Category Archives: Penn National

Big month in Maryland; Kentucky Derby sets record

Posted on May 9, 2017 by David McKee

MGM National Harbor took the top spot in Maryland last month, grossing $50 million to Maryland Live‘s $45 million. “We view this as positive/encouraging for MGM, as it shows the property’s momentum has sustained into April,” wrote JP Morgan analyst … Continue reading →

Posted in Boyd Gaming, Churchill Downs, Cordish Co., Galaxy Entertainment, GLPI, Golden Gaming, Harrah's, Horseracing, Illinois, Japan, Maryland, MGM Mirage, Neil Bluhm, Penn National, Technology, The Strip, Wall Street, West Virginia | Comments Off

No casino is an Isle-and; Florida fails again

Posted on May 4, 2017 by David McKee

Eldorado Resorts took another big step toward gaming’s major leagues with its acquisition of Isle of Capri Casinos, a deal that closed earlier this week. The purchase gives Eldorado 12 more casinos, including a presence in the important Lake Charles … Continue reading →

Posted in Dan Gilbert, Eldorado Resorts, Florida, GLPI, Hard Rock International, history, Internet gambling, Isle of Capri, Japan, Louisiana, Ohio, Penn National, Pennsylvania, Politics, Reno, Seminole Tribe, Technology | Comments Off

Wall Street hearts Boyd; Disunity in Pennsylvania

Posted on May 3, 2017 by David McKee

Boyd Gaming, the red-headed stepchild of the casino industry, got some love from Wall Street yesterday. JP Morgan analyst Joseph Greff wrote that “the improving free cash flow in the BYD story is not reflected in the current stock price, … Continue reading →

Posted in Boulder Strip, Boyd Gaming, Cannery Casino Resorts, Greenwood Racing, Louisiana, North Las Vegas, Penn National, Pennsylvania, Pinnacle Entertainment, Slot routes, Wall Street | Comments Off

Quote of the Day

Posted on May 1, 2017 by David McKee

“We are trying to knock down some sort of silly notion that you could have tax parity between iGaming and the slot machines and that it could be a successful industry and we’re trying to convince them that if they … Continue reading →

Posted in Internet gambling, Penn National, Pennsylvania, Taxes | Comments Off

REITs meet the Street; Martinez wins in New Mexico

Posted on April 28, 2017 by David McKee

REITs Gaming & Leisure Properties and MGM Growth Properties both checked in with Wall Street yesterday, and further acquisitions were on the mind of both. In the case of MGM, its next target of opportunity is MGM National Harbor (“on … Continue reading →

Posted in Donald Trump, Economy, GLPI, Harrah's, MGM Mirage, Mississippi, Ohio, Penn National, Pennsylvania, Sheldon Adelson, Sports, The Strip, Tribal, Wall Street | Comments Off

Conservatives diss Adelson; Penn loses court battle

Posted on April 21, 2017 by David McKee

If Attorney General Jeff Sessions goes ahead with a ban on Internet gambling, he could be in for a world of hurt. Never mind the states with online casinos. He’d be messing with the states that have online lotteries, a … Continue reading →

Posted in Charity, Donald Trump, Florida, Genting, Internet gambling, Iowa, Penn National, Pennsylvania, Politics, Regulation, Sheldon Adelson, Taxes | 1 Comment

Prospects and pitfalls in Connecticut; Roulette makes a comeback

Posted on April 18, 2017 by David McKee

Could the East Windsor satellite casino be a Machiavellian plot to extract the Mashantucket Pequots and the Mohegan Tribe from their obligations to the State of Connecticut? Probably not but state Attorney General George Jepsen has already opined that the … Continue reading →

Posted in Entertainment, Foxwoods, Massachusetts, MGM Mirage, Mohegan Sun, Penn National, Politics, Sheldon Adelson | 1 Comment

