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- David McKee on Sibella scandal spreads; Supremes forestall Seminoles
- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
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Category Archives: Penn National
MGM sets Springfield date; Adelson hits pay dirt
Even as it’s using MGM Springfield as a catspaw to potentially land Wynn Boston Harbor, that didn’t prevent MGM Resorts International from announcing a date certain for the Springfield opening. Mark August 24 on your calendars, for that is the day … Continue reading
Posted in Architecture, Atlantic City, Churchill Downs, Detroit, Dining, Donald Trump, Entertainment, history, Horseracing, International, Japan, Louisiana, Macau, Maine, Maryland, Massachusetts, MGM Mirage, Penn National, Singapore, South Korea, Sports, Technology, The Strip, Tribal, Wall Street, Wynn Resorts
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Wynn: The brand stays
Recently we wrote, in a different forum, that the ultimate verdict on whether to keep the “Wynn” brand on Wynn Resorts would be delivered by customers. Based on 1Q18 results, the vote is “yes.” Deutsche Bank analyst Carlo Santarelli called … Continue reading
Posted in Galaxy Entertainment, GLPI, Japan, Macau, Massachusetts, Penn National, Steve Wynn, The Strip, Wall Street
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Dubious honor for Nevada; GLPI’s big gulp
Nevada is used to getting WalletHub accolades but here’s one it didn’t want and would probably prefer to see swept under the rug … most gambling-addicted state in the U.S. And why not? There are very few states in the … Continue reading
Posted in Atlantic City, Boyd Gaming, Eldorado Resorts, GLPI, Harrah's, Hawaii, Illinois, Louisiana, MGM Mirage, Mississippi, Missouri, Nebraska, Nevada, Penn National, Pinnacle Entertainment, Problem gambling, Regulation, South Dakota, Tropicana Entertainment, Unite-Here
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MGM plays games with tribes, MGM Springfield, as Zinke steps in it
As various non-gaming related scandals gain critical mass around ersatz geologist and Secretary of the Interior Ryan Zinke, he’s found himself front and center in a casino mess in Connecticut. Seems that Zinke turned a deaf ear to career Interior … Continue reading
Mixed report from Japan; Wynn Boston Harbor up for grabs
First, the good news: The casino-regulation bill over which Japan‘s Liberal Democratic Party has slaved, may make it into the Diet by Friday, giving the Nipponese parliament just under two months to consider it. (The Diet adjourns on June 20.) … Continue reading
Japan “better than feared.” Mixed bag in Louisiana
How do evolving casino casino regulations in Japan look? Well, how does ‘not as bad as expected’ sound? Trust me, that’s good news. And don’t take my word: Take that of Morgan Stanley. Taxes will be set at 30%, which … Continue reading
Posted in Boyd Gaming, Churchill Downs, Dan Gilbert, Detroit, Eldorado Resorts, Florida, Galaxy Entertainment, GLPI, Harrah's, Isle of Capri, Japan, Louisiana, Marijuana, Massachusetts, MGM Mirage, Nevada, Penn National, Philippines, Pinnacle Entertainment, Politics, Sheldon Adelson, Taxes, Tilman Fertitta, Tropicana Entertainment, Wall Street
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Icahn out, Eldorado in; Caesars balks at Hoosier fee
Carl Icahn was in a selling mood last weekend, cashing out of Tropicana Entertainment. The buyer was Eldorado Resorts, which paid Icahn $1.85 billion, then flipped nearly all the physical assets to Gaming & Leisure Properties for $1.2 billion. Not content … Continue reading
Posted in Ameristar, Atlantic City, Carl Icahn, Centaur Gaming, Charity, Dining, Eldorado Resorts, Florida, GLPI, Hard Rock International, Illinois, Indiana, International, Internet gambling, Iowa, Lake Tahoe, Laughlin, Law enforcement, Louisiana, Massachusetts, MGM Mirage, Mississippi, Penn National, Pennsylvania, Regulation, Seminole Tribe, Tropicana Entertainment, Wall Street
1 Comment
At long last, Kansas
JP Morgan has initiated coverage of the Kansas market, long out of sight. It’s coming off a strong (up 6%) March, finishing at $40 million. Boyd Gaming‘s Kansas Star Casino & Resort was dominant, grossing $18 million on an 8% … Continue reading
Posted in Boyd Gaming, GLPI, Kansas, Penn National, Wall Street
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Bumpy month for Atlantic City; Stanley Ho has left the building
Winter has not been kind to Atlantic City, with gaming revenues down 3.5% in March ($193 million). At least Internet gaming is a bastion of strength, 17.5% more productive last month, with Golden Nugget dominating that sector with 34% market … Continue reading
Posted in Atlantic City, Churchill Downs, Dan Gilbert, Detroit, Eldorado Resorts, Greenwood Racing, Harrah's, Internet gambling, Law enforcement, Louisiana, Macau, MGM Mirage, Mohegan Sun, Neil Bluhm, Pansy Ho, Penn National, Pennsylvania, Pinnacle Entertainment, Regulation, Sheldon Adelson, Sociedade de Jogos de Macau, Stanley Ho, The Mob, Tilman Fertitta, Tropicana Entertainment
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Study zings MGM; Galaxy resort vetoed
