Category Archives: New Jersey

Letter from Atlantic City

Our East Coast correspondent writes, “As of [May 4], everyone in New Jersey has to bring their own bags when they purchase almost everything. Single-use plastic and paper bags are gone, except for stores less than 2,500 square feet in … Continue reading

Posted in Atlantic City, Caesars Entertainment, Current, Environment, Law enforcement, New Jersey, Politics, Sports, Unite-Here | 1 Comment

DraftKings spins Wall Street; Penn, Golden post records

That widening chasm between DraftKings‘ revenue projections ($2 billion in 2022) and its elusive profitability may be catching up with Jason Robins‘ company. Red ink from 1Q22 was $468 million, way up from 1Q21’s $346 million. Negative ROI shot up … Continue reading

Posted in Barstool Sports, California, Canada, Colorado, DraftKings, Golden Gaming, Horseracing, Laughlin, Marketing, Maryland, Massachusetts, Mattress Mack, MGM Resorts International, Nevada, New Jersey, New York, Penn National, Pennsylvania, Politics, Problem gambling, Slot routes, Sports betting, The Strip, Tribal, Wall Street | 1 Comment

Parx dethroned; Shreveport sleaze; Maine’s latest bet

Move over, Parx Casino, there’s a new leader in the Pennsylvania gaming market. That’d be Penn National‘s eponymous racino near Harrisburg. For the second month in a row it was tops in the Keystone State, banking $64 million, up 11.5% … Continue reading

Posted in Atlantic City, Australia, Bally, Barstool Sports, BetMGM, Boyd Gaming, Caesars Entertainment, China, Churchill Downs, Cordish Co., Crown Resorts, DraftKings, FanDuel, Florida, Golden Nugget, Greenwood Racing, Health, Internet gambling, Kansas, Kentucky, Louisiana, Macau, Maine, MGM Resorts International, Michigan, Mohegan Sun, New Jersey, Peninsula Pacific, Penn National, Pennsylvania, Politics, Regulation, Rhode Island, Rush Street Gaming, Sports, Sports betting, Taxes, Transportation, Tribal, Virginia, Wynn Resorts | Comments Off on Parx dethroned; Shreveport sleaze; Maine’s latest bet

Siegel’s Strip scheme; Tilman’s Rocky Mountain high

Siegel Group got a steal of a deal on the north Las Vegas Strip: 10 acres for $75 million. The vacant land used to be occupied, in part, by the La Concha Motel (pictured). It was also once destined for … Continue reading

Posted in Arkansas, Churchill Downs, Colorado, Dan Lee, Full House Resorts, Genting, Golden Nugget, Greenwood Racing, Health, history, Illinois, Indiana, Japan, Law enforcement, MGM Resorts International, New Jersey, New York, Pennsylvania, Politics, Real Estate, Spectacle Entertainment, Taxes, The Strip, Tilman Fertitta | 2 Comments

Barley’s leaves a bad taste; Woe is Star; Mega-Jottings

When a casino is named Barley’s Brewing Co. you’d expect to get a decent glass of suds there. Not so. Las Vegan Lon Enwright is $8 million richer—but physically damaged beyond price—after being served cleaning fluids instead of beer (the … Continue reading

Posted in Australia, Baseball, Boulder Strip, Charity, China, Conventions, Crown Resorts, Derek Stevens, history, Japan, Kentucky, Massachusetts, MGM Resorts International, Missouri, Money laundering, Movies, New Jersey, Politics, Regulation, Resorts World LV, Singapore, Sports, Sports betting, Star Entertainment, Station Casinos, Tourism, Transportation, Tribal, Wall Street, Wisconsin | Comments Off on Barley’s leaves a bad taste; Woe is Star; Mega-Jottings

Sunday Special: Coming down the Oscar stretch

With one week until the Academy Awards, you still have time to get your money down in New Jersey and Indiana. (Why not Nevada, we ask?) Although its odds have narrowed significantly, The Power of the Dog (DraftKings -280/BetMGM -250) … Continue reading

Posted in BetMGM, DraftKings, Indiana, Movies, New Jersey | 1 Comment

Empire State greed; Brady betting brouhaha

Wow, inflation really is spiraling. When last we checked (i.e., yesterday), a New York City casino license was going for $500 million. However, if some state senators get their way, that not-inconsiderable price tag will rocket to $1 billion. According … Continue reading

Posted in Charity, Downtown, FanDuel, Genting, Golden Nugget, Hard Rock International, Health, Illinois, Indiana, LVCVA, Marketing, MGM Resorts International, New Jersey, New York, Ocean Resort, Politics, Sports betting, Taxes, The Strip, Tony Hsieh, Transportation, West Virginia, Westgate LV, Wynn Resorts, Wyoming | 1 Comment

