Category Archives: FanDuel

Kings for a day; Covid’s casino kingpin

Posted on October 12, 2020 by David McKee

As you know, DraftKings is the current darling of Wall Street, its stock hovering around $50/share. Today Credit Suisse analyst Ben Chaiken initiated coverage with an “outperform” rating, putting a $76/share price target on the stock. He even went to … Continue reading →

Posted in Atlantic City, Australia, Brazil, Caesars Entertainment, California, China, Crown Resorts, DraftKings, Economy, FanDuel, Golden Nugget, Health, IGT, Illinois, Internet gambling, Japan, Lake Tahoe, Las Vegas Raiders, Las Vegas Sands, Law enforcement, Lotteries, Louisiana, Macau, Maverick Gaming, MGM Resorts International, Nebraska, Rush Street Gaming, Sports, Sports betting, Technology, The Strip, Tilman Fertitta, TV, Twin River, Wall Street, Wynn Resorts | 1 Comment

What ails Illinois?; Trump Plaza comes down

Posted on October 9, 2020 by David McKee

In a month that saw Ohio casino revenues grow 6% and Iowa almost 1% (to $119.5 million), Illinois casinos plummeted 27% to a measly $82 million. Even a sub-50% capacity restriction doesn’t begin to explain away the problem. Predictably, Rivers … Continue reading →

Posted in Arizona, Atlantic City, Boyd Gaming, Caesars Entertainment, Carl Icahn, Churchill Downs, Dining, DraftKings, FanDuel, Full House Resorts, Illinois, Indiana, Internet gambling, Iowa, MGM Resorts International, Michigan, Penn National, Politics, Rush Street Gaming, Spectacle Entertainment, Sports betting, Twin River | 1 Comment

Sports betting lifts Illinois; Packer in a pickle

Posted on October 7, 2020 by David McKee

It was sagacious of Illinois Gov. J.B. Pritzker (whose family used to co-own the Grand Victoria casino in Elgin) to temporarily suspend his state’s rule requiring in person registration for sports betting. Last month, the Land of Lincoln saw $140 … Continue reading →

Posted in Australia, Boyd Gaming, China, Churchill Downs, Colorado, Crown Resorts, DraftKings, FanDuel, Health, Illinois, Indiana, Law enforcement, Lawrence Ho, Melco Resorts & Entertainment, Regulation, Sports, Sports betting, The Crown 18, The Mob | 1 Comment

Maryland returns to normal; Caesars offloads assets

Posted on October 6, 2020 by David McKee

Pandemic? What pandemic? Maryland casino revenues were 1% above last September’s, indicating a resumption of normality, at least where gambling is concerned. The statewide gross was $149.5 million. That’s despite restrictions that include keeping the casino floor at 50% of … Continue reading →

Posted in Caesars Entertainment, Churchill Downs, Conventions, Cordish Co., Cretins, Delaware, Diversity, Economy, Election, FanDuel, Golden Gaming, Health, International, Internet gambling, Maryland, MGM Resorts International, Nebraska, Penn National, Pennsylvania, Racinos, Reno, Sports betting, Tribal, Virginia, West Virginia, William Hill | Comments Off on Maryland returns to normal; Caesars offloads assets

Kraft cashes out; Foxwoods is tops

Posted on October 6, 2020 by David McKee

Since its IPO, DraftKings stock has rocketed 264% upward. That has prompted some profit-taking on the part of both DraftKings itself and New England Patriots owner Robert Kraft. (Maybe Kraft’s windfall will soften the pain of last night’s drubbing at … Continue reading →

Posted in Arizona, Atlantic City, Caesars Entertainment, California, Conventions, Dining, DraftKings, FanDuel, Florida, Foxwoods, Hard Rock International, Las Vegas Raiders, Mohegan Sun, Ocean Resort, Reno, Sports, Sports betting, Tribal, TV, Wall Street | 1 Comment

Barstool buy buoys Penn Nat’l; MGM’s ad blitzkrieg

Posted on September 30, 2020 by David McKee

JP Morgan analysts upped their near- and long-term cash flow estimates for Penn National Gaming, based on regional trends and sports betting. “While we recognize PENN’s impressive share price outperformance, and many sell-side firms have thrown in the towel with … Continue reading →

Posted in Arizona, Boyd Gaming, Caesars Entertainment, Churchill Downs, Dining, Donald Trump, Downtown Grand, DraftKings, FanDuel, Hard Rock International, Health, Illinois, Internet gambling, Iowa, Marketing, MGM Resorts International, Michigan, Nevada, New Jersey, Penn National, Pennsylvania, Problem gambling, Sports, Sports betting, Station Casinos, Wall Street | 1 Comment

