Category Archives: Eldorado Resorts

Atlantic City slumps; New wrinkle in Lake Tahoe

Posted on March 15, 2018 by David McKee

First the good news: Internet gambling revenue was 17.5% last month, grossing $22 million. Golden Nugget continues to wildly dominate this category, up to 36% of market share. Borgata and Resorts Digital were tied for a distant second with 17% … Continue reading →

Posted in Atlantic City, Bart Blutsten, Boyd Gaming, Dan Gilbert, Detroit, Eldorado Resorts, Golden Gaming, Greenwood Racing, Hard Rock International, Harrah's, Internet gambling, Lake Tahoe, MGM Mirage, Mohegan Sun, Neil Bluhm, Penn National, Pennsylvania, Pinnacle Entertainment, Tilman Fertitta, Tropicana Entertainment | 1 Comment

Indiana suffers, Ohio not so much; Station’s surprise

Posted on March 8, 2018 by David McKee

While its $170 million gross looked a lot better than Illinois‘ $104 million, Indiana saw its gamblers stay home in droves — 24% less foot traffic, although those who showed up seemed to have spent 21%. In any event, gambling … Continue reading →

Posted in Boyd Gaming, Churchill Downs, Economy, Eldorado Resorts, George Maloof, GLPI, Hard Rock International, Harrah's, Illinois, Indiana, Kentucky, Marketing, Ohio, Palms, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Reno, Sports, Station Casinos, The Strip, Tribal | Comments Off

Eldorado sells down; Vegas tourists stay home

Posted on March 1, 2018 by David McKee

Churchill Downs continues to grow as a casino operator, cutting a deal with Eldorado Resorts to buy Presque Isle Downs in Erie, Pennsylvania, and Lady Luck Vicksburg Casino in Mississippi for $229.5 million. That’s an above-average valuation for gaming assets … Continue reading →

Posted in California, Churchill Downs, Economy, Eldorado Resorts, Mississippi, Pennsylvania, The Strip, Tourism, Wall Street | Comments Off

Wynn: It gets worse; More changes for Palms

Posted on February 28, 2018 by David McKee

Steve Wynn may have left Wynn Resorts but the collateral damage keeps careening about like a ricocheting bullet. Yesterday The Associated Press got a hold of two police reports filed against the mogul. The more explosive of the two alleges that … Continue reading →

Posted in Architecture, Dining, Downtown, Eldorado Resorts, Illinois, Marketing, Massachusetts, MGM Mirage, Palms, Regulation, Reno, Sexual misconduct, Station Casinos, Steve Wynn, Steven Witkoff, The Strip, Wall Street, Wynn Resorts | Comments Off

Greed in Japan; IGT embraces diversity

Posted on February 26, 2018 by David McKee

“Japan Junks it Up.” That was Global Gaming Business‘ teaser for an article on investment-killing measures that have a strong chance of making it into the Liberal Democratic Party‘s casino-implementation bill. Jim Murren might want to think twice about sinking … Continue reading →

Posted in Boyd Gaming, Dining, Eldorado Resorts, Harrah's, IGT, Illinois, Iowa, Isle of Capri, Japan, Macau, Melco Resorts & Entertainment, MGM Mirage, Missouri, Pinnacle Entertainment, Politics, Sheldon Adelson, Slot routes, Taxes, Wynn Resorts | 1 Comment

Louisiana stutters; MLB rigs the odds

Posted on February 16, 2018 by David McKee

Gambling in Louisiana was a bit off the pace last month, down 4% ($187 million). Most of that was due to a terrible Baton Rouge market, tumbling 21%, while Lake Charles (+2%) remained immune. New Orleans (-2%) and Shreveport/Bossier City … Continue reading →

Posted in Boyd Gaming, Churchill Downs, Economy, Eldorado Resorts, GLPI, Harrah's, Internet gambling, Isle of Capri, Kazuo Okada, Louisiana, Missouri, Pinnacle Entertainment, Politics, Sports, Steve Wynn, Tilman Fertitta, Tropicana Entertainment, TV, Wall Street, Wynn Resorts | 1 Comment

Cold January in Atlantic City, Pennsylvania; Bull runs rampant in Vegas

Posted on February 15, 2018 by David McKee

Just when everything seemed settled into a comfortable groove in Atlantic City, January revenues fell off the table, down 12.5%. The silver lining, if it qualifies as that, was that online revenues ($22 million) climbed 17%. Golden Nugget, with 33% … Continue reading →

