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Category Archives: MGM Resorts International
MGM boffo; Establishment freaks out over sports betting
“Viva Las Vegas” was the headline on Credit Suisse analyst Ben Chaiken‘s recap of 4Q21 earnings from MGM Resorts International. Wall Street expected $2.8 billion in revenue and $705 million in cash flow. MGM delivered $3.1 billion and $821 million, … Continue reading
Posted in BetMGM, Caesars Entertainment, Canada, Conventions, Cosmopolitan, DFS, Donald Trump, DraftKings, Election, Entertainment, Florida, Hard Rock International, Hawaii, Health, Illinois, Japan, Las Vegas Sands, Lotteries, Macau, Marketing, Mattress Mack, MGM Resorts International, Nevada, New York, Problem gambling, Seminole Tribe, Sports, Sports betting, Station Casinos, Steve Wynn, Taxes, Technology, The Strip, Wall Street, Wynn Resorts
3 Comments
Atlantic City revisited; Oscars: Year of The Dog
Bally’s Atlantic City and Golden Nugget traditionally jockey for last place in Atlantic City monthly gaming grosses. Indeed, a midweek visit to Bally’s by our East Coast correspondent found the place practically deserted (and in need of more capex $$). … Continue reading
Everybody wins; ‘Adele’ debuts; Ohio and Maryland prosper
Let’s start the day with a rare, feel-good story about an invalidated jackpot. Normally, these things go the way of the house. But not this time. On January 8, at Treasure Island, a player named Robert Taylor was playing the … Continue reading
Posted in Apollo Management, Aristocrat, Bally, BetMGM, Boyd Gaming, Caesars Entertainment, Churchill Downs, Cordish Co., DraftKings, Entertainment, FanDuel, Fontainebleau, Golden Gaming, Hard Rock International, Illinois, Louisiana, Macau, Maryland, Massachusetts, MGM Resorts International, Missouri, New York, Ohio, Palms, Penn National, Phil Ruffin, Regulation, Rush Street Gaming, Sports, Sports betting, The Strip, Tribal, United Kingdom, Wall Street, Wynn Resorts
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New boss at F-blue; Station: Five white guys; Atlantic City blitzed
Yes, Tom Brady has retired but there’s actually other news happening today. For starters, Fontainebleau has a new president. And not just any prexy but “a visionary leader for our next-generation luxury resort.” He’s Cliff Atkinson, late of Luxor. If … Continue reading
Posted in Atlantic City, Caesars Entertainment, CityCenter, Colorado, Culinary Union, Dining, Diversity, Fontainebleau, Hard Rock International, Horseracing, Illinois, Las Vegas Sands, Macau, MGM Resorts International, New York, Oregon, Pennsylvania, Real Estate, Singapore, Sports, Sports betting, Station Casinos, Taxes, The Strip, Tribal
2 Comments
Florida: Phhhhht …; Crackdown in Macao; Scandal at Parx
That hissing sound you hear is the air going out of DraftKings‘ and FanDuel‘s electoral balloon. Florida Education Champions, their front group for bringing online sports betting to the Sunshine State, folded its hand, conceding that it can’t get enough … Continue reading
Weekend jottings
Late last week, MGM Resorts International unveiled its plans for a BetMGM-branded sports book at State Farm Stadium in Arizona. No budget was announced for the facility but, given the infinitesimal amount of retail wagering in the Phoenix area, it’s … Continue reading
Posted in Arizona, BetMGM, Las Vegas Raiders, Mattress Mack, MGM Resorts International, Sports, Sports betting, The Strip, Tribal
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Illinois slouches; Boyd, Churchill praised; DraftKings assessed
Not even Rivers Casino Des Plaines was spared the impact of Hard Rock Rockford, as the newbie helped take a 4.5% bite out of Rivers’ December casino revenues compared to 2019, for a Des Plaines gross of $43 million, still … Continue reading
Posted in Arizona, Bally, Boyd Gaming, Caesars Entertainment, California, Canada, Churchill Downs, Connecticut, Downtown Grand, DraftKings, Election, Florida, Full House Resorts, Hard Rock International, Health, Illinois, Indiana, Internet gambling, Iowa, Isle of Capri, Las Vegas Sands, Louisiana, Maine, Maryland, Mattress Mack, MGM Resorts International, New York, Ohio, Penn National, Regulation, Singapore, Sports, Sports betting, Station Casinos, Taxes, Wall Street
