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Category Archives: Pennsylvania
Macao: Worse than expected; New deal on Connecticut table
When China gets coronavirus, Macao develops pneumonia. While Wall Street was expecting gaming revenues to dip 2% in January, they fell 11%. Macanese casinos still grossed $2.75 billion, so it’s not like they were hearing crickets. However, February is shaping … Continue reading
Posted in Atlantic City, Caesars Entertainment, China, Connecticut, Derek Stevens, Downtown, Economy, Eldorado Resorts, Foxwoods, Health, IGT, Illinois, Japan, Las Vegas Sands, Louisiana, Macau, MGM Resorts International, Mohegan Sun, New Jersey, Pennsylvania, Politics, Regulation, Sheldon Adelson, Sports betting, Tourism, West Virginia
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Las Vegas Sands braces for impact; Big Rob’s big scam
Las Vegas Sands missed Wall Street expectations in Macao, made up for that in Singapore (partly on the strength of runaway Chinese high rollers) and “was solidly in line” on the Las Vegas Strip, according to JP Morgan analyst Joseph … Continue reading
Posted in California, China, Health, James Packer, Las Vegas Sands, Law enforcement, Macau, MGM Resorts International, Pennsylvania, Singapore, Sports betting, The Strip, Tribal, William Hill
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XFL bets taken; Mohegan Sun, Hard Rock clash; Straub arrested
New Jersey has allowed betting on the XFL, the sixth state to do so. But does anybody care? The league hopes that sports betting will spark fan interest in the games. MGM Resorts International already got burned by the Alliance … Continue reading
Posted in Australia, Glenn Straub, Hard Rock International, International, James Packer, Law enforcement, Lawrence Ho, Lotteries, Melco Crown Entertainment, MGM Resorts International, Mohegan Sun, Money laundering, New Jersey, Pennsylvania, Sports, Sports betting
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Eldorado gets one state closer; Banditry in Arizona
Check Louisiana off the list of states giving the thumbs-up to the Eldorado Resorts takeover of Caesars Entertainment. CEO Tom Reeg had to assure regulators that the company would invest $500 million (there goes that highly touted half-billion cost savings) in … Continue reading
Eyes on Atlantic City; ‘Smart chips’ a health menace?
It’s barely 2020 and already The Press of Atlantic City has identified the Boardwalk’s top five stories of the year. They are: 1) The evolving Eldorado Resorts takeover of Caesars Entertainment. Early indications are that Eldorado will try to keep … Continue reading
Posted in Atlantic City, Caesars Entertainment, Carl Icahn, Connecticut, Donald Trump, Economy, Eldorado Resorts, Environment, Foxwoods, history, Indiana, Internet gambling, Macau, Marketing, Mohegan Sun, Pennsylvania, Politics, Racinos, Regulation, Spectacle Entertainment, Sports betting, Tilman Fertitta, Transportation
2 Comments
Louisiana stagnant, Michigan a sports-betting go
An extra weekend day didn’t do bupkis for Louisiana, where November gaming revenues ($205 million) were flat with last year’s. The good news is that Baton Rouge, so troubled a market, was incrementally higher than in 2018. Eldorado Resorts‘ Belle … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, China, Churchill Downs, Detroit, Economy, Eldorado Resorts, GLPI, Indiana, Internet gambling, Louisiana, Macau, Michigan, Movies, New Jersey, Penn National, Pennsylvania, Sexual misconduct, Sports betting, Taxes, Tilman Fertitta, Tribal, Wall Street
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Greed is good (Not!); Miller looks back on 2019
Most gaming CEOs are wearing hair shirts and taking vows of poverty compared to bet365 CEO Denise Coates, the new poster girl of greed. She awarded herself $422 million in compensation (no, that’s not a typo). In 2015-6 Coates scraped … Continue reading
Posted in AGA, China, Cosmopolitan, Dining, International, Macau, Massachusetts, Money laundering, Penn National, Pennsylvania, Politics, Problem gambling, Regulation, Resort fees, Sports betting, The Strip, Wynn Resorts
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Sports wagering booms in Pennsylvania; Casino crime wave in Philippines
Spurred by mobile wagering, the Pennsylvania sports-betting market exceeded $300 million in handle last month. Said PlayPennsylvania.com analyst Dustin Gouker, “Plagued with relatively high gaming taxes and early hurdles to its online launch, Pennsylvania’s future as a legal sports betting jurisdiction … Continue reading
Atlantic City up in November; Sports betting comes to Michigan
Gross gaming revenues of $224 million in Atlantic City last month represented a 7% gain. Table games (+11%) led the way, followed by slot revenues, up 6%. Table win at Borgata rose 14.5% on 7% more wagering, as the house … Continue reading
Posted in Atlantic City, Boyd Gaming, Caesars Entertainment, DFS, e-sports, Economy, Eldorado Resorts, Environment, FanDuel, Greenwood Racing, Hard Rock International, Internet gambling, MGM Resorts International, Michigan, Mohegan Sun, New Jersey, Ocean Resort, Penn National, Pennsylvania, Politics, Rush Street Gaming, Sports betting, Taxes, Tilman Fertitta, Tribal
1 Comment
Scientific fluent in Chinese; William Hill seeks new horizons
It’s not just for China anymore. Scientific Games is reporting success with its Chinese-themed slots, including in North America. Yes, games with titles like Jin Ji Bao Xi, which doesn’t exactly roll off the tongue but is gaining traction with slot players worldwide. “If … Continue reading
Posted in Cantor Gaming, China, Economy, Environment, Florida, International, Internet gambling, Japan, Macau, MGM Resorts International, Movies, Nevada, North Carolina, Pennsylvania, Philippines, Regulation, Scientific Games, Sexual misconduct, Sports, Sports betting, Technology, The Strip, Tourism, Tribal, Virginia, William Hill
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New life for Harmon Strip; Wynn Resorts vindicated, mostly
Could the Harmon Strip, mooted since the late Nineties, actually come to pass? The area has been a graveyard for resort projects, leaving the Hard Rock Hotel standing in splendid isolation. However … one Jeffrey Williams is applying for permission to … Continue reading
Next stop, Hempfield!
