Category Archives: Sports betting

Illinois agonizes over expansion; Frustration in Connecticut

Posted on May 14, 2019 by David McKee

Always looking for ways to kill the golden goose, Illinois lawmakers are contemplating gambling expansion yet again. Slot route operators are understandably balking at Gov. J.B. Pritzker‘s proposal to raise the current 30% tax rate to a 50/50 split with … Continue reading →

Posted in Architecture, Connecticut, Foxwoods, Illinois, Internet gambling, Las Vegas Sands, Macau, MGM Resorts International, Mohegan Sun, New Jersey, New York, Politics, Resort fees, Slot routes, Sports betting, The Strip, Tribal | Comments Off

Ruffin’s move

Posted on May 14, 2019 by David McKee

Phil Ruffin is in the hunt for Caesars Entertainment … well, sort of. He said he’s interested in individual Las Vegas Strip properties, clearly anticipating some kind of sell-down to deleverage an Eldorado Resorts or Tilman Fertitta acquisition of the … Continue reading →

Posted in AGA, Arkansas, Caesars Entertainment, Eldorado Resorts, Law enforcement, North Carolina, Phil Ruffin, Politics, Sports, Sports betting, Station Casinos, Taxes, The Strip, Tilman Fertitta, Tribal, Westgate LV | 1 Comment

MGM, Adelson tussle for Japan; Wynn pouts over fine

Posted on May 13, 2019 by David McKee

Everybody wants to be in