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Category Archives: Penn National
Macao: Big brother is watching; Quandary in Indiana
Just as it looked that Macao was beginning to climb out of one government-created crisis, along comes another. According to a report in the South China Morning Post, the central government was cutting the maximum withdrawal amount from UnionPay ATMs … Continue reading
Posted in Ameristar, Boyd Gaming, Full House Resorts, GLPI, Harrah's, Indiana, Macau, Majestic Star, Penn National, Pinnacle Entertainment, Racinos, Regulation, Sheldon Adelson, Singapore, Tropicana Entertainment, Wall Street
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Pennsylvania gets a second look; Tioga Downs debuts new casino
Funny that we should have been discussing Pennsylvania yesterday. Fitch Ratings analyst Alex Bumazhny made a field trip to Philadelphia and Bethlehem, and came away impressed by the $164 million expansion of SugarHouse. He concluded that its new features, which … Continue reading
Running the tables in Pennsylvania; MGM woos Georgia (again)
Due to Pennsylvania‘s quirky habit of releasing slot and table game revenue numbers in staggered fashion, we don’t often comment on Keystone State gambling revenues. Fortunately, the Center for Gaming Research at UNLV consolidates the information into one handy-dandy report. … Continue reading
Posted in Architecture, Aristocrat, Australia, Cosmopolitan, Economy, Eldorado Resorts, Georgia, GLPI, Greenwood Racing, Harrah's, Hooters, Isle of Capri, Macau, Maryland, MGM Mirage, Mohegan Sun, Neil Bluhm, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Racinos, Sheldon Adelson, Slot routes, SLS Las Vegas, Taxes, The Strip, Tourism, Transportation
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Strip booms in October; Trouble in Tiverton
Not even a 16.5% decline in table wagers could hold back the Las Vegas Strip last month, as gaming revenues shot up 14%, to $563 million. Statewide, casinos didn’t do so badly either, up 11%. The one-armed bandits on the … Continue reading
Posted in Boulder Strip, Downtown, Economy, Foxwoods, history, Iowa, Japan, Lake Tahoe, Laughlin, Lucky Dragon, Macau, Massachusetts, Mesquite, Mohegan Sun, Nevada, North Las Vegas, Penn National, Rhode Island, Taxes, The Strip
1 Comment
All right in Atlantic City; Trump: The Asia connection
Columnist Steve Ruddock recently took a deep dive into Atlantic City and found the water to be just fine, thank you. He didn’t just mean his hotel room at Resorts Atlantic City, which he deemed cleaner and better-maintained than many … Continue reading
New stumbling block for Caesars; ‘Net betting powers New Jersey
Just when it looked like Caesars Entertainment was out of the woods in its bankruptcy reorganization the federal trustee intervened with an objection. At issue are the releases from litigation that Caesars wrested from creditors as part of the price … Continue reading
Posted in Arizona, Atlantic City, Donald Trump, Harrah's, Internet gambling, Massachusetts, Penn National, Pennsylvania, PokerStars, Regulation, Sheldon Adelson, Tribal, Tropicana Entertainment
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Wayne Newton’s peacock peril
If you live near Casa de Shenandoah, look out: The neighborhood is being terrorized by roaming peacocks who make their base of operations at the mansion/museum of Mr. Las. Vegas himself, Wayne Newton. The latter’s people are trying to have … Continue reading
Posted in Animals, Dining, Massachusetts, Penn National, The Strip, Wayne F. Newton
1 Comment
Mixed bag in Indiana; Don’t mess with Massachusetts
One less weekend day in October helped depress casino revenues in Indiana, down 3%. However, individual property results were all over the place, making generalizations perilous. For instance, Majestic Star II in Gary was down 9%, to $5 million, but … Continue reading
Posted in Ameristar, Boyd Gaming, Election, Full House Resorts, Harrah's, Indiana, Law enforcement, Lawrence Ho, Macau, Majestic Star, Marketing, Massachusetts, Melco Crown Entertainment, Penn National, Pinnacle Entertainment, Racinos, Steve Wynn, Tropicana Entertainment
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Straub makes some odd choices; Tiverton still up for grabs
Glenn Straub won one round, lost another in his quest to revive Revel as Ten. On Oct. 18, he received a certificate of occupancy, paving the way for him to reopen the property. (Last spring’s effort was a Chinese fire … Continue reading
Posted in Affinity Gaming, Ameristar, Atlantic City, Election, Glenn Straub, GLPI, Hard Rock International, Isle of Capri, Kansas, Massachusetts, Missouri, Penn National, Pinnacle Entertainment, Regulation, Revel, Rhode Island, Tropicana Entertainment, Trump Entertainment Resorts
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Jacked around in Ohio; Wrong about Trump
