Category Archives: Penn National

Near-ideal month in Atlantic City

Posted on September 16, 2019 by David McKee

Atlantic City casinos were, despite an extra weekend day in August, up only 6%. But, more importantly, all except one either stood their ground or grew business. They grossed $286.5 million, with symmetrical increases in slot and table revenue. A … Continue reading →

Posted in Atlantic City, Boyd Gaming, Caesars Entertainment, China, Detroit, Donald Trump, Eldorado Resorts, Entertainment, Full House Resorts, Greenwood Racing, Hard Rock International, Indiana, International, Internet gambling, MGM Resorts International, Mohegan Sun, New Jersey, Ocean Resort, Ohio, Palms, Penn National, Pennsylvania, Philippines, Regulation, Sports, Sports betting, Taxes, Tilman Fertitta, Tribal, Virginia, Wall Street | 2 Comments

Wall Street: The Strip is all right; Rivals pile into Waukegan

Posted on September 16, 2019 by David McKee

JP Morgan analyst Joseph Greff has just returned from a two-day field trip to Las Vegas. His overall reaction was “incrementally positive.” He said he sensed “a fairly steady trend line in terms of overall spend and net revenue performance.” … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Conventions, Dan Gilbert, Dan Lee, Detroit, Dining, Entertainment, Full House Resorts, Illinois, Japan, Las Vegas Raiders, Las Vegas Sands, Macau, Marketing, Maryland, MGM Resorts International, Ohio, Palms, Penn National, Resort fees, Rush Street Gaming, Sahara, Sports betting, The Strip, Tribal, Wall Street, Warner Gaming, Wisconsin | Comments Off on Wall Street: The Strip is all right; Rivals pile into Waukegan

Ohio gallops, Missouri trots

Posted on September 10, 2019 by David McKee

Ohio gambling revenues were up 4% last month, coming in at $164.5 million. Most of that was driven by a particularly good month at the racinos. Hollywood Columbus‘ $19 million represented a 4% gain while Hollywood Toledo hauled in $17 … Continue reading →

Posted in Boyd Gaming, Churchill Downs, Dan Gilbert, Eldorado Resorts, Horseracing, MGM Resorts International, Missouri, Ohio, Penn National | 1 Comment

Lesser is more; Are you ready for some football betting?

Posted on September 9, 2019 by David McKee

It’s been rather vexing to hear the voices in Massachusetts squawking to have the casino-enabling legislation enacted under Deval Patrick torn up and replaced with a series of loopholes. After two years of knowing that Encore Boston Harbor was headed … Continue reading →

Posted in Economy, Entertainment, Foxwoods, Internet gambling, Marijuana, Massachusetts, MGM Resorts International, Mohegan Sun, Penn National, Philippines, Politics, Racinos, Sports betting, The Strip, Transportation, TV | 1 Comment

Maryland good, Illinois becalmed, MGM furious

Posted on September 9, 2019 by David McKee

Maryland‘s casino industry showed continued health last month, up 5.5%. MGM National Harbor had 40.5% of market share while Maryland Live corralled 34.5% of trade. MGM grossed $62.5 million, with low-tax table games up 10% as opposed to only 4% … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Connecticut, Cordish Co., Eldorado Resorts, GLPI, Golden Gaming, Hard Rock International, Illinois, International, Internet gambling, Las Vegas Raiders, Las Vegas Sands, Law enforcement, Lotteries, Macau, Maryland, Mohegan Sun, Penn National, Pennsylvania, Regulation, Rush Street Gaming, Slot routes, South Dakota, Sports, Wall Street, West Virginia | 1 Comment

‘Wynn-wash’ in Boston; MGM, Sahara soak customers

Posted on September 9, 2019 by David McKee

Encore Boston Harbor President Robert DeSalvio gives us the nitty-gritty (emphasis on gritty) of developing the Massachusetts megaresort. For instance, I’ll bet you didn’t know Wynn Resorts rented 600 railroad cards to—repeatedly—haul arsenic-tainted soil from the site, trucked off to Georgia, … Continue reading →

Posted in Architecture, Cretins, Detroit, Downtown, Entertainment, Environment, Hard Rock Hotel, Iowa, Las Vegas Sands, MGM Resorts International, Nebraska, Nevada, Palms, Penn National, Pennsylvania, Resort fees, Sahara, Sports betting, Station Casinos, Technology, Terry Caudill, Transportation, Wynn Resorts | Comments Off on ‘Wynn-wash’ in Boston; MGM, Sahara soak customers

Honeymoon over in Massachusetts; Drive like Elvis

Posted on September 3, 2019 by David McKee

Encore Boston Harbor has been open only two months. MGM Springfield just passed its one-year anniversary. And yet, the Boston Globe is already tossing around the ‘S’ word—saturation. Saying that casino executives might not like hearing it, the paper rejoined, … Continue reading →

