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- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
- David McKee on Sibella scandal spreads; Supremes forestall Seminoles
- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
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Category Archives: Greenwood Racing
Lion attempts to devour Caesar; Louisiana casinos to come ashore?
That proposed takeover of Vici Properties by MGM Growth Properties looks stranger by the day. Since it would be a transaction between two landlords, it would not require Nevada regulatory approval. But it would not, contrary to its initial appearance, … Continue reading
Posted in Atlantic City, Cordish Co., Genting, Greenwood Racing, Harrah's, Illinois, Indiana, Iowa, Kentucky, Lake Tahoe, Louisiana, MGM Mirage, Mississippi, Missouri, New York, Pennsylvania, Politics, Regulation, Reno, Sports, Station Casinos, Taxes, Wall Street
1 Comment
Carnage in Pennsylvania; Fortune Cup takes on Sigma Derby
*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
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‘Tis the season for buying; Putin drives out Ho
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
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Rethinking riverboats in Louisiana; Santa hearts Boyd; High and dry
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
Atlantic City: There’s life after Trump; Bluhm dominates in Pennsylvania
Finally liberated from year/year comparisons that included the dying Trump Taj Mahal, casinos in Atlantic City experienced 3% revenue growth last month. Internet gambling did even better, leaping 20%. For the lifetime of ‘Net betting in New Jersey, this brings … Continue reading
Posted in Animals, Atlantic City, Carl Icahn, Delaware, Greenwood Racing, Harrah's, Internet gambling, MGM Mirage, Mohegan Sun, Movies, Neil Bluhm, Nevada, Pennsylvania, PokerStars, Politics, Racinos, Sheldon Adelson, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts
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Stable in Atlantic City; Saturated in Pennsylvania
Casino business in Atlantic City was flat last month (not bad with one less weekend day), with the surviving casinos grossing $186 million. Internet revenue shot up 23.5% to $20.5 million. Slots were up 1% but tables, where wagering was down … Continue reading
Posted in Atlantic City, Dan Gilbert, Detroit, Eldorado Resorts, Glenn Straub, Greenwood Racing, Harrah's, Internet gambling, Massachusetts, MGM Mirage, Mohegan Sun, Neil Bluhm, Penn National, Pennsylvania, Pinnacle Entertainment, PokerStars, Racinos, Sheldon Adelson, Tilman Fertitta, Tropicana Entertainment
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MGM rebounds; Harvey victims have mystery casino benefactor
Commercials practically begging people to patronize the Las Vegas Strip after the Mandalay Bay massacre turn out to have been needless. The company most affected, MGM Resorts International, reports that hotel bookings are “almost back to normal.” “I’m happy to … Continue reading
Posted in Baseball, Charity, Cordish Co., Cosmopolitan, Galaxy Entertainment, Greenwood Racing, Harrah's, Macau, Mandalay Bay Massacre, MGM Mirage, Neil Bluhm, Penn National, Pennsylvania, Politics, Steve Wynn, Texas, The Strip, Wall Street
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Strip waxes, LV locals wane; Caesars sticks it to you
Gaming revenues inched up 3% in Nevada last August, while the Las Vegas Strip was up 5%, to $568 million. JP Morgan analyst Joseph Greff wrote that the latter implied “strong 3Q for MGM table games given WYNN and LVS’ combined 3Q … Continue reading
Posted in Boulder Strip, Downtown, Economy, Entertainment, Genting, Greenwood Racing, Harrah's, International, Internet gambling, Lake Tahoe, Laughlin, Mesquite, MGM Mirage, Nevada, North Las Vegas, Pennsylvania, Regulation, Reno, Sheldon Adelson, Steve Wynn, The Strip, Wall Street
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Trump goes to bat for Adelson; Connecticut tribes on the rise
Japanese Prime Minister Shinzo Abe had never heard of Las Vegas Sands or MGM Resorts International before Donald Trump told him about them last February. Either that or Abe was politely feigning ignorance. (As long as was using his political office … Continue reading
Posted in Donald Trump, Foxwoods, Greenwood Racing, Japan, MGM Mirage, Mohegan Sun, Pennsylvania, Politics, Regulation, Sheldon Adelson, Singapore, Taxes, Wall Street
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Fertitta scourges Pelican State rules; Macao biz booms for Wynn
“Let’s not kid ourselves: that barge is concrete. It’s not going anywhere.” With those words, Tilman Fertitta launched one of several broadsides at absurd Louisiana regulations on casinos. Not only do Pelican State casinos still have to sit in water, … Continue reading
Posted in Boyd Gaming, Churchill Downs, Eldorado Resorts, Entertainment, Environment, Foxwoods, GLPI, Greenwood Racing, Harrah's, Internet gambling, Iowa, Isle of Capri, Japan, Louisiana, Macau, MGM Mirage, Pennsylvania, Pinnacle Entertainment, Politics, Problem gambling, Racinos, Regulation, Sheldon Adelson, Steve Wynn, Tilman Fertitta, Tropicana Entertainment, Warner Gaming
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Case Bets: Cosmo, Penn, California, Caesars, Boyd, etc.