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Meet the new National Harbor boss, same as the old boss
Maryland closed out 2021 hot, up 16% from 2019 with a gross of $173 million in December. As usual, MGM National Harbor was in the lead with $74.5 million. Maryland Live booked $62.5 million for a 20.5% gain and 36% … Continue reading
Posted in Alex Meruelo, Arizona, Atlantic City, Boyd Gaming, Caesars Entertainment, California, Churchill Downs, Dining, DraftKings, Economy, FanDuel, Golden Gaming, Health, Idaho, Indiana, Las Vegas Raiders, Louisiana, Macau, Marketing, Maryland, MGM Resorts International, Mississippi, Missouri, Nevada, New Hampshire, New Jersey, New York, Ohio, Oklahoma, Penn National, Pennsylvania, Rush Street Gaming, Sahara, Sports, Sports betting, Taxes, Technology, Tennessee, The Strip, Tourism, Tribal, Wall Street, World Series of Poker
Comments Off on Meet the new National Harbor boss, same as the old boss
Doldrums in Macao; “Love” in jeopardy; Mega-Jottings
There’s an Eeyore sweatshirt that says, “Could be worse. Not sure how, but it could be.” That pretty much sums up the situation in Macao, which finished 2021 44% ahead of 2020 when it comes to gambling revenue … but … Continue reading
Posted in Arizona, Atlantic City, Cirque du Soleil, Colorado, Cordish Co., Economy, Florida, Galaxy Entertainment, GLPI, Health, IGT, International, Lake Tahoe, Las Vegas Raiders, Las Vegas Sands, Laughlin, Law enforcement, Macau, Maryland, Melco Resorts & Entertainment, MGM Resorts International, North Carolina, Politics, Real Estate, Regulation, Sports betting, Taxes, Tribal, Wall Street, Washington State, Wynn Resorts
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Borgata behaving badly; Headless body in topless car
On the “george” side of the ledger we find Bally’s Atlantic City, which is offering room rates starting at $29/night through February 28, albeit on “select nights.” Hey, it’s a terrific way to raise awareness of the new-look Bally’s. As … Continue reading
Fear and loathing in Chicago; All’s well in Macao; Tribe comes back from nonexistence
It wouldn’t be a fight for a Chicago casino if it weren’t down and dirty—and it is. Bally’s Corp. already sounds desperate, throwing a Hail Mary pass in the form of a report that rival bidders Rush Street Gaming and … Continue reading
Posted in Bally, Chicago, Donald Trump, Galaxy Entertainment, Hard Rock International, Indiana, Japan, Lake Tahoe, Las Vegas Sands, Law enforcement, Macau, Massachusetts, MGM Resorts International, Real Estate, Regulation, Resort fees, Rhode Island, Rush Street Gaming, Tribal, TV, Wynn Resorts
2 Comments
Everybody wins in Massachusetts; Makeover for The Mirage
Massachusetts casinos bagged $88 million last month, a 12% boost over 2019. Encore Boston Harbor, predictably, was way, way out in front with $55 million, up 16.5%. Win was fairly even divided between slots ($30 million) and tables ($25 million), … Continue reading
Posted in Atlantic City, Australia, Cirque du Soleil, Cosmopolitan, Crown Resorts, Downtown, DraftKings, Election, Failsinos, FanDuel, Florida, Hard Rock International, Health, Marketing, Massachusetts, MGM Resorts International, New York, Penn National, Regulation, Seminole Tribe, Sports betting, Station Casinos, The Strip, Wall Street, Wynn Resorts
1 Comment
Mirage sold; Big win for Las Vegas; Bluhm, Reinsdorf clash in Chicago
In a billion-dollar coup, MGM Resorts International has sold the operations of The Mirage to Hard Rock International, a huge markup on Steve Wynn‘s 1989 creation—and Hard Rock isn’t even getting the underlying land! All this for 17X EBITDA, an … Continue reading
Posted in Architecture, Caesars Entertainment, Chicago, Cordish Co., Downtown, DraftKings, Economy, Hard Rock International, Health, Japan, MGM Resorts International, Mohegan Sun, New Jersey, Pennsylvania, Planet Hollywood, Politics, Rush Street Gaming, Scott Butera, Sports, Sports betting, Station Casinos, Steve Wynn, The Strip, TV, Virgin Hotels
4 Comments