Category Archives: MGM Resorts International

Caesars satisfies; Knee-Jerlecki response; Press-ed out

Posted on May 3, 2023 by David McKee

Wall Street analysts rolled over and lit a cigarette after hearing Caesars Entertainment‘s first-quarter earnings call. J.P. Morgan analyst Joseph Greff said the results were pretty much as expected “with Las Vegas Strip upside more (way more) than offsetting a … Continue reading →

Posted in Atlantic City, Bally, Conventions, Dining, Economy, Golden Nugget, Health, Indiana, Louisiana, Mesquite, MGM Resorts International, Missouri, Mohegan Sun, Nebraska, Ocean Resort, Ohio, Pahrump, Penn National, Reno, Sports betting, The Strip, Tourism, Transportation, Virginia, Wall Street, Wendover | 3 Comments

Macao propels MGM; Ohio sports betting scandal (again)

Posted on May 2, 2023 by David McKee

“Mac-Holy-Cau!” So exclaimed Truist Securities analyst Barry Jonas about MGM Resorts International‘s 1Q23 earnings statement. Fueled by better than expected grosses in Macao, MGM beat the Wall Street consensus for first-quarter cash flow by 8%. Cash flow was $1.25 billion … Continue reading →

Posted in Bally, Barstool Sports, Baseball, BetMGM, Boyd Gaming, Caesars Entertainment, Churchill Downs, Cosmopolitan, Culinary Union, DraftKings, FanDuel, Hard Rock International, Health, Jack Entertainment, Japan, Macau, Marketing, MGM Resorts International, Nebraska, New York, Ohio, Penn National, Racinos, Regulation, Rhode Island, Sports, Sports betting, The Strip, Tourism, Tribal, Wall Street | Comments Off on Macao propels MGM; Ohio sports betting scandal (again)

Pennsylvania, Lousiana flagging; All eyes on Macao

Posted on April 19, 2023 by David McKee

Casino winnings in Pennsylvania stuttered last month, hitting $311 million, flat with March 2022. Spreading more gaming wealth among a greater number of properties obviously isn’t helping on a same-store basis. Parx Casino maintained its supremacy with $53 million, despite … Continue reading →

Posted in Ameristar, Atlantic City, Barstool Sports, BetMGM, Boyd Gaming, Caesars Entertainment, California, Canada, China, Churchill Downs, Cordish Co., CQ Holdings, Detroit, DraftKings, FanDuel, FoxBet, Galaxy Entertainment, Golden Nugget, Greenwood Racing, Illitch Family, Internet gambling, Las Vegas Sands, Louisiana, Macau, Marketing, Massachusetts, Melco Resorts & Entertainment, MGM Resorts International, Michigan, Mohegan Sun, Ocean Resort, Penn National, Pennsylvania, PointsBet, Rush Street Gaming, Sociedade de Jogos de Macau, Sports, Sports betting, Station Casinos, The Strip, Tourism, Transportation, Tribal, WInd Creek, Wynn Resorts | 1 Comment

Atlantic City still up; Full House fuels diners; Japan payday?

Posted on April 17, 2023 by David McKee

Casino revenues were outstripped in New Jersey in March by i-gaming ones, $228.5 million to $253 million. But Atlantic City continued to be healthy, up 5.5%. Slot winnings were 1% higher on flat coin-in but table games did 7% better … Continue reading →

Posted in Atlantic City, Bally, Barstool Sports, BetMGM, Caesars Entertainment, Dining, DraftKings, FanDuel, Full House Resorts, Genting, Golden Nugget, Hard Rock International, Illinois, Internet gambling, Japan, MGM Resorts International, Mohegan Sun, New Jersey, New York, North Dakota, Ocean Resort, PointsBet, Politics, Rush Street Gaming, Shuffle Master, Singapore, Sports, Sports betting, Tribal, United Kingdom, Wall Street, Washington State, William Hill, Wynn Resorts | 1 Comment

Case Bets

Posted on April 14, 2023 by David McKee

Ohio‘s gaming industry continues to experience woes. Former lottery director Pat McDonald claims to have resigned for reasons of health. Gov. Mike DeWine (R) cites “HR irregularities.” Either way, McDonald’s out abruptly. Top members of DeWine’s staff personally escorted him … Continue reading →

