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Category Archives: Illinois
Bluhm thinks big in Massachusetts; Cautious optimism in Illinois
Never accuse Neil Bluhm of thinking small. His Mass Gaming & Entertainment has published some eye-popping projections as part of a 200-page casino application to the State of Massachusetts. Despite nearby competition from Plainridge and Rhode Island, Bluhm is projecting … Continue reading
Posted in Architecture, Boyd Gaming, GLPI, Harrah's, Illinois, Internet gambling, Massachusetts, MGM Mirage, Neil Bluhm, Penn National, Politics, Regulation, Tribal
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Georgia on their minds; DFS regulation gathers speed
There’s a new suitor in the crowd of casino companies eager to extend their brands into Georgia: the Seminole Tribe. It wants to build a Hard Rock International casino in 2018, opposite Mercedes-Benz Stadium, where the Atlanta Falcons will play. Hard … Continue reading
Posted in Atlantic City, Boyd Gaming, Georgia, Hard Rock International, Illinois, Internet gambling, Minnesota, New York, Problem gambling, Regulation, Seminole Tribe, Taxes
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Baccarat buoys the Strip; Last call for Vegas Club
Not only were Nevada gaming revenues up 2% last month, so were Strip revs, propelled by heavy baccarat play. In addition to 17% more being wagered, the house played lucky, winning 24% than last year. That more than made up … Continue reading
MGM: The Murren roars
In one of the year’s least surprising surprises, MGM Resorts International announced that it is spinning 10 of its casinos off into a REIT and is in a hurry to do so, expecting the transaction to close in the first … Continue reading
Posted in CityCenter, Illinois, Macau, Maryland, Massachusetts, MGM Mirage, Mississippi, Station Casinos, Wall Street
1 Comment
Caesars: (Almost) everything must go; More angst in Macao
Well, it had to happen eventually. In order to escape bankruptcy, Caesars Entertainment is putting Caesars Entertainment Operating Co. on the market. There are some who are calling this a bluff and others who can’t afford to get in on … Continue reading
Posted in Atlantic City, Boyd Gaming, California, Economy, GLPI, Harrah's, Illinois, Indiana, International, Iowa, Lake Tahoe, Lawrence Ho, Louisiana, Marketing, Melco Crown Entertainment, MGM Mirage, Mississippi, Missouri, Ohio, Penn National, Philippines, Regulation, Reno, Sheldon Adelson, Stanley Ho, Steve Wynn, The Strip, Tribal, Wall Street
1 Comment
Illinois to act on DFS
Today, a bill is anticipated to be put in the hopper of the Illinois Legislature to regulate daily fantasy sports. The brainchild of Rep. Mike Zalewski (D), “it would create standards for auditing daily fantasy companies that want to do business … Continue reading
Posted in Dining, Illinois, Internet gambling, Politics, Regulation, Station Casinos, The Strip
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Bad week for DFS
“What it’s doing is calling fantasy sports what it is. Do you pay money to get into the contest, and do you get money back when you win? And if so, that’s gambling.” So says South Point attorney Barry Leibermann of … Continue reading
Posted in Atlantic City, California, Colorado, Delaware, Florida, Georgia, Illinois, Internet gambling, Kansas, Maryland, Massachusetts, Michael Gaughan, Mississippi, New York, Ohio, Politics, Technology
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All’s well at Penn; Mulroy’s misdeed; Discomfort at Studio City
Penn National Gaming pleasantly surprised Wall Street, reporting third-quarter revenue of $739 million and $210 million in cash flow, exceeding projections by $8 million and $11 million, respectively. It paid out $109 million in rent to Gaming & Leisure Properties … Continue reading
Posted in California, Economy, Galaxy Entertainment, GLPI, Illinois, Lawrence Ho, Macau, Marketing, Massachusetts, Melco Crown Entertainment, MGM Mirage, Missouri, Ohio, Penn National, Regulation, Sports, Steve Wynn, The Strip, Tribal, Wall Street
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James Packer thinks big; DFS’ self-inflicted wound
One scarcely thinks of Crown Resorts as anything but an upmarket brand. However, as it contemplates debuting in Las Vegas and pines after Japan, Crown is developing a new, luxury brand. The unlikely template will be a $1.1 billion, 90-story … Continue reading
Posted in Australia, California, Delaware, Illinois, James Packer, Japan, Macau, Mississippi, Ohio, Pennsylvania, Regulation, Sheldon Adelson, Sports, The Strip
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No boost for Illinois; The wrath of Wynn
So much for the invigorating effect of Labor Day weekend. Even with a holiday, September in Illinois still saw a decline in casino revenue. Casinos in the Land of Lincoln were down 5% for the month. Foot traffic fell 2% … Continue reading
Posted in Boyd Gaming, GLPI, Harrah's, Illinois, Massachusetts, MGM Mirage, Neil Bluhm, Penn National, Regulation, Slot routes, Sports, Steve Wynn
