Category Archives: Illinois

MGM, Eldorado, Churchill Downs looking up

Posted on February 28, 2019 by David McKee

Credit Suisse‘s Cameron McKnight flew out to San Francisco to meet with MGM Resorts International CEO Jim Murren. The biggest headline item would be the eccentricity of Murren choosing to meet in Frisco rather than at MGM HQ in Las … Continue reading →

Posted in Architecture, Atlantic City, Caesars Entertainment, Churchill Downs, DFS, Eldorado Resorts, history, Horseracing, Illinois, Internet gambling, Louisiana, Marketing, Maryland, Massachusetts, MGM Resorts International, MTR Gaming, Neil Bluhm, Ocean Resort, Resort fees, Rush Street Gaming, The Strip, Wall Street | 1 Comment

Strip moolah propels Caesars; Boyd impresses

Posted on February 22, 2019 by David McKee

Caesars Entertainment reported 4Q18 results yesterday, playing to generally rave notices from Wall Street. “Very good” and “Excellent” were the initial reactions of Credit Suisse analyst Cameron McKnight. He noted 8% revenue growth in Las Vegas on only 1.5% cost … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Centaur Gaming, Hawaii, Illinois, Iowa, Kansas, Mandalay Bay Massacre, MGM Resorts International, Ohio, Pennsylvania, Pinnacle Entertainment, Slot routes, Taxes, The Strip, Wall Street | Comments Off

Chicago or bust?; Ocean Resort in deep water

Posted on February 12, 2019 by David McKee

With Illinois gaming revenue stuck at 2006 levels, some sense is finally filtering into legislative discussion of a Chicago casino. Could that idea have passed its sell-by date? The inability of Rivers Casino, however successful, and slot routes to move … Continue reading →

Posted in AGA, Atlantic City, Bruce Deifik, Economy, Illinois, Racinos, Regulation, Rush Street Gaming, Slot routes, Sports, Sports betting, TV, West Virginia | 2 Comments

Maryland booms, Illinois frozen out; Resort fees to rise … again

Posted on February 7, 2019 by David McKee

Business continues to boom for MGM National Harbor, which raked in $57 million last month, 12% growth and 41% of the Free State’s $137 million gross gaming revenue. Maryland Live‘s 34% market share translated into a gross of $46 million. Horseshoe … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Colorado, Cordish Co., Detroit, Dining, Economy, Entertainment, GLPI, Golden Gaming, Illinois, Las Vegas Raiders, Louisiana, Maryland, MGM Resorts International, New Jersey, Penn National, Pennsylvania, Pinnacle Entertainment, Resort fees, Rush Street Gaming, Sports, Sports betting, The Strip, Wall Street, West Virginia | 1 Comment

Sports books take Super Bowl hit

Posted on February 5, 2019 by David McKee

With 75% of bettors wagering on the New England Patriots, plus a “george” 53-1 side bet for in-store credit, FanDuel got taken to the woodshed during Super Bowl LIII, losing $5 million. “All of this combined to leave New England as … Continue reading →

Posted in Architecture, Arizona, Economy, Genting, Illinois, Las Vegas Sands, Marketing, New Jersey, Politics, Problem gambling, Resort fees, Singapore, Sports betting, Taxes, Texas | Comments Off

Japan lays down the law; Back to square one for Rush Street

Posted on January 25, 2019 by David McKee

Japan hasn’t issued requests for proposals for casino megaresorts — not that it has stopped companies like Hard Rock International from pitching their product to prefectures. However, the Japanese government is rolling out advertising regulations and they are stringent. The only places … Continue reading →

Posted in Illinois, Internet gambling, Japan, Marketing, Massachusetts, Regulation, Rush Street Gaming, Slot routes, Technology | Comments Off

Adelson sparks firestorm

Posted on January 21, 2019 by David McKee

When Bill Miller was appointed CEO of the American Gaming Association, we speculated that his relationship with Sheldon Adelson would be “less strained” than that of predecessor Geoff Freeman. Indeed, that already seems to be the case. It would account … Continue reading →

