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- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
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Category Archives: Cordish Co.
Dover downer; Connecticut rewrites the rules
Expect another request for tax cuts from Dover Downs after the Delaware racino posted a 96% decrease in second-quarter profits. (Slots are taxed at a usurious 43%.) While Dover Downs made $32,000, it suffered a 7% decline in casino revenues. … Continue reading
Posted in Atlantic City, Cordish Co., Delaware, Foxwoods, GameCO, Greenwood Racing, Harrah's, International, Marketing, MGM Mirage, Mohegan Sun, Pennsylvania, Politics, Racinos, Regulation, Taxes, Technology, Tribal
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Land of the Sinking Hopes?; MGM hearts McCain
If Japanese casinos must be majority-owned by local companies, that suits Sega Sammy Holdings just fine. The company is challenging the likes of Galaxy Entertainment, Las Vegas Sands and MGM Resorts International for one of the initial casino licenses. Of … Continue reading
Posted in Cordish Co., Foxwoods, G2E, Galaxy Entertainment, Geoff Freeman, Hard Rock International, Harrah's, Horseracing, International, Japan, MGM Mirage, Mohegan Sun, Politics, Problem gambling, Sheldon Adelson, Singapore, Tribal
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Exit SLS, enter Sahara; Seminoles reach Florida accord
Collectors, start gathering those SLS-branded souvenirs while you can. The auguries continue to accumulate that the beloved Sahara identity will be returning to the venerable hotel-casino. The latest sign is the changeover of the loyalty program to Club 52 (from … Continue reading
Posted in Animals, Cordish Co., Florida, history, Marketing, Maryland, MGM Mirage, Pets, Politics, Sahara, Sam Nazarian, Seminole Tribe, SLS Las Vegas, Taxes, The Strip, Tribal
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National Harbor cleans up; A peek inside Resorts World Las Vegas
MGM National Harbor drove a 40% increase in Maryland gambling revenues last month. The $50.5 million gross at MGM was evenly divided between table games and slots. Since the latter are taxed at a far higher rate, MGM won’t be … Continue reading
Okada in the cross-hairs; Oregon poker rooms (sorta) saved
Could it be? Dare we hope? Gamey gaming mogul Kazuo Okada is in danger of losing his Nevada license. (Steve Wynn is quietly celebrating somewhere.) Already he’s been suspended by his own company, Universal Entertainment Corp., and his dreams of … Continue reading
Posted in Cordish Co., Greenwood Racing, Iowa, Isle of Capri, Japan, Kazuo Okada, Missouri, Oregon, Pennsylvania, Politics, Regulation, Sports, Steve Wynn, Texas, Westgate LV
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Illinois becalmed; Freeman breaks with Trump
Lawmakers in Illinois obviously don’t care about the future of the state’s 10 extant casinos, considering the next gaming expansion (following slot routes) that they are preparing to ram through. If they bothered to look at the market, they’d see … Continue reading
Posted in Boyd Gaming, Cordish Co., Geoff Freeman, GLPI, Golden Gaming, Harrah's, Illinois, Marketing, Maryland, MGM Mirage, Neil Bluhm, Penn National, Philippines, Regulation, Slot routes, Tourism, Wall Street
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Big month in Maryland; Kentucky Derby sets record
MGM National Harbor took the top spot in Maryland last month, grossing $50 million to Maryland Live‘s $45 million. “We view this as positive/encouraging for MGM, as it shows the property’s momentum has sustained into April,” wrote JP Morgan analyst … Continue reading
Posted in Boyd Gaming, Churchill Downs, Cordish Co., Galaxy Entertainment, GLPI, Golden Gaming, Harrah's, Horseracing, Illinois, Japan, Maryland, MGM Mirage, Neil Bluhm, Penn National, Technology, The Strip, Wall Street, West Virginia
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Hard Rock to spend big in Atlantic City; Bad news for slot makers
In the biggest vote of confidence Atlantic City has received in a decade, Hard Rock International has announced that it intends to invest $375 million in the former Trump Taj Mahal. On top of the 1,000 projected construction jobs, Hard … Continue reading
What’s in a name?
