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Category Archives: Michigan
BetMGM saves company’s bacon; Whither the Palms?
Seesawing between the effects of closures and capacity restrictions, Detroit casinos were down 28% last month. They grossed $87 million, led by MGM Grand Detroit with $34 million (-32%). Breathing down MGM’s neck is MotorCity‘s $33 million haul (-21%), while … Continue reading
Posted in California, Card rooms, Colorado, Conventions, Cordish Co., Detroit, Dining, Economy, Health, Internet gambling, Las Vegas Sands, Macau, Marketing, MGM Resorts International, Michigan, Palms, Penn National, Pennsylvania, Sports betting, Station Casinos, Tennessee, The Strip, Tourism, Wall Street
2 Comments
Wynn surprises few; Maryland stabilizes, Iowa impresses
It’s earnings-report time for Wynn Resorts and JP Morgan analyst, Joseph Greff, for one, is feeling blasé about the numbers. “Overall, we’d characterize the quarter as in line with investors’ recent expectations, and its earnings conference call outlook commentary as … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, California, China, Churchill Downs, Cordish Co., Dining, DraftKings, Entertainment, FanDuel, Golden Gaming, Health, International, Internet gambling, Iowa, Las Vegas Sands, Macau, Marketing, Maryland, Massachusetts, MGM Resorts International, Michigan, Penn National, Pennsylvania, Rush Street Gaming, Sports, The Strip, Wall Street, West Virginia, William Hill, Wynn Resorts
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Life after Adelson; Super Bowl odds revealed
Taking a business-as-usual approach, Las Vegas Sands reported 4Q20 earnings and JP Morgan analyst Joseph Greff wasn’t blown away, writing that “we, like most investors, see the quarter and any outlook commentary offering little in the way of positive developments … Continue reading
Adelson rolling in grave; Police blotter
It’s a good thing Sheldon Adelson didn’t live to see this. The First Circuit Court of Appeals quashed a 2019 reinterpretation of the Federal Wire Act by the Justice Department, one that broadly applied it to Internet gambling. The federal … Continue reading
Posted in Cosmopolitan, Donald Trump, Economy, Hard Rock International, Harry Reid, Health, Indiana, Internet gambling, Las Vegas Sands, Law enforcement, Michigan, Nevada, New Hampshire, New York, PointsBet, Politics, Regulation, Sheldon Adelson, Spectacle Entertainment, Sports betting, Taxes
1 Comment
Adelson, Packer canoodle & other news
While America burns, Sheldon Adelson is fiddling in the French Caribbean, aboard his mega-luxury yacht. The vessel was moored next to that of James Packer, who welcomed Adelson as guest for his lavish New Year’s Eve celebration. This meeting of … Continue reading
Posted in Arizona, China, Crown Resorts, Detroit, Dining, Economy, Hawaii, Health, International, Internet gambling, Iowa, James Packer, Japan, Las Vegas Sands, Law enforcement, Macau, MGM Resorts International, Michigan, Penn National, Pennsylvania, Politics, Regulation, Sheldon Adelson, South Dakota, Taxes, Tribal, Virginia
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In case you missed it …
Pennsylvania closed all its casinos Sunday, starting with Rivers Casino Pittsburgh at 12 a.m. The shutdown is to last until Jan 4. The Keystone State joins Michigan (until Dec. 20, probably longer) and Illinois (indefinite). In Nevada, although Covid-19 is … Continue reading
Posted in Boulder Strip, Boyd Gaming, Caesars Entertainment, Connecticut, Conventions, Downtown, FanDuel, Foxwoods, Health, Las Vegas Sands, Lotteries, Louisiana, Marketing, Massachusetts, MGM Resorts International, Michigan, Mohegan Sun, Nevada, Oklahoma, Pennsylvania, Scientific Games, Sports betting, The Strip, Tribal, West Virginia, Wynn Resorts
2 Comments
New rules, green shoots on the Strip; Mixed messages in Michigan
Casinos in Nevada will take a gut punch tomorrow when new state restrictions go into effect. They’ll have to reduce players on the floor to 25% of capacity, and the same holds true for bars and restaurants. Citing “wildfire” levels … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, California, Colorado, Cordish Co., Detroit, DraftKings, Entertainment, FanDuel, Golden Nugget, Health, Illinois, Internet gambling, Las Vegas Sands, Macau, MGM Resorts International, Michigan, Nevada, New Mexico, New York, Oregon, Pennsylvania, Sports betting, The Strip, Tribal, Wynn Resorts
1 Comment
Quote of the Day
“The only way this stops is if people rise up. You get what you accept.”—neuroradiologist and White House Covid czar Scott Atlas, encouraging resistance to anti-viral restrictions in Michigan, where cases are through the roof. (Casinos there close tomorrow.)
