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Category Archives: Racinos
Indiana: Half-full or half-empty?; ‘Priscilla’ faints
That’s the operative question after a contrariwise June in Indiana. The state’s casinos saw 17% less foot traffic, but those fewer players were spending more (up 6%). Even so, the Hoosier State’s racinos, casinos and riverboats were down 12% for … Continue reading
New bosses at Hooters; Caesars: If it worked for Obama … ?
While nobody wants to buy or even lease the Hooters Hotel, current owners Canyon Capital Realty Advisors at least have found some new gaming expertise for the property. In this case, “new” is a relative term, as the familiar faces … Continue reading
Quote of the Day
“… casino ‘taxes’ are really more accurately described as profit-sharing arrangements, making states in effect business partners in gambling operations, a recipe for crony capitalism, favoritism for politically connected businesses, and, now, to no one’s great surprise, bailout considerations … … Continue reading
Ohio: A disappointment, not a flop
Editor’s note: On June 20, J.P. Morgan lowered its price-per-share target for Penn National Gaming, citing “the sluggish Ohio ramp,” along with cannibalization of business in neighboring states. On May 22, legislators in Ohio voted to limit payouts from “sweepstakes … Continue reading
Posted in Dan Gilbert, Economy, Harrah's, Internet gambling, Massachusetts, MTR Gaming, New Hampshire, Ohio, Penn National, Pennsylvania, Politics, Racinos, Regulation, Rhode Island, Tribal, Wall Street
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Nazarian’s secret weapon?; Vegas still equals value
It’s Monday, so it must be time for another worshipful Sam Nazarian profile in the Los Angeles Times. Sure enough. If you can endure the usual LAT fawning, one will glean some useful facts and inferences — plus a reminder … Continue reading
Posted in Colony Capital, Current, Entertainment, Genting, MGM Mirage, New York, Politics, Racinos, Sam Nazarian, The Strip, Tourism
1 Comment
Wynn gets serious in Massachusetts; Little racino bests Caesars
Steve Wynn is engaging a multi-pronged effort to clinch the favor of voters in Everett. Of course, if the Massachusetts Gaming Commission takes time off from generating paperwork to stop and be impressed by Wynn’s campaign, so much the better. Wynn’s … Continue reading
Posted in Architecture, Current, Dan Gilbert, Harrah's, Massachusetts, Ohio, Pennsylvania, Racinos, Regulation, Steve Wynn, Taxes, Tribal
1 Comment
Penn: Start making sense!; Casinos clean up in Lege
Casinos in Ohio have not been living up to revenue expectations. Given such a fallow market, what has Penn National Gaming decided to do? Break ground on two racinos, of course! One is in the Dayton area, the other — … Continue reading
Big setback in Toronto; Wynn rebuffed; Cuomo’s winning streak
One of gaming’s biggest new markets went out with a whimper, not a bang, when colorful Toronto Mayor Rob Ford nixed a scheduled vote on whether to put a casino in the lakeside city, hoping to extract a $97 million … Continue reading
Posted in Colorado, Current, Dan Gilbert, Detroit, Economy, Harrah's, Horseracing, International, Massachusetts, MGM Mirage, New York, Penn National, Politics, Racinos, Regulation, Steve Wynn, Taxes, Texas, Tribal
1 Comment
Pennsylvania and Louisiana: It’s what it is
When last seen, Caesars Entertainment CEO Gary Loveman was telling his brethren that a stale property is an endangered property. To prove his point, he need look no farther than Philadelphia, where new kid on the block Valley Forge Casino … Continue reading
Big vote in Beantown?; Penn National short-sheets Maryland
That’s what it could come to in Boston, if mayoral candidate — and current Suffolk County D.A. — Daniel Conley gets his wish. Rather than simply letting East Boston vote up or down on Caesars Entertainment‘s proposed conversion of Suffolk … Continue reading
Equivocal anniversary for Ohio; In Massachusetts, progress for MGM and Wynn
So, as Ohio marks the first full year of casino play, is the glass half-full or half-empty. Currently, much is being made of Horseshoe Cleveland having brought in less than half of greatly over-ambitious expectations (and 12% less than what … Continue reading
