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- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
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Category Archives: Lake Tahoe
Strip treads water in May; Penn a big hit in Massachusetts
For all the hoopla about the (fixed?) Mayweather-Pacquiao fight, Strip gaming revenues sent mixed signals. The game that matters most, baccarat, saw somewhat less play (-7%) but the house got beaten badly, its winnings down 36%. By contrast, all other … Continue reading
Posted in Alabama, Atlantic City, Boulder Strip, Downtown, Economy, Harrah's, Lake Tahoe, Laughlin, Massachusetts, MGM Mirage, North Las Vegas, Penn National, Regulation, Reno, Transportation, Wall Street, Warner Gaming
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Mohegans, Foxwoods get go-ahead; More trouble for Caesars
Driven by apocalyptic job-loss projections by Foxwoods Casino Resort and Mohegan Sun, the House of Representatives of Connecticut passed a casino bill to Gov. Dannel Malloy (D) for his signature. The bill doesn’t authorize a casino per se but rather … Continue reading
Posted in Atlantic City, Economy, Foxwoods, Glenn Straub, Harrah's, International, Internet gambling, Lake Tahoe, Massachusetts, MGM Mirage, Mohegan Sun, Penn National, Steve Wynn, Technology, The Strip, Trump Entertainment Resorts, Warner Gaming
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Good April for Vegas; Frankie the Fish and Sister Sandra
Baccarat play on the Las Vegas Strip improved by double-digit numbers for the second month in a row, up 14% in April, contributing to an 8% upward surge on the Strip. Baccarat revenues rose 5%, while all other table games … Continue reading
Posted in Australia, Boyd Gaming, Donald Trump, Downtown, Economy, Lake Tahoe, Laughlin, Macau, Marketing, Mississippi, North Las Vegas, Philippines, Politics, Regulation, Reno, Sheldon Adelson, Station Casinos, The Strip, Vietnam
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Las Vegas’ robust January; Measles in a casino
January was good for the State of Nevada (+8%) but especially powerful for the Las Vegas Strip, up 15%. The casinos played lucky, with baccarat winnings up 68.5%, despite 13.5% less being wagered. Strip slot revenues were up 4%, even … Continue reading
Posted in Boulder Strip, Boyd Gaming, Downtown, Economy, Environment, Fontainebleau, Lake Tahoe, Laughlin, MGM Mirage, New York, North Las Vegas, Riviera, The Strip, Wall Street
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Straub still hearts Revel; Setback in Indiana
Glenn Straub‘s abusive/co-dependent relationship with Revel AC continues, even though federal bankruptcy court has driven a stake through his $95 million purchase agreement for the beached whale of a casino. As Judge Gloria Burns, who has presided over the soap … Continue reading
Posted in Atlantic City, Glenn Straub, Harrah's, history, Indiana, Lake Tahoe, Politics, Revel, South Dakota, Taxes, Wall Street
2 Comments
Case Bets: IGT, Hard Rock, Golden Gaming
Profits were slimmer for International Game Technology in 1Q15, with the company reporting $35 million, 56% less than a year ago. IGT, which is in the process of being acquired by GTECH, offered little commentary on the results. CEO Patti … Continue reading
Posted in Colorado, Columbia Sussex, Dining, Harrah's, Lake Tahoe, Lyle Berman, Maryland, Regulation, Sam Nazarian, Slot routes, Warner Gaming
1 Comment
Loveman succeeds: Caesars bankrupt
Not wasting any time, CEO Gary Loveman put Caesars Entertainment Operating Co. into Chapter 11 today, filing the motion in Chicago to circumvent a Delaware lawsuit. (The reason for the Windy City filing may go a lot deeper than proximity … Continue reading
Posted in Boyd Gaming, Delaware, Economy, GLPI, Harrah's, Illinois, Lake Tahoe, Louisiana, Mississippi, New York, Penn National, Pinnacle Entertainment, Racinos, The Strip, Tilman Fertitta, Wall Street
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Slots drive Vegas; Big change at Foxwoods
Las Vegas Strip casino revenues fell 6% last month, largely thanks to soft table play. Deutsche Bank analyst Carlo Santarelli characterized slot play as “encouraging and driven primarily by volume,” as the Strip recorded its sixth consecutive month of increased … Continue reading
Posted in Boulder Strip, Delaware, Downtown, Entertainment, Foxwoods, Lake Tahoe, Laughlin, Mohegan Sun, North Las Vegas, Racinos, Slot routes, Taxes, The Strip, Wall Street
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Wild, wild East; Fertitta remembered
Imagine a Las Vegas in which to play you were required to lay out at least $65 … and where the average minimum bet was $270, maybe even $320. You’d have Macao, whose players dwarf Vegas’ ($20 average minimum bet) … Continue reading
Tempers fray in Macao; Wynn honored
One union’s “industrial action” is another company’s “dialogue.” That’s the Rashomon-like situation playing out at MGM Grand Paradise in Macao. Earlier this month, Forefront of the Macao Gaming announced that a weekend work-to-rule would take place at MGM. Dealers were … Continue reading
Posted in Harrah's, Lake Tahoe, Macau, MGM Mirage, Sheldon Adelson, Stanley Ho, Steve Wynn, Tropicana Entertainment, Warner Gaming
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Ivey loses & sundry Case Bets
Phil Ivey won’t be edge-sorting cards anytime soon. A British judge has ruled that, whether he knew it or not, Ivey was cheating when he won $12 million at Crockfords, a Genting Group casino in London. “He gave himself an advantage … Continue reading
Posted in Atlantic City, California, Columbia Sussex, Election, Genting, Indiana, International, Japan, Lake Tahoe, Ohio, Penn National, Pinnacle Entertainment, Regulation, Station Casinos, Taxes, Tourism, Tribal, Wall Street, Warner Gaming
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USA Today: Those evil casinos!
