{"id":32619,"date":"2023-05-11T06:38:35","date_gmt":"2023-05-11T14:38:35","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=32619"},"modified":"2023-09-26T13:22:38","modified_gmt":"2023-09-26T21:22:38","slug":"illinois-up-missouri-down-golden-fails-to-glitter","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/blog\/illinois-up-missouri-down-golden-fails-to-glitter\/","title":{"rendered":"Illinois up, Missouri down; Golden fails to glitter"},"content":{"rendered":"\n
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New product lifted Illinois<\/strong>‘ gambling grosses last month, as same-store revenues slipped 1%. The overall haul was $128 million and much of the propulsion came from The Temporary at American Place<\/strong> in Waukegan<\/strong> and its $7 million take. Hard Rock Rockford<\/strong> rocketed 21.5% to $6 million, while Rivers Des Plaines<\/strong> dipped 2% but still lapped its competitors with $45.5 million. Among the older riverboats, Grand Victoria<\/strong> was down 2.5% to $13.5 million, Hollywood Aurora<\/strong> did the same for $9 million and Hollywood Joliet<\/strong> actually gained 4% to $8 million. (Yes, we’re somewhat surprised.) Harrah’s Joliet<\/strong> nudged down a percentage point to $12 million.<\/p>\n\n\n\n\n\n\n\n

Outside Chicagoland, Bally’s Quad Cities<\/strong> hopped 4% to $5 million while Par-A-Dice<\/strong> stumbled 5.5% to $5.5 million and Harrah’s Metropolis<\/strong> gained 2% to $6 million. DraftKings Casino Queen<\/strong> plunged 11% to $7 million and Argosy Belle<\/strong> slumped 7% to $3 million.<\/p>\n\n\n\n

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Across the river, Missouri<\/strong> casinos grossed $167 million but dipped 3% overall. The only impressive gainer was Horseshoe St. Louis<\/strong> (above<\/em>), up 8% to $14 million. Ameristar St. Charles<\/strong> was flat at $26.5 million, Hollywood St. Louis<\/strong> slid 4.5% to $21 million and River City<\/strong> was down 5% to $22 million. On the west side of the state, Bally’s Kansas City<\/strong> flattened its upward trajectory at $11 million, Ameristar Kansas City <\/strong>was also flat at $18 million, Argosy Riverside<\/strong> fell 6% to $15 million and Harrah’s North Kansas City <\/strong>dove 11% to $14 million. Outlying casinos were led by Isle of Capri Boonville<\/strong>‘s $8 million (-2%). Century Casinos <\/strong>suffered reverses both in Cape Girardeau<\/strong> ($6 million, -9%) and Caruthersville<\/strong> ($4 million, -7%).<\/p>\n\n\n\n

Arizona<\/strong>‘s February sports betting winnings have been latterly delivered and $34 million in revenue was realized from handle of $608.5 million. Much of the store\u2014$18 million\u2014was given away in free bets and promos. Four operators accounted for 97% of the revenue, leaving everyone else gasping for oxygen. FanDuel<\/strong> led DraftKings<\/strong>, $15 million to $11 million, and BetMGM<\/strong> decisively bested Caesars Sportsbook<\/strong>, $5 million to $1 million. Time for Barstool Sports <\/strong>and BetRivers<\/strong> and WynnBet<\/strong>, along with all the other also-rans, to pack it in.<\/p>\n\n\n\n

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First-quarter numbers from Golden Entertainment<\/strong> were termed “disappointing” by Deutsche Bank <\/strong>analyst Carlo Santarelli<\/strong>. He blamed renovation disruptions at The Strat<\/strong>, a weak concert calendar in Laughlin <\/strong>and “ongoing cost pressures.” The upside to the 537-room upheaval at The Strat is that Golden will have it finished in time for July 4<\/a>. Still, Nevada<\/strong> casinos didn’t come through for GDEN, which missed Santarelli’s cash-flow target by $5 million, coming in at $62 million. Rocky Gap Resorts<\/strong> and sundry slot routes also were letdowns, which the Las Vegas <\/strong>locals sector was flat. <\/p>\n\n\n\n

Santarelli concluded “while the 1Q23 was somewhat of a setback, and while our estimates have been revised lower, we continue to see stability in Nevada, a reasonable valuation, and strategic and financial flexibility, given low leverage … as reasons to remain bullish on shares here.” He pared his price target down to $48\/share from $50 but maintained his “Buy” rating.<\/p>\n\n\n\n

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Jottings<\/em><\/strong>: It’s soon to be Taco Tuesday every day at the Golden Nugget Atlantic City<\/strong>. The casino has officially announced Dos Caminos<\/strong> as its next restaurant. “Perhaps they can have the tables around the old slot machines,” suggests our Boardwalk correspondent … The Press of Atlantic<\/em> continues to be a thorny thicket. Local governments require a newspaper in which to publish mandatory public notices (foreclosures, tax sales, government contracts, municipal job openings, etc.). If The Press<\/em> goes under\u2014a very real prospect\u2014Atlantic City<\/strong>, Atlantic County<\/strong> and Cape May County<\/strong> will be SOL. In return for only three issues a week, the price of a copy of The Press<\/em> has been raised 50% (to $3), although you can buy it in Brigantine for $1.25 at Dollar Tree<\/strong>. Oh, and the “Sunday” comics are now published on Saturday … Caesars Entertainment<\/strong> has thrown in its lot with the Iowa Tribe of Oklahoma<\/strong> to manage a new casino<\/a> strategically located betwixt Tulsa<\/strong> and Oklahoma City<\/strong>. Few details of the project are available at this time.<\/p>\n","protected":false},"excerpt":{"rendered":"

New product lifted Illinois‘ gambling grosses last month, as same-store revenues slipped 1%. The overall haul was $128 million and much of the propulsion came from The Temporary at American Place in Waukegan and its $7 million take. Hard Rock Rockford rocketed 21.5% to $6 million, while Rivers Des Plaines dipped 2% but still lapped […]<\/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\/32619"}],"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=32619"}],"version-history":[{"count":0,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/posts\/32619\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/media?parent=32619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/categories?post=32619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/tags?post=32619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}