Category Archives: Indiana

Las Vegas: Are happy days here again?; Sands dibs NYC

Posted on March 19, 2021 by David McKee

As we’ve often said, when the American economy gets the flu (literally, in this case), Las Vegas catches pneumonia. During the depths of the Covid-19 pandemic, unemployment in Vegas levitated to 34%. Today it is a still-unhealthy 10.5%. Nonetheless, the … Continue reading →

Posted in Architecture, Australia, Bally, Boulder Strip, Boyd Gaming, Caesars Entertainment, California, Churchill Downs, CQ Holdings, Crown Resorts, Economy, Entertainment, Florida, Golden Nugget, Hard Rock International, Health, Indiana, Internet gambling, Japan, Las Vegas Sands, Louisiana, Massachusetts, New York, North Carolina, Penn National, Spectacle Entertainment, Sports betting, The Strip, Tribal, William Hill, Wynn Resorts | 1 Comment

Vegas’ Dream is TSA’s nightmare; MGM disses Chicago

Posted on March 15, 2021 by David McKee

Part Two of our survey of analyst reports on Vegas-based casino companies will have to wait a day, given a bevy of breaking news. First up, a major setback for the planned Dream Las Vegas on the south Strip. Airlines … Continue reading →

Posted in Architecture, Arizona, Atlantic City, Bally, Boyd Gaming, Caesars Entertainment, California, Cosmopolitan, Cretins, Dining, Diversity, Economy, Entertainment, Failsinos, Full House Resorts, Hard Rock International, Health, Illinois, Indiana, Las Vegas Sands, Mandalay Bay Massacre, Maryland, MGM Resorts International, Michael Gaughan, New York, Penn National, Rush Street Gaming, Security, Spectacle Entertainment, Station Casinos, Texas, The Strip, Tourism, Transportation, Tribal, Wynn Resorts | 2 Comments

Wall Street meets Las Vegas, Part I

Posted on March 12, 2021 by David McKee

JP Morgan analysts conducted a pilgrimage to Las Vegas to meet with the top brass of Big Gaming. First up was MGM Resorts International, represented by CEO Bill Hornbuckle, CFO Jonathan Halkyard and BetMGM CEO Adam Greenblatt. They see positive … Continue reading →

Posted in Arizona, Atlantic City, Barstool Sports, Caesars Entertainment, California, Conventions, Detroit, DraftKings, Economy, Illinois, Indiana, Lake Tahoe, Las Vegas Sands, Louisiana, Macau, Maryland, MGM Resorts International, Michigan, Mississippi, New York, Ohio, Penn National, Reno, Singapore, Sports, Sports betting, Texas, The Strip, Tourism, Transportation, Tribal, TV, William Hill | 2 Comments

Chicago gets serious; Ohio recovering but Missouri swoons

Posted on March 10, 2021 by David McKee

Chicago Mayor Lori Lightfoot (D), having received 11 expressions of interest in a megaresort (two of them an exacta by MGM Resorts International and MGM Growth Properties) is ready to issue a request for proposals sometime next month. We’ll then … Continue reading →

Posted in Arizona, Bally, Barstool Sports, Boyd Gaming, Caesars Entertainment, Churchill Downs, Detroit, DraftKings, FanDuel, Florida, Hard Rock International, Illinois, Indiana, Las Vegas Sands, MGM Resorts International, Missouri, Nevada, Ohio, Penn National, Pennsylvania, Politics, Rush Street Gaming, Sports betting, Taxes, The Strip, Tourism, Tribal, Wall Street, Wynn Resorts | 2 Comments

Mixed signals from Vegas; It’s all good in Atlantic City

Posted on February 23, 2021 by David McKee

Is the new year bringing a Las Vegas comeback? If you set store by anecdotal evidence, things look relatively normal on Fremont Street. God knows Downtown could use a dose of normality, especially after a December devoutly to be forgotten. … Continue reading →