Decline of the Golden Nugget?; Bluhm gets Chicago boost

On March 7, our Atlantic City correspondent wrote to us, “Who took the slot machines since yesterday? They even got rid of two of the four “vanity’ Tilman Fertitta dollar Billionaire Buyer machines. (I never saw anyone at those machines). … Continue reading

Posted in Atlantic City, Bally, Barstool Sports, BetMGM, Boyd Gaming, Caesars Entertainment, Chicago, China, Churchill Downs, Colorado, Detroit, DraftKings, Environment, FanDuel, Full House Resorts, Genting, Golden Nugget, Hard Rock International, Illitch Family, Indiana, Marketing, MGM Resorts International, Neil Bluhm, New Jersey, New York, Penn National, PointsBet, Politics, Rush Street Gaming, Scientific Games, Sports betting, Taxes, Tilman Fertitta, Tribal, Wynn Resorts | 1 Comment

Mega-January on the Strip; Much ado about Caesars

January’s Nevada gambling-revenue numbers are out and the Silver State topped $1 billion yet again, a 41.5% boost over last year. However, some jurisdictions manifested slight declines, a sign that casino activity may be “normalizing” after a heated 2021. To … Continue reading

Posted in Animals, Arizona, Atlantic City, Bally, Baseball, Boulder Strip, Caesars Entertainment, Churchill Downs, Conventions, Dining, Downtown, Genting, Health, Internet gambling, Lake Tahoe, Laughlin, Louisiana, Marketing, Mesquite, Nevada, New Jersey, New York, North Las Vegas, Peninsula Pacific, Pennsylvania, Planet Hollywood, Politics, Reno, Singapore, Sports, Sports betting, Texas, The Strip, Tourism, Tribal, Wall Street, Wendover, Wisconsin | 2 Comments

Louisiana levels off, DraftKings sucks wind, Golden gilded

Gaming analysts have been cautioning us to expect “difficult comparisons” between 2022 and previous high-water years late 2019 and 2021. Indeed, Louisiana‘s January was flat with 2019, if up 8% from last year. Sports betting was weak: $49 million in … Continue reading

Posted in Apollo Management, Atlantic City, Bally, Baseball, Boyd Gaming, Caesars Entertainment, Churchill Downs, DraftKings, Economy, Eldorado Resorts, Florida, G2E, Golden Gaming, Golden Nugget, Hard Rock International, Hawaii, Japan, Las Vegas Sands, Laughlin, Louisiana, New Jersey, New York, Peninsula Pacific, Penn National, Regulation, Resort fees, Slot routes, Sports betting, Tourism, Wall Street, Wynn Resorts | Comments Off on Louisiana levels off, DraftKings sucks wind, Golden gilded

Wynn steals its own thunder; Atlantic City hits a downer

Leave it to Wynn Resorts to squelch news of a bad 4Q21—losing $256.5 million—with an, oh by the way, announcement that it was selling Encore Boston Harbor for $1.7 billion (essentially breaking even on construction costs) and leasing it back. … Continue reading

Posted in AGA, Atlantic City, Australia, Bally, Barstool Sports, BetMGM, Caesars Entertainment, Crown Resorts, Dining, DraftKings, Dubai, Economy, FanDuel, FoxBet, Golden Nugget, Hard Rock International, Internet gambling, James Packer, Las Vegas Sands, Macau, Marketing, Massachusetts, Mattress Mack, MGM Resorts International, Michigan, Mohegan Sun, New Jersey, New York, Penn National, PointsBet, Problem gambling, Rush Street Gaming, South Korea, Sports, Sports betting, Taxes, Tennessee, Texas, The Strip, Wall Street, Wynn Resorts | Comments Off on Wynn steals its own thunder; Atlantic City hits a downer

Adios, Tropicana?; New York sports betting tops $1 billion easily

Visit the Tropicana Las Vegas while yet you can. Why? Because Bally’s Corp. Chairman Soo Kim is seriously weighing the possibility of “knocking it down and starting over.” Yes, Kim would rebrand the place as Bally’s Las Vegas and then … Continue reading

Posted in Alex Yemenidjian, Atlantic City, Bally, BetMGM, Caesars Entertainment, Chicago, Columbia Sussex, Conventions, DraftKings, e-sports, Economy, Election, FanDuel, GLPI, Health, history, Laughlin, Nevada, New Jersey, New York, Peninsula Pacific, Penn National, Politics, Rush Street Gaming, Sahara, Sports betting, Taxes, Texas, The Strip, Virginia | Comments Off on Adios, Tropicana?; New York sports betting tops $1 billion easily

