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Category Archives: Economy
Further growth projected for Vegas; Arizona sports betting upheld
As we await tomorrow’s reopening of Main Street Station, a set of projections comes from Deutsche Bank analyst Carlo Santarelli that should have Las Vegas casino owners rubbing their hands with glee. Mind you, Santarelli might be erring on the … Continue reading
Posted in Arizona, Boyd Gaming, Cosmopolitan, Economy, El Cortez, Indiana, Las Vegas Raiders, Louisiana, Michael Gaughan, Missouri, Ohio, Sports, Sports betting, The Strip, Tribal, Wall Street
3 Comments
Lake Charles leads Louisiana; Caesars welcomes super-spreaders
Louisiana casino revenues continue to march upward, gaining 10% over 2019 in July. The statewide gross was $222 million. Business was especially lively in Baton Rouge, up 32%. That was propelled by L’Auberge Baton Rouge, vaulting 41% to $16 million. … Continue reading
Competitive vitality in Pennsylvania; The politics of casinos
Pennsylvania was late to the casino-recovery party but it’s finally arrived, up 1% in July over 2019 for a gross of $310 million, of which $223 million was won at the slots. The good news may be short-lived, in that … Continue reading
Posted in Alex Meruelo, Atlantic City, BetMGM, Boyd Gaming, Caesars Entertainment, California, Card rooms, Centaur Gaming, Churchill Downs, Cordish Co., Derek Stevens, DraftKings, Economy, Entertainment, FanDuel, FoxBet, Greenwood Racing, Health, Indiana, Internet gambling, Japan, Law enforcement, Marketing, Michael Gaughan, Mohegan Sun, Nevada, Oklahoma, Oregon, Penn National, Pennsylvania, PointsBet, Politics, Regulation, Rush Street Gaming, South Korea, Spectacle Entertainment, Sports betting, Station Casinos, Tamares Group, Taxes, Texas, Tribal, TV, Wall Street, West Virginia, Wynn Resorts
1 Comment
MGM does the right thing; Killer chipmunks in Lake Tahoe
In a very george move, MGM Resorts International is donating two acres of Strip land to be the site of a memorial to the victims of the Mandalay Bay Massacre. The acreage, at the corner of Reno Avenue and Giles … Continue reading
Posted in Australia, Bally, Baseball, Caesars Entertainment, Charity, Crown Resorts, Dining, Economy, GLPI, Health, Iowa, Lake Tahoe, Las Vegas Sands, Macau, Mandalay Bay Massacre, MGM Resorts International, Minnesota, North Carolina, Sociedade de Jogos de Macau, Sports betting, Taxes, The Strip, Tribal, Virginia, Wall Street, Wynn Resorts
1 Comment
Masks back on, Las Vegas!; All’s right with the REITs
Mincing few words, MGM Resorts International CEO Bill Hornbuckle sent a letter to all employees, urging them to quit dithering and get their Covid-19 vaccinations, if they haven’t already. He pleaded, “In addition to the heart-wrenching thought of more illness … Continue reading
Posted in Bally, BetMGM, Boulder Strip, Boyd Gaming, Caesars Entertainment, Charity, Churchill Downs, Conventions, Delaware, Derek Stevens, Dining, Economy, GLPI, Health, history, Indiana, Kentucky, Lake Tahoe, Las Vegas Sands, Laughlin, Maryland, MGM Resorts International, Mississippi, Nevada, North Las Vegas, Penn National, Real Estate, Resorts World LV, Singapore, Sports betting, The Strip, Tribal, Wall Street
3 Comments
Station hits records, drops hints; Strip suffers mild setback
Station Casinos announced 2Q21 earnings yesterday and “blows through” previous peaks, according to Deutsche Bank analyst Carlo Santarelli. Despite expiration of the management contract at Graton Rancheria, Station recorded record levels of net revenue ($426.5 million) and cash flow ($210 … Continue reading
Boyd beats The Street but charts cautious course
“Massive beat” and “exceptional” results were some of the terms being bandied about after yesterday’s Boyd Gaming 2Q21 earnings call. Wall Street expected $803 million in revenue and Boyd delivered $896.5 million, while profit margins at its Las Vegas locals … Continue reading
Massachusetts stumbles, Louisiana cruises; Big blunder at Circa
Shazam! Massachusetts casino revenues for June were $84 million, 67% higher than 2019. But wait … as Deutsche Bank analyst Carlo Santarelli points out, Encore Boston Harbor wasn’t operational two years ago (it debuted on June 23, 2019), so on … Continue reading
Posted in Atlantic City, Australia, Boyd Gaming, Caesars Entertainment, California, Century Casinos, Churchill Downs, CQ Holdings, Derek Stevens, DFS, DraftKings, Economy, Golden Gaming, Health, Internet gambling, Laughlin, Louisiana, Massachusetts, MGM Resorts International, Missouri, Nevada, Penn National, Pennsylvania, Sports, Sports betting, TV, Westgate LV, Wynn Resorts
1 Comment
Resorts World a smash hit; Cranky Maine woman stiffs tribes
Some of us thought Nevada would never regain the giddy gambling heights of 2007. We were wrong. May was the best month in Silver State history, as casinos raked in $1.2 billion. (The previous high was in October 2007, on … Continue reading
Posted in Arizona, Atlantic City, BetMGM, Caesars Entertainment, Cordish Co., DraftKings, Economy, FanDuel, Genting, Health, Maine, Marketing, Nebraska, Nevada, North Carolina, Pennsylvania, Phil Ruffin, Politics, Racinos, Resorts World LV, Sahara, Sports, Sports betting, Tennessee, Tribal, Virginia, Wynn Resorts