Posted in AGA, Arizona, Caesars Entertainment, California, Economy, Entertainment, history, Massachusetts, MGM Resorts International, Mississippi, Penn National, Rhode Island, Transportation, Wynn Resorts | Comments Off on Honeymoon over in Massachusetts; Drive like Elvis

Cherokee go to D.C. (maybe); Ivey cleaned out

Posted on August 29, 2019 by David McKee

Native American tribes have a hard time being heard in Washington, D.C.  So it was past time that the Cherokee Nation took advantage of a treaty provision two centuries old and nominated a delegate to our nation’s capitol. The actual decision … Continue reading →

Posted in Atlantic City, California, Dining, Economy, history, Iowa, Las Vegas Sands, Law enforcement, MGM Resorts International, Oklahoma, Penn National, Politics, Regulation, The Strip, Tourism, Tribal, William Hill, World Series of Poker | 1 Comment

Massachusetts: Isn’t that special?

Posted on August 26, 2019 by David McKee

Although the Boston Globe gets a bit overheated about Tom O’Connell aspirations for a Region C casino they don’t get it wrong when they say O’Connell and associates “want to rewrite the rule book to suit their needs.” That means, … Continue reading →

Posted in Colorado, Hooters, Horseracing, Macau, Massachusetts, Melco Resorts & Entertainment, MGM Resorts International, Mississippi, Neil Bluhm, New York, Oregon, Paragon Gaming, Penn National, Pennsylvania, Regulation, Rush Street Gaming, Sociedade de Jogos de Macau, Sports betting, Station Casinos, Technology, Tribal, Wynn Resorts | Comments Off on Massachusetts: Isn’t that special?

Resort fees likely to worsen; Fertitta preaches caution

Posted on August 22, 2019 by David McKee

All hail Terry Caudill. His Four Queens is one of the very few hotel-casinos in Las Vegas to eschew resort fees. At least that’s what the Reno Gazette-Journal tells us. The RGJ took a deep dive into the resort-fee issue … Continue reading →

Posted in Atlantic City, Boyd Gaming, Caesars Entertainment, Downtown, Economy, Eldorado Resorts, Full House Resorts, Indiana, International, Internet gambling, Laughlin, Law enforcement, MGM Resorts International, Penn National, Resort fees, Sports, Sports betting, Terry Caudill, Tilman Fertitta, Wall Street | 2 Comments

What if they built a megaresort and nobody came?

Posted on August 20, 2019 by David McKee

Resorts World Catskills made it into the New York Times and not in a good way. A feature story focused on the $1.2 billion megaresort’s financial difficulties, caused in part by nine-figure loans. Empire Resorts says the casino does not … Continue reading →

Posted in Caesars Entertainment, Cambodia, CityCenter, Genting, Internet gambling, Massachusetts, MGM Resorts International, Neil Bluhm, New York, Penn National, Politics, Racinos, Regulation, Rush Street Gaming, Steve Wynn, Taxes, The Strip, Tribal | 2 Comments

Gaming and its discontents

Posted on August 19, 2019 by David McKee

Iowa, Nebraska and Council Bluffs continue to have their collective ass kicked in court by the Ponca Tribe of Nebraska. The latest drubbing occurred in federal district court. The plaintiffs filed motions arguing that, since Judge Stephanie Rose had asked … Continue reading →

Posted in Cambodia, Connecticut, Cordish Co., Foxwoods, Genting, Iowa, Las Vegas Sands, Macau, MGM Resorts International, Mohegan Sun, Money laundering, Nebraska, New York, Penn National, Pennsylvania, Politics, Sheldon Adelson, Sports, Sports betting, Tourism, Transportation, Tribal, Wall Street | 2 Comments

Chicago: Lightfoot’s folly; Penn mulls Trop expansion

Posted on August 19, 2019 by David McKee

Between 72% taxes and 30% operating costs, a Chicago casino is a money-losing proposition, at best one eking out a 3% profit. Union Gaming Group minced few words, reporting, “The [$15 million] reconciliation fee alone would wipe out any profits generated … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Eldorado Resorts, GLPI, Illinois, Louisiana, Oklahoma, Penn National, Politics, Slot routes, Sports, Sports betting, Taxes, Texas, The Strip, Tilman Fertitta, Tribal, Wall Street, West Virginia | 4 Comments

Encore vanquishing competition; Newcomers dominate Atlantic City

Posted on August 19, 2019 by David McKee

Encore Boston Harbor, the best-smelling casino on the East Coast, had a crushing month, its first full one of operation. Its $48.5 million in revenue accounted for 60% of all Massachusetts gaming revenues. That breaks down as almost $1.6 million/day … Continue reading →

