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- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
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Category Archives: Ohio
No gold rush in California
In a huge setback for Internet gambling, California‘s legislature is calling it a day. State Sen. Lou Correa (D) is not only withdrawing his i-gaming bill from consideration, he’s being termed out at the end of the session, so the cause … Continue reading
Posted in California, Harrah's, International, Internet gambling, Isle of Capri, James Packer, Melco Crown Entertainment, Missouri, Ohio, Penn National, Pinnacle Entertainment, Politics, Regulation, Sheldon Adelson, Tropicana Entertainment
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Wall Street: Viva Las Vegas
“Results could be lackluster, even if more states allow casinos, as is the case in Ohio, which we estimate cannibalized roughly one-third of its revenues from surrounding states.” So wrote Fitch Ratings Service analyst Michael Paladino, assessing the gaming industry’s national … Continue reading
Posted in Economy, Harrah's, history, Mississippi, New York, Ohio, Racinos, The Strip, Wall Street, Westgate LV
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Pinnacle pestered; Penn profits; Pokies pilloried
Orange Capital, calling itself “unsatisfied,” has renewed its pestering of Pinnacle Entertainment to convert itself into a REIT. Orange claims that share value could be increased 60% to 90%. Unfortunately for Pinnacle customers, REITs are required to return 90% of … Continue reading
Posted in Ameristar, Atlantic City, Australia, Indiana, Louisiana, Missouri, Ohio, Penn National, Pinnacle Entertainment, Problem gambling, Racinos, Tropicana Entertainment, Wall Street
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Gaming industry gets mixed notices
American Gaming Association data on the health of the casino industry continues to be parceled out. Today we learned that Louisiana has 2.2X as many casino employees as Ohio but they make 2.7X as much. Mind you, the Buckeye State’s … Continue reading
Posted in Economy, IGT, International, Internet gambling, Louisiana, Ohio, Racinos, Wall Street
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Power play in Vegas; Positive talk in Pennsylvania
Las Vegas Sands and Bwin shareholder, and all-around string-puller Jason Ader is committing 350 million of (other people’s) dollars to bringing a Major League Soccer franchise to Las Vegas. Much of the investment would be realized through the EB-5 visa … Continue reading
Posted in Downtown, Harrah's, International, Internet gambling, Ohio, Pennsylvania, Regulation, Sports, Tribal
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Lean and hungry in the Midwest
It’s difficult to find new things to say about Illinois, where the saga has become sadly familiar. Another month, another 11% decline. Even players’ darlings Rivers Casino (-4%) and Jumer’s Rock Island Casino (right, -14%) struggled. However, by some miracle, … Continue reading
Reno 2.0; Saturation in Ohio
All roads lead through Reno, more or less, if you’re dealing with Amazon.com. Now the Biggest Little City in the World is hoping to export high-tech instead. A corridor to that purpose, nicknamed “Startup Row” has sprung up downtown. A … Continue reading
Posted in California, Economy, Harrah's, Ohio, Penn National, Pinnacle Entertainment, Revel
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Boffo May in Vegas; The power of convenience
Wall Street was pleasantly surprised by May’s gambling numbers from Nevada and especially the Las Vegas Strip, which was up 17%. Statewide, revenues rose 8%, reflecting the dilutive effect of an 8% decline in locals gaming revenue. A 3% dip … Continue reading
Mississippi bogged down; How much for Revel?
Still further evidence of gaming saturation comes from the Bayou State, where revenues have declined in 21 of the last 23 months — an Atlantic City-like declivity. Last month, the last full month of operations for Harrah’s Tunica, statewide revenues … Continue reading
Posted in Atlantic City, Economy, Hard Rock International, Maryland, MTR Gaming, Ohio, Penn National, Racinos, Regulation, Revel, West Virginia
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Atlantic City courts the LGBT dollar; Indiana casinos court anybody’s dollar
Formerly a gay getaway, Atlantic City lost its LGBT-friendly image when the casinos came in 1978, or so the history goes. “When the casinos came, people were quick to bulldoze whatever they had to sell for millions, and we lost … Continue reading
Posted in Atlantic City, Boyd Gaming, Harrah's, Illinois, Kansas, Marketing, Ohio, Penn National, Pinnacle Entertainment, Racinos, Sam Nazarian, Slot routes, Taxes, The Strip, Tribal
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Restarting the clock in Massachusetts; Atlantic City, international destination?
