{"id":29357,"date":"2021-03-08T10:19:10","date_gmt":"2021-03-08T18:19:10","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=29357"},"modified":"2023-09-14T14:03:40","modified_gmt":"2023-09-14T22:03:40","slug":"maryland-more-gamblers-more-money-illinois-improving","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/blog\/maryland-more-gamblers-more-money-illinois-improving\/","title":{"rendered":"Maryland: More gamblers = more money; Illinois improving"},"content":{"rendered":"\n
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What will prompt recovery in gaming? Stimulus money, yes, but we got a strong indicator of something else out of Maryland<\/strong> last weekend. Overall, casino revenues were down 16.5% but the story is more complicated than that. At facilities restricted to 25% of capacity (MGM National Harbor<\/strong>, Maryland Live<\/strong> and Horseshoe Baltimore<\/strong>), the decline was 18%. But at (smaller) facilities bumped up to 50% of capacity, revenues grew 8%. So are capacity constraints keeping players at home? Based on the Maryland numbers one would have to say yes. The statewide gross was $126 million, with MGM reporting 15% less slot revenue and 19% less win at the tables. National Harbor held the top spot with 40% market share compared to Maryland Live’s 35.5%. Horseshoe has fallen so low that JP Morgan<\/strong> analyst Joseph Greff<\/strong> no longer breaks out its market share.<\/p>\n\n\n\n

Speaking of Horseshoe, it eked out $14 million, a 20% decrease. MGM booked $51 million, -17%, and Maryland Live won $45 million (-18%). Nobody was revenue-positive but Ocean Downs<\/strong>‘ $6 million was only a 3% dip. Rocky Gap Resort<\/strong> made $4 million (-17%) and Hollywood Perryville<\/strong> was good for $6 million, down 5.5%. Over in West Virginia<\/strong>, revenues slid 34%, with Hollywood Charles Town<\/strong> tumbling 39%, thanks in large part to a -50% wipeout at the tables. (Slots were -35%, almost on par with statewide average.)<\/p>\n\n\n\n\n\n\n\n

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As Illinois<\/strong> moved to 50% capacity, we note with a sigh of relief that gaming revenues were ‘only’ 24% in February, even if a $78 million gross hardly inspires dancing in the streets. The sequential improvement (January was godawful) was not aided by an unfavorable calendar that saw one less weekend day than in 2020. Practically all of the money ($61 million) was made in the northern tier and $29 million of that went to Rivers Casino Des Plaines<\/strong> (-29%). Dividing up Rivers’ leftovers were Hollywood Aurora<\/strong> ($6 million, -26%), Empress Joliet<\/strong> ($5.5 million, -34%), Harrah’s Joliet<\/strong> ($11 million, -16%) and Grand Victoria<\/strong> ($9.5 million, -20%). Mid-state, Par-A-Dice<\/strong> took in $4 million (-20%) while Jumer’s Casino Rock Island<\/strong> plunged 47.5% to $2.5 million. Yup, that sure was a savvy acquisition by Bally’s Corp<\/strong>. Down south, DraftKings Casino Queen<\/strong> slipped 14% to $5.5 million, Argosy Belle<\/strong> scraped together $2 million (-39%) and Harrah’s Metropolis<\/strong> tumbled 41% to $3 million. Things are better but relief in the form of Internet gambling cannot arrive any too soon.<\/p>\n\n\n\n

Across the Big Muddy in Iowa<\/strong>, casino revenues hit a speed bump, down 11% in February. Casinos grossed $114.5 million plus $8 million in sports-betting revenue on handle of $143.5 million. The brightest spot was Diamond Jo Worth<\/strong>, up 11% to $7 million. Diamond Jo Dubuque<\/strong> slipped 15% to $5 million. Isle Bettendorf<\/strong> was down 8.5% to $5 million, Isle Waterloo<\/strong> off 11% to $7 million and Harrah’s Council Bluffs<\/strong> dove 32.5% to $4.5 million. Horseshoe Casino<\/strong> fell 18.5% to $13 million. Ameristar Council Bluffs<\/strong> slid 11.5% to $12 million and Prairie Meadows<\/strong> racino stumbled 19% to $14.5 million. <\/p>\n\n\n\n

