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- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
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Category Archives: Atlantic City
Churchill Downs hearts casinos; Cleveland still not rocking
Churchill Downs is going all-in on sports betting, planning to leverage its (soon-to-be) access to the Pennsylvania and Mississippi markets, plus its relationship with the Golden Nugget in Atlantic City. However, the sky-high tax rate (34%) in Pennsylvania may translate … Continue reading
Posted in Atlantic City, Churchill Downs, Dan Gilbert, Eldorado Resorts, GLPI, Hard Rock International, International, Kentucky, Law enforcement, Macau, MGM Mirage, Mississippi, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Sociedade de Jogos de Macau, Sports, Taxes, Wall Street
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Delaware leads the way; Las Vegas tourism rebounds
A Delaware sports book took 36 bets in its first 20 minutes of operation yesterday, making it the first state outside Nevada to capitalize on the Supreme Court‘s recent legitimization of sports wagering. “In New York, we would go right to the … Continue reading
Posted in Atlantic City, Culinary Union, Delaware, Florida, Hard Rock International, Harrah's, MGM Mirage, Mississippi, Nevada, New York, Pennsylvania, Reno, Seminole Tribe, Sports, Taxes, The Strip, Tourism, Tribal, Wall Street, West Virginia
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Paddy Power takes on U.S.; Decision time for Freeman
In a story that, frankly, I just didn’t feel like covering last week, Paddy Power Betfair has hitched its wagon to the hitherto-unprofitable DFS star. It has purchased FanDuel, taking a 61% share of the company. The catalyst, obviously, is … Continue reading
Posted in Atlantic City, Bruce Deifik, Charity, DFS, Geoff Freeman, Harrah's, Horseracing, International, Internet gambling, PokerStars, Sheldon Adelson, Steve Wynn, Taxes, The Strip, Vietnam
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Strip land values skyrocket; Second chance for Margaritaville
In a deal not seen since the giddiness of 2007, someone is expected $34 million an acre for Strip land, for a grand total of $540 million. The property in question is a collection of parcels wedged between Planet Hollywood to … Continue reading
Posted in Atlantic City, Foxwoods, history, IGT, Mississippi, Planet Hollywood, Technology, The Strip, Transportation
3 Comments
Wall Street hearts Caesars; AGA does the right thing
One of our favorite investment banks, JP Morgan, has initiated coverage of Caesars Entertainment, providing us with further transparency of the company’s performance. The price target is a lowly $16/share, which presumably reflects the company’s recent, shall we say, financial … Continue reading
Posted in Atlantic City, Boyd Gaming, Culinary Union, Geoff Freeman, Harrah's, Marketing, Penn National, Sexual misconduct, The Strip, Wall Street, Wynn Resorts
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Delaware bests New Jersey; New partner for Ho?
