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Category Archives: Eldorado Resorts
Eldorado’s clearance sale
Eldorado Resorts continues to slim down as it prepares for a takeover of Caesars Entertainment. Assuming the deal as a fait accompli, it is ditching Isle of Capri Kansas City in favor of Harrah’s North Kansas City. It is also … Continue reading
Posted in Arkansas, Caesars Entertainment, Carl Icahn, Eldorado Resorts, International, Japan, Mississippi, Missouri, Sports betting, Technology, Tribal, Twin River, William Hill
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Case Bets
Although we’ve learned to take Moulin Rouge revival projects with a shakerful of salt, the latest round of interest is drawing some serious players, such as the Southern Nevada Regional Housing Authority. Its piquant plan would mix affordable housing, dining and—yes—a … Continue reading
Ohio prospers, others don’t; Labor trouble at Eldorado
Maryland continues to show signs of casino saturation. Revenue ($143 million) was down 4% last month. Not even MGM National Harbor ($57 million) was immune, off 4%. Slots were up 10% but table games got walloped, down 19%. Still, MGM … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Carl Icahn, Churchill Downs, Cordish Co., Culinary Union, Dan Gilbert, Eldorado Resorts, Election, Florida, Full House Resorts, Indiana, Isle of Capri, Maryland, MGM Resorts International, Ohio, Penn National, Spectacle Entertainment, Station Casinos, Tropicana Entertainment, Unite-Here, West Virginia
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Cosmo in play; Wynn looking robust
Always a step ahead of the mainstream media, VitalVegas reports that The Cosmopolitan of Las Vegas has been sold. No details are available and the story hasn’t made the wire services, but that’s not going to stop us from speculating. … Continue reading
Posted in Architecture, Churchill Downs, CityCenter, Cosmopolitan, Dan Lee, Dining, Eldorado Resorts, Macau, Massachusetts, MGM Resorts International, Penn National, Phil Ruffin, Resort fees, The Strip, Tilman Fertitta, Wall Street, Wynn Resorts
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Rivers Casino’s threefold secret
It can be summed precisely as follows: location, location, location. Not only is Rivers Casino Des Plaines proximate to both Chicago and O’Hare International Airport, it sits at the nexus of two interstate highways, literally within a stone’s throw of … Continue reading
Posted in Architecture, Boyd Gaming, Caesars Entertainment, Churchill Downs, Economy, Eldorado Resorts, GLPI, Golden Gaming, Harrah's, Illinois, Kazuo Okada, Macau, Penn National, Philippines, Rush Street Gaming, Singapore, Station Casinos, Steve Wynn
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Eldorado backpedals; Casinos for Nebraska in 2020?
While the consummation of the Eldorado Resorts/Caesars Entertainment marriage has yet to occur, already Eldorado CEO Tom Reeg is walking back some of his prenuptial promises. “I think that there’s more Strip exposure than we would need to accomplish our goals … Continue reading
Caesars: Buyers remorse; Cubbies want to lay some action
In a move that will surprise no one, Caesars Entertainment is reportedly ready to put Bally’s Atlantic City on the auction block and—failing that—to close it outright. It dodged a bullet when Revel opened (and closed) but luck might not … Continue reading
Posted in Atlantic City, Baseball, Boyd Gaming, Caesars Entertainment, Carl Icahn, Eldorado Resorts, Illinois, Macau, Pennsylvania, Phil Ruffin, Politics, Rush Street Gaming, Sports betting, Tilman Fertitta, Wall Street
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Caesars is dead, long live Caesars
After much flirtation, Eldorado Resorts has consummated its courtship of Caesars Entertainment. In a deal that values the latter at $18 billion (or $12.75/share), Eldorado will buy Caesars for $8.6 billion in cash, plus the assumption of debt. Two previous … Continue reading
Station diversifies; Caesars retrenches
Scott Roeben of VitalVegas continues to beat the mainstream media to the breaking stories in Sin City. His latest scoop has Apex nightclub at the Palms seeing a coup d’etat. Clique Hospitality is gone and now Station Casinos will try … Continue reading
Eldorado’s clearance sale; Atlantic City takes the lead
Eldorado Resorts may be getting closer to a Caesars Entertainment acquisition (accounts differ) but it’s already clearing the decks for a big expenditure. It just offloaded three casinos to—irony alert—Caesars’ Vici Properties for $385 million. The trio is Mountaineer Casino … Continue reading
Ho renews ‘Dancing Water’; Florida hits high-water mark
