Category Archives: Penn National

Michigan, Pennsylvania strong online; Mega-Jottings

Posted on June 23, 2023 by David McKee

Our vacation has taken us to the wilds of Michigan, so today’s report will start there. Detroit‘s three casinos raked in $105 million last month, a 1.5% decline from May of last year. But it was a terrific month for … Continue reading →

Posted in Bally, Barstool Sports, Baseball, BetMGM, Boyd Gaming, Caesars Entertainment, California, Chicago, Churchill Downs, Cordish Co., Detroit, DraftKings, FanDuel, Florida, FoxBet, Genting, Greenwood Racing, Illitch Family, Internet gambling, Massachusetts, MGM Mirage, Michigan, Mohegan Sun, Nebraska, Penn National, Pennsylvania, PointsBet, Racinos, Real Estate, Rush Street Gaming, Sports betting, Tourism, Tribal, Virginia, WInd Creek, Wynn Resorts | Comments Off on Michigan, Pennsylvania strong online; Mega-Jottings

Trop’s fate sealed; Massachusetts up, Louisiana down

Posted on June 16, 2023 by David McKee

Now that the fix is in for the Oakland Athletics to get a vanity stadium in Las Vegas, the bosses of the Tropicana Las Vegas are losing no time in getting what’s really important: Imploding the old girl. Of course, … Continue reading →

Posted in Bally, Barstool Sports, Baseball, BetMGM, Boyd Gaming, Caesars Entertainment, California, Churchill Downs, CQ Holdings, DraftKings, Fanatics, FanDuel, Golden Nugget, Illinois, Louisiana, LVCVA, Massachusetts, MGM Resorts International, Penn National, PointsBet, Politics, Regulation, Sports betting, The Strip, Vici Properties, Wall Street, Wynn Resorts | Comments Off on Trop’s fate sealed; Massachusetts up, Louisiana down

Indiana, Missouri down; Mega-Jottings

Posted on June 12, 2023 by David McKee

Indiana has joined the growing litany of states with disappointing May casino receipts. The statewide gross of $196.5 million represented a 7% drop-off from last year at this time. Only two casinos defied the trend. French Lick Resort leapt 14.5% … Continue reading →

Posted in Australia, Bally, Barstool Sports, BetMGM, Boyd Gaming, Caesars Entertainment, California, Canada, Century Casinos, Downtown, DraftKings, Election, FanDuel, Full House Resorts, Galaxy Entertainment, Genting, Hard Rock International, Indiana, International, Kentucky, Marketing, Maryland, MGM Resorts International, Missouri, New York, Penn National, PointsBet, Regulation, San Manuel Band of Mission Indians, Sports betting, Star Entertainment, Tamares Group, Tribal, Virginia, Wall Street, Wynn Resorts | Comments Off on Indiana, Missouri down; Mega-Jottings

Maryland droops; Boardwalk bulletin; Barstool blunder

Posted on June 8, 2023 by David McKee

Mr. & Mrs. America’s torrid, post-pandemic love affair with casino gambling is finally cooling. It’s not cause for alarm, as we knew this was coming—in fact, it was expected to happen much sooner. And while players are dropping less at … Continue reading →

Posted in Atlantic City, Bally, Barstool Sports, Baseball, Boyd Gaming, Caesars Entertainment, Churchill Downs, Cordish Co., DraftKings, Fanatics, Full House Resorts, Golden Gaming, Golden Nugget, Hard Rock International, Health, Illinois, LVCVA, Marijuana, Maryland, Massachusetts, MGM Resorts International, Nevada, Penn National, Politics, Problem gambling, Regulation, Sports, Sports betting, The Strip, West Virginia | 5 Comments

Ohio cools a bit; On the Boardwalk; Regulatory fist-shaking

Posted on June 1, 2023 by David McKee

Casino revenues are finally cooling off around the country, later than Wall Street expected. Ohio was down 5% last month, reaching $204.5 million—yet still 28% higher than pre-Covid April 2019. So the sky is definitely not falling. Two racinos defied … Continue reading →

Posted in Architecture, Arizona, Atlantic City, Barstool Sports, BetMGM, Boyd Gaming, Caesars Entertainment, Churchill Downs, Dining, Donald Trump, DraftKings, Economy, Entertainment, FanDuel, Golden Nugget, Hard Rock International, Health, history, Hooters, International, Internet gambling, Jack Entertainment, Law enforcement, Louisiana, Massachusetts, MGM Resorts International, Ohio, Penn National, Sports, Sports betting, Tribal, Trump Entertainment Resorts | Comments Off on Ohio cools a bit; On the Boardwalk; Regulatory fist-shaking

Pennsylvania soaked; Texas, Cubed; Mega-Jottings

Posted on May 19, 2023 by David McKee

That old gaming-industry equation that more = more is getting tested in Pennsylvania. On a sheer, gross-gaming-revenue basis, last month’s $297.5 million haul was down 4% from last year but up 7% from the ‘old normal,’ 2019. However, when looked … Continue reading →

