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- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
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Category Archives: Health
MGM dumps Springfield; Gaming recovery a proven fact
MGM Resorts International isn’t quitting Springfield but it’s taking a bath on its eponymous casino in order to reduce its exposure to the (disappointing) market. MGM spent $960 million on the resort, which has never performed up to expectations, and … Continue reading
Posted in AGA, Atlantic City, BetMGM, Caesars Entertainment, Cordish Co., Dining, DraftKings, Economy, Entertainment, FanDuel, Golden Gaming, Hard Rock International, Health, Internet gambling, Massachusetts, MGM Resorts International, Ocean Resort, Pennsylvania, Real Estate, Regulation, Resort fees, South Dakota, Sports, Sports betting, Tennessee, The Strip, Wall Street, Wynn Resorts
1 Comment
Hail Caesars; Durango Station green-lit
“Solid … very encouraging … impressive momentum.” Those were some of the things JP Morgan analyst Joseph Greff had to say about Caesars Entertainment‘s 1Q21 numbers. Cash flow of $548 million well exceed Greff’s expected $429 million, to say nothing … Continue reading
Posted in Atlantic City, Boulder Strip, Caesars Entertainment, Card rooms, Conventions, Cosmopolitan, Derek Stevens, Entertainment, Florida, Health, Indiana, International, Internet gambling, Las Vegas Sands, Louisiana, Michael Gaughan, New York, Politics, Reno, Seminole Tribe, Sports betting, Station Casinos, The Strip, Tourism, Wall Street, William Hill, Wynn Resorts
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Palms brings $650 million; Murphy flirts with smoking ban
Earlier today, Station Casinos finally confirmed the worst-kept secret in town. It has sold the Palms Casino Resort to a subsidiary of the San Manuel Band of Mission Indians in an all-cash, $650 million transaction. Thus closes a fairly disastrous … Continue reading
Posted in Atlantic City, California, Churchill Downs, Colorado, Cordish Co., Culinary Union, Dining, DraftKings, Golden Nugget, Health, Horseracing, Internet gambling, Las Vegas Raiders, Maryland, MGM Resorts International, Mississippi, Nevada, New Jersey, Palms, Penn National, Real Estate, Station Casinos, Tribal, Wall Street
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Las Vegas rates rebound; Kentucky Derby brings out crowds
In another sign of a faster-than-expected Las Vegas comeback, room rates on the Strip for the May 23-29 period are reported to be flat with 2019. Midweek numbers are mildly down (-17%) but counterbalanced by higher weekend rates (+18%) than … Continue reading
Posted in Atlantic City, Australia, China, CityCenter, Conventions, Crown Resorts, Dining, Dubai, Economy, Entertainment, Genting, Golden Nugget, Hard Rock Hotel, Health, Horseracing, Illinois, International, Las Vegas Sands, MGM Resorts International, Palms, Pennsylvania, Plaza, Real Estate, Regulation, Singapore, Sports, Sports betting, Station Casinos, Taxes, Tennessee, The Strip, Tribal, Virginia, Wynn Resorts
1 Comment
MGM “roaring back”; LV recovery accelerates
That’s what Credit Suisse analyst Ben Chaiken had to say about MGM Resorts International, citing strength in regional casinos, Las Vegas and sports betting (in that order). First-quarter cash flow exceeded 2019 levels, aided in part by “strong demand reaching … Continue reading
Posted in BetMGM, Charity, Colorado, Conventions, Dining, Economy, Entertainment, Health, history, Macau, Marijuana, Marketing, Maryland, Melco Resorts & Entertainment, MGM Resorts International, Movies, Nevada, Resorts World LV, Sports, Sports betting, Taxes, The Strip, Tourism, Transportation
2 Comments
Nevada recovery skips Strip; Boyd buoyant
Silver State casinos grossed $1 billion last month, with the Las Vegas Strip down 9% from 2019 to $501.5 million but locals-derived win vaulting 23%, leading to a 4% statewide increase on pre-Coronavirus numbers. The silver lining for the Strip … Continue reading
Posted in Architecture, Aristocrat, Atlantic City, Boulder Strip, Boyd Gaming, Caesars Entertainment, Canada, Churchill Downs, CityCenter, Cordish Co., Downtown, Hawaii, Health, Horseracing, Internet gambling, Kentucky, Lake Tahoe, Laughlin, Marketing, Massachusetts, MGM Resorts International, North Las Vegas, Penn National, Pennsylvania, Real Estate, Reno, Resorts World LV, Riviera, The Strip, Tourism, Tribal, Vietnam, Virginia, Wall Street, Wynn Resorts
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MGM hits paydirt; Palms sold?; Atlantic City underwhelms
