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- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
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Category Archives: DraftKings
Wynn zapped again; Canada boosts DraftKings
“Most of the time we can’t even be honest with ourselves.”—The Commoner in Akira Kurosawa‘s Rashomon. If at first they don’t give you a casino in Massachusetts, litigate. And when that doesn’t work, re-litigate. That’s what pouting Suffolk Downs owner … Continue reading
Posted in Atlantic City, Canada, DraftKings, Economy, Election, Las Vegas Raiders, Massachusetts, MGM Resorts International, Mohegan Sun, Pets, Politics, Regulation, Sexual misconduct, Sheldon Adelson, Sports, Sports betting, Steve Wynn, Texas, Wall Street, Wynn Resorts
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New rules, green shoots on the Strip; Mixed messages in Michigan
Casinos in Nevada will take a gut punch tomorrow when new state restrictions go into effect. They’ll have to reduce players on the floor to 25% of capacity, and the same holds true for bars and restaurants. Citing “wildfire” levels … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, California, Colorado, Cordish Co., Detroit, DraftKings, Entertainment, FanDuel, Golden Nugget, Health, Illinois, Internet gambling, Las Vegas Sands, Macau, MGM Resorts International, Michigan, Nevada, New Mexico, New York, Oregon, Pennsylvania, Sports betting, The Strip, Tribal, Wynn Resorts
1 Comment
Sports betting boffo in Illinois; Structural shift at Churchill Downs
Illinois gamblers can’t seem to find their way to a casino nowadays—but they love themselves some sports betting. The state has reached $300 million in handle faster than any in U.S. history—$305 million and change during September. “Illinois’ launch in … Continue reading
Posted in Boyd Gaming, Churchill Downs, DraftKings, FanDuel, Health, Horseracing, Illinois, Internet gambling, Kentucky, Massachusetts, MGM Resorts International, New Jersey, Penn National, Pennsylvania, Rush Street Gaming, Sports betting, Wall Street, Wynn Resorts
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Horseplay in Massachusetts and Monday mega-jottings
At age 86, horse owner Armand Janjigian is as alive and kicking as the thoroughbreds he wants to race in Massachusetts. No, he doesn’t have a track but he’s busily snapping up land for one. He’s also going to need … Continue reading
Posted in California, Card rooms, Churchill Downs, Crown Resorts, Detroit, DFS, DraftKings, Economy, Election, FanDuel, Galaxy Entertainment, Golden Nugget, Health, Horseracing, Illinois, International, Japan, Las Vegas Raiders, Las Vegas Sands, Lotteries, Macau, Massachusetts, MGM Resorts International, Nebraska, New York, Penn National, Politics, Racinos, Regulation, Scientific Games, Sports, Sports betting, Taxes, The Strip, Tourism, Wall Street, Wynn Resorts
2 Comments
Atlantic City looking good but casinos gripe
An extra weekend in October was just what the doctors ordered for Atlantic City, where casino revenues were down just 8% last month, while sports betting surged 26%. Casinos took in $186 million and sports books $58.5 million. Internet gambling … Continue reading
Gaming slows across Midwest … except in Ohio
Caesars Entertainment CEO Tom Reeg must have dropped some extra-potent LSD before his last investor call. His comments were summarized by one auditor as, “When we get into a Post-COVID world Pent-Up demand you’re going to see for Gaming And … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Cordish Co., Dan Gilbert, Detroit, DraftKings, Economy, FanDuel, Full House Resorts, Golden Gaming, Hard Rock International, Indiana, Las Vegas Raiders, Maryland, MGM Resorts International, Ohio, Penn National, Spectacle Entertainment, Sports, Sports betting, Twin River, West Virginia, William Hill
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Station, DraftKings, Macao all looking up
So much news … where to begin? Station Casinos got a thumbs-up from analysts at JP Morgan who met with the Fertitta Brothers and CFO Stephen Cootey. “We come away impressed with [Station’s] resolve in maximizing free cash flow at … Continue reading
Posted in Canada, China, Dining, DraftKings, Economy, Health, history, Internet gambling, Macau, Marketing, Palms, Phil Ruffin, Sports, Sports betting, Station Casinos, Wall Street
2 Comments
Election Special: “The biggest political event ever”
An anonymous British financier will have to wait another 24 hours to find out if his $5 million bet on Donald Trump comes up a winner. He’ll pocket $15 million from Curaçao bookies if it does. The flutter, made after … Continue reading
Baker’s casino crackdown; NFL playoffs diluted
No more all-night gambling for you, Massachusetts! Seeing a rise in Covid-19 cases, Gov. Charlie Baker (R) has curtailed casino hours. They have to close by 9:30 p.m. until further notice. If you’re buying booze (essential for Election Night) or … Continue reading
Posted in DraftKings, Economy, FanDuel, Health, International, Massachusetts, MGM Resorts International, Regulation, Rush Street Gaming, Sports, Sports betting, Wynn Resorts
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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
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
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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
Sports, Internet buoy Atlantic City; Detroit struggles
As we predicted, Atlantic City is coming back faster than Las Vegas. It doesn’t hurt that it is not A) primarily a destination market; B) dependent upon conventions; C) reliant upon international travel; or D) at the mercy of the … 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
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
Caesars pleads poverty; FBI descends on Vegas
News sources are reporting “mass layoffs” at Caesars Southern Indiana, one of the company’s more successful properties. As many as 200 staff have been given their walking papers, not just in the poker room but vital departments like servers, bartenders, … Continue reading
Posted in Caesars Entertainment, Canada, Cosmopolitan, Derek Stevens, Donald Trump, DraftKings, Economy, Entertainment, Health, Indiana, Las Vegas Sands, Law enforcement, Marketing, MGM Resorts International, Missouri, Nevada, Penn National, Planet Hollywood, Resorts World LV, Security, Sports betting, Stanley Ho, Tourism, Transportation, Wall Street, Wynn Resorts
6 Comments
What ails Illinois?; Trump Plaza comes down
In a month that saw Ohio casino revenues grow 6% and Iowa almost 1% (to $119.5 million), Illinois casinos plummeted 27% to a measly $82 million. Even a sub-50% capacity restriction doesn’t begin to explain away the problem. Predictably, Rivers … Continue reading
Posted in Arizona, Atlantic City, Boyd Gaming, Caesars Entertainment, Carl Icahn, Churchill Downs, Dining, DraftKings, FanDuel, Full House Resorts, Illinois, Indiana, Internet gambling, Iowa, MGM Resorts International, Michigan, Penn National, Politics, Rush Street Gaming, Spectacle Entertainment, Sports betting, Twin River
1 Comment