Posted in Atlantic City, Barstool Sports, BetMGM, Boyd Gaming, Caesars Entertainment, California, Canada, Century Casinos, Churchill Downs, Cordish Co., Cretins, Dining, DraftKings, FanDuel, FoxBet, Greenwood Racing, Health, Internet gambling, Jim Murren, Las Vegas Sands, Louisiana, Mohegan Sun, Nebraska, Nevada, New Jersey, New York, Penn National, Pennsylvania, Politics, Racinos, Rush Street Gaming, Sports betting, Texas, The Strip, Tourism, TV, Vici Properties, Virginia, WInd Creek, Wynn Resorts | Comments Off on Pennsylvania soaked; Texas, Cubed; Mega-Jottings

All Atlantic City, all the time; Bally’s blunder

Posted on May 17, 2023 by David McKee

Casino winnings in Atlantic City dipped a bit last month, down 1.5% to $231.5 million. Slot revenues led the way, down 3% on flat coin-in. Table games actually did better, up 3% despite flat wagering but A.C. is a slot … Continue reading →

Posted in Atlantic City, Bally, Barstool Sports, Baseball, BetMGM, Boyd Gaming, Caesars Entertainment, Detroit, Dining, DraftKings, Entertainment, Environment, FanDuel, FoxBet, Golden Nugget, Greenwood Racing, Hard Rock International, Illitch Family, Internet gambling, Lake Tahoe, Marketing, MGM Resorts International, Michigan, Mohegan Sun, Ocean Resort, Penn National, PointsBet, Rush Street Gaming, The Strip, Wynn Resorts | 1 Comment

Massachusetts up, Indiana, Louisiana down; Miller’s folly

Posted on May 16, 2023 by David McKee

Gambling revenues nudged upward a bit in Massachusetts, rising 2% from a year earlier. April’s numbers had Encore Boston Harbor far in the lead with $64 million but flat year/year. MGM Springfield (shown) had quite a good month, up 5% … Continue reading →

Posted in AGA, Bally, Barstool Sports, Baseball, BetMGM, Boyd Gaming, Caesars Entertainment, Churchill Downs, CQ Holdings, Culinary Union, DraftKings, Entertainment, FanDuel, Full House Resorts, Genting, Golden Nugget, Hard Rock International, Health, Indiana, International, Internet gambling, Law enforcement, Louisiana, Massachusetts, MGM Resorts International, New York, Penn National, PointsBet, Rush Street Gaming, Sports betting, Station Casinos, The Strip, Tribal, United Kingdom, Wynn Resorts | Comments Off on Massachusetts up, Indiana, Louisiana down; Miller’s folly

Illinois up, Missouri down; Golden fails to glitter

Posted on May 11, 2023 by David McKee

New product lifted Illinois‘ gambling grosses last month, as same-store revenues slipped 1%. The overall haul was $128 million and much of the propulsion came from The Temporary at American Place in Waukegan and its $7 million take. Hard Rock … Continue reading →

Posted in Arizona, Atlantic City, Bally, Barstool Sports, BetMGM, Boyd Gaming, Caesars Entertainment, Century Casinos, Churchill Downs, Dining, DraftKings, FanDuel, Full House Resorts, Golden Gaming, Golden Nugget, Hard Rock International, Illinois, Laughlin, Maryland, Missouri, Nevada, Oklahoma, Penn National, Rush Street Gaming, Slot routes, Sports betting, Tribal, Wynn Resorts | 1 Comment

Portnoy torches Penn; Station “outstanding”; DraftKings improves; Alabama betting brouhaha; Derby gone to the dogs

Posted on May 5, 2023 by David McKee

Penn Entertainment stock collapsed 13% Wednesday afternoon after Barstool Sports founder Dave Portnoy took to Twitter to rant and rave about the firing of Ben Mintz, a ‘Stool fool who dropped the N-word on air for all the world to … Continue reading →

Posted in Alabama, Animals, Barstool Sports, Baseball, Caesars Entertainment, California, Canada, Churchill Downs, Cordish Co., Cretins, DraftKings, Golden Gaming, Horseracing, Illinois, Internet gambling, Marketing, Maryland, Massachusetts, MGM Resorts International, North Las Vegas, Ohio, Penn National, Sports, Sports betting, Station Casinos, The Mob, The Strip, Wall Street, West Virginia | Comments Off on Portnoy torches Penn; Station “outstanding”; DraftKings improves; Alabama betting brouhaha; Derby gone to the dogs

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)

Boyd praised; Graft at Wynn?; NFL hypocrisy

Posted on April 26, 2023 by David McKee

Wall Street analysts loved up on Boyd Gaming following its 1Q23 earnings call. Boyd, Deutsche Bank analyst Carlo Santarelli wrote, “delivers another strong performance … the merits of the story remain compelling on a relative basis.” He pushed his price … Continue reading →

Posted in Baseball, Boyd Gaming, Caesars Entertainment, California, Detroit, Dining, Downtown, FanDuel, Hawaii, Illinois, Internet gambling, Louisiana, Mississippi, Penn National, Real Estate, Reno, Service, Slot routes, Sports, Sports betting, Station Casinos, The Strip, Tilman Fertitta, Tribal, Wall Street, Wynn Resorts | 2 Comments

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 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

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