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Category Archives: Sports betting
BetMGM saves company’s bacon; Whither the Palms?
Seesawing between the effects of closures and capacity restrictions, Detroit casinos were down 28% last month. They grossed $87 million, led by MGM Grand Detroit with $34 million (-32%). Breathing down MGM’s neck is MotorCity‘s $33 million haul (-21%), while … Continue reading
Posted in California, Card rooms, Colorado, Conventions, Cordish Co., Detroit, Dining, Economy, Health, Internet gambling, Las Vegas Sands, Macau, Marketing, MGM Resorts International, Michigan, Palms, Penn National, Pennsylvania, Sports betting, Station Casinos, Tennessee, The Strip, Tourism, Wall Street
2 Comments
Station sitting pretty; Missouri booms; All bets off at MGM
Despite fourth quarter revenues that were 28% off the pace ($122 million) in Las Vegas, analysts on Wall Street are liking Station Casinos these days. Native American management fees in 4Q20 were up 21% ($25.5 million) for one thing. JP … Continue reading
Normality in Ohio, disaster in Illinois; Planet Ho sale mooted
Maybe the ‘skinny stimulus’ helped Ohio. Gross gaming revenues of $153.5 million were only 8.5% off last year’s pace. The gambling houses are still operating at 50% capacity and under a curfew but the number remains impressive. Hollywood Toledo continues … Continue reading
Posted in Alabama, Bally, Boyd Gaming, Churchill Downs, Colorado, Dan Gilbert, Detroit, Dining, DraftKings, Economy, Georgia, Hard Rock International, history, Illinois, Jack Entertainment, Las Vegas Sands, Louisiana, Macau, Marketing, Maryland, Massachusetts, Mattress Mack, MGM Resorts International, North Carolina, Ohio, Penn National, Planet Hollywood, South Dakota, Sports betting, Texas, The Strip, Transportation, TV, Virginia, Wall Street, Wynn Resorts
1 Comment
Bailout for Tilman; Casinos to the Big Apple; Mega-Jottings
It was a $6.6 billion rescue package that Golden Nugget CEO Tilman Fertitta received, in the form of a merger with FAST Acquisition. Fertitta’s been hard up for cash and forks over a portion of his casino empire in return … Continue reading
Posted in Architecture, Atlantic City, Caesars Entertainment, Colorado, Dining, Economy, Entertainment, Florida, Full House Resorts, Golden Nugget, Hard Rock International, Internet gambling, Las Vegas Sands, Law enforcement, Marketing, Minnesota, Mississippi, Nebraska, New York, North Carolina, Racinos, Real Estate, Regulation, Sports betting, Tamares Group, The Strip, Tilman Fertitta, Tribal, TV, Wall Street
Comments Off on Bailout for Tilman; Casinos to the Big Apple; Mega-Jottings
Case Bets
More than 23 million Americans are expected to bet legally or otherwise on the Super Bowl, according to the American Gaming Association, which predicts $4.3 billion in handle. 7.5 million punters will be doing their wagering online, 63% more than … Continue reading
Posted in AGA, Bally, Caesars Entertainment, Cordish Co., DFS, Diversity, DraftKings, Economy, FanDuel, history, Illinois, International, Las Vegas Sands, Macau, MGM Resorts International, Pennsylvania, PointsBet, Problem gambling, Real Estate, Rush Street Gaming, Sports, Sports betting, Steve Wynn, The Strip
3 Comments
Las Vegas recovery: A definite maybe; Woe at Sands
First, the bad news. Las Vegas emerged from a December that was just plain awful, as discretionary income continues to dry up. Las Vegas Strip win plummeted 51% to $292 million. Statewide, gambling revenue toppled 35.5% for $684 million, an … Continue reading
Posted in AGA, Alex Yemenidjian, Arizona, Boulder Strip, Caesars Entertainment, California, China, Conventions, Derek Stevens, Downtown, Economy, Health, Internet gambling, Japan, Lake Tahoe, Las Vegas Sands, Laughlin, LVCVA, Macau, Melco Resorts & Entertainment, Mesquite, Mohegan Sun, New York, North Las Vegas, Reno, Sheldon Adelson, Singapore, South Korea, Sports betting, Texas, The Strip, Tilman Fertitta, Tourism, Wall Street, Wendover, Wynn Resorts
3 Comments
Quote of the Day
“If you have this amenity and there’s sports betting at the card rooms, you might add 250 jobs and the secondary effect of those jobs. We have over 2,200 employees in the state. They’re great-paying jobs with an average salary … Continue reading
Posted in Card rooms, Economy, Maverick Gaming, Sports betting, Washington State
1 Comment
Profile in cowardice; Sheldon Adelson’s ghost
We were sure this was a story from The Onion or the Babylon Bee but, no, it’s really a thing. Rodney Baker has resigned as CEO of Great Canadian Gaming Corp. after bringing disgrace upon it with a vaccination caper … Continue reading
Posted in Architecture, Boulder Strip, Boyd Gaming, Caesars Entertainment, Canada, Churchill Downs, Cretins, Culinary Union, DraftKings, FanDuel, Health, Illinois, Indiana, Law enforcement, MGM Resorts International, PointsBet, Politics, Regulation, Sheldon Adelson, Sports, Sports betting, Tennessee, Tribal, Wall Street, William Hill, Wynn Resorts
2 Comments
Life after Adelson; Super Bowl odds revealed
Taking a business-as-usual approach, Las Vegas Sands reported 4Q20 earnings and JP Morgan analyst Joseph Greff wasn’t blown away, writing that “we, like most investors, see the quarter and any outlook commentary offering little in the way of positive developments … Continue reading
Adelson rolling in grave; Police blotter
It’s a good thing Sheldon Adelson didn’t live to see this. The First Circuit Court of Appeals quashed a 2019 reinterpretation of the Federal Wire Act by the Justice Department, one that broadly applied it to Internet gambling. The federal … Continue reading
Posted in Cosmopolitan, Donald Trump, Economy, Hard Rock International, Harry Reid, Health, Indiana, Internet gambling, Las Vegas Sands, Law enforcement, Michigan, Nevada, New Hampshire, New York, PointsBet, Politics, Regulation, Sheldon Adelson, Spectacle Entertainment, Sports betting, Taxes
1 Comment
Massachusetts hit hard; NFL playoffs a tossup
Between Covid-19 capacity restrictions (33%) and statewide curfews (9:30 p.m., when the night owls are just getting rolling), Massachusetts casinos were between a rock and a hard place last month, with revenues falling 40% to a meager $50 million. If … Continue reading
Wynn, loopy attorney in legal feud; Philly goes Live
Steve Wynn is back in the news again. His former attorney, L. Lin Wood, is suing Wynn for alleged defamation, the ex-casino mogul supposedly having told Donald Trump that Wood was several fries short of a Happy Meal. The falling … Continue reading