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- Atlantic City rebounds; Sibella dumped; NFL suspicions
- MGM limping back; Atlantic City follies; Wall Street Jottings
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- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
- David McKee on Sibella scandal spreads; Supremes forestall Seminoles
- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
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Category Archives: Internet gambling
Caesars: Running numbers; Showboat is back
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
MGM: The first shall be last … or something like that
Closing out the J.P. Morgan Gaming & Lodging Management Access Forum were execs from MGM Resorts International. The company’s four priorities were stated as 1) drive organic growth, 2) bring new properties up to speed in terms of revenue performance, 3) … Continue reading
Eldorado explores Caesars takeover; MGM says ‘Play ball!’
Since corporate mergers, once begun, develop a momentum all their all own, it was inevitable that someone would step forward to explore a purchase of Caesars Entertainment, regardless of whether it is a good idea, risking a second bankruptcy. In … Continue reading
Posted in Architecture, Atlantic City, Baseball, Caesars Entertainment, Eldorado Resorts, Genting, Internet gambling, Japan, Las Vegas Sands, Law enforcement, Macau, Marketing, Melco Resorts & Entertainment, MGM Resorts International, New York, Politics, Sheldon Adelson, Sports, Tilman Fertitta
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Heavy action prophesied for March Madness; Death at Bellagio
“Unlike any other sporting event in the country, March Madness attracts millions who fill out brackets, make casual bets with friends or wager at a legal sports book, which Americans can now do more than ever before.” With those words … Continue reading
Meet the REITs; Station’s full platter
JP Morgan analysts met with MGM Growth Properties CEO James Stewart and CFO Andy Chien, whose assured them that MGP had a full pipeline of deals. (Could MGM Resorts International inoculate itself against the Federal Trade Commission by running a … Continue reading
Midwest report; Icahn caps his bet; Churchill Downs grows
Missouri was down 4% last month, no explanation given, with a statewide gross of $134 million. The decline was driven by lower slot play, as table-game revenues ($20 million) were up 7%. Penn National Gaming had a good result at … Continue reading
Posted in Affinity Gaming, Ameristar, Boyd Gaming, Caesars Entertainment, Carl Icahn, Churchill Downs, Eldorado Resorts, Internet gambling, Iowa, Isle of Capri, Kansas, Law enforcement, Michigan, Missouri, New Hampshire, New Jersey, Penn National, Pennsylvania, Sports, Sports betting
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Busy week for MGM; Adelson’s grim prognosis
Congratulations to MGM Resorts International on becoming the official casino sponsor of the Boston Red Sox (known around my house as “the Evil Empire”). I’m not sure how I feel about the MGM logo going up on the Green Monster, … Continue reading
Posted in Atlantic City, Baseball, Eldorado Resorts, history, Horseracing, Internet gambling, Japan, Las Vegas Sands, Laughlin, Massachusetts, MGM Resorts International, Michigan, Mississippi, Politics, Problem gambling, Real Estate, Regulation, Security, Sheldon Adelson, Sports, Sports betting, Steve Wynn, Taxes, Technology, Tribal, Tropicana Entertainment, William Hill
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MGM hires robots; Pariplay saves rhinos
VitalVegas beat the mainstream medium to the news that MGM Resorts International is bringing to the Las Vegas Strip something it’s been test-driving at MGM National Harbor and MGM Springfield: automated bartenders. As you might guess this is part of … Continue reading
More Tamares tomfoolery; MGM evicts Hard Rock brand
Tamares Group has been up to its usual shenanigans, using the Plaza Hotel as a stalking horse. The latter slapped a quickie eviction notice on the Beauty Bar, citing multiple incidents involving repeated calls to Las Vegas Metro as the … Continue reading
MGM, Eldorado, Churchill Downs looking up
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
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Sands: Buy Japanese; Gambling to come to Utah?
“It will be highly competitive, but I think the cards are stacked in the favor of those who are prepared, who have been working hard, who will have the best program, best strategy, the best understanding of the country, of … Continue reading
Posted in Atlantic City, DFS, Horseracing, Internet gambling, Japan, Kentucky, Las Vegas Sands, MGM Resorts International, Ocean Resort, PokerStars, Politics, Sheldon Adelson, Sports, Sports betting
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Caesars dominates Louisiana; Steve Wynn wins in Beantown
Gaming revenue in Louisiana was flat last month, with strength in Shreveport and New Orleans making up for weakness in (mainly) Baton Rouge and Lake Charles. It’s difficult to account for the 3% dip in Lake Charles, aside from the … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Eldorado Resorts, GLPI, Internet gambling, Louisiana, Massachusetts, Penn National, PokerStars, Politics, Regulation, Steve Wynn, Tilman Fertitta, Tropicana Entertainment, West Virginia
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Danger, Will Robinson!