2 Comments
Merry month of May in Las Vegas; Beehive of activity in Atlantic City
May’s gaming revenues from Nevada are in and they are blockbuster. When the Strip is 26% higher than 2019 (winning $655.5 million) and locals play is 25% stronger it is fair to say the recovery has been achieved—and far sooner … Continue reading
Posted in Atlantic City, Boulder Strip, Caesars Entertainment, Carl Icahn, Connecticut, Cretins, Diversity, Downtown, Economy, Health, history, Internet gambling, Lake Tahoe, Laughlin, Marijuana, Mesquite, Michael Gaughan, Mohegan Sun, Nevada, North Las Vegas, Reno, Sports betting, The Strip, Wendover
4 Comments
Florida gets tag-teamed; Penn upbeat on 2021; Vegas room rates soar
This is how it’s done. Or supposed to be done. DraftKings and FanDuel are teaming to back a petition drive to legalize sports betting in Florida. Aimed at the November 2022 election ballot, the resolution would dedicate tax revenues from … Continue reading
Posted in Baseball, Caesars Entertainment, Canada, Colorado, Dining, DraftKings, Economy, Election, FanDuel, Hard Rock International, Las Vegas Sands, Law enforcement, Louisiana, Maine, Massachusetts, MGM Resorts International, Oklahoma, Peninsula Pacific, Penn National, Pennsylvania, Problem gambling, Regulation, Sports, Sports betting, Taxes, The Strip, Tourism, Tribal, Wall Street, Wynn Resorts
2 Comments
Unlucky Lucy; Las Vegas “vibrant;” Secret plan for Atlantic City
No executives? No financing? No problem, right? Big problem! Just ask the nonentities behind a proposed Terre Haute casino. They just got turned down for a license. This almost never happens in “gold standard” Nevada, not because casino projects have … Continue reading
Posted in Architecture, Atlantic City, Bally, Caesars Entertainment, Charity, Conventions, Cordish Co., Dining, Economy, Entertainment, Hard Rock International, Horseracing, Illinois, Indiana, Law enforcement, Macau, MGM Resorts International, New York, North Carolina, Pennsylvania, Politics, Real Estate, Regulation, Slot routes, Sociedade de Jogos de Macau, Spectacle Entertainment, Taxes, The Strip, Tourism, Tribal, Virginia
2 Comments
Las Vegas heats up; Zombies overrun Atlantic City
In a benchmark development, three of the four major Las Vegas Strip operators posted higher midweek rates for the July 4-July 10 period than in 2019. Caesars Entertainment was flat, probably due to its sheer proliferation of hotel rooms. MGM … Continue reading
Posted in Atlantic City, BetMGM, Caesars Entertainment, Colony Capital, Conventions, Cordish Co., Economy, Entertainment, Indiana, Japan, Las Vegas Sands, Marketing, MGM Resorts International, Movies, Nevada, Pennsylvania, PointsBet, Rush Street Gaming, Sheldon Adelson, Sports, Sports betting, Stanley Ho, The Strip, Tourism, Transportation, TV, William Hill, Wynn Resorts
Comments Off on Las Vegas heats up; Zombies overrun Atlantic City
Maryland heats up; Vegas restaurants rebound; Rivers is george
Casinos in the Free State jetted 13% above 2019 levels, grossing $172 million, a new record. MGM National Harbor led with $68.5 million (+16%) and 40% market share. Maryland Live was up 15% to $61.5 million for 35.5% market share, … Continue reading
Posted in Arizona, Caesars Entertainment, China, Churchill Downs, Colorado, Cordish Co., Cretins, Culinary Union, Dining, Economy, Golden Gaming, Health, Horseracing, Lotteries, Macau, Maryland, Massachusetts, MGM Resorts International, New York, Penn National, Pennsylvania, Resorts World LV, Rush Street Gaming, Tribal, Virgin Hotels, Wall Street, West Virginia, Wynn Resorts
2 Comments
Getting nasty in Florida; Police blotter
A “tortured artifice.” That’s what Miami Beach Mayor Dan Gelber (D) calls the new Florida gaming compact in a letter to the Interior Department. He urged them to reject the deal, not because of any issues with the Seminole Tribe, … Continue reading
Posted in Atlantic City, Churchill Downs, Donald Trump, Drugs, Economy, El Cortez, Entertainment, Florida, G2E, Hard Rock International, Health, Horseracing, Law enforcement, Louisiana, Macau, MGM Resorts International, Money laundering, North Carolina, Pansy Ho, Politics, Problem gambling, Seminole Tribe, Sociedade de Jogos de Macau, Sports, Sports betting, The Strip, Tribal
1 Comment
Steve Wynn, international man of mystery
“Foreign agent.” That’s who Steve Wynn is, according to the Justice Department, which is prepared to sue the disgraced casino mogul if he doesn’t register as an aegis of Red China‘s government. Seems that Steve was carrying water for the … Continue reading
Posted in Atlantic City, Caesars Entertainment, California, Canada, Card rooms, Century Casinos, China, Cretins, Detroit, Donald Trump, Economy, Election, Health, Internet gambling, Law enforcement, LVCVA, MGM Resorts International, Missouri, North Carolina, Ocean Resort, Phil Ruffin, PointsBet, Politics, Sheldon Adelson, Sports, Sports betting, Steve Wynn, The Strip, Tourism, Transportation, Tribal, Wisconsin, Wynn Resorts
4 Comments