Category: Casino News

Late last week, MGM Resorts International unveiled its plans for a BetMGM-branded sports book at State Farm Stadium in Arizona. No budget was announced for the facility but, given the infinitesimal amount of retail wagering in the Phoenix area, it’s a prestige facility—i.e., a loss-leader. If completed on schedule, it will be the first sports book at an NFL stadium. Like the cost, specific infrastructural details were mostly vague … “massive video wall,” yada, yada, yada. (OK, if you read the fine print, it says 38 TVs spread over 265 square feet.) The book will hold 500 people, have 25-plus freestanding betting kiosks and cover 16,800 square feet. It will be a year-round, day-in/day-out sports book, although it’s an open question over whether that will trump the convenience of online betting. But hey, it looks great:

Scarcely had Deutsche Bank analyst Carlo Santarelli projected 12% gaming growth in Ohio over December 2019 than the numbers came in and it was 16%. The $197 million gross showed play heating up from November, too. Slot revenue was up 17.5% on 18.5% more coin-in and table win grew 8.5% on 6.5% heavier wagering. One extra weekend day obviously helped, but still … Belterra Park was up 5% to $8 million, Scioto Downs leapt 21% to $19 million and Miami Valley Gaming hopped 19% to $19 million. MGM Northfield Park clung to the top spot, just barely, with $23 million (+3.5%). It was closely contested by Hollywood Columbus ($22 million, +12.5%) and Jack Cleveland (pictured, ditto). Also bunched at the summit were Hard Rock Cincinnati ($21 million, +18%) and Hollywood Toledo ($20 million, +12.5%). Jack Thistledown catapulted 37% to $17 million, Hollywood Dayton leapt 34% to $13.5 million and Hollywood Mahoning Valley was good for $13 million, an 18% gain.

There’s an Eeyore sweatshirt that says, “Could be worse. Not sure how, but it could be.” That pretty much sums up the situation in Macao, which finished 2021 44% ahead of 2020 when it comes to gambling revenue … but could one envision a worse scenario than 2020? Not sure how, but we could. The world’s gambling capital managed almost $11 billion in revenue last year, Las Vegas-like numbers but we have come to expect so much more. Of course, it’s difficult to open the throttle on Macao given the Chinese government’s newfound disapproval of gaming, and its habit of dialing access to the casino enclave up and down like the burners on a stove.

Then there’s the matter of concession renewals, which seem like a done deal but still have their skeptics, like Jefferies analyst David Katz, who cited “uncertainty” surrounding the concessions, leading him to take “a conservative stance” on Macao-centric stocks. Indeed, the market has punished stocks that are heavily reliant on Macanese casinos. Las Vegas Sands has fallen 35%, Wynn Resorts 20%. Galaxy Entertainment took a 33% bath and Melco Resorts & Entertainment got walloped 43%. “China Lite” MGM Resorts International, however, made out like a bandit, seeing its share price vault 51%.

Regardless of what happens next week, you have a football team with a winning record in the Las Vegas Raiders, who snared a potential wild-card playoff berth with a last-second win over the favored Indianapolis Colts. After hitting a 6-7 nadir against the Kansas City Chiefs, the Raiders got their act together and started winning when it counted. Cleveland … Denver … Indianapolis … it hasn’t been pretty but they’ve done it and we have to tip our cap to the Silver & Black for returning from a near-death experience. A playoff spot isn’t in the bag just yet but if the Los Angeles Chargers (currently ahead in their game) hang on to win, Allegiant Stadium gets treated to a winner-take-all tilt next Sunday. If the Chargers lose today, the Raiders are—we think—in the playoffs but somehow it would be a fitting reward for Las Vegans if their team were playing for all the marbles next Sunday night at home. In so many ways it’s been a season Raider Nation would sooner forget but it’s ending memorably.

Due to a mysterious fatigue, my doctor has put me on bed rest for the remainder of the week. That means no S&G. Fortunately, it’s been a glacially slow news week, unless you count the passing of former gaming regulator (and U.S. senator) Harry Reid, who succumbed after a plucky battle with pancreatic cancer. What the Mob couldn’t do with a car bomb decades ago, carcinogens did. At least he lived just long enough to see Las Vegas‘ airport renamed in his honor. Rest in peace, senator.