Category Archives: Penn National

“A quarter to forget”

Posted on August 21, 2018 by David McKee

That’s what JP Morgan analyst Joseph Greff had to say about 2Q18, adding, “The 2Q18 earnings reporting period in late July/early August was one of the worst in recent memory for U.S. Gaming as stocks with strong earnings/outlooks saw modest … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Economy, Eldorado Resorts, Environment, MGM Resorts International, Mississippi, Nevada, Penn National, Sports, Sports betting, Station Casinos, Tribal, Wall Street, West Virginia, Wisconsin | Comments Off

Infamy on the Strip; Baton Rouge obliterated

Posted on August 20, 2018 by David McKee

“Mandalay Bay” is becoming a two-word synonym for infamy. Hotels’ Daily News Service recently bannered a set of dispatches with “What Security Looks Like in post-Mandalay Bay world.” (Subscription required.) As for what Las Vegas looks like in same, well, Lego … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Economy, Eldorado Resorts, GLPI, Isle of Capri, Las Vegas Sands, Louisiana, Mandalay Bay Massacre, MGM Resorts International, Penn National, Pinnacle Entertainment, Resort fees, Tilman Fertitta, Tourism, Wall Street, Wynn Resorts | Comments Off

When in Rome …

Posted on August 16, 2018 by David McKee

… don’t advertise sports betting. Actually you can’t, thanks to a new “Dignity Decree” that was the first priority of Prime Minister Giuseppe Conte‘s right-wing government. The provocation was a proliferation of gaming advertising during Italy‘s World Cup games. As a … Continue reading →

Posted in Arizona, Australia, Baseball, Boyd Gaming, California, Eldorado Resorts, Environment, International, Marketing, Nevada, Penn National, Politics, Problem gambling, Regulation, Sports, Sports betting, Station Casinos, Tribal, TV, Wall Street | Comments Off

Good/bad news for Atlantic City; Pennsylvania just bad

Posted on August 15, 2018 by David McKee

On the face of it, the news from Atlantic City is good: Gambling revenues were up 10% last month. But the same-store comparison (i.e., minus Hard Rock Atlantic City and Ocean Resort) has the city down 9.5%. The haul was … Continue reading →

Posted in Atlantic City, Bruce Deifik, Caesars Entertainment, Dan Gilbert, Detroit, Eldorado Resorts, Greenwood Racing, Hard Rock International, Internet gambling, Las Vegas Sands, Massachusetts, MGM Resorts International, Mohegan Sun, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Rush Street Gaming, Sports betting, Tilman Fertitta, Tropicana Entertainment, Wall Street | 1 Comment

A bright shining turkey

Posted on August 15, 2018 by David McKee

“We didn’t plan to open until March. So this is, literally, found money. We didn’t even budget for it. Wait and see what happens when we get this engine fully running.” That was the excuse made by a Resorts World … Continue reading →

Posted in Downtown, Economy, Entertainment, Genting, New York, Penn National, Sports betting, Technology, The Strip, Wall Street, West Virginia | Comments Off

Pols slow to move on sports betting

Posted on August 14, 2018 by David McKee

We thought we’d check up on what some of our favorite state legislators are doing about sports betting, now that it’s theoretically legal in their state (well, it’s complicated). In New York, Assemblyman Gary Pretlow (D) intends to introduce a … Continue reading →

Posted in California, Foxwoods, Hawaii, Idaho, Iowa, Kazuo Okada, Louisiana, Mandalay Bay Massacre, Mesquite, Mohegan Sun, New York, Penn National, Politics, Sports betting, Technology, Tourism, Transportation | Comments Off

Missouri becalmed; Scientific smackdown

Posted on August 13, 2018 by David McKee

One less weekend day was costly to Missouri casinos in July, when their revenue declined 2% to $150.5 million. The Kansas City market had the worst of it, off nearly 4%. Slot revenues ($128.5 million) were down 2% and table … Continue reading →

Posted in Ameristar, Bally Technologies, Caesars Entertainment, Downtown, Elaine Wynn, Eldorado Resorts, history, Isle of Capri, Massachusetts, Missouri, Penn National, Pinnacle Entertainment, Regulation, Scientific Games, Shuffle Master, Technology, Tropicana Entertainment, Wynn Resorts | Comments Off