It looks like it’s back to Square One for Massachusetts‘ southeastern region. No host community agreements have been executed. No referendums have been held (with a mid-July deadline looming). And, although the cutoff date has passed, new candidates want to … Continue reading
Posted in Atlantic City, Foxwoods, Harrah's, International, Massachusetts, Ohio, Regulation, Tourism, Transportation, Tribal
1 Comment
Indiana struggles, Ohio flourishes
Customers visited 8% in Indiana and spent 4% less. There were some salutary results. Pinnacle Entertainment‘s Ameristar East Chicago was up 2% and Boyd Gaming‘s Blue Chip saw revenues rise 3%. It was a big month for the racinos, with … Continue reading
Posted in Ameristar, Boyd Gaming, Dining, Harrah's, Macau, Maryland, MTR Gaming, Ohio, Penn National, Pinnacle Entertainment, Racinos, Regulation, Scientific Games, Shuffle Master, Tropicana Entertainment, Wall Street
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Massachusetts: Pay the man; Robbing Peter to wager on Paul
If casino gambling is outlawed in a November referendum, MGM Resorts International and Wynn Resorts want their money back. After all, they’ll be out the $85 million application fee and that’s just for starters. They’d also like to be reimbursed … Continue reading
Posted in Delaware, Economy, Japan, Maryland, Massachusetts, MGM Mirage, New York, Ohio, Penn National, Pennsylvania, Regulation, Singapore, Steve Wynn
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Tug of war in Massachusetts; Lee ousted … again; Gilbert’s Greektown struggle
Each with a casino nearly in the bag, both MGM Resorts International and Wynn Resorts want some legislative concessions from Massachusetts. Mohegan Sun is standing pat. MGM and Wynn want their $85 million licensing fee and a number of related … Continue reading
Posted in Dan Gilbert, Dan Lee, Detroit, Downtown, Economy, Election, Massachusetts, MGM Mirage, Mohegan Sun, Ohio, Palms, Problem gambling, Regulation, Steve Wynn
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MGM National Harbor: Icon or overkill? You decide
MGM Resorts International‘s National Harbor project literally hasn’t gotten off the drawing board and yet it’s already stirring controversy. The beef mainly involves five oversized LED screens, the largest of which would be 60 by 100 feet. MGM has similar … Continue reading
Vegas: A return to the halcyon years? It looks that way
Las Vegas recorded its highest visitation numbers of all time last March, helping to drive gambling revenue 8% upward. We had 3.7 million tourists, 4% than the previous year. Despite fewer conventions, a 20.5% leap in convention attendance (with the … Continue reading
Posted in Downtown, Economy, Harrah's, Lake Tahoe, Laughlin, Mesquite, MGM Mirage, North Las Vegas, Ohio, Pennsylvania, Reno, Sam Nazarian, Tourism, Wall Street
1 Comment
Packer sparks protests; Heads roll at Zynga
Just the prospect of a James Packer-owned casino was enough to spur a Buddhist-driven protest march in Sri Lanka. Packer’s Crown Resorts has concessions to develop three resort properties and the Sri Lanka government has been talking out of both … Continue reading
Posted in Atlantic City, Churchill Downs, International, Internet gambling, James Packer, Kentucky, Lawrence Ho, Maine, New York, Ohio, Politics
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Why is this man smiling?
Scarcely had Penn National Gaming and Cordish Gaming decided to bury their differences and work together when their party was crashed. Who else could it be but ubiquitous Caesars Entertainment? The company has written a check for $1 million (refundable) … Continue reading
Posted in Atlantic City, Cordish Co., Harrah's, New York, Ohio, Penn National
1 Comment
Smurf this!
Casinos in Ohio are already becoming a veritable laundromat of money laundering. The practice, called “smurfing,” calls for one person — or a group of conspirators — to buy casino chips, then redeem them, “washing” their cash by those means. … Continue reading
Posted in Cirque du Soleil, Entertainment, Internet gambling, Iowa, MGM Mirage, Ohio, Penn National, Regulation, Sam Nazarian, Sports, The Strip
1 Comment
Soft landing in Atlantic City; Sweating the slots
A 4% increase in online play helped soften the landing for Atlantic City this month. With cyber-revenue factored into the equation, casinos were down only 2% on a same-store basis. Slot revenue fell 10% but the odds were in the … Continue reading
Posted in Atlantic City, Boyd Gaming, Cretins, Harrah's, Mohegan Sun, Ohio, Penn National, Regulation, Revel, Technology, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts
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