Category Archives: Economy

Atlantic City up in November; Sports betting comes to Michigan

Posted on December 13, 2019 by David McKee

Gross gaming revenues of $224 million in Atlantic City last month represented a 7% gain. Table games (+11%) led the way, followed by slot revenues, up 6%. Table win at Borgata rose 14.5% on 7% more wagering, as the house … Continue reading →

Posted in Atlantic City, Boyd Gaming, Caesars Entertainment, DFS, e-sports, Economy, Eldorado Resorts, Environment, FanDuel, Greenwood Racing, Hard Rock International, Internet gambling, MGM Resorts International, Michigan, Mohegan Sun, New Jersey, Ocean Resort, Penn National, Pennsylvania, Politics, Rush Street Gaming, Sports betting, Taxes, Tilman Fertitta, Tribal | 1 Comment

Looking for love in Macao; Resorts World LV’s big bet

Posted on December 12, 2019 by David McKee

“All of the juice has been squeezed out of the orange. Macao is starting to resemble more mature competitive markets such as Las Vegas and Atlantic City.” Ouch! That was Bloomberg Intelligence contributing analyst David Bonnet, taking an exceptionally gloomy view … Continue reading →

Posted in Architecture, Atlantic City, Century Casinos, Economy, Genting, Hard Rock International, Japan, Las Vegas Sands, Macau, Missouri, Mohegan Sun, New Jersey, Oklahoma, Philippines, Rush Street Gaming, South Korea, Taxes, The Strip, Transportation, Tribal, Vietnam | 2 Comments

Duterte socks it to casinos; Sports betting battle in California

Posted on December 9, 2019 by David McKee

This is an effective promotional tool. Why aren’t other companies doing it? (We’re looking at you, Caesars Entertainment.) * Philippine strongman Rodrigo Duterte is punching out at Philippines offshore gaming operators (POGOs) over delinquent taxes. He asserted that they had paid … Continue reading →

Posted in California, Cosmopolitan, DraftKings, Economy, FanDuel, Galaxy Entertainment, Genting, Hard Rock International, International, Internet gambling, MGM Resorts International, Mohegan Sun, Nevada, Philippines, Politics, Regulation, Sexual misconduct, Sports betting, The Rio, The Strip, Tribal | Comments Off on Duterte socks it to casinos; Sports betting battle in California

Wynn writes $20M check; Japan wants your winnings

Posted on December 3, 2019 by David McKee

Settlement of a shareholder lawsuit against Wynn Resorts will be covered in large part by Steve Wynn himself, paying $20 million, with insurers chipping in $21 million. The suit accused the Wynn Resorts board of directors of complicity in Steve … Continue reading →

Posted in China, Economy, Environment, Japan, Macau, Problem gambling, Sexual misconduct, Steve Wynn, Taxes, Wynn Resorts | Comments Off on Wynn writes $20M check; Japan wants your winnings

Norment’s Torment; New hope for Cal-Neva

Posted on December 2, 2019 by David McKee

Virginia state Sen. Tommy Norment (R) hasn’t been paying attention to the performance of MGM National Harbor. Placing a resort casino in northern Virginia would be, he says, “complete folly.” Instead, Old Virginny will have to put its hopes on … Continue reading →

Posted in Caesars Entertainment, Canada, Dubai, Economy, history, Horseracing, International, Lake Tahoe, Law enforcement, Lotteries, Maryland, MGM Resorts International, Money laundering, New York, Ohio, Politics, Problem gambling, Resort fees, Sports, Sports betting, Taxes, The Strip, Tilman Fertitta, Transportation, Tribal, Virginia | 1 Comment

Scientific fluent in Chinese; William Hill seeks new horizons

Posted on November 25, 2019 by David McKee

It’s not just for China anymore. Scientific Games is reporting success with its Chinese-themed slots, including in North America. Yes, games with titles like Jin Ji Bao Xi, which doesn’t exactly roll off the tongue but is gaining traction with slot players worldwide. “If … Continue reading →

Posted in Cantor Gaming, China, Economy, Environment, Florida, International, Internet gambling, Japan, Macau, MGM Resorts International, Movies, Nevada, North Carolina, Pennsylvania, Philippines, Regulation, Scientific Games, Sexual misconduct, Sports, Sports betting, Technology, The Strip, Tourism, Tribal, Virginia, William Hill | Comments Off on Scientific fluent in Chinese; William Hill seeks new horizons

Quote of the Day

Posted on November 21, 2019 by David McKee

“When has a gaming executive said their great results are because of decreased competition? Or great weather? Or great consumer trends? No—at many gaming companies, when things are great, it is because of their strategies; when things are bad, it … Continue reading →

Posted in Economy | Comments Off on Quote of the Day

Quote of the Day

Posted on November 20, 2019 by David McKee

“We need to take the issue seriously instead of avoiding it. We can’t let this big cake be eaten all by foreign capital.” — Phoenix Island Chairman Zeng Xianyun, advocating casino expansion to tourist-oriented Hainan Province, where MGM Resorts International has … Continue reading →

Posted in Economy, International, MGM Mirage | Comments Off on Quote of the Day

Next stop, Hempfield!

Posted on November 19, 2019 by David McKee

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

Ocean outperforms Atlantic City; Encore Boston crushes competition

Posted on November 15, 2019 by David McKee

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

Caution on Scientific, Golden; VIPs passé in Macao

Posted on November 8, 2019 by David McKee

Scientific Games must have been less than thrilled with Credit Suisse analyst Ben Combes‘ report on their third quarter. It was headlined, “Solid Quarter, But Leverage Concerns Keep Us on the Sidelines.” Cash flow of $344 million beat the Wall … Continue reading →

Posted in California, Canada, China, Dining, Economy, Entertainment, Genting, Golden Gaming, Greenwood Racing, Illinois, International, Internet gambling, Las Vegas Raiders, Lotteries, Macau, MGM Resorts International, Nevada, New York, Penn National, Pennsylvania, PokerStars, Resort fees, Rush Street Gaming, Scientific Games, Sheldon Adelson, The Strip, Tribal, Wall Street, Wynn Resorts | Comments Off on Caution on Scientific, Golden; VIPs passé in Macao

Why does Massachusetts suck?