Posted in Bally, Barstool Sports, BetMGM, Caesars Entertainment, China, DraftKings, FanDuel, Illinois, Japan, Lotteries, MGM Resorts International, Ohio, PointsBet, Rush Street Gaming, Sports betting, Tourism | Comments Off on Case Bets

Atlantic City blues

Posted on April 13, 2023 by David McKee

Atlantic City‘s first casino, Resorts Atlantic City, celebrated the 45th anniversary of legalized gambling on the Boardwalk in rather limp fashion. Highlights included a beachball drop and an appearance by Mayor Marty Small (D). Well, we suppose he’s got to … Continue reading →

Posted in Atlantic City, Bally, Caesars Entertainment, China, Dining, Entertainment, Golden Nugget, Hard Rock International, Law enforcement, Macau, Marijuana, Marketing, MGM Resorts International, Penn National, The Strip, West Virginia | Comments Off on Atlantic City blues

Illinois leaps, Indiana falls; Japan awakens; PointsBet blunder

Posted on April 12, 2023 by David McKee

Gambling revenues in Illinois were jolted 10% upward last month, hitting $131 million. This was driven by 15% greater visitation, customer spend being 4.5% lower. Most of the increase was driven by new product. Otherwise, the boost would have been … Continue reading →

Posted in Bally, Barstool Sports, BetMGM, Boyd Gaming, Caesars Entertainment, Century Casinos, Chicago, Churchill Downs, Culinary Union, DraftKings, FanDuel, Full House Resorts, Hard Rock International, Illinois, Indiana, International, Japan, Macau, MGM Resorts International, Missouri, Nevada, Penn National, PointsBet, Politics, Rush Street Gaming, Sports, Sports betting, The Strip, Wall Street, Wynn Resorts | 1 Comment

Control Board buffoonery; Super-Mega-Jottings

Posted on April 11, 2023 by David McKee

Well, it didn’t take Nevada Gaming Control Board member George Assad long to stick his foot in it. No sooner had we prophetically called him a regulatory “doofus” than news surfaced of some most-unbecoming conduct during an NGCB hearing. Specifically, … Continue reading →

Posted in Bally, BetMGM, Caesars Entertainment, Canada, Chicago, Cordish Co., Cretins, Detroit, Diversity, Downtown Grand, DraftKings, FanDuel, Genting, Hard Rock International, Health, history, Illinois, Japan, Jim Murren, Kansas, Kentucky, Las Vegas Sands, Louisiana, Macau, Massachusetts, MGM Resorts International, Missouri, Nevada, New York, PointsBet, Politics, Real Estate, Regulation, Rush Street Gaming, Slot routes, Sports betting, Station Casinos, Steve Wynn, Taxes, Technology, Texas, Wall Street, Wynn Resorts | 2 Comments

Storm in Atlantic City; Big trouble for sports betting

Posted on April 7, 2023 by David McKee

All was not sunny at Borgata last weekend. Our Atlantic City correspondent writes, “When we were driving back to Borgata, heavy rain started. As we pulled into MGM valet intake the wind was getting stronger. The luggage carts were starting … Continue reading →

Posted in AGA, Atlantic City, Bally, Caesars Entertainment, California, Colorado, Cretins, Diversity, DraftKings, Entertainment, Golden Nugget, Hard Rock International, IGT, Illinois, International, Las Vegas Sands, Marijuana, Marketing, Maryland, Massachusetts, MGM Resorts International, Michigan, New Jersey, Penn National, Politics, Problem gambling, Regulation, Reno, Singapore, Sports betting, Tribal, Virginia | 2 Comments

Caesars meets The Street; NYC shuffle; Shreveport switcheroo

Posted on April 6, 2023 by David McKee

Caesars Entertainment CEO Tom Reeg and Senior Vice President of Corporate Finance Brian Agnew just sat down with Deutsche Bank analyst Carlo Santarelli, who came away sufficiently impressed with the Roman Empire to maintain a “Buy” rating on CZR. Santarelli … Continue reading →

