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Category Archives: Penn National
The case for cannibalization; Hard Rock buys Taj
There’s still a big budget shortfall in Pennsylvania and state Rep. Mike Sturla thinks he has at least part of the answer: slot routes. Casinos can be expected to decry this proposed solution and some already are. But for Sturla … Continue reading
Posted in Atlantic City, Carl Icahn, Economy, Foxwoods, Geoff Freeman, Golden Gaming, Hard Rock International, Harry Reid, Illinois, MGM Mirage, Mohegan Sun, Penn National, Pennsylvania, Politics, Revel, Slot routes, Sports, The Strip, Tribal, Tropicana Entertainment, West Virginia
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Wayne Newton, Mr. Convention; Adelson covets Vietnam
If you doubted that the convention business is the new face of Las Vegas, it trotted out the pretty visage of Wayne Newton. The latter’s Casa de Shenandoah is promoting itself as the new place to hold your meeting, offering to … Continue reading
Posted in Atlantic City, Economy, GLPI, Hard Rock International, Harrah's, Illinois, Japan, Lawrence Ho, Macau, Marketing, Melco Crown Entertainment, Penn National, Politics, Racinos, Regulation, Sheldon Adelson, Singapore, South Korea, Technology, Tourism, Tropicana Entertainment, Vietnam, Wayne F. Newton
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Caesars’ highway robbery; Good news for problem gamblers
What do you do when you’ve just lost $435 million? Bust out a new round of resort fees, of course! That’s Caesars Entertainment‘s answer. Keeping up with the Joneses on the Las Vegas Strip, Caesars will implement two tiers of … Continue reading
Posted in Foxwoods, Genting, Harrah's, Japan, Macau, Massachusetts, Melco Crown Entertainment, MGM Mirage, Mohegan Sun, Penn National, Pennsylvania, Politics, Problem gambling, Sheldon Adelson, Steve Wynn, The Strip, Transportation, Wall Street
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Station, Culinary at it again; Attack of the Russian slot cheats
After reaching a fragile labor peace with Station Casinos, the Culinary Union is heading for another scrum with the company, publishing a petition to “Stations Casino” [sic!], detailing various and sundry workplace complaints, such as “first aid supplies were not … Continue reading
Posted in California, Culinary Union, Georgia, International, Law enforcement, MGM Mirage, New York, Penn National, Politics, South Carolina, Station Casinos, Technology, Tribal, Tropicana Entertainment, Wall Street
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Sports betting a political football; Lucky Dragon doing just fine
Lawmakers in Maryland are entering the fray over sports betting. Unlike their counterparts in New Jersey, they’re not challenging the federal government directly. The proposed law, as drafted, would make sports betting legal in the Free State *if* the Bradley … Continue reading
Posted in Ameristar, Boyd Gaming, Cordish Co., Delaware, Dining, Donald Trump, Georgia, GLPI, Harrah's, Hawaii, Internet gambling, Isle of Capri, Lucky Dragon, Macau, Maryland, MGM Mirage, Mississippi, Missouri, Neil Bluhm, New York, Penn National, Philippines, Pinnacle Entertainment, Politics, Racinos, Singapore, Sports, Steve Wynn, The Strip, Tourism, Tropicana Entertainment, Wall Street
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Mixed results in Indiana; New Hampshire tries, tries, tries again
Casino revenue was down 4% last month in Indiana but, with one less weekend than last year and a 6% decline in foot traffic, I’m disinclined to read too much into the results. However, just for the record, let’s look … Continue reading
Posted in Ameristar, Boyd Gaming, Full House Resorts, GLPI, Harrah's, Indiana, Majestic Star, Mississippi, New Hampshire, Penn National, Pinnacle Entertainment, Politics, Racinos, Regulation, Sports, Tropicana Entertainment, TV
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MGM National Harbor a hit with players; Fertitta talks a good game
Given its high profile, MGM National Harbor had to hit a home run for MGM Resorts International and, judging by the numbers, it’s done just that. Last month it grossed $49 million, which — when the numbers are adjusted to … Continue reading
