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- 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
Palms brings $650 million; Murphy flirts with smoking ban
Earlier today, Station Casinos finally confirmed the worst-kept secret in town. It has sold the Palms Casino Resort to a subsidiary of the San Manuel Band of Mission Indians in an all-cash, $650 million transaction. Thus closes a fairly disastrous … Continue reading
Posted in Atlantic City, California, Churchill Downs, Colorado, Cordish Co., Culinary Union, Dining, DraftKings, Golden Nugget, Health, Horseracing, Internet gambling, Las Vegas Raiders, Maryland, MGM Resorts International, Mississippi, Nevada, New Jersey, Palms, Penn National, Real Estate, Station Casinos, Tribal, Wall Street
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Nevada recovery skips Strip; Boyd buoyant
Silver State casinos grossed $1 billion last month, with the Las Vegas Strip down 9% from 2019 to $501.5 million but locals-derived win vaulting 23%, leading to a 4% statewide increase on pre-Coronavirus numbers. The silver lining for the Strip … Continue reading
Posted in Architecture, Aristocrat, Atlantic City, Boulder Strip, Boyd Gaming, Caesars Entertainment, Canada, Churchill Downs, CityCenter, Cordish Co., Downtown, Hawaii, Health, Horseracing, Internet gambling, Kentucky, Lake Tahoe, Laughlin, Marketing, Massachusetts, MGM Resorts International, North Las Vegas, Penn National, Pennsylvania, Real Estate, Reno, Resorts World LV, Riviera, The Strip, Tourism, Tribal, Vietnam, Virginia, Wall Street, Wynn Resorts
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Big win for Seminoles?; Parx the deadliest track of all
Florida Gov. Ron DeSantis (R) succeeded where predecessor Rick Scott failed, inking a pact with the Seminole Tribe that would unlock the $35o million a year that the Seminoles have been holding in escrow. In return, the tribe gets a … Continue reading
Posted in Animals, Bally, BetMGM, Boyd Gaming, Caesars Entertainment, Churchill Downs, Cirque du Soleil, Cordish Co., Crown Resorts, Downtown, DraftKings, Entertainment, FanDuel, Florida, Greenwood Racing, Hawaii, Horseracing, Internet gambling, James Packer, Las Vegas Sands, Massachusetts, MGM Resorts International, New York, Ohio, Pennsylvania, Politics, Regulation, Seminole Tribe, Sports betting, Taxes, Tennessee, The Strip, Transportation, Virginia, Wall Street, William Hill, Wynn Resorts
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BetMGM “very credible”; Recovery at Sands “gradual”
That’s how JP Morgan analyst Joseph Greff described an evidently persuasive virtual meeting with BetMGM covering the latter’s recent results and strategic objectives. “To us, this was a credible presentation (particularly with its customer acquisition and retention objectives and operating … Continue reading
Posted in Alabama, Atlantic City, Bally, California, Canada, China, Cosmopolitan, Culinary Union, Dotty's, DraftKings, Economy, FanDuel, Illinois, Internet gambling, Las Vegas Sands, Louisiana, Macau, Marketing, MGM Resorts International, Michigan, Mohegan Sun, Nevada, New Jersey, New York, Ocean Resort, Politics, Regulation, Singapore, Slot routes, Texas, The Strip, Tribal, Wall Street, Wynn Resorts
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Atlantic City disappoints, Internet gambling doesn’t
We’re going to have revise our prediction that Atlantic City would recover from Covid-19 faster than Las Vegas. Not at the rate things are going. March casino win was down 17% from 2019, coming in at $185 million. The Caesars … Continue reading
Posted in Alabama, Arizona, Atlantic City, Bally, Caesars Entertainment, China, DraftKings, FanDuel, Florida, Golden Nugget, Hard Rock International, Health, Internet gambling, Lotteries, MGM Resorts International, Mohegan Sun, New Jersey, New York, Ocean Resort, Pennsylvania, Philippines, Politics, Regulation, Seminole Tribe, Sports, Sports betting, Taxes, The Strip, Tribal, Wall Street, William Hill, Wynn Resorts
3 Comments
Strip sux but locals steadfast; Virgin LV loses its virginity
Things simply have to get better on the Las Vegas Strip. Not even a Feb. 15 capacity increase saved some casinos from perdition. Let’s hope February represented a bottoming-out of gaming revenues, as tourists starting flocking back this month. Strip … Continue reading
Posted in Architecture, Boulder Strip, Boyd Gaming, Caesars Entertainment, California, Dining, Downtown Grand, Economy, Entertainment, Illinois, Internet gambling, Lake Tahoe, Las Vegas Raiders, Laughlin, Mesquite, MGM Resorts International, Michigan, North Las Vegas, Penn National, Pennsylvania, PokerStars, Regulation, Reno, Technology, The Strip, Virgin Hotels, Wendover
1 Comment
Las Vegas: Are happy days here again?; Sands dibs NYC