Chris Christie may have to eat his words about New Jersey being the first state to capitalize on the Supreme Court‘s sports-betting ruling. According to NJ Advance Media, “Delaware officials said this week they believe they have the laws and infrastructure … Continue reading
Posted in Atlantic City, Bruce Deifik, Delaware, Entertainment, Hard Rock International, Lawrence Ho, Macau, Massachusetts, Melco Resorts & Entertainment, MGM Mirage, Philippines, Racinos, Regulation, Sports
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Adversity at Sands; Paging Katniss Everdeen
Some are blaming bad weather for two months of substantially reduced table-games winnings at Sands Bethlehem. But could casinos in the Catskills finally be having an effect? It’s hard to say, although one suspects the answer is “yes.” Sands Bethlehem tumbled … Continue reading
Posted in Atlantic City, Bruce Deifik, California, Churchill Downs, CityCenter, Entertainment, Environment, Genting, Hard Rock International, history, International, Internet gambling, Massachusetts, MGM Mirage, Mississippi, Mohegan Sun, New York, Pennsylvania, Revel, Sheldon Adelson, Sports, The Strip, Tilman Fertitta, Transportation, Wynn Resorts
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Song and dance; Musical chairs at Scientific
Apparently the Culinary Union‘s secret-ballot election is so secret that it is off-limits to members of the media. Instead, the Culinary will stage a pair of dog-and-pony shows tomorrow at which interviews and b-roll filming will be possible. I don’t … Continue reading
Posted in Arizona, Atlantic City, Culinary Union, Election, Internet gambling, Scientific Games, The Strip, Transportation
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Atlantic City: Calm before the storm; Stormy weather in Louisiana
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 … Continue reading
Posted in Atlantic City, Boyd Gaming, Bruce Deifik, Columbia Sussex, Dan Gilbert, Detroit, Eldorado Resorts, GLPI, Greenwood Racing, Hard Rock International, Harrah's, Illinois, Internet gambling, Isle of Capri, Louisiana, MGM Mirage, Mohegan Sun, Neil Bluhm, Penn National, Pennsylvania, Pinnacle Entertainment, Sheldon Adelson, Slot routes, Tilman Fertitta, Tropicana Entertainment
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Sports betting: A new era
Yesterday, the Supreme Court handed down its much anticipated ruling in Murphy v. NCAA and it was pure win for states and casinos itching to offer legalized sports betting, although there was some predictable disapproval. As Arizona Attorney General Mark … Continue reading
Posted in Arizona, Atlantic City, Boyd Gaming, Delaware, DFS, Eldorado Resorts, Election, Geoff Freeman, Harrah's, IGT, Illinois, Law enforcement, Maryland, Massachusetts, MGM Mirage, Mississippi, Nevada, New York, Penn National, Politics, Regulation, Rhode Island, Scientific Games, Sports, Texas, Tilman Fertitta, Tribal, Wall Street, West Virginia
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Hard Rock and Ocean Resort: Two much?
“If Ocean Resort opens up and has the same difficulty as Revel did last time, do they get desperate and start throwing marketing money at the wall, and make everyone else have to do it, and margins go down, and … Continue reading
Las Vegas numbers perplex; Macao shatters expectations
While Las Vegas, as mentioned earlier, is slogging through a 10-month visitation slump, you wouldn’t know it from March’s gaming-revenue numbers, which were 9% higher on the Las Vegas Strip ($574 million), although locals casinos took a 5% hit. Deutsche … Continue reading
Posted in Atlantic City, Boulder Strip, Boyd Gaming, California, Colorado, Delaware, Downtown, Economy, Eldorado Resorts, Entertainment, Florida, Galaxy Entertainment, Harrah's, Illinois, Lake Tahoe, Laughlin, Macau, Melco Resorts & Entertainment, Mesquite, MGM Mirage, Mississippi, Nevada, New York, North Las Vegas, Ohio, Penn National, Reno, Rhode Island, Sheldon Adelson, Sociedade de Jogos de Macau, The Strip, Wall Street, West Virginia, Wisconsin, Wynn Resorts
1 Comment
Elaine calls the shots; Now it’s Encore Boston Harbor
Wynn Resorts has been ceding to the wishes of Elaine Wynn of late but it got its back up when she demanded the removal of board member John Jay Hagenbuch. Ms. Wynn views him as a crony of her ex-husband … Continue reading
