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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: Horseracing
Caesars, MGM: Recovery slow but promising
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
Derby Day a dud; Bank cools on Resorts World LV
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
Quote of the Day
“Yes, it’s sad to see the decline of horse racing. The Sport of Kings has failed to keep up with the times, and even worse, has often been accused of abusing the very animals it depends upon for survival. If … Continue reading
Posted in Animals, Horseracing
2 Comments
Cuomo abandons N.Y. casinos; Legal brawls in Atlantic City
New York Gov. Andrew Cuomo (D) has turned his back on the casino industry in no uncertain terms. The Empire State lags the entire nation in casino reopenings and Cuomo shows no inclination to soften his hard line. As for … Continue reading
Mega-Jottings for a Monday
Churchill Downs got its second-worst-case scenario for the Kentucky Derby: The September 5 race will have to be held without spectators, a major economic blow to the Louisville area. At least the race will be run and undoubtedly garner much … Continue reading
Posted in Arizona, Atlantic City, Churchill Downs, Derek Stevens, Downtown, Economy, Entertainment, Environment, GLPI, Health, Horseracing, Internet gambling, Kentucky, Louisiana, Macau, MGM Resorts International, New Mexico, Penn National, Reno, Sigma Derby, Sports betting, The Strip, Tribal, Virgin Hotels
1 Comment
MGM: The lion mews; AGA: Betrayal by Miller
Second-quarter results for MGM Resorts International are in and the company got hammered pretty badly. Las Vegas Strip revenues fell 90% to $151 million, regional operations dropped 90% to $89 million and Macao grossed a feeble $33 million, down 95%. … Continue reading
Posted in AGA, Boyd Gaming, Caesars Entertainment, Churchill Downs, CityCenter, Conventions, Cordish Co., Culinary Union, Downtown, Economy, Golden Nugget, Health, Horseracing, Illinois, Macau, Massachusetts, MGM Resorts International, Nevada, Ohio, Penn National, Pennsylvania, Racinos, Real Estate, Sahara, Sports betting, The Strip, Tribal, Wall Street
1 Comment
Churchill Downs, Boyd impress analysts
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
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Upbeat at Churchill Downs
JP Morgan analysts met virtually with Churchill Downs brass, including CEO Bill Carstanjen. The news was good to great. First things first, the Kentucky Derby is expected to be run with spectators (CHDN execs are keeping an eye on what … Continue reading
Posted in Atlantic City, Churchill Downs, Dan Lee, Delaware, Dining, e-sports, Full House Resorts, Horseracing, Illinois, Kentucky, Macau, Maine, MGM Resorts International, Mississippi, Pennsylvania, Politics, Regulation, Rhode Island, Sports, Sports betting, Steven Witkoff, Taxes, The Strip, Twin River, Wall Street
1 Comment
Notes from hither and yon
In an effort to stay ahead of Coronavirus, resorts in Las Vegas are bringing back a chilled-out version of the traditional pool party. Some will require reservations for admission, and non-guests will have to book daybeds and cabañas. Out: DJs. … Continue reading
Wynn reinvents the buffet; Cash out, digital in?