With the gaming industry temporarily exhausted from over-expansion and saturation, USA Today has chosen this moment to pounce with an anti-gambling editorial. The graybeards on the USA Today editorial board clearly haven’t been paying close attention — racinos in Delaware, … Continue reading
Posted in Boulder Strip, Boyd Gaming, Cretins, Delaware, Downtown, Economy, Geoff Freeman, Lake Tahoe, Laughlin, Neil Bluhm, North Las Vegas, Pennsylvania, Reno, The Strip, Tourism, Wall Street
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Recovery in Vegas? It depends on where you stand
July was a mixed blessing for Nevada. Gambling revenue was up 5% along the Strip, down 4% among locals and essentially flat statewide. Strip casinos won big at baccarat, with player losses increasing 16% on 24% heavier play. Non-Strip baccarat play … Continue reading
Posted in Boulder Strip, Downtown, Isle of Capri, Lake Tahoe, Laughlin, Macau, MGM Mirage, Missouri, North Las Vegas, Reno, Taxes, The Strip, Tribal, Wisconsin
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Great month for the Strip, for Louisiana not so much
Buoyed by heavy baccarat play, the Las Vegas Strip registered a 22.5% gain in June. The house played very lucky, too, with win up a staggering 155%. At the other end of the gaming spectrum, those slots must have been … Continue reading
Marrandino returns; Crime and casinos
It’s hard to say which is the more intriguing aspect of the announced reinvention of Lake Tahoe‘s Horizon Casino Resort. Is it the adoption of the Hard Rock brand or the re-emergence of Don Marrandino as the man who’s going … Continue reading
Posted in Atlantic City, Columbia Sussex, Harrah's, Lake Tahoe, Pennsylvania, Taxes, Warner Gaming
1 Comment
Vegas: A return to the halcyon years? It looks that way
Las Vegas recorded its highest visitation numbers of all time last March, helping to drive gambling revenue 8% upward. We had 3.7 million tourists, 4% than the previous year. Despite fewer conventions, a 20.5% leap in convention attendance (with the … Continue reading
Posted in Downtown, Economy, Harrah's, Lake Tahoe, Laughlin, Mesquite, MGM Mirage, North Las Vegas, Ohio, Pennsylvania, Reno, Sam Nazarian, Tourism, Wall Street
1 Comment
Gambling: It’s not what it used to be
Nevada‘s casino industry is still in the Great Recession, if profits and losses are anything by which to go. Posting their fifth consecutive year of losses, they were $1.35 billion in the red, on $24 billion in revenues. No surprise, … Continue reading
Posted in Animals, Dining, Downtown, Economy, Entertainment, Lake Tahoe, Laughlin, Planet Hollywood, Reno, Sheldon Adelson
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Penn tanks in Illinois, Bluhm ascends; The casino transfer that wasn’t
There were two clear winners in Illinois last month and one big loser — Penn National Gaming. Performing worse than expected, Penn had double-digit declines at all four of its casinos: Empress Joliet (-14%), Hollywood Aurora (-14%), Alton Belle (16%) … Continue reading
Posted in Boyd Gaming, Dan Gilbert, Detroit, Harrah's, Horseracing, Lake Tahoe, Massachusetts, Neil Bluhm, Penn National, Regulation, Taxes
1 Comment
Save the whales; Boffo contract in Wisconsin
824 grand. That’s how much online poker revenue Nevada generated in February, the first month in which it has reported such numbers. (Sheldon Adelson‘s fear of Internet poker is like an elephant cowering before a mouse.) Since online play went … Continue reading
Posted in Boulder Strip, Downtown, Economy, Foxwoods, Internet gambling, Lake Tahoe, Laughlin, Massachusetts, MGM Mirage, North Las Vegas, Sheldon Adelson, Steve Wynn, Tribal, Wall Street, Wisconsin
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Boyd under siege? Tight (slots) on the East Coast
Yesterday, Elliott Management announced that it owns 5% of Boyd Gaming. Shares of the company, which had closed just under $12, opened at $14. But is this a vote of confidence in Boyd? According to Seeking Alpha, “Elliott has a … Continue reading
Posted in Atlantic City, Boyd Gaming, Columbia Sussex, Florida, Internet gambling, Lake Tahoe, Laughlin, Neil Bluhm, New York, Pennsylvania, Pinnacle Entertainment, Regulation, Reno, Technology, Tourism, Tropicana Entertainment, Wall Street, West Virginia
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