Category Archives: Illinois

Quote of the Day

Posted on June 10, 2019 by David McKee

“The process that Illinois has gone through in the last couple of days of providing a Christmas tree amendment to have revenue be the driver as opposed to sound policy is not the way to craft good sports betting legislation. … Continue reading →

Posted in Illinois, Taxes | Comments Off

Honeymoon in Illinois; Contraction in Maryland

Posted on June 7, 2019 by David McKee

Illinois lawmakers think casino gambling is a bottomless well of revenue, as witnessed by their recent approval of five new gambling houses and three racinos (just for starters). However, last month’s actual revenues were less than auspicatory. At $118 million, … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Cordish Co., Eldorado Resorts, GLPI, Illinois, Maryland, MGM Resorts International, Penn National, Rush Street Gaming, West Virginia | Comments Off

Runaway greed in Illinois

Posted on June 3, 2019 by David McKee

Existing operators in Illinois are picking themselves up off the floor following an exponential expansion of casino gambling in the Land of Lincoln, achieved in the waning hours of the legislative session. Caesars Entertainment, Penn National Gaming, Boyd Gaming, Eldorado … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, DFS, Eldorado Resorts, Illinois, International, Penn National, Politics, Taxes, Wall Street, Wynn Resorts | 1 Comment

April unkind to Strip; Expansion scramble in Illinois

Posted on May 29, 2019 by David McKee

Las Vegas Strip revenues were down 3.5% last month but for once baccarat was blameless. Luck was with the casinos in the highly volatile game, which saw the house win 5.5% more on 17% higher wagering. Players avoided other table … Continue reading →

Posted in Boulder Strip, Detroit, Downtown, Illinois, Lake Tahoe, Laughlin, Massachusetts, Michigan, North Las Vegas, Penn National, Politics, Regulation, Reno, The Strip, Wynn Resorts | Comments Off

Tribe trumps Trump; Rockford pleads for casino

Posted on May 20, 2019 by David McKee

Despite being thrown off the fast-track legislative calendar by a blast of hot air from Donald Trump, a bill to restore land-in-trust status to the Mashpee Wampanoags has sailed through the House of Representatives, 257-146 in a bipartisan win. “Without support … Continue reading →

Posted in Aristocrat, Caesars Entertainment, Culinary Union, Donald Trump, Genting, Illinois, Indiana, Law enforcement, Marketing, Massachusetts, Nevada, Technology, Tribal, Unite-Here, Wisconsin | 2 Comments

Case Bets

Posted on May 17, 2019 by David McKee

Need a scorecard to keep up with the progress of sports betting? Never fear, the American Gaming Association has provided one. It shows sports-betting legislation on the docket in 15 states, including casino-averse Texas and Vermont. States that have rejected … Continue reading →

Posted in Animals, California, Dining, Greenwood Racing, Illinois, Mandalay Bay Massacre, MGM Resorts International, Mohegan Sun, Palms, Pennsylvania, Pets, Regulation, Rush Street Gaming, Sports, Sports betting, Station Casinos | Comments Off

Illinois agonizes over expansion; Frustration in Connecticut

Posted on May 14, 2019 by David McKee

Always looking for ways to kill the golden goose, Illinois lawmakers are contemplating gambling expansion yet again. Slot route operators are understandably balking at Gov. J.B. Pritzker‘s proposal to raise the current 30% tax rate to a 50/50 split with … Continue reading →

Posted in Architecture, Connecticut, Foxwoods, Illinois, Internet gambling, Las Vegas Sands, Macau, MGM Resorts International, Mohegan Sun, New Jersey, New York, Politics, Resort fees, Slot routes, Sports betting, The Strip, Tribal | Comments Off

Stability in the heartland; The lure of “NashVegas”

Posted on May 9, 2019 by David McKee

Last month’s gaming revenues from Ohio and Illinois were flat year/year. Some would look at that as a bad thing but it shows the states aren’t losing significant play to neighboring states. Ohio casinos grossed $160 million, with MGM Northfield … Continue reading →

Posted in Australia, Boyd Gaming, Caesars Entertainment, Canada, Churchill Downs, Crown Resorts, Dan Gilbert, Dining, Eldorado Resorts, Georgia, GLPI, Illinois, Law enforcement, Macau, MGM Resorts International, Mississippi, Ohio, Penn National, Pennsylvania, Rush Street Gaming, Sports, Sports betting, The Strip, Tourism, Wall Street, Wynn Resorts | Comments Off

