“It’s kind of fun to do the impossible,” said Walt Disney. For the leadership of DraftKings, “the impossible” would include finding a path to near-term profitability. DKNG reported 3Q22 numbers late last week and J.P. Morgan analyst Joseph Greff called the projected, year-end negative return on investment “worse than expected.” And it gets more adverse next year, when DraftKings is expected to return [sic] $110 million more negative ROI than Wall Street anticipated. “This is disappointing as this outlook follows recent 3Q22 earnings commentary from DKNG’s OSB/Digital competitors … who have talked up an accelerated path to profitability and suggests that DKNG is lagging peers on a path to positive EBITDA generation.” Oh sure, DraftKings might produce a positive ROI … in 14 months or maybe break even in 2024. But the company continues to get less bang for its buck, in terms of revenue and market share than (privately held) rival Fan Duel.

In the end, all that talk of Caesars Entertainment selling a Las Vegas Strip asset was just a sham. The company probably couldn’t find any takers for the Flamingo at CEO Tom Reeg‘s preposterous asking price (ditto his equally preposterous conditions for vending Planet Hollywood). Reeg’s explanation was “We ran into a market where the cash flow of the asset continued to increase and the ability of buyers to raise financing made it a very easy decision for us to keep.” Never mind that his decision blows a $1 billion-$2.5 billion hole in the strategy to pay down the company’s groaning $13.3 billion debt load. (If there is a recession, God forbid, Caesars will be in a boatload of trouble.) In the end, nobody was going to pay $2.5 billion for the Flamingo and even Planet Ho would be a heavy lift at that price.

“Did Bally’s open a casino in Atlantic City and forget to tell anyone about it?” So asks our East Coast correspondent. “This is Bally’s yesterday (Sunday). A few casinos here would have more customers during a snow storm than this.” As though to prove their cluelessness, Bally’s Corp. mailed its faithful Boardwalk customers a lengthy flier touting the Tuesday promotions (including the blue-plate specials) at Dover Downs, right? Nope … Bally’s Vicksburg. What a waste of time, money and bandwidth. And this is the company that’s supposed to elevate Chicago into the casino major leagues?

Nevada scored yet another $1 billion-plus month in September, up 8% from 2021. As you might expect, the Las Vegas Strip drove the big gain, booking $693 million in win, up 8%. Strip slot revenue was $409.5 million, a 17.5% vault in coin-in. Table games not called ‘baccarat’ saw 10.5% more wagering and the whales appear to have returned to the baccarat table, where betting volume was 34.5% larger. Luck wasn’t with the house, which saw 3% less baccarat win.

This more than compensated for a Las Vegas locals market that has leveled off from last year. Downtown was more like its old self, gaining 1.5% to reach $74 million while Laughlin hopped 5% to $39 million. Boulder Strip casinos took a hit, down 8.5% to $74.5 million. This negated most gains in the rest of the locals picture. North Las Vegas was up 5% to $23.5 million, proving out Station Casinos‘ contention that demolishing two casinos wouldn’t hurt the region. Miscellaneous Clark County climbed 4% to $142 million.