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- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
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Category Archives: Economy
Meet the new National Harbor boss, same as the old boss
Maryland closed out 2021 hot, up 16% from 2019 with a gross of $173 million in December. As usual, MGM National Harbor was in the lead with $74.5 million. Maryland Live booked $62.5 million for a 20.5% gain and 36% … Continue reading
Posted in Alex Meruelo, Arizona, Atlantic City, Boyd Gaming, Caesars Entertainment, California, Churchill Downs, Dining, DraftKings, Economy, FanDuel, Golden Gaming, Health, Idaho, Indiana, Las Vegas Raiders, Louisiana, Macau, Marketing, Maryland, MGM Resorts International, Mississippi, Missouri, Nevada, New Hampshire, New Jersey, New York, Ohio, Oklahoma, Penn National, Pennsylvania, Rush Street Gaming, Sahara, Sports, Sports betting, Taxes, Technology, Tennessee, The Strip, Tourism, Tribal, Wall Street, World Series of Poker
Comments Off on Meet the new National Harbor boss, same as the old boss
Doldrums in Macao; “Love” in jeopardy; Mega-Jottings
There’s an Eeyore sweatshirt that says, “Could be worse. Not sure how, but it could be.” That pretty much sums up the situation in Macao, which finished 2021 44% ahead of 2020 when it comes to gambling revenue … but … Continue reading
Posted in Arizona, Atlantic City, Cirque du Soleil, Colorado, Cordish Co., Economy, Florida, Galaxy Entertainment, GLPI, Health, IGT, International, Lake Tahoe, Las Vegas Raiders, Las Vegas Sands, Laughlin, Law enforcement, Macau, Maryland, Melco Resorts & Entertainment, MGM Resorts International, North Carolina, Politics, Real Estate, Regulation, Sports betting, Taxes, Tribal, Wall Street, Washington State, Wynn Resorts
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Mirage sold; Big win for Las Vegas; Bluhm, Reinsdorf clash in Chicago
In a billion-dollar coup, MGM Resorts International has sold the operations of The Mirage to Hard Rock International, a huge markup on Steve Wynn‘s 1989 creation—and Hard Rock isn’t even getting the underlying land! All this for 17X EBITDA, an … Continue reading
Posted in Architecture, Caesars Entertainment, Chicago, Cordish Co., Downtown, DraftKings, Economy, Hard Rock International, Health, Japan, MGM Resorts International, Mohegan Sun, New Jersey, Pennsylvania, Planet Hollywood, Politics, Rush Street Gaming, Scott Butera, Sports, Sports betting, Station Casinos, Steve Wynn, The Strip, TV, Virgin Hotels
4 Comments
MGM resurgent in Maryland; More Mega-Jottings
November was another terrific month for Maryland casinos, as revenues picked up a bit from October, accumulating 14% more than in November 2019.. (If inflation is so bad, where do Marylanders find all this money with which to gamble, one … Continue reading
Posted in Architecture, Atlantic City, Australia, Caesars Entertainment, California, Churchill Downs, Cordish Co., Crown Resorts, Economy, Election, Entertainment, Florida, Golden Gaming, Hard Rock International, Japan, Las Vegas Raiders, Las Vegas Sands, Louisiana, Macau, Maryland, MGM Resorts International, Mohegan Sun, Movies, Nevada, Penn National, Planet Hollywood, San Manuel Band of Mission Indians, South Korea, Sports, The Rio, The Strip, Virgin Hotels, Virginia, West Virginia, World Series of Poker, Wynn Resorts
4 Comments
Seminoles to feds: “F*** off”; Strip casinos drive down employment
In a big “up yours” to the federal judiciary, the Seminole Tribe—after momentarily pausing—has resumed taking sports bets and is effectively daring the courts to do something about it. If that weren’t nervy enough, the Seminoles have asked Judge Dabney … Continue reading
Encore owns Massachusetts; Online slot players hosed
Massachusetts gaming revenue accelerated to $96 million last month, 23% higher than 2019. Encore Boston Harbor vaulted 37% to $63 million—yes, two-thirds of the statewide gross and well above Deutsche Bank‘s forecast of $55 million. Despite Wynn Resorts‘ dominance, Plainridge … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Cretins, Detroit, Economy, FanDuel, Hard Rock International, Illinois, Iowa, Law enforcement, Massachusetts, MGM Resorts International, Nebraska, Neil Bluhm, New Jersey, North Carolina, Peninsula Pacific, Penn National, Pennsylvania, Racinos, Regulation, Sports, Sports betting, Tribal, TV, Virginia, Wall Street, Wynn Resorts
1 Comment
MGM to sell Mirage; Caesars disappoints Wall Street
At a time when the north Las Vegas Strip is finally heating up, MGM Resorts International has chosen this moment to put The Mirage on the market. Although it’s 32 years old (224 in dog years), The Mirage should fetch … Continue reading
Posted in BetMGM, Boyd Gaming, Conventions, Cosmopolitan, Economy, Election, Hard Rock International, Health, Internet gambling, Jim Murren, Lake Tahoe, Louisiana, Macau, Marketing, MGM Resorts International, New Jersey, New York, Palms, Penn National, Phil Ruffin, Planet Hollywood, San Manuel Band of Mission Indians, Sports betting, The Strip, Vici Properties, Wall Street
2 Comments
DraftKings, MGM play chicken, MGM wins; Highway robbery in N.Y.
