Nevada gambling winning catapulted 18% last month—yes, almost a 20% increase over post-Covid numbers (although January 2022 was dampened by Omicron). The good times just keep on rolling, to the tune of $1.2 billion. The Las Vegas Strip led the charge with a 26% vault, grossing $713 million. Strip slot revenue grew 24% on 24.5% more coin-in. Table games were good for the house, with winnings up 23% on only 5% more wagering. Baccarat saw players take a hiding, as the house won 42.5% more on 22% bigger betting.

Downtown kept pace, leaping 25.5% to $85 million. Laughlin (+1%, $42 million) missed out on the party. The Boulder Strip was up 13% to $96 million, North Las Vegas gained 8% to $24 million and miscellaneous Clark County jumped 17.5% to $152.5 million. Utah-fed Mesquite was up 8.5% to $16 million. But favored Mormon getaway Wendover slipped 2% to $21 million. A harbinger of things to come? As Wendover goes, so goes Nevada. Indeed, Reno was down 19% to $42 million, while Lake Tahoe nudged 2% higher to $17 million. Sparks continues on the comeback trail, up 17% to $14 million.

Continue reading Vegas booming; Churchill Downs “messy”; Mega-Jottings

Gambling revenues in Atlantic City defied the cold last month, surging 15% to $212 million. Borgata, naturally, led the market with $58.5 million, a 20.5% vault. Next up was Hard Rock Atlantic City with $36 million, a 3.5% nudge, followed by Ocean Casino Resort‘s $30.5 million, a moonshot of 26.5%. The Caesars Entertainment threesome all gained–indeed, nobody in town was revenue-negative. Harrah’s Resort was up front with $20 million, a 16% gain. Then came Caesars Atlantic City with $17 million, up 5%, and Tropicana Atlantic City‘s $16 million, a 12% jump. The remaining three were all bunched at the rear, with Bally’s Atlantic City doing $11.5 million (a 31.5% catapult … management must be finally gaining traction), and Golden Nugget and Resorts Atlantic City fighting for last place with $11 million (+5.5% and +20% respectively). All in all, a very encouraging report.

Continue reading Atlantic City leaps; DraftKings beats The Street

Good going, MGM Springfield. It has become the third Massachusetts casino to ‘fess up to taking illegal wagers in the opening days of lawful sports betting. Did the Bay State go live too soon? It’s looking that way, as regulators say they’ll be learning to “set the goalposts” on what is and isn’t permitted, a tacit admission that they got caught with their pants down. Look, this isn’t rocket science and none of three bungling companies is a novice to sports wagering, making this all the more inexcusable. Putting a ‘pause’ on the March 10 launch of mobile betting seems only sensible while the Massachusetts Gaming Commission gets its act together.

Continue reading Sports betting bungle; Smoke gets in their ears