Posted in Bally, Barstool Sports, Caesars Entertainment, Cantor Gaming, Churchill Downs, Conventions, Cordish Co., Donald Trump, Failsinos, Genting, Golden Gaming, Hard Rock International, International, Las Vegas Sands, Louisiana, Marketing, Maryland, MGM Resorts International, Nevada, New York, Penn National, Regulation, Sports, Sports betting, The Strip, TV, Wall Street, West Virginia, Wynn Resorts | 5 Comments

Under Southern skies; Presidential casino players

Posted on April 4, 2023 by David McKee

Truist Securities analyst Barry Jonas took a swing through Dixie casinos last month and had quite a bit to report. He hit the New Orleans, Lake Charles, Baton Rouge and Biloxi markets, his primary takeaway being that operators are consistent … Continue reading →

Posted in Apollo Management, Architecture, Aristocrat, Bally, Boyd Gaming, Caesars Entertainment, Chicago, Economy, Election, Golden Nugget, Louisiana, Marketing, MGM Resorts International, Mississippi, Missouri, New Hampshire, Penn National, Slot routes, Sports betting, Station Casinos, Taxes, Technology, The Strip, Wall Street | 1 Comment

MGM owns Ohio; NY Lege owns sports books; Texas jolt

Posted on April 3, 2023 by David McKee

Ohio casino tallies jumped 10% last month, hitting $197 million. It was a decisive win for MGM Northfield Park, which outstripped the competition by grossing $25.5 million, an impressive feat for a casino with *no* table games. Jack Cleveland continues … Continue reading →

Posted in Arizona, Bally, Barstool Sports, BetMGM, Boyd Gaming, Caesars Entertainment, Churchill Downs, DraftKings, FanDuel, Hard Rock International, Jack Entertainment, Macau, MGM Resorts International, New York, Ohio, Penn National, Philippines, Politics, Sports, Sports betting, Taxes, Texas | Comments Off on MGM owns Ohio; NY Lege owns sports books; Texas jolt

Crime and punishment

Posted on March 31, 2023 by David McKee

Former casino overlord Donald Trump is monopolizing the headlines today but let’s not let him have all the fun. There’s plenty of other gaming-related news today. First and foremost, in the same week that Nashville has seen the latest in … Continue reading →

Posted in Arizona, Australia, Barstool Sports, BetMGM, Caesars Entertainment, Colorado, Cretins, Crown Resorts, Dining, DraftKings, Dubai, FanDuel, Foxwoods, Hooters, Law enforcement, Mandalay Bay Massacre, MGM Resorts International, Nevada, Paragon Gaming, Regulation, Rush Street Gaming, Sports betting, The Strip, Wall Street, Wynn Resorts | 1 Comment

A Dream deferred; Lost Virginity; Tennessee tax trouble

Posted on March 21, 2023 by David McKee

Don’t look now, Las Vegas but we may have another failsino on our hands. Construction has ground to a total halt on Dream, the south-Strip resort project that looked like a sure thing not so long ago. Developer Bill Shopoff … Continue reading →

Posted in Barstool Sports, BetMGM, Caesars Entertainment, California, Detroit, DraftKings, Failsinos, FanDuel, FoxBet, Hard Rock International, Health, Illitch Family, Internet gambling, Kentucky, Macau, MGM Resorts International, Michigan, Nevada, Penn National, Politics, Regulation, Sports betting, Taxes, Tennessee, The Strip, Tribal, Virgin Hotels, Virginia, Wynn Resorts | Comments Off on A Dream deferred; Lost Virginity; Tennessee tax trouble

Pennsylvania up; Arizona blunder; Über-Mega-Jottings

Posted on March 20, 2023 by David McKee

At $277 million, Pennsylvania casinos were 2% higher in February than last year, although a 12% declivity from go-go 2019 is further indication of a slowing recovery in gaming. Then again, after having reached record altitudes last year, how much … Continue reading →

Posted in Arizona, Atlantic City, Barstool Sports, BetMGM, Boyd Gaming, Caesars Entertainment, Canada, Century Casinos, Churchill Downs, Cordish Co., Dining, DraftKings, FanDuel, Greenwood Racing, Hard Rock International, Health, Internet gambling, Kansas, Kentucky, Lotteries, LVCVA, M Resort, Maine, MGM Resorts International, Minnesota, Mississippi, Missouri, New Jersey, New York, Penn National, Pennsylvania, Politics, Problem gambling, Real Estate, Regulation, Rush Street Gaming, Scientific Games, Slot routes, Sports betting, Taxes, The Strip, Tribal, Unite-Here, WInd Creek | Comments Off on Pennsylvania up; Arizona blunder; Über-Mega-Jottings

