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Category Archives: Caesars Entertainment
Tax-and-spend fantasy in Illinois; Encore Boston nickels and dimes its patrons
It’s more important to have a money-losing casino (upon which absolutely nobody has bid) in Chicago than to lower the über-confiscatory 72% tax rate. So says state Sen. Dave Syverson (R), a real crank. As Syverson puts it, “The problem with … Continue reading
Posted in Caesars Entertainment, Galaxy Entertainment, Golden Gaming, Illinois, Japan, Macau, Massachusetts, MGM Resorts International, Resort fees, Sheldon Adelson, Taxes, Terry Caudill, Transportation, Wynn Resorts
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Florida gets tough on black market; Nugget tops Atlantic City
Florida‘s black market slot-parlor industry is coming under renewed scrutiny as it offers not only unlimited soda but an invitingly soft target for armed robbers looking for high concentrations of cash. In a 15-month period, Jacksonville police have logged 500 … Continue reading
Posted in Architecture, Atlantic City, Caesars Entertainment, Dining, Donald Trump, Florida, Internet gambling, Law enforcement, New Jersey, Regulation, Tamares Group, The Strip, Tilman Fertitta, Wynn Resorts
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Next stop, Hempfield!
Cordish Gaming has broken ground on its Hempfield Township satellite casino in Pennsylvania. The $150 million property will have 750 slots and 30 table games, as well as a 445-seat sports book. The casino will fill the space left by … Continue reading
Posted in Arkansas, Atlantic City, Caesars Entertainment, Cordish Co., Dining, Downtown, Economy, Eldorado Resorts, Entertainment, Golden Gaming, history, Internet gambling, Kentucky, Las Vegas Sands, Law enforcement, Massachusetts, MGM Resorts International, Mohegan Sun, Pennsylvania, Regulation, South Korea, Sports betting, The Strip, Tribal, Wall Street, Wynn Resorts
2 Comments
Sports betting burgeons in Pennsylvania
Pennsylvania sports-betting handle was $241 million last month, which translated into $19 million in revenue (a quarter of which promptly went to the state). Mobile wagering accounted for $199 million or 82% of the wagering, up from 65% last July. “Most encouraging … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, DraftKings, Eldorado Resorts, Environment, FanDuel, Greenwood Racing, Illinois, Law enforcement, Michigan, Mississippi, Mohegan Sun, Penn National, Pennsylvania, Regulation, Rush Street Gaming, Sexual misconduct, South Dakota, Sports, Sports betting, Tribal, Twin River, Wall Street, Wynn Resorts
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Going for the gold in California; Vegas tops sin survey
It’s not quite as pre-apocalyptic as dogs and cats living together but California Native American tribes are joining with private-sector racetracks to push for sports betting in the Golden State, surely the ripest market in the U.S. The coalition wants … Continue reading
Ocean outperforms Atlantic City; Encore Boston crushes competition
Atlantic City casino revenues were $202 million last month, flat with the year previous. Slot revenues were up 3.5%, table win down 6%. Despite flat wagering at the tables and slots, Borgata gained 6% at the slots and ceded 7% … Continue reading
Posted in Atlantic City, Boyd Gaming, Caesars Entertainment, Economy, Eldorado Resorts, Environment, FanDuel, Greenwood Racing, Hard Rock International, Internet gambling, Japan, Macau, Massachusetts, MGM Resorts International, Mohegan Sun, Ocean Resort, Penn National, Pennsylvania, Regulation, Rush Street Gaming, Sports betting, Tilman Fertitta, Tribal, Wynn Resorts
3 Comments
Big bounce at IGT; Cosmo revises restaurant lineup
“What’s 23% Between Friends?” So asked Credit Suisse analyst Ben Combes as he reported on International Game Technology‘s 3Q19 earnings call. IGT’s $407 million in cash flow exceeded consensus Wall Street expectations by 3%. IGT stock vaulted 23% on the … Continue reading
Posted in Caesars Entertainment, Cosmopolitan, Delaware, Detroit, Dining, Entertainment, Genting, history, IGT, Indiana, International, Las Vegas Raiders, Lotteries, M Resort, MGM Resorts International, Missouri, New York, Penn National, Sports betting, Taxes, The Strip, TV, Wall Street
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A swing through the Rust Belt
What does Ohio‘s economy have that other Rust Belt states do not? We’d really like to know, since Ohio consistently outperforms its brethren when it comes to gaming revenue. Last month, casino win was up 5.5% to $158.5 million. Racinos … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Dan Gilbert, DraftKings, Eldorado Resorts, Full House Resorts, GLPI, Hard Rock International, Illinois, Indiana, Kentucky, MGM Resorts International, Ohio, Penn National, Pets, Rush Street Gaming, Slot routes, Spectacle Entertainment, Sports betting
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Stanley upstages Terry; Restaurant fees disputed
MGM China will be dropped from the Hong Kong bourse. Casino.org announced the change with this photo of Stanley Ho and Pansy Ho at the MGM Grand Macau opening. Somebody had a wicked sense of humor, cropping former CEO J. Terrence … Continue reading
Posted in Architecture, Caesars Entertainment, Cosmopolitan, Dining, Macau, MGM Resorts International, Oklahoma, Pansy Ho, Resort fees, Stanley Ho, Taxes, The Strip, Tribal, Wall Street, Wynn Resorts
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MGM retrenches; Election wrap-up
