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Category Archives: Downtown
Wall Street meets Las Vegas, Part II
Station Casinos dispatched Executive Vice President Rodney Atamian to meet with JP Morgan analysts last week. According to Joseph Greff, he reported, “solid/improving visitation and spend per visit trends.” A possible increase in Nevada casino-capacity limits to 50% should propel … Continue reading
Posted in Boulder Strip, Boyd Gaming, Caesars Entertainment, Downtown, Economy, FanDuel, Golden Gaming, Hawaii, Health, Internet gambling, Las Vegas Sands, Louisiana, Macau, Marketing, Maryland, Massachusetts, MGM Resorts International, Nevada, New Jersey, Palms, Penn National, Pennsylvania, Slot routes, Sports betting, Station Casinos, The Strip, Tourism, Wall Street, William Hill, Wynn Resorts
3 Comments
Vegas locals strong, Strip stinks; Economic boom foreseen
Even with $600 extra in their pockets, gamblers could not be lured back to the Las Vegas Strip last month. Strip revenues of $321.5 million represented a 44% implosion from 2020. Statewide, the falloff was 26.5% to $762 million. Once … Continue reading
Posted in AGA, Atlantic City, Boulder Strip, Caesars Entertainment, Carl Icahn, Churchill Downs, Cordish Co., Derek Stevens, Dining, Downtown, Economy, Election, Health, history, Horseracing, Illinois, International, Kentucky, Lake Tahoe, Laughlin, Maryland, Mesquite, MGM Resorts International, Nevada, North Las Vegas, Pennsylvania, Reno, Security, Sports, Sports betting, Tennessee, The Strip, Tourism, Transportation, Wall Street, Wendover
3 Comments
Boyd better than expected; Marching through Georgia
Boyd Gaming leaked January data, what Wall Street calls “offered an encouraging commentary,” to help put an upbeat spin on its 4Q20 numbers. It worked like a charm. JP Morgan analyst Joseph Greff moved his price target up $8 to … Continue reading
Posted in Alabama, Boulder Strip, Boyd Gaming, Cretins, Downtown, Economy, Entertainment, FanDuel, Florida, Foxwoods, Georgia, Hawaii, Health, Illinois, Lotteries, MGM Resorts International, Nevada, Pennsylvania, Politics, Resort fees, South Carolina, Sports, Sports betting, The Strip, Tony Hsieh, Tourism, Virgin Hotels, Wall Street
3 Comments
Hawaiians avoid Las Vegas
Pent-up demand, huh? Not in Hawaii, according to KHON-TV in Honolulu. It reveals that Hawaiian Vacations had been planning to resume charter flights to Sin City (Boyd Gaming‘s bread and butter) in December but called it off due to a … Continue reading
Posted in Boyd Gaming, Downtown, Hawaii, Health, Las Vegas Sands, Tourism, Transportation
1 Comment
Las Vegas recovery: A definite maybe; Woe at Sands
First, the bad news. Las Vegas emerged from a December that was just plain awful, as discretionary income continues to dry up. Las Vegas Strip win plummeted 51% to $292 million. Statewide, gambling revenue toppled 35.5% for $684 million, an … Continue reading
Posted in AGA, Alex Yemenidjian, Arizona, Boulder Strip, Caesars Entertainment, California, China, Conventions, Derek Stevens, Downtown, Economy, Health, Internet gambling, Japan, Lake Tahoe, Las Vegas Sands, Laughlin, LVCVA, Macau, Melco Resorts & Entertainment, Mesquite, Mohegan Sun, New York, North Las Vegas, Reno, Sheldon Adelson, Singapore, South Korea, Sports betting, Texas, The Strip, Tilman Fertitta, Tourism, Wall Street, Wendover, Wynn Resorts
3 Comments
Half-a-loaf Cuomo; Ohio implosion
Cuomo giveth, Cuomo taketh away. After dropping hints of expansive sports betting in New York State, Gov. Andrew Cuomo (D) unveiled a proposal that was considerably less than ‘george.’ There will be one ‘skin’ and it will be answerable to … Continue reading
Circa debut boosts Downtown; Lots of moving, shaking predicted for ’21
Although casinos across the nation have been swooning in November, results in Nevada—which we feared would take it worse than average—were in line with national trends, a victory of sorts. Statewide, gaming win fell 18% and the Las Vegas Strip, … Continue reading
Posted in Boulder Strip, Boyd Gaming, Caesars Entertainment, Cirque du Soleil, Derek Stevens, Dotty's, Downtown, Economy, Failsinos, Fontainebleau, GLPI, Internet gambling, Lake Tahoe, Las Vegas Sands, Laughlin, Mesquite, MGM Resorts International, Nevada, North Las Vegas, Palms, Planet Hollywood, Regulation, Reno, Resorts World LV, Seminole Tribe, Sheldon Adelson, Sports, Sports betting, Station Casinos, The Rio, The Strip, Virgin Hotels, Wendover, William Hill
2 Comments
It’s lonely in Massachusetts; A dose of realism
Massachusetts gamblers are night owls. When Gov. Charlie Baker (R) ordered casinos to close at 9:30 p.m. it took a big bite out of November revenues, particularly Encore Boston Harbor, which makes half its revenue after dark. At least you … Continue reading
In case you missed it …
