It would appear that the Massachusetts Gaming Commission has tacitly bowed to ballot language that would require any restructuring of the Suffolk Downs casino deal to be submitted for a re-vote. Fresh off the wires comes news that the MGC has granted a waiver under which the Downs and Mohegan Sun can pursue their plans … for now. But a second vote will have to be held in Revere in February, to approved the revised design and deal.
In retrospect, Pinnacle Entertainment is probably going to be glad the Federal Trade Commission made it divest Lumiere Place. Had the sale to Tropicana Entertainment gone through by November, Pinnacle would be looking at 3% in casino revenues, thanks to a 13% leap at River City and despite 5% less business at Ameristar Star St. Charles. However, the Trop transaction won’t close for a while yet and Pinnacle had to swallow a 13% dropoff of at Lumiere. Traffic has leveled off at Hollywood Casino St. Louis, which was flat from last year.
Would it were even flat at Isle of Capri Cape Girardeau, which saw business fall 13%. Safe to say the novelty factor has worn off. Isle’s fleet of riverboats had a very mixed month, down 4.5%. Only Harrah’s North Kansas City did well (3%) in that market, compared to declines for Isle (-5%), Penn National Gaming‘s Argosy Riverside (-3%) and fairly shocking 10% plunge at Ameristar Kansas City. Ameristar’s properties rarely performance that weakly, hence the shock.
