Category Archives: Penn National

Wall Street meets Las Vegas, Part II

Station Casinos dispatched Executive Vice President Rodney Atamian to meet with JP Morgan analysts last week. According to Joseph Greff, he reported, “solid/improving visitation and spend per visit trends.” A possible increase in Nevada casino-capacity limits to 50% should propel … Continue reading

Posted in Boulder Strip, Boyd Gaming, Caesars Entertainment, Downtown, Economy, FanDuel, Golden Gaming, Hawaii, Health, Internet gambling, Las Vegas Sands, Louisiana, Macau, Marketing, Maryland, Massachusetts, MGM Resorts International, Nevada, New Jersey, Palms, Penn National, Pennsylvania, Slot routes, Sports betting, Station Casinos, The Strip, Tourism, Wall Street, William Hill, Wynn Resorts | 3 Comments

Vegas’ Dream is TSA’s nightmare; MGM disses Chicago

Part Two of our survey of analyst reports on Vegas-based casino companies will have to wait a day, given a bevy of breaking news. First up, a major setback for the planned Dream Las Vegas on the south Strip. Airlines … Continue reading

Posted in Architecture, Arizona, Atlantic City, Bally, Boyd Gaming, Caesars Entertainment, California, Cosmopolitan, Cretins, Dining, Diversity, Economy, Entertainment, Failsinos, Full House Resorts, Hard Rock International, Health, Illinois, Indiana, Las Vegas Sands, Mandalay Bay Massacre, Maryland, MGM Resorts International, Michael Gaughan, New York, Penn National, Rush Street Gaming, Security, Spectacle Entertainment, Station Casinos, Texas, The Strip, Tourism, Transportation, Tribal, Wynn Resorts | 2 Comments

Wall Street meets Las Vegas, Part I

JP Morgan analysts conducted a pilgrimage to Las Vegas to meet with the top brass of Big Gaming. First up was MGM Resorts International, represented by CEO Bill Hornbuckle, CFO Jonathan Halkyard and BetMGM CEO Adam Greenblatt. They see positive … Continue reading

Posted in Arizona, Atlantic City, Barstool Sports, Caesars Entertainment, California, Conventions, Detroit, DraftKings, Economy, Illinois, Indiana, Lake Tahoe, Las Vegas Sands, Louisiana, Macau, Maryland, MGM Resorts International, Michigan, Mississippi, New York, Ohio, Penn National, Reno, Singapore, Sports, Sports betting, Texas, The Strip, Tourism, Transportation, Tribal, TV, William Hill | 2 Comments

Chicago gets serious; Ohio recovering but Missouri swoons

Chicago Mayor Lori Lightfoot (D), having received 11 expressions of interest in a megaresort (two of them an exacta by MGM Resorts International and MGM Growth Properties) is ready to issue a request for proposals sometime next month. We’ll then … Continue reading

Posted in Arizona, Bally, Barstool Sports, Boyd Gaming, Caesars Entertainment, Churchill Downs, Detroit, DraftKings, FanDuel, Florida, Hard Rock International, Illinois, Indiana, Las Vegas Sands, MGM Resorts International, Missouri, Nevada, Ohio, Penn National, Pennsylvania, Politics, Rush Street Gaming, Sports betting, Taxes, The Strip, Tourism, Tribal, Wall Street, Wynn Resorts | 2 Comments

Maryland: More gamblers = more money; Illinois improving

What will prompt recovery in gaming? Stimulus money, yes, but we got a strong indicator of something else out of Maryland last weekend. Overall, casino revenues were down 16.5% but the story is more complicated than that. At facilities restricted … Continue reading

Posted in AGA, Australia, Bally, Boyd Gaming, Caesars Entertainment, Canada, Churchill Downs, Connecticut, Cordish Co., Crown Resorts, DraftKings, FanDuel, Foxwoods, Golden Gaming, Illinois, Internet gambling, Iowa, Maryland, MGM Resorts International, Mohegan Sun, Penn National, Problem gambling, Sports, Sports betting, TV, Wall Street, West Virginia, William Hill | Comments Off on Maryland: More gamblers = more money; Illinois improving

Louisiana better than it looks; Covid checkmates brothels

Casinos in the Pelican State were off 10% in January. However, when one adjusts the numbers to account for the permanent closure of Diamond Jacks in Shreveport and the all-but-permanent shutdown of Isle Grand Palais on Lake Charles, gaming revenues … Continue reading

Posted in Bally, Boyd Gaming, Brothels, Caesars Entertainment, Churchill Downs, CQ Holdings, Economy, Golden Nugget, Health, Louisiana, MGM Resorts International, New York, Penn National, Sports, Sports betting, The Strip | 1 Comment

