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- David McKee on Sibella scandal spreads; Supremes forestall Seminoles
- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
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Category Archives: Regulation
Strip returns to form; Caesars nixes buffets, free play
Last month Nevada raced ahead of 2019 gambling-revenue benchmarks, up 11% to just over $1 billion. Locals-derived winnings ($245 million) jumped 18%, despite operating at 80% capacity. (Locals casinos saw 15% higher slot win 18% greater handle and 35.5% more … Continue reading
Posted in Australia, Boulder Strip, Caesars Entertainment, Connecticut, Crown Resorts, DFS, Dining, Donald Trump, Downtown, Economy, Election, Foxwoods, G2E, Health, Internet gambling, Lake Tahoe, Laughlin, Lawrence Ho, Macau, Maryland, Massachusetts, Melco Resorts & Entertainment, Mesquite, Mississippi, Mohegan Sun, Nevada, North Las Vegas, Regulation, Reno, Sports betting, Stanley Ho, Station Casinos, Taxes, The Strip, Tilman Fertitta, Wendover
1 Comment
Casinos collapse in Texas, advance elsewhere
All Sheldon Adelson‘s horses and all Sheldon Adelson’s men couldn’t put Texas megaresorts together. Or, as they said in Brooklyn (in a non-gaming context), wait ’til next year. Two separate bills to authorize everything from full-service casinos to poker rooms … Continue reading
Posted in Atlantic City, Bally, Caesars Entertainment, Cordish Co., Dining, Donald Trump, Florida, Hard Rock International, Health, Internet gambling, Las Vegas Sands, Louisiana, MGM Resorts International, New Jersey, Politics, Regulation, Seminole Tribe, Sheldon Adelson, Sports betting, Taxes, Texas, The Strip, Tilman Fertitta, Tribal, Virginia
1 Comment
MGM dumps Springfield; Gaming recovery a proven fact
MGM Resorts International isn’t quitting Springfield but it’s taking a bath on its eponymous casino in order to reduce its exposure to the (disappointing) market. MGM spent $960 million on the resort, which has never performed up to expectations, and … Continue reading
Posted in AGA, Atlantic City, BetMGM, Caesars Entertainment, Cordish Co., Dining, DraftKings, Economy, Entertainment, FanDuel, Golden Gaming, Hard Rock International, Health, Internet gambling, Massachusetts, MGM Resorts International, Ocean Resort, Pennsylvania, Real Estate, Regulation, Resort fees, South Dakota, Sports, Sports betting, Tennessee, The Strip, Wall Street, Wynn Resorts
1 Comment
Wynn gaining steam; Miami Beach casino juice job dismissed
First-quarter results for Wynn Resorts were worse than expected in Macao but better than anticipated in both Las Vegas and Boston, while the company posted a revenue chasm around Wynn Interactive. To shore up the latter, Wynn is merging it … Continue reading
Posted in Bally, BetMGM, Boyd Gaming, Caesars Entertainment, Century Casinos, Conventions, Donald Trump, DraftKings, FanDuel, Florida, Hard Rock International, Horseracing, Illinois, Internet gambling, Macau, Marketing, Massachusetts, Missouri, Nevada, New York, Ohio, Penn National, Pennsylvania, Politics, Regulation, Seminole Tribe, Sociedade de Jogos de Macau, Sports betting, The Strip, Tourism, Tribal, TV, Virginia, Wall Street, Wynn Resorts
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Las Vegas rates rebound; Kentucky Derby brings out crowds
In another sign of a faster-than-expected Las Vegas comeback, room rates on the Strip for the May 23-29 period are reported to be flat with 2019. Midweek numbers are mildly down (-17%) but counterbalanced by higher weekend rates (+18%) than … Continue reading
Posted in Atlantic City, Australia, China, CityCenter, Conventions, Crown Resorts, Dining, Dubai, Economy, Entertainment, Genting, Golden Nugget, Hard Rock Hotel, Health, Horseracing, Illinois, International, Las Vegas Sands, MGM Resorts International, Palms, Pennsylvania, Plaza, Real Estate, Regulation, Singapore, Sports, Sports betting, Station Casinos, Taxes, Tennessee, The Strip, Tribal, Virginia, Wynn Resorts
1 Comment
Big win for Seminoles?; Parx the deadliest track of all
Florida Gov. Ron DeSantis (R) succeeded where predecessor Rick Scott failed, inking a pact with the Seminole Tribe that would unlock the $35o million a year that the Seminoles have been holding in escrow. In return, the tribe gets a … Continue reading
Posted in Animals, Bally, BetMGM, Boyd Gaming, Caesars Entertainment, Churchill Downs, Cirque du Soleil, Cordish Co., Crown Resorts, Downtown, DraftKings, Entertainment, FanDuel, Florida, Greenwood Racing, Hawaii, Horseracing, Internet gambling, James Packer, Las Vegas Sands, Massachusetts, MGM Resorts International, New York, Ohio, Pennsylvania, Politics, Regulation, Seminole Tribe, Sports betting, Taxes, Tennessee, The Strip, Transportation, Virginia, Wall Street, William Hill, Wynn Resorts
Comments Off on Big win for Seminoles?; Parx the deadliest track of all
BetMGM “very credible”; Recovery at Sands “gradual”
That’s how JP Morgan analyst Joseph Greff described an evidently persuasive virtual meeting with BetMGM covering the latter’s recent results and strategic objectives. “To us, this was a credible presentation (particularly with its customer acquisition and retention objectives and operating … Continue reading