As we’ve written elsewhere, this was supposed to be The Year of Sports Betting … before the Covid-19 Delta variant reared its ugly head (and that was before Coronavirus knocked us out of Global Gaming Expo). But sports betting could … Continue reading
Posted in Alaska, Bally, DraftKings, Economy, Georgia, Illinois, Indiana, Las Vegas Sands, Louisiana, MGM Resorts International, New York, Politics, Slot routes, Sports, Sports betting, Steve Wynn, Taxes, The Strip, Tribal, Wall Street
1 Comment
Sands: From bad to worse; Musk subway system approved for Vegas
Wall Street analysts were frankly underwhelmed by Las Vegas Sands‘ third quarter. Now that the company is wholly reliant upon the afflicted Macao and Singapore markets that’s hardly surprising. JP Morgan analyst Joseph Greff was pretty blunt, calling Macanese cash … Continue reading
Posted in Atlantic City, Bally, China, Cordish Co., Downtown, Economy, Election, Entertainment, Golden Nugget, Hard Rock International, Health, Illinois, Internet gambling, Las Vegas Sands, Macau, Marketing, Maryland, MGM Resorts International, Pennsylvania, Regulation, Singapore, Sports betting, Station Casinos, Technology, The Strip, Transportation, Tribal, Wall Street
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Biden wades into Florida swamp; New eras at Palms, Ocean
Intentionally or not, President Joe Biden (D) has done Florida Gov. Ron DeSantis (R) a solid. He wants the federal judiciary to dismiss litigation that would invalidate DeSantis’ controversial compact with the Seminole Tribe. As amusing as the spectacle of … Continue reading
Posted in Aristocrat, Atlantic City, Australia, Baseball, Boyd Gaming, Caesars Entertainment, Connecticut, Economy, Environment, Florida, Full House Resorts, Hard Rock International, Health, Illinois, Illitch Family, Lake Tahoe, Las Vegas Sands, LVCVA, Marketing, MGM Resorts International, Money laundering, Nevada, North Las Vegas, Ocean Resort, Palms, Regulation, Reno, San Manuel Band of Mission Indians, Seminole Tribe, Sports betting, Star Entertainment, Station Casinos, Technology, The Strip, Tribal, Wynn Resorts
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Dream comes true; Recovery stays strong; DraftKings’ clock cleaned
If they can scrape together $500 million (which shouldn’t be a problem in this investment climate), developers David Daneshforooz and Bill Shopoff have the Clark County Commission‘s blessing to move forward with the Dream casino-hotel. Despite a raft of security … Continue reading
Posted in Atlantic City, Bally, Boyd Gaming, Caesars Entertainment, Charity, Churchill Downs, Cordish Co., DraftKings, Economy, G2E, Golden Gaming, Hard Rock International, Health, history, Illinois, International, Jack Entertainment, Las Vegas Raiders, Maryland, MGM Resorts International, North Carolina, Ohio, Penn National, San Manuel Band of Mission Indians, Security, Sports betting, Station Casinos, The Strip, Tribal, Wall Street, West Virginia
1 Comment
Business comeback fuels Strip; Massachusetts fumbles sports betting
Las Vegas Strip room rates continue to demonstrate sustained strength through October and, get this, midweek traffic is driving the bus. Overall, weekday prices are up 22% versus 17% on weekends. MGM Resorts International is the pace car, +24% midweek … Continue reading
Posted in Caesars Entertainment, California, Card rooms, Connecticut, Derek Stevens, Economy, Fontainebleau, Health, IGT, International, Japan, Las Vegas Raiders, Las Vegas Sands, Macau, Massachusetts, MGM Resorts International, Mohegan Sun, Politics, Resorts World LV, Singapore, Sports, Sports betting, Taxes, The Strip, Tribal, Wall Street, Wynn Resorts
1 Comment
Boyd, Caesars express optimism; Atlantic City slows
Continuing JP Morgan‘s march through Las Vegas, senior analyst Joseph Greff met with Boyd Gaming CEO Keith Smith and CFO Josh Hirsberg. They seemed pleased, on the whole, marveling and the resilience of their customers, whose play was “amazingly consistent” … Continue reading
Posted in Arizona, Atlantic City, Australia, Boyd Gaming, Caesars Entertainment, Conventions, Cosmopolitan, Crown Resorts, Downtown, Economy, Golden Nugget, Hard Rock International, Hawaii, International, Internet gambling, Las Vegas Sands, Marketing, Massachusetts, MGM Resorts International, Mississippi, Ocean Resort, Penn National, Pennsylvania, Sports betting, The Strip, Transportation, Wall Street, Wynn Resorts
4 Comments