Category Archives: Lotteries

The wrath of Icahn

Posted on June 11, 2019 by David McKee

Investment bankers BidaskClub aren’t buying Caesars Entertainment. Literally. In an almost-unheard-of development in gaming, Bidask put a “sell” recommendation on low-priced CZR shares. Perhaps this reflects caution over Caesars’ still-massive debt overhang or of the additional debt that would be … Continue reading →

Posted in Arizona, Caesars Entertainment, Carl Icahn, CityCenter, Cosmopolitan, DFS, Eldorado Resorts, Illinois, Lotteries, Mandalay Bay Massacre, MGM Resorts International, Regulation, Resort fees, Sports betting, The Strip, Tilman Fertitta, Tribal, Wall Street, West Virginia | Comments Off on The wrath of Icahn

Wire Act reversal reversed; China scare for Las Vegas

Posted on June 10, 2019 by David McKee

A federal judge dealt a major defeat to the Justice Department in its efforts to reinterpret the Federal Wire Act as a ban on Internet gambling. Nope, only sports betting ruled Judge Paul Barbadoro. The ruling is a boon to … Continue reading →

Posted in Atlantic City, Caesars Entertainment, Economy, Eldorado Resorts, Entertainment, Florida, Hard Rock International, Indiana, International, Internet gambling, Law enforcement, Lotteries, Marketing, Mohegan Sun, Ocean Resort, Palms, Pennsylvania, Regulation, Seminole Tribe, Sheldon Adelson, Singapore, Sports betting, Station Casinos, Tourism, Tribal, Unite-Here, Wall Street, World Series of Poker | Comments Off on Wire Act reversal reversed; China scare for Las Vegas

Soggy month in Louisiana; IGT on firm ground

Posted on May 21, 2019 by David McKee

Gaming revenues were down 5.5% last month in the Bayou State, particularly unimpressive when you consider that they fell 8% in the same month last year.  The statewide gross was $199.5 million. The Shreveport/Bossier City market suffered least, down 3%, … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Eldorado Resorts, IGT, International, Lotteries, Louisiana, Penn National, Sports betting, Taxes, Wall Street, Wynn Resorts | Comments Off on Soggy month in Louisiana; IGT on firm ground

Quote of the Day

Posted on May 14, 2019 by David McKee

“The need for additional money to support state programs is real, and the money will either come from more taxes or other sources. One of those sources could be legalized gambling, so why does Alabama always have to be the … Continue reading →

Posted in Alabama, Lotteries, Taxes | Comments Off on Quote of the Day

MGM, Adelson tussle for Japan; Wynn pouts over fine

Posted on May 13, 2019 by David McKee

Everybody wants to be in Osaka, now that it’s open for casino development and the Osakanese government strongly covets a casino, one hopefully that would be open in time for the 2025 World Expo. Among the entrants, Las Vegas Sands, … Continue reading →

Posted in Dining, Galaxy Entertainment, Genting, Japan, Las Vegas Sands, Lotteries, Massachusetts, Melco Resorts & Entertainment, MGM Resorts International, Mohegan Sun, Politics, Regulation, Singapore, Sports betting, Transportation, Tribal, Wynn Resorts | Comments Off on MGM, Adelson tussle for Japan; Wynn pouts over fine

Wynn disappoints, MGM expectations managed

Posted on May 13, 2019 by David McKee

Although Wynn Resorts reported $1.6 billion in revenue for 1Q19, Credit Suisse analyst Ben Combes called the numbers “disappointing … We remain Neutral on WYNN, given macro uncertainty and policy risk in Macau and China. Our forward macro indicators are … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Crown Resorts, Eldorado Resorts, Full House Resorts, Indiana, Lotteries, Macau, MGM Resorts International, Penn National, Scientific Games, Spectacle Entertainment, Sports, The Strip, Tribal, Wall Street, Wynn Resorts | Comments Off on Wynn disappoints, MGM expectations managed

Solid month for Maryland; Casino sale aborted

Posted on May 7, 2019 by David McKee

Maryland casino revenues inched up to $145 million last month, led by MGM National Harbor with $61 million and 42% of market share. Maryland Live, no surprise, was second with 33% and $48 million (+2%). Horseshoe Baltimore grossed $20 million … Continue reading →

Posted in Atlantic City, Caesars Entertainment, Churchill Downs, Cordish Co., GLPI, Golden Gaming, Illinois, Internet gambling, Iowa, Lotteries, Macau, Maryland, Melco Resorts & Entertainment, MGM Resorts International, Missouri, Mohegan Sun, Nebraska, Penn National, Politics, Regulation, Sports betting, Tribal, TV, Wall Street, West Virginia | Comments Off on Solid month for Maryland; Casino sale aborted

Seminoles to the rescue; Rosenstein’s mess

Posted on April 30, 2019 by David McKee

Florida could move from the “no” into the “yes” column on sports betting. Maybe. A new compact with the Seminole Tribe would incorporate sports betting into the mix of games permitted in the Sunshine State. Gov. Ron DeSantis (R) is keeping … Continue reading →

Posted in Delaware, Economy, Florida, Genting, Horseracing, Law enforcement, Lotteries, New York, Politics, Rush Street Gaming, Seminole Tribe, Sheldon Adelson, Sports betting, Technology | Comments Off on Seminoles to the rescue; Rosenstein’s mess

Nevada: Strip weak, locals strong; Busing it to Macao

Posted on April 25, 2019 by David McKee

Las Vegas Strip gambling revenues were down 4% last month to $552 million. Some of that is attributable to an impossible baccarat comparison. In March 2018, baccarat win was up 118%. Last month it was down 56% on 43% less … Continue reading →

Posted in Animals, Architecture, Arkansas, Australia, Boulder Strip, Downtown, Lake Tahoe, Laughlin, Lotteries, Macau, Mesquite, Nevada, New Mexico, North Las Vegas, Reno, South Korea, Sports betting, The Strip, Tourism, Transportation, Tribal | 1 Comment