Posted in AGA, Carl Icahn, Churchill Downs, Delaware, DFS, Eldorado Resorts, Florida, Geoff Freeman, Illinois, Internet gambling, Massachusetts, MGM Resorts International, Nevada, New Jersey, New York, Politics, Racinos, Regulation, Sheldon Adelson, Sports, Sports betting, Steve Wynn, Tropicana Entertainment, Wall Street, William Hill, Wynn Resorts | Comments Off

Re-reversing the Wire Act: What it means

Posted on January 16, 2019 by David McKee

Last weekend’s flip-flop by the Justice Department‘s stance on the Federal Wire Act has spurred a fair amount of chin scratching in the gaming industry. Global Market Advisors notes the immediate implication: “The action, which at best can be described as … Continue reading →

Posted in Delaware, DFS, Illinois, Nevada, New Jersey, New York, Pennsylvania, Politics, Sheldon Adelson, Taxes, Wall Street | Comments Off

Frissora postpones departure; Oscar forecast

Posted on January 7, 2019 by David McKee

That game of musical chairs known as industry consolidation has left a lot of fine ladies and gentlemen standing when the melody stopped, included Anthony Sanfilippo, a favorite of ours. However, Caesars Entertainment apparently hasn’t heard of any of these … Continue reading →

Posted in Aristocrat, Bally Technologies, Boyd Gaming, Caesars Entertainment, Eldorado Resorts, Illinois, Movies, Penn National, Rush Street Gaming, Scientific Games, Shuffle Master, Sports betting, Technology | Comments Off

MGM, Cordish clean up in Maryland; Pennsylvania a cash cow

Posted on December 7, 2018 by David McKee

It was another good month at MGM National Harbor, which grossed almost $2 million per day in November, an above-average take for the pleasure palace. Slots were up 15% (to $31 million) while table games leapt 46%, grossing $26 million. … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Cordish Co., DFS, Economy, Eldorado Resorts, GLPI, Golden Gaming, Illinois, Internet gambling, Japan, Macau, Maryland, MGM Resorts International, New Jersey, Penn National, Pennsylvania, Rush Street Gaming, Sports betting, Taxes, Tourism, Transportation, Wall Street, West Virginia | Comments Off

Casino comes to Arkansas; Luxury comes at a cost

Posted on December 5, 2018 by David McKee

That was quick. Downstream Development Authority, a branch of the Quapaw Tribe, has been tapped by local officials to develop a casino in Pine Bluff, Arkansas. If you think the decision precipitate, don’t worry: The Quapaw have been doing outreach … Continue reading →

Posted in Arkansas, Caesars Entertainment, Connecticut, Economy, Illinois, Internet gambling, Macau, Marketing, MGM Resorts International, New York, Politics, Sports betting, Technology, Tribal, West Virginia | Comments Off

Uncle Sam wants your sports bet; Strip outperforms Nevada

Posted on November 27, 2018 by David McKee

Credit Suisse analyst Cameron McKnight had an ominous take on sports betting, as regards federal intervention and “integrity fees.” “Federal action on sports betting sounds more likely, though our contacts disagree on scope,” he warned, adding, “On integrity fees, we … Continue reading →

Posted in Boulder Strip, DFS, Downtown, Economy, Illinois, Lake Tahoe, Laughlin, Mandalay Bay Massacre, Massachusetts, Mississippi, Nevada, New Jersey, New York, North Las Vegas, Sports betting, The Strip, Transportation, Wall Street | Comments Off

Election Postmortem: Who won, who lost

Posted on November 13, 2018 by David McKee

Election Night seems far behind us but its meaning for gaming is still sinking in, as in Arkansas, where sports betting has also been approved. In addition, two Oklahoma-based tribal entities are likely to feel entitled to the casinos green-lit … Continue reading →

Posted in Animals, Arkansas, Caesars Entertainment, Culinary Union, DFS, Election, Entertainment, Florida, history, Idaho, Illinois, Las Vegas Sands, Louisiana, MGM Resorts International, Oklahoma, Politics, Seminole Tribe, Slot routes, Sports, Sports betting, Station Casinos, Taxes, Tribal | Comments Off

Midwest doldrums; Turning a page at Wynn

Posted on November 9, 2018 by David McKee

Slot routes continue to bleed Illinois casinos, which were 1.5% down in October. Two properties withstood the decline. Eldorado Resorts seems to be already turning things around at Grand Victoria, which was up 2% ($13 million). Rivers Casino, coveted by … Continue reading →