Mixed signals from Vegas; It’s all good in Atlantic City

Is the new year bringing a Las Vegas comeback? If you set store by anecdotal evidence, things look relatively normal on Fremont Street. God knows Downtown could use a dose of normality, especially after a December devoutly to be forgotten. … Continue reading

Posted in AGA, Architecture, Barstool Sports, Boyd Gaming, Caesars Entertainment, Detroit, Downtown, Economy, Election, Golden Nugget, Hawaii, Health, Horseracing, Illinois, Indiana, International, Internet gambling, Iowa, Kansas, Las Vegas Sands, Lotteries, Louisiana, Macau, Massachusetts, MGM Resorts International, Michigan, Mississippi, Missouri, New Jersey, New York, Ohio, Penn National, Pennsylvania, Politics, Problem gambling, Regulation, Sports betting, Technology, The Strip, United Kingdom, Virginia, Wall Street, Wynn Resorts | 2 Comments

Michigan gaming explodes; Massachusetts droops

Online sports betting and Internet gambling have come to Michigan and they’re a smash hit. In the first 10 days of sports betting, handle was $115 million, with revenues of $13 million. FanDuel led market share with 32% of handle, … Continue reading

Posted in Barstool Sports, Detroit, Dining, DraftKings, Entertainment, FanDuel, FoxBet, Health, history, Internet gambling, Las Vegas Raiders, M Resort, MGM Resorts International, New Jersey, New York, Penn National, Pennsylvania, Real Estate, Rush Street Gaming, Sports betting, Taxes, Tennessee, The Strip, Tribal, Wall Street, Wynn Resorts | Comments Off on Michigan gaming explodes; Massachusetts droops

A.C.: Trump Dump gone, Hard Rock and Ocean going strong

At 9:08 a.m. yesterday, one of the towers of Trump Plaza was finally imploded, an important first step in clearing Atlantic City of its last excrescences of You Know Who. Maybe owner Carl Icahn, having been a “george” donor to … Continue reading

Posted in AGA, Bally, Barstool Sports, Boyd Gaming, Caesars Entertainment, Carl Icahn, Charity, Churchill Downs, Cordish Co., Current, Dining, Donald Trump, DraftKings, Economy, FanDuel, FoxBet, Golden Nugget, Greenwood Racing, Hard Rock International, MGM Resorts International, Missouri, Mohegan Sun, Ocean Resort, Penn National, Pennsylvania, Rush Street Gaming, Sports, Sports betting, The Strip, Tourism, Tribal, TV, Wall Street, William Hill | 3 Comments

MGM revisited; Mixed month for Indiana

Today it was Credit Suisse analyst Ben Chaiken‘s turn to weigh in on MGM Resorts International‘s 4Q20 numbers and he found even more to like than did Joseph Greff yesterday. Leading with Macao, Chaiken saw MGM China capturing more of … Continue reading

Posted in Barstool Sports, Boyd Gaming, Caesars Entertainment, Colorado, Dan Lee, Donald Trump, DraftKings, FanDuel, Full House Resorts, Galaxy Entertainment, Genting, Hard Rock International, Illinois, Indiana, Internet gambling, Japan, Jim Murren, Las Vegas Sands, Macau, Marketing, Massachusetts, MGM Resorts International, Mohegan Sun, Movies, New York, Penn National, Regulation, Sociedade de Jogos de Macau, Spectacle Entertainment, Sports betting, Steve Wynn, The Mob, The Strip, Tribal, Wall Street, Washington State, Wynn Resorts | 2 Comments

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

Station sitting pretty; Missouri booms; All bets off at MGM

Despite fourth quarter revenues that were 28% off the pace ($122 million) in Las Vegas, analysts on Wall Street are liking Station Casinos these days. Native American management fees in 4Q20 were up 21% ($25.5 million) for one thing. JP … Continue reading

Posted in Bally, Boyd Gaming, Caesars Entertainment, Cretins, Dining, Economy, Harry Reid, history, Law enforcement, MGM Resorts International, Missouri, Penn National, Sports betting, Station Casinos, The Strip, Transportation, Wall Street | 2 Comments

Normality in Ohio, disaster in Illinois; Planet Ho sale mooted

Maybe the ‘skinny stimulus’ helped Ohio. Gross gaming revenues of $153.5 million were only 8.5% off last year’s pace. The gambling houses are still operating at 50% capacity and under a curfew but the number remains impressive. Hollywood Toledo continues … Continue reading

Posted in Alabama, Bally, Boyd Gaming, Churchill Downs, Colorado, Dan Gilbert, Detroit, Dining, DraftKings, Economy, Georgia, Hard Rock International, history, Illinois, Jack Entertainment, Las Vegas Sands, Louisiana, Macau, Marketing, Maryland, Massachusetts, Mattress Mack, MGM Resorts International, North Carolina, Ohio, Penn National, Planet Hollywood, South Dakota, Sports betting, Texas, The Strip, Transportation, TV, Virginia, Wall Street, Wynn Resorts | 1 Comment