Saturation in Ohio; Japan: Go big or go home

Posted on April 17, 2017 by David McKee

Ohio Gov. John Kasich (R) leveled the playing field when he allowed third-party racinos to join the juiced-in Penn National Gaming and Caesars Entertainment casinos in the Buckeye State. The question now is how level a playing field is a … Continue reading →

Posted in Detroit, Economy, Genting, GLPI, Hard Rock International, Harrah's, International, Internet gambling, Iowa, Japan, New York, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Technology, Wall Street | Comments Off

Warm spring in the Midwest; Vegas Vic gets political

Posted on April 10, 2017 by David McKee

Don’t believe anyone who says the economy is bad: Casino takings are up all across the Midwest. The biggest gain was in Ohio, where casino win rose 7%, even though players continue to blow off Jack Cleveland ($18 million, -8%). … Continue reading →

Posted in Affinity Gaming, Ameristar, Animals, Archon Corp., Boyd Gaming, California, Dan Gilbert, Downtown, Eldorado Resorts, Full House Resorts, Harrah's, Indiana, Isle of Capri, Law enforcement, Majestic Star, Missouri, Ohio, Penn National, Pinnacle Entertainment, PokerStars, Politics, Racinos, Tropicana Entertainment, Wayne F. Newton | Comments Off

Exit Trump, enter Hard Rock; Casinos in Cuba again?

Posted on April 10, 2017 by David McKee

Hard Rock International is putting its money where its mouth is, judging from the preview it gave of the Hard Rocked Trump Taj Mahal. The most obvious changes will be on the exterior, where all the tiki-tacky Trump theming will … Continue reading →

Posted in Architecture, Atlantic City, Columbia Sussex, Donald Trump, Economy, Entertainment, Foxwoods, Hard Rock International, International, MGM Mirage, Mohegan Sun, Penn National, Politics, Sports, Taxes, The Strip, Tourism, Trump Entertainment Resorts | 1 Comment

Temporary relief for Illinois; CityCenter for sale?

Posted on April 7, 2017 by David McKee

As a huge gambling expansion works its way through the Legislature, casino owners in Illinois must feel like condemned men awaiting the execution. At any rate, it behooves them to gather roses while yet they may. Fortunately, gamblers felt like … Continue reading →

Posted in Boyd Gaming, California, CityCenter, GLPI, Harrah's, Illinois, Macau, MGM Mirage, Mississippi, Neil Bluhm, Penn National, Regulation, South Korea, Sports, Taxes, The Crown 18, Wall Street | 1 Comment

Hard Rock to spend big in Atlantic City; Bad news for slot makers

Posted on April 6, 2017 by David McKee

In the biggest vote of confidence Atlantic City has received in a decade, Hard Rock International has announced that it intends to invest $375 million in the former Trump Taj Mahal. On top of the 1,000 projected construction jobs, Hard … Continue reading →

Posted in Atlantic City, Cordish Co., Economy, Golden Gaming, Hard Rock International, Harrah's, International, Lawrence Ho, Marketing, Maryland, MGM Mirage, New York, Penn National, Pinnacle Entertainment, Station Casinos, Technology, Tribal | 2 Comments

Shawn The Sham; Cal-Neva in limbo

Posted on March 31, 2017 by David McKee

“They got the signatures to put it on the ballot and they are going to be spending millions of dollars on advertising, probably six weeks prior to this Election Day in November, to convince people to vote for it. It … Continue reading →

Posted in Galaxy Entertainment, Harrah's, Horseracing, International, Japan, Maine, Nevada, North Dakota, Penn National, Politics, Regulation, South Korea, Technology | Comments Off

Penn gets bigger; Cool February in Nevada

Posted on March 28, 2017 by David McKee

Not many casino companies would double down on the Tunica market, let alone triple down. However, Penn National Gaming has an appetite for risk plus a track record of taking distressed properties and turning them around. So, in addition to … Continue reading →