Hot water in Singapore; Pennsylvania sports books triumph

Posted on September 17, 2020 by David McKee

Faced with evidence of money laundering at Marina Bay Sands, CEO Sheldon Adelson is being proactive and hiring a local firm to investigate $1 billion in fund transfers from high rollers to third parties. It’s frankly in Adelson’s interest to … Continue reading →

Posted in Barstool Sports, Boyd Gaming, Caesars Entertainment, California, Card rooms, Dining, Downtown, DraftKings, Election, Environment, FanDuel, Greenwood Racing, Hooters, Internet gambling, Las Vegas Sands, Law enforcement, Maryland, Mohegan Sun, Money laundering, Penn National, Pennsylvania, Rush Street Gaming, Sheldon Adelson, Singapore, Sports, Sports betting, Terry Caudill, TV, William Hill | 1 Comment

Internet upstages Atlantic City; Detroit returns

Posted on September 15, 2020 by David McKee

Internet gambling stole the spotlight in Atlantic City last month, as it shot up 114% from August 2019. Even with the renewed option of brick-and-mortar play, New Jersey punters are clearly enamored of online action and it’s here to stay. … Continue reading →

Posted in Atlantic City, Barstool Sports, Caesars Entertainment, Detroit, DraftKings, FanDuel, GLPI, Golden Nugget, Hard Rock International, Health, Internet gambling, Marketing, MGM Resorts International, Mohegan Sun, Nevada, New Jersey, Ocean Resort, Penn National, Sports betting, The Strip | 1 Comment

Sands low on Vegas, Boyd upbeat, mixed signals from Station

Posted on September 15, 2020 by David McKee

Yesterday it was Las Vegas Sands‘ turn with JP Morgan gaming analysts and the company was full of surprises. Little of its commentary had to do with the Las Vegas Strip, about which it was “downbeat,” what with conventioneers and … Continue reading →

Posted in Boyd Gaming, China, Downtown, Economy, FanDuel, Hawaii, Health, International, Macau, Marketing, MGM Resorts International, Palms, Real Estate, Singapore, Sports betting, Station Casinos, Wall Street | 1 Comment

Caesars, MGM: Recovery slow but promising

Posted on September 14, 2020 by David McKee

Caesars Entertainment CEO Tom Reeg sat down with JP Morgan analysts to discuss the state of the Roman Empire. In a sentence, better than you might expect. On the Las Vegas Strip “weekend demand has been strong, but weekday demand … Continue reading →

Posted in Atlantic City, Baseball, Caesars Entertainment, China, Conventions, DraftKings, FanDuel, Florida, history, Horseracing, Illinois, Indiana, Internet gambling, Las Vegas Raiders, Louisiana, Macau, MGM Resorts International, New York, Penn National, Pennsylvania, Sports, Sports betting, The Crown 18, The Strip, TV, Wall Street | 3 Comments

They just won, baby

Posted on September 13, 2020 by David McKee

Congratulations to the NFL on a successful first Sunday, figuratively beating the odds against Coronavirus. Kudos to the sound designers who created the illusion of teeming crowds (complete with booing of the referees) in empty stadiums. A few quick takeaways: … Continue reading →

Posted in DraftKings, FanDuel, Las Vegas Raiders, Sports, Sports betting, TV | 1 Comment

Hiccups in Indiana, Missouri

Posted on September 11, 2020 by David McKee

Stimulus checks and pent-up demand only seem to go so far (except in Ohio). Gambling revenues in Indiana were down 10% last month, to $168 million. $5 million of that was table game play from Hoosier Park and Indiana Grand, … Continue reading →

Posted in Architecture, Boyd Gaming, Caesars Entertainment, Century Casinos, DraftKings, FanDuel, Full House Resorts, history, Illinois, Indiana, MGM Resorts International, Michigan, Missouri, Movies, Penn National, Rush Street Gaming, Sheldon Adelson, Singapore, Spectacle Entertainment, Sports betting, TV, Twin River | Comments Off on Hiccups in Indiana, Missouri

Derby Day a dud; Bank cools on Resorts World LV

Posted on September 8, 2020 by David McKee

Seems that Churchill Downs was blowing smoke up Wall Street‘s keister about how well a delayed, spectator-less Kentucky Derby would perform. Last weekend’s Run for the Roses saw betting handle of $79.5 million, down 49% from last year. All races … Continue reading →

Posted in Churchill Downs, Dining, Donald Trump, DraftKings, Economy, Election, FanDuel, G2E, Genting, Hard Rock International, Health, Horseracing, Kentucky, Las Vegas Raiders, LVCVA, Macau, MGM Resorts International, Nevada, New York, Penn National, Rush Street Gaming, Security, Sheldon Adelson, Singapore, Sports, Sports betting, The Rio, The Strip, Tourism, TV, Wall Street | 1 Comment