Take that, Philippines!; NY casino out-brews rivals

Posted on August 8, 2018 by David McKee

Think you’ve got a casino, Landing International? Guess again. Ground had scarcely been broken on a $1.5 billion megaresort, which had been making headlines across the Pacific Rim, when Philippines despot Rodrigo Duterte unilaterally canceled the project. A flunky said Landing … Continue reading →

Posted in Australia, Dining, Election, Entertainment, Genting, Hard Rock International, Las Vegas Sands, New York, Penn National, Philippines, Rhode Island, Singapore, Technology, Tourism, Tribal | Comments Off

Casino revenues surge (almost) everywhere

Posted on August 8, 2018 by David McKee

Maryland casino business continues to boom, up 5.5% last month. MGM National Harbor led the pack with $58 million. It will, however, be a source of dismay to ownership that play continues to trend toward highly taxed (60%) slots and … Continue reading →

Posted in Caesars Entertainment, Churchill Downs, Cordish Co., Dan Gilbert, Eldorado Resorts, Galaxy Entertainment, Golden Gaming, Las Vegas Sands, Lawrence Ho, Macau, Maryland, Melco Resorts & Entertainment, MGM Resorts International, Ohio, Penn National, Pinnacle Entertainment, Racinos, Sheldon Adelson, Sociedade de Jogos de Macau, Taxes, West Virginia, Wynn Resorts | Comments Off

Illinois takes a dive; Okada gets nabbed

Posted on August 7, 2018 by David McKee

Illinois casinos had been bumping along nicely in the Trump economy until they hit a plain old speed bump last month, with revenues down almost 4%, on a gross of $119 million, $39 million of which was generated by Rivers … Continue reading →

Posted in Atlantic City, Australia, Boyd Gaming, Caesars Entertainment, Crown Resorts, Economy, GLPI, Illinois, Kazuo Okada, Law enforcement, Massachusetts, MGM Resorts International, Penn National, Regulation, Rush Street Gaming, Scientific Games, Slot routes, Sports betting, Technology, Wall Street, Wendover, Wynn Resorts | Comments Off

San Manuel escalates tribal skirmish; Pullback on paid parking?

Posted on July 27, 2018 by David McKee

The SoCal arms race continues. Having already deployed a mind-boggling 4,800 slot machines, San Manuel Casino is going upscale in a big way. It will add a concert hall, spa, pool plaza and hotel, all to the tune of $550 … Continue reading →

Posted in Architecture, California, Cordish Co., Greenwood Racing, Penn National, Pennsylvania, Politics, The Strip, Tourism, Tribal, Wynn Resorts | 3 Comments

Penn bullish on Trop; Boyd wows Wall Street

Posted on July 27, 2018 by David McKee

M Resort and Tropicana Las Vegas are no longer the charity cases of Penn National Gaming. The company made a point of lauding them during this week’s earnings call, with JP Morgan analyst Joseph Greff characterizing their performance — along … Continue reading →

Posted in Boyd Gaming, Derek Stevens, Downtown, Geoff Freeman, Illinois, Indiana, International, Las Vegas Sands, M Resort, Massachusetts, Missouri, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Sheldon Adelson, Slot routes, The Strip, Tribal, Wall Street | 1 Comment

MGM lauds Springfield as Mandalay Bay woes increase

Posted on July 25, 2018 by David McKee

MGM Resorts International is targeting Hartford (and five other media markets) with its initial TV spot for MGM Springfield, whose opening is now less than a month away. The ad, which you can see for yourself, has shoutouts to virtually … Continue reading →

Posted in Cirque du Soleil, Elaine Wynn, Environment, Law enforcement, Mandalay Bay Massacre, Marketing, Massachusetts, MGM Resorts International, New York, Penn National, Pennsylvania, Regulation, Reno, Rhode Island, Sexual misconduct, Sports betting, Taxes, TV, Wynn Resorts | Comments Off

