This just in …
Eldorado Resorts has pulled out of a planned sale of Isle of Capri Lake Charles to tribally owned Kicks Entertainment. At least one analyst, JP Morgan‘s Daniel Politzer, sees this as a good thing. For starters, Eldorado pockets Kicks’ $20 million deposit. “While investors may initially view this news negatively, we see a silver lining here as it enables ERI to either (1) take advantage of the favorable/active M&A environment to obtain a far better transaction multiple for the property …. or (2) fully integrate the property into its existing portfolio.” He added, “we estimate ~$10m of EBITDA upside if the property were run similarly to ERI’s other properties.” However, as Isle Lake Charles is the weakest property in the market, its appeal for Eldorado may be negligible. Unfortunately for the company, two of the more aggressive hunters and seekers of acquisitions, Pinnacle Entertainment and Boyd Gaming, already have strong Lake Charles footholds. But Penn National Gaming does not and Caesars Entertainment might want to get back into the market, one that Gary Loveman foolishly forfeited in favor of added exposure in Biloxi. New CEO Mark Frissora certainly has an itch to spend, judging by
wagering was down 4.5%, won 3.5% less, for a $48.5 million gross. Borgata made 9% less, for a total of $55 million. Of course, what constitutes a bad month for Borgata would considered cause for celebration anywhere on the Boardwalk. Despite a slight uptick in slot winnings, Borgata was punished at the tables, winning 28% less on 14% less wagering. Caesars Interactive has fallen into last place in terms of Web market share, still dominated by Golden Nugget (30%). Resorts Digital/PokerStars continues to climb into contention, nipping the Tropicana Atlantic City by a tenth of a percentage point. With two months to go in the year, ‘Net betting in New Jersey has reached its best-ever benchmark.
2% (to $21 million). Neighbor Hollywood St. Louis fell 8%, to $18 million. Tropicana Entertainment defied the odds at Lumiere Place (pictured), up 6% to $11 million. Over in Kansas City, Pinnacle had the worst of it, with Ameristar Kansas City down 6.5%, to $18 million, while Isle of Capri Kansas City stumbled 5% to $6 million. Argosy Riverside was up 2.5% to $13 million, while Harrah’s North Kansas City rose 4% to $14.5 million.
as a hub of manufacturing and economic development — the “Tesla effect” created by Tesla, Switch, Apple, Google, etc. — one that Union Gaming Research analyst John DeCree thinks could last one or even two decades. And if discretionary income is up in Reno, that’s a tide that’s going to lift all boats, including casinos — we’re already seeing it. “In three to five years [if we are] still in a high-growth cycle and if things keep going as they are, 10 to 20 years is something that could be feasible. Let’s hope the global and U.S. economy kind of steer the course, and I think Reno will keep leading away.” DeCree told Nevada Newsmakers.
airport lounges. From this bonanza for operators and manufacturers, legislators hope to realize $230 million in near-term revenue and $100 million a year thereafter. As state Rep. Steve McCarter (D) 
lobbyist) while existing casino operators would have to get into a scrum for the remaining nine licenses. None of the satellites could be built within 25 miles of an extant casino (Presque Isle excepted), which might be good for cities like Johnstown, which were excluded when the first round of casino licenses were handed out. The special arrangement with Eldorado is meant to palliate the House’s displeasure with the Erie County Gaming Revenue Authority, which a previous bill would have dismantled.
Parliamentary lone wolf and anti-gambling crusader Andrew Wilkie released a whistleblower video, which will prompt an investigation by Australian regulators. “On the recording, unidentified people whose faces were heavily pixelated accuse Crown’s casino in Melbourne of fixing poker machines by removing built-in controls designed to regulate gambling rates,” reports Reuters.
Mahoning Valley (pictured, $9 million) shot up 14%. Slot/win/day ranged from $196 in Columbus to $300 (150% of industry average) in Austintown. By contrast, Dan Gilbert‘s “Jack” brand had mixed results, up 3% to $16 million in Cincinnati, but down 3% to $9 million at Thistledown and 2% down to $17 million in Cleveland. Is it just me or should that strategically placed casino be doing better?
billion completion cost, Clark County Commissioner Chris Giunchigliani thinks Witkoff will continue to position F-blue as a high-end property. Never mind its proximity to the Las Vegas Convention Center. Where Witkoff will find well-heeled customers to fill 2,800 hotel rooms and 1,200 condo units (an insane idea) on a distressed part of the Strip is a question that is simply begged. And if Witkoff’s still planning on selling condos, that’s cause for despair. “The new owners definitely plan on keeping it as a casino and high-end hotel. They did their due diligence, and (the building is) very structurally sound,” said Chris G.
trepidation. Perhaps it is the vampiric rise of slot routes in Illinois, but the northern tier of Indiana casinos were almost all down last month. The lone gainer ($33 million) was Horseshoe Hammond, up 1%. Ameristar East Chicago ($17 million) took a 3.5% hit while Blue Chip was off a percentage point, at $13 million, while the Majestic Star boats were down 1% and 2% respectively.
have a visible paddle wheel, even if aforesaid barge is “not going anywhere.” Fertitta also ripped the state’s per-casino limit on slot machines and $100,000/year barge inspection, which he reckons have cost him $10 million. Taxation of free play offered by private-sector casinos (but not tribal ones) was another burr under Fertitta’s saddle.
yet-undisclosed joint venture between Caesars Entertainment and MGM Resorts International. He even gave Glenn Straub a mulligan, including Revel in 
for L’Auberge Baton Rouge and its two rivals, they have until June 18 to get ready, plenty of time to prepare outdoor smoking venues, possible even ones that have slots. (A task force commissioned by Gov. Bobby Jindal [R] is studying the feasibility.) What they shouldn’t do is follow the example of Harrah’s New Orleans, which wasted all the time leading up to New Orleans‘ smoking ban whining about it, then had some rough months while it suddenly adjusted to life after smoking. Deutsche Bank analyst Carlo Santarelli is already downgrading 
spread pretty evenly throughout the market, except at Jumer’s Casino Rock Island, which slipped 6%, to $6 million, and Boyd Gaming‘s Par-A-Dice, down 7% to $6 million. Gaming & Leisure Properties‘ Casino Queen dipped 2.5% to $8.5 million. All the Penn National Gaming-managed riverboats were shipshape: Argosy Belle was flat, at $4 million, Empress Joliet gained a percentage point to finish at $10 million and Hollywood Aurora leapt 3% to $9.5 million.