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Category Archives: Penn National
Illinois: Visit more, spend less; Harrah’s breaks losing streak
Although recent investor presentations by the major casino and game-making companies would leave one feeling pretty sanguine about the economy, “pallid” is the word for the industry’s performance in Illinois last month. Attendance at casinos rose 21% but spending was … Continue reading
Posted in Ameristar, Boyd Gaming, Economy, Harrah's, Illinois, Iowa, Isle of Capri, Macau, MGM Mirage, Neil Bluhm, Penn National, Sheldon Adelson, Steve Wynn, Taxes, The Strip, Wall Street
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Worst operator of 2011; GSA’s wrong amount of wrong
Worst of the year? That’d be Grand Station Casino, a former Harrah’s riverboat in Vicksburg, and its owners, Delta Development & Investments. They managed to parlay a $3.25 million steal of a casino that could have gone for $35 million … Continue reading
Like I said …
That MGM Resorts International casino project in Massachusetts looked like a long shot to me — and so it was. After a high-profile launch, complete with a personal appearance by CEO Jim Murren, a dedicated Web site and a promised … Continue reading
Investor Week: The slot makers speak; More Ohio expansion
Themes! Themes! Themes! That was the promise made by WMS Industries, which plans to introduce no fewer than 55 of them between now and year’s end. I’d thought we were past the era in which slot manufacturers indiscriminately licensed every … Continue reading
Posted in Atlantic City, Bally Technologies, Cordish Co., Current, Economy, Election, Entertainment, Harrah's, IGT, Illinois, International, Internet gambling, Macau, Maryland, Ohio, Penn National, Racinos, Regulation, Sheldon Adelson, Shuffle Master, Slot routes, Technology, Wall Street, WMS Industries
1 Comment
Putting the cart before the racino; Men of eXit
VLTs in Ohio are still being litigated but MTR Gaming is rushing in where major operators fear to tread. It’s already begun conversion of Scioto Downs Casino & Racetrack to a 2,100-machine racino. The nomenclature is a bit premature but … Continue reading
Posted in Atlantic City, Boyd Gaming, Current, Downtown, Entertainment, Harrah's, Hooters, Isle of Capri, Ohio, Penn National, Racinos, Regulation, Tamares Group, Tropicana Entertainment
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Adelson minions visit Encore: Big Gaming courts Wall Street
There will be Ice Capades in Hell before Sheldon Adelson sets foot in Encore, I should expect. However, with J.P. Morgan holding an investor conference at Wynncore, it would be poor form of Las Vegas Sands — currently the darling … Continue reading
Posted in Ameristar, Atlantic City, Boyd Gaming, Cordish Co., Current, Detroit, Economy, Harrah's, International, Internet gambling, Kansas, Louisiana, M Resort, Macau, Marketing, Maryland, Massachusetts, MGM Mirage, Mississippi, Missouri, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Regulation, Sheldon Adelson, Singapore, Station Casinos, Steve Wynn, The Strip, Tourism, Wall Street, West Virginia
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No cannibalization in K.C.!; Nebraska: Phhhhhttt!
February numbers are in for Hollywood Casino at Kansas Speedway and it lifted the entire K.C. market 24%, grossing $15 million in 26 days. Once the Hollywood effect is sifted out of monthly revenues, all other casinos were down only … Continue reading
Posted in Ameristar, Current, Harrah's, Horseracing, Isle of Capri, Kansas, Missouri, Nebraska, New York, Ohio, Penn National, Pennsylvania, Politics, Racinos, Regulation, Wall Street
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Penn and Pennsylvania; Trop’s big screwup; Louisiana’s big month
A racetrack isn’t something you just pick up and relocate. However, Penn National Gaming has been given the go-ahead by the State of Ohio to “move” its Beulah Park and Raceway Park to, respectively, Youngstown and Dayton. They are presently … Continue reading
R.I.P., Dennis Gomes; Casino avalanche in Michigan; Life after UIGEA
There are few real characters in the casino industry anymore. Dennis Gomes (1944-2012) was one of them. His recent death put a premature “full stop” on one of the most colorful and wide-ranging careers gaming has seen. After all, how … Continue reading
Posted in Atlantic City, Colony Capital, Dennis Gomes, Detroit, Donald Trump, Economy, Election, Harrah's, history, Illinois, International, Internet gambling, Marketing, MGM Mirage, Movies, Ohio, Penn National, Pokergeddon, Politics, Problem gambling, Regulation, The Mob, The Strip, Tribal