Posted in AGA, Architecture, Barstool Sports, Boyd Gaming, Caesars Entertainment, Detroit, Downtown, Economy, Election, Golden Nugget, Hawaii, Health, Horseracing, Illinois, Indiana, International, Internet gambling, Iowa, Kansas, Las Vegas Sands, Lotteries, Louisiana, Macau, Massachusetts, MGM Resorts International, Michigan, Mississippi, Missouri, New Jersey, New York, Ohio, Penn National, Pennsylvania, Politics, Problem gambling, Regulation, Sports betting, Technology, The Strip, United Kingdom, Virginia, Wall Street, Wynn Resorts | 2 Comments

MGM revisited; Mixed month for Indiana

Posted on February 12, 2021 by David McKee

Today it was Credit Suisse analyst Ben Chaiken‘s turn to weigh in on MGM Resorts International‘s 4Q20 numbers and he found even more to like than did Joseph Greff yesterday. Leading with Macao, Chaiken saw MGM China capturing more of … Continue reading →

Posted in Barstool Sports, Boyd Gaming, Caesars Entertainment, Colorado, Dan Lee, Donald Trump, DraftKings, FanDuel, Full House Resorts, Galaxy Entertainment, Genting, Hard Rock International, Illinois, Indiana, Internet gambling, Japan, Jim Murren, Las Vegas Sands, Macau, Marketing, Massachusetts, MGM Resorts International, Mohegan Sun, Movies, New York, Penn National, Regulation, Sociedade de Jogos de Macau, Spectacle Entertainment, Sports betting, Steve Wynn, The Mob, The Strip, Tribal, Wall Street, Washington State, Wynn Resorts | 2 Comments

Penn survives bad quarter; Summer gaming recover possible

Posted on February 4, 2021 by David McKee

Penn National Gaming reported 4Q20 earnings today and they were down 23% from last year. Many reasons were cited, including lower consumer spending, casino closures in Illinois, Michigan and Pennsylvania, and new restrictions in Ohio and Maine. Oh yes, and … Continue reading →

Posted in Barstool Sports, Cretins, Dining, Health, Illinois, Indiana, LVCVA, Maine, Michigan, Movies, New Jersey, Ohio, Penn National, Pennsylvania, Sports, Sports betting | 2 Comments

Profile in cowardice; Sheldon Adelson’s ghost

Posted on January 27, 2021 by David McKee

We were sure this was a story from The Onion or the Babylon Bee but, no, it’s really a thing. Rodney Baker has resigned as CEO of Great Canadian Gaming Corp. after bringing disgrace upon it with a vaccination caper … Continue reading →

Posted in Architecture, Boulder Strip, Boyd Gaming, Caesars Entertainment, Canada, Churchill Downs, Cretins, Culinary Union, DraftKings, FanDuel, Health, Illinois, Indiana, Law enforcement, MGM Resorts International, PointsBet, Politics, Regulation, Sheldon Adelson, Sports, Sports betting, Tennessee, Tribal, Wall Street, William Hill, Wynn Resorts | 2 Comments

Louisiana doldrums; Philadelphia Live sparkles

Posted on January 22, 2021 by David McKee

Does reporting bad news get tedious? You bet! But it comes with the turf. Louisiana casino winnings declined 23% last month, in keeping with the national average. Penn National Gaming casinos got off easiest, slipping 11%, while Boyd Gaming ones … Continue reading →

Posted in Animals, Bally, Baseball, Boyd Gaming, Caesars Entertainment, Churchill Downs, Colorado, Connecticut, Cordish Co., CQ Holdings, Cretins, Dining, DraftKings, Economy, FanDuel, FoxBet, Foxwoods, Golden Nugget, Health, Illinois, Indiana, Internet gambling, Jim Murren, Law enforcement, Louisiana, Marketing, Massachusetts, MGM Resorts International, Mohegan Sun, Nevada, New Jersey, Penn National, Pennsylvania, Politics, Rush Street Gaming, Sports, Tennessee, Wall Street, West Virginia, William Hill | 3 Comments