Remember the Harmon Hotel? That Sir Norman Foster-designed tower that had to be amputated at half the intended height in 2008 because of incompetent construction? The only Las Vegas resort ever to be dismantled without having hosted a single guest? … Continue reading
Posted in Atlantic City, Boyd Gaming, Caesars Entertainment, Card rooms, Carl Icahn, Charity, Churchill Downs, CityCenter, Cosmopolitan, CQ Holdings, Detroit, Dining, Diversity, DraftKings, Entertainment, Florida, Full House Resorts, Golden Nugget, Hard Rock International, Health, Louisiana, LVCVA, MGM Resorts International, Michigan, Nevada, Ocean Resort, Palms, Penn National, Real Estate, Resort fees, Rush Street Gaming, Seminole Tribe, Sports, Sports betting, Station Casinos, Taxes, The Strip, Tribal, Wall Street, Washington State
1 Comment
Sands blitzes Texas; Las Vegas “swarming” with tourists; Oscars suck
Starting last week, Las Vegas Sands has been blanketing the Texas airwaves with a barrage of pro-casino ads. Faced with a loss of traction in the Lege, Sands is turning to the court of public opinion. Going in drag as … Continue reading
Posted in Arizona, Atlantic City, Boyd Gaming, Brothels, Caesars Entertainment, China, Cosmopolitan, Derek Stevens, Diversity, Downtown, Economy, Entertainment, Hawaii, Health, Las Vegas Sands, Louisiana, Macau, Movies, Nevada, New York, Ocean Resort, Oklahoma, Pahrump, Politics, Singapore, Texas, The Strip, Tilman Fertitta, Tourism, Tribal
2 Comments
Atlantic City disappoints, Internet gambling doesn’t
We’re going to have revise our prediction that Atlantic City would recover from Covid-19 faster than Las Vegas. Not at the rate things are going. March casino win was down 17% from 2019, coming in at $185 million. The Caesars … Continue reading
Posted in Alabama, Arizona, Atlantic City, Bally, Caesars Entertainment, China, DraftKings, FanDuel, Florida, Golden Nugget, Hard Rock International, Health, Internet gambling, Lotteries, MGM Resorts International, Mohegan Sun, New Jersey, New York, Ocean Resort, Pennsylvania, Philippines, Politics, Regulation, Seminole Tribe, Sports, Sports betting, Taxes, The Strip, Tribal, Wall Street, William Hill, Wynn Resorts
3 Comments
Missouri booms; Trop sale a steal of a deal
After a hiccup in Indiana, gaming revenues continued to march (pun unintended) upward from 2019 levels, which were pretty darn robust. Missouri gained 6% for a gross of $176.5 million, “one of the best months ever” according to JP Morgan … Continue reading
Posted in Arizona, Bally, Boyd Gaming, Caesars Entertainment, Century Casinos, DraftKings, FanDuel, GLPI, Health, Iowa, MGM Resorts International, Missouri, Penn National, Regulation, Rush Street Gaming, Sports, Sports betting, Tamares Group, The Strip, Tribal, Wall Street, William Hill, Wisconsin
3 Comments
Maryland has best month ever; Rio reopens
Even with capacity restrictions still in place at MGM National Harbor and Horseshoe Baltimore, the Free State enjoyed an epic March with casinos posting an all-time-record $169 million. On March 12, MGM and Horseshoe were bumped up to 50% capacity … Continue reading
Posted in Aristocrat, Caesars Entertainment, China, Churchill Downs, Connecticut, Cordish Co., Economy, Entertainment, Golden Gaming, Health, International, MGM Resorts International, Penn National, Politics, Shuffle Master, Sports betting, The Rio, West Virginia
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Caesars looking good; Amtrak covets Vegas; Bally’s underwhelms
Joseph Greff and his fellow JP Morgan analysts looked at recent trends in Las Vegas and any place not named Atlantic City, and liked what they saw, raising their price target on the stock five bucks to $101/share. Positive factors … Continue reading
Posted in Atlantic City, Bally, Caesars Entertainment, California, Cosmopolitan, Dining, Economy, Golden Nugget, Harry Reid, Health, Indiana, Marketing, MGM Resorts International, Michigan, Nevada, Oklahoma, Regulation, Reno, Station Casinos, Technology, Texas, The Rio, The Strip, Tourism, Transportation, Tribal, Wall Street, William Hill, World Series of Poker, Wynn Resorts
2 Comments
Virginia sports betting debuts large; ‘CSI’ back in Vegas
Virginia has now had two full months of sports betting and February handle was an impressive $266 million—not quite the explosion that Michigan was but still noteworthy as the second-biggest debut in U.S. history. Reacted PlayUSA analyst Dustin Gouker, “The … Continue reading
Posted in Dining, DraftKings, Entertainment, FanDuel, Full House Resorts, Genting, Health, Indiana, Law enforcement, Massachusetts, MGM Resorts International, Mississippi, North Carolina, Philippines, Problem gambling, Regulation, Resorts World LV, Rush Street Gaming, Sports, Sports betting, Taxes, Tribal, TV, Virgin Hotels, Virginia, William Hill, Wynn Resorts
2 Comments