Category Archives: Penn National

Pot comes to casinos, sorta; Terrible February in Illinois

Posted on March 7, 2018 by David McKee

In a deft bit of regulatory jujitsu, the Nevada Gaming Association has ruled that casinos can hold marijuana-related conferences, provided that they refrain from doing business with the marijuana industry (a somewhat vague directive, admittedly) nor directly involve themselves in … Continue reading →

Posted in Boyd Gaming, California, Environment, Hard Rock International, Illinois, Marijuana, Marketing, MGM Mirage, Nevada, Ohio, Penn National, Regulation | Comments Off

Slots rule in Maryland, retreat in Pennsylvania

Posted on March 6, 2018 by David McKee

MGM National Harbor continued its domination of Maryland last month, with a 39% market share and $53 million gross. Less reassuring for MGM execs, high-tax slots are starting to pull away from low-tax table games, two categories which used to … Continue reading →

Posted in Churchill Downs, Cordish Co., Economy, Genting, Golden Gaming, Harrah's, Maryland, MGM Mirage, Neil Bluhm, New York, Penn National, Pennsylvania, Racinos, Wall Street, West Virginia | Comments Off

Penn out of Jamul; Fuzzy math on the Strip

Posted on March 2, 2018 by David McKee

Casino companies rarely admit defeat but Penn National Gaming is bagging it where Hollywood Casino Jamul, near San Diego, is concerned. Hollywood Jamul’s debut was disastrous and Penn’s “essentially exiting” its management contract (as Deutsche Bank analyst Carlo Santarelli put … Continue reading →

Posted in California, Economy, Genting, New York, Penn National, Pennsylvania, Sheldon Adelson, The Strip, Tourism, Tribal, Wall Street | Comments Off

MGM to jack up resort fees; Boyd braces for Four Winds impact

Posted on February 21, 2018 by David McKee

Looking for a bargain in casino stocks? JP Morgan analyst Joseph Greff nominates MGM Resorts International, which he says “remains cheap.” He bases this, in part, on strong Las Vegas Strip performance driven by “two jewels” Bellagio and MGM Grand. … Continue reading →

Posted in Ameristar, Boyd Gaming, California, Cannery Casino Resorts, Hawaii, Indiana, Louisiana, Macau, Massachusetts, MGM Mirage, Missouri, North Las Vegas, Penn National, Resort fees, The Strip, Tribal, Wall Street | Comments Off

Sands Parisian a hit; The price is right for DFS in Massachusetts

Posted on February 19, 2018 by David McKee

We never thought of Sheldon Adelson as a big online guy but the Las Vegas Sands CEO felt it imperative to let the Hong Kong Stock Exchange know that Parisian Macao had racked up over five billion social-media impressions to date. … Continue reading →

Posted in DFS, Economy, Internet gambling, Macau, Massachusetts, Penn National, Politics, Sheldon Adelson, Texas, Tribal | Comments Off

Cold January in Atlantic City, Pennsylvania; Bull runs rampant in Vegas

Posted on February 15, 2018 by David McKee

Just when everything seemed settled into a comfortable groove in Atlantic City, January revenues fell off the table, down 12.5%. The silver lining, if it qualifies as that, was that online revenues ($22 million) climbed 17%. Golden Nugget, with 33% … Continue reading →

Posted in Animals, Atlantic City, Boyd Gaming, Culinary Union, Current, Dan Gilbert, Detroit, Economy, Eldorado Resorts, Greenwood Racing, Harrah's, Internet gambling, Isle of Capri, MGM Mirage, Mohegan Sun, Neil Bluhm, North Las Vegas, Penn National, Pennsylvania, Pinnacle Entertainment, Sheldon Adelson, Station Casinos, Tilman Fertitta, Tropicana Entertainment | 1 Comment

Mohegan Sun strikes again; Magic 8s in Pennsylvania

Posted on February 12, 2018 by David McKee

Even as Steve Wynn was on his way out at Wynn Resorts, the casino he bested for the Boston-area gaming concession, Mohegan Sun, was launching a legal counterattack. It demanded that Wynn Resorts’ license be pulled and the project awarded to Mohegan … Continue reading →