Pennsylvania closed all its casinos Sunday, starting with Rivers Casino Pittsburgh at 12 a.m. The shutdown is to last until Jan 4. The Keystone State joins Michigan (until Dec. 20, probably longer) and Illinois (indefinite). In Nevada, although Covid-19 is … Continue reading
Posted in Boulder Strip, Boyd Gaming, Caesars Entertainment, Connecticut, Conventions, Downtown, FanDuel, Foxwoods, Health, Las Vegas Sands, Lotteries, Louisiana, Marketing, Massachusetts, MGM Resorts International, Michigan, Mohegan Sun, Nevada, Oklahoma, Pennsylvania, Scientific Games, Sports betting, The Strip, Tribal, West Virginia, Wynn Resorts
2 Comments
Quote of the Day
“Before Tony [Hsieh] moved his Zappos headquarters to the former Las Vegas City Hall in Downtown Las Vegas the national image of Downtown was loose slots and cheap shrimp cocktail.”—Downtown Grand CEO Seth Schorr on the impact of Hsieh, part … Continue reading
Posted in Downtown, Downtown Grand, Tony Hsieh
1 Comment
Quote of the Day
“Tony’s kindness and generosity touched the lives of everyone around him, and forever brightened the world. Delivering happiness was always his mantra, so instead of mourning his transition, we ask you to join us in celebrating his life.”—official announcement of … Continue reading
Posted in Current, Downtown
3 Comments
Las Vegas: First, the bad news …
It’s no wonder October was a bad month for the Las Vegas Strip and Downtown. Visitation to Sin City fell 49.5% and room revenue tumbled 61%. Caesars Entertainment CEO Tom Reeg could, for the sake of argument, be right that … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, California, Cirque du Soleil, Conventions, Derek Stevens, Donald Trump, Downtown, Economy, Entertainment, Internet gambling, Jim Murren, Las Vegas Raiders, Las Vegas Sands, Movies, Real Estate, Sports, Sports betting, Station Casinos, The Strip, Tourism, Transportation
1 Comment
A tale of two Nevadas
October was a tale of two Nevadas, one of which (the north) did quite well whilst the other did not. Gaming revenue statewide was down 19.5%, with the Las Vegas Strip acting as a drag anchor, minus 30% at $375 … Continue reading
Posted in Atlantic City, Australia, Boulder Strip, Caesars Entertainment, Crown Resorts, Downtown, Economy, Elaine Wynn, Entertainment, Golden Gaming, Health, Lake Tahoe, Las Vegas Raiders, Laughlin, Mesquite, Nevada, North Las Vegas, Palms, Real Estate, Reno, Resorts World LV, Sports, Sports betting, Station Casinos, Technology, The Strip, Wendover, Westgate LV, Wynn Resorts
4 Comments
At long last, Circa; Las Vegas Strip, empty city
Yesterday was Circa Day, the opening of the most-anticipated Las Vegas casino in a long time (yes, even before Aria). Much of that buzz was due to owner Derek Stevens‘ canny mastery of PR but a spiffy new Downtown casino … Continue reading
Posted in Architecture, Boyd Gaming, Derek Stevens, Donald Trump, Downtown, Downtown Grand, DraftKings, Economy, Entertainment, FanDuel, Golden Nugget, Health, Illinois, Las Vegas Sands, Law enforcement, MGM Resorts International, Penn National, Pennsylvania, Sports betting, Terry Caudill, The Strip, Tourism, Vdara Death Ray, Wall Street
1 Comment
Buy, sell, lease, buy, sell, lease …; Election: What’s at stake
In an elaborate transaction, Caesars Entertainment sold Tropicana Evansville to Gaming & Leisure Properties Inc. for $340 million, after which the lease on the casino will revert to Twin River Holdings, which will pay $28 million a year for the … Continue reading
Posted in Caesars Entertainment, Colorado, Cretins, Delaware, Donald Trump, Downtown, Election, GLPI, Indiana, Louisiana, Maryland, Racinos, South Dakota, Sports, Sports betting, The Strip, Twin River, Virginia
2 Comments
Strip drags down Nevada; Station, MGM upgraded
Gambling revenue in September on the Las Vegas Strip plunged 39% to $355 million, driving the worst of a 22% decline in Nevada win. By contrast, Reno and Lake Tahoe were beacons of hope, up 3.5% and 36% respectively. Downtown … Continue reading
Posted in Boulder Strip, Colorado, Cretins, Downtown, DraftKings, Economy, Indiana, Lake Tahoe, Laughlin, Law enforcement, Mesquite, MGM Resorts International, Nevada, New Jersey, North Las Vegas, Reno, Sports betting, The Strip, Wall Street, Wendover
Comments Off on Strip drags down Nevada; Station, MGM upgraded
Adelson abandons Vegas; Boyd salvages bad quarter
Sheldon Adelson may have flung $75 million at deciding who’s going to run the country for the next four years but he’s giving up on America. News broke yesterday that Las Vegas Sands is shopping Venelazzo for six billion. We’ve … Continue reading
Massachusetts’ mixed message; Much ado about Circa
Even if Congress beats the odds and passes another megabuck stimulus bill before the election, it won’t provide more than a short-term shot in the arm for gaming, which saw a bubble of increased discretionary spending but is now backsliding. … Continue reading