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Category Archives: Penn National
Gaming speaks: Penn, Boyd, Eldorado, Churchill Downs
One of the few CEOs to grace JP Morgan‘s hotel-and-leisure forum was Penn National Gaming‘s Tim Wilmot. He reported that the “regional consumer remains solid and trends are largely consistent with that seen 2018.” Furthermore, Penn is “seeing good growth … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Economy, Eldorado Resorts, Horseracing, Illinois, Japan, Kentucky, Marketing, Nevada, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Reno, Sports betting, The Strip, Tropicana Entertainment, Wall Street
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Macao: Waiting to exhale; Trump gets favorable odds
Macao‘s government has announced—in what is not exactly a surprise—that it will extend the MGM China and Sociedade de Jogos de Macau concessions until June 26, 2022. This not only creates a level playing field for all concessionaires, it gives … Continue reading
Posted in Donald Trump, Economy, Election, International, Macau, MGM Resorts International, Penn National, Pennsylvania, Service, Sociedade de Jogos de Macau
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MGM covets Caesars; Rio up for grabs … again
As Carl Icahn continues to up his stake in Caesars Entertainment, the already-tortuous saga has developed some new complexities. For one, outgoing CEO Mark Frissora has revealed he wasn’t jumped, he was pushed. “The board has stated that they would like … Continue reading
Atlantic City rallies, Pennsylvania snoozes
Given that a certain amount of cannibalization was inevitable with the debuts of two new casinos on the Boardwalk, a 5% February decline in same-store gambling revenue has to considered a pretty good result. The market overall was up a … Continue reading
Posted in Atlantic City, Boyd Gaming, Caesars Entertainment, Churchill Downs, Dan Gilbert, Detroit, Eldorado Resorts, Genting, Greenwood Racing, Hard Rock International, Las Vegas Sands, MGM Resorts International, Mohegan Sun, Ocean Resort, Penn National, Pennsylvania, Racinos, Rush Street Gaming, Sports betting, Tilman Fertitta, William Hill
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Midwest report; Icahn caps his bet; Churchill Downs grows
Missouri was down 4% last month, no explanation given, with a statewide gross of $134 million. The decline was driven by lower slot play, as table-game revenues ($20 million) were up 7%. Penn National Gaming had a good result at … Continue reading
Posted in Affinity Gaming, Ameristar, Boyd Gaming, Caesars Entertainment, Carl Icahn, Churchill Downs, Eldorado Resorts, Internet gambling, Iowa, Isle of Capri, Kansas, Law enforcement, Michigan, Missouri, New Hampshire, New Jersey, Penn National, Pennsylvania, Sports, Sports betting
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Business as usual
Ohio casinos grossed $155 million last month, a 5.5% increase. Hollywood Toledo was 2.5% to $16 million and Hollywood Columbus rose 3% to $19 million. Hollywood Dayton was also up 3% to $9 million. Hollywood Mahoning Valley leapt 7% to $10 … Continue reading
Posted in Ameristar, Animals, Boyd Gaming, Caesars Entertainment, California, Cantor Gaming, Churchill Downs, Dan Gilbert, Eldorado Resorts, Full House Resorts, Horseracing, Indiana, Japan, M Resort, Macau, Majestic Star, Massachusetts, MGM Resorts International, Movies, Ohio, Penn National, Regulation, Sports betting, The Strip, Wall Street, William Hill, Wynn Resorts
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MGM: No robots here; Resort fees fester
Our post yesterday about “robot” bartenders coming to MGM Resorts International properties on the Las Vegas Strip struck a nerve in the lion’s den. Understandably concerned with the mental image of customers expecting to get their drinks from a Cylon, … Continue reading
Illinois: Sunken treasure; Maryland finally maxes out
Like February 2018, last month was bad for Illinois casinos, sliding another 6.5% into the maw of slot routes. One outlier should be noted: Harrah’s Metropolis was and remains closed due to flooding, causing a 32% precipice in revenue, grossing … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Cordish Co., Eldorado Resorts, Illinois, Maryland, MGM Resorts International, Penn National, Rush Street Gaming, Slot routes, Wall Street, West Virginia
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Caesars dominates Louisiana; Steve Wynn wins in Beantown
Gaming revenue in Louisiana was flat last month, with strength in Shreveport and New Orleans making up for weakness in (mainly) Baton Rouge and Lake Charles. It’s difficult to account for the 3% dip in Lake Charles, aside from the … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Eldorado Resorts, GLPI, Internet gambling, Louisiana, Massachusetts, Penn National, PokerStars, Politics, Regulation, Steve Wynn, Tilman Fertitta, Tropicana Entertainment, West Virginia
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Atlantic City: Ocean Resort stages a rally
Atlantic City is weathering the winter months about as well as can realistically be hoped. Same-store revenues were down 8% last month but up 9% overall. Ocean Resort ($12.5 million) actually crept past Bally’s ($12 million) and up on Resorts … Continue reading
Posted in Atlantic City, Boyd Gaming, Bruce Deifik, Caesars Entertainment, Churchill Downs, Dan Gilbert, Detroit, Eldorado Resorts, Genting, Greenwood Racing, Hard Rock International, Internet gambling, Las Vegas Sands, MGM Resorts International, Mohegan Sun, New Jersey, New York, Penn National, Pennsylvania, Racinos, Rush Street Gaming, Sports betting, Tilman Fertitta
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A change of heart on loco weed; Miller briefs Congress
