{"id":877818,"date":"2025-02-24T10:00:00","date_gmt":"2025-02-24T18:00:00","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/shop\/?p=877818"},"modified":"2025-02-24T10:00:06","modified_gmt":"2025-02-24T18:00:06","slug":"back-to-business","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/blog\/back-to-business\/","title":{"rendered":"Back to business …"},"content":{"rendered":"\n

But first, a quickie Oscar update.<\/strong> A major upset appears to be brewing in Hollywood<\/strong>. Last night, Conclave<\/em> took Best Ensemble<\/strong> at the Screen Actors Guild Awards<\/strong>. Why is this significant? Because this award has foretold four of the last five Best Picture<\/strong> winners at the Academy Awards<\/strong> (Parasite<\/em>, CODA<\/em>, Everything Everywhere All At Once<\/em>, Oppenheimer<\/em>). So we’re pushing our chips to the middle of the table and saying put them on Conclave<\/em> (+225). Also, I’m Still Here<\/em> has pulled (decisively?) ahead of Emilia Perez<\/em> for Best International Feature<\/strong>, -140 to +110. Now, back to our regularly scheduled programming …<\/p>\n\n\n\n\n\n\n\n

Only iGaming could celebrate<\/strong> an unambiguous victory in Pennsylvania<\/strong>, leaping 35% from January 2024. Yes, casinos saw 4% higher tallies … but they were 15% off the 2019 pace on a same-store basis. And sports books had a rough month, down 13%, despite slightly higher (2%) handle. Reversing revenue setbacks from its smoking ban, Parx Casino<\/strong> was way out in front, up 3.5% to $45.5 million. Its nearest Philadelphia<\/strong>-area rival was Philadelphia Live<\/strong> with $20.5 million, up 4%. Rivers Philadelphia<\/strong> faded badly: -15.5% to $15 million. Perceptions that it’s in a bad area (unlike its Cordish Gaming<\/strong> immediate rival) are surely taking their toll. Valley Forge Casino Resort<\/strong> climbed 6.5% to $11.5 million while Harrah’s Philadelphia<\/strong> (pictured<\/em>) dipped 1% to $10.5 million.<\/p>\n\n\n

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Elsewhere in the state, the Poarch Band of Creek Indians<\/strong> continued to dominate with Wind Creek Bethlehem<\/strong>‘s $40.5 million (flat). Presque Isle Downs<\/strong> had a good month, up 9% to $6.5 million (Erie <\/strong>in the winter is pretty darn dead), Mohegan Pocono<\/strong> galloped 10.5% to $16.5 million and Mount Airy Resort <\/strong>was up 14% to $14.5 million. Hollywood Penn National<\/strong> had one of its better recent months, jumping 10.5% to $12.5 million whilst Rivers Pittsburgh<\/strong> climbed 10% to $27 million. Its competitors had mixed results: Pittsburgh Live<\/strong> was up 2.5% to $8.5 million but Hollywood Meadows<\/strong> sagged 7% to $13 million. Petite Lady Luck Nemacolin<\/strong> vaulted 20% to $2 million, continuing its comeback saga, and Parx Shipppensburg<\/strong> grew 13% to $3 million. Hollywood Morgantown<\/strong> enjoyed the Keystone State’s most dramatic performance, +27% to $6 million, and Hollywood York<\/strong> rounded out the picture, up 5.5% to $8 million.<\/p>\n\n\n\n

iGaming performance ($210 million) was led by the omnibus Hollywood Casino<\/strong> site, with its $79.5 million. FanDuel <\/strong>did well for itself with with $57.5 million while formerly dominant BetRivers<\/strong> had to settle for $35.5 million. Sports betting saw 9.5% hold on $870 million of handle. Not bad, considering that luck wasn’t with the books. Only Caesars Sportsbook<\/strong> gained share\u2014and yet made so little it fell below $1 million in win. FanDuel led DraftKings<\/strong>, $44.5 million to $23 million. Parx<\/strong> also missed the cutoff, but BetMGM<\/strong> did a respectable $5.5 million. Others varyingly in the hunt were BetRivers<\/strong> ($2 million) and ESPN Bet<\/strong> ($1 million).<\/p>\n\n\n

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Sports books creamed<\/strong> the bettors in Massachusetts<\/strong> as well, where handle leapt 18% and a 12.5% hold percentage translated into 33% greater win. DraftKings<\/strong> clobbered FanDuel<\/strong>, $57.5 million to $29 million. BetMGM<\/strong> clung to the three spot with $5.5 million, chased by Fanatics<\/strong> ($3.5 million), ESPN Bet<\/strong> ($2.5 million) and Caesars Sportsbook<\/strong> ($1 million). Terrestrial casinos combined for $98 million, led naturally by Encore Boston Harbor<\/strong>‘s $61.5 million (+1%), despite an unremarkable month at the tables. It was followed by MGM Springfield<\/strong>‘s $23 million, a 10% surge powered almost entirely by slot play. Plainridge Park<\/strong> had yet another good month, its $14 million representing a 16% jump.<\/p>\n\n\n\n

