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Category Archives: Dan Gilbert
Does Gilbert know Jack?; Caesars’ big finish
Will a Horseshoe by any other name earn as much? We’re going to find out because Rock Gaming owner Dan Gilbert is going to rebrand his casinos under the Jack Entertainment banner, presumably a tip of the hat to … Continue reading
Posted in Atlantic City, Colorado, Dan Gilbert, Florida, Harrah's, Isle of Capri, Louisiana, Marketing, Maryland, Mississippi, Ohio, Penn National, Regulation, Technology, The Strip, Wall Street
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Atlantic City under siege; Detroit casinos deliver
New Jersey state Senate President Stephen Sweeney (D) hasn’t been elected governor yet but he’s behaving as though he were the Garden State’s chief executive. He’s the driving force behind a suddenly urgent move to exert state control over Atlantic City. … Continue reading
Posted in Atlantic City, Dan Gilbert, Detroit, Economy, Entertainment, Georgia, Hard Rock Hotel, MGM Mirage, Politics, Revel, Taxes
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Penn owns Ohio; Adelson expands R-J
Gaining 19% last month, Hard Rock Rocksino reclaimed its top spot in Ohio, grossing almost $19 million and edging aside Horseshoe Casino Cleveland by one decimal point. The latter saw an 11% slippage revenues, while ThistleDown Racino continues to look like … Continue reading
Posted in Cosmopolitan, Dan Gilbert, Eldorado Resorts, Hard Rock International, Harrah's, MGM Mirage, Ohio, Penn National, Pinnacle Entertainment, Racinos, Regulation, Sheldon Adelson, Steve Wynn
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Hope for Atlantic Club; Boffo month for Maryland
Not so fast, says Endeavor AC about yesterday’s report that its purchase of the Atlantic Club was defunct. The would-be purchaser says it has “a very strong and creditable private equity source to finance the acquisition and development of the … Continue reading
Posted in Atlantic City, Cordish Co., Dan Gilbert, Glenn Straub, Golden Gaming, Harrah's, Japan, Law enforcement, Maryland, Penn National, Pennsylvania, Planet Hollywood, Politics, Problem gambling, Racinos, Revel, Sheldon Adelson, SLS Las Vegas, The Strip, Tourism
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Good news in Indian Country
It’s a happy day for the Picayune Rancheria of Chukchansi Indians, which got the go-ahead from the National Indian Gaming Commission to reopen its long-troubled Chukchansi Gold Resort & Casino. The NIGC was feeling so generous, in fact, that it suspended a … Continue reading
Posted in California, Dan Gilbert, Harrah's, Massachusetts, Ohio, Pennsylvania, Regulation, Sheldon Adelson, Technology, Tribal
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Boston: Has Wynn finally won?; Massachusetts mulls i-poker
Boston Mayor Martin Walsh seems to have finally put his grandstanding aside and is making conciliatory noises about Wynn Resorts. Has the smackdown of his lawsuit against the Massachusetts Gaming Commission finally brought Walsh to his senses? Or is this … Continue reading
Posted in Dan Gilbert, Detroit, Donald Trump, Internet gambling, Massachusetts, MGM Mirage, Pennsylvania, Politics, Regulation, Steve Wynn, Transportation, Westgate LV
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Ohio: Caesars effects a turnaround; Heightened scrutiny for MGM Springfield
Although it’s got one foot out the door in Ohio, the management half of Rock Gaming Caesars, i.e., Caesars Entertainment, is starting to shore up the recent decline of its casinos in the Buckeye State. Horseshoe Cincinnati and Horseshoe Cleveland … Continue reading
Posted in Architecture, Dan Gilbert, Economy, Eldorado Resorts, Hard Rock International, Harrah's, Massachusetts, MGM Mirage, Mohegan Sun, Penn National, Pinnacle Entertainment, Racinos, Regulation, Rhode Island
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The ubiquitous Packer; The 27% solution
James Packer has already missed his 2015 deadline for breaking ground on Alon and once again he is taking his eye off the Las Vegas ball. He and his Nobu co-investor, Robert DeNiro, have cut a deal with Antigua and … Continue reading
Posted in Colorado, Dan Gilbert, Economy, Full House Resorts, International, James Packer, Kentucky, MGM Mirage, Politics, Racinos, Riviera, The Strip
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No Great Pumpkin for Las Vegas; Further woe for Macao
It was Las Vegas Strip casinos’ bad luck to have Oct. 31 fall on a Saturday, meaning that revenues (particularly from slots) from that weekend won’t be reported until the end of November. Consequently, Strip revenues fell 5% in October, … Continue reading
Atlantic City casinos make less, profit more
In a paradoxical development, Atlantic City casinos reported a 61% increase in profitability in Q315. That largesse came even as gross gaming revenues only rose 5%. Cost-containment is credited with being the source of the bounty. Caesars Interactive swung from … Continue reading
Posted in Atlantic City, Boyd Gaming, Carl Icahn, Dan Gilbert, Economy, Election, Glenn Straub, Harrah's, Indiana, International, Internet gambling, Massachusetts, MGM Mirage, Mohegan Sun, Ohio, Politics, Revel, Sheldon Adelson, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts
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Big month for Maryland; Much ado about Dotty’s
Developers of MGM National Harbor have to like what they saw when Maryland busted out its October revenue numbers: 9% growth (to $95 million), with all five casinos in the plus column. Horseshoe Baltimore General Manager Chad Barnhill is defecting … Continue reading
Caesars exiting Ohio with head held high; New Showboat setback
Caesars Entertainment may have gotten the boot from its three managerial arrangements with Dan Gilbert in Ohio but it’s spending the waning weeks of its tenure putting up impressive numbers. Horseshoe Cleveland ($18 million) was up 4% and Horseshoe Cincinnati … Continue reading
Posted in Atlantic City, Dan Gilbert, Detroit, Eldorado Resorts, Glenn Straub, Harrah's, Marketing, Penn National, Pinnacle Entertainment, Politics, Racinos, Taxes
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Packer on the move in Vegas; Impending strike in Detroit?
