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Category Archives: Louisiana
Hurricanes batter Louisiana revenues
If it weren’t for bad luck and worse luck, Louisiana might have none at all. Not only does Isle Grand Palais on Lake Charles remain closed after being ripped from its moorings by Hurricane Laura, the state was battered by … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, GLPI, Golden Nugget, Louisiana, Penn National, Twin River
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Wynn winning; Flyover Country keeps Caesars aloft
Wynn Resorts reported 3Q20 results yesterday and the headline item was Macao, where operating results were “soft” but “encouraging,” despite “negative to apathetic investor sentiment,” according to JP Morgan analyst Joseph Greff. Mass-market wagering was up 40% and credit issued … Continue reading
Posted in Atlantic City, Caesars Entertainment, Colorado, Conventions, Culinary Union, Dining, Diversity, Donald Trump, Economy, Election, Golden Gaming, Hard Rock International, Indiana, Internet gambling, Louisiana, Macau, Majestic Star, Maryland, Massachusetts, Michigan, Nevada, New Jersey, Planet Hollywood, Politics, Reno, Slot routes, Sports betting, The Rio, The Strip, Tourism, Wall Street, William Hill, Wynn Resorts
2 Comments
Park MGM re-closes; Gaming’s 2020 mandate
No, it’s got nothing to do with the smoking ban. Well, maybe. MGM Resorts International, as we mentioned yesterday, has decided it has too much hotel-room inventory going to waste on the Las Vegas Strip. As part of an austerity … Continue reading
Posted in Caesars Entertainment, Churchill Downs, Colorado, Dining, Economy, Election, Golden Gaming, Hard Rock International, Iowa, Louisiana, Maryland, MGM Resorts International, Nebraska, North Carolina, Penn National, Racinos, Regulation, Rush Street Gaming, Taxes, The Strip, Tourism, Tribal, Virginia, Wall Street
1 Comment
Election Special: “The biggest political event ever”
An anonymous British financier will have to wait another 24 hours to find out if his $5 million bet on Donald Trump comes up a winner. He’ll pocket $15 million from Curaçao bookies if it does. The flutter, made after … Continue reading
Buy, sell, lease, buy, sell, lease …; Election: What’s at stake
In an elaborate transaction, Caesars Entertainment sold Tropicana Evansville to Gaming & Leisure Properties Inc. for $340 million, after which the lease on the casino will revert to Twin River Holdings, which will pay $28 million a year for the … Continue reading
Posted in Caesars Entertainment, Colorado, Cretins, Delaware, Donald Trump, Downtown, Election, GLPI, Indiana, Louisiana, Maryland, Racinos, South Dakota, Sports, Sports betting, The Strip, Twin River, Virginia
2 Comments
Trop in trouble; Sands has a plan; Super Bowl to Vegas?
We know that the Tropicana Las Vegas is being positioned for a sale (potentially to Twin River Holdings) but does that alone explain the pink-slipping of 828 employees, a drastic move? Placed in the context of other cutbacks, like the … Continue reading
Kings for a day; Covid’s casino kingpin
As you know, DraftKings is the current darling of Wall Street, its stock hovering around $50/share. Today Credit Suisse analyst Ben Chaiken initiated coverage with an “outperform” rating, putting a $76/share price target on the stock. He even went to … Continue reading
Posted in Atlantic City, Australia, Brazil, Caesars Entertainment, California, China, Crown Resorts, DraftKings, Economy, FanDuel, Golden Nugget, Health, IGT, Illinois, Internet gambling, Japan, Lake Tahoe, Las Vegas Raiders, Las Vegas Sands, Law enforcement, Lotteries, Louisiana, Macau, Maverick Gaming, MGM Resorts International, Nebraska, Rush Street Gaming, Sports, Sports betting, Technology, The Strip, Tilman Fertitta, TV, Twin River, Wall Street, Wynn Resorts
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
Louisiana hard hit; Mohegan Sun, Foxwoods tops in U.S.