It’s reinvention time at The Cosmopolitan of Las Vegas, where management is investing $100 million-plus into upgrades of most of its rooms. If you don’t constantly reinvest in your resort project, you end up with Imperial Palace, er, Linq. (Given … Continue reading
Cuomo’s experiment disappoints; Caesars sweet on Japan
Whatever marketing studies drove the conclusion that upper New York State was ripe for gambling expansion have proven to be have been seriously off the mark. Gov. Andrew Cuomo‘s three-casino addition to upstate gaming options are disappointing Albany with their … Continue reading
Posted in Cordish Co., Genting, Greenwood Racing, Harrah's, Japan, Marketing, MGM Mirage, Neil Bluhm, New York, Pennsylvania, Regulation, Sheldon Adelson, Taxes, Technology, The Strip, Tourism, TV, Vietnam
1 Comment
Dover downer; Connecticut rewrites the rules
Expect another request for tax cuts from Dover Downs after the Delaware racino posted a 96% decrease in second-quarter profits. (Slots are taxed at a usurious 43%.) While Dover Downs made $32,000, it suffered a 7% decline in casino revenues. … Continue reading
Posted in Atlantic City, Cordish Co., Delaware, Foxwoods, GameCO, Greenwood Racing, Harrah's, International, Marketing, MGM Mirage, Mohegan Sun, Pennsylvania, Politics, Racinos, Regulation, Taxes, Technology, Tribal
1 Comment
Starting over at the Taj
“I think that we were trying to copy what was happening in Vegas. Everything out there had a theme, and I think that is what we were trying to do.” So says former Trump Taj Mahal executive Steve Norton about the … Continue reading
Okada in the cross-hairs; Oregon poker rooms (sorta) saved
Could it be? Dare we hope? Gamey gaming mogul Kazuo Okada is in danger of losing his Nevada license. (Steve Wynn is quietly celebrating somewhere.) Already he’s been suspended by his own company, Universal Entertainment Corp., and his dreams of … Continue reading
Posted in Cordish Co., Greenwood Racing, Iowa, Isle of Capri, Japan, Kazuo Okada, Missouri, Oregon, Pennsylvania, Politics, Regulation, Sports, Steve Wynn, Texas, Westgate LV
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Tables buoy Pennsylvania; Oregon poker rooms in peril
It was table games to the rescue in Pennsylvania, in a record-setting performance, which saw casino winnings up 10% last month at the tables, while slots were down 1.5%. State leader was, as usual, Parx Casino, grossing $49 million for … Continue reading
Posted in Eldorado Resorts, GLPI, Greenwood Racing, Harrah's, history, Isle of Capri, MGM Mirage, Mohegan Sun, Neil Bluhm, Oregon, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Sheldon Adelson, Transportation
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Wall Street hearts Boyd; Disunity in Pennsylvania
Boyd Gaming, the red-headed stepchild of the casino industry, got some love from Wall Street yesterday. JP Morgan analyst Joseph Greff wrote that “the improving free cash flow in the BYD story is not reflected in the current stock price, … Continue reading
Posted in Boulder Strip, Boyd Gaming, Cannery Casino Resorts, Greenwood Racing, Louisiana, North Las Vegas, Penn National, Pennsylvania, Pinnacle Entertainment, Slot routes, Wall Street
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Atlantic City suffers February hiccup; Caesars K.O.’d in Korea
All good things must end and, in the case of Atlantic City, a pretty steady comeback hit a pothole in December, with business down 2%. Even Borgata ($58 million) was down a percentage point. Citywide, slot revenue was actually up … Continue reading
Posted in Atlantic City, Carl Icahn, Dan Gilbert, Detroit, Glenn Straub, Golden Gaming, Greenwood Racing, Hard Rock International, Harrah's, Internet gambling, Isle of Capri, Macau, Maryland, MGM Mirage, Mohegan Sun, Pennsylvania, PokerStars, Revel, Sheldon Adelson, South Korea, Tropicana Entertainment
1 Comment
Running the tables in Pennsylvania; MGM woos Georgia (again)
Due to Pennsylvania‘s quirky habit of releasing slot and table game revenue numbers in staggered fashion, we don’t often comment on Keystone State gambling revenues. Fortunately, the Center for Gaming Research at UNLV consolidates the information into one handy-dandy report. … Continue reading
Posted in Architecture, Aristocrat, Australia, Cosmopolitan, Economy, Eldorado Resorts, Georgia, GLPI, Greenwood Racing, Harrah's, Hooters, Isle of Capri, Macau, Maryland, MGM Mirage, Mohegan Sun, Neil Bluhm, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Racinos, Sheldon Adelson, Slot routes, SLS Las Vegas, Taxes, The Strip, Tourism, Transportation
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Pennsylvania lawmakers screw the pooch; Adelson’s way or the highway
Pennsylvania communities are scrambling to reach voluntary revenue-sharing accords with the casinos they host after the Legislature left the issue in limbo. Rather than address the host-community fee on its own, the House of Representatives tacked on approval of Internet … Continue reading
Posted in Architecture, Environment, GLPI, Golden Gaming, Greenwood Racing, Harrah's, Internet gambling, Maryland, Massachusetts, Penn National, Pennsylvania, Politics, Regulation, Sheldon Adelson, Slot routes, Steve Wynn, Taxes, Technology
Comments Off on Pennsylvania lawmakers screw the pooch; Adelson’s way or the highway