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Category Archives: Illinois
Poverty in the suites; Industry ramps up bailout pressure
Sheldon Adelson is worth $28 billion today. Which doesn’t sound so bad until you consider that he was worth $40 billion before the Wall Street crash. That’s the literal price of owning 432,000,000 shares of Las Vegas Sands. Not that … Continue reading
Posted in AGA, Caesars Entertainment, California, Carl Icahn, Charity, China, Donald Trump, Economy, Elaine Wynn, FanDuel, GLPI, Health, history, Horseracing, Illinois, Internet gambling, Las Vegas Sands, Macau, Melco Resorts & Entertainment, MGM Resorts International, Movies, New York, Phil Ruffin, Sheldon Adelson, Sports betting, Station Casinos, The Mob, Tribal, Unite-Here, Wall Street, Wynn Resorts
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Where do we go from here?
In the process of canceling its 2020 earnings guidance, Marriott International gave some oblique insight into how the casino industry is likely to cope with the Coronavirus quarantine. Occupancy, it said, had fallen to 25%, compared to 70% last year. … Continue reading
Posted in AGA, Alabama, Baseball, Boyd Gaming, Caesars Entertainment, Carl Icahn, Charity, Economy, Health, Illinois, Indiana, International, Internet gambling, Iowa, Las Vegas Sands, Macau, Melco Resorts & Entertainment, MGM Resorts International, Movies, Oregon, Penn National, Real Estate, Regulation, Sahara, Sheldon Adelson, Slot routes, South Korea, Sports, Sports betting, The Strip, Tribal, Wall Street, Wynn Resorts
1 Comment
Las Vegas is closed
America‘s favorite 24-hour town has finally caved to the inevitable and done what neither Sept. 11 nor the Great Recession made it do. It has turned out the lights and hung the “Closed for business” sign in the window. Finally … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, California, Canada, Cosmopolitan, Culinary Union, Dining, Downtown, Economy, Election, Golden Gaming, Health, Illinois, Las Vegas Sands, MGM Resorts International, Nevada, Phil Ruffin, Real Estate, Regulation, Station Casinos, Steve Wynn, The Strip, Tourism, Transportation, Wall Street, Wynn Resorts
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Casino closures sweep the country
We’re all going through what are called “adjustment reactions,” including casino executives across the country. They’d like to stay open for business—many are—but others are being forced to close or making the difficult choice to go dark on their own. … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Conventions, Cordish Co., Derek Stevens, Downtown, e-sports, Economy, Eldorado Resorts, Health, IGT, Illinois, Indiana, Las Vegas Sands, Maryland, Massachusetts, Melco Resorts & Entertainment, MGM Resorts International, New York, Ohio, Pennsylvania, Scientific Games, Sports, Station Casinos, The Strip, Wall Street, Wynn Resorts
1 Comment
Butler rips Lamont; Tribe supplicates Trump
Sports betting could die in Connecticut, thanks to a stalemate between Gov. Ned Lamont (D, pictured) and the state’s gaming tribes. Speaking for the latter, Mashantucket Pequot Chairman Rodney Butler accused the governor of a “take-it-or-leave-it” negotiating stance. Butler and … Continue reading
Posted in Caesars Entertainment, Churchill Downs, Connecticut, Donald Trump, DraftKings, FanDuel, Foxwoods, Genting, IGT, Illinois, International, Kentucky, Konami, Las Vegas Sands, Law enforcement, Lotteries, Louisiana, Massachusetts, MGM Resorts International, New York, Politics, Rhode Island, Sports betting, Technology, Tribal, Wynn Resorts
2 Comments
Vegas vs. virus II; Illinois, Maryland rally
Two presumed cases of coronavirus have been reported in Nevada. What’s the over/under on when panic sets in? Me, I’m contemplating a trip back to Las Vegas in the near future, so I’m working on my sangfroid. As one tourist … Continue reading
Caudill casinos recovering; Slick Rick strikes again
It now appears that Terry Caudill‘s two casinos were the victim of a “ransomware” hack that crippled the slot floor, among other debilities. It wrecked last weekend’s business and “scattered outages” were still seen as of Monday. The Nevada Gaming … Continue reading
Bank rides to Churchill Downs’ rescue; Las Vegas healthy
Last week Churchill Downs posted perfectly good 4Q19 numbers but Wall Street wasn’t buying it. CHDN shares slumped 14%. That prompted some weekend damage control from JP Morgan, which bumped its rating up from “neutral” to “overweight,” and sent analyst … Continue reading
Posted in Caesars Entertainment, China, Conventions, Donald Trump, Economy, Eldorado Resorts, Health, history, Horseracing, Illinois, Indiana, International, Kentucky, Marketing, Problem gambling, Regulation, Rhode Island, Slot routes, Sports, Sports betting, The Strip, Tourism, Transportation, Tribal, Wall Street, Washington State, William Hill, Wynn Resorts
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Caution at Churchill Downs doesn’t impress Wall Street
Churchill Downs‘ stock reacted adversely to a cautious 4Q19 revenue report, as investors worried about the impact of coronavirus on the running of the Kentucky Derby, slated for May 2. JP Morgan analyst Joseph Greff, although one of those staying … Continue reading
Posted in Arizona, Caesars Entertainment, Canada, Churchill Downs, Dining, Health, Horseracing, Illinois, International, Internet gambling, Kentucky, Macau, Money laundering, Regulation, Resort fees, Scientific Games, Slot routes, Sports betting, Taxes, The Mob, The Strip, Virginia, Wall Street, William Hill
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Big January for the Strip; Mega-jottings