Slammed by a double-whammy of hurricanes, Louisiana was accordingly unfortunate in gambling revenue, which plunged 32% to $148.5 million. The only market spared was Baton Rouge (-12%). Lake Charles bore the brunt of Hurricane Laura and the numbers reflected it. … Continue reading
Posted in Arizona, Atlantic City, Boyd Gaming, Caesars Entertainment, Churchill Downs, Cosmopolitan, Derek Stevens, Dining, Donald Trump, Downtown Grand, Election, Foxwoods, Golden Nugget, Hard Rock International, Health, Illinois, Indiana, Las Vegas Raiders, Las Vegas Sands, Louisiana, Marketing, Massachusetts, MGM Resorts International, Mississippi, Mohegan Sun, Ocean Resort, Oklahoma, Penn National, Reno, Sahara, Sheldon Adelson, Slot routes, Sports betting, Station Casinos, Tamares Group, The Strip, Tourism, Transportation, Tribal, Twin River, Wynn Resorts
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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
Usher to play the Strip and other doings at Caesars
What does Tom Reeg know that the rest of us don’t? In the first big contract signing since the Covid-19 pandemic (still playing an extended engagement in Las Vegas) hit, Caesars Entertainment has inked a deal with Usher to play … Continue reading
Culinary, Caesars, MGM make peace; IGT does a Kerouac
Instead of butting heads in court, the Culinary Union, Caesars Entertainment and MGM Resorts International put their noggins together, and came up with a set of worker-safety protocols to implemented on a company-wide basis. That still leaves a lot of … Continue reading
New York game-changer; MGM sticks it to servers
What Jim Murren and Sheldon Adelson couldn’t do, New York state Sen. James Skoufis (D) just might. With four upstate casinos still closed and the state budget pummeled by the economic effects of Coronavirus, Skoufis is proposing that the state … Continue reading
Posted in Australia, Caesars Entertainment, Cretins, Economy, Election, Environment, Health, International, Jim Murren, Louisiana, Macau, MGM Resorts International, Mississippi, New York, Ohio, Politics, Problem gambling, Regulation, Sheldon Adelson, Unite-Here, Virginia
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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
Dispatch from Louisiana; Generosity at Wynncore
Gaming revenue was down 11% last month, not bad considering. The gross was $177.5 million. Lake Charles was easily the most popular market, with $72 million overall. Golden Nugget snared $27.5 million of that (-1%), followed by L’Auberge Lake Charles‘ … 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
Shopping the Trop; Nobu no-no
An unnamed hotel-casino on the Las Vegas Strip is being quietly advertised on private-equity forums. It’s listed as a “brand name” property that’s been in operation for over 30 years. The age would seem to suggest The Mirage (born 1989) … Continue reading
Posted in Affinity Gaming, Boulder Strip, Boyd Gaming, California, CityCenter, Connecticut, Cosmopolitan, Current, Dining, Downtown, Election, GLPI, Hard Rock International, Health, Hooters, Las Vegas Sands, Law enforcement, Louisiana, Massachusetts, Maverick Gaming, MGM Resorts International, Mohegan Sun, Nevada, North Las Vegas, Penn National, Planet Hollywood, Politics, Real Estate, Sheldon Adelson, Singapore, Station Casinos, The Rio, The Strip, Transportation, Tribal, Twin River, Virgin Hotels, Wall Street, Wynn Resorts
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History repeats itself, this time as farce
Caesars Entertainment is now Eldorado Resorts‘ bitch and, as Scott Roeben reports, there’s already reason to be concerned, starting with layoffs at Caesars Palace. New CEO Tom Reeg is apparently wasting no time sending employees to the firing squad. He … Continue reading
Casinos unleash Culinary’s wrath
Las Vegas‘ casino industry seems to be behaving counterintuitively, reopening casinos and hotels (Vdara is the latest) at a time when visitor demand is softening. JP Morgan analyst Joseph Greff reports today that, for the July 11-18 period, Clark County … Continue reading
Posted in Arizona, Caesars Entertainment, CityCenter, Cosmopolitan, Culinary Union, Economy, Eldorado Resorts, Florida, Health, Hooters, International, Iowa, Lake Tahoe, Las Vegas Sands, Louisiana, Macau, Mississippi, Missouri, Nevada, Paragon Gaming, Politics, Sports, Station Casinos, Wall Street, Westgate LV
2 Comments