Category Archives: Pinnacle Entertainment

Pennsylvania casino draws no bids; Louisiana: Raise the levies!

Posted on March 13, 2018 by David McKee

What if they gave a casino and nobody came? That’s literally what took place in Pennsylvania where the fifth mini-casino license received no bids. Nada. Nix. Bupkes. From this point forward, Valley Forge Casino and Lady Luck Nemacolin will be … Continue reading →

Posted in Boyd Gaming, Churchill Downs, DFS, Greenwood Racing, Internet gambling, Iowa, Louisiana, Neil Bluhm, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Problem gambling, Racinos, Sheldon Adelson, Taxes, Tribal | Comments Off

Indiana suffers, Ohio not so much; Station’s surprise

Posted on March 8, 2018 by David McKee

While its $170 million gross looked a lot better than Illinois‘ $104 million, Indiana saw its gamblers stay home in droves — 24% less foot traffic, although those who showed up seemed to have spent 21%. In any event, gambling … Continue reading →

Posted in Boyd Gaming, Churchill Downs, Economy, Eldorado Resorts, George Maloof, GLPI, Hard Rock International, Harrah's, Illinois, Indiana, Kentucky, Marketing, Ohio, Palms, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Reno, Sports, Station Casinos, The Strip, Tribal | Comments Off

Greed in Japan; IGT embraces diversity

Posted on February 26, 2018 by David McKee

“Japan Junks it Up.” That was Global Gaming Business‘ teaser for an article on investment-killing measures that have a strong chance of making it into the Liberal Democratic Party‘s casino-implementation bill. Jim Murren might want to think twice about sinking … Continue reading →

Posted in Boyd Gaming, Dining, Eldorado Resorts, Harrah's, IGT, Illinois, Iowa, Isle of Capri, Japan, Macau, Melco Resorts & Entertainment, MGM Mirage, Missouri, Pinnacle Entertainment, Politics, Sheldon Adelson, Slot routes, Taxes, Wynn Resorts | 1 Comment

Louisiana stutters; MLB rigs the odds

Posted on February 16, 2018 by David McKee

Gambling in Louisiana was a bit off the pace last month, down 4% ($187 million). Most of that was due to a terrible Baton Rouge market, tumbling 21%, while Lake Charles (+2%) remained immune. New Orleans (-2%) and Shreveport/Bossier City … Continue reading →

Posted in Boyd Gaming, Churchill Downs, Economy, Eldorado Resorts, GLPI, Harrah's, Internet gambling, Isle of Capri, Kazuo Okada, Louisiana, Missouri, Pinnacle Entertainment, Politics, Sports, Steve Wynn, Tilman Fertitta, Tropicana Entertainment, TV, Wall Street, Wynn Resorts | 1 Comment

Cold January in Atlantic City, Pennsylvania; Bull runs rampant in Vegas

Posted on February 15, 2018 by David McKee

Just when everything seemed settled into a comfortable groove in Atlantic City, January revenues fell off the table, down 12.5%. The silver lining, if it qualifies as that, was that online revenues ($22 million) climbed 17%. Golden Nugget, with 33% … Continue reading →

Posted in Animals, Atlantic City, Boyd Gaming, Culinary Union, Current, Dan Gilbert, Detroit, Economy, Eldorado Resorts, Greenwood Racing, Harrah's, Internet gambling, Isle of Capri, MGM Mirage, Mohegan Sun, Neil Bluhm, North Las Vegas, Penn National, Pennsylvania, Pinnacle Entertainment, Sheldon Adelson, Station Casinos, Tilman Fertitta, Tropicana Entertainment | 1 Comment

GLPI picks at Wynn; Indiana players stay home

Posted on February 9, 2018 by David McKee

Gaming & Leisure Properties met with Wall Street analysts this week and it had the future of Wynncore on its mind. “While GLPI remains open to doing Las Vegas asset transactions, they view the risk profile as considerably higher given … Continue reading →

Posted in Ameristar, Boyd Gaming, Centaur Gaming, Charity, Economy, Eldorado Resorts, Full House Resorts, GLPI, Harrah's, Indiana, Majestic Star, Mandalay Bay Massacre, Massachusetts, MGM Mirage, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, The Strip, Tribal, Tropicana Entertainment, Wall Street, Wynn Resorts | Comments Off

