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Category Archives: Resort fees
Massachusetts booms; Know your enemy
January was very, very good for Massachusetts casinos, which raked in $97 million, pretty darn good for a state with only three gambling halls and a 17.5% leap over last year. The biggest overachiever was Plainridge Park, vaulting 24% to … Continue reading
Maryland, Illinois leap; Mega-Jottings
So where’s that recession? January revenues from Maryland casinos are in and the $167 million gross is a 9% improvement on 2022. None of the six gambling halls were revenue-negative. MGM National Harbor led the pack with $72 million, an … Continue reading
Posted in Atlantic City, Bally, Boyd Gaming, Caesars Entertainment, Churchill Downs, Cordish Co., Culinary Union, DraftKings, Entertainment, Full House Resorts, GLPI, Golden Gaming, Hard Rock International, Health, Illinois, Las Vegas Sands, Macau, Maryland, MGM Resorts International, New Jersey, Penn National, Real Estate, Resort fees, Station Casinos, The Strip, Vici Properties
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Massachusetts jumps; Bally’s sags; Century flees
Defying a larger trend, Massachusetts closed out 2022 with strength, its casino revenues up 8% to $103 million. The big dog, Encore Boston Harbor, leapt 10% to a boffo $68.5 million, beating Wall Street expectations. MGM Springfield‘s gain was more … Continue reading
Posted in Arkansas, Bally, Century Casinos, Dining, Indiana, International, James Packer, Massachusetts, MGM Resorts International, Nevada, Penn National, Regulation, Resort fees, Singapore, Tribal, Wall Street, Wynn Resorts
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Caesars Strip-tease; Slot flea swatted; Biden targets resort fees
In the end, all that talk of Caesars Entertainment selling a Las Vegas Strip asset was just a sham. The company probably couldn’t find any takers for the Flamingo at CEO Tom Reeg‘s preposterous asking price (ditto his equally preposterous … Continue reading
Posted in Arizona, Bally, Baseball, Caesars Entertainment, Chicago, Churchill Downs, Conventions, Cordish Co., Hard Rock International, Indiana, Internet gambling, Lake Tahoe, Louisiana, Michigan, Nebraska, Nevada, New York, Planet Hollywood, Politics, Real Estate, Resort fees, Sports betting, Taxes, The Strip, Tourism, Tribal, Virginia, Wall Street, Washington State
4 Comments
Boyd outperforms; Vegas airport sets record, joblessness drops
“No gaming consumer slowdown, at least not yet.” That was the headline of JP Morgan analyst Joseph Greff‘s appraisal of Boyd Gaming‘s 2Q22 earnings call. Loyalty players and core customers remain steadfast, as Boyd grew revenues 4% “despite a tough … Continue reading
Posted in Arizona, Boyd Gaming, California, Downtown, Economy, Internet gambling, Kansas, Louisiana, MGM Resorts International, Nevada, Ohio, Pennsylvania, Reno, Resort fees, Sports betting, The Strip, Tourism, Transportation, Tribal, Wall Street
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Louisiana levels off, DraftKings sucks wind, Golden gilded
Gaming analysts have been cautioning us to expect “difficult comparisons” between 2022 and previous high-water years late 2019 and 2021. Indeed, Louisiana‘s January was flat with 2019, if up 8% from last year. Sports betting was weak: $49 million in … Continue reading
Posted in Apollo Management, Atlantic City, Bally, Baseball, Boyd Gaming, Caesars Entertainment, Churchill Downs, DraftKings, Economy, Eldorado Resorts, Florida, G2E, Golden Gaming, Golden Nugget, Hard Rock International, Hawaii, Japan, Las Vegas Sands, Laughlin, Louisiana, New Jersey, New York, Peninsula Pacific, Penn National, Regulation, Resort fees, Slot routes, Sports betting, Tourism, Wall Street, Wynn Resorts
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Fear and loathing in Chicago; All’s well in Macao; Tribe comes back from nonexistence
It wouldn’t be a fight for a Chicago casino if it weren’t down and dirty—and it is. Bally’s Corp. already sounds desperate, throwing a Hail Mary pass in the form of a report that rival bidders Rush Street Gaming and … Continue reading
Posted in Bally, Chicago, Donald Trump, Galaxy Entertainment, Hard Rock International, Indiana, Japan, Lake Tahoe, Las Vegas Sands, Law enforcement, Macau, Massachusetts, MGM Resorts International, Real Estate, Regulation, Resort fees, Rhode Island, Rush Street Gaming, Tribal, TV, Wynn Resorts
