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- David McKee on You can’t fix stupid; Good-bad news on the bayou
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- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
- David McKee on Sibella scandal spreads; Supremes forestall Seminoles
- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
- David McKee on MGM crippled; Illinois & Indiana report; Bally’s shaky in Chi
- Paul Shanahan on MGM crippled; Illinois & Indiana report; Bally’s shaky in Chi
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Category Archives: Racinos
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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Massachusetts: No more casinos; Gilbert sells again
Citing an obvious saturation (already) in the Massachusetts market and the possibility of a tribal casino in Taunton or on Martha’s Vineyard, the Massachusetts Gaming Commission punted the award of the state’s final casino license into the indefinite future. In … Continue reading
Posted in Atlantic City, Caesars Entertainment, Dan Gilbert, Donald Trump, Genting, Indiana, International, Internet gambling, Las Vegas Sands, Maryland, Massachusetts, Neil Bluhm, Ohio, Penn National, Politics, Problem gambling, Racinos, Regulation, Singapore, Tribal
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Big Brother challenged in Joliet
If rampant facial recognition is such a good thing, how come music festivals like Coachella and SXSW are banning it? The casino industry could take a hint from this, especially as the rejection seems to be coming from much-coveted Millennials. … Continue reading
Scandal in Illinois (Where else?); Screwup in Florida
With no private developer willing to step up to the plate for a Chicago casino, Mayor Lori Lightfoot (D) is now pitching a city/state partnership. Why not? There won’t be any profits to divide. State Rep. Greg Harris (D), for … Continue reading
Posted in DFS, Florida, Illinois, Politics, Racinos, Regulation, Seminole Tribe, Slot routes, Sports betting, Taxes, The Mob
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What’s in a day?
Ohio and Illinois weathered a September with one less weekend day just fine. Indiana and Missouri, not so much. The Hoosier State was down 2.5% (on a weak comparison). The gross was $173 million. There were some big swings and … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Eldorado Resorts, Full House Resorts, Indiana, Missouri, Penn National, Racinos, Spectacle Entertainment, Tropicana Entertainment
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MGM beats Maryland malaise
Maryland officially hit the saturation point last month, as revenues dipped 1%. MGM National Harbor ($58 million) wasn’t hurting, up 6%—with slots and table games gaining equally—and with 40.5% market share. Maryland Live ($48 million) was second with 33.5% but … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Cordish Co., Dan Gilbert, Eldorado Resorts, GLPI, Golden Gaming, Hard Rock International, Horseracing, Illinois, Maryland, MGM Resorts International, Ohio, Penn National, Racinos, West Virginia
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Illegal slots run amuck in Missouri
With the casino industry so entrenched in Missouri you wouldn’t think there was a market for black-market slots. You’d think wrongly. The Missouri Gaming Commission has received 84 complaints alleging 200 instances of rogue machines. Casinos aren’t the only ones … Continue reading
Posted in Atlantic City, Caesars Entertainment, Florida, Horseracing, Law enforcement, Lotteries, MGM Resorts International, Missouri, Mohegan Sun, Ocean Resort, Politics, Racinos, Regulation, Technology
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Resort fees assailed; Hard Rock rocks Rockford
Resort fees, the bane of customers to Las Vegas, are inspiring some congressional action. Lawmakers Rep. Eddie Bernice Johnson (D) and Rep. Jeff Fortenberry (R) are collaborating on a bill that would outlaw resort fees (it’s the Hotel Advertising Transparency … Continue reading
Posted in Eldorado Resorts, Hard Rock International, Illinois, International, MGM Resorts International, Phil Ruffin, Politics, Problem gambling, Racinos, Regulation, Resort fees, The Strip, West Virginia
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Adelson power play in Las Vegas, unease in Macao
Sheldon Adelson, it long has been clear, brooks no dissent. He bought the Las Vegas Review-Journal to make it a megaphone for his political views (anybody remember the Marco Rubio presidential campaign, the one the R-J endorsed three times to … Continue reading
Sammy Naz strikes again; Stevens removes urban blight
While the ink has scarcely dried on the Sahara logo on the Las Vegas Strip, owner Alex Meruelo is already in hot water. The Las Vegas Review-Journal is reporting that Meruelo is being sued for unpaid licensing fees. In what … Continue reading
Posted in Alex Meruelo, Caesars Entertainment, Derek Stevens, Downtown, G2E, history, Illinois, Marketing, New Jersey, Racinos, Real Estate, Sahara, Sam Nazarian, SLS Las Vegas, Sports, Sports betting, Terry Caudill
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Train shows promise; Culinary sabotages Station
* We’re hearing a bit more on the Virgin Trains USA electric railway to Las Vegas. The first shovels are to go into the ground in 2023 and the route will mainly hew to the I-15 median. Completion is expected … Continue reading
Police blotter; Brockton gets shut out
Hawaii is one of the last two bastions of anti-gambling in America. Naturally, in such an environment, illegal gambling is going to flourish. Last week federal authorities indicted 15 individuals (seven of whom are on the lam) and seized 60 … Continue reading
Posted in Canada, Charity, Florida, Hard Rock International, Hawaii, Illinois, Law enforcement, Marijuana, Massachusetts, Money laundering, Neil Bluhm, Racinos, Regulation, Taxes, Tribal, Wynn Resorts
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Lesser is more; Are you ready for some football betting?