January was very good for the Las Vegas Strip, up 7.5% to $572 million. Baccarat played a big role, with winnings up 16% on 24% greater wagering. (In fairness, January 2019 was terrible for baccarat.) Other table games didn’t do … Continue reading
Posted in Australia, Boulder Strip, Caesars Entertainment, China, Conventions, Downtown, Downtown Grand, Eldorado Resorts, Health, Illinois, International, Internet gambling, Lake Tahoe, Laughlin, Marketing, MGM Resorts International, Mississippi, North Las Vegas, Philippines, PokerStars, Regulation, Reno, Technology, The Strip, Tourism, Transportation, Wendover
2 Comments
Encore gets real; Atlantic City on impressive streak
According to the Boston Globe, a “sense of reality” in sinking in at Encore Boston Harbor that it has to appeal to somebody besides high-income demographics. “This shift was evident recently when a bright-red taco truck appeared on the gambling … Continue reading
Posted in Atlantic City, Canada, Dining, Georgia, Illinois, Internet gambling, Marketing, Massachusetts, MGM Resorts International, Real Estate, Regulation, Sports betting, Steve Wynn, Taxes, The Mob, Wynn Resorts
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Slick Rick cries foul; Re-enter the (former) Dragon
Everybody’s favorite rogue gaming operator, Rick Heidner, is suing the Illinois Gaming Board for an alleged data breach. Heidner charges that “their personal and sensitive financial information was intentionally and illegally leaked by an IGB employee … resulting in significant financial … Continue reading
Posted in Culinary Union, Donald Trump, Downtown, Election, Health, Illinois, Lucky Dragon, Nevada, Regulation, Scientific Games, Transportation
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Pritzker whistles past graveyard, Ivey more cautious
Casino revenue in Illinois last year was down 1.5% from 2018—and 17% from 2012, the seventh consecutive year of declines. Despite this empirical evidence, Gov. J.B. Pritzker (D) and his commissars for optimism remain hellbent on casino expansion, believing that … Continue reading
Posted in Alabama, Election, Health, Illinois, Law enforcement, Lotteries, Louisiana, Missouri, Penn National, Politics, Slot routes, Taxes, Tribal
1 Comment
Boom in the Rust Belt
You’d be forgiven if you did a double take upon seeing the latest casino-revenue numbers out of the Midwest. Business is up—to sometimes-unprecedented degrees. Take Ohio, for instance. It’s always a casino-friendly state … but a 19% upsurge in revenue? … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Dan Gilbert, DraftKings, Economy, Eldorado Resorts, FanDuel, Full House Resorts, GLPI, Hard Rock International, Illinois, Indiana, MGM Resorts International, Missouri, Ohio, Penn National, Racinos, Rush Street Gaming, Spectacle Entertainment, Sports betting
2 Comments
Macao: Worse than expected; New deal on Connecticut table
When China gets coronavirus, Macao develops pneumonia. While Wall Street was expecting gaming revenues to dip 2% in January, they fell 11%. Macanese casinos still grossed $2.75 billion, so it’s not like they were hearing crickets. However, February is shaping … Continue reading
Posted in Atlantic City, Caesars Entertainment, China, Connecticut, Derek Stevens, Downtown, Economy, Eldorado Resorts, Foxwoods, Health, IGT, Illinois, Japan, Las Vegas Sands, Louisiana, Macau, MGM Resorts International, Mohegan Sun, New Jersey, Pennsylvania, Politics, Regulation, Sheldon Adelson, Sports betting, Tourism, West Virginia
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Year of the Rat off to bad start; NLRB spanks Station; JoBro!
Coronavirus has reared its ugly head in the United States, the second case being of a Chicago woman who started manifesting symptoms several days after returning from China. Reports the Boston Globe, “Doctors with the Centers for Disease Control and … Continue reading
Posted in China, Culinary Union, Entertainment, Health, history, Illinois, Macau, MGM Resorts International, Station Casinos, The Strip, Wall Street
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Indiana flat, Missouri down, Jones up
Indiana gaming revenues were microscopically down last month, to $186 million, not bad when one considers that December 2018 had one more weekend day. It’s too soon to have numbers from table games at the racinos, so January’s will be … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Century Casinos, Diversity, DraftKings, Eldorado Resorts, Environment, FanDuel, Full House Resorts, Illinois, Indiana, MGM Resorts International, Michigan, Penn National, Racinos, Regulation, Scott Butera, Spectacle Entertainment, Sports betting, Wynn Resorts
1 Comment
Churchill Downs, Eldorado power Illinois; Atlantic City upgraded
Santa Claus was generous to Illinois casinos. Despite ever-increasing competition and an unfavorable calendar (one less weekend day) their receipts rose 5.5% last month. The gross was $124 million, with most of that ($94 million) coming from the state’s northern … Continue reading
Japan scandal grows; Caesars slammed
Japan‘s 500.com bribery case continues to spread. An additional five Nipponese lawmakers have been implicated, accused of taking $9,249. The notion that Japanese solons would sell their souls for such chump change indicates how desperately they want to get in on the … Continue reading
Damp November in Nevada; Dirty dealings in Illinois
Could the good times be coming to an end for Las Vegas? The Strip was down 3% last month but, worse still, locals revenue was off by 4%. The prior-year comparison was difficult (+6.5%) but not impossible, while December looks … Continue reading