In a development certain to make Nevada resort owners grind their teeth in envy, cannabis is predicted to be this year’s wellness trend. As you know, Nevada gaming regulators have hung a “Do Not Enter” sign on the recreational-marijuana industry … Continue reading
Bluhm’s big push; Gary dissed; Oscar betting debuts
Neil Bluhm isn’t waiting like some blushing wallflower for the Massachusetts Gaming Commission to approve him for a casino in Brockton. He’s spent $430,000 on Beacon Hill to make his $700 million casino project in reality. To put that in … Continue reading
Posted in Ameristar, Architecture, Caesars Entertainment, Cirque du Soleil, Economy, Entertainment, Genting, Indiana, Iowa, Law enforcement, Majestic Star, Massachusetts, Movies, Neil Bluhm, Penn National, Politics, Regulation, Rhode Island, Rush Street Gaming, Sports, Sports betting, The Strip, Tribal
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Churchill Downs pwns Caesars; Kentucky covets casinos
Cold weather helped chill Indiana casino revenues last month, down 6%. The Hoosier State’s casinos and racinos grossed $154 million. Horseshoe Southern Indiana continues to bleed business to Churchill Downs‘ Derby City, hemorrhaging 10% to $16.5 million. Full House Resorts … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, DFS, e-sports, Eldorado Resorts, Full House Resorts, Indiana, Internet gambling, Kentucky, Macau, Marketing, Massachusetts, MGM Resorts International, New York, Penn National, Politics, Racinos, Sports, Sports betting, Taxes, Technology, Tilman Fertitta, Wall Street, Wynn Resorts
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Monorail to the rescue of Grand Bazaar; Golden Nugget on the block?
We thought the Las Vegas Monorail was the biggest charity case on the Las Vegas Strip. However, the Grand Bazaar Shops — where Strip retail finally jumped the shark — is apparently even worse off. We say this because of … Continue reading
Maryland booms, Illinois frozen out; Resort fees to rise … again
Business continues to boom for MGM National Harbor, which raked in $57 million last month, 12% growth and 41% of the Free State’s $137 million gross gaming revenue. Maryland Live‘s 34% market share translated into a gross of $46 million. Horseshoe … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Colorado, Cordish Co., Detroit, Dining, Economy, Entertainment, GLPI, Golden Gaming, Illinois, Las Vegas Raiders, Louisiana, Maryland, MGM Resorts International, New Jersey, Penn National, Pennsylvania, Pinnacle Entertainment, Resort fees, Rush Street Gaming, Sports, Sports betting, The Strip, Wall Street, West Virginia
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Super Bowl generates heavy action; Hard Rock marquee finds retirement home
$325 million. That’s the legal handle that PlayUSA.com is predicting will be wagered on Super Bowl LIII. Nevada will have the plurality of bets, some $160 million, with New Jersey seeing $100 million in action, including online wagers. The nascent … Continue reading
Posted in AGA, Arizona, CityCenter, Entertainment, Hard Rock Hotel, history, International, Internet gambling, Mississippi, Movies, New Jersey, New Mexico, Penn National, Pennsylvania, Rhode Island, Sports, Sports betting, Tourism, West Virginia
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Louisiana: What happened?; Wynn wins historic victory
While most jurisdictions performed impressively last month, Louisiana was down 2.5%. How to account for the slippage? True, the drive-in driven Shreveport/Bossier City market was off 1.5%. But the real culprit was Baton Rouge, toppling 15.5% and ravaged by the new … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Dining, Eldorado Resorts, Environment, GLPI, Greenwood Racing, International, Las Vegas Sands, Louisiana, Macau, Penn National, Pennsylvania, Rush Street Gaming, Sports betting, Tilman Fertitta, Tourism, Vietnam, Wall Street, William Hill, Wynn Resorts
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Massachusetts mulls sports betting
Massachusetts is expected to be one of the prime movers on the sports-betting front and, to that end, three bills have been filed in the Lege, no doubt much to the interest of homeboys DraftKings, the New England Patriots and … Continue reading
Posted in Dining, IGT, Macau, Marketing, Massachusetts, Melco Resorts & Entertainment, Mississippi, Penn National, Politics, South Dakota, Sports, Sports betting
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Atlantic City: Managing expectations; Prosperity in Pennsylvania, Detroit
Grossing $209 million last month, the Atlantic City casino market continues to grow, up 12% in the dead of winter, even if it was 7% down on a same-store basis. That’s a tradeoff the industry will have to accept, as … Continue reading
Posted in Atlantic City, Boyd Gaming, Bruce Deifik, Caesars Entertainment, Churchill Downs, CityCenter, Dan Gilbert, Detroit, Dining, Economy, Eldorado Resorts, Las Vegas Sands, Macau, MGM Resorts International, Mohegan Sun, Penn National, Pennsylvania, Rush Street Gaming, Tilman Fertitta, Wall Street
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Indiana, Missouri have good months; Hands-free vibrators conquer Las Vegas
Casinos in Indiana grossed $187 million last month, a 3% increase. Caesars Entertainment would appear to have robbed Peter (Horseshoe Southern Indiana) to pay Paul (its two racinos). Horseshoe was down 8% to $20 million, while Indiana Downs cantered past … Continue reading
Posted in Ameristar, Boyd Gaming, Caesars Entertainment, Eldorado Resorts, Ellis Island, Full House Resorts, Indiana, Isle of Capri, Majestic Star, Missouri, Penn National, Technology, The Strip, Tribal
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