{"id":841865,"date":"2022-10-18T08:07:35","date_gmt":"2022-10-18T16:07:35","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=31753"},"modified":"2023-09-14T14:03:26","modified_gmt":"2023-09-14T22:03:26","slug":"atlantic-city-slows-massachusetts-doesnt-mega-jottings","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/blog\/atlantic-city-slows-massachusetts-doesnt-mega-jottings\/","title":{"rendered":"Atlantic City slows, Massachusetts doesn’t; Mega-Jottings"},"content":{"rendered":"\n
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Atlantic City<\/strong> casinos grossed $252 million last month, up 1% year\/year. A 2.5% hop in slot revenue ($186.5 million) on 1% more coin-in more than made up for a 2% dip in table win ($63.5 million) on 5% lower wagering. Borgata<\/strong> was comfortably in front with $62 million (+3.5%), outdistancing Hard Rock Atlantic City<\/strong>‘s $44 million (+6%) and Ocean Casino Resort<\/strong>‘s $30.5 million (+5%). Caesars Entertainment<\/strong>‘s threesome suffered a -15.5% reversal at Harrah’s Resort<\/strong> ($23 million) while Caesars Atlantic City<\/strong> was revenue-positive ($22.5 million, +2%), but Tropicana Atlantic City<\/strong> wasn’t ($23.5 million, -4%). Caesars’ official position is ‘Let’s wait and see when the $400 million capex kicks in’ but it may have to settle for middling status in a market dominated by relative newcomers. By contrast, Bally’s Atlantic City<\/strong> enjoyed a comeback month, leaping 13% to $16 million. Resorts Atlantic City<\/strong> sagged 3% to $17 million, while Golden Nugget<\/strong> enjoyed one of its better months, climbing 4% to $13.5 million, not enough to keep it out of last place.<\/p>\n\n\n\n\n\n\n\n

A 14% decline in handle helped lead to only $98 million in sports betting revenue, on significantly tighter hold than in the September previous. J.P. Morgan<\/strong> estimates have FanDuel<\/strong> first with $40 million, followed by DraftKings<\/strong>‘ $22 million, BetMGM<\/strong>‘s $10 million, Caesars Sportsbook<\/strong>‘s $10 million and Barstool Sports<\/strong>‘ $4 million. Internet gambling revenue climbed 10% to hit $135 million. Here, BetMGM was tops with $41 million, closely dogged by DraftKings ($39 million), then much further back are FanDuel ($14 million) and Caesars ($12 million).<\/p>\n\n\n\n

Massachusetts<\/strong>‘ three casinos won $94.5 million last month, a 6% lift. At $61.5 million, Encore Boston Harbor<\/strong> ran away from the field, up 7%. Its slots rose 5% and its tables 10%, vindicating Wynn Resorts<\/strong>‘ high-roller strategy. MGM Springfield<\/strong> continues to reverse its fortunes, gaining 6% to hit $20.5 million, as table revenues rocketed an amazing 51%. And to think we told them to junk the tables. MGM Resorts International<\/strong> is having the last laugh. Plainridge Park<\/strong> also got in on the fun, up 1% for $12 million in win.<\/p>\n\n\n\n

Big Gaming might, having gone all-in on New York<\/strong> Gov. Kathy Hochul<\/strong> (D), want to hedge its bets now that challenger Lee Zeldin<\/strong> (R) has improbably closed to within striking distance<\/a>, with three weeks remaining. One poll shows the race statistically tied but it’s an extreme outlier. On average, Zeldin is five points back but this should never have been a close race. However, Hochul has shied away from confronting Zeldin\u2014and running scared is never a good look. Supplicants for New York City<\/strong> casinos, meanwhile, would have good reason to fear the wrath of Zeldin if he pulls off an upset.<\/p>\n\n\n\n

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Jottings<\/em><\/strong>: Almost 25,000 people turned out for this year’s Global Gaming Expo<\/strong>, a success by any measure. It was twice the attendance of 2021’s show<\/a> and just shy of 2019’s record 27,000 … So what’s happening with Diamond Jacks<\/strong> in Bossier City<\/strong>? It’s “dilapidated” but not dead. New owner Foundation Gaming<\/strong> is seeking state approval for renovation plans that could top out at a $200 million investment<\/a>. “I’ve been very impressed with Foundation and I feel very confident they will inject new life into the property, which is good for Shreveport-Bossier<\/strong> and for Louisiana<\/strong>,” said top regulator Ronnie Johns<\/strong> … Sports betting and Internet gambling continue to trend upward in Ontario<\/strong>, with operators grossing $267 million<\/a> on over $6 billion in handle. The average spend per player is $142 a month …. To the fear and trembling of British online casino operators, Prime Minister Liz Truss<\/strong> will release the dreaded White Paper “in a few weeks” … Defying the Alabama<\/strong> attorney general and supreme court, GreeneTrack<\/strong> has reopened, offering Class II gambling, now in the form of historical horse racing<\/a>. Owner Luther Winn<\/strong> said, \u201cWe are going through the reopening process because the attorney general of the state of Alabama does not recognize the people in Greene County<\/strong> and does not recognize the legislation that we passed in 1986 exempting GreeneTrack from sales tax” … Better late than never: Fanatics <\/strong>says it is ready to launch sports wagering in as many as 20 states<\/a> by the next NFL season. Then again, CEO Michael Rubin<\/strong> had promised that he’d be taking Philadelphia 76ers<\/strong> actions by the end of this year … Public opinion backs a Menominee Tribe<\/strong>\/Hard Rock International<\/strong> casino in Kenosha<\/strong>. A Tarrance Group<\/strong> poll indicates 60% of area residents are for the development<\/a> and only 16% against, with support especially high amongst Millennials and Generation X … It took eight years but Bermuda<\/strong> has finally issued a casino license. It went to the beachside St. Regis Hotel<\/strong> … Internet gambling is proving a hard sell<\/a>, G2E attendees were told. “No one outside of the gaming industry is interested in pushing forward in iGaming right now. To interest legislators, you need third-party validators,” said Jonathan Michaels<\/strong> of Sightline Payments<\/strong>. Furthermore, post-pandemic stimulus outlays are leaving states flush with cash and not in need of new tax revenue … Finally, heartfelt congratulations<\/a> to Matt Wilson<\/strong>, new permanent CEO of Light & Wonder<\/strong>. We predicted he wouldn’t be “interim” boss for long. Board Chairman Jamie Odell<\/strong>, \u201cMatt has demonstrated impressive leadership, strategic vision, and a passion for our business. The board is confident in Matt\u2019s ability to unlock the full potential of Light & Wonder as we enter this exciting next chapter.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Atlantic City casinos grossed $252 million last month, up 1% year\/year. A 2.5% hop in slot revenue ($186.5 million) on 1% more coin-in more than made up for a 2% dip in table win ($63.5 million) on 5% lower wagering. Borgata was comfortably in front with $62 million (+3.5%), outdistancing Hard Rock Atlantic City‘s $44 […]<\/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\/841865"}],"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=841865"}],"version-history":[{"count":0,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/posts\/841865\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/media?parent=841865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/categories?post=841865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/tags?post=841865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}