{"id":32198,"date":"2023-01-13T11:17:14","date_gmt":"2023-01-13T19:17:14","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=32198"},"modified":"2023-09-26T13:24:30","modified_gmt":"2023-09-26T21:24:30","slug":"indiana-dims-sands-make-mine-nassau-mega-jottings","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/blog\/indiana-dims-sands-make-mine-nassau-mega-jottings\/","title":{"rendered":"Indiana dims; Sands: Make mine Nassau; Mega-Jottings"},"content":{"rendered":"\n
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Gaming revenues dipped last month in Indiana<\/strong>, achieving $204 million, a 3.5% year\/year decline. Hard Rock Northern Indiana<\/strong> ($34 million, +4%) continues to ransack its competitors. Horseshoe Hammond<\/strong> was closest, grossing $26 million but down 13.5%, while Ameristar East Chicago<\/strong> tumbled 13.5% to $16.5 million and Blue Chip<\/strong> (above<\/em>) slipped 10.5% to $10.5 million. Caesars Entertainment<\/strong>‘s two Hoosier State racinos headed in opposite directions. Horseshoe Indianapolis<\/strong> was up 2% to $28.5 million, while Harrah’s Hoosier Downs<\/strong> was down 6.5% to a still-healthy $20 million. Defying the downward trend was Bally’s Evansville<\/strong>, jumping 9.5% to $15.5 million, while Belterra Resort<\/strong> was flat at $8 million and French Lick Resort<\/strong> was also level at $7 million. Caesars Southern Indiana<\/strong> was also steady at $21 million, while Hollywood Lawrenceburg<\/strong> slid 11% to $13.5 million. Rising Sun<\/strong> didn’t rise: -8% to $4 million.<\/p>\n\n\n\n\n\n\n\n

Sports betting brought home $43 million on handle of $431.5 million. FanDuel<\/strong> outraced DraftKings<\/strong>, $16 million to $12.5 million. Also finishing in the money were BetMGM<\/strong> ($5 million) and Caesars Sportsbook <\/strong>($4 million), along with Barstool Sports<\/strong> ($1 million).<\/p>\n\n\n\n

Next door in Illinois<\/strong>, sports betting continued to live up to the hype, with $97 million netted from $1 billion in handle. Thanks to tight (12%) hold, FanDuel garnered $47 million and market dominance. DraftKings was well behind at $27 million, distantly followed by BetRivers<\/strong> ($9.5 million), PointsBet<\/strong> ($6 million), Caesars Sportsbook ($3 billion) and Barstool ($3 million). Unlike other states, there’s a fair amount of wealth to spread about in the Land of Lincoln. Speaking of Barstool, it has pulled up a chair<\/a> in Scottsdale<\/strong>, Arizona<\/strong>, with a branded bar. The “moderately busy” watering hole was dinged for slow service and “carne asada” that was plain old ground beef. Just what we’d expect from Dave Portnoy<\/strong>‘s company. Penn Entertainment<\/strong>, take note.<\/p>\n\n\n\n

As we reported earlier, Las Vegas Sands<\/strong> has its eye on the Nassau Hub<\/strong> on Long Island<\/strong>, and it’s made it official<\/a>, announcing plans to develop 72 acres adjacent to Nassau Coliseum<\/strong>, which would be converted to a concert hall. Sands spokesman Ron Reese<\/strong> said the project would offer “Hotel rooms, of tourism attractions, of things that the local community can participate in, can have access to, whether that’s restaurants.” The LVS team includes former governor David Paterson<\/strong>, now a Sands lobbyist. “Tax revenues and the quality of life goes up, and of course the entertainment choices are expanded exponentially,” he said of the $4 billion project, whose design has the requisite “wow” factor<\/a>. Sands is so keen on the proposal it plans to go ahead even if the state doesn’t grant it a casino<\/a> (for which LVS has applied).<\/p>\n\n\n\n

The NIMBY faction is already being heard from<\/a>, with Nostrand Gardens Civic Association<\/strong> President Pearl Jacobs<\/strong> spouting an old wives tale that “Casinos in the long run don’t tend to really be good for our community. It brings in a lot of crime.”<\/p>\n\n\n\n

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Saks Fifth Avenue<\/strong>, meanwhile, is pitching a high-end casino<\/a> atop its flagship store in Manhattan<\/strong>. According to the New York Post<\/em>, “renderings show stylishly dressed guests, seated at roulette tables, posh bars and upholstered chairs, clinking cocktails. They enter the building via a separate entrance on a red carpet that extends out onto the sidewalk and opens into a vast lobby area with multiple chandeliers and plush decorative rugs.” That’s all well and good but how does Saks expect to cover the development cost\u2014never mind the $500 million license fee (minimum) out of baccarat play? It’s hard to see this idea penciling out.<\/p>\n\n\n\n