At this point, we don’t know jack about Dan Gilbert‘s new “Jack” casino brand. In September, it appeared to be gaining traction with players. Then the bottom fell out. Jack Cleveland‘s $15 million take was a 14% fall while Jack … Continue reading
Posted in Dan Gilbert, Donald Trump, Eldorado Resorts, Election, GLPI, Hard Rock International, Internet gambling, Marketing, Ohio, Palms, Penn National, Pinnacle Entertainment, Racinos, Reno, Sheldon Adelson, Station Casinos, Tribal, Wall Street
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LV Monorail lives; MGM shatters expectations
Whether or not you consider the Las Vegas Monorail a while elephant, its trunk is going to grow a bit longer. Clark County is diligently pursuing the permits that would enable it to extend the Monorail to Mandalay Bay, where … Continue reading
Paris goes dark; A Bennett returns
In the first major Strip power outage in 12 years — the last was at Bellagio in 2004 — players at Paris-Las Vegas saw the entire casino resort go dark before their very eyes. Not even the auxiliary power kicked … Continue reading
Posted in Columbia Sussex, Harrah's, Hooters, International, Lake Tahoe, Paragon Gaming, Penn National, Pennsylvania, Regulation, Taxes, The Strip, Tourism, Westgate LV
Comments Off on Paris goes dark; A Bennett returns
Turnaround in Macao; Trop claims another victim
There’s finally solid ground for optimism with regard to Macao, admittedly a good market to be in even at the worst of times. October gaming revenues surged 9%. Deutsche Bank analyst Carlo Santarelli took the numbers with a couple of … Continue reading
Pennsylvania lawmakers screw the pooch; Adelson’s way or the highway
Pennsylvania communities are scrambling to reach voluntary revenue-sharing accords with the casinos they host after the Legislature left the issue in limbo. Rather than address the host-community fee on its own, the House of Representatives tacked on approval of Internet … Continue reading
Posted in Architecture, Environment, GLPI, Golden Gaming, Greenwood Racing, Harrah's, Internet gambling, Maryland, Massachusetts, Penn National, Pennsylvania, Politics, Regulation, Sheldon Adelson, Slot routes, Steve Wynn, Taxes, Technology
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They messed with Texas; Strip hotels have boom month
Tribal casinos are normally pretty tight-lipped about their financial performance. Not so the Alabama Coushatta Tribe of Texas. “It’s a quaint little spot and we’re pretty proud of it,” a tribal member told Houstonia magazine, speaking of Naskila Gaming, a … Continue reading
Posted in Alabama, California, Economy, G2E, history, IGT, Marketing, Penn National, Regulation, Texas, The Strip, Tourism, Tribal, Wall Street
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Adelson in trouble again; Trop buoys Penn National numbers
Las Vegas Sands is under the regulatory magnifying glass again. It’s been alleged that the company tried to make an end run around anti-money-laundering laws by permitting Chinese whales to use front men to place bets on their behalf. Lawyers … Continue reading
Posted in California, Dining, Downtown, Entertainment, Harrah's, International, Internet gambling, Law enforcement, Marketing, Mississippi, Penn National, Pennsylvania, Regulation, Sheldon Adelson, Sports, Taxes, Technology, The Strip, Tribal, Wall Street
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Hollywood Jamul: Penn bombs in California
An S&G reader suggested that, given the sudden dropoff in traffic to Hollywood Casino Jamul, we have a look at customer reviews on Yelp. We did and, boy, has Penn National Gaming laid an egg — the more so for … Continue reading
Posted in California, Massachusetts, Ohio, Penn National, Tribal
4 Comments
Hollywood Jamul opens; Hutchinson opposes Arkansas casinos
While the eyes of the industry were focused on the closing of Trump Taj Mahal, there was another long-awaited event on Monday: the opening of Hollywood Casino Jamul, near San Diego. Combine in-progress road construction with a new casino and … Continue reading
Indiana does well, Missouri does better
Foot traffic at Indiana casinos was down last month but players wagered more freely, 4.5% up from last year, leading to an almost 2% increase in casino revenues. Penn National Gaming was right in line with overall state performance and … Continue reading
Posted in Boyd Gaming, Entertainment, Full House Resorts, Golden Gaming, Harrah's, Indiana, Isle of Capri, Majestic Star, Missouri, Penn National, Pinnacle Entertainment, Racinos, The Strip, Tropicana Entertainment
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Local is beautiful; Adelson loses partner
Motley Fool columnist Travis Hoium says investors are missing a good bet if they overlook Las Vegas locals operators to focus on the big Las Vegas Strip players. He cites Station Casinos, Boyd Gaming and Penn National Gaming (presumably for … Continue reading