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
Trop sale teased; Michigan sports betting explosive
Gaming & Leisure Properties Inc. hosted JP Morgan analysts last week and tried to get them all hot and bothered with talk of a Tropicana Las Vegas sale. It said it felt one would happen sooner, not later, adding that … Continue reading
Posted in Caesars Entertainment, Churchill Downs, Detroit, DraftKings, FanDuel, FoxBet, Genting, GLPI, Health, Internet gambling, Las Vegas Sands, MGM Resorts International, Michigan, Nevada, New Jersey, Penn National, Pennsylvania, PointsBet, Politics, Real Estate, Rush Street Gaming, Sports, Sports betting, The Strip, Tribal, Wall Street, William Hill, Wynn Resorts
6 Comments
Wall Street meets Las Vegas, Part II
Station Casinos dispatched Executive Vice President Rodney Atamian to meet with JP Morgan analysts last week. According to Joseph Greff, he reported, “solid/improving visitation and spend per visit trends.” A possible increase in Nevada casino-capacity limits to 50% should propel … Continue reading
Posted in Boulder Strip, Boyd Gaming, Caesars Entertainment, Downtown, Economy, FanDuel, Golden Gaming, Hawaii, Health, Internet gambling, Las Vegas Sands, Louisiana, Macau, Marketing, Maryland, Massachusetts, MGM Resorts International, Nevada, New Jersey, Palms, Penn National, Pennsylvania, Slot routes, Sports betting, Station Casinos, The Strip, Tourism, Wall Street, William Hill, Wynn Resorts
3 Comments
Maryland: More gamblers = more money; Illinois improving
What will prompt recovery in gaming? Stimulus money, yes, but we got a strong indicator of something else out of Maryland last weekend. Overall, casino revenues were down 16.5% but the story is more complicated than that. At facilities restricted … Continue reading
Posted in AGA, Australia, Bally, Boyd Gaming, Caesars Entertainment, Canada, Churchill Downs, Connecticut, Cordish Co., Crown Resorts, DraftKings, FanDuel, Foxwoods, Golden Gaming, Illinois, Internet gambling, Iowa, Maryland, MGM Resorts International, Mohegan Sun, Penn National, Problem gambling, Sports, Sports betting, TV, Wall Street, West Virginia, William Hill
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New Yorkers want more casinos; More death on the Strip
While the last round of casino expansion in New York State was no better than a succes d’estime, Empire Station residents are still behind a planned 2023 enlargement that would bring three new resorts. Given the choice of casinos, higher … Continue reading
Posted in California, DFS, DraftKings, Genting, Georgia, Internet gambling, Las Vegas Sands, Law enforcement, Macau, Melco Resorts & Entertainment, MGM Resorts International, Michigan, Nevada, New Jersey, New York, Politics, Racinos, Scientific Games, Sports betting, Station Casinos, Taxes, Technology, Tennessee, The Strip, Tilman Fertitta, Tribal, Unite-Here, Wall Street, Wynn Resorts
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Roman Empire conquers Venice
In a dramatic, dead-of-night deal, Las Vegas Sands sold The Venetian and Palazzo to a REIT/private-equity combo of Vici Properties and Apollo Management for $6.25 billion. Vici and Apollo obviously have a considerable appetite for risk on the Las Vegas … Continue reading
Sports bets a hit in Virginia; Vegas recovery an iffy prospect
Online sports betting was quick out of the gate in Virginia—$59 million in handle in 11 days—although books spent so much money acquiring customers that they took a loss on the month. “Debuting ahead of the NFL’s conference championship games … Continue reading
Posted in Atlantic City, Bally, Caesars Entertainment, Canada, Conventions, DraftKings, Economy, FanDuel, Health, history, IGT, Internet gambling, Las Vegas Sands, Lotteries, LVCVA, Marketing, Maryland, MGM Resorts International, Michigan, Resort fees, Rhode Island, Rush Street Gaming, Scientific Games, Sports betting, Tennessee, The Strip, Tourism, Transportation, United Kingdom, Virgin Hotels, Virginia, Wall Street, William Hill, Wynn Resorts
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Hope in the Roman Empire; DraftKings rules
Although it tried to flash Wall Street some ankle yesterday, Caesars Entertainment’s 4Q20 numbers failed to surprise analysts. In a reverse image of the rest of the industry, better-than-expected cash flow on the Strip (cost-cutting?) was “more than offset” by … Continue reading
Posted in Caesars Entertainment, California, China, Colorado, Conventions, DraftKings, Economy, Health, Illinois, Internet gambling, Louisiana, Macau, Marketing, Melco Resorts & Entertainment, Movies, Real Estate, Sports, Sports betting, Tamares Group, Taxes, The Strip, Tourism, Wall Street
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