Life after Wynn

Posted on February 8, 2018 by David McKee

There may not be much, according to a feature in the New York Times. Wall Street analysts are already circling Wynn Resorts like buzzards. “Elvis has left the building. Mr. Wynn’s value to the company is unarguably profound as its chief visionary … Continue reading →

Posted in Boyd Gaming, Dan Gilbert, Eldorado Resorts, Hard Rock International, Macau, Massachusetts, Ohio, Penn National, Pinnacle Entertainment, Racinos, Regulation, Sexual misconduct, Sheldon Adelson, Steve Wynn, Wall Street | 1 Comment

Caesars seeks to transform New Orleans skyline

Posted on February 7, 2018 by David McKee

Harrah’s New Orleans was built on the presumption that it would have neither hotel rooms nor restaurant, thereby not sapping the businesses around it. Through some clever — one might even say Machievallian — maneuvers by then-CEO Phil Satre, both … Continue reading →

Posted in Election, Harrah's, history, Isle of Capri, Louisiana, Penn National, Pinnacle Entertainment, Politics, Tribal | Comments Off

Wynn in a corner; Delaware may cut racinos some slack

Posted on February 2, 2018 by David McKee

Things have gotten so bad for Steve Wynn that he’s been reduced to asking his employees to support him in Sexgate. “In a family, people look after each other … They take care of the people they serve” he said, a … Continue reading →

Posted in Ameristar, Delaware, Dining, Genting, Indiana, Massachusetts, New York, Pennsylvania, Pinnacle Entertainment, Racinos, Regulation, Sexual misconduct, Steve Wynn, Taxes, The Strip | 1 Comment

Bumpy December in Louisiana; Paddock mystery deepens

Posted on January 23, 2018 by David McKee

Louisiana gaming receipts ($227 million) were flat last month, although there were a number of little dramas being played out behind that bland façade. Lake Charles was up 7% and Baton Rouge casinos plunged 17%. L’Auberge du Lac was flat, … Continue reading →

Posted in Boyd Gaming, California, Churchill Downs, Eldorado Resorts, GLPI, Harrah's, Isle of Capri, Law enforcement, Louisiana, Mandalay Bay Massacre, Mesquite, Pinnacle Entertainment, Politics, Regulation, Tilman Fertitta, Tribal, Tropicana Entertainment, Unite-Here | Comments Off

Monopoly!

Posted on January 18, 2018 by David McKee

“They came. They saw. They were rejected,” wrote Richard Velotta wittily in the Las Vegas Review-Journal‘s report of a spurned takeover attempt by MGM Growth Properties of Vici Properties. Yes, the long-dreaded MGM/Caesars merger effort has finally come to pass. … Continue reading →

Posted in Ameristar, Architecture, Boyd Gaming, Donald Trump, Harrah's, Indiana, Majestic Star, Massachusetts, MGM Mirage, Pinnacle Entertainment, The Strip, Tribal, Wall Street | 3 Comments

Carnage in Pennsylvania; Fortune Cup takes on Sigma Derby

Posted on January 15, 2018 by David McKee

*Slot revenues at Pennsylvania casinos are in and if JP Morgan‘s numbers are correct they were terrible. According to Morgan analysts slot winnings dove 27%, bottoming out at $187.5 million. Worst off was Sands Bethlehem ($25 million), sinking 44%, followed … Continue reading →

Posted in Boyd Gaming, Dan Gilbert, Delaware, Detroit, Eldorado Resorts, GLPI, Greenwood Racing, Harrah's, Internet gambling, Massachusetts, MGM Mirage, Minnesota, Neil Bluhm, Nevada, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Sheldon Adelson, Sports, Station Casinos, Taxes, Technology, Tourism, Tribal, Wall Street, West Virginia | Comments Off

State of the Strip; Air Area 51

Posted on January 10, 2018 by David McKee

Deutsche Bank analyst Carlo Santarelli met with a number of casino companies recently and came away with a sanguine prospect for the Las Vegas Strip. As for the operators, “Overall, we felt commentary pertaining to the LV locals market, regional … Continue reading →

Posted in Affinity Gaming, Ameristar, Atlantic City, Boyd Gaming, Culinary Union, Economy, Eldorado Resorts, Entertainment, Harrah's, Indiana, International, Isle of Capri, Kentucky, Macau, MGM Mirage, Missouri, Penn National, Pennsylvania, Pinnacle Entertainment, Reno, Sports, The Strip, Tropicana Entertainment, Wall Street | Comments Off