Solid month for Maryland; Casino sale aborted

Posted on May 7, 2019 by David McKee

Maryland casino revenues inched up to $145 million last month, led by MGM National Harbor with $61 million and 42% of market share. Maryland Live, no surprise, was second with 33% and $48 million (+2%). Horseshoe Baltimore grossed $20 million … Continue reading →

Posted in Atlantic City, Caesars Entertainment, Churchill Downs, Cordish Co., GLPI, Golden Gaming, Illinois, Internet gambling, Iowa, Lotteries, Macau, Maryland, Melco Resorts & Entertainment, MGM Resorts International, Missouri, Mohegan Sun, Nebraska, Penn National, Politics, Regulation, Sports betting, Tribal, TV, Wall Street, West Virginia | Comments Off

Wynn balks at Beantown penalty

Posted on May 6, 2019 by David McKee

Although it was willing to pay at least $20 million to remain licensed in Nevada, it appears that Wynn Resorts is unwilling to take its $35 million dose of castor oil in Massachusetts. “We are in the process of reviewing … Continue reading →

Posted in Australia, Charity, Cirque du Soleil, Crown Resorts, Downtown, Entertainment, Florida, Illinois, Internet gambling, Macau, Massachusetts, Movies, Pennsylvania, Regulation, Resort fees, Seminole Tribe, Sports betting, The Strip, Tilman Fertitta, Wynn Resorts | Comments Off

Eldorado strong, Penn stronger; Caesars screws you

Posted on May 3, 2019 by David McKee

Were it not for inclement weather, Eldorado Resorts would have exceeded Wall Street’s consensus $172 million cash-flow prediction by $8 million for 1Q19, not come up $5 million short. For instance, Reno (pictured) had snow in 24 of February’s 28 days … Continue reading →

Posted in Arizona, Atlantic City, Caesars Entertainment, Colorado, Cordish Co., Cretins, Culinary Union, Detroit, Dining, Economy, Eldorado Resorts, Florida, Hard Rock International, Illinois, Internet gambling, Iowa, Macau, Massachusetts, MGM Resorts International, Mississippi, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Regulation, Reno, Sports betting, Station Casinos, Tribal, Wall Street, West Virginia, Wynn Resorts | Comments Off

Boyd, Churchill Downs garner raves; Indiana governor seduced

Posted on April 26, 2019 by David McKee

Boyd Gaming got a good review on Wall Street today, lauded both for slightly surpassing revenue expectations and for moving quickly to deleverage in the wake of the Valley Forge, Belterra and Ameristar acquisitions. Downtown continues to be Boyd’s bastion … Continue reading →

Posted in Ameristar, Boyd Gaming, Caesars Entertainment, California, Charity, Churchill Downs, Current, Derek Stevens, Downtown, Florida, Hawaii, Horseracing, Illinois, Iowa, Kentucky, Louisiana, Maryland, Mississippi, Ohio, Palms, Pennsylvania, Politics, Racinos, Rhode Island, Slot routes, Spectacle Entertainment, Sports betting, Station Casinos, Taxes, Tribal, Wall Street, West Virginia, Westgate LV | 1 Comment

Nevada’s #1, not in a good way

Posted on April 23, 2019 by David McKee

WalletHub has been crunching the numbers again and come to the conclusion that Nevada is America‘s most-gaming addicted state. (Utah is the least, while the Silver State is followed by South Dakota, Montana, Mississippi and Oregon.) Casino-rich Florida was an incredibly … Continue reading →

Posted in Australia, Connecticut, Crown Resorts, Delaware, Florida, Hawaii, Illinois, International, Kansas, Kentucky, Macau, Massachusetts, Michigan, Minnesota, Mississippi, Nebraska, Nevada, New Jersey, New Mexico, New York, Oklahoma, Pennsylvania, Problem gambling, Rhode Island, Slot routes, South Dakota, Virginia, Washington State, West Virginia | Comments Off

Land of confusion

Posted on April 22, 2019 by David McKee

OK, so there are no condos on sale at the Plaza Resort in downtown Las Vegas. That much we have established. But it’s got to be one of the most baffling stories we’ve ever covered. For instance, “TLC” usually is shorthand … Continue reading →

