Just when everything seemed settled into a comfortable groove in Atlantic City, January revenues fell off the table, down 12.5%. The silver lining, if it qualifies as that, was that online revenues ($22 million) climbed 17%. Golden Nugget, with 33% market share, far outdistanced its closest competitor, Borgata, with 19%. For someone who was initially baffled by the Atlantic City market, Tilman Fertitta has figured it out with a vengeance, Not even Borgata’s terrestrial gambling was spared: Its $53.5 million was an 11.5% decline, with slots revenue of $35 million down 9% on 7% lower coin-in. Borgata tables ($16 million) tumbled 17%, as players wagered 10% less. No casino was spared in the downturn: Tropicana Atlantic City ($23 million) and Resorts Atlantic City ($11.5 million) stanched the bleeding best, off 6%. Grind joint Bally’s fared best in the Caesars Entertainment trio, down 9% with $13 million. Caesars Atlantic City fell a near-catastrophic 23%, grossing $22 million, while Harrah’s Resort was 16% off the pace with $23.5 million. Golden Nugget was 12% down, grossing $16 million.
* Strictly for the record, since nothing much changes in the Detroit market, January was another good month for MGM Grand Detroit, grossing $48 million, up 1%. MotorCity lost a percentage point, to come in at $38 million and soon-to-be Jack Detroit (or whatever jackass name Dan Gilbert puts on it) finished its traditional third place, with $26 million, down 3%.
* Pennsylvania continues its idiosyncratic habit of reporting slot revenue ahead of table game dollars. No surprise, Parx Casino was out front with $31 million (up 2%), thoroughly dominating the Philadelphia market. SugarHouse Casino slots were flat with $14 million, Harrah’s Philadelphia was 3% up to almost $16 million and Valley Forge Casino clocked in with almost $7 million (up 2%). In the northeast, Mount Airy was flat with $10.5 million, while Mohegan Sun Pocono Downs slipped 3.5% to finish at $15.5 million. Big grossers at the one-armed bandits were Pittsburgh‘s Rivers Casino ($21 million, -2%) and Sands Bethlehem ($23 million, -3.5%). By contrast, Lady Luck Nemacolin (-2%) barely seems worth mentioning with a paltry $2 million gross. Meanwhile at the racinos, Presque Isle Downs gained 3% on an $8 million gross, The Meadows tumbled 10% to $15 million, while Hollywood Casino at Penn National slid 3.5% to $15.5 million. It’s ironic that the red-hot auctions for mini-casino licenses should be taking place against this backdrop of saturation.
* Evidently the “What happens here, stays here” mentality extends to the animal kingdom. Case in point, a bull who was found casually checking out the West Side neighborhood of Las Vegas for at least four hours yesterday. “We just basically managed the situation, stayed calm and provided a calm environment so the animal wouldn’t go crazy and run into anyone or anything,” said Las Vegas Metro Lt. Carlos Hank. Added the Las Vegas Review-Journal, “a neighbor also pitched in by feeding the bull alfalfa to help calm him down.” That’s community spirit in action. This is a not-uncommon occurrence. Almost a year ago to the day, a bull made a break for freedom in the Texas Station area. Judging from its maltreated appearance, that bullock may have had good cause to run for it. The beef on display yesterday looked well-fed and calm. Las Vegas: Where “bull market” takes on a whole new meaning.
* While we’re in the vicinity of Station Casinos, it should be noted that a federal officer for the National Labor Relations Board rejected Station’s challenges to a union-certification election at Green Valley Ranch. As you have obviously gathered, the ballot went against Station. Although the company wrested a major concession from the Culinary Union when it got the latter to agree to secret-ballot elections rather than card checks, that has not stopped it from digging in against Culinary electoral victories. We don’t blame the Fertitta Brothers for exercising their prerogatives (which include one more potential appeal) but they’re on the losing side of history, Boulder and Palace Stations having already fallen to the Culinary. As the social safety net continues to fray, the benefits — in both senses — of a Culinary contract will look increasingly attractive.
In announcing the NLRB, the Culinary managed to be temperate in its language, saying it would “urge Station Casinos to recognize their workers’ voices and votes, and begin contract negotiations in good faith immediately.” Instead, it used Station’s own words against it, citing five quotations by spokeswoman Lori Nelson and one by President Richard Haskins saying things like “We have said all along that if a fair and lawful election is held we will abide by the results.” (Haskins) Now it’s time for the rubber to meet the road.
I gotta hand it to Tilman and the GN team in AC. They brought a buzz back to what was always a nicely located property that just needed some TLC.