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Category Archives: Australia
Missouri wilts; Encore closes (sorta); Station upgraded
Pent-up demand and stimulus checks appear to be sputtering across the Midwest. Missouri casinos were down 7.5% last month, grossing $129.5 million. Slots ($112 million) were off 6% and table games tumbled 17%. Top grosser in the state was Ameristar … Continue reading
Posted in Australia, Boyd Gaming, Caesars Entertainment, Century Casinos, Downtown, Economy, Hard Rock International, International, James Packer, Marketing, MGM Resorts International, Missouri, Mohegan Sun, Palms, Penn National, Regulation, Sports, Sports betting, Station Casinos, The Strip, Transportation, Twin River, Wynn Resorts
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Kings for a day; Covid’s casino kingpin
As you know, DraftKings is the current darling of Wall Street, its stock hovering around $50/share. Today Credit Suisse analyst Ben Chaiken initiated coverage with an “outperform” rating, putting a $76/share price target on the stock. He even went to … Continue reading
Posted in Atlantic City, Australia, Brazil, Caesars Entertainment, California, China, Crown Resorts, DraftKings, Economy, FanDuel, Golden Nugget, Health, IGT, Illinois, Internet gambling, Japan, Lake Tahoe, Las Vegas Raiders, Las Vegas Sands, Law enforcement, Lotteries, Louisiana, Macau, Maverick Gaming, MGM Resorts International, Nebraska, Rush Street Gaming, Sports, Sports betting, Technology, The Strip, Tilman Fertitta, TV, Twin River, Wall Street, Wynn Resorts
1 Comment
Sports betting lifts Illinois; Packer in a pickle
It was sagacious of Illinois Gov. J.B. Pritzker (whose family used to co-own the Grand Victoria casino in Elgin) to temporarily suspend his state’s rule requiring in person registration for sports betting. Last month, the Land of Lincoln saw $140 … Continue reading
New York game-changer; MGM sticks it to servers
What Jim Murren and Sheldon Adelson couldn’t do, New York state Sen. James Skoufis (D) just might. With four upstate casinos still closed and the state budget pummeled by the economic effects of Coronavirus, Skoufis is proposing that the state … Continue reading
Posted in Australia, Caesars Entertainment, Cretins, Economy, Election, Environment, Health, International, Jim Murren, Louisiana, Macau, MGM Resorts International, Mississippi, New York, Ohio, Politics, Problem gambling, Regulation, Sheldon Adelson, Unite-Here, Virginia
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Dodd’s dud
An attempt to please all major players in the California gambling industry is dead in the Golden State Lege. Sponsor state Sen. Bill Dodd (D) tried to appease card rooms by offering them table games and positioning mobile sports betting. … Continue reading
Station reopens bullishly; Who was that masked man, anyway?
On the eve of today’s reopening, Station Casinos hosted a conference call with JP Morgan analysts and was pretty darn confident that its base of Baby Boomers and retirees would flock back. So confident is that Station “has not been … Continue reading
Posted in Australia, Caesars Entertainment, Cirque du Soleil, Crown Resorts, Derek Stevens, Downtown, Entertainment, Health, Las Vegas Sands, Marketing, MGM Resorts International, Palms, Planet Hollywood, Real Estate, Resort fees, Station Casinos, Steven Witkoff, Tamares Group, Terry Caudill, The Rio, The Strip, Tourism, Wall Street
3 Comments
Vegas bingo on death watch; Nevada regulators dither
Bingo is such a staple of the Las Vegas locals casino that it seems unimaginable that it would go the way of the buffet and the dodo. But such may be the case. VitalVegas author Scott Roeben says he is … Continue reading
Fauci on sports; Churchill Downs “on track”
Bad news, sports bettors. Given the absence of widespread testing for Coronavirus, Dr. Anthony Fauci is backpedaling on his projections that professional sports could resume this year. (As Fauci has said elsewhere, a model is just a model; when you … Continue reading
Posted in Australia, Baseball, Churchill Downs, Crown Resorts, Economy, GameCO, Health, International, Internet gambling, Kentucky, Lawrence Ho, Lotteries, Marijuana, Massachusetts, Melco Resorts & Entertainment, Missouri, Nevada, Pennsylvania, Regulation, Scientific Games, Sports, Technology, Wall Street, Wynn Resorts
2 Comments
Las Vegas breakthrough; Shoot the messenger
Las Vegas-based Avidium Labs says it has developed a Covid-19 test that has been validated at laboratories in California and New York. Said CEO Evan Louie, “Our team is diligently working on getting our tests to a wide range of … Continue reading
More woes for Penn; “A slog” for Encore Boston
Covid-19 has claimed another casino casualty in the form of Resorts Casino Tunica. Ironically, the Penn National Gaming closure comes after an abortive March which promised to exceed the 2019 in Mississippi. Overall gaming revenues were at $110 million when … Continue reading