Posted in Animals, Cordish Co., Greenwood Racing, International, Macau, Massachusetts, Mohegan Sun, Ohio, Penn National, Pennsylvania, Sexual misconduct, Sheldon Adelson, Steve Wynn | Comments Off

GLPI picks at Wynn; Indiana players stay home

Posted on February 9, 2018 by David McKee

Gaming & Leisure Properties met with Wall Street analysts this week and it had the future of Wynncore on its mind. “While GLPI remains open to doing Las Vegas asset transactions, they view the risk profile as considerably higher given … Continue reading →

Posted in Ameristar, Boyd Gaming, Centaur Gaming, Charity, Economy, Eldorado Resorts, Full House Resorts, GLPI, Harrah's, Indiana, Majestic Star, Mandalay Bay Massacre, Massachusetts, MGM Mirage, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, The Strip, Tribal, Tropicana Entertainment, Wall Street, Wynn Resorts | Comments Off

Life after Wynn

Posted on February 8, 2018 by David McKee

There may not be much, according to a feature in the New York Times. Wall Street analysts are already circling Wynn Resorts like buzzards. “Elvis has left the building. Mr. Wynn’s value to the company is unarguably profound as its chief visionary … Continue reading →

Posted in Boyd Gaming, Dan Gilbert, Eldorado Resorts, Hard Rock International, Macau, Massachusetts, Ohio, Penn National, Pinnacle Entertainment, Racinos, Regulation, Sexual misconduct, Sheldon Adelson, Steve Wynn, Wall Street | 1 Comment

Caesars seeks to transform New Orleans skyline

Posted on February 7, 2018 by David McKee

Harrah’s New Orleans was built on the presumption that it would have neither hotel rooms nor restaurant, thereby not sapping the businesses around it. Through some clever — one might even say Machievallian — maneuvers by then-CEO Phil Satre, both … Continue reading →

Posted in Election, Harrah's, history, Isle of Capri, Louisiana, Penn National, Pinnacle Entertainment, Politics, Tribal | Comments Off

Illinois anemic; MGM flexes pecs in Maryland, Washington, D.C.

Posted on February 6, 2018 by David McKee

Thank God. There is nothing new about Steve Wynn in this morning’s headlines, so we can talk about some good, old-fashioned gambling. Illinois last month saw a 5.5% drop-off for a somewhat anemic gross of $105 million. Foot traffic was … Continue reading →

Posted in Atlantic City, Boyd Gaming, Cordish Co., Donald Trump, Economy, Foxwoods, GLPI, Golden Gaming, Harrah's, Illinois, Marketing, Maryland, MGM Mirage, Mohegan Sun, Neil Bluhm, Penn National, Pennsylvania, Politics, West Virginia | Comments Off

Adelson: Big is more; MGM misses important deadline

Posted on January 26, 2018 by David McKee

Wall Street analysts expected Las Vegas Sands to post cash flow of $718 million last quarter but it blew through the ‘stop’ sign and checked in with $731 million. Even though recovering from three cracked ribs, CEO Sheldon Adelson had … Continue reading →

Posted in Ameristar, Architecture, Cordish Co., Galaxy Entertainment, GLPI, Greenwood Racing, Illinois, Internet gambling, Law enforcement, Macau, Massachusetts, MGM Mirage, Missouri, Penn National, Pennsylvania, Politics, Problem gambling, Regulation, Sheldon Adelson, Steve Wynn, Taxes, Tropicana Entertainment | 1 Comment

The Macao mystery; Regional roundup

Posted on January 25, 2018 by David McKee

Steve Wynn was exuding confidence this week that Wynn Macau and Wynn Palace wouldn’t be nationalized by Macao, telling investors, “We are so stitched into that community, with our employees and our company, that we feel comfortable in this situation.” On … Continue reading →

Posted in Entertainment, Harrah's, Macau, Massachusetts, MGM Mirage, Mississippi, Penn National, Regulation, Sports, The Strip, Tribal | Comments Off

Casino envy in Pennsylvania; Gilbert Jacks off

Posted on January 16, 2018 by David McKee

Why do all the bridges in Lehigh County have a “100” rating? Because of the tax money pouring in from Sands Bethlehem. That’s causing some serious envy in Mercer County, which wants a mini-casino. “It’s almost an unfair advantage,” sputters Mercer County … Continue reading →