Baby steps in Massachusetts, leaps and bounds in Pennsylvania

Posted on August 18, 2020 by David McKee

Given that Plainridge Park didn’t reopen until July 8, and Encore Boston Harbor and MGM Springfield not for two more days after that, it’s wholly understandable that Massachusetts gambling revenue was down 44% last month. JP Morgan analyst Joseph Greff … Continue reading →

Posted in Arizona, Boyd Gaming, Caesars Entertainment, DraftKings, El Cortez, FanDuel, Greenwood Racing, Internet gambling, Law enforcement, Massachusetts, Mohegan Sun, New Jersey, Penn National, Pennsylvania, Rush Street Gaming, Sports betting, Tribal, Wall Street, Westgate LV, Wynn Resorts | 1 Comment

Covid tourism at Bally’s; College football conundrum

Posted on August 18, 2020 by David McKee

When Bally’s Las Vegas announced that the Real Bodies exhibit would be adding “Covid-19 Content” we admittedly feared the worst: corpses of Coronavirus victims on display. While cashing in on Covid-19 is in questionable taste, Real Bodies seems to be … Continue reading →

Posted in Caesars Entertainment, China, Dining, Diversity, Economy, Election, FanDuel, Health, Las Vegas Raiders, Massachusetts, MGM Resorts International, Nevada, Regulation, Slot routes, Sports, Sports betting, The Strip, Transportation, Westgate LV, William Hill | 3 Comments

The big enchilada

Posted on August 13, 2020 by David McKee

“The Biggest Gaming Opportunity Since Riverboats in the Early ’90s.” That’s how JP Morgan gaming analyst Joseph Greff, a man not given to hype, characterized i-gaming and sports betting today. He described them as “as an emerging and exciting area … Continue reading →

Posted in Caesars Entertainment, California, Colorado, Cosmopolitan, DraftKings, FanDuel, Golden Nugget, Illinois, Indiana, Internet gambling, Iowa, Isle of Capri, Las Vegas Sands, MGM Resorts International, Michigan, MTR Gaming, Palms, Penn National, Regulation, Rush Street Gaming, Silverton, Sports betting, The Strip, Tropicana Entertainment, Wall Street, William Hill | 2 Comments

Indiana, Missouri, Ohio rebound, Illinois not so much

Posted on August 11, 2020 by David McKee

It was back to business as almost normal in Indiana last month. The Hoosier State was only 5.5% 0ff its July 2019 pace, grossing $171 million. (They’ve been open since June 15.) The relative novelty of table games—$5 million—at Indiana … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Century Casinos, Churchill Downs, Dan Gilbert, DraftKings, FanDuel, GLPI, Hard Rock International, Illinois, Indiana, MGM Resorts International, Missouri, Ohio, Penn National, Sports betting | 1 Comment

New hope for Station; Raider Nation exiled

Posted on August 5, 2020 by David McKee

Station Casinos reported second-quarter results yesterday and JP Morgan analyst Joseph Greff came away “encouraged” and “impressed.” He wrote of “less bad results in April and May and much better positive [cash flow] generation in June.” How so? In its … Continue reading →

Posted in China, Economy, FanDuel, Golden Gaming, Health, IGT, Las Vegas Sands, Macau, Massachusetts, MGM Resorts International, Penn National, Politics, Sports, Sports betting, Station Casinos, Terry Caudill, The Strip, Tourism, Wall Street, Wynn Resorts | 1 Comment

Churchill Downs, Boyd impress analysts

Posted on July 30, 2020 by David McKee

Churchill Downs‘ second quarter was “solid” (Daniel Politzer) to say the least. Revenue shot past Wall Street‘s consensus expectation of $132 million to ring the bell at $185 million. Credit goes to a 27% increase in Internet-gaming revenue, including $100 … Continue reading →

Posted in Boyd Gaming, Churchill Downs, Downtown, Economy, FanDuel, Horseracing, Illinois, Internet gambling, Kentucky, Slot routes, Sports betting | Comments Off on Churchill Downs, Boyd impress analysts

Up in Louisiana, down in Pennsylvania; Close Las Vegas?

Posted on July 17, 2020 by David McKee

It’s an extraordinary circumstance when a 19.5% drop in gambling revenue is a cause for celebration. But it happened in Louisiana, suggesting a stronger-than-expected comeback from the casino shutdown. Given that there was one fewer weekend day last month, the … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Donald Trump, Economy, Eldorado Resorts, FanDuel, Golden Nugget, Health, Internet gambling, Louisiana, Mohegan Sun, Nevada, Penn National, Pennsylvania, Rush Street Gaming, Sports betting, Tribal | Comments Off on Up in Louisiana, down in Pennsylvania; Close Las Vegas?