Wynn Resorts fights back; Rage against the (slot) machine

Posted on July 17, 2018 by David McKee

Not taking charges of promising kickbacks lying down, Wynn Resorts has countersued Anthony Gattineri. The latter has thrown yet another spanner into the Encore Boston Harbor works by suing the company for an $18 million, under-the-table promise he says was … Continue reading →

Posted in Architecture, history, Internet gambling, Macau, Massachusetts, Minnesota, Penn National, Rhode Island, Sahara, Sam Nazarian, SLS Las Vegas, Wisconsin, Wynn Resorts | 1 Comment

The pleasant clink of coins

Posted on July 13, 2018 by David McKee

Only Mohegan Sun at Pocono Downs and Lady Luck Nemacolin saw revenue declines at the slot machines last month. All other Pennsylvania casinos were revenue-positive, especially Parx Casino, up 10.5% to $35 million. Another overachiever was Valley Forge Resort Casino, … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Charity, Churchill Downs, Eldorado Resorts, Genting, Greenwood Racing, Illinois, Las Vegas Sands, Mohegan Sun, Penn National, Pennsylvania, Pinnacle Entertainment, Rush Street Gaming, Slot routes | Comments Off

Busted!

Posted on July 13, 2018 by David McKee

Former New York Knicks great Charles Oakley fouled out big-time at The Cosmopolitan of Las Vegas. The veteran roundballer, who made $46 million during his playing career, wound up in the clink over a $100 casino chip. Oakley tried to … Continue reading →

Posted in Cosmopolitan, Culinary Union, Florida, Fontainebleau, Genting, history, Law enforcement, Macau, New York, Penn National, Problem gambling, Regulation, Sports, The Strip | 1 Comment

Casa Shenandoah closes; Culinary escalates tactics

Posted on July 12, 2018 by David McKee

Call it a day for another Wayne Newton business venture. Mr. Las Vegas is closing Casa Shenandoah to the public, no reason given (although a recent break-in might have influenced the decision). “It is the Applicant’s intent that the property revert … Continue reading →

Posted in Boyd Gaming, Culinary Union, Derek Stevens, Downtown, Downtown Grand, Election, history, Horseracing, Idaho, Indiana, Minnesota, Penn National, Phil Ruffin, Regulation, SLS Las Vegas, Sports betting, The Strip, Tilman Fertitta, Tourism, Transportation, Tribal, Wayne F. Newton, Westgate LV | 1 Comment

A tale of four states

Posted on July 10, 2018 by David McKee

Illinois‘ casino industry has never recovered from the Great Recession. We’ll never know if it would have done so but the inception of slot routes has basically nipped any recovery in the bud. As such, the Land of Lincoln will … Continue reading →

Posted in Affinity Gaming, Ameristar, Boyd Gaming, Caesars Entertainment, Centaur Gaming, Dan Gilbert, Economy, Eldorado Resorts, Full House Resorts, GLPI, Illinois, Indiana, Majestic Star, MGM Mirage, Ohio, Penn National, Pinnacle Entertainment, Racinos, Rush Street Gaming, Slot routes, Tribal, Tropicana Entertainment, Wall Street | Comments Off

Big business in Maryland; Pricey New York-New York goof

Posted on July 6, 2018 by David McKee

The gap between the haves and have-nots in Maryland widened last month, as the state’s gaming revenue boomed 14% upward. The good news is that every casino had a revenue-positive month. MGM National Harbor, of course, led the pack, grossing $59 … Continue reading →

Posted in California, Cordish Co., Culinary Union, Golden Gaming, Harrah's, Maryland, MGM Mirage, Penn National, The Strip, Tribal, West Virginia | Comments Off

Caesars gets swatted; Remembering Rappaport

Posted on July 5, 2018 by David McKee

While the Caesars Entertainment takeover of Centaur Gaming is still expected to go through, it won’t be without some pain for Caesars. The Roman Empire has agreed to pay a $1 million for improperly attempting to influence Hoosier State regulators … Continue reading →

Posted in Ameristar, Boyd Gaming, Centaur Gaming, Foxwoods, Geoff Freeman, Harrah's, Indiana, Penn National, Pinnacle Entertainment, Regulation | Comments Off