Formally speaking, Alon hasn’t broken ground but that hasn’t stopped James Packer‘s bulldozers and backhoes from moving earth around at the site of the planned megaresort, as well as leveling some of the landscaping Steve Wynn paid for to conceal … Continue reading
Posted in Architecture, Carl Icahn, Dan Gilbert, Detroit, Fontainebleau, Genting, James Packer, MGM Mirage, SLS Las Vegas, Steve Wynn, The Strip
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Caesars loses Ohio; Parking fees on the Strip?
In a lose-lose scenario, Caesars Entertainment is losing its management contracts at Horseshoe Cincinnati, Horseshoe Cleveland and Thistledown Racino. Even with the valuable Horseshoe brand, all three had been losing business in recent months. Caesars had long ago sold its … Continue reading
Buckeye bounce; Macao’s woes a secret benefit?
Casino and racino revenues in Ohio were up nicely last month, +6.5%. We’re still at least a month away from having a full set of year/year comparisons but Gov. John Kasich‘s decision to supersize a four-casinos-only constitutional amendment into four casinos … Continue reading
Posted in Dan Gilbert, Economy, Eldorado Resorts, GLPI, Hard Rock International, Harrah's, Macau, Ohio, Penn National, Pinnacle Entertainment, Racinos, Steve Wynn
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Quote of the Day
“August was a strong month for Horseshoe Cleveland. We had some exciting summer promotions and there was a lot happening downtown that brought guests in throughout the month.” — Horseshoe spokesperson Shannon Mortland, trying to rationalize the casino’s declining revenues.
Posted in Dan Gilbert, Harrah's, Ohio
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Ohio: Dan Gilbert’s downfall; Icahn meets Randy the Rat
Ohio‘s slot hoppers have been emptied for August and it was a month marked by some dramatic swings of fate. Belterra Park‘s $6 million haul won’t blow anybody away but, at $145/slot/day, it’s doing an acceptable average and improved 41% … Continue reading
Posted in Atlantic City, Carl Icahn, Dan Gilbert, Eldorado Resorts, Environment, GLPI, Hard Rock International, Harrah's, International, Ohio, Penn National, Pinnacle Entertainment, Trump Entertainment Resorts, Unite-Here
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Midwest shakes off malaise
Yes, there was an extra weekend day this year but let’s look at the glass half-full, as regional gaming markets shook off their malaise. Illinois was up 2% despite mild weakness in the St. Louis market. Empress Joliet (+10%) was … Continue reading
Posted in Ameristar, Boyd Gaming, Dan Gilbert, Economy, Hard Rock International, Harrah's, Horseracing, Illinois, Indiana, Isle of Capri, Majestic Star, MGM Mirage, Missouri, Neil Bluhm, Ohio, Penn National, Pinnacle Entertainment, Racinos, Wall Street
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White knight for Caesars?; Missing the Blarney Stone
Caesars Entertainment may have to cede more equity in Caesars Entertainment Operating Co. in order to get junior creditors behind a Chapter 11 restructuring. A Paulson & Co. initiative reportedly aims to do exactly that. In tandem with Canyon Partners and … Continue reading
Posted in Dan Gilbert, Derek Stevens, Detroit, Downtown, Economy, Harrah's, Internet gambling, MGM Mirage, Sports, Wall Street
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Around the Midwest
Iowa was as flat as much of its landscape last month. Amidst the prevailing revenue stasis (sign of a perfectly sized market) there were a few significant movers. Isle of Capri Casinos‘ three properties were up a collective 2%, while … Continue reading
Posted in Ameristar, Boyd Gaming, Dan Gilbert, Full House Resorts, GLPI, Hard Rock International, Harrah's, Illinois, Indiana, Iowa, Isle of Capri, Neil Bluhm, Penn National, Pinnacle Entertainment, Warner Gaming
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