Adelson rolling in grave; Police blotter

Posted on January 21, 2021 by David McKee

It’s a good thing Sheldon Adelson didn’t live to see this. The First Circuit Court of Appeals quashed a 2019 reinterpretation of the Federal Wire Act by the Justice Department, one that broadly applied it to Internet gambling. The federal … Continue reading →

Posted in Cosmopolitan, Donald Trump, Economy, Hard Rock International, Harry Reid, Health, Indiana, Internet gambling, Las Vegas Sands, Law enforcement, Michigan, Nevada, New Hampshire, New York, PointsBet, Politics, Regulation, Sheldon Adelson, Spectacle Entertainment, Sports betting, Taxes | 1 Comment

Flynt winning in California; Caesars S.I. to Cherokee?

Posted on January 18, 2021 by David McKee

Larry Flynt continues to be the de facto leader of California‘s card room industry. He’s fighting in court against a Golden State law that prevents card room owners from holding stakes in out-of-state casinos. (Flynt in Las Vegas? Imagine!) When … Continue reading →

Posted in Caesars Entertainment, California, Card rooms, Cordish Co., Indiana, Macau, MGM Resorts International, North Carolina, Pennsylvania, Regulation, Tribal | 1 Comment

Chilly in Atlantic City, deep freeze in Detroit; Siegfried, R.I.P.

Posted on January 14, 2021 by David McKee

Casino revenues in Atlantic City plunged 29% last month. “Results for the month reflect the negative impact of higher new COVID-19 cases in recent weeks, capacity limits and restrictions on F&B offerings, similar to other regional markets,” writes JP Morgan … Continue reading →

Posted in Atlantic City, Bally, Barstool Sports, Caesars Entertainment, Centaur Gaming, Derek Stevens, Detroit, Dining, Donald Trump, DraftKings, Entertainment, FanDuel, Golden Nugget, Hard Rock International, Health, Indiana, International, Internet gambling, Las Vegas Sands, MGM Resorts International, Mohegan Sun, New Jersey, Ocean Resort, Penn National, Pennsylvania, PointsBet, Politics, Regulation, Spectacle Entertainment, Sports betting, Station Casinos, The Strip, Tribal, Unite-Here, Wall Street | 4 Comments

Covid cramps casino revenues; Trop LV in play … again

Posted on January 13, 2021 by David McKee

Now that the smartest man in the room has left the building permanently, we continue to wait for Wall Street‘s reaction to Sheldon Adelson‘s demise. Hearing none, we move on to varying degrees of decline in regional gaming, once thought … Continue reading →

Posted in Arizona, Atlantic City, Bally, Barstool Sports, Boyd Gaming, Caesars Entertainment, California, Carl Icahn, Century Casinos, Conventions, DraftKings, Economy, FanDuel, Full House Resorts, GLPI, Health, Indiana, Kentucky, Massachusetts, MGM Resorts International, Missouri, Penn National, Politics, Rush Street Gaming, Sheldon Adelson, Singapore, Spectacle Entertainment, Sports betting, The Strip, Tilman Fertitta, Tribal, William Hill | 1 Comment

Pigskin parade

Posted on December 24, 2020 by David McKee

In spite of high hold percentages and no brick-and-mortar venues, Tennessee sports books came out of the blocks at a blinding pace. November handle was $131.5 million, the most for any first month in any state, ever. (Indiana debuted at … Continue reading →

Posted in DraftKings, Economy, FanDuel, Indiana, Las Vegas Raiders, MGM Resorts International, New Jersey, Sports, Sports betting, Steve Wynn, Tennessee, William Hill, Wynn Resorts | 4 Comments

Miller: Approve stimulus bill; A $7.5 billion Vegas “scam”?

