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Category Archives: Maryland
MGM’s seven steps; Culinary throws tantrum
Add MGM Resorts International to the roster of Las Vegas companies announcing reopening protocols. (Earth to Caesars Entertainment, come in Caesars … ) The company calls it a “comprehensive, multi-layered approach resulting from months of consultations and guidance from public … Continue reading
Boston buoys Wynn, Penn leans on Barstool
Wynn Resorts was one of three biggies to report 1Q20 results late last week and the Las Vegas Strip was the least of its problems. Wynn Las Vegas and Encore had net revenue of $324 million, down 19% from last … Continue reading
Posted in Atlantic City, Caesars Entertainment, CityCenter, DraftKings, Economy, FanDuel, Florida, Golden Gaming, history, Illinois, Indiana, Internet gambling, Las Vegas Sands, Macau, Maine, Marketing, Maryland, Massachusetts, MGM Resorts International, Penn National, Pennsylvania, Slot routes, Sports, Sports betting, Taxes, The Strip, Tourism, Wall Street, Wynn Resorts
3 Comments
Colorado sports betting a hit; REIT bides its time
Sports betting came out of the gate strong in Colorado. One of the surprises was the amount of handle on the Los Angeles Lakers. Said DraftKings odds guru Johnny Avello, “One of the things I did find interesting was the Lakers … Continue reading
Posted in Baseball, Boyd Gaming, Colorado, DraftKings, e-sports, Eldorado Resorts, FanDuel, GLPI, Health, Horseracing, Illinois, Louisiana, Maryland, Mesquite, Pinnacle Entertainment, Sports, Sports betting, Wall Street
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Sands shakes off doldrums; MGM sitting pretty
Las Vegas Sands posted a Covid-19 impacted 1Q20. Room rates nudged upward year/year from $263 to $266, at 87% occupancy, resulting in a decline in revenue per available room from $249 to $199. Sands was modestly down at the tables, … Continue reading
Macao bad, worse to come; No casinos for Brazil
“With the government keeping limitations on individual and group visas into the market and transportation options remaining impaired we believe the Macau market could take five to seven months to start stabilizing and showing improvement,” Stifel Financial analyst Steven Wieczynski … Continue reading
Posted in Atlantic City, Caesars Entertainment, China, Connecticut, Dining, Economy, Foxwoods, Galaxy Entertainment, Hard Rock International, Health, history, International, Internet gambling, Japan, Las Vegas Sands, Macau, Maryland, Melco Resorts & Entertainment, MGM Resorts International, Mohegan Sun, Ocean Resort, Politics, Scientific Games, Station Casinos, Taxes, Wall Street, Wynn Resorts
1 Comment
Maryland craters; Penn takes Trop loss
Free State Gov. Larry Hogan (R) having closed casinos on March 16, revenue results were predictably dire, down 58%. That’s a measly $69 million gross. MGM National Harbor booked $26 million, a 58.5% slide, with slots down 62% and tables … Continue reading
Posted in Caesars Entertainment, Churchill Downs, Cordish Co., Detroit, Donald Trump, Economy, Eldorado Resorts, GLPI, Golden Gaming, Health, Las Vegas Sands, Law enforcement, Maryland, Massachusetts, MGM Resorts International, Penn National, Politics, Real Estate, Sheldon Adelson, Sports betting, The Strip, Wall Street, West Virginia, Wynn Resorts
3 Comments
Trop sale: More fizzle than sizzle
Remember how Penn National Gaming tantalized us with its sale process for the Tropicana Las Vegas, hinting at a bidding war and outright predicting a massive cash haul for the company? Well, Penn was evidently so bereft of suitors that yesterday it … Continue reading
Posted in GLPI, Maryland, Penn National, Pennsylvania, The Strip
2 Comments
Life after casinos; Sheldon is george
“The situation continues to evolve and will escalate rapidly and dramatically. These are unprecedented actions in an extraordinary situation, but they could be the difference in saving lives and keeping people safe.” So said Maryland Gov. Larry Hogan (R) on Sunday, … Continue reading
Posted in Atlantic City, Boyd Gaming, Caesars Entertainment, California, China, Cordish Co., e-sports, Economy, Entertainment, Foxwoods, Health, Horseracing, Internet gambling, Las Vegas Sands, Maryland, Massachusetts, MGM Resorts International, Mississippi, Mohegan Sun, Nevada, Oklahoma, Pennsylvania, Politics, Rush Street Gaming, Sheldon Adelson, Sports, Sports betting, The Strip, Tourism, Tribal, TV, Wisconsin
1 Comment
Tough times return to Atlantic City; KY Derby delayed
As we saw earlier today, Las Vegas and Reno are pretty badly screwed for at least the next month. What about perennial problem child/comeback kid Atlantic City? Just when it’s back on its feet and roaring again, along comes Coronavirus … Continue reading
Posted in AGA, Atlantic City, California, Dining, Economy, Election, Health, Horseracing, Internet gambling, Kentucky, Macau, Maryland, MGM Resorts International, New York, North Carolina, Regulation, South Carolina, Sports betting, Taxes, Tilman Fertitta, Tourism, Tribal, TV, Wall Street, Washington State
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Turnaround in Springfield; Coping with Covid-19
Although it seems supremely beside the point at this grave moment, it’s time to report February’s gaming-revenue numbers from Massachusetts. Casinos in the state grossed some $86 million, with $52.5 million of that made at Encore Boston Harbor, with 61% … Continue reading
Posted in Australia, California, Canada, Crown Resorts, Eldorado Resorts, Entertainment, Health, Horseracing, International, Macau, Maryland, Massachusetts, MGM Resorts International, Ohio, Penn National, Philippines, Regulation, Reno, Tourism, Tribal, Wynn Resorts