Posted in Boyd Gaming, Cordish Co., Downtown, GLPI, Golden Gaming, Goldman Sachs, Harrah's, Illinois, Louisiana, Maryland, MGM Mirage, Mississippi, Neil Bluhm, Nevada, New York, Penn National, Politics, Racinos, Regulation, Sheldon Adelson, Slot routes, Sports, Station Casinos, The Strip, Tilman Fertitta, Wall Street, West Virginia
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Penn National backpedals; Feral bunnies terrorize Vegas
Penn National Gaming released fourth-quarter numbers and, according to Deutsche Bank‘s Carlo Santarelli acknowledged a “difficult start” at Hollywood Jamul (this despite having an extra-long runway to get the new property aloft). Santarelli called the tribal casino a “drag” on … Continue reading
Posted in Animals, Atlantic City, California, Dining, Donald Trump, Election, Glenn Straub, GLPI, Hard Rock International, history, Illinois, Iowa, Japan, Macau, Marketing, Penn National, Regulation, Revel, Sheldon Adelson, Slot routes, Steve Wynn, Technology, The Strip, Tribal, Trump Entertainment Resorts, Wall Street, West Virginia
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Adelson out of stadium deal; Tepid December on Strip
It didn’t take long for Sandoval’s Folly, the mooted [your city here] Raiders stadium to blow up in the governor’s face. With characteristic irascibility, Las Vegas Sands CEO Sheldon Adelson withdrew from the project, taking his $650 million with him. … Continue reading
Posted in Boulder Strip, Cordish Co., Cretins, Downtown, Economy, Foxwoods, GLPI, Harrah's, Horseracing, Japan, Laughlin, Maryland, MGM Mirage, Mohegan Sun, Nevada, North Las Vegas, Penn National, Politics, Regulation, Reno, Sheldon Adelson, Sports, The Strip, Tribal, Virginia, Wall Street, West Virginia
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New Deal; Same old same-old at Wynncore
In a dramatic semi-reversal, Georgia Gov. Nathan Deal (R) has said he is open “to keep the discussion going” on casinos in the state. The governor’s sudden open mindedness comes with several caveats, including the assurance that casino gambling won’t detract … Continue reading
Posted in Architecture, Delaware, Donald Trump, Election, Georgia, Japan, Massachusetts, MGM Mirage, Penn National, Politics, Regulation, Sheldon Adelson, South Carolina, Sports, Steve Wynn, Taxes, The Strip
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Wynn Palace a work in progress; Hawaii ponders i-gaming
Wall Street analysts were pleasantly surprised by the latest results from Wynn Palace, which exceeded expectations. As JP Morgan analyst Joseph Greff wrote, the Palace “has reconfigured the main casino floor (mass market), adding new slot/poker sections and opening up … Continue reading
Posted in Delaware, Economy, Hawaii, Internet gambling, Macau, Massachusetts, Neil Bluhm, Nevada, Penn National, Pennsylvania, Regulation, Sheldon Adelson, Steve Wynn, Technology, The Strip, Wall Street
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Maryland: Playing the blame game; Island casinos confront Trump
As might be expected, MGM National Harbor‘s opening strapped a jet pack on Maryland casino revenues for December, which came in at $133.5 million, easily surpassing last May’s then-record $104 million. Wagering — as opposed to win — per slot … Continue reading
Posted in Cordish Co., Donald Trump, Economy, Harrah's, Horseracing, Illinois, International, Internet gambling, Macau, Maine, Maryland, MGM Mirage, Penn National, Racinos, Regulation, Slot routes, Taxes, Tribal
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Plainridge Park defies the odds; Gaming advocate’s conflict unearthed
States with lotteries are loath to let casinos in their borders. It’s an idea that’s D.O.A. in Nevada and Kansas protected its flank by making the casinos the property of the state lottery. However, a study by the Massachusetts Gaming … Continue reading
Posted in Economy, Florida, Geoff Freeman, Hard Rock International, Internet gambling, Kansas, Massachusetts, Neil Bluhm, Nevada, Penn National, Pennsylvania, Politics, Regulation, Seminole Tribe
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Lukewarm Christmas in Louisiana; New casino for Indiana?
