*Slot revenues at Pennsylvania casinos are in and if JP Morgan‘s numbers are correct they were terrible. According to Morgan analysts slot winnings dove 27%, bottoming out at
$187.5 million. Worst off was Sands Bethlehem ($25 million), sinking 44%, followed by Parx Casino, tumbling 28% to $33 million. The best of the worst was Lady Luck Nemacolin ($2 million), only off 6%. SugarHouse Casino plunged 41% to $14 million (a palindromic plunge), while sibling Rivers Casino was down 17.5% to $23 million. Harrah’s Philadelphia fell 27% to $16 million. Valley Forge Resort Casino eked out $7 million, falling 23.5%. The litany of woe continued outstate at Mount Airy ($10.5 million), down 21%, Mohegan Sun ($16 million), minus 20%, and Presque Isle Downs ($8) million, down 10%. The Meadows Racino ($16.5 million) took an 18% hit and Penn National‘s eponymous racino fell 16% to $17 million. That’s the end of the carnage and thank God for that.
* Detroit‘s casino market was nothing to write home about last month. MGM Grand Detroit was down 2%, albeit with $50 million in the kitty. Motor City, with $40 million, was flat and Greektown Hotel-Casino was also flat, bringing up the rear with $26 million. Slots vastly dominate the market, which grossed $1.4 billion last year.
* West Virginia is try, trying again with both sports betting and Internet gambling. The latter would only be available to players 21 or older, with geofencing mandated. The bill is business-friendly, with a 14% tax rate and $50,000 licensing fee. Perhaps the underwhelming results in Nevada and Delaware have moved West Virginia politicos towards saner expectations for online gambling. Although Speaker of the House Tim Armstead (R) has been opposed in the past, proponents and quietly optimistic this time around. We’ll see.
* As the Mashpee Wampanoags seemingly back away from a Massachusetts casino, the Wampanoag Tribe of Gay Head moves to fill the void. In a bit of political jujitsu, the band hopes to use Martha’s Vineyard‘s aversion to a casino to open up possibilities
on the mainland. Although Chairwoman Cheryl Andrews-Maltais maintains that the tribe’s focus is Martha’s Vineyard, the Aquinnah have a history of kicking the tires on mainland opportunities, most notably in New Bedford. Two other ventures were rejected at the ballot box.
“From a marketing standpoint [Martha’s Vineyard] is just a horrible location for a casino,” says casino expert Clyde Barrow. “You don’t go to Martha’s Vineyard to play slot machines.” On the other hand, he points out, putting a tribal casino on the mainland would mean amending the 2011 casino enabling legislation (which juiced the Mashpee Wampanoag into a casino for southeastern Massachusetts). “If they were to go down that road, it’s another decade away, in my view. It’s way down the road and a lot of politics.” Since a Vineyard Class II casino wouldn’t have to compact with the state, it could keep all of its projected $3 million annual gross for itself. Although not directly involved, both the Massachusetts Gaming Commission and Gov. Charlie Baker (R) say they are following the story with interest … as are we.
* Sigma Derby fans take heart: Konami Gaming‘s Fortune Cup could be approved shortly for Nevada. It could turn the tide of horse-racing games in Las Vegas. Both MGM Grand (perhaps mulling a successor to its venerable Sigma Derby machine) and Venetian are currently field testing it, with The Orleans and Red Rock Resort ready to deploy it late this month. This is the best news of the new year. Tally ho!
* The big story out of the Minnesota Vikings‘ come-from-behind win over the New Orleans Saints wasn’t the egregiously inept pass coverage that allowed the Vikes to score the climactic touchdown. No, it’s their failure to kick the mandatory extra point. Somebody at U.S. Bank Stadium didn’t get the memo that what matters isn’t whether you won or lost but whether you covered the spread.