Warm breeze in Atlantic City; Indiana heats up

December brought an acceleration in most forms of New Jersey gambling revenue. Atlantic City casinos managed a 1.5% increase over the end of 2019 but sports betting revenue dropped 11% year/year, blamed on low hold. Sticking close to home, Internet … Continue reading

Posted in Atlantic City, Australia, Bally, Barstool Sports, BetMGM, Boyd Gaming, Caesars Entertainment, Cordish Co., Crown Resorts, DraftKings, Entertainment, FanDuel, Full House Resorts, Golden Nugget, Hard Rock International, Indiana, Maryland, Massachusetts, MGM Resorts International, Mohegan Sun, New Jersey, New York, Ocean Resort, Peninsula Pacific, Penn National, PointsBet, Politics, Regulation, Rush Street Gaming, Sports betting, Taxes, Tribal, Virginia, Wynn Resorts | 2 Comments

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

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

Playing politics with sports betting … and casinos

Chicago Mayor Lori Lightfoot (D) has really put her foot in it this time. Not only are Windy City aldermen balking at five stadium-area sports books in addition to a billion-dollar casino, fearing cannibalization, but Lightfoot threw gasoline on the … Continue reading

Posted in Atlantic City, Barstool Sports, Boyd Gaming, Caesars Entertainment, Chicago, Churchill Downs, Dan Lee, DraftKings, FanDuel, Full House Resorts, Hard Rock International, Health, Illinois, Jack Entertainment, Marketing, MGM Resorts International, Nevada, New Jersey, New York, Ohio, Penn National, Pennsylvania, PointsBet, Politics, Regulation, Rush Street Gaming, Sports, Sports betting, Taxes, Tribal, TV, Wall Street | 1 Comment

Chicago reveals all; Rumblings from Macao; Riot in Vegas

The City of Chicago unveiled the applications for its casino license late Friday, effectively burying it at the end of a news cycle, in another triumph for Mayor Lori Lightfoot (D) and her administration. The five submissions “are in line … Continue reading

Posted in Architecture, Bally, Barstool Sports, Chicago, China, Cretins, Entertainment, Genting, Golden Gaming, Hard Rock International, Health, IGT, Illinois, Las Vegas Raiders, Macau, Maryland, Mattress Mack, Neil Bluhm, New Jersey, New York, Problem gambling, Regulation, Rush Street Gaming, Sports, Sports betting, Tourism, Transportation | 5 Comments

Atlantic City: Does it pay to improve?; Bicycle Casino’s flat tire

New Jersey giveth, New Jersey taketh away. The priority of the Lege’s lame-duck session will not be ending smoking in Atlantic City casinos but something much nearer and dearer to casino executives’ hearts: Revising the PILOT (Payment In Lieu of … Continue reading

Posted in Atlantic City, Bally, Caesars Entertainment, California, Card rooms, Golden Nugget, Hard Rock International, Law enforcement, MGM Resorts International, Money laundering, Morris Bailey, New Jersey, Ocean Resort, Taxes | 2 Comments

Encore owns Massachusetts; Online slot players hosed

Massachusetts gaming revenue accelerated to $96 million last month, 23% higher than 2019. Encore Boston Harbor vaulted 37% to $63 million—yes, two-thirds of the statewide gross and well above Deutsche Bank‘s forecast of $55 million. Despite Wynn Resorts‘ dominance, Plainridge … Continue reading

Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Cretins, Detroit, Economy, FanDuel, Hard Rock International, Illinois, Iowa, Law enforcement, Massachusetts, MGM Resorts International, Nebraska, Neil Bluhm, New Jersey, North Carolina, Peninsula Pacific, Penn National, Pennsylvania, Racinos, Regulation, Sports, Sports betting, Tribal, TV, Virginia, Wall Street, Wynn Resorts | 1 Comment

MGM to sell Mirage; Caesars disappoints Wall Street

At a time when the north Las Vegas Strip is finally heating up, MGM Resorts International has chosen this moment to put The Mirage on the market. Although it’s 32 years old (224 in dog years), The Mirage should fetch … Continue reading

Posted in BetMGM, Boyd Gaming, Conventions, Cosmopolitan, Economy, Election, Hard Rock International, Health, Internet gambling, Jim Murren, Lake Tahoe, Louisiana, Macau, Marketing, MGM Resorts International, New Jersey, New York, Palms, Penn National, Phil Ruffin, Planet Hollywood, San Manuel Band of Mission Indians, Sports betting, The Strip, Vici Properties, Wall Street | 2 Comments