Posted in Animals, Atlantic City, Boyd Gaming, Culinary Union, Current, Dan Gilbert, Detroit, Economy, Eldorado Resorts, Greenwood Racing, Harrah's, Internet gambling, Isle of Capri, MGM Mirage, Mohegan Sun, Neil Bluhm, North Las Vegas, Penn National, Pennsylvania, Pinnacle Entertainment, Sheldon Adelson, Station Casinos, Tilman Fertitta, Tropicana Entertainment | 1 Comment

GLPI picks at Wynn; Indiana players stay home

Posted on February 9, 2018 by David McKee

Gaming & Leisure Properties met with Wall Street analysts this week and it had the future of Wynncore on its mind. “While GLPI remains open to doing Las Vegas asset transactions, they view the risk profile as considerably higher given … Continue reading →

Posted in Ameristar, Boyd Gaming, Centaur Gaming, Charity, Economy, Eldorado Resorts, Full House Resorts, GLPI, Harrah's, Indiana, Majestic Star, Mandalay Bay Massacre, Massachusetts, MGM Mirage, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, The Strip, Tribal, Tropicana Entertainment, Wall Street, Wynn Resorts | Comments Off

Life after Wynn

Posted on February 8, 2018 by David McKee

There may not be much, according to a feature in the New York Times. Wall Street analysts are already circling Wynn Resorts like buzzards. “Elvis has left the building. Mr. Wynn’s value to the company is unarguably profound as its chief visionary … Continue reading →

Posted in Boyd Gaming, Dan Gilbert, Eldorado Resorts, Hard Rock International, Macau, Massachusetts, Ohio, Penn National, Pinnacle Entertainment, Racinos, Regulation, Sexual misconduct, Sheldon Adelson, Steve Wynn, Wall Street | 1 Comment

Baccarat slays the Strip

Posted on January 31, 2018 by David McKee

Gaming revenues on the Las Vegas Strip continued to dip in December, down 3% ($571.5 million). Baccarat tore a hole through gaming receipts, with the house plunging 30% on 9% less wagering. Non-baccarat table games fared much better, up 7.5%. … Continue reading →

Posted in Boulder Strip, Economy, Eldorado Resorts, Environment, Illinois, Indiana, Lake Tahoe, Laughlin, Missouri, North Las Vegas, Pennsylvania, Reno, Taxes, The Strip | 1 Comment

New investigation of Wynn; Eldorado on the prowl

Posted on January 31, 2018 by David McKee

After several days of uncertainty, it’s definitive: The Nevada Gaming Control Board will investigate the allegations of sex abuse against Steve Wynn. In the past the NGCB has been only too willing to look the other way when prominent Nevada … Continue reading →

Posted in Atlantic City, Colorado, Downtown, Eldorado Resorts, Entertainment, Florida, history, Isle of Capri, Louisiana, Macau, Massachusetts, Mississippi, Missouri, Regulation, Reno, Sexual misconduct, Station Casinos, Steve Wynn, Wall Street | Comments Off

Bumpy December in Louisiana; Paddock mystery deepens

Posted on January 23, 2018 by David McKee

Louisiana gaming receipts ($227 million) were flat last month, although there were a number of little dramas being played out behind that bland façade. Lake Charles was up 7% and Baton Rouge casinos plunged 17%. L’Auberge du Lac was flat, … Continue reading →

Posted in Boyd Gaming, California, Churchill Downs, Eldorado Resorts, GLPI, Harrah's, Isle of Capri, Law enforcement, Louisiana, Mandalay Bay Massacre, Mesquite, Pinnacle Entertainment, Politics, Regulation, Tilman Fertitta, Tribal, Tropicana Entertainment, Unite-Here | Comments Off

Carnage in Pennsylvania; Fortune Cup takes on Sigma Derby

Posted on January 15, 2018 by David McKee

*Slot revenues at Pennsylvania casinos are in and if JP Morgan‘s numbers are correct they were terrible. According to Morgan analysts slot winnings dove 27%, bottoming out at $187.5 million. Worst off was Sands Bethlehem ($25 million), sinking 44%, followed … Continue reading →

Posted in Boyd Gaming, Dan Gilbert, Delaware, Detroit, Eldorado Resorts, GLPI, Greenwood Racing, Harrah's, Internet gambling, Massachusetts, MGM Mirage, Minnesota, Neil Bluhm, Nevada, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Sheldon Adelson, Sports, Station Casinos, Taxes, Technology, Tourism, Tribal, Wall Street, West Virginia | Comments Off

State of the Strip; Air Area 51

Posted on January 10, 2018 by David McKee

Deutsche Bank analyst Carlo Santarelli met with a number of casino companies recently and came away with a sanguine prospect for the Las Vegas Strip. As for the operators, “Overall, we felt commentary pertaining to the LV locals market, regional … Continue reading →