Posted on December 23, 2020 by David McKee

Like many, American Gaming Association President Bill Miller is in favor of the stimulus package overwhelmingly passed by Congress … with reservations. It lacks three key items on Miller’s Christmas wish list: expansion of the CARES Act Employee Retention Tax … Continue reading →

Posted in AGA, Atlantic City, Caesars Entertainment, Charity, Colorado, Dining, Donald Trump, DraftKings, Economy, Environment, Failsinos, Florida, Hard Rock International, Indiana, Laughlin, Massachusetts, MGM Resorts International, Mississippi, Penn National, Politics, Sports, Sports betting, Tourism, Tribal, TV, Wynn Resorts | 4 Comments

State of Misery

Posted on December 10, 2020 by David McKee

Missouri was indeed the State of Misery last month, as casino win plummeted 18.5% to $118 million. Penn National Gaming casinos bore the brunt, plunging 27%. Overall, slot revenues of $102 million were down 17.5% while table win of $16 … Continue reading →

Posted in AGA, Boyd Gaming, Caesars Entertainment, Economy, Full House Resorts, Health, Indiana, Missouri, Penn National, Politics, Sports, Sports betting, Tony Hsieh, Twin River, Wall Street | 1 Comment

Wall Street crowns DraftKings; Hsieh: Grey Goose vs. cold turkey

Posted on December 7, 2020 by David McKee

Credit Suisse analyst Ben Chaiken is initiating coverage of DraftKings but not getting carried away. He’s put a “neutral” rating on the heavily hyped stock, with a $48 price target that mirrors its recent trading range. “We believe there is … Continue reading →

Posted in Barstool Sports, Caesars Entertainment, California, China, Colorado, Culinary Union, DFS, DraftKings, e-sports, FanDuel, Health, Illinois, Indiana, Internet gambling, Marketing, New Jersey, Pennsylvania, Politics, Prostitution, Tony Hsieh, Tourism, Tribal, Wall Street, William Hill | Comments Off on Wall Street crowns DraftKings; Hsieh: Grey Goose vs. cold turkey

Gaming slows across Midwest … except in Ohio

Posted on November 13, 2020 by David McKee

Caesars Entertainment CEO Tom Reeg must have dropped some extra-potent LSD before his last investor call. His comments were summarized by one auditor as, “When we get into a Post-COVID world Pent-Up demand you’re going to see for Gaming And … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Cordish Co., Dan Gilbert, Detroit, DraftKings, Economy, FanDuel, Full House Resorts, Golden Gaming, Hard Rock International, Indiana, Las Vegas Raiders, Maryland, MGM Resorts International, Ohio, Penn National, Spectacle Entertainment, Sports, Sports betting, Twin River, West Virginia, William Hill | Comments Off on Gaming slows across Midwest … except in Ohio

Wynn winning; Flyover Country keeps Caesars aloft

Posted on November 6, 2020 by David McKee

Wynn Resorts reported 3Q20 results yesterday and the headline item was Macao, where operating results were “soft” but “encouraging,” despite “negative to apathetic investor sentiment,” according to JP Morgan analyst Joseph Greff. Mass-market wagering was up 40% and credit issued … Continue reading →

Posted in Atlantic City, Caesars Entertainment, Colorado, Conventions, Culinary Union, Dining, Diversity, Donald Trump, Economy, Election, Golden Gaming, Hard Rock International, Indiana, Internet gambling, Louisiana, Macau, Majestic Star, Maryland, Massachusetts, Michigan, Nevada, New Jersey, Planet Hollywood, Politics, Reno, Slot routes, Sports betting, The Rio, The Strip, Tourism, Wall Street, William Hill, Wynn Resorts | 2 Comments

MGM “unsurprising”; Penn outperforms

Posted on October 30, 2020 by David McKee

Analysts at JP Morgan were blasé about MGM Resorts International‘s 3Q20 report, setting their price target at $22/share. Wrote Joseph Greff, “We remain Neutral rated as we continue to see a slow recovery on the LV Strip, a market that … Continue reading →

Posted in California, Charity, Churchill Downs, Colorado, Conventions, Detroit, Dining, Economy, Illinois, Indiana, Internet gambling, Kentucky, Macau, MGM Resorts International, Penn National, Pennsylvania, Slot routes, Sports betting, The Strip, Tribal, Virgin Hotels, Wall Street | 2 Comments