Atlantic City up, Louisiana down; Steve Wynn’s revenge

Posted on March 17, 2023 by David McKee

Gambling revenues inched upward in New Jersey, plus 1% statewide, mainly driven by Internet casinos (+9%). In Atlantic City, slot winnings rose 3.5% to ($159 million) on 4% more coin-in but tables slipped 4.5% to $54 million as wagering dipped … Continue reading →

Posted in AGA, Atlantic City, Bally, Barstool Sports, BetMGM, Boyd Gaming, Caesars Entertainment, Carl Icahn, Chicago, China, Churchill Downs, Columbia Sussex, Conventions, CQ Holdings, DraftKings, Election, FanDuel, Golden Nugget, Hard Rock International, Illinois, Illitch Family, Internet gambling, Kentucky, Law enforcement, Louisiana, MGM Resorts International, Mohegan Sun, Neil Bluhm, New Jersey, Ocean Resort, Penn National, PointsBet, Politics, Rush Street Gaming, Slot routes, Sports betting, Steve Wynn, The Strip, Tourism, Unite-Here, Wall Street, Wynn Resorts | Comments Off on Atlantic City up, Louisiana down; Steve Wynn’s revenge

Massachusetts soars; The Strip meets The Street

Posted on March 15, 2023 by David McKee

Gambling win in Massachusetts shot up 14.5% in February, reaching $98 million. Market leader, of course, was Encore Boston Harbor with $63 million (+14.5%). MGM Springfield leapt 17% to $23 million and Plainridge Park climbed 10% to $12 million. Wynn … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Century Casinos, Downtown, DraftKings, Entertainment, FanDuel, Golden Gaming, Golden Nugget, Hawaii, Internet gambling, Las Vegas Raiders, Las Vegas Sands, Macau, Marketing, Maryland, Massachusetts, MGM Resorts International, Nevada, New Jersey, New York, Politics, Singapore, Slot routes, Sports betting, Station Casinos, Taxes, The Rio, The Strip, Wall Street, Wynn Resorts | 1 Comment

Maryland dips; Boardwalk bulletin; Biden/BIA overreach

Posted on March 7, 2023 by David McKee

February was moderately unkind to Maryland casinos, which were down 3.5% from last year to reach $157 million. Top-grosser of course was MGM National Harbor, flat at $65.5 million. Reliable runner-up Maryland Live was close behind at $56 million, but … Continue reading →

Posted in Atlantic City, Bally, Boyd Gaming, Caesars Entertainment, California, Churchill Downs, Cordish Co., Dining, Failsinos, Florida, Golden Gaming, Golden Nugget, Horseracing, International, Internet gambling, Marijuana, Maryland, MGM Resorts International, Nebraska, New York, Penn National, Racinos, Regulation, Security, The Strip, Tribal | 3 Comments

Caesars, MGM impress The Street; Less drag at Golden; Police blotter

Posted on March 6, 2023 by David McKee

After hanging out with CEO Tom Reeg and Senior Vice President of Finance Brian Agnew, analyst Joseph Greff of J.P. Morgan came away “upbeat” about Caesars Entertainment. His optimism centered on three salient points: “Las Vegas strength and momentum”; “a … Continue reading →

Posted in Caesars Entertainment, California, Conventions, Cretins, Dining, G2E, Golden Gaming, Internet gambling, Japan, Law enforcement, Louisiana, Macau, Maryland, MGM Resorts International, Money laundering, Nevada, New York, North Dakota, Oklahoma, Politics, Slot routes, Sports, Sports betting, Texas, The Strip, Transportation, Tribal, Wall Street, Wyoming | Comments Off on Caesars, MGM impress The Street; Less drag at Golden; Police blotter

MGM’s sugar daddy

Posted on March 4, 2023 by David McKee

Lest we should get all warm and fuzzy about Blackstone Group, second-largest landowner on the Las Vegas Strip, here’s a bracing reminder of how it got to be where it is today.

Posted in MGM Resorts International, Real Estate, Taxes, The Strip | Comments Off on MGM’s sugar daddy