Posted in Affinity Gaming, Ameristar, Atlantic City, Boyd Gaming, Culinary Union, Economy, Eldorado Resorts, Entertainment, Harrah's, Indiana, International, Isle of Capri, Kentucky, Macau, MGM Mirage, Missouri, Penn National, Pennsylvania, Pinnacle Entertainment, Reno, Sports, The Strip, Tropicana Entertainment, Wall Street | Comments Off

Beauregard the Buzzkill; Arkansas tries for casinos

Posted on January 9, 2018 by David McKee

Attorney General Jefferson Beauregard Sessions has detected that Americans are enjoying themselves and it’s got to stop, forthwith. He’s declared war on marijuana-friendly laws across this great land, misguidedly making loco weed his department’s top law-enforcement priority. Beauregard is flying … Continue reading →

Posted in Arkansas, Boyd Gaming, Colorado, Dan Gilbert, Eldorado Resorts, Election, Hard Rock International, Law enforcement, Macau, Marijuana, Melco Resorts & Entertainment, Nevada, Ohio, Penn National, Pinnacle Entertainment, Problem gambling, Regulation, Sociedade de Jogos de Macau, Sports, The Strip, Tribal | Comments Off

‘Tis the season for buying; Putin drives out Ho

Posted on December 27, 2017 by David McKee

Carl Icahn could make another big score soon: Tropicana Entertainment has been cited as a likely takeover candidate by Wall Street analysts. The combination of saturated markets and low interests has led stock pickers to predict that the industry will … Continue reading →

Posted in Boyd Gaming, Carl Icahn, Cosmopolitan, Eldorado Resorts, Glenn Straub, Golden Gaming, Greenwood Racing, Harrah's, International, Internet gambling, Lawrence Ho, MGM Mirage, Neil Bluhm, Pennsylvania, Revel, Sheldon Adelson, Taxes, Tilman Fertitta, Tropicana Entertainment, Wall Street | Comments Off

Rethinking riverboats in Louisiana; Santa hearts Boyd; High and dry

Posted on December 21, 2017 by David McKee

Baton Rouge is one of the markets that hews to the archaic practice of mandating that godless gambling be conducted over water. H2O has remarkable cleansing properties on filthy casino lucre, it seems. At any rate, even though L’Auberge Baton … Continue reading →

Posted in Architecture, Boyd Gaming, Churchill Downs, Current, Economy, Eldorado Resorts, GLPI, Greenwood Racing, Internet gambling, Isle of Capri, Louisiana, Macau, Palms, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Regulation, Sheldon Adelson, Sports, Station Casinos, Taxes, Tilman Fertitta, Tropicana Entertainment, Wall Street | 1 Comment

The Deal of the Year

Posted on December 19, 2017 by David McKee

Ever-ravenous Penn National Gaming gulped down Pinnacle Entertainment over the weekend, paying $2.8 billion for a collection of top-quality gaming assets. Among other benefits, the deal strengthens Penn’s position in its home state, as it gets The Meadows racino, doubling … Continue reading →

Posted in Ameristar, Boyd Gaming, Colorado, Economy, Eldorado Resorts, GLPI, International, Iowa, Louisiana, Massachusetts, Missouri, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Station Casinos, Taxes, Tourism, Transportation, Wall Street | 3 Comments

Indiana, Missouri see happy days; Don’t count on Millennials

Posted on December 11, 2017 by David McKee

It looks like Penn National Gaming is picking a good time to acquire Pinnacle Entertainment, to judge by the healthy performance of the Missouri and Indiana markets (though it must be kicking itself for having missed the loophole that allowed … Continue reading →

Posted in Affinity Gaming, Ameristar, Atlantic City, Boyd Gaming, California, Economy, Eldorado Resorts, Florida, Full House Resorts, Harrah's, Illinois, Indiana, Louisiana, Marketing, Maryland, Missouri, North Las Vegas, Penn National, Pinnacle Entertainment, Tourism, Tropicana Entertainment | Comments Off

Malaise in Illinois, optimism in Ohio; Frissora’s smooth move

Posted on December 8, 2017 by David McKee

Illinois casinos have never recovered from the double-whammy of the Great Recession and a smoking band, and now they have to contend with slot routes. Last month they were down 2.5% statewide($108.5 million). Taking a closer look, two riverboats were … Continue reading →

Posted in Boyd Gaming, Dan Gilbert, Eldorado Resorts, GLPI, Hard Rock International, Harrah's, Illinois, Indiana, International, MGM Mirage, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Racinos, Sheldon Adelson | Comments Off