Posted in Australia, California, Crown Resorts, Economy, GLPI, history, International, Massachusetts, Mississippi, Penn National, Sports betting, Taxes, Tourism, Wall Street, Wynn Resorts
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Sisolak vs. Goodman, Round Two; Wynn’s recovery plan
Nevada Gov. Steve Sisolak (D), while acknowledging that his state’s unemployment-aid infrastructure is swamped (although initial jobless claims declined to 58,641 last week), is taking a steady-as-she-goes approach to reopening the Silver State, relying heavily on medical advice. “This is not … Continue reading
Wynn sitting pretty; Trump Plaza damned, doomed
Wynn Resorts can sit out a Coronavirus crisis lasting 1.4 years. That’s how much cash ($3 billion) it’s sitting upon. First-quarter revenues took a 43% hit and are expected to come in somewhere in the $912 million-$969 million range. The … Continue reading
Under the Boardwalk; Premature panic in Virginia
New Jersey Gov. Phil Murphy (D) is taking the long view on casino closures—as in, what happens if they last two months? He’s measuring the negative economic impact at $1.1 billion. According to The Press of Atlantic City, “That figure encompasses … Continue reading
Turnaround in Springfield; Coping with Covid-19
Although it seems supremely beside the point at this grave moment, it’s time to report February’s gaming-revenue numbers from Massachusetts. Casinos in the state grossed some $86 million, with $52.5 million of that made at Encore Boston Harbor, with 61% … Continue reading
Posted in Australia, California, Canada, Crown Resorts, Eldorado Resorts, Entertainment, Health, Horseracing, International, Macau, Maryland, Massachusetts, MGM Resorts International, Ohio, Penn National, Philippines, Regulation, Reno, Tourism, Tribal, Wynn Resorts
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Big January for the Strip; Mega-jottings
January was very good for the Las Vegas Strip, up 7.5% to $572 million. Baccarat played a big role, with winnings up 16% on 24% greater wagering. (In fairness, January 2019 was terrible for baccarat.) Other table games didn’t do … Continue reading
Posted in Australia, Boulder Strip, Caesars Entertainment, China, Conventions, Downtown, Downtown Grand, Eldorado Resorts, Health, Illinois, International, Internet gambling, Lake Tahoe, Laughlin, Marketing, MGM Resorts International, Mississippi, North Las Vegas, Philippines, PokerStars, Regulation, Reno, Technology, The Strip, Tourism, Transportation, Wendover
2 Comments
Wind of change; Packer “like a car crash”
There’s change in the breeze at Wind Creek Bethlehem. Former general manager Brian Carr “is leaving the organization,” replaced by Kathy McCracken, a longtime veteran of the property, which has underperformed since the Poarch Bank of Creek Indians took ownership. Not coincidentally, … Continue reading
“The fix is in”; MGM’s youth movement
Hard Rock International CEO Jim Allen is trying to have it both ways in Greece, saying that Mohegan Gaming & Entertainment hasn’t been awarded the Hellenikon casino concession but that “the fix is in.” Well, is it or isn’t it? … Continue reading
Posted in Atlantic City, Australia, Boyd Gaming, Canada, Crown Resorts, Diversity, DraftKings, Economy, Hard Rock International, Health, International, Japan, Las Vegas Sands, Lawrence Ho, Lucky Dragon, Macau, MGM Resorts International, Mohegan Sun, Money laundering, Movies, Ocean Resort, Pennsylvania, PokerStars, Singapore, Sports betting, The Strip, Twin River, Wall Street, Wynn Resorts
1 Comment
XFL bets taken; Mohegan Sun, Hard Rock clash; Straub arrested
New Jersey has allowed betting on the XFL, the sixth state to do so. But does anybody care? The league hopes that sports betting will spark fan interest in the games. MGM Resorts International already got burned by the Alliance … Continue reading
Posted in Australia, Glenn Straub, Hard Rock International, International, James Packer, Law enforcement, Lawrence Ho, Lotteries, Melco Crown Entertainment, MGM Resorts International, Mohegan Sun, Money laundering, New Jersey, Pennsylvania, Sports, Sports betting
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Power play in Springfield; Packer faces impeachment
We had a gut feeling this was coming. MGM Resorts International CEO Jim Murren has given the sack to MGM Springfield President Michael Mathis, replacing him with MGM Northfield Park prexy Chris Kelly. Northfield Park hasn’t missed a step since … Continue reading
Posted in Australia, China, Connecticut, Crown Resorts, International, James Packer, Japan, Law enforcement, Lawrence Ho, Macau, Massachusetts, Melco Resorts & Entertainment, MGM Resorts International, Money laundering, New Jersey, Ohio, Stanley Ho, The Crown 18, The Mob
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Eldorado gets one state closer; Banditry in Arizona
Check Louisiana off the list of states giving the thumbs-up to the Eldorado Resorts takeover of Caesars Entertainment. CEO Tom Reeg had to assure regulators that the company would invest $500 million (there goes that highly touted half-billion cost savings) in … Continue reading