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Big players accentuate the positive
Deutsche Bank analyst Carlo Santarelli has been a busy man these past few days, meeting with the top companies in gaming. In no special order … Boyd Gaming took the usual line on REIT conversion and acquisitions, basically saying, “If … Continue reading
Posted in Ameristar, Boyd Gaming, Colorado, Downtown, Economy, Florida, GLPI, Illinois, International, Isle of Capri, Louisiana, Macau, Marketing, Massachusetts, MGM Mirage, Penn National, Pinnacle Entertainment, Sports, Steve Wynn, Texas, The Strip, Tilman Fertitta, Wall Street
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Gambling junkies in Illinois; New thinking in China
Despite having added slot routes to the state’s gambling repertory, gaming-tax revenues are down 6% in Illinois. This occurred despite the continuing addition of slot routes. However, some gambling-tax junkies continue to deny the obvious proof of a saturated market. “I’m … Continue reading
Posted in Architecture, Environment, Illinois, Politics, Racinos, Slot routes, Taxes, Tourism
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Disappointment in Illinois; Wynn’s new crib
One less weekend day doesn’t wholly explain the tepid results from Illinois in August. Harrah’s Joliet was down a dramatic 14%, while Hollywood Aurora was off 10% and Empress Joliet slipped 3%. Even seemingly invulnerable Rivers Casino in Des Plaines … Continue reading
Posted in Boyd Gaming, Dining, Economy, GLPI, Harrah's, Illinois, MGM Mirage, Penn National, Pinnacle Entertainment, The Strip, Tropicana Entertainment, Wall Street
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Bluhm presses case in Massachusetts; Lawrence Ho tells it like it is
Despite having to wait at least until early next year to start building, a potential Brockton casino could be “up and running by 2018,” sometime in the second quarter, according to Neil Bluhm. “We are shovel-ready to go.” Unfortunately for … Continue reading
Midwest shakes off malaise
Yes, there was an extra weekend day this year but let’s look at the glass half-full, as regional gaming markets shook off their malaise. Illinois was up 2% despite mild weakness in the St. Louis market. Empress Joliet (+10%) was … Continue reading
Posted in Ameristar, Boyd Gaming, Dan Gilbert, Economy, Hard Rock International, Harrah's, Horseracing, Illinois, Indiana, Isle of Capri, Majestic Star, MGM Mirage, Missouri, Neil Bluhm, Ohio, Penn National, Pinnacle Entertainment, Racinos, Wall Street
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Macao: “Less bad”; MGM beats estimates
That’s how J.P. Morgan analyst Joseph Greff spun the latest numbers out of Macao, where gaming revenues plunged 34%, less than the year-to-date average of 37%. Mass table game winnings were up 11% from June, “more positive than we otherwise … Continue reading
Posted in Atlantic City, Detroit, Economy, Illinois, Macau, Mississippi, Scientific Games, The Strip, Wall Street
1 Comment
MGM’s cost-discipline difficulties; Wynn framed in Boston
As fast as MGM Resorts International can sell off non-core assets, the proceeds are consumed by new construction. Case in point: MGM National Harbor, whose initial $925 million cost has crept up to $1.3 billion. That’s money that can’t go … Continue reading
Posted in Architecture, Boyd Gaming, CityCenter, Downtown, Harrah's, history, Illinois, Massachusetts, MGM Mirage, Penn National, Slot routes, Steve Wynn, The Strip
1 Comment
Shocker in Massachusetts; Successes and setbacks for Penn
In a stunning reversal of fortune, KG Urban Enterprises has ditched its $650 million New Bedford casino project, citing financial difficulties. This ends seven years of grinding effort to gain civic acceptance, which culminated in a landslide electoral victory earlier … Continue reading
Posted in Election, Environment, Florida, Foxwoods, GLPI, Illinois, Internet gambling, Maine, Massachusetts, Neil Bluhm, Ohio, Penn National, Pennsylvania, Racinos, Regulation, Scientific Games, Steve Wynn, Taxes, Tribal, Wall Street
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Around the Midwest
Iowa was as flat as much of its landscape last month. Amidst the prevailing revenue stasis (sign of a perfectly sized market) there were a few significant movers. Isle of Capri Casinos‘ three properties were up a collective 2%, while … Continue reading
Posted in Ameristar, Boyd Gaming, Dan Gilbert, Full House Resorts, GLPI, Hard Rock International, Harrah's, Illinois, Indiana, Iowa, Isle of Capri, Neil Bluhm, Penn National, Pinnacle Entertainment, Warner Gaming
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GLPI treads water
Top honchos from Gaming & Leisure Properties, including CEO Peter Carlino, recently met with J.P. Morgan analyst Joseph Greff. They assessed the current state of regional gaming markets as no better than “okay” and predicted that the industry trend to … Continue reading
Posted in Economy, GLPI, Illinois, MGM Mirage, Pinnacle Entertainment, The Strip, Wall Street
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