The new China syndrome
Junket operators and gaming companies in Macao are donating $22.5 million to help find a coronavirus cure. Good on them. Would that we could say half that about the government of China, which has bungled a localized virus into a global pandemic. As of last weekend, some 40,171 people had been sickened, far more than the 8,098 infected by SARS. Almost 910 deaths (SARS killed 774) have occurred—97 last Sunday alone—indicating that the pace of the disease is quickening. Over 3,060 new cases have been reported, including at least 66 on a cruise ship that was quarantined in Japan.
This is entirely the fault of a doctrinaire cover-up in the Chinese government. Global Gaming Business provides a handy summary: “Medical personnel quickly raised the alarm, but initially local officials 
refused to act, fearful in no small part of censure from Beijing. Thus, a critical period of several weeks passed that allowed the contagion to spread. The situation was made worse by the fact that, by the time the epidemic was officially acknowledged and the central government began to mobilize to treat and contain it, the weeklong Lunar New Year had arrived. It’s China’s busiest travel season, and it occurred as the contagion rapidly spread throughout Hubei [Province] and beyond.”
Among the victims claimed by the disease was Dr. Li Wenliang, an opthamologist at the center of the outbreak who tried to warn the public of the dangers. He paid for this not only with his life (dying of coronavirus) but with an official crackdown in which he was forced to recent his warnings. The truth has belatedly outed and Dr. Li has become a hero, even a martyr to his countrymen, as Beijing scrambles to belatedly look concerned.
Coronavirus has crippled the Chinese economic recovery on which the gaming industry was counting. Inflation has hit 5.5%, its highest mark in
friendly state … but a 19% upsurge in revenue? In January, no less? Well, I suppose people have to go somewhere when it’s cold outside but the amount of discretionary dollars they have to spend is pretty impressive, especially when you consider that the out-of-season racinos did 20.5% better this year. Not even an extra weekend day (and there will be another in February) comes close to explaining it.
thought they had reached an accommodation with the Empire State. The state gaming commission is defying the court by continuing to maintain its position that DFS is a skill game. The ruling, nonetheless, makes New York one of six states where DFS is illegal. As Fox Business reports, “Some states, such as the gambling capital of America, Nevada, have no fantasy operations because it is seen as gambling and as a gambling operation, a company such as DraftKings would require a state gambling license.”
the MBTA station across the Mystic River. Wynn had previously considered a footbridge connection but abandoned that idea. Permitting for the bridge continues to be sought but the smart money’s now on the prospect of Wynn switching its loyalty to the tram, at least if it’s required to subsidize something. Reports the Boston Globe, “Everett officials have long looked across the Mystic with envy at Somerville, where a vibrant community of shops, restaurants, apartments and offices sprouted up at Assembly Row, spurred in part by the T station’s opening in 2014. Commuter rail trains roll through Everett, meanwhile, but do not stop there.”
leverage at a rate quicker than modeled, although the +24% stock-price euphoria that followed the Barstool Sports acquisition might be subsiding. Robust market segments were the South and West, offsetting challenges in the Upper Midwest and in the Northeast (read: Encore Boston Harbor … but still a cash cow, generating $621 million). Rent payments were a tad higher than anticipated and launching Penn’s sports-betting application incurred some one-time charges. On the plus side, sports betting is propelling higher table-game volume and 
down 2%. MGM had 40% market share to Maryland Live‘s 35.5%. The latter grossed $52 million for a 12% gain. Horseshoe Baltimore‘s decline softened, down only 4.5% with a $19 million gross. (But it was the only revenue-negative property in the state.) Everybody else had a big month. Ocean Downs was up 11% to $5 million, Hollywood Perryville hit the jackpot, gaining 12% to $6 million and Golden Entertainment‘s Rocky Gap Resort leapt 10.5% to $4.5 million. A 10% gain in slot play boosted West Virginia revenues 8%, with Charles Town Races ceding 6% at the tables but recouping 11% at the slots for a 7% uptick overall.
Reeg had to assure regulators that the company would invest $500 million (there goes that highly touted half-billion cost savings) in the Pelican State if approved. That includes redoing all-but-defunct Belle of Baton Rouge “a venue so decrepit the gaming boss wouldn’t even stay there during his recent visit,” reports Casino.org. We’re glad of anything that lights a fire under Reeg to upgrade that casino, which generates negligible revenue.
purpose is to hang out with the Boston Red Sox, not that being seen with a bunch of cheaters is the world’s greatest PR idea. His new business plan is to emphasize events: more comedy acts, more concerts, more sports … more things other than gambling. He’s basically waving a white flag at Foxwoods Resort Casino and Mohegan Sun, tacitly admitting that seasoned gamblers aren’t going to change their playing habits easily (if at all).
Betting the farm on Japan, CEO of MGM Resorts International Jim Murren has realized his goal of selling MGM Grand and Mandalay Bay. The price 
receipts rose 5.5% last month. The gross was $124 million, with most of that ($94 million) coming from the state’s northern tier. Last year December was flat, despite nine weekend days, which makes this year’s performance even more impressive. Driving the increase among the northerly casinos were Rivers Casino Des Plaines and Grand Victoria in Elgin. At the former, Churchill Downs saw a 17.5% revenue spike to a market-leading $45 million. The latter, Eldorado Resorts-owned riverboat grew 10% to $14 million.
million—a 4.5% gain—led the state. Slots were down 2% at MGM but table win up 12%, a development that will thrill management, since table games are taxed far more conservatively. MGM had 42% of market share to Maryland Live‘s 35%. The latter was up 3.5% to $52 million. Horseshoe Baltimore, which has become an authority on alienating players—
Penn’s $11 billion debt overhang. As a return on investment 
are whether the market can support such a casino and would the state benefit from it? Rush Street Gaming will be all gung-ho for the move, as it’s still pushing a $677 million project in Brockton. Still, Rush Street attorneys confessed to impatience, writing, “We ask that whatever else you do … you recognize that the ongoing delay comes at a tremendous human and financial cost. We ask that you move the process forward quickly.” Oh, the humanity. Still, as the Globe puts it, “regulators are now facing an increasingly 
In 2015-6 Coates scraped by one a mere $154 million, gave herself a raise to $284 million the next year—
on whether or not the Muscogee Nation was disestablished in 1887. The original reservation, created in 1866, covered portions of eight counties. According to Casino.org, “If the court decides it was never disestablished, then the area and its citizens would be regulated, not by the state, but by the Creek Nation. It would also mean that crimes involving a tribal member as victim or perpetrator could only be tried by tribal or the federal governments.”