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
What ails Illinois?; Trump Plaza comes down
In a month that saw Ohio casino revenues grow 6% and Iowa almost 1% (to $119.5 million), Illinois casinos plummeted 27% to a measly $82 million. Even a sub-50% capacity restriction doesn’t begin to explain away the problem. Predictably, Rivers … Continue reading
Posted in Arizona, Atlantic City, Boyd Gaming, Caesars Entertainment, Carl Icahn, Churchill Downs, Dining, DraftKings, FanDuel, Full House Resorts, Illinois, Indiana, Internet gambling, Iowa, MGM Resorts International, Michigan, Penn National, Politics, Rush Street Gaming, Spectacle Entertainment, Sports betting, Twin River
1 Comment
Covid-19 rattles oddsmakers; No joy in Vegas
Before the ink was dry on a deal for BetMGM to become the official wagering partner of the Tennessee Titans, inescapable Covid-19 rippled through the Titans’ ranks, forcing indefinite postponement of a tilt against the Pittsburgh Steelers. Incidences like this … Continue reading
Barstool buy buoys Penn Nat’l; MGM’s ad blitzkrieg
JP Morgan analysts upped their near- and long-term cash flow estimates for Penn National Gaming, based on regional trends and sports betting. “While we recognize PENN’s impressive share price outperformance, and many sell-side firms have thrown in the towel with … Continue reading
Posted in Arizona, Boyd Gaming, Caesars Entertainment, Churchill Downs, Dining, Donald Trump, Downtown Grand, DraftKings, FanDuel, Hard Rock International, Health, Illinois, Internet gambling, Iowa, Marketing, MGM Resorts International, Michigan, Nevada, New Jersey, Penn National, Pennsylvania, Problem gambling, Sports, Sports betting, Station Casinos, Wall Street
1 Comment
Hiccups in Indiana, Missouri
Stimulus checks and pent-up demand only seem to go so far (except in Ohio). Gambling revenues in Indiana were down 10% last month, to $168 million. $5 million of that was table game play from Hoosier Park and Indiana Grand, … Continue reading
Posted in Architecture, Boyd Gaming, Caesars Entertainment, Century Casinos, DraftKings, FanDuel, Full House Resorts, history, Illinois, Indiana, MGM Resorts International, Michigan, Missouri, Movies, Penn National, Rush Street Gaming, Sheldon Adelson, Singapore, Spectacle Entertainment, Sports betting, TV, Twin River
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The big enchilada
“The Biggest Gaming Opportunity Since Riverboats in the Early ’90s.” That’s how JP Morgan gaming analyst Joseph Greff, a man not given to hype, characterized i-gaming and sports betting today. He described them as “as an emerging and exciting area … Continue reading
Posted in Caesars Entertainment, California, Colorado, Cosmopolitan, DraftKings, FanDuel, Golden Nugget, Illinois, Indiana, Internet gambling, Iowa, Isle of Capri, Las Vegas Sands, MGM Resorts International, Michigan, MTR Gaming, Palms, Penn National, Regulation, Rush Street Gaming, Silverton, Sports betting, The Strip, Tropicana Entertainment, Wall Street, William Hill
2 Comments
Chicago compromise effected
Windy City Mayor Lori Lightfoot (D) may have won a battle but is still losing the war. The Illinois Lege has passed—and Gov. J.B. Pritzker (D) has signed—a ‘relaxation of Chicago‘s 72% casino tax, a burden so onerous it would … Continue reading
Posted in Boulder Strip, Caesars Entertainment, California, Environment, Greenwood Racing, Health, Illinois, Internet gambling, MGM Resorts International, Michigan, North Las Vegas, Oklahoma, Politics, Sports betting, Station Casinos, Taxes, The Strip, Tribal
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Louisiana sees fewer, richer players
Gambling re-started in Louisiana May 18, albeit with some significant casualties. Harrah’s New Orleans and Fair Grounds racino weren’t able to wade in until the end of the month and Diamond Jack’s is kaput. Despite mad business early in reopening, … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Detroit, DraftKings, Eldorado Resorts, FanDuel, GLPI, Golden Nugget, Greenwood Racing, Health, Internet gambling, Louisiana, Michigan, Penn National, Pennsylvania, PokerStars, Rush Street Gaming, Sports betting, Taxes, Tribal, Wall Street
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“Green shoots” in gaming; Mega-Jottings
According to the American Gaming Association, 82 of 989 casinos in the United States have reopened, many of them in Louisiana starting today. But don’t take our word for it. Use the AGA’s Coronavirus tracker, which keeps you abreast of casino … Continue reading
Posted in AGA, Alabama, Arizona, Arkansas, Atlantic City, Boyd Gaming, Caesars Entertainment, California, Conventions, Detroit, Dining, GLPI, Golden Nugget, Health, Illinois, Iowa, Louisiana, LVCVA, M Resort, Macau, Marketing, MGM Resorts International, Michigan, Mississippi, Missouri, Ohio, Oklahoma, Penn National, Politics, Resort fees, Singapore, South Dakota, Sports, Sports betting, Station Casinos, Taxes, The Strip, Tribal, Wynn Resorts
1 Comment