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Casino closures sweep the country
We’re all going through what are called “adjustment reactions,” including casino executives across the country. They’d like to stay open for business—many are—but others are being forced to close or making the difficult choice to go dark on their own. … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Conventions, Cordish Co., Derek Stevens, Downtown, e-sports, Economy, Eldorado Resorts, Health, IGT, Illinois, Indiana, Las Vegas Sands, Maryland, Massachusetts, Melco Resorts & Entertainment, MGM Resorts International, New York, Ohio, Pennsylvania, Scientific Games, Sports, Station Casinos, The Strip, Wall Street, Wynn Resorts
1 Comment
Gaming stocks immune to rally; Casinos get serious about coronavirus
Gaming stocks by and large didn’t feel the love on Wall Street yesterday, trending slightly downward, not counting 9% rallies for Station Casinos and Melco Resorts & Entertainment (the latter the only Macao operator to bounce back). The market recouped … Continue reading
Posted in AGA, Alex Meruelo, Atlantic City, Boyd Gaming, Caesars Entertainment, Cosmopolitan, Current, Detroit, Dining, Donald Trump, Economy, Eldorado Resorts, Florida, Health, Lake Tahoe, Las Vegas Sands, Macau, Maryland, Massachusetts, Maverick Gaming, Melco Resorts & Entertainment, MGM Resorts International, Michigan, Penn National, Phil Ruffin, Reno, Rhode Island, Sahara, South Dakota, Sports betting, Station Casinos, Taxes, The Strip, Tilman Fertitta, Tourism, Transportation, Vermont, Wall Street, Washington State, Wynn Resorts
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Vegas vs. virus II; Illinois, Maryland rally
Two presumed cases of coronavirus have been reported in Nevada. What’s the over/under on when panic sets in? Me, I’m contemplating a trip back to Las Vegas in the near future, so I’m working on my sangfroid. As one tourist … Continue reading
Odds favor Bloomberg; Hilton returns to Vegas
As Saturday’s Nevada caucus nears, South Point oddsmaker Jimmy Vaccaro is boldly going where none of his colleagues have gone before, posting presidential odds. We’ll break them down by category. Vaccaro has Sen. Bernie Sanders (I), as expected, winning Nevada … Continue reading
Posted in Baseball, China, Connecticut, Cretins, Culinary Union, Election, International, Internet gambling, Kentucky, Las Vegas Sands, Law enforcement, Macau, Maryland, Massachusetts, Mattress Mack, MGM Resorts International, Nevada, New Hampshire, Politics, Resorts World LV, Sahara, Scientific Games, Sports betting, Taxes, Technology, The Strip
1 Comment
Atlantic City looking good; Murren calls it quits
An extra weekend day helped nudge Atlantic City casinos up 8% last month, for a $192 million gross. Tables were relatively sluggish (+1%) but slots were hot (+11%). Borgata gained 8.5% on the strength of 4.5% more table win—despite 3% … Continue reading
Posted in Atlantic City, Caesars Entertainment, China, CityCenter, Conventions, Detroit, Eldorado Resorts, Hard Rock International, Health, Internet gambling, Japan, Maryland, Massachusetts, MGM Resorts International, Mississippi, Mohegan Sun, Morris Bailey, Nevada, New Jersey, New York, Ocean Resort, Ohio, Sports, Sports betting, Technology, The Strip, Tilman Fertitta, Wall Street
3 Comments
New deadline for Oklahoma; Nevada casinos notch new high
Chief U.S. District Judge Timothy DeGiusti has placed the ball on compact renewal squarely back in Oklahoma‘s court. However, he has—to mix metaphors—split the baby quite fairly. And he’s given everyone a ticking clock to make a deal. Both sides are to … Continue reading
MGM, Cordish boom in Maryland; Here come the robots
Turns out the Maryland market hasn’t quite been saturated, after all. January saw 6% growth in gambling revenue, led by MGM National Harbor‘s $58.5 million (+4%). Slots at MGM were up 10% but table win down 2%. MGM had 40% … Continue reading
Posted in Caesars Entertainment, China, Churchill Downs, Cordish Co., Entertainment, Golden Gaming, Japan, Maryland, MGM Resorts International, Movies, Ohio, Penn National, Planet Hollywood, Technology, The Strip, West Virginia
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Springfield: The boss hits town
After a worst-month-ever December at MGM Springfield, company CEO Jim Murren has apparently had enough. He flew into Springfield today to put a bit of stick about, as the Brits would say. His ostensible purpose is to hang out with the … Continue reading
Posted in Baseball, Boyd Gaming, Caesars Entertainment, Churchill Downs, Eldorado Resorts, Entertainment, GLPI, history, Louisiana, Maryland, Massachusetts, MGM Resorts International, Movies, Penn National, Sports, Sports betting, The Strip
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Maryland maxed out; Adelson’s $40 million lesson
Casino revenues in the Free State continue to be flat. Maryland gambling houses grossed $149 million last month. MGM National Harbor‘s $62.5 million—a 4.5% gain—led the state. Slots were down 2% at MGM but table win up 12%, a development … Continue reading
Posted in Caesars Entertainment, Churchill Downs, Cordish Co., Downtown, Environment, Golden Gaming, Harry Reid, Las Vegas Sands, Law enforcement, Maryland, MGM Resorts International, Penn National, Sheldon Adelson, Technology, Terry Caudill
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Japan scandal grows; Caesars slammed
Japan‘s 500.com bribery case continues to spread. An additional five Nipponese lawmakers have been implicated, accused of taking $9,249. The notion that Japanese solons would sell their souls for such chump change indicates how desperately they want to get in on the … Continue reading