MGM Resorts International CFO Corey Sanders and Chief Strategy Officer Aaron Fischer met with J.P. Morgan analyst Joseph Greff, who came “away from these meetings incrementally positive on MGM’s asset monetization plans, ability to meet its 2020 targets, and a healthy … Continue reading
Posted in Australia, Caesars Entertainment, CityCenter, Colorado, Conventions, Dubai, Election, Full House Resorts, Indiana, Japan, Kentucky, Macau, MGM Resorts International, Regulation, Slot routes, Spectacle Entertainment, Sports, Sports betting, Vietnam, Virginia, Wall Street
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MGM Nat’l Harbor takes a hit; Venetian revises restaurant row
Just when MGM National Harbor looked impervious to market forces it hit an October speed bump. Gaming revenues tumbled 18.5% to $60 million. The Free State was down 9% as a whole. MGM got hammered at the tables, plunging 36%, … Continue reading
Posted in Caesars Entertainment, Churchill Downs, Cordish Co., Cosmopolitan, Dining, Genting, Golden Gaming, International, Internet gambling, Las Vegas Sands, Maryland, MGM Resorts International, Mohegan Sun, Penn National, South Korea, Sports, The Strip, West Virginia, William Hill
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Cordish bully on Philly
We’ll soon find out if the Philadelphia market can sustain five casinos when Cordish Gaming‘s Live! Casino & Hotel Philadelphia opens, next door to Citizens Bank Park (baseball) and close to Lincoln Financial Field (football) and Wells Fargo Center (basketball and … Continue reading
The Drew makes bold promises; GLPI gleeful
Steven Witkoff buried the lead when announcing that Bobby Baldwin had been called out of retirement to become CEO of The Drew. Witkoff’s PR peeps said that the project was in “final preparations for construction,” which is the first movement … Continue reading
Posted in Ameristar, Caesars Entertainment, California, CityCenter, Detroit, DFS, Dining, Fontainebleau, G2E, GLPI, history, Las Vegas Sands, Lotteries, Louisiana, Macau, Maryland, Michigan, Politics, Sports betting, Taxes, The Strip, Tribal, Vdara Death Ray, Wall Street
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MGM: Everything must go
MGM Resorts International reported 3Q19 results and they were good enough to make the lion roar. Macao contributed $738 million, a 22% surge reflecting the ramp-up of MGM Cotai surely with $80 million in revenue. Also, CityCenter may be sucking … Continue reading
Posted in Atlantic City, Caesars Entertainment, CityCenter, Detroit, Eldorado Resorts, Golden Gaming, Macau, Maryland, Massachusetts, Melco Resorts & Entertainment, MGM Resorts International, New York, Ohio, Philippines, Sports, Sports betting, The Strip
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Station fixation; MGM Grand for sale (again)
Citing its own study, the Culinary Union is accusing Station Casinos of running unsafe workplaces. Sample: “Nearly one-fifth (18%) of survey respondents who have not received training in biohazards said they clean biohazards.” The study targets Boulder Station, Green Valley … Continue reading
Posted in Caesars Entertainment, CityCenter, Culinary Union, Dubai, GLPI, MGM Resorts International, Penn National, Station Casinos, Steve Wynn, Wall Street
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Case Bets
Jottings: Bart Blatstein wants to subdivide the Showboat lot into five parcels. The idea appears to be to build a casino where the volleyball court currently sits, making an end run around the gaming restriction placed on the property by … Continue reading
Massachusetts: No more casinos; Gilbert sells again
Citing an obvious saturation (already) in the Massachusetts market and the possibility of a tribal casino in Taunton or on Martha’s Vineyard, the Massachusetts Gaming Commission punted the award of the state’s final casino license into the indefinite future. In … Continue reading
Posted in Atlantic City, Caesars Entertainment, Dan Gilbert, Donald Trump, Genting, Indiana, International, Internet gambling, Las Vegas Sands, Maryland, Massachusetts, Neil Bluhm, Ohio, Penn National, Politics, Problem gambling, Racinos, Regulation, Singapore, Tribal
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Air guitar; Forgiveness urged for Steve Wynn
The much-anticipated opening of Hard Rock International‘s guitar-shaped hotel-casino in Hollywood, Florida, drew celebrities from Hollywood, California (Johnny Depp), as well as ones who would attend the opening of an eyelid (Kim Kardashian). Hard Rock hopes to recreate the iconic … Continue reading
Posted in Architecture, Australia, Baseball, Boyd Gaming, Caesars Entertainment, Churchill Downs, Cosmopolitan, Florida, Genting, Hard Rock International, Hooters, Illinois, International, Japan, Massachusetts, MGM Resorts International, Mississippi, Nevada, New York, Politics, Regulation, Rush Street Gaming, Scott Butera, Sexual misconduct, Sports, Sports betting, Steve Wynn, Taxes, The Strip, Tribal, Wynn Resorts
1 Comment
Louisiana gets soaked; Surrender flag waved
Boyd Gaming warned us that Deep South results would be weak, following two hurricanes, and they didn’t exaggerate. Flood-affected Louisiana casino receipts plummeted 11% in September. Boyd casinos got the worst of it, down 10.5%. New Orleans was flat but … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, China, Churchill Downs, Crown Resorts, Economy, Eldorado Resorts, GLPI, Illinois, Isle of Capri, Japan, Las Vegas Sands, Louisiana, Macau, MGM Resorts International, Money laundering, Penn National, Regulation, Resort fees, Sheldon Adelson, Singapore, The Mob, The Strip, Tilman Fertitta, Wall Street
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