Posted in Animals, Caesars Entertainment, Churchill Downs, Golden Gaming, Illinois, Japan, Kentucky, Massachusetts, MGM Resorts International, New Jersey, Penn National, Politics, Racinos, Real Estate, Regulation, Sports betting, Tamares Group, Taxes, Terry Caudill, The Strip, Wall Street | Comments Off

Caesars: Under the weather; Wynn enters the Internet

Posted on April 16, 2019 by David McKee

Lack of thrift in the executive corridors is hurting Caesars Entertainment‘s stock price. JP Morgan analyst Daniel Politzer just ratcheted his price target down to $12, citing “worse than expected weather/GGR results at CZR’s regional properties and higher than previously … Continue reading →

Posted in Atlantic City, Caesars Entertainment, Colorado, Eldorado Resorts, Environment, Illinois, Internet gambling, Iowa, New York, Reno, Scientific Games, Sports betting, Steve Wynn, The Strip, Tropicana Entertainment, Wall Street, Wynn Resorts | Comments Off

Around the horn

Posted on April 11, 2019 by David McKee

Gambling revenue hit a record amount in Maryland last month, up 9% to $164 million. The good news for MGM National Harbor was that winnings were up 4% to $64 million. The bad news is that this was driven by … Continue reading →

Posted in Affinity Gaming, Ameristar, Boyd Gaming, Caesars Entertainment, Churchill Downs, Cordish Co., Dan Gilbert, Eldorado Resorts, Full House Resorts, GLPI, Golden Gaming, Hard Rock International, Illinois, Indiana, Isle of Capri, Maryland, MGM Resorts International, Missouri, Ohio, Penn National, Racinos, Rush Street Gaming, Taxes, Tribal, Wall Street, West Virginia | Comments Off

Caesars: Running numbers; Showboat is back

Posted on March 21, 2019 by David McKee

JP Morgan‘s Daniel Politzer ran the numbers on an Eldorado Resorts buyout of Caesars Entertainment and finds it doable. His model is predicated on a $10.50/share purchase of CZR stock, currently trading at $8.56. That’s a pretty good deal for … Continue reading →

Posted in Atlantic City, Caesars Entertainment, Detroit, DFS, e-sports, Eldorado Resorts, Illinois, Internet gambling, Iowa, Japan, Lake Tahoe, Las Vegas Sands, Laughlin, Marketing, MGM Resorts International, Michigan, Missouri, Politics, Reno, Sports, Taxes, Wall Street | 1 Comment

Gaming speaks: Penn, Boyd, Eldorado, Churchill Downs

Posted on March 15, 2019 by David McKee

One of the few CEOs to grace JP Morgan‘s hotel-and-leisure forum was Penn National Gaming‘s Tim Wilmot. He reported that the “regional consumer remains solid and trends are largely consistent with that seen 2018.” Furthermore, Penn is “seeing good growth … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Economy, Eldorado Resorts, Horseracing, Illinois, Japan, Kentucky, Marketing, Nevada, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Reno, Sports betting, The Strip, Tropicana Entertainment, Wall Street | Comments Off

Gaming speaks: Wynn, Sands, Scientific

Posted on March 15, 2019 by David McKee

Wynn Resorts exuded overconfidence in a meeting with JP Morgan analysts. It’s already booking revenue from Encore Boston Harbor without knowing it’s going to hang onto the license. It also expects new revenue to be driven by the debut of … Continue reading →

Posted in Caesars Entertainment, Carl Icahn, Illinois, International, Japan, Las Vegas Sands, Macau, Massachusetts, Pennsylvania, Scientific Games, Singapore, South Korea, The Strip, Tourism, Transportation, Wall Street, Wynn Resorts | Comments Off

Illinois: Sunken treasure; Maryland finally maxes out

Posted on March 7, 2019 by David McKee

Like February 2018, last month was bad for Illinois casinos, sliding another 6.5% into the maw of slot routes. One outlier should be noted: Harrah’s Metropolis was and remains closed due to flooding, causing a 32% precipice in revenue, grossing … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Cordish Co., Eldorado Resorts, Illinois, Maryland, MGM Resorts International, Penn National, Rush Street Gaming, Slot routes, Wall Street, West Virginia | Comments Off