Allowing a fourth casino into Connecticut — and thereby abrogating its gaming compacts — could be extremely costly for the Nutmeg State. That’s the conclusion of a new study by casino pundit Clyde Barrow. He writes that the new casino … Continue reading
Posted in Affinity Gaming, Ameristar, Boyd Gaming, Centaur Gaming, Economy, Environment, Foxwoods, Full House Resorts, Galaxy Entertainment, Harrah's, Majestic Star, Maryland, Massachusetts, MGM Mirage, Mohegan Sun, New York, Penn National, Philippines, Pinnacle Entertainment, Politics, Taxes, Tribal, Tropicana Entertainment
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Midwest roundup
Business was booming in Ohio, where the state’s casino industry saw revenues increase 9%. Hollywood Columbus ($22.5 million) was up 8.5% while Hollywood Toledo ($20 million) they gained 8%. Hollywood Dayton (+9%) and Hollywood Mahoning Valley (+13%) were phat, with … Continue reading
Posted in Affinity Gaming, Ameristar, Boyd Gaming, Dan Gilbert, Eldorado Resorts, GLPI, Isle of Capri, Missouri, Ohio, Penn National, Pinnacle Entertainment, Tropicana Entertainment
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MGM owns Maryland; Rumble in Deadwood
MGM National Harbor continues to devour the Maryland market, hitting a record 40% market share last month, along with a best-ever $1.95 million/day in gross gaming record, for an overall gross of $60.5 million. Less pleasing for MGM execs: Slots … Continue reading
Posted in Boyd Gaming, Churchill Downs, Cordish Co., Golden Gaming, Harrah's, Internet gambling, Law enforcement, Louisiana, Maryland, MGM Mirage, Oklahoma, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Regulation, Sheldon Adelson, South Dakota, Sports, Taxes, Tribal, West Virginia
2 Comments
Shocker: Hard Rock Rocksino sold; New top man at SLS
Despite being the dominant racino operator — hell, gaming operator — in Ohio, it seems that Hard Rock International is throwing in the towel. It’s selling Hard Rock Rocksino to MGM Growth Properties. Early Wall Street speculation is that we’re … Continue reading
Posted in ACEP, Affinity Gaming, Alex Meruelo, Boyd Gaming, Colorado, Economy, Eldorado Resorts, Florida, GLPI, Golden Gaming, Hard Rock International, Harrah's, Illinois, Isle of Capri, MGM Mirage, Neil Bluhm, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Reno, SLS Las Vegas, The Strip, Wall Street
3 Comments
Harrah’s wins in Big Easy; Could Wynn Resorts beat Boston rap?
Harrah’s New Orleans is a step away from a major makeover, now that the Louisiana House of Representatives cast a veto-proof vote in favor of a 30-year license extension, a new hotel tower and an expansion of the hotel-casino’s amenities. … Continue reading
Posted in Arkansas, Cretins, DFS, Dining, Elaine Wynn, Election, Harrah's, Horseracing, Internet gambling, Louisiana, Maine, Massachusetts, Penn National, Politics, Regulation, Sexual misconduct, Sports, Steve Wynn, Taxes, Wall Street, Wynn Resorts
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Trump takes with one hand, gives with other
The Trump administration has lent a new meaning to ‘Indian giver,’ seizing $10 million held in escrow by the Pojoaque Pueblo while the latter tries to negotiate a new compact with New Mexico. The Pojoaque Pueblo had been operating without a … Continue reading
Feds scrutinize Pinnacle sale; Diamond Jacks gets prominent supporter
As the big continue to get bigger, Penn National Gaming is two steps closer to becoming a 20-state, 41-casino mammoth. West Virginia and Pennsylvania‘s regulatory bodies have signed off on its absorption of Pinnacle Entertainment. Penn, however, is not counting … Continue reading
Fertitta conquers Lake Charles; Parking fees rise again
Gambling revenue in Louisiana was flat last month, but the bottom-line number doesn’t tell the whole story. For instance, Lake Charles was up 8.5% and trouble-plagued Baton Rouge was 10.5% down. In the former market, Golden Nugget vaulted 21%, to … Continue reading
Pennsylvania casino draws no bids; Louisiana: Raise the levies!
What if they gave a casino and nobody came? That’s literally what took place in Pennsylvania where the fifth mini-casino license received no bids. Nada. Nix. Bupkes. From this point forward, Valley Forge Casino and Lady Luck Nemacolin will be … Continue reading
Posted in Boyd Gaming, Churchill Downs, DFS, Greenwood Racing, Internet gambling, Iowa, Louisiana, Neil Bluhm, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Problem gambling, Racinos, Sheldon Adelson, Taxes, Tribal
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Indiana suffers, Ohio not so much; Station’s surprise
While its $170 million gross looked a lot better than Illinois‘ $104 million, Indiana saw its gamblers stay home in droves — 24% less foot traffic, although those who showed up seemed to have spent 21%. In any event, gambling … Continue reading
Posted in Boyd Gaming, Churchill Downs, Economy, Eldorado Resorts, George Maloof, GLPI, Hard Rock International, Harrah's, Illinois, Indiana, Kentucky, Marketing, Ohio, Palms, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Reno, Sports, Station Casinos, The Strip, Tribal
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