Posted in Alabama, Atlantic City, Bally, California, Canada, China, Cosmopolitan, Culinary Union, Dotty's, DraftKings, Economy, FanDuel, Illinois, Internet gambling, Las Vegas Sands, Louisiana, Macau, Marketing, MGM Resorts International, Michigan, Mohegan Sun, Nevada, New Jersey, New York, Ocean Resort, Politics, Regulation, Singapore, Slot routes, Texas, The Strip, Tribal, Wall Street, Wynn Resorts
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Atlantic City disappoints, Internet gambling doesn’t
We’re going to have revise our prediction that Atlantic City would recover from Covid-19 faster than Las Vegas. Not at the rate things are going. March casino win was down 17% from 2019, coming in at $185 million. The Caesars … Continue reading
Posted in Alabama, Arizona, Atlantic City, Bally, Caesars Entertainment, China, DraftKings, FanDuel, Florida, Golden Nugget, Hard Rock International, Health, Internet gambling, Lotteries, MGM Resorts International, Mohegan Sun, New Jersey, New York, Ocean Resort, Pennsylvania, Philippines, Politics, Regulation, Seminole Tribe, Sports, Sports betting, Taxes, The Strip, Tribal, Wall Street, William Hill, Wynn Resorts
3 Comments
Vegas: green shoots galore; Seminoles saluted
Against all odds, it appears that Las Vegas‘ recovery is taking place faster than anticipated (save by a very few). A CNN feature is vaguely euphoric but it does cite several new must-see attractions. For the all-important convention business, which … Continue reading
Missouri booms; Trop sale a steal of a deal
After a hiccup in Indiana, gaming revenues continued to march (pun unintended) upward from 2019 levels, which were pretty darn robust. Missouri gained 6% for a gross of $176.5 million, “one of the best months ever” according to JP Morgan … Continue reading
Posted in Arizona, Bally, Boyd Gaming, Caesars Entertainment, Century Casinos, DraftKings, FanDuel, GLPI, Health, Iowa, MGM Resorts International, Missouri, Penn National, Regulation, Rush Street Gaming, Sports, Sports betting, Tamares Group, The Strip, Tribal, Wall Street, William Hill, Wisconsin
3 Comments
Trop flipped; Arizona, Maryland join sports-betting club
The Gaming & Leisure Properties Inc. regime at Tropicana Las Vegas was (as planned) a short-lived one. GLPI just announced that it has flipped the Trop to Bally’s Corp., which evidently couldn’t wait one minute longer to get onto the … Continue reading
Posted in Arizona, Atlantic City, Bally, Caesars Entertainment, Canada, Colorado, Delaware, Downtown, DraftKings, Entertainment, FanDuel, Foxwoods, GLPI, Golden Nugget, Illinois, Indiana, Iowa, Japan, Las Vegas Sands, Marketing, Maryland, MGM Resorts International, Mohegan Sun, Nevada, Penn National, Politics, Regulation, Sports, Sports betting, Tribal, Wall Street, William Hill
1 Comment
“In a word, messy”
That’s how JP Morgan analyst Joseph Greff described the online sports-betting bill enacted by the New York State Lege. The latter essentially caved to Gov. Andrew Cuomo (D), giving control of OSB to the state lottery. Instead of the one-operator … Continue reading
Posted in Arizona, Atlantic City, Detroit, DraftKings, Environment, Genting, Las Vegas Sands, MGM Resorts International, Nevada, New Jersey, New York, Ocean Resort, Palms, Politics, Real Estate, Regulation, Sports betting, Station Casinos, Tribal, Wall Street
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Caesars looking good; Amtrak covets Vegas; Bally’s underwhelms
Joseph Greff and his fellow JP Morgan analysts looked at recent trends in Las Vegas and any place not named Atlantic City, and liked what they saw, raising their price target on the stock five bucks to $101/share. Positive factors … Continue reading
Posted in Atlantic City, Bally, Caesars Entertainment, California, Cosmopolitan, Dining, Economy, Golden Nugget, Harry Reid, Health, Indiana, Marketing, MGM Resorts International, Michigan, Nevada, Oklahoma, Regulation, Reno, Station Casinos, Technology, Texas, The Rio, The Strip, Tourism, Transportation, Tribal, Wall Street, William Hill, World Series of Poker, Wynn Resorts
2 Comments
Virginia sports betting debuts large; ‘CSI’ back in Vegas
Virginia has now had two full months of sports betting and February handle was an impressive $266 million—not quite the explosion that Michigan was but still noteworthy as the second-biggest debut in U.S. history. Reacted PlayUSA analyst Dustin Gouker, “The … Continue reading
Posted in Dining, DraftKings, Entertainment, FanDuel, Full House Resorts, Genting, Health, Indiana, Law enforcement, Massachusetts, MGM Resorts International, Mississippi, North Carolina, Philippines, Problem gambling, Regulation, Resorts World LV, Rush Street Gaming, Sports, Sports betting, Taxes, Tribal, TV, Virgin Hotels, Virginia, William Hill, Wynn Resorts
2 Comments
Circa picketed; Sundry green shoots in Vegas; Sports book busted
If you cruise by Circa, you’re liable to see members of Teamsters Local 986 walking a picket line on behalf of the ‘Circa Seven,’ a group of unfortunate warehouse workers. The seven were employed by Derek Stevens‘ Three Corners company, … Continue reading
Posted in Atlantic City, Bally, Caesars Entertainment, Cordish Co., Derek Stevens, Dining, Downtown, Economy, Florida, Golden Nugget, Las Vegas Sands, MGM Resorts International, Mohegan Sun, Money laundering, Ocean Resort, Regulation, Seminole Tribe, Sports, Sports betting, Tennessee, The Strip, TV, Virgin Hotels, Virginia, Wynn Resorts
2 Comments