We seem to have been overfearful in predicting the demise of the Las Vegas buffet. Wynncore‘s reopens on Thursday, making it the first to do so. But it won’t be the same old same-old. Yes, there will be 90 selections and, … Continue reading
‘Net bets carry Atlantic City; Clubs face crisis
Internet casinos are in New Jersey to stay. They grossed $86 million last month, their highest amount ever. That’s 135% more than a year ago. Golden Nugget was tops with $29 million, followed by Resorts Digital ($18 million) and Borgata … Continue reading
Posted in Atlantic City, Caesars Entertainment, Carl Icahn, Downtown, DraftKings, Economy, Entertainment, Florida, Golden Nugget, Health, Horseracing, International, Internet gambling, Las Vegas Sands, LVCVA, MGM Resorts International, Mississippi, Morris Bailey, New Jersey, New York, Ohio, Resorts World LV, Seminole Tribe, Sports, Sports betting, Steve Wynn, Taxes, The Strip, Tourism, Transportation, Wynn Resorts
2 Comments
“The calculus of reopening”
There seems to be a perception abroad in the land that, because Coronavirus is abating we’re out of the woods and can revert to pre-Covid-19 conduct. Reports of people wildly disregarding social distancing (now being downgraded to “appropriate distancing,” whatever … Continue reading
Posted in China, Current, Health, history, Horseracing, MGM Resorts International, New Jersey, Regulation, Security, Tourism
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The Drew is through; Stevens’ green shoots
Would somebody please implode Fontainebleau already? It’s an eyesore, a civic embarrassment and a product for which demand does not exist. We perhaps should be saying “The Drew” but—per Scott Roeben‘s all-but-infallible VitalVegas, The Drew is in default, meaning that … Continue reading
New York state of mind; Moody blues for Las Vegas
Like Massachusetts casinos, those in New York are not expected to reopen until July. Lago Resort & Casino General Manager Lance Young told journalist James Rutherford he’s monitoring reopening protocols as far away as Macao but has received no concrete … Continue reading
Posted in Economy, Health, Horseracing, Internet gambling, Lotteries, Maryland, MGM Resorts International, Michael Gaughan, Nevada, New York, Oklahoma, Penn National, Regulation, Rush Street Gaming, Sports, Sports betting, Taxes, Tribal, Wall Street
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Colorado sports betting a hit; REIT bides its time
Sports betting came out of the gate strong in Colorado. One of the surprises was the amount of handle on the Los Angeles Lakers. Said DraftKings odds guru Johnny Avello, “One of the things I did find interesting was the Lakers … Continue reading
Posted in Baseball, Boyd Gaming, Colorado, DraftKings, e-sports, Eldorado Resorts, FanDuel, GLPI, Health, Horseracing, Illinois, Louisiana, Maryland, Mesquite, Pinnacle Entertainment, Sports, Sports betting, Wall Street
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Churchill Downs curbs plans; Murren’s big payday
In its 1Q20 earnings call Churchill Downs announced some significant retrenchments. Although the company is comfortably liquid ($701 million in the kitty) it’s put four expansions on hold: Rivers Casino Des Plaines, an enlargement of Miami Valley Gaming, a $300 … Continue reading
Boyd doing well; What price Vegas?
Boyd Gaming posted net revenues of that were down 18% for 1Q20, reflective of mid-March casino closures. JP Morgan analyst Joseph Greff termed the results ones “that reflected relatively strong trends in the first two months of the quarter.” Since … Continue reading
Posted in Boyd Gaming, California, Churchill Downs, Cosmopolitan, Derek Stevens, Downtown, Economy, Hard Rock International, Health, Horseracing, Las Vegas Sands, LVCVA, Macau, Massachusetts, MGM Resorts International, Pennsylvania, Regulation, Resort fees, The Strip, Wall Street, Wynn Resorts
1 Comment
Gambling in the time of Coronavirus
Editor’s note: This roundtable was originally conducted for Casino Life magazine. For reasons unrelated to content, it was ‘put in turnaround,’ as they say in Hollywood. Rather than waste a perfectly good exchange between gaming executive Yaniv Sherman and sportswriter … Continue reading
Posted in Boyd Gaming, California, Conventions, DraftKings, e-sports, FanDuel, Health, Horseracing, Illinois, International, Internet gambling, Michigan, Missouri, New Jersey, Pennsylvania, Sports, Sports betting
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Sanders enters casino fray; MGM execs play the market
Sen. Bernie Sanders (I), perhaps in a move to reinvigorate his comatose presidential campaign, has waded into the dispute between the Trump administration and the Mashpee Wampanoag. The origin of the tribe’s newly dissolved, 321-acre reservation is clouded by tribal recognition during … Continue reading
Casinos in survival mode; Sports betting in Cali in peril
After this week’s stimulus vote in the U.S. Congress, the casino industry would seem to have ducked a bullet. But, depending on how much financial aid it can draw down, the question lingers over whether any operators will have to file … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, California, Charity, Colorado, Economy, Election, Foxwoods, Full House Resorts, Golden Gaming, Health, Horseracing, Indiana, International, Internet gambling, Las Vegas Sands, Louisiana, MGM Resorts International, Mohegan Sun, Nevada, Oklahoma, Penn National, Problem gambling, Regulation, Sports betting, Station Casinos, Tourism, Transportation, Tribal, Wall Street, Wynn Resorts
1 Comment