Quite a lot, if you happen to be the late Sen. Pat McCarran (D). Not only is Nevada‘s largest airport named after you (not inaptly — the anti-New Deal, pro-fascist McCarran’s signature achievements included splitting off the Air Force as a … Continue reading
Posted in Cordish Co., Donald Trump, Harry Reid, history, International, Movies, Politics, Sports, Steve Wynn, Transportation
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MGM National Harbor, Maryland Live duke it out
MGM National Harbor strapped a jet pack on Maryland gaming revenue, up an eye-popping 38% last month. The bad news for other operators is that, once you subtract MGM, gaming revenues are down 11%. However, the fact that the declivity … Continue reading
Sports betting a political football; Lucky Dragon doing just fine
Lawmakers in Maryland are entering the fray over sports betting. Unlike their counterparts in New Jersey, they’re not challenging the federal government directly. The proposed law, as drafted, would make sports betting legal in the Free State *if* the Bradley … Continue reading
Posted in Ameristar, Boyd Gaming, Cordish Co., Delaware, Dining, Donald Trump, Georgia, GLPI, Harrah's, Hawaii, Internet gambling, Isle of Capri, Lucky Dragon, Macau, Maryland, MGM Mirage, Mississippi, Missouri, Neil Bluhm, New York, Penn National, Philippines, Pinnacle Entertainment, Politics, Racinos, Singapore, Sports, Steve Wynn, The Strip, Tourism, Tropicana Entertainment, Wall Street
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MGM National Harbor a hit with players; Fertitta talks a good game
Given its high profile, MGM National Harbor had to hit a home run for MGM Resorts International and, judging by the numbers, it’s done just that. Last month it grossed $49 million, which — when the numbers are adjusted to … Continue reading
Posted in Boyd Gaming, Cordish Co., Downtown, GLPI, Golden Gaming, Goldman Sachs, Harrah's, Illinois, Louisiana, Maryland, MGM Mirage, Mississippi, Neil Bluhm, Nevada, New York, Penn National, Politics, Racinos, Regulation, Sheldon Adelson, Slot routes, Sports, Station Casinos, The Strip, Tilman Fertitta, Wall Street, West Virginia
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Adelson out of stadium deal; Tepid December on Strip
It didn’t take long for Sandoval’s Folly, the mooted [your city here] Raiders stadium to blow up in the governor’s face. With characteristic irascibility, Las Vegas Sands CEO Sheldon Adelson withdrew from the project, taking his $650 million with him. … Continue reading
Posted in Boulder Strip, Cordish Co., Cretins, Downtown, Economy, Foxwoods, GLPI, Harrah's, Horseracing, Japan, Laughlin, Maryland, MGM Mirage, Mohegan Sun, Nevada, North Las Vegas, Penn National, Politics, Regulation, Reno, Sheldon Adelson, Sports, The Strip, Tribal, Virginia, Wall Street, West Virginia
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Maryland: Playing the blame game; Island casinos confront Trump
As might be expected, MGM National Harbor‘s opening strapped a jet pack on Maryland casino revenues for December, which came in at $133.5 million, easily surpassing last May’s then-record $104 million. Wagering — as opposed to win — per slot … Continue reading
Posted in Cordish Co., Donald Trump, Economy, Harrah's, Horseracing, Illinois, International, Internet gambling, Macau, Maine, Maryland, MGM Mirage, Penn National, Racinos, Regulation, Slot routes, Taxes, Tribal
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National Harbor boffo for MGM; Icahn keeps them guessing
In its first month, MGM National Harbor has been both good and bad for Maryland. Although the MGM Resorts International property, acclaimed by some as being Las Vegas Strip-caliber, did blockbuster numbers, the rest of the Maryland casino industry was … Continue reading
Racinos lap casinos in Ohio; “Golden Knights” kiboshed
Ohio‘s four main casinos performed weakly last month, with Dan Gilbert‘s Jack Cleveland ($16 million, -4%) and Jack Cincinnati ($15 million, -7%) still not validating their new brand. Ironically, the once-superfluous Thistledown Racino is saving Jack’s bacon, up 13% to … Continue reading
Posted in Arizona, Atlantic City, Boyd Gaming, Cordish Co., Dan Gilbert, Economy, Eldorado Resorts, Florida, GLPI, Hard Rock International, Harrah's, Japan, Maryland, MGM Mirage, Nevada, New York, Ohio, Penn National, Politics, Racinos, Seminole Tribe, Sports, Taxes
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Pennsylvania gets a second look; Tioga Downs debuts new casino
Funny that we should have been discussing Pennsylvania yesterday. Fitch Ratings analyst Alex Bumazhny made a field trip to Philadelphia and Bethlehem, and came away impressed by the $164 million expansion of SugarHouse. He concluded that its new features, which … Continue reading
(Pot) Smoke gets in their eyes; Enter the Lucky Dragon
Just say “No.” That’s what Nevada gaming regulators are advising casinos who might be tempted to take advantage of the new legality of recreational marijuana in the Silver State. Bowing to federal law, the Nevada Gaming Control Board and Nevada … Continue reading
Posted in Colorado, Cordish Co., Downtown, Environment, Geoff Freeman, Internet gambling, Lucky Dragon, Maryland, MGM Mirage, Nevada, Regulation, Sports, The Strip, Tourism
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Trump Taj Mahal: End of an era; Wynn joins Atlanta pursuit
“It’s like saying goodbye to an old friend for the final time. I worked here and lived here, it was my whole life and now it’s closing. It’s all been taken away. My whole body is shaking.” So said longtime Trump … Continue reading
Pittsburgh pleads with Rivers Casino; Strong numbers from Maryland, Illinois
Pittsburgh is essentially saying “Pretty please” to Rush Street Gaming‘s Rivers Casino, begging the latter to keep voluntarily paying $10 million a year to the city, even though Rush Street is no longer under any legal obligation to do so. Pittsburgh Finance … Continue reading
Posted in Boyd Gaming, Cordish Co., Cosmopolitan, GLPI, Golden Gaming, Harrah's, Illinois, Iowa, Maryland, MGM Mirage, Neil Bluhm, Penn National, Pennsylvania, Racinos, Taxes, Technology, The Strip
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