Posted in Architecture, Dan Gilbert, Harrah's, Marketing, Ohio, Penn National, Pennsylvania, Sheldon Adelson, Stanley Ho, Taxes, Tourism | Comments Off

Carnage in Pennsylvania; Fortune Cup takes on Sigma Derby

Posted on January 15, 2018 by David McKee

*Slot revenues at Pennsylvania casinos are in and if JP Morgan‘s numbers are correct they were terrible. According to Morgan analysts slot winnings dove 27%, bottoming out at $187.5 million. Worst off was Sands Bethlehem ($25 million), sinking 44%, followed … Continue reading →

Posted in Boyd Gaming, Dan Gilbert, Delaware, Detroit, Eldorado Resorts, GLPI, Greenwood Racing, Harrah's, Internet gambling, Massachusetts, MGM Mirage, Minnesota, Neil Bluhm, Nevada, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Sheldon Adelson, Sports, Station Casinos, Taxes, Technology, Tourism, Tribal, Wall Street, West Virginia | Comments Off

Hypocrisy, thy name is Penn; Gilbert doesn’t know Jack

Posted on January 12, 2018 by David McKee

Despite making a bunch of hifalutin’ noises about the unconstitutionality of mini-casinos in Pennsylvania, who else but Penn National Gaming won the first license. It did so by virtue of insane overkill, bidding $50 million and change for a license … Continue reading →

Posted in Dan Gilbert, Detroit, Harrah's, Law enforcement, Marketing, Maryland, Movies, Ohio, Penn National, Pennsylvania, Sheldon Adelson, The Strip | Comments Off

He came to rob New York; MGM Cotai delays opening

Posted on January 11, 2018 by David McKee

Security at MGM Resorts International properties just got another black eye. In a dead-of-night robbery, an armed man — complete with clichéd stocking cap — stuck up the casino cage, then had the brass to escape via taxicab. (Imagine it: … Continue reading →

Posted in Law enforcement, Macau, MGM Mirage, Penn National, Pennsylvania, Sheldon Adelson, Technology, The Strip | 1 Comment

State of the Strip; Air Area 51

Posted on January 10, 2018 by David McKee

Deutsche Bank analyst Carlo Santarelli met with a number of casino companies recently and came away with a sanguine prospect for the Las Vegas Strip. As for the operators, “Overall, we felt commentary pertaining to the LV locals market, regional … Continue reading →

Posted in Affinity Gaming, Ameristar, Atlantic City, Boyd Gaming, Culinary Union, Economy, Eldorado Resorts, Entertainment, Harrah's, Indiana, International, Isle of Capri, Kentucky, Macau, MGM Mirage, Missouri, Penn National, Pennsylvania, Pinnacle Entertainment, Reno, Sports, The Strip, Tropicana Entertainment, Wall Street | Comments Off

Beauregard the Buzzkill; Arkansas tries for casinos

Posted on January 9, 2018 by David McKee

Attorney General Jefferson Beauregard Sessions has detected that Americans are enjoying themselves and it’s got to stop, forthwith. He’s declared war on marijuana-friendly laws across this great land, misguidedly making loco weed his department’s top law-enforcement priority. Beauregard is flying … Continue reading →

Posted in Arkansas, Boyd Gaming, Colorado, Dan Gilbert, Eldorado Resorts, Election, Hard Rock International, Law enforcement, Macau, Marijuana, Melco Resorts & Entertainment, Nevada, Ohio, Penn National, Pinnacle Entertainment, Problem gambling, Regulation, Sociedade de Jogos de Macau, Sports, The Strip, Tribal | Comments Off

Revel sold (again); Freeman slams Indiana bill

Posted on January 9, 2018 by David McKee

Glenn Straub wins our Liar Liar Pants on Fire Award hors concours for dissembling about any intentions to sell Revel while negotiating a deal to do precisely that. Give him credit, though, for raising the defunct megaresort’s value: The $200 … Continue reading →

Posted in Ameristar, Atlantic City, Boyd Gaming, Economy, Geoff Freeman, Glenn Straub, Hard Rock International, Indiana, Iowa, Mandalay Bay Massacre, MGM Mirage, Penn National, Pinnacle Entertainment, Politics, Revel, Sports, The Strip, Wall Street | 3 Comments