We’re back from vacation at last and pick up where we left: Atlantic City. The drop-dead date for contract talks (basically July 1, a full month past the expiry of the collective bargaining agreement) is drawing nigh and no progress is evident. Our East Coast correspondent reports that the rank-and-file are seeking $16/hour in base pay, which is still less than the livable wage of $17.75/hour, so that’s kinda george of them. Casinos continue to whinge about how poverty-stricken they are and say pay no attention to the money being raked in from i-gaming. At this rate, a strike appears more likely than not—and just when the casinos can least afford it. Are they really willing to flush the July Fourth weekend just to make an increasingly indefensible point? Apparently so.

Continue reading Nasal amputation in Atlantic City; Goodbye, Hawaiian Marketplace

Staring down a seemingly inevitable strike on July 1 by Unite-Here, casinos in Atlantic City could at least take solace in a May that saw gaming revenues leapfrog 9% over last year. The total gross was $233 million, as slot revenues ($174 million) jumped 10.5% on 13% higher coin-in. Table revenue climbed 6.5% on 5.5% larger wagering. Zooming 30% ahead, Borgata banked $63.5 million to Hard Rock Atlantic City‘s $41.5 million (+19%). Hard Rock, incidentally, has been given a two-day reprieve from labor unrest. Ocean Casino Resort—pictured—was third with $25.5 million, gaining only 3% traction. Over at the Caesars Entertainment triumvirate, only Tropicana Atlantic City ($22 million) was revenue-positive, up 8.5%. Harrah’s Resort ceded 1.5% to $21 million and Caesars Atlantic City was down 9.5% to $20 million.

Ongoing improvements at Bally’s Atlantic City helped eke out a 2.5% increase to $13 million, while Resorts Atlantic City slipped 8% to $14 million. Golden Nugget was microscopically ahead of Bally’s at $13 million, a gain of 3%. I-gaming was a boon, good for $136 million, led by Borgata’s 31% market share and Golden Nugget’s 25.5%. Then came Resorts Digital‘s 22%, then way down to Caesars’ 7%, Tropicana’s 6%, Hard Rock’s 4%, Bally’s 2.5% and Ocean’s 1.5%. Internet gambling is great if you’re MGM Resorts International, lagniappe if you’re Bally’s Corp. As for sports betting, it engendered $61.5 million in revenue on $766.5 million in handle.

Continue reading Atlantic City booms on eve of strike; Louisiana not so lucky

Our East Coast correspondent visited Bally’s Atlantic City to check out its revisions and we’ll let his photos tell the story:

Continue reading New look at Bally’s; Ohio hits a speed bump

Even as playing levels normalize from last year, gambling revenues continue their upward tread. Maryland, for instance, was 4% higher in May than a year ago (and 17.5% above 2019). Had there not been one fewer weekend day than in 2021, that tally should have been more impressive still. However, the growth was generated almost entirely by MGM National Harbor, which banked $76 million, an 11% surge. Maryland Live was 2% higher, grossing $63 million. Everyone else found consumers curbing their spending habits. Horseshoe Baltimore brought home a weak $18 million, down 9.5%. Out west, Rocky Gap Resort grossed $6 million (-5.5%) while Hollywood Perryville, in the east, netted $8 million but slipped 3%. That left Ocean Downs, which dipped 1% to $8.5 million. Established brands have little to worry about, it would appear, but smaller fry have cause for concern going forward.

Continue reading Maryland weaker, Illinois stronger; Mickelson in denial