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The Use of “fp or worse” in Strategies

A few weeks ago, I discussed the taxonomy of 3-card straight flushes. The first comment after it was published was “Dork Alert!” I assumed that I was being called a dork by someone who didn’t like the column. I was such a dork that I didn’t even know the meaning of dork! By the time I figured out what it meant, a couple of other readers defended me by saying that I was certainly not a dork, but the jury was still out about whether or not I was a nerd.

I’m so glad we got that straightened out!

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Immersive Disney Is a Trip

I was back in Vegas last month and did the Disney Immersive exhibit at the Lighthouse ArtSpace at The Shops at Crystals.

It might surprise you to learn that my second favorite place to visit is Las Vegas. My wife and I are big Disney fans and she has no interest in Vegas, so my favorite place to visit is actually Disney World. In fact, we specifically moved to Florida to be just a car ride away.

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Strip flattens, locals fade; Analysts mixed on Boyd

While not as bad as Deutsche Bank expected (-8%), June revenues on the Las Vegas Strip of $727 million were a disappointment, down 1%. And May’s brief flurry of hope from Las Vegas locals players faded fast as their losses tumbled 10% to $229 million.The problem on the Strip can be summed up in one word: baccarat. The house got clobbered as winnings plunged 29% on 3% larger wagering. By contrast, all other table games were up 9% despite 14% thinner betting. Slot play was up 12.5%, translating to 4% more win for the house.

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Silence of the ponies; New boss for Virgin, new Mirage hope

Kentucky Derby fallout continues to reverberate around Churchill Downs, leading to a 2Q23 earnings miss. A mass die-off of horses during the Run for the Roses caused the flagship track to be closed and races shifted to Ellis Park. Cash flow for the company slipped to $364 million, 4% under Wall Street‘s consensus forecast. Net revenues ($769 million) were comparably down. All that being said, live and “historical” racing were the least off-pace, down 3%, versus online TwinSpires‘ 13% and casino gambling’s 4% declivity.

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Michigan hops, Bally’s flops and Stitt’s in hot water

Detroit casinos continue to be outperformed by their Internet rivals. Last month saw $151 million in online gambling revenue against $102 million from terrestrial, private-sector casinos. Sports betting chipped in $18 million. Revenue for the three Motown casinos was up 4% from last year, led by MGM Grand Detroit‘s $47 million—but 3% down. By contrast, Hollywood Detroit is coming on hard, vaulting 37% to $22.5 million. That left $34.5 million for a comfy second place by MotorCity.

Also first online was BetMGM with $49 million, trailed by DraftKings ($34 million), FanDuel ($29 million), BetRivers ($9 million), Caesars Entertainment ($6.5 million), WynnBet ($5 million) and Barstool Sports ($3.5 million). Sports wagering handle of $228 million boiled down to $10 million for FanDuel. Nobody was even close, with BetMGM making $3 million, DraftKings $2 million and no one else cracking our $1 million Mendoza Line.

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Walk of Shame; F-blue aflame; More Stitt stupidity

Shame on the District of Columbia. Its embattled leadership has yanked away $200,000 in funding for treatment of disordered gambling. You’d think that would be a priority item for a city whose government is partly funded by sports betting … but you’d think wrong. Problem gamblers hoping to get help close to home have received a ‘Drop dead’ message from City Hall. “The Department of Behavioral Health is committed to providing a range of services in the public behavioral health care system to meet the needs of all residents,” a spokesman proclaimed airily. It’s that those services are no longer germane to problem-gambling treatment.

You’ll have to fall back on Gamblers Anonymous or the National Council for Problem Gambling‘s helpline. “Treatment and support services for problem gambling disorder currently are available through a network of DBH-certified community-based providers,” said the mouthpiece, deftly passing the buck. What he neglects to mention is that if you don’t have private insurance you’re pretty much SOL.

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Louisiana still sinking; Insult from the Lege; Japan follies

Horseshoe Lake Charles continues to prop up Louisiana casino revenues, which were down 2% last month compared to -6.5% if Horseshoe is subtracted. The statewide gross was $196 million. Visitation overall was up 3% but gamblers clutched their purse strings, spending 4.5% less on average. Lake Charles was led by the Golden Nugget, down 2% but winning $29 million. Close behind was L’Auberge du Lac with $27 million, feeling the Horseshoe hurt with an 8.5% decline. Horseshoe brought in $9 million while Delta Downs was good for $14 million, beating the odds with a 2% climb.

In New Orleans, the evolving Harrah’s New Orleans dipped 5.5% but still crushed the competition with $20 million. Boomtown New Orleans made $10 million, off 7%, while Treasure Chest dropped 12% to $7 million and Fair Grounds racino stumbled 13.5% to $3.5 million. Outlying Amelia Belle (pictured) was down 8% to $2.5 million whilst Evangeline Downs was off 2% to $6 million.

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