Beauregard the Buzzkill; Arkansas tries for casinos

Posted on January 9, 2018 by David McKee

Attorney General Jefferson Beauregard Sessions has detected that Americans are enjoying themselves and it’s got to stop, forthwith. He’s declared war on marijuana-friendly laws across this great land, misguidedly making loco weed his department’s top law-enforcement priority. Beauregard is flying … Continue reading →

Posted in Arkansas, Boyd Gaming, Colorado, Dan Gilbert, Eldorado Resorts, Election, Hard Rock International, Law enforcement, Macau, Marijuana, Melco Resorts & Entertainment, Nevada, Ohio, Penn National, Pinnacle Entertainment, Problem gambling, Regulation, Sociedade de Jogos de Macau, Sports, The Strip, Tribal | Comments Off

Revel sold (again); Freeman slams Indiana bill

Posted on January 9, 2018 by David McKee

Glenn Straub wins our Liar Liar Pants on Fire Award hors concours for dissembling about any intentions to sell Revel while negotiating a deal to do precisely that. Give him credit, though, for raising the defunct megaresort’s value: The $200 … Continue reading →

Posted in Ameristar, Atlantic City, Boyd Gaming, Economy, Geoff Freeman, Glenn Straub, Hard Rock International, Indiana, Iowa, Mandalay Bay Massacre, MGM Mirage, Penn National, Pinnacle Entertainment, Politics, Revel, Sports, The Strip, Wall Street | 3 Comments

Rethinking riverboats in Louisiana; Santa hearts Boyd; High and dry

Posted on December 21, 2017 by David McKee

Baton Rouge is one of the markets that hews to the archaic practice of mandating that godless gambling be conducted over water. H2O has remarkable cleansing properties on filthy casino lucre, it seems. At any rate, even though L’Auberge Baton … Continue reading →

Posted in Architecture, Boyd Gaming, Churchill Downs, Current, Economy, Eldorado Resorts, GLPI, Greenwood Racing, Internet gambling, Isle of Capri, Louisiana, Macau, Palms, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Regulation, Sheldon Adelson, Sports, Station Casinos, Taxes, Tilman Fertitta, Tropicana Entertainment, Wall Street | 1 Comment

The Deal of the Year

Posted on December 19, 2017 by David McKee

Ever-ravenous Penn National Gaming gulped down Pinnacle Entertainment over the weekend, paying $2.8 billion for a collection of top-quality gaming assets. Among other benefits, the deal strengthens Penn’s position in its home state, as it gets The Meadows racino, doubling … Continue reading →

Posted in Ameristar, Boyd Gaming, Colorado, Economy, Eldorado Resorts, GLPI, International, Iowa, Louisiana, Massachusetts, Missouri, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Station Casinos, Taxes, Tourism, Transportation, Wall Street | 3 Comments

Indiana, Missouri see happy days; Don’t count on Millennials

Posted on December 11, 2017 by David McKee

It looks like Penn National Gaming is picking a good time to acquire Pinnacle Entertainment, to judge by the healthy performance of the Missouri and Indiana markets (though it must be kicking itself for having missed the loophole that allowed … Continue reading →

Posted in Affinity Gaming, Ameristar, Atlantic City, Boyd Gaming, California, Economy, Eldorado Resorts, Florida, Full House Resorts, Harrah's, Illinois, Indiana, Louisiana, Marketing, Maryland, Missouri, North Las Vegas, Penn National, Pinnacle Entertainment, Tourism, Tropicana Entertainment | Comments Off

Malaise in Illinois, optimism in Ohio; Frissora’s smooth move

Posted on December 8, 2017 by David McKee

Illinois casinos have never recovered from the double-whammy of the Great Recession and a smoking band, and now they have to contend with slot routes. Last month they were down 2.5% statewide($108.5 million). Taking a closer look, two riverboats were … Continue reading →

Posted in Boyd Gaming, Dan Gilbert, Eldorado Resorts, GLPI, Hard Rock International, Harrah's, Illinois, Indiana, International, MGM Mirage, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Racinos, Sheldon Adelson | Comments Off

Quote of the Day

Posted on December 6, 2017 by David McKee

“I don’t think a merger of Penn and Pinnacle will change the general trends taking place in gaming today. Gaming resorts are getting bigger and flashier as more states open up gambling to generate revenue. And as new casinos open … Continue reading →

Posted in Economy, Penn National, Pinnacle Entertainment, Wall Street | Comments Off