Cordish Gaming has broken ground on its Hempfield Township satellite casino in Pennsylvania. The $150 million property will have 750 slots and 30 table games, as well as a 445-seat sports book. The casino will fill the space left by … Continue reading
Posted in Arkansas, Atlantic City, Caesars Entertainment, Cordish Co., Dining, Downtown, Economy, Eldorado Resorts, Entertainment, Golden Gaming, history, Internet gambling, Kentucky, Las Vegas Sands, Law enforcement, Massachusetts, MGM Resorts International, Mohegan Sun, Pennsylvania, Regulation, South Korea, Sports betting, The Strip, Tribal, Wall Street, Wynn Resorts
2 Comments
Sports betting burgeons in Pennsylvania
Pennsylvania sports-betting handle was $241 million last month, which translated into $19 million in revenue (a quarter of which promptly went to the state). Mobile wagering accounted for $199 million or 82% of the wagering, up from 65% last July. “Most encouraging … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, DraftKings, Eldorado Resorts, Environment, FanDuel, Greenwood Racing, Illinois, Law enforcement, Michigan, Mississippi, Mohegan Sun, Penn National, Pennsylvania, Regulation, Rush Street Gaming, Sexual misconduct, South Dakota, Sports, Sports betting, Tribal, Twin River, Wall Street, Wynn Resorts
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Ocean outperforms Atlantic City; Encore Boston crushes competition
Atlantic City casino revenues were $202 million last month, flat with the year previous. Slot revenues were up 3.5%, table win down 6%. Despite flat wagering at the tables and slots, Borgata gained 6% at the slots and ceded 7% … Continue reading
Posted in Atlantic City, Boyd Gaming, Caesars Entertainment, Economy, Eldorado Resorts, Environment, FanDuel, Greenwood Racing, Hard Rock International, Internet gambling, Japan, Macau, Massachusetts, MGM Resorts International, Mohegan Sun, Ocean Resort, Penn National, Pennsylvania, Regulation, Rush Street Gaming, Sports betting, Tilman Fertitta, Tribal, Wynn Resorts
3 Comments
Choo-choo to Springfield; Penn hawks Trop
Don’t despair, MGM Springfield. There’s hope yet. Massachusetts politicians are touting the idea of high-speed rail between Boston and Springfield, as many as six rides per day. (Springfield currently must get by with once-a-day Amtrak service.) Gov. Charlie Baker (R) … Continue reading
Posted in China, Connecticut, Donald Trump, Downtown, Election, Foxwoods, Indiana, Louisiana, Maine, Massachusetts, MGM Resorts International, Mohegan Sun, New Hampshire, Penn National, Pennsylvania, Rhode Island, Sexual misconduct, Sheldon Adelson, Sports betting, The Strip, Transportation, TV, Twin River, Wynn Resorts
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Caution on Scientific, Golden; VIPs passé in Macao
Scientific Games must have been less than thrilled with Credit Suisse analyst Ben Combes‘ report on their third quarter. It was headlined, “Solid Quarter, But Leverage Concerns Keep Us on the Sidelines.” Cash flow of $344 million beat the Wall … Continue reading
Posted in California, Canada, China, Dining, Economy, Entertainment, Genting, Golden Gaming, Greenwood Racing, Illinois, International, Internet gambling, Las Vegas Raiders, Lotteries, Macau, MGM Resorts International, Nevada, New York, Penn National, Pennsylvania, PokerStars, Resort fees, Rush Street Gaming, Scientific Games, Sheldon Adelson, The Strip, Tribal, Wall Street, Wynn Resorts
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Cordish bully on Philly
We’ll soon find out if the Philadelphia market can sustain five casinos when Cordish Gaming‘s Live! Casino & Hotel Philadelphia opens, next door to Citizens Bank Park (baseball) and close to Lincoln Financial Field (football) and Wells Fargo Center (basketball and … Continue reading
Churchill Downs in expansive mood; Cannery security faulted
Churchill Downs‘ third-quarter cash flow of $88 million was $7 million shy of Wall Street‘s expectation. The shortfall extended across all segments of CHDN business, although increased casino competition in Maine was one of the contributing factors. In terms of … Continue reading
Posted in Baseball, Boyd Gaming, California, Churchill Downs, Kentucky, Las Vegas Sands, Macau, Maine, Mississippi, Ohio, Oklahoma, Pennsylvania, Racinos, Rush Street Gaming, Security, Sports betting, Tribal, Wall Street
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Biden lobbies Station; Important victory for Flynt, casinos
George GOP donor Frank Fertitta III is unlikely to put missives from Joe Biden at the top of his in-box. Thus it was more of a theatrical gesture than a substantive negotiation when Biden wrote to the Fertitta, in an open … Continue reading