{"id":32717,"date":"2023-06-23T08:56:24","date_gmt":"2023-06-23T16:56:24","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=32717"},"modified":"2023-09-14T14:03:20","modified_gmt":"2023-09-14T22:03:20","slug":"michigan-pennsylvania-strong-online-mega-jottings","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/blog\/michigan-pennsylvania-strong-online-mega-jottings\/","title":{"rendered":"Michigan, Pennsylvania strong online; Mega-Jottings"},"content":{"rendered":"\n
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Our vacation has taken us to the wilds of Michigan<\/strong>, so today’s report will start there. Detroit<\/strong>‘s three casinos raked in $105 million last month, a 1.5% decline from May of last year. But it was a terrific month for Hollywood Detroit<\/strong>, which captured business from its competitors, up 7.5% to $23 million. MGM Grand Detroit<\/strong> ceded 1.5% but made $49 million, while MotorCity<\/strong>‘s $32 million represented a 7% shortfall. While Penn Entertainment<\/strong>‘s Greektown gain was not as spectacular as those of January and February (16% and 12% respectively) the comparisons have been strongly positive all year, signaling that Penn has turned the place around.<\/p>\n\n\n\n\n\n\n\n

Internet casinos outgrossed terrestrial ones again, $150.5 million to the good. That’s an 18% upsurge. BetMGM<\/strong> was out in front with $47.5 million, while second place was a heat between DraftKings<\/strong> ($34 million) and FanDuel<\/strong> ($30 million). Traditional casino providers not named ‘MGM’ tended to fare far less well: BetRivers<\/strong> ($9 million), Caesars Entertainment<\/strong> ($7 million), WynnBet<\/strong> ($5 million), with Barstool Sports<\/strong> contributing $3 million. Sports betting yielded $35 million of revenue out of $283 million in handle\u2014but one dollar in three went right back out in promotions. FanDuel was utterly dominant with $17.5 million, weakly contested by DraftKings ($8 million), BetMGM ($6 million) and Barstool ($1 million). PointsBet<\/strong>, Caesars Sportsbook<\/strong>, BetRivers, Bet America<\/strong>, FoxBet<\/strong>, Parx<\/strong>, Four Winds<\/strong> and Wynn all made next to nothing.<\/p>\n\n\n\n

Gambling revenues in Pennsylvania<\/strong> have retreated a bit (-2%) from last year and\u2014thanks to saturation\u2014quite a bit from 2019 (13%). The statewide gross in May was $292.5 million. Parx Casino<\/strong> was flat but led the pack with an impressive $52 million. The remainder of the Philadelphia<\/strong> market saw Rivers Philadelphia<\/strong> making a 3.5% gain to best Philadelphia Live<\/strong> (-8%) $20 million to $18.5 million. Harrah’s Philadelphia<\/strong>, out in Chester<\/strong>, plunged 16.5% to $13 million while Valley Forge Casino Resort<\/strong> climbed 3% to $12 million. The novelty value of Harrah’s has clearly long since worn off and being across the street from the state pen can’t help either.<\/p>\n\n\n\n

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Wind Creek Bethlehem rendering<\/figcaption><\/figure><\/div>\n\n\n\n

Nobody lost market share in Pittsburgh<\/strong>. Although flat, The Rivers<\/strong> was out front with $30 million. Hollywood Meadows was also flat but managed $16.5 million, while Pittsburgh Live<\/strong> climbed 1.5% to $9.5 million, so everybody was happy. Despite a -6.5% trough, Wind Creek Bethlehem<\/strong> grossed $44 million to lead the regional properties. Next best and not nearly as boffo was Mohegan Sun Pocono<\/strong>, flat at $18.5 million, then Mount Airy<\/strong>, up 10% to $16.5 million. Presque Isle Downs<\/strong> was down 8.5% to $9 million, Hollywood Penn National<\/strong> was off 4.5% to $15 million and Lady Luck Nemacolin<\/strong>, last survivor of the Lady Luck brand, slid 19% to $2 million. As for the newer satellites, infant Parx Shippensburg<\/strong> normalized with $3 million, Hollywood Morgantown<\/strong> vaulted 17.5% to $5.5 million and Hollywood York<\/strong> leapt 15% to $8 million.<\/p>\n\n\n\n

