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Category Archives: Internet gambling
Barstool buy buoys Penn Nat’l; MGM’s ad blitzkrieg
JP Morgan analysts upped their near- and long-term cash flow estimates for Penn National Gaming, based on regional trends and sports betting. “While we recognize PENN’s impressive share price outperformance, and many sell-side firms have thrown in the towel with … Continue reading
Posted in Arizona, Boyd Gaming, Caesars Entertainment, Churchill Downs, Dining, Donald Trump, Downtown Grand, DraftKings, FanDuel, Hard Rock International, Health, Illinois, Internet gambling, Iowa, Marketing, MGM Resorts International, Michigan, Nevada, New Jersey, Penn National, Pennsylvania, Problem gambling, Sports, Sports betting, Station Casinos, Wall Street
1 Comment
Caesars here, Caesars there, Caesars everywhere
Caesars Entertainment got a vote of confidence from JP Morgan analyst Daniel Politzer today, largely on the strength of its regional portfolio, as well as its potency in the sports-betting sphere. Regional trends were described as “better than expected,” and … Continue reading
Caesars, MGM: Recovery slow but promising
Caesars Entertainment CEO Tom Reeg sat down with JP Morgan analysts to discuss the state of the Roman Empire. In a sentence, better than you might expect. On the Las Vegas Strip “weekend demand has been strong, but weekday demand … Continue reading
Posted in Atlantic City, Baseball, Caesars Entertainment, China, Conventions, DraftKings, FanDuel, Florida, history, Horseracing, Illinois, Indiana, Internet gambling, Las Vegas Raiders, Louisiana, Macau, MGM Resorts International, New York, Penn National, Pennsylvania, Sports, Sports betting, The Crown 18, The Strip, TV, Wall Street
3 Comments
Macao moots casino closures; Stevens vs. William Hill
Here it comes. Again. The government of Macao is taking a zero-tolerance policy toward Covid-19. Although there hasn’t been a case in four months (good for them), the enclave is floating the idea of shutting down any casino where a … Continue reading
Primary special: Markey wins, Trump closes betting gap
In a win for sites like PredictIt, Sen. Edward Markey (D) beat Rep. Joe Kennedy (D) 55% to 45%. The futures market went from 2-to-1 for Kennedy to an even more lopsided favoritism of Markey even before Massachusetts polls showed … Continue reading
Posted in Donald Trump, Election, Internet gambling, Massachusetts
1 Comment
Mega-Jottings for a Monday
Churchill Downs got its second-worst-case scenario for the Kentucky Derby: The September 5 race will have to be held without spectators, a major economic blow to the Louisville area. At least the race will be run and undoubtedly garner much … Continue reading
Posted in Arizona, Atlantic City, Churchill Downs, Derek Stevens, Downtown, Economy, Entertainment, Environment, GLPI, Health, Horseracing, Internet gambling, Kentucky, Louisiana, Macau, MGM Resorts International, New Mexico, Penn National, Reno, Sigma Derby, Sports betting, The Strip, Tribal, Virgin Hotels
1 Comment
Keystone State casinos go begging; IRS: DFS is gambling
What if they gave a casino and nobody came? How about six casinos? That’s the problem faced by Pennsylvania, whose Lege over-optimistically authorized 10 satellite casinos, dollar signs dancing in their heads. The first couple of rounds of bidding were … Continue reading
Baby steps in Massachusetts, leaps and bounds in Pennsylvania
Given that Plainridge Park didn’t reopen until July 8, and Encore Boston Harbor and MGM Springfield not for two more days after that, it’s wholly understandable that Massachusetts gambling revenue was down 44% last month. JP Morgan analyst Joseph Greff … Continue reading
Posted in Arizona, Boyd Gaming, Caesars Entertainment, DraftKings, El Cortez, FanDuel, Greenwood Racing, Internet gambling, Law enforcement, Massachusetts, Mohegan Sun, New Jersey, Penn National, Pennsylvania, Rush Street Gaming, Sports betting, Tribal, Wall Street, Westgate LV, Wynn Resorts
1 Comment
Miller dares Adelson; Room rates reel
Late last week American Gaming Association President Bill Miller did something radical about Internet gambling. He discussed it. On a conference call. With reporters. Unprompted. You have to understand that ‘Net betting has been a no-fly zone for the AGA … Continue reading
Posted in AGA, Caesars Entertainment, Card rooms, Economy, Geoff Freeman, Internet gambling, Las Vegas Sands, Maverick Gaming, MGM Resorts International, Mohegan Sun, Penn National, Rush Street Gaming, Sheldon Adelson, The Strip, Tilman Fertitta, Wall Street, Washington State, Wynn Resorts
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The big enchilada