Despite an extra weekend in December, Louisiana gaming revenues were only modestly up, +4%, although gambling fever sure gripped Baton Rouge, where casinos won 14% more than last year. New Orleans has fallen to a distant third ($47 million) as … Continue reading
Posted in Boyd Gaming, California, Churchill Downs, Dan Lee, Florida, Full House Resorts, GLPI, Harrah's, Indiana, Isle of Capri, Louisiana, Maryland, MGM Mirage, Penn National, Pinnacle Entertainment, Racinos, Seminole Tribe, Taxes, The Strip, Tilman Fertitta, Tribal, Tropicana Entertainment, Wall Street, West Virginia
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MGM’s big rake in Washington; Resort projects power Massachusetts
It should come as no surprise that Washington, D.C., the land of smoke-filled rooms where sleazy deals are made, should be deliver a bumper crop of players to MGM National Harbor‘s 39-table poker room. Even with a truncated month of … Continue reading
Jesus scapegoated for December results; Changing of the guard in New Jersey
Deutsche Bank analyst Carlo Santarelli put in some quality time in Las Vegas recently and came away satisfied with the market, particularly MGM Resorts International, Station Casinos, Boyd Gaming and Penn National Gaming, although he had no new intel on … Continue reading
Posted in Atlantic City, Boyd Gaming, California, Economy, Foxwoods, Georgia, Horseracing, Internet gambling, Lucky Dragon, MGM Mirage, Mohegan Sun, Penn National, Politics, Station Casinos, Tribal, Wall Street
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A slight chill in the air
Even allowing for additional weekend in 2016, gaming results last month were a tad frosty, shall we say? The best market was Missouri, which was merely flat. That was largely due to strength in the St. Louis area, where Pinnacle … Continue reading
Posted in Affinity Gaming, Ameristar, Boyd Gaming, Economy, Eldorado Resorts, Full House Resorts, GLPI, Harrah's, Indiana, Isle of Capri, Majestic Star, Missouri, Nevada, Ohio, Penn National, Pinnacle Entertainment, Racinos, Tourism, Tropicana Entertainment
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Cheerless Christmas in Illinois; Whitewash at Caesars?
Despite two extra weekend days, gaming revenues in Illinois were down 5% last month. For all we know, gamblers may have been saving up for Christmas but we think this points to the increasing prevalence of slot routes (many owned … Continue reading
Posted in Atlantic City, Boyd Gaming, Carl Icahn, Churchill Downs, GLPI, Harrah's, Horseracing, Illinois, MGM Mirage, Neil Bluhm, Penn National, Racinos, Slot routes, Sports, The Strip, Unite-Here
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National Harbor boffo for MGM; Icahn keeps them guessing
In its first month, MGM National Harbor has been both good and bad for Maryland. Although the MGM Resorts International property, acclaimed by some as being Las Vegas Strip-caliber, did blockbuster numbers, the rest of the Maryland casino industry was … Continue reading
Racinos lap casinos in Ohio; “Golden Knights” kiboshed
Ohio‘s four main casinos performed weakly last month, with Dan Gilbert‘s Jack Cleveland ($16 million, -4%) and Jack Cincinnati ($15 million, -7%) still not validating their new brand. Ironically, the once-superfluous Thistledown Racino is saving Jack’s bacon, up 13% to … Continue reading
Posted in Arizona, Atlantic City, Boyd Gaming, Cordish Co., Dan Gilbert, Economy, Eldorado Resorts, Florida, GLPI, Hard Rock International, Harrah's, Japan, Maryland, MGM Mirage, Nevada, New York, Ohio, Penn National, Politics, Racinos, Seminole Tribe, Sports, Taxes
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