Welcome to Less Vegas

Caesars Entertainment, aka Eldorado Resorts, has become possessed by the evil spirit of spare-every-expense Columbia Sussex. In one of the most odious of recent cutpurse moves, bartenders have been ordered to short-pour liquor: The ‘new normal’ is .75 ounces per … Continue reading

Posted in Alabama, Arizona, Barstool Sports, Caesars Entertainment, California, Canada, Columbia Sussex, Connecticut, Conventions, Cretins, DraftKings, Election, FanDuel, Florida, Health, Kansas, Lotteries, Massachusetts, Maverick Gaming, MGM Resorts International, Mississippi, Nebraska, New Mexico, North Dakota, Ohio, Penn National, PointsBet, Politics, Racinos, Sports, Sports betting, The Strip, Tribal, United Kingdom, Wall Street, Washington State | 1 Comment

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 | Comments Off on Wynn surprises few; Maryland stabilizes, Iowa impresses

Penn survives bad quarter; Summer gaming recover possible

Penn National Gaming reported 4Q20 earnings today and they were down 23% from last year. Many reasons were cited, including lower consumer spending, casino closures in Illinois, Michigan and Pennsylvania, and new restrictions in Ohio and Maine. Oh yes, and … Continue reading

Posted in Barstool Sports, Cretins, Dining, Health, Illinois, Indiana, LVCVA, Maine, Michigan, Movies, New Jersey, Ohio, Penn National, Pennsylvania, Sports, Sports betting | 2 Comments

Gaming stocks rejiggered; Smoke blown at AGA

No, we don’t mean the Reddit/GameStop scandal, which has everyone from Sen. Ted Cruz (R) to Rep. Alexandria Ocasio-Cortez (D) up in arms. Instead, we’re looking at a downgrade of revenue estimates for a slew of projections by JP Morgan … Continue reading

Posted in AGA, Barstool Sports, Boyd Gaming, Caesars Entertainment, Churchill Downs, Cordish Co., DraftKings, Economy, Florida, Golden Gaming, Hard Rock International, Health, Horseracing, Illinois, Internet gambling, Marijuana, Marketing, MGM Resorts International, Nevada, New Jersey, Penn National, Pennsylvania, Rush Street Gaming, Scientific Games, Sports, Sports betting, Station Casinos, Tribal, Wall Street, William Hill | 1 Comment

Louisiana doldrums; Philadelphia Live sparkles

Does reporting bad news get tedious? You bet! But it comes with the turf. Louisiana casino winnings declined 23% last month, in keeping with the national average. Penn National Gaming casinos got off easiest, slipping 11%, while Boyd Gaming ones … Continue reading

Posted in Animals, Bally, Baseball, Boyd Gaming, Caesars Entertainment, Churchill Downs, Colorado, Connecticut, Cordish Co., CQ Holdings, Cretins, Dining, DraftKings, Economy, FanDuel, FoxBet, Foxwoods, Golden Nugget, Health, Illinois, Indiana, Internet gambling, Jim Murren, Law enforcement, Louisiana, Marketing, Massachusetts, MGM Resorts International, Mohegan Sun, Nevada, New Jersey, Penn National, Pennsylvania, Politics, Rush Street Gaming, Sports, Tennessee, Wall Street, West Virginia, William Hill | 3 Comments

Icahn saves Trump Dump; Disaster in Pennsylvania

Carl Icahn‘s abusive-codependent attachment to Trump Plaza knows no ends. In his latest gambit, the magnate has kiboshed the implosion of the ramshackle ex-casino that had been slated for sometime in February, by dint of obtaining a cease-and-desist order. Instead, … Continue reading

Posted in Affinity Gaming, Atlantic City, Barstool Sports, Boyd Gaming, Carl Icahn, Charity, Churchill Downs, Cordish Co., Dan Gilbert, Donald Trump, Economy, FanDuel, Greenwood Racing, Internet gambling, MGM Resorts International, Michigan, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Rush Street Gaming, Sports betting, The Strip, Tribal, Trump Entertainment Resorts, Wall Street, Wendover, William Hill, Wynn Resorts | 3 Comments

Massachusetts hit hard; NFL playoffs a tossup

Between Covid-19 capacity restrictions (33%) and statewide curfews (9:30 p.m., when the night owls are just getting rolling), Massachusetts casinos were between a rock and a hard place last month, with revenues falling 40% to a meager $50 million. If … Continue reading

Posted in AGA, Connecticut, Entertainment, Massachusetts, MGM Resorts International, Penn National, Problem gambling, Sports, Sports betting, The Strip, Wall Street, Westgate LV, Wynn Resorts | 1 Comment