Posted in Atlantic City, Boyd Gaming, Caesars Entertainment, Churchill Downs, Connecticut, Detroit, Eldorado Resorts, Entertainment, Foxwoods, Greenwood Racing, Hard Rock International, Internet gambling, Marketing, Maryland, Massachusetts, MGM Resorts International, Mohegan Sun, Ocean Resort, Penn National, Pennsylvania, Rhode Island, Rush Street Gaming, Sports, Sports betting, Tilman Fertitta, Tribal, Wynn Resorts | 2 Comments

Canaries in the coal mine, casinos in the slums

Posted on August 14, 2019 by David McKee

Stocks nose-dived yesterday after “an odd bond market phenomenon that has been a reliable indicator of economic recessions. Investors, worried about the state of the economy, rushed to long-term safe haven assets, pushing the yield on the benchmark 30-year Treasury bond … Continue reading →

Posted in Donald Trump, Economy, Greenwood Racing, Illinois, International, Iowa, Law enforcement, Macau, Massachusetts, Penn National, Pennsylvania, Politics, Regulation, Sports betting, Taxes, Wall Street, Wynn Resorts | 3 Comments

Rough month in Indiana, rougher in Missouri

Posted on August 12, 2019 by David McKee

Indiana gaming revenues nosed down 3% last month, for a total gross of $181 million. JP Morgan analyst Joseph Greff blames it on adverse weather from Hurricane Barry, plus intensified competition in the Louisville area. Both racinos were revenue-positive, with Hoosier … Continue reading →

Posted in Architecture, Boyd Gaming, Caesars Entertainment, Centaur Gaming, Eldorado Resorts, Entertainment, Environment, Full House Resorts, Genting, Indiana, Kentucky, Massachusetts, MGM Resorts International, Missouri, Penn National, Spectacle Entertainment, The Strip, Tribal, Wynn Resorts | Comments Off on Rough month in Indiana, rougher in Missouri

Paging Steve Wynn; Genting mismanages risk

Posted on August 8, 2019 by David McKee

Somebody alert Steve Wynn. The mega-Walgreens at the northwest corner of Las Vegas Boulevard and Sahara Avenue is on the market as a “Once in a Generation High Profile Asset.” OK, the footprint is relatively small but the seller is … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Dan Gilbert, Eldorado Resorts, Genting, GLPI, Illinois, MGM Resorts International, Ohio, Oklahoma, Penn National, Resort fees, Rush Street Gaming, Singapore, Steve Wynn, Taxes, The Strip, Wall Street | 1 Comment

Maryland just fine; Next stop, Hartford?

Posted on August 7, 2019 by David McKee

Gaming revenues were up 2% last month in Maryland, good for $149 million. $61 million of that was won by MGM National Harbor (+4%). Market share was dominated by MGM (41%) and Maryland Live (33%). The Cordish Gaming property grossed $49 … Continue reading →

Posted in Australia, Caesars Entertainment, Churchill Downs, Connecticut, Cordish Co., Cretins, Crown Resorts, e-sports, Foxwoods, International, Internet gambling, Macau, Maryland, MGM Resorts International, Mohegan Sun, Penn National, Politics, Problem gambling, Sports betting, Wall Street, West Virginia | Comments Off on Maryland just fine; Next stop, Hartford?

Hooters out, Oyo in?; Crown in hot water

Posted on August 5, 2019 by David McKee

Hooters Hotel Casino, the brand that should have worked in Las Vegas but didn’t, may finally be on the way out. VitalVegas reports that hotelier Highgate may be rechristening Hooters with its Oyo brand. Highgate already operates hotels in the … Continue reading →

Posted in AGA, Atlantic City, Australia, Crown Resorts, Detroit, Diversity, Environment, Hooters, Illinois, James Packer, Law enforcement, Louisiana, Marketing, Maryland, Massachusetts, MGM Resorts International, Money laundering, Paragon Gaming, Penn National, South Carolina, Sports, Sports betting, The Strip | 2 Comments

Sands: Waiting for Japan; I-gaming raids hit Singapore, Vietnam

Posted on August 1, 2019 by David McKee

It’s difficult to imagine investors being impatient with Las Vegas Sands but The Motley Fool‘s Travis Hoium suggests that they are. “Unless a new market like Japan hits, that cash flow machine is all Las Vegas Sands has to offer,” … Continue reading →

Posted in Horseracing, Internet gambling, Japan, Las Vegas Sands, Law enforcement, Macau, Maine, Massachusetts, North Carolina, Penn National, Pennsylvania, Pets, Singapore, Sports betting, Vietnam, Wall Street | Comments Off on Sands: Waiting for Japan; I-gaming raids hit Singapore, Vietnam