Posted in Architecture, Current, Dan Gilbert, Dining, Economy, Entertainment, Harrah's, Massachusetts, MGM Mirage, Ohio, Penn National, Politics, Racinos, Regulation, Steve Wynn, Taxes, Tourism
3 Comments
Cleveland: Gilbert appeases skeptics; Scientific Games dissed
Hey, if you had an albatross the size of Caesars Entertainment slung around your neck, you’d be understandably subject to skepticism and perhaps even being called out in public, perhaps to the point of getting tetchy about it. That’s the … Continue reading
Posted in Current, Dan Gilbert, Detroit, Harrah's, International, Maryland, Ohio, Racinos, Scientific Games, Technology, Wall Street, WMS Industries
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Illinois: Quinn caves; Money grab in Missouri
That pesky Illinois Legislature writes up a new, gambling-expansion bill as fast as Gov. Pat Quinn (D, left) can veto the last one. Evidently worn down by long combat with lawmakers and facing a $100 million hole in the state’s … Continue reading
Steve Wynn turns into Debbie Downer; Caesars’ screwy priorities
Yes, the recovery in Las Vegas could be said to be a chastened and limping one. The national press will leap at just about anything to restart the “Vegas is back” narrative. And yes, CityCenter ROI improved exponentially … to … Continue reading
Posted in CityCenter, Current, Economy, Election, Harrah's, Horseracing, Macau, Massachusetts, MGM Mirage, Racinos, Regulation, Sheldon Adelson, Steve Wynn, The Strip
6 Comments
Springfield: MGM bests Penn … for now
Yes, the comedy is finished in Springfield, at least for the moment. In an episode worthy of The Simpsons and after an epic amount of foot-dragging, Springfield Mayor Domenic Sarno was cajoled and ultimately browbeaten into actually taking a stand … Continue reading
Posted in Current, Dining, Economy, International, Massachusetts, MGM Mirage, Neil Bluhm, Penn National, Politics, Racinos, Regulation, Tourism, Tribal, TV, Wall Street
1 Comment
Ohio: Penn recovers
Decimation of the slot floor at Hollywood Columbus proved to be just what the doctor ordered, “given the initial lackluster start and relatively low investor expectations,” as J.P. Morgan analyst Joseph Greff writes. Minus 515 machines, revenues at H’wood Columbus … Continue reading
Posted in Current, Dan Gilbert, Harrah's, MTR Gaming, Ohio, Pennsylvania, Racinos, Wall Street
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Echelon no more: Boyd humiliated yet again; Caesars pulls another plug
If you’ll pardon my vulgarity, shit got real while I was tied up with other projects. Last week’s sale of excess baggage Dania Jai-Alai in Florida was just a tiny prelude to this morning’s blockbuster: Echelon is kaput. Instead, Boyd Gaming … Continue reading
Posted in Architecture, Atlantic City, Boyd Gaming, Carl Icahn, CityCenter, Current, Downtown, Economy, Environment, Florida, Fontainebleau, Genting, Harrah's, history, International, Kansas, Mississippi, New York, Plaza, Politics, Racinos, Regulation, Sahara, Singapore, Station Casinos, The Strip, Wall Street
7 Comments
Case Bets: Binion’s redux; Dr. Doom; Everybody goes to Caesars
Today’s top story is the rumor, first aired on LasVegasAdvisor.com that Binion’s Gambling Hall & Hotel will close in July, lock, stock and million-dollar display. This dovetails with an earlier report that a detailed makeover is in the works. So … Continue reading
Posted in Architecture, Atlantic City, California, Dan Gilbert, Derek Stevens, Dining, Downtown, Economy, Harrah's, Illinois, Indiana, Internet gambling, Marketing, Massachusetts, Ohio, Oscar Goodman, Palms, Penn National, Pennsylvania, Problem gambling, Racinos, Slot routes, Taxes, Technology, Terry Caudill, The Strip, Tilman Fertitta, Tribal
3 Comments
SLS/Sahara: Nazarian gets his green (cards); Caesars green-lit for Cincy
Just when Sam Nazarian‘s mooted reinvention of the defunct Sahara as SLS Las Vegas looked dead and gone, The Naz slipped in under the wire with all the offshore money he required and a bit more: Sahara Sam needs $115 … Continue reading
Posted in Current, Dan Gilbert, Downtown, Economy, Harrah's, International, Maryland, Ohio, Racinos, Regulation, Sahara, The Strip, Tourism
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