Atlantic City was stable last month, defying an unfavorable calendar (one less weekend day) and grossing $191.5 million, while online gambling had its second-best-ever month, pulling in $23 million 
(+10.5%). Slot handle was down 3.5%, as was revenue, while a tiny increase in table wagering produced 12.5% more winnings for the casinos. Borgata stumbled, down 9% to $53 million, although all Atlantic City casinos would like to trip so badly. The culprit was a 39% plunge in table winnings ($9.5 million), while slot revenue grew 2% to $42 million. It had the second-best share of Internet-gambling revenue — 20% — although well behind Golden Nugget‘s 35% share.
Both Harrah’s Resort and Caesars Atlantic City clocked in at $29 million, 8% and 4% gains respectively. Bally’s didn’t have it so good, down 11% to $15 million, last place. Despite a 2.5% decline, Tropicana Atlantic City threatened to crash Caesars’ party, with a $27.5 million gross. (It’s come a long way up from the spare-every-expense Columbia Sussex era.) Resorts Atlantic City continues to climb the charts with a $17 million gross and 23% gain. Golden Nugget grossed $20 million, up 11.5%. 
While I doubt that the threat of a Showboat casino has anyone shaking in their boots, the double-whammy of Hard Rock Atlantic City and Ocean Resort on June 28 makes this time to gather ye rosebuds while ye may.
* Dan Gilbert had a relatively good April at Jack Detroit, which was flat last month, grossing $29 million. That paled, however, next to MotorCity‘s $44 million (up 4%), to say nothing of MGM Grand Detroit‘s 51% (+3%).
* I’ll never understand why Pennsylvania doesn’t report slot and table-game numbers simultaneously but the slot numbers are out, and there wasn’t much cause for celebration. Predictably, Parx Casino was tops in 
slots, up 6% to $35.5 million. Sands Bethlehem, by contrast, was down a point to $26 million. Rivers Casino rounded up the top three, up 4% to $24 million. Penn National‘s flagship racino logged $18.5 million, down 2%. Harrah’s Philadelphia (down 3%), The Meadows (off 8.5%) and Mohegan Sun (down 3.5%) were all bunched around the $17.5 million mark. Among the smaller casinos, Presque Isle Downs was up 7% to $10 million while Mount Airy was flat at $12.5 million. Normal urban strongman SugarHouse was down a point to $16 million. Elsewhere in the Philadelphia area, Valley Forge gained 9% for an $8 million gross, while out in the sticks Lady Luck Nemacolin fell 11% to $12 million.
Speaking of Valley Forge, Boyd Gaming expects to generate $21 million a year in free cash flow from the pocket-sized casino. Boyd’s acquisition of Illinois slot-route operator Lattner Entertainment played to a positive review from JP Morgan analysts who bumped the price target for the stock up a dollar to $40. Lattner represents only a drop in the bucket of Illinois slot routes but we’re glad to see Boyd getting into the game and only wish it had done it sooner, before Par-A-Dice bled so much revenue.
* “Harsh weather” is being blamed for an 8% decline in Louisiana gaming receipts last month, with New Orleans (-19%) having the worst of it. Lake Charles (-2%) was relatively unscathed while Baton Rouge tumbled 12% and Bossier City/Shreveport was dinged 5.5%. Somehow, Boyd managed to emerge from this with a 2.5% uptick while Caesars Entertainment was punished to the tune of 21%. Pinnacle Entertainment (-10%) and Eldorado Resorts (-13.5%) also absorbed their share of punishment. The New Orleans numbers were somewhat distorted since Harrah’s New Orleans was coming off a stellar May 2017 (a moonshot +42.5%), so its 32% decline looks that much worse.
Pinnacle’s Boomtown New Orleans was off 2% ($10 million), its Boomtown Bossier ($4.5 million) plummeted 15%. L’Auberge Lake Charles slid 9% ($27 million) while L’Auberge Baton Rouge ($13 million) skidded 15%. Eldorado Resorts had a bad month at Eldorado Shreveport (-8%, $10 million) and a terrible one at Isle Grand Palais (-20%). As indicated, Boyd beat the odds in every market. Sam’s Town Shreveport was up 5% to $6 million, Treasure Chest grew 2% to $9.5 million and Delta Downs jumped 7.5% to $15.5 million. Evangeline Downs was flat but Amelia Belle was up 3%. As for everybody else, we reckon they’re happy to see April in their rearview mirror.
