.

Continue reading Caesars bares all; Midwest flattens; Adelson pledges neutrality

Alas, today’s top story is of the “If it bleeds, it leads” variety and is written out of sheer necessity, not desire. A thirty-something Latino man, Yoni Barrios, is in custody after going on a knife-wielding spree in front of Wynncore. It seems that the individual, who was packing a large kitchen knife, didn’t take well to being spurned in his request to have his photo taken with a group of showgirls. The latter, who were employed as Wynn Resorts greeters, were among the eight people who were subsequently stabbed, two fatally. Several tourists also fell victim to this Sin City iteration of Jack the Ripper, who fled the scene only to captured in front of Venelazzo, slashing one person during his attempted getaway. The assailant’s sleeves were coated in blood, so he’ll have a hard time explaining that away in court. We thought we’d seen the last of the Las Vegas Strip as a lawless frontier once tourists starting returning en masse but evidently not. And with that … words fail us.

Continue reading Killing spree on Strip; Tilman’s newest erection revealed

While Bally’s Corp. may not be the laughingstock of the casino industry, it isn’t for want of trying. You would think that Bally’s Atlantic City (above) would want to pimp nearby Bally’s Dover Downs to its customers. Instead it sent a lengthy mailer touting all the great deals to be found … at Bally’s Vicksburg. We mean, if you’ve driven to Atlantic City regularly, what’s a quick little runout to Vicksburg, the vacation capital of Dixie? (Not.) Don’t get us wrong. We’ve been to Vicksburg. We like Vicksburg. But it’s not exactly the destination that Bally’s customer base is slavering to be incentivized towards. Actually, Bally’s apparently needs to induce players to stay in Atlantic City anyway. Through the end of the month it’s offering room rates starting at $19 a night, though one wag suggested that was $15 too much (and yes, he’s stayed there).

Continue reading Report from the shore; Cretins win in Alabama

Casinos on the Las Vegas Strip won $660 million last month, a 5% bump over last year, as business continues to trend well into 2023. (It was also up a whopping 27% over 2019.) Strip numbers also benefited—although locals ones did not—from July having ended on a Sunday, meaning last-minute slot winnings were rolled into August. Strip slot win, $381 million, rose 6% on 11% more coin-in on an 8% hold. Table games yielded $186.5 million, also up 6% despite 5.5% lower wagering. Baccarat play eked up 2% for 1% more house win. Locals play stayed on an even keel ($250 million) with the year before, but was a sky-high +41% over pre-pandemic 2019.

Continue reading Strip buoyant, locals flat