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Category Archives: Pinnacle Entertainment
Penn owns Ohio; Adelson expands R-J
Gaining 19% last month, Hard Rock Rocksino reclaimed its top spot in Ohio, grossing almost $19 million and edging aside Horseshoe Casino Cleveland by one decimal point. The latter saw an 11% slippage revenues, while ThistleDown Racino continues to look like … Continue reading
Posted in Cosmopolitan, Dan Gilbert, Eldorado Resorts, Hard Rock International, Harrah's, MGM Mirage, Ohio, Penn National, Pinnacle Entertainment, Racinos, Regulation, Sheldon Adelson, Steve Wynn
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GLPI gets a racino; Reckless casino rhetoric
After over a year of litigation, Gaming & Leisure Properties has come to terms with Cannery Casino Resorts over the sale of Meadows Racetrack, near Pittsburgh. (Next step for GLPI, find an operator. Penn National Gaming? Pinnacle Entertainment?) Considering that … Continue reading
Louisiana: Robbing Peter to play Paul; New disclosures from Genting
Were it not for the Golden Nugget Lake Charles, gaming revenues would have stumbled 7.5% downward last month. Add Tilman Fertitta‘s new showplace, which grossed $20 million, and you have a 15% increase in the Lake Charles market. But, as … Continue reading
No misery in Missouri; Packer’s Vegas venture in question
November was a tranquil month for Missouri casinos, exemplified by Penn National Gaming‘s Argosy Riverside, in Kansas City, dead even with last year. Statewide, foot traffic was down 5% and spending up 6%, particularly at table games, where winnings rose … Continue reading
Indiana: Visiting less, spending more
That’s the verdict of Deutsche Bank analyst Carlo Santarelli, who reports that foot traffic at Indiana casinos was 11% down last month, implying a 7% spending increase. If free play is counted, casino revenues fell 5%, with the southern tier … Continue reading
Ohio: Caesars effects a turnaround; Heightened scrutiny for MGM Springfield
Although it’s got one foot out the door in Ohio, the management half of Rock Gaming Caesars, i.e., Caesars Entertainment, is starting to shore up the recent decline of its casinos in the Buckeye State. Horseshoe Cincinnati and Horseshoe Cleveland … Continue reading
Posted in Architecture, Dan Gilbert, Economy, Eldorado Resorts, Hard Rock International, Harrah's, Massachusetts, MGM Mirage, Mohegan Sun, Penn National, Pinnacle Entertainment, Racinos, Regulation, Rhode Island
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Tohono O’odham win again; Union tackles REIT craze
Forces opposed to the Tohono O’odham Nation‘s attempts to build a casino (due to open Dec. 20) suffered yet another defeat — the 18th, by the tribe’s count — when the Ninth Circuit Court of Appeals tossed out a particularly … Continue reading
Posted in Ameristar, Arizona, GLPI, Indiana, Mississippi, Missouri, Penn National, Pinnacle Entertainment, Regulation, Tribal
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Caesars exiting Ohio with head held high; New Showboat setback
Caesars Entertainment may have gotten the boot from its three managerial arrangements with Dan Gilbert in Ohio but it’s spending the waning weeks of its tenure putting up impressive numbers. Horseshoe Cleveland ($18 million) was up 4% and Horseshoe Cincinnati … Continue reading
Posted in Atlantic City, Dan Gilbert, Detroit, Eldorado Resorts, Glenn Straub, Harrah's, Marketing, Penn National, Pinnacle Entertainment, Politics, Racinos, Taxes
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Hoosier stasis; Last-minute scramble in Connecticut
Gaming revenues in Indiana were even with 2014 last month, as Hoosier State casinos pulled in $186 million. Foot traffic was down 9% and per-player spend rose 11%. So you’ve got fewer but bigger-spending gamblers: Is that a good thing or not? … Continue reading
Posted in Boyd Gaming, Foxwoods, Full House Resorts, Harrah's, Indiana, Mohegan Sun, Ohio, Penn National, Pinnacle Entertainment, Racinos
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Buckeye bounce; Macao’s woes a secret benefit?