At a time when states are suing the Trump administration to preserve their online lotteries, a Florida legislator is moving in the opposite direction. State Rep. Will Robinson has introduced a bill that would permit only in-person sales of Florida … Continue reading
Posted in California, Florida, Internet gambling, Nevada, New Hampshire, New Mexico, Politics, Problem gambling, Regulation, Texas
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MGM beats The Street
MGM Resorts International says it is no longer going to give Wall Street forward guidance on earnings. Why not? It beat its own forecasts by 3% on the Las Vegas Strip, 4% in its regional properties and 8% in all-important … Continue reading
Posted in International, Internet gambling, Macau, Massachusetts, MGM Resorts International, Politics, Rhode Island, Sports, Sports betting, The Strip, Wall Street
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Atlantic City: Ocean Resort stages a rally
Atlantic City is weathering the winter months about as well as can realistically be hoped. Same-store revenues were down 8% last month but up 9% overall. Ocean Resort ($12.5 million) actually crept past Bally’s ($12 million) and up on Resorts … Continue reading
Posted in Atlantic City, Boyd Gaming, Bruce Deifik, Caesars Entertainment, Churchill Downs, Dan Gilbert, Detroit, Eldorado Resorts, Genting, Greenwood Racing, Hard Rock International, Internet gambling, Las Vegas Sands, MGM Resorts International, Mohegan Sun, New Jersey, New York, Penn National, Pennsylvania, Racinos, Rush Street Gaming, Sports betting, Tilman Fertitta
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Churchill Downs pwns Caesars; Kentucky covets casinos
Cold weather helped chill Indiana casino revenues last month, down 6%. The Hoosier State’s casinos and racinos grossed $154 million. Horseshoe Southern Indiana continues to bleed business to Churchill Downs‘ Derby City, hemorrhaging 10% to $16.5 million. Full House Resorts … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, DFS, e-sports, Eldorado Resorts, Full House Resorts, Indiana, Internet gambling, Kentucky, Macau, Marketing, Massachusetts, MGM Resorts International, New York, Penn National, Politics, Racinos, Sports, Sports betting, Taxes, Technology, Tilman Fertitta, Wall Street, Wynn Resorts
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Atlantic City’s glass half-full; New Kentucky casino pitched
First, the good news: Casino-related employment in Atlantic City rose by 5,749 jobs last year, driven by Hard Rock Atlantic City and Ocean Resort, which added 6,927 souls to the work force. The bad news? Hiring remains otherwise stagnant, with Hard Rock … Continue reading
So long, Total Rewards; MGM goes to Yonkers
Despite one less weekend day than 2017, December was good for the Las Vegas Strip. Visitation was up over 2% and room revenues leapt 16% to an average of $104/room. This was particularly impressive given a 23% decline in convention … Continue reading
Posted in Caesars Entertainment, Economy, Harrah's, International, Internet gambling, Macau, Marketing, Massachusetts, MGM Resorts International, New York, Regulation, Sexual misconduct, Steve Wynn, Taxes, The Strip, Tourism, Transportation, Wynn Resorts
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Quote of the Day
“The January 15, 2019 Department of Justice … 1961 Wire Act Memorandum is not the final word on Internet gambling, it is just a fierce reminder that they are in charge of the conversation. However, their actions will be the real … Continue reading
Posted in Donald Trump, Internet gambling, Law enforcement
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Survey says: Las Vegas bad for NFL; Power struggle in Macao
Put me in the one-third of Americans surveyed who wouldn’t give up their annual bonus to see their team win the Super Bowl. That’s one of the findings of a WalletHub study that, incredibly (at least to me) ranks Las … Continue reading
Posted in Arkansas, Caesars Entertainment, California, Entertainment, Indiana, Internet gambling, Japan, Las Vegas Raiders, Lawrence Ho, Macau, Massachusetts, Melco Resorts & Entertainment, MGM Resorts International, Mohegan Sun, New Jersey, Ohio, Pansy Ho, Pennsylvania, Racinos, Regulation, Rush Street Gaming, Scientific Games, Sociedade de Jogos de Macau, Sports, Sports betting, Technology, Tourism, Wall Street, Wisconsin
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