Posted in Boulder Strip, Colony Capital, Downtown, Harrah's, Lake Tahoe, Laughlin, Maryland, Mesquite, Mississippi, Nevada, Ohio, Penn National, Reno, The Strip, Wall Street | Comments Off

Legal trouble for Mohegan, Foxwoods; The gospel according to Slammy

Posted on March 15, 2017 by David McKee

It looks as though the constitutionality of a no-bid, off-reservation casino for Mohegan Sun and Foxwoods Resort Casino may be an issue after all. Connecticut Attorney General George Jepsen issued an opinion that the legal risks with the unusual deal “are not … Continue reading →

Posted in California, Downtown, Economy, Foxwoods, Massachusetts, MGM Mirage, Mohegan Sun, Penn National, Pennsylvania, Sports, The Strip | Comments Off

Adelson ban bombs with conservatives

Posted on March 13, 2017 by David McKee

If Sheldon Adelson was hoping to be hailed at the recent Conservative Political Action Conference, he got a rude surprise. Attendees blew a raspberry to his pet cause, Protect America’s Wire Act. One dissident, Institute for Liberty President Andrew Langer … Continue reading →

Posted in Internet gambling, Japan, Law enforcement, Massachusetts, Mohegan Sun, New York, Penn National, Politics, Sheldon Adelson, Singapore, Steve Wynn, Wall Street | Comments Off

MGM National Harbor, Maryland Live duke it out

Posted on March 8, 2017 by David McKee

MGM National Harbor strapped a jet pack on Maryland gaming revenue, up an eye-popping 38% last month. The bad news for other operators is that, once you subtract MGM, gaming revenues are down 11%. However, the fact that the declivity … Continue reading →

Posted in Boyd Gaming, Cordish Co., GLPI, Harrah's, Illinois, Maryland, MGM Mirage, Neil Bluhm, Penn National, Pennsylvania, Sheldon Adelson, Sports, The Strip, Wall Street, West Virginia | 1 Comment

AGA backs Obamacare; “Messy” quarter for Station

Posted on March 8, 2017 by David McKee

OK, the headline is an oversimplification (as headlines tend to be) but the American Gaming Association found itself in disagreement with congressional Republicans after their overhaul of the Affordable Care Act was found to leave mental-health and substance-use-disorder services out in the … Continue reading →

Posted in Dan Gilbert, Economy, Eldorado Resorts, Geoff Freeman, GLPI, Hard Rock International, Lucky Dragon, Marketing, Ohio, Palms, Penn National, Pinnacle Entertainment, Politics, Problem gambling, Reno, Station Casinos, Wall Street | Comments Off

More resort fees at MGM; Sands Bethlehem sold?

Posted on March 3, 2017 by David McKee

It was show time for the big boys at the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum, starting with MGM Resorts International, which had to get started by explaining why fourth-quarter numbers had been “coming in well below … Continue reading →

Posted in Architecture, Atlantic City, California, Donald Trump, Economy, Hard Rock International, Harrah's, Harry Reid, Japan, Macau, Maryland, Massachusetts, MGM Mirage, Penn National, Pennsylvania, Pinnacle Entertainment, Seminole Tribe, Sheldon Adelson, Singapore, Sports, Steve Wynn, The Strip, Tourism, Transportation, Tribal, Tropicana Entertainment, Wall Street | 1 Comment

Business as usual at Boyd; Pinnacle looks to expand

Posted on March 3, 2017 by David McKee

* Top brass at Boyd Gaming met with J.P. Morgan analyst Joseph Greff and reported a relatively unruffled start to 2017, although the delayed mailing of income-tax refunds (about three weeks later than usual) was retarding results a bit. Still, … Continue reading →

Posted in Boyd Gaming, California, Cannery Casino Resorts, Colorado, Current, Economy, Louisiana, Marketing, MGM Mirage, North Las Vegas, Penn National, Pinnacle Entertainment, The Strip, Tilman Fertitta, Tribal, Wall Street, West Virginia | 1 Comment