\u201cThe casino at Saks will attract an affluent global tourist and not prey on people who shouldn\u2019t be in casinos,\u201d\u00a0sniffed HBC<\/strong> CEO Richard Baker<\/strong>. Never mind that it’s the hoi polloi who ultimately make the casino books balance. Baker counts hotel unions and the Theater District in his corner, some of them being wary of a Caesars Entertainment mass-market casino in Times Square<\/strong>. Baker’s selling points are speedy conversion (i.e., faster taxes) and snob appeal: \u201cWhy should Manhattan have another slobby casino? \u2026 We need spectacular.\u201d This guy is such a jerk that we almost want to see him get a license, if only to watch him fall on his upturned nose.<\/p>\n\n\n\n

Although the casino-selection process is supposed to “linger” into November, that’s not fast enough for state Sen. Joseph Addabbo<\/strong> (D). He’s pushing for a quick turnaround<\/a>. Like Baker, he wants tax dollars generated yesterday. So impatient is Addabbo that he’s also pimping a bill that would legalize i-gaming in the state\u2014and never mind how much it cannibalizes already-strapped Empire State gambling halls. “I-gaming is where the real money is,” says the Democratic lawmaker and he’s not wrong. For the moment, though, Gov. Kathy Hochul<\/strong> (D) is turning a deaf ear to his entreaties. However, Addabbo may try to force her hand by tethering i-gaming to the approval of the three New York City<\/strong>-area casinos.<\/p>\n\n\n\n

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Jottings<\/em><\/strong>: When not bashing LGBT people<\/a>, Texas<\/strong> Speaker of the House Dade Phelan<\/strong> (R) has some opinions on casinos. He says he lives “a stone’s throw” from Lake Charles<\/strong> and thusly has no problem with gambling venues. He draws the line at slot routes, saying, \u201cI want to see destination-style casinos that are high quality and that create jobs and that improve the lifestyle of those communities\u201d … Sad news from Atlantic City<\/strong>. A juvenile humpback whale washed up on shore near Tropicana Atlantic City<\/strong> with a fatal head wound<\/a>. The cause of death is suspected to be a boat strike … On a related note, animal rights activists are calling for Churchill Downs<\/strong> to stop carrying greyhound races on its TwinSpires<\/strong> OSB platform. Said Gray2K USA<\/strong> President Christine Dorchak<\/strong>, “We are especially concerned that TwinSpires is offering races from Agua Caliente<\/strong> on its betting platform.\u00a0Caliente is a Tijuana<\/strong>-based dog track with no animal welfare standards that is owned by a controversial figure with alleged ties to organized crime” … Pennsylvania<\/strong>‘s gambling market is set for further dilution<\/a> on Feb. 3 when Parx Casino<\/strong> opens its satellite facility in Shippensburg Township<\/strong>. Built within a defunct Lowe’s<\/strong>, the casino will offer 500 slots and 48 table games … <\/p>\n\n\n\n

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Shame on Genting Group<\/strong>. The owners of Resorts World Las Vegas<\/strong> are compelling patrons to pay for self-parking, hardly a customer-friendly move … The debut of Virginia<\/strong>‘s first permanent casino, Rivers Portsmouth<\/strong>, has been pushed back 10 days<\/a> to Jan. 25. The $350 million property seems not to have been ready for deployment. Better to do it right than quickly … Nobody seems to want Internet casino PlayUp.<\/strong> A(nother) purchase, this time by IG Acquisition Corp<\/strong>., hasn’t made it to the altar<\/a>. As though that weren’t bad enough, Ohio<\/strong> may deny PlayUp a sports-betting license, probably with good reason … Although he wasn’t planning it that way, Deutsche Bank<\/strong> analyst Carlo Santarelli<\/strong> just handed the Culinary Union<\/strong> some big-ass ammunition for its upcoming labor talks in Las Vegas<\/strong>. He’s crunched the numbers on a 5%-a-year pay raise for rank-and-file employees and finds it wouldn’t have more than an 0.3% impact on EBITDA<\/a>. Then again, knowing how Big Gaming loves to poor-mouth when a collective bargaining agreement comes due, expect a lot of hair-shirt wearing this spring in the C-suites … Finally, heads are rolling<\/a> at Fontainebleau<\/strong>. This may not (but probably may) have something to do with a rumored corporate panic that F-blue won’t be ready in time for this year’s Formula One<\/strong> race. Why this should come as any surprise to ownership is anybody’s guess, as F-blue was always targeted for a late-year opening\u2014one it may not achieve.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gaming revenues dipped last month in Indiana, achieving $204 million, a 3.5% year\/year decline. Hard Rock Northern Indiana ($34 million, +4%) continues to ransack its competitors. Horseshoe Hammond was closest, grossing $26 million but down 13.5%, while Ameristar East Chicago tumbled 13.5% to $16.5 million and Blue Chip (above) slipped 10.5% to $10.5 million. Caesars […]<\/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\/32198"}],"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=32198"}],"version-history":[{"count":0,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/posts\/32198\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/media?parent=32198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/categories?post=32198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/tags?post=32198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}