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Wynn vs. Okada: Shooting the messenger; Ship of fools
Stung by accusations from Wynn Resorts that erstwhile Shareholder #1 Kazuo Okada had been greasing palms at PAGCOR, prompt action was taken by the Philippines House Committee on Games & Amusements. It promptly banned … Steve Wynn. This comical, “circle … Continue reading
Gaughan expands empire … and sundry other Case Bets
Having already taken charge of the hotel operations of the JW Marriott Las Vegas Resort & Spa (for historical purposes, best known as The Resort at Summerlin) last summer, Michael Gaughan Jr. will now extend his operational control to its … Continue reading
Posted in Current, Dining, Entertainment, Georgia, Harrah's, International, Macau, MGM Mirage, Michael Gaughan, Ohio, Penn National, Racinos, Regulation, Sheldon Adelson, Singapore, Steve Wynn, Tourism
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Bluhm, Boyd win in Illinois, everyone else loses
Well, not quite but the headline pretty much gives you January’s narrative in a nutshell. After backing out the contribution made by Neil Bluhm‘s new, category-killing Rivers Casino in Des Plaines, gambling revenue from the Land of Lincoln was a … Continue reading
And then there were three; What’s next in Florida?; New problem for Illinois
While the rest of America was betting on a little thing we call the Super Bowl … Unless it can find somebody to relieve it of a fourth and final gaming license, in southeastern Kansas, the Sunflower State’s casino-expansion program … Continue reading
Posted in Election, Genting, Illinois, Kansas, Massachusetts, Penn National, Politics, Racinos, Sheldon Adelson, Sports, Taxes, Tribal
2 Comments
Caesars IPO: It’s baaaaaack! Adelson: I’ll take Taiwan
In a pathetically underwhelming announcement, Caesars Entertainment is planning to float an IPO of 1.8 million shares, priced to move at a modest $8-$10 per share. Which means, best-case scenario, that CEO Gary Loveman will raise $18 million, tops, from … Continue reading
Posted in Boyd Gaming, Current, G2E, Harrah's, International, Macau, Maryland, Massachusetts, Ohio, Penn National, Regulation, Sheldon Adelson, The Strip, Wall Street
3 Comments
Dear Floridians …; Mission unfinished; Blue skies
Sarah Palin says, “vote for Newt, annoy a liberal, vote Newt.” I say, “Vote Newt, please, because the concurrent stream of Sheldon Adelson stories is a blogger’s dream come true. Keep that gravy train going!” (Besides, it’s had the side … Continue reading
The clueless Adelson; A happy birthday; Big Brother Penn
Yes, it’s yet another exciting episode of The New(t) Adventures of Sheldon Adelson. When, in typically unsubtle (read: crass) fashion, the casino potentate began pouring kegs full of money into the current presidential race, it was bound to set off … Continue reading
Posted in Columbia Sussex, Current, Election, Environment, Harrah's, M Resort, Macau, Missouri, Ohio, Penn National, Sheldon Adelson, Steve Wynn
3 Comments
Gilbert’s Dixie deal; Linq begins; Musical chairs at Penn
Dan Gilbert‘s descent upon the Baltimore market, in tandem with Caesars Entertainment, isn’t exactly news but the revelation that it will operate under the Harrah’s imprimatur (relegated to tertiary status by Caesars CEO Gary Loveman) certainly is. Gilbert’s undergraduate career … Continue reading
Posted in Current, Genting, Harrah's, M Resort, Maryland, Neil Bluhm, New York, Penn National, Pennsylvania, Racinos, Regulation, Sheldon Adelson, South Carolina, The Strip, Tourism, Tribal
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Illinois: They shoot horses, don’t they?; Friday film festival
Score another round for Illinois Gov. Pat Quinn (D): By threatening a drawn-out negotiation process that would put casino expansion hard up against election season — with lawmakers facing the terra incognita of redrawn districts — he may have forced … Continue reading
Posted in Economy, Election, Environment, Harrah's, Horseracing, Illinois, Internet gambling, Missouri, Ohio, Penn National, Politics, Racinos, Regulation, Rhode Island, Taxes, Tribal
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Another domino wobbles; Western, R.I.P.; Fighting over pocket change?
Add South Carolina to the list of states that could be suddenly taking a more favorable view of casino gambling. What the United Keetowa Band of Cherokee Indians is pitching have to be compacted with Gov. Nikki Haley (R, right). … Continue reading
Posted in Atlantic City, California, Downtown, history, Internet gambling, Iowa, Kansas, Missouri, Ohio, Penn National, Politics, Regulation, South Carolina, Tamares Group, Tribal
2 Comments