Casino and racino revenues in Ohio were up nicely last month, +6.5%. We’re still at least a month away from having a full set of year/year comparisons but Gov. John Kasich‘s decision to supersize a four-casinos-only constitutional amendment into four casinos … Continue reading
Posted in Dan Gilbert, Economy, Eldorado Resorts, GLPI, Hard Rock International, Harrah's, Macau, Ohio, Penn National, Pinnacle Entertainment, Racinos, Steve Wynn
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Big players accentuate the positive
Deutsche Bank analyst Carlo Santarelli has been a busy man these past few days, meeting with the top companies in gaming. In no special order … Boyd Gaming took the usual line on REIT conversion and acquisitions, basically saying, “If … Continue reading
Posted in Ameristar, Boyd Gaming, Colorado, Downtown, Economy, Florida, GLPI, Illinois, International, Isle of Capri, Louisiana, Macau, Marketing, Massachusetts, MGM Mirage, Penn National, Pinnacle Entertainment, Sports, Steve Wynn, Texas, The Strip, Tilman Fertitta, Wall Street
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MGM lashes out; Doldrums in Louisiana
It took a while but MGM Resorts International is pushing back against Connecticut‘s attempts to build a satellite version of its tribal casinos, to interdict gamblers who might otherwise play at MGM Grand Springfield. Although he didn’t hint at litigation … Continue reading
That wild and crazy Glenn Straub strikes again
Now that wacky Glenn Straub is out of the picture, Stockton University says it is fielding offers for the ex-Showboat. What anybody can do other than run it as a hotel (Caesars Entertainment having removed its gaming entitlement but forgotten … Continue reading
Posted in Atlantic City, Boyd Gaming, Glenn Straub, GLPI, Harrah's, history, Iowa, Isle of Capri, Missouri, Penn National, Pinnacle Entertainment, Revel, Tilman Fertitta, Tourism, Tropicana Entertainment, Trump Entertainment Resorts, Unite-Here, Warner Gaming
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Indiana stumbles; “Green shoots” in Macao
Foot traffic was down 15% in Indiana casinos last month and even though players spent 10%, it wasn’t quite enough to stave off a 7% decline. (The numbers are worse if you don’t count free play as revenue, which Indiana … Continue reading
Posted in Boyd Gaming, Economy, Full House Resorts, Genting, GLPI, Harrah's, Indiana, Internet gambling, Macau, Ohio, Penn National, Pinnacle Entertainment, Racinos, Singapore
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Ohio: Dan Gilbert’s downfall; Icahn meets Randy the Rat
Ohio‘s slot hoppers have been emptied for August and it was a month marked by some dramatic swings of fate. Belterra Park‘s $6 million haul won’t blow anybody away but, at $145/slot/day, it’s doing an acceptable average and improved 41% … Continue reading
Posted in Atlantic City, Carl Icahn, Dan Gilbert, Eldorado Resorts, Environment, GLPI, Hard Rock International, Harrah's, International, Ohio, Penn National, Pinnacle Entertainment, Trump Entertainment Resorts, Unite-Here
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Disappointment in Illinois; Wynn’s new crib
One less weekend day doesn’t wholly explain the tepid results from Illinois in August. Harrah’s Joliet was down a dramatic 14%, while Hollywood Aurora was off 10% and Empress Joliet slipped 3%. Even seemingly invulnerable Rivers Casino in Des Plaines … Continue reading
Posted in Boyd Gaming, Dining, Economy, GLPI, Harrah's, Illinois, MGM Mirage, Penn National, Pinnacle Entertainment, The Strip, Tropicana Entertainment, Wall Street
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Optimism at MGM; SLS: The Unhappy Blob
MGM Resorts International sent CFO Dan D’Arrigo to meet with J.P. Morgan analysts, who found MGM execs in an upbeat mood. “We’d characterize the tone of the meetings as positive and investor interest as high,” wrote analyst Joseph Greff. That’s … Continue reading
Midwest shakes off malaise
Yes, there was an extra weekend day this year but let’s look at the glass half-full, as regional gaming markets shook off their malaise. Illinois was up 2% despite mild weakness in the St. Louis market. Empress Joliet (+10%) was … Continue reading
Posted in Ameristar, Boyd Gaming, Dan Gilbert, Economy, Hard Rock International, Harrah's, Horseracing, Illinois, Indiana, Isle of Capri, Majestic Star, MGM Mirage, Missouri, Neil Bluhm, Ohio, Penn National, Pinnacle Entertainment, Racinos, Wall Street
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Up in smoke
We know that Cosmopolitan of Las Vegas owner Blackstone Group wanted to change perceptions of the property but I don’t this is what they had in mind. One measly cigarette seems to have been all it took to send the … Continue reading
Posted in Cosmopolitan, history, Horseracing, International, Macau, Monte Carlo fire, Pinnacle Entertainment, The Strip
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MGM’s march to the sea; REITmania explained
Where MGM Resorts International goes, other casino companies are quick to follow — to Atlanta, in this case. Mayor Kasim Reed (pictured) is being coy about who the new suitors are, other than two are domestically based (would Las Vegas Sands … Continue reading
Posted in Baseball, Boulder Strip, Genting, Georgia, GLPI, Massachusetts, MGM Mirage, Ohio, Penn National, Pinnacle Entertainment, Politics, Regulation, Sheldon Adelson, Sports, The Strip, Wall Street
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