Sports wagering market share was led by William Hill<\/strong> with a robust 36%, distantly followed by DraftKings’ 19% and FanDuel<\/strong>‘s 17%. PlayUSA<\/strong> analyst Jessica Welman<\/strong> contended that \u201cIowa remains perhaps the most compelling case study yet on the effects of in-person registration requirements.\u201d Indeed, Fanduel reported a sevenfold increase in new registrants from December to January, when restrictions were lifted. Concludes Welman, \u201cFebruary is a short month with only one NFL<\/strong> game to bet on, the Super Bowl<\/strong>, so the relatively flat month-over-month results can be misleading on the surface. But another strong showing still places Iowa in a class of states that are either larger or have far more mature gaming markets. And that would not be possible under the old requirements.\u201d<\/p>\n\n\n\n

\"\" FanDuel also made news by becoming the first mobile sports-betting provider to join the American Gaming Association<\/strong>‘s “Have a Game Plan” responsible-gambling program. Toward that end, FanDuel is making what is describes as “a multi-million-dollar commitment of its media inventory” in responsible-gaming messaging. Although March is Problem Gambling Awareness Month, the content won’t go live until May. Better late than never. “Have a Game Plan” is described by the AGA as “a state-by-state guide on where to find legal operators, spotlight the basics of responsible sports betting and raise awareness on signs of problem gambling.” Calling FanDuel’s enlistment exceedingly timely, AGA President Bill Miller<\/strong> added, \u201cResponsibility to our customers has always been a pillar of AGA member operations. Extending this to meet the new realities of an expanded sports betting ecosystem is going to require full collaboration with everyone involved in it\u2014gaming operators, media companies and leagues and teams. We\u2019re excited to have a partner like FanDuel to help extend this important initiative.\u201d Your move, DraftKings.<\/p>\n\n\n\n

When not propping up its Rock Island<\/strong> casino, Bally’s Corp. is acquiring the naming rights to Sinclair Broadcasting<\/strong>‘s sports channels. It’s a good strategic move, even if Bally’s CEO George Papanier<\/strong> got a bit carried away, proclaiming that \u201cRolling out Bally\u2019s iconic logo across Sinclair\u2019s regional sports networks is a rewarding first step in a transformational partnership that is going to revolutionize the U.S. sports betting, gaming and media industries.” Yeah, whatever. We’re just glad to see sports betting achieving higher and higher levels of media acceptance.<\/p>\n\n\n\n

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Jottings<\/strong>: In a man-bites-dog story, a highly unusual rift has broken between Foxwoods Resort Casino<\/strong> and Mohegan Sun<\/strong>. The latter has come to terms with Connecticut<\/strong> Gov. Ned Lamont<\/strong> (D) on both Internet gambling and sports betting. Foxwoods is said to be displeased … The dominoes continue to topple ominously for Crown Resorts<\/strong>. Not only has the boss of its Perth<\/strong> casino resigned, the state of Victoria<\/strong> is among the growing number investigating the embattled company … Speaking of rifts, the government of Prince Edward Island<\/strong> wants to launch online gambling. The Canadian federal government is taking issue with the little province’s initiative.<\/p>\n","protected":false},"excerpt":{"rendered":"

What will prompt recovery in gaming? Stimulus money, yes, but we got a strong indicator of something else out of Maryland last weekend. Overall, casino revenues were down 16.5% but the story is more complicated than that. At facilities restricted to 25% of capacity (MGM National Harbor, Maryland Live and Horseshoe Baltimore), the decline was […]<\/p>\n","protected":false},"author":83928,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[1728],"tags":[],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/posts\/29357"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/users\/83928"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/comments?post=29357"}],"version-history":[{"count":0,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/posts\/29357\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/media?parent=29357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/categories?post=29357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/tags?post=29357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}