Posted in Atlantic City, Colorado, Elaine Wynn, Eldorado Resorts, Entertainment, Florida, Foxwoods, Hard Rock International, International, Internet gambling, Isle of Capri, Macau, Massachusetts, MGM Mirage, Mississippi, Mohegan Sun, Moulin Rouge, Politics, Regulation, Revel, Steve Wynn, Tilman Fertitta, TV, Wynn Resorts
3 Comments
MGM sets Springfield date; Adelson hits pay dirt
Even as it’s using MGM Springfield as a catspaw to potentially land Wynn Boston Harbor, that didn’t prevent MGM Resorts International from announcing a date certain for the Springfield opening. Mark August 24 on your calendars, for that is the day … Continue reading
Posted in Architecture, Atlantic City, Churchill Downs, Detroit, Dining, Donald Trump, Entertainment, history, Horseracing, International, Japan, Louisiana, Macau, Maine, Maryland, Massachusetts, MGM Mirage, Penn National, Singapore, South Korea, Sports, Technology, The Strip, Tribal, Wall Street, Wynn Resorts
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Dubious honor for Nevada; GLPI’s big gulp
Nevada is used to getting WalletHub accolades but here’s one it didn’t want and would probably prefer to see swept under the rug … most gambling-addicted state in the U.S. And why not? There are very few states in the … Continue reading
Posted in Atlantic City, Boyd Gaming, Eldorado Resorts, GLPI, Harrah's, Hawaii, Illinois, Louisiana, MGM Mirage, Mississippi, Missouri, Nebraska, Nevada, Penn National, Pinnacle Entertainment, Problem gambling, Regulation, South Dakota, Tropicana Entertainment, Unite-Here
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Mixed report from Japan; Wynn Boston Harbor up for grabs
First, the good news: The casino-regulation bill over which Japan‘s Liberal Democratic Party has slaved, may make it into the Diet by Friday, giving the Nipponese parliament just under two months to consider it. (The Diet adjourns on June 20.) … Continue reading
Elaine Wynn, power player; Hard Rock’s big splash
Who thought the day would come that Elaine Wynn was the largest single shareholder in Wynn Resorts? She’s flexing her newfound muscles by demanding an all-but-clean sweep of the board of directors (we sympathize). Lest this be seen as a … Continue reading
Posted in Arkansas, Atlantic City, Elaine Wynn, Election, Entertainment, Hard Rock International, Massachusetts, Steve Wynn, Wynn Resorts
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Caesars branches out; Atlantic City’s apron strings loosened
Caesars Entertainment CEO Mark Frissora is beginning to put his stamp on the company (unless you count imposing parking fees and that was just copying MGM Resorts International.) Caesars has announced a joint venture with Meras Holding to build and … Continue reading
Posted in Animals, Atlantic City, California, Dubai, Environment, Harrah's, International, Politics, Tribal
2 Comments
Icahn out, Eldorado in; Caesars balks at Hoosier fee
Carl Icahn was in a selling mood last weekend, cashing out of Tropicana Entertainment. The buyer was Eldorado Resorts, which paid Icahn $1.85 billion, then flipped nearly all the physical assets to Gaming & Leisure Properties for $1.2 billion. Not content … Continue reading
Posted in Ameristar, Atlantic City, Carl Icahn, Centaur Gaming, Charity, Dining, Eldorado Resorts, Florida, GLPI, Hard Rock International, Illinois, Indiana, International, Internet gambling, Iowa, Lake Tahoe, Laughlin, Law enforcement, Louisiana, Massachusetts, MGM Mirage, Mississippi, Penn National, Pennsylvania, Regulation, Seminole Tribe, Tropicana Entertainment, Wall Street
1 Comment
Bumpy month for Atlantic City; Stanley Ho has left the building
Winter has not been kind to Atlantic City, with gaming revenues down 3.5% in March ($193 million). At least Internet gaming is a bastion of strength, 17.5% more productive last month, with Golden Nugget dominating that sector with 34% market … Continue reading
Posted in Atlantic City, Churchill Downs, Dan Gilbert, Detroit, Eldorado Resorts, Greenwood Racing, Harrah's, Internet gambling, Law enforcement, Louisiana, Macau, MGM Mirage, Mohegan Sun, Neil Bluhm, Pansy Ho, Penn National, Pennsylvania, Pinnacle Entertainment, Regulation, Sheldon Adelson, Sociedade de Jogos de Macau, Stanley Ho, The Mob, Tilman Fertitta, Tropicana Entertainment
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