It’s been rather vexing to hear the voices in Massachusetts squawking to have the casino-enabling legislation enacted under Deval Patrick torn up and replaced with a series of loopholes. After two years of knowing that Encore Boston Harbor was headed … Continue reading
Furor in Illinois; ‘Carmageddon’ in New Jersey
Charles DeGaulle was famous as The Man Who Said No. That nickname may have to be reassigned to Churchill Downs CEO Bill Carstanjen. His decision not to seek racino status for Arlington International Racecourse has set the Illinois gaming industry and … Continue reading
Baccarat hamstrings the Strip
July would have been a good month for the Las Vegas Strip were it not for a wipeout at baccarat: down 26% on 15% less wagering, so luck was definitely not with the house. Overall, Strip revenues were up 1.5% … Continue reading
Posted in Boulder Strip, Churchill Downs, Downtown, Illinois, Lake Tahoe, Las Vegas Raiders, Laughlin, Nevada, North Las Vegas, Racinos, Reno, Rush Street Gaming, Sports, The Strip, Tourism, Transportation, Wall Street
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What if they built a megaresort and nobody came?
Resorts World Catskills made it into the New York Times and not in a good way. A feature story focused on the $1.2 billion megaresort’s financial difficulties, caused in part by nine-figure loans. Empire Resorts says the casino does not … Continue reading
El Paso, Dayton … Las Vegas?
Las Vegas, if you’ll pardon the pun, dodged a bullet when the FBI apprehended a man bent on killing large numbers of Jews and gay people. Conor Climo, the alleged bomber, has been linked to the white-supremacist netherworld and supposedly … Continue reading
Posted in Churchill Downs, Connecticut, Current, Downtown, Foxwoods, Full House Resorts, Indiana, Kentucky, Las Vegas Sands, Macau, Massachusetts, MGM Resorts International, Mohegan Sun, New Mexico, Pennsylvania, Racinos, Sports, Sports betting, Wall Street
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Churchill Downs’ bet pays off; Mob up at El Cortez
JP Morgan‘s Daniel Politzer expects Churchill Downs to be a winner thrice over in Illinois: first, a lower tax rate on table games, starting in 2020; second, a potential 800 additional gaming positions at Rivers Casino Des Plaines (which will … Continue reading
Posted in Churchill Downs, Downtown, El Cortez, Horseracing, Illinois, Massachusetts, MGM Mirage, Neil Bluhm, New York, Politics, Racinos, Rush Street Gaming, Taxes, The Mob, Wall Street, Wynn Resorts
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Rough April for Atlantic City; Britney to jilt MGM?
As always, Atlantic City proves to be a good-news/bad-news story. Gaming revenue there was up 8.5% higher last month but the love had to be spread thin, as same-store revenues fell 12%. Casinos grossed $207.5 million with slots up 6% … Continue reading
Posted in Atlantic City, Baseball, Boyd Gaming, Caesars Entertainment, Churchill Downs, Dan Gilbert, Detroit, Eldorado Resorts, Entertainment, Greenwood Racing, Hard Rock International, Internet gambling, MGM Resorts International, Mohegan Sun, New Jersey, Ocean Resort, Penn National, Pennsylvania, Racinos, Rush Street Gaming, Sports, Sports betting, The Strip, Tilman Fertitta
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Wall Street loves Wynn, Penn, MGM
JP Morgan analyst Joseph Greff issued a post-1Q19 bulletin in which he named Wynn Resorts (growth), Penn National Gaming (value for share price) and MGM Resorts International (event-driven revenue) as his top picks in the gambling sphere. Wynn got a … Continue reading
Posted in Arkansas, Caesars Entertainment, DFS, Dining, Eldorado Resorts, Election, Internet gambling, Iowa, Japan, Las Vegas Sands, Macau, Massachusetts, Melco Resorts & Entertainment, MGM Resorts International, Penn National, Pennsylvania, Pets, Pinnacle Entertainment, Problem gambling, Racinos, Sports betting, The Strip, Tilman Fertitta, Transportation, Wall Street, Wynn Resorts
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