2 Comments
Don’t make mine Manhattan
That’s the word from key legislators, who have made it clear that Gov. Andrew Cuomo (D) would be putting a casino in Manhattan over their dead bodies. “I believe it would be seriously detrimental to the residential and commercial quality … Continue reading
Posted in Arizona, Atlantic City, Bally, BetMGM, Cosmopolitan, Entertainment, FanDuel, Genting, Georgia, Illinois, Las Vegas Sands, Marijuana, MGM Resorts International, Mohegan Sun, Nevada, New York, Politics, Regulation, Resort fees, Resorts World LV, Slot routes, Sports, Sports betting, Transportation, Wynn Resorts
2 Comments
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
MGM hits paydirt; Palms sold?; Atlantic City underwhelms
Remember the Harmon Hotel? That Sir Norman Foster-designed tower that had to be amputated at half the intended height in 2008 because of incompetent construction? The only Las Vegas resort ever to be dismantled without having hosted a single guest? … Continue reading
Posted in Atlantic City, Boyd Gaming, Caesars Entertainment, Card rooms, Carl Icahn, Charity, Churchill Downs, CityCenter, Cosmopolitan, CQ Holdings, Detroit, Dining, Diversity, DraftKings, Entertainment, Florida, Full House Resorts, Golden Nugget, Hard Rock International, Health, Louisiana, LVCVA, MGM Resorts International, Michigan, Nevada, Ocean Resort, Palms, Penn National, Real Estate, Resort fees, Rush Street Gaming, Seminole Tribe, Sports, Sports betting, Station Casinos, Taxes, The Strip, Tribal, Wall Street, Washington State
1 Comment
Sports bets a hit in Virginia; Vegas recovery an iffy prospect
Online sports betting was quick out of the gate in Virginia—$59 million in handle in 11 days—although books spent so much money acquiring customers that they took a loss on the month. “Debuting ahead of the NFL’s conference championship games … Continue reading
Posted in Atlantic City, Bally, Caesars Entertainment, Canada, Conventions, DraftKings, Economy, FanDuel, Health, history, IGT, Internet gambling, Las Vegas Sands, Lotteries, LVCVA, Marketing, Maryland, MGM Resorts International, Michigan, Resort fees, Rhode Island, Rush Street Gaming, Scientific Games, Sports betting, Tennessee, The Strip, Tourism, Transportation, United Kingdom, Virgin Hotels, Virginia, Wall Street, William Hill, Wynn Resorts
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Boyd better than expected; Marching through Georgia
Boyd Gaming leaked January data, what Wall Street calls “offered an encouraging commentary,” to help put an upbeat spin on its 4Q20 numbers. It worked like a charm. JP Morgan analyst Joseph Greff moved his price target up $8 to … Continue reading
Posted in Alabama, Boulder Strip, Boyd Gaming, Cretins, Downtown, Economy, Entertainment, FanDuel, Florida, Foxwoods, Georgia, Hawaii, Health, Illinois, Lotteries, MGM Resorts International, Nevada, Pennsylvania, Politics, Resort fees, South Carolina, Sports, Sports betting, The Strip, Tony Hsieh, Tourism, Virgin Hotels, Wall Street
3 Comments
Trop in trouble; Sands has a plan; Super Bowl to Vegas?
We know that the Tropicana Las Vegas is being positioned for a sale (potentially to Twin River Holdings) but does that alone explain the pink-slipping of 828 employees, a drastic move? Placed in the context of other cutbacks, like the … Continue reading
Caesars: Meet the new bosses; Graham grandstands
VitalVegas got its hands on Caesars Entertainment internal document bearing the grinning visage of COO Anthony Carano. It outlined a restructuring of the company’s top executive ranks into nine divisions headed by an overwhelmingly WASP-y, male cohort. (Soon to become … Continue reading
“Crisis” greed spreads; All that glitters is Golden
When we first heard about a Las Vegas Strip restaurant tacking an “optional” Covid-19 fee onto its diners’ checks we knew that A) this was the beginning of a bad thing and B) it would spread like a virus. So … Continue reading
Posted in Caesars Entertainment, Dining, Economy, Golden Gaming, Health, Indiana, Las Vegas Raiders, Laughlin, Maryland, Resort fees, Slot routes, Taxes, The Strip, Wall Street
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