Succeeding where Cirque du Soleil failed, Melco Resorts & Entertainment has extended the contract of aquatic spectacle House of Dancing Water. The production show, which premiered in 2010, was originally set to run 10 years but will last for an … Continue reading
Big month for Hard Rock Atlantic City; Sunset Station unionizes
Atlantic City‘s two heaviest hitters had a not-so-merry month of May. Borgata fell 15%, to $52 million, and Tropicana Atlantic City tumbled 18%, landing at $25 million and ceding second place for the first time to Hard Rock Atlantic City … Continue reading
Posted in Atlantic City, Boyd Gaming, Caesars Entertainment, Churchill Downs, Culinary Union, Detroit, Eldorado Resorts, Greenwood Racing, Hard Rock International, MGM Resorts International, Mohegan Sun, New Jersey, Ocean Resort, Penn National, Pennsylvania, Rush Street Gaming, Sports betting, Station Casinos, Tribal
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The wrath of Icahn
Investment bankers BidaskClub aren’t buying Caesars Entertainment. Literally. In an almost-unheard-of development in gaming, Bidask put a “sell” recommendation on low-priced CZR shares. Perhaps this reflects caution over Caesars’ still-massive debt overhang or of the additional debt that would be … Continue reading
Posted in Arizona, Caesars Entertainment, Carl Icahn, CityCenter, Cosmopolitan, DFS, Eldorado Resorts, Illinois, Lotteries, Mandalay Bay Massacre, MGM Resorts International, Regulation, Resort fees, Sports betting, The Strip, Tilman Fertitta, Tribal, Wall Street, West Virginia
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Merry month of May in Ohio, Missouri; MGM debuts “Hunger Games”
Casino revenues were booming last month in Ohio, leaping 10.5% to $169.5 million. People flocked to the racinos, which vaulted 13%. Hollywood Columbus gained 2% to $19 million and Hollywood Toledo inched 1% to almost $18 million. As for the … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Dan Gilbert, Eldorado Resorts, MGM Resorts International, Missouri, Movies, Ohio, Penn National, The Strip
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Wire Act reversal reversed; China scare for Las Vegas
A federal judge dealt a major defeat to the Justice Department in its efforts to reinterpret the Federal Wire Act as a ban on Internet gambling. Nope, only sports betting ruled Judge Paul Barbadoro. The ruling is a boon to … Continue reading
Posted in Atlantic City, Caesars Entertainment, Economy, Eldorado Resorts, Entertainment, Florida, Hard Rock International, Indiana, International, Internet gambling, Law enforcement, Lotteries, Marketing, Mohegan Sun, Ocean Resort, Palms, Pennsylvania, Regulation, Seminole Tribe, Sheldon Adelson, Singapore, Sports betting, Station Casinos, Tourism, Tribal, Unite-Here, Wall Street, World Series of Poker
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Caesars deal takes shape; Carlino out at Penn
We hope Anthony Rodio isn’t getting too comfy in his CEO chair over at Caesars Entertainment. News reports have been heating up about at Caesars takeover, with Eldorado Resorts continuing to have the inside track and reportedly planning to replace … Continue reading
Honeymoon in Illinois; Contraction in Maryland
Illinois lawmakers think casino gambling is a bottomless well of revenue, as witnessed by their recent approval of five new gambling houses and three racinos (just for starters). However, last month’s actual revenues were less than auspicatory. At $118 million, … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Cordish Co., Eldorado Resorts, GLPI, Illinois, Maryland, MGM Resorts International, Penn National, Rush Street Gaming, West Virginia
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Runaway greed in Illinois
Existing operators in Illinois are picking themselves up off the floor following an exponential expansion of casino gambling in the Land of Lincoln, achieved in the waning hours of the legislative session. Caesars Entertainment, Penn National Gaming, Boyd Gaming, Eldorado … Continue reading
Anxiety over Japan; Profit squeeze in Atlantic City
Think Japan‘s going to have casinos open in time for the 2025 World Expo? Think again. Shinzo Abe‘s ruling Liberal Democratic Party is postponing the regulations governing casino bidding until after next year’s elections. That’s bad news for Osaka, in particular, … Continue reading
Soggy month in Louisiana; IGT on firm ground
Gaming revenues were down 5.5% last month in the Bayou State, particularly unimpressive when you consider that they fell 8% in the same month last year. The statewide gross was $199.5 million. The Shreveport/Bossier City market suffered least, down 3%, … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Eldorado Resorts, IGT, International, Lotteries, Louisiana, Penn National, Sports betting, Taxes, Wall Street, Wynn Resorts
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