Posted in Atlantic City, Boyd Gaming, Caesars Entertainment, Centaur Gaming, Churchill Downs, Dubai, Eldorado Resorts, Election, Entertainment, Florida, Full House Resorts, GLPI, Illinois, Indiana, Kentucky, Macau, Majestic Star, Marketing, Penn National, Pinnacle Entertainment, Racinos, Reno, Rush Street Gaming, The Strip, Tribal, Wall Street, Wynn Resorts | Comments Off

Churchill Downs makes a run for the roses

Posted on November 5, 2018 by David McKee

JP Morgan commentator Daniel Politzer got the red-carpet treatment at Churchill Downs, in Louisville. He came away impressed. Churchill Downs is expanding on several fronts. Its Illinois purchase of a majority stake in Rivers Casino will cost CHDN a pretty … Continue reading →

Posted in Churchill Downs, Florida, Illinois, Indiana, Japan, Kentucky, Marketing, Racinos, South Korea, Sports betting, Wall Street | Comments Off

Promising horizon for Penn; Frissora exiting Caesars

Posted on November 2, 2018 by David McKee

Penn National Gaming came in from 3Q18 below Wall Street‘s expectations but JP Morgan analyst Joseph Greff defends the company, citing high expectations of free cash flow in 2019 (12%) and 2020 (20%), even after capex reinvestments. The addition of … Continue reading →

Posted in Atlantic City, Caesars Entertainment, Centaur Gaming, Dan Gilbert, Economy, Illinois, Lucky Dragon, Macau, Marketing, Massachusetts, Mississippi, Ohio, Pennsylvania, Sports betting, Tilman Fertitta, Wall Street, West Virginia | Comments Off

Churchill Downs: Next stop, Des Plaines

Posted on November 1, 2018 by David McKee

Late last night the news broke that Churchill Downs has purchased 50.1% of Rivers Casino in Des Plaines from a consortium headed by Rush Street Gaming. The company is paying $326 million for a slight majority in an asset valued … Continue reading →

Posted in Churchill Downs, Dining, Economy, Illinois, Las Vegas Sands, Louisiana, Macau, MGM Resorts International, Penn National, Pennsylvania, Pinnacle Entertainment, Rush Street Gaming, Wall Street | Comments Off

Illinois tries, tries again; I, robot

Posted on October 18, 2018 by David McKee

Here we go again. Illinois solons will once more take up the question of casino expansion in the Land of Lincoln. However, other and more pressing gambling concerns may take priority. In addition to Internet gambling there is the quick … Continue reading →

Posted in AGA, Caesars Entertainment, Culinary Union, DFS, Economy, GLPI, Illinois, International, Internet gambling, Lawrence Ho, MGM Resorts International, Politics, Racinos, Regulation, Sports betting, Taxes, Technology, Wynn Resorts | Comments Off

Wisdom from G2E; Sisolak lights up

Posted on October 10, 2018 by David McKee

This week’s Global Gaming Expo gives Wall Street analysts plenty of time to sniff around the big gaming operators and manufacturers, trying to suss out trends. Credit Suisse analyst Cameron McKnight, the new kid on the block, says that 3Q18 … Continue reading →

Posted in Atlantic City, Boyd Gaming, Caesars Entertainment, Economy, Eldorado Resorts, Election, G2E, GLPI, Golden Gaming, Illinois, Indiana, Isle of Capri, Las Vegas Sands, Macau, Mandalay Bay Massacre, Marijuana, Marketing, MGM Resorts International, Mississippi, Nevada, Palms, Penn National, Sports, Station Casinos, Tilman Fertitta, Tourism, Tribal, Tropicana Entertainment, Wall Street | Comments Off

Intransigence at Station; Money madness in Illinois

Posted on August 24, 2018 by David McKee

Station Casinos‘ response to overwhelming pro-union votes at the Palms and Green Valley Ranch has apparently been not to negotiate but to go into a corner and sulk. Last week, the National Labor Relations Board wrote, “Respondent has been failing and … Continue reading →

Posted in Animals, California, Culinary Union, DFS, Donald Trump, Illinois, Internet gambling, Palms, Politics, Racinos, Security, Slot routes, Sports, Station Casinos, Taxes, Tribal | 1 Comment