Internet casinos surged in May, up 24% to $141 million. The DraftKings\/BetMGM\/Penn license garned $58.5 million whilst BetRivers and FanDuel were neck and neck at $29.5 million. Although promotional giveaways were a robust $16.5 million, handle of $495.5 million boiled down to $57.5 million. FanDuel led DraftKings in market share of revenue, $22.5 million to $9 million, trailed by BetRivers ($2.5 million), Parx ($1.5 million), Barstool ($1.5 million) and BetMGM ($1.5 million), with Caesars Sportsbook and FoxBet eating dust.<\/p>\n\n\n\n

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Jottings<\/em><\/strong>: While Caesars Entertainment <\/strong>and others are cashing in on Virginia<\/strong> casinos, the Pamunkey Tribe<\/strong> has been left at the post. They’ve just submitted plans for Phase I of their Norfolk<\/strong> casino\u2014one year late<\/a>. To be called Headwaters Resort & Casino <\/strong>(kind of ironic since it’s at the mouth of a river), the project will be a sleek, $100 million facility that will take two years to construct … Play ball, bettors! Wrigley Field<\/strong> opens its DraftKings<\/strong>-branded sports book on Tuesday. Actually, there won’t be any terrestrial betting at first<\/a>, since DraftKings doesn’t have license yet, leaving patrons to view a glorified sports bar. Worse yet, “Fans attending a Cubs game won’t be able to slide over to the sportsbook and return” … International business may be returning to Las Vegas<\/strong> but mostly from oft-demonized<\/a> Mexico<\/strong> and Canada<\/strong>, so maybe we should speak of them better. Third is the United Kingdom<\/strong>, a strong market with potential to grow still further. Australia<\/strong> and Germany<\/strong> are also represented on the leader board but the Pacific Rim makes a poor showing … <\/p>\n\n\n\n

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Genting Group<\/strong>‘s $1.2 billion Miami<\/strong> splurge in real estate is proving to be a white elephant<\/a>. Long years after the megaresort push in Florida <\/strong>collapsed, the company is still trying to vend the 15.5 acres of waterfront property it rashly purchased. A deal with Smart Miami City <\/strong>fell through after Genting lost patience this week … Encore Boston Harbor<\/strong> is far and away Massachusetts<\/strong>‘ top casino and employees want a bigger piece of the action. Workers, who have not had a contract since April, voted overwhelmingly<\/a> to go on strike next Friday … A Nebraska<\/strong> racino in Hastings<\/strong> hasn’t even been built yet and already it’s looking to greener pastures. Hastings Exposition & Racing<\/strong> wants to pull up stakes<\/a> and move to Ogallala<\/strong>, where it would partner with Elite Casino Resorts<\/strong> on a $100 million racino. In addition to quarter horse racing, it would offer 650 slots and 20 table games … Elsewhere in Nebraska, the state’s first sports book has opened<\/a> in Lincoln<\/strong>. It’s run by Kambi Group<\/strong>, which is currently taking over ailing Bally Bet<\/strong>, too … Graton Rancheria<\/strong> is doubling the size<\/a> of its Rohnert Park<\/strong> casino in California<\/strong>. When completed, an additional 2,000 slots will be on offer, along with a 3,500-seat concert hall.<\/p>\n","protected":false},"excerpt":{"rendered":"

Our vacation has taken us to the wilds of Michigan, so today’s report will start there. Detroit‘s three casinos raked in $105 million last month, a 1.5% decline from May of last year. But it was a terrific month for Hollywood Detroit, which captured business from its competitors, up 7.5% to $23 million. MGM Grand […]<\/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\/32717"}],"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=32717"}],"version-history":[{"count":0,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/posts\/32717\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/media?parent=32717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/categories?post=32717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/tags?post=32717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}