“The Biggest Gaming Opportunity Since Riverboats in the Early ’90s.” That’s how JP Morgan gaming analyst Joseph Greff, a man not given to hype, characterized i-gaming and sports betting today. He described them as “as an emerging and exciting area … Continue reading
Posted in Caesars Entertainment, California, Colorado, Cosmopolitan, DraftKings, FanDuel, Golden Nugget, Illinois, Indiana, Internet gambling, Iowa, Isle of Capri, Las Vegas Sands, MGM Resorts International, Michigan, MTR Gaming, Palms, Penn National, Regulation, Rush Street Gaming, Silverton, Sports betting, The Strip, Tropicana Entertainment, Wall Street, William Hill
2 Comments
Atlantic City impresses in July
It reopened in somewhat raggle-taggle fashion but Atlantic City is back and did rather better in July than Las Vegas in June (the last month for which we have data, see video below). Borgata made a very delayed re-entry into … Continue reading
Pinching pennies at Caesars; Glitters at Golden
Anthony Rodio‘s multi-million-dollar revamp of Bacchanal Buffet may well have been for naught. On yesterday’s earnings call the Tom Reeg administration floated the idea of closing all buffets at Caesars Entertainment properties. Expect comps to be sweated until they bleed … Continue reading
Posted in Arizona, Caesars Entertainment, Colorado, Dining, Donald Trump, Economy, Election, Florida, Golden Gaming, Hard Rock International, Health, International, Internet gambling, Louisiana, Marketing, Mississippi, Nevada, Penn National, Pennsylvania, Problem gambling, Seminole Tribe, The Strip, Tourism, Tribal, Wall Street, Wynn Resorts
1 Comment
Maryland rebounds; Penn wows Wall Street; Trump to play Lucky Dragon
In a near-miraculous development, Maryland gambling revenues were only 6% off the pace last month. Between cabin fever and the belated delivery of those $1,200 stimulus checks, we’re not entirely surprised that Free State punters had both the desire and … Continue reading
Posted in Alabama, Arizona, Boyd Gaming, Caesars Entertainment, Churchill Downs, Cordish Co., Donald Trump, Election, Florida, Georgia, Golden Gaming, Health, Internet gambling, Lotteries, Lucky Dragon, Maryland, MGM Resorts International, Mississippi, Nevada, New Mexico, New York, North Carolina, Penn National, Pennsylvania, Racinos, Sports, Sports betting, Texas, The Strip, Tilman Fertitta, Tribal, TV, Wall Street, West Virginia
2 Comments
Churchill Downs, Boyd impress analysts
Churchill Downs‘ second quarter was “solid” (Daniel Politzer) to say the least. Revenue shot past Wall Street‘s consensus expectation of $132 million to ring the bell at $185 million. Credit goes to a 27% increase in Internet-gaming revenue, including $100 … Continue reading
Posted in Boyd Gaming, Churchill Downs, Downtown, Economy, FanDuel, Horseracing, Illinois, Internet gambling, Kentucky, Slot routes, Sports betting
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It’s Coronavirus’ world, we just live in it
Some days it just doesn’t pay to be Oklahoma Gov. Kevin Stitt (R). He’s lost authority over the eastern half of the Sooner State. How? The U.S. Supreme Court—hardly a hotbed of bleeding-heart liberals—ruled that historical claims by the Muscogee … Continue reading
Posted in Arizona, Baseball, Caesars Entertainment, Economy, Election, Health, Internet gambling, Iowa, Marketing, Nebraska, Nevada, North Carolina, Oklahoma, Politics, Racinos, South Carolina, Sports betting, Taxes, Tribal
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Case Bets
Something good came out of Washington, D.C. today. (How often can one type that sentence?) Reps. Dina Titus (D) and Guy Reschenthaler (R) introduced bipartisan legislation to repeal the excise taxes and head taxes (a $50 annual levy on every … Continue reading
Posted in AGA, Caesars Entertainment, China, Dining, DraftKings, Entertainment, GLPI, Golden Nugget, Health, Illinois, Internet gambling, Michael Gaughan, Philippines, Politics, Regulation, Sports betting, Taxes, Terry Caudill, TV, Virgin Hotels
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Giant dildo at large in Sin City; Scientific pleases, disappoints
Who was that masked man anyway? A daring thief casually strolled into Deja Vu Love Boutique, made his way over to “Moby,” a giant dildo (approximately three feet long) and walked right out the door with it. The whale-sized self-pleasuring … Continue reading
Caesars: Meet the new bosses; Graham grandstands
VitalVegas got its hands on Caesars Entertainment internal document bearing the grinning visage of COO Anthony Carano. It outlined a restructuring of the company’s top executive ranks into nine divisions headed by an overwhelmingly WASP-y, male cohort. (Soon to become … Continue reading