Posted on November 5, 2019 by David McKee

Did the casino industry drink its own bathwater vis-a-vis Massachusetts? The Boston Globe asks “whether the industry didn’t fully understand how tough it would be to attract gamblers in a regional market that has become increasingly competitive.” Both Encore Boston … Continue reading →

Posted in Carl Icahn, Economy, Fontainebleau, Massachusetts, MGM Resorts International, New York, Penn National, Steven Witkoff, Taxes, The Strip, Wynn Resorts | 1 Comment

Clarkson takes Vegas; Penn exudes confidence

Posted on November 1, 2019 by David McKee

It’s about time: Kelly Clarkson is coming to Las Vegas for a residency at Planet Hollywood, running from April 1 of next year through the following September. Having been on the scene for nearly 20 years (already?), Clarkson will have … Continue reading →

Posted in China, Current, Economy, Entertainment, Illinois, Louisiana, Massachusetts, Penn National, Slot routes, The Strip, Wall Street, Wynn Resorts | 1 Comment

Louisiana gets soaked; Surrender flag waved

Posted on October 24, 2019 by David McKee

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 | Comments Off on Louisiana gets soaked; Surrender flag waved

Macao economy flounders; Massachusetts bonanza illusory

Posted on October 18, 2019 by David McKee

Macao got a double-barreled blast of bad news. First off, China‘s gross domestic product has slowed to growth rates not seen in almost 30 years. In fact, the R-word (“recession”) was invoked. Slow investment growth was blamed, as was the … Continue reading →

Posted in Caesars Entertainment, California, Charity, China, Downtown, Economy, Foxwoods, Las Vegas Raiders, Law enforcement, Macau, Marketing, Massachusetts, MGM Resorts International, Mohegan Sun, Penn National, Politics, Technology, The Strip, Tourism, Transportation, Tribal, Wynn Resorts | Comments Off on Macao economy flounders; Massachusetts bonanza illusory

Should we ban Steve Wynn?; Caesars vote set

Posted on October 15, 2019 by David McKee

Perhaps anticipating the expiration of Steve Wynn‘s noncompete agreement with Wynn Resorts, the Nevada Gaming Control Board has filed a complaint against El Steve in court, saying he brought “discredit” upon the state of Nevada, reports KTNV-TV. Could this be … Continue reading →

Posted in Caesars Entertainment, California, Carl Icahn, Cordish Co., Dining, Economy, Eldorado Resorts, Environment, Hard Rock International, history, Las Vegas Raiders, Louisiana, Marketing, Maryland, Massachusetts, Mohegan Sun, Regulation, Sexual misconduct, Steve Wynn, Tribal, Wall Street, Wynn Resorts | 2 Comments

Trail of breadcrumbs; Survey says …

Posted on October 15, 2019 by David McKee

Waiting for “breadcrumbs to fall off the truck.” That’s Gaming & Leisure Properties‘ self-described business plan. GLPI execs, including CEO Peter Carlino (left), were in Las Vegas for Global Gaming Expo and took the opportunity to chat with J.P. Morgan … Continue reading →

Posted in AGA, Cosmopolitan, Economy, Entertainment, GLPI, history, Las Vegas Sands, MGM Mirage, Penn National, Real Estate, The Strip, Tourism, Tribal, TV | Comments Off on Trail of breadcrumbs; Survey says …

Many fewer Vegas knots tied; Golden Nugget expands

Posted on October 14, 2019 by David McKee

One of Las Vegas‘ mainstays and signature stocks in trade, its wedding industry, is down 42% (yes, 42%) from its 2004 peak. Mind you, it’s still a $2.5 billion business. But the quickie-wedding trade may be hurting and that wouldn’t … Continue reading →

Posted in Charity, Cirque du Soleil, Dining, Downtown, Economy, Election, Entertainment, Internet gambling, Kentucky, MGM Resorts International, Real Estate, Shuffle Master, Sports betting, Technology, Terry Caudill, The Strip, Tilman Fertitta, Wynn Resorts | Comments Off on Many fewer Vegas knots tied; Golden Nugget expands

Wall Street rates Vegas, Macao; Tribes skirmish in Illinois

Posted on October 11, 2019 by David McKee

Credit Suisse analyst Ben Combes turned his attention to three major Las Vegas companies, starting with MGM Resorts International. He’s staying neutral on the giant, writing, “We see Las Vegas as a cyclical but long-term growth market, given strong leverage … Continue reading →

Posted in China, Conventions, Economy, Illinois, Indiana, Las Vegas Sands, Macau, MGM Resorts International, Pennsylvania, Politics, Tourism, Transportation, Tribal | Comments Off on Wall Street rates Vegas, Macao; Tribes skirmish in Illinois

Caesars: What sauce!; Macao underwhelms

Posted on October 8, 2019 by David McKee

With more than a bit of nerve, Caesars Entertainment is jacking up resort fees again. Caesars Palace and Nobu Hotel will have $51.01 in levies (the highest on the Las Vegas Strip, I think; is this a status thing?), while … Continue reading →

Posted in Baseball, Caesars Entertainment, China, Economy, Macau, Michael Gaughan, Mississippi, Mohegan Sun, Nevada, New Jersey, Politics, Problem gambling, Resort fees, Sports betting, Terry Caudill, Wall Street | 1 Comment