iGaming and OSB revenues<\/strong> from the great state of Michigan<\/strong> just came across the transom, and it was a boffo month of January. iGaming was catapulted 36% higher and sports betting saw winnings catapulted 74%, despite handle that was 4% lower. It was a knife fight for supremacy in iGaming, as BetMGM<\/strong> ($66.5 million) had to fend off FanDuel<\/strong> ($64 million) in what should be BetMGM’s wheelhouse. DraftKings<\/strong> racked up an impressive $54 million. Further back were Caesars Palace Online<\/strong> ($16 million), BetRivers<\/strong> ($16 million) and Hollywood Casino<\/strong> ($6 million). Books could afford to be George, as revenue of $83 million was diluted by $28 million in promos. FanDuel was particularly lavish about buying business and it paid off with $40.5 million in win, followed by DraftKings ($22 million) and BetMGM ($10 million). Participation trophies went to Fanatics<\/strong> ($4 million), ESPN Bet<\/strong> ($2.5 million), Caesars Sportsbook<\/strong> ($1.5 million) and BetRivers ($1 million).<\/p>\n\n\n\n

There never seems to be<\/strong> such a thing as an unambiguous recovery in Louisiana<\/strong>. Yes, tallies were 10.5% higher last month than in 2024, for a grand total of $180 million. However, it was measured against one of the weakest months in Pelican State casino history. Savage weather in January 2024 drove casino winnings down 15.5%. So this past January didn’t have a high hurdle to clear. Soaring 86.5% to $12 million, Treasure Chest<\/strong> continues to set the pace in New Orleans<\/strong>. Rebranded Caesars New Orleans<\/strong> ramped down to the Super Bowl<\/strong> with $18 million, a 2.5% dip and certain disappointment. Boomtown New Orleans<\/strong> dropped 4% to $9 million and Fair Grounds<\/strong> slipped 2.5% to $3 million. Outlying Amelia Belle<\/strong> was down 1% to $2.5 million and Evangeline Downs<\/strong> hopped 3.5% to $5.5 million.<\/p>\n\n\n

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The leading market, Lake Charles<\/strong>, saw Golden Nugget<\/strong> (+6.5%) narrowly prevail over L’Auberge du Lac<\/strong> (+13.5%) $24 million to $23 million. Horseshoe Lake Charles<\/strong> finally got up off the canvas with a 38.5% leap to $8 million and Delta Downs<\/strong> hopped 4% to $11.5 million. Baton Rouge<\/strong> continues to see a Queen Casino<\/strong> runup, +26% to $7.5 million. L’Auberge Baton Rouge<\/strong> slipped 2% to $13 million and Belle of Baton Rouge<\/strong> plunged 19% to $500K. It can’t be put out of out its misery too soon. As the Bossier City<\/strong> market braced for the impact of Louisiana Live<\/strong> (debuted 2\/13\/25), Margaritaville<\/strong> continued to prevail, up 9% to $14 million. On-again\/off-again Horseshoe Bossier City<\/strong> had one of its “on” months, up 9% to $10 million, while Boomtown Bossier<\/strong> hopped 2.5% to $3 million. Louisiana Downs <\/strong>was up 2% to $3 million, while Shreveport<\/strong> was led by Bally’s Shreveport<\/strong>, which catapulted 34% to $9 million. Sam’s Town<\/strong> was flat with $2.5 million.<\/p>\n\n\n\n

U.S. casino<\/strong> interests in Macao<\/strong> got some bad news the could probably live without … although you had to read the overseas press to get the story. It’s flown under the radar domestically. Macao is one of the territories designated a ‘foreign adversary’ in a new White House directive<\/a>. The fatwa<\/em> lumps it with China<\/strong> proper, Hong Kong<\/strong>, Cuba<\/strong>, Iran<\/strong>, North Korea<\/strong>, Russia<\/strong> and Venezuela<\/strong>. Investment in those jurisdictions is to be discouraged by the Committee on Foreign Investment in the United States. <\/p>\n\n\n\n

Our first reaction is that Miriam Adelson<\/strong> just got a swift and ungrateful kick in the rump from her idol. Mind you, the order from Washington, D.C.<\/strong>, is meant to stem Macanese investment inside<\/em> this country, not from<\/em> it. But it must come as a rude surprise to Las Vegas Sands<\/strong>, MGM Resorts International<\/strong> and Wynn Resorts<\/strong> to suddenly find themselves doing business on enemy soil.<\/p>\n","protected":false},"excerpt":{"rendered":"

But first, a quickie Oscar update. A major upset appears to be brewing in Hollywood. Last night, Conclave took Best Ensemble at the Screen Actors Guild Awards. Why is this significant? Because this award has foretold four of the last five Best Picture winners at the Academy Awards (Parasite, CODA, Everything Everywhere All At Once, […]<\/p>\n","protected":false},"author":83928,"featured_media":877826,"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":true,"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":"https:\/\/i0.wp.com\/www.lasvegasadvisor.com\/shop\/wp-content\/uploads\/2025\/02\/Conclave_b6ed30.webp?fit=1000%2C667&ssl=1","_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/posts\/877818"}],"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=877818"}],"version-history":[{"count":2,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/posts\/877818\/revisions"}],"predecessor-version":[{"id":877851,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/posts\/877818\/revisions\/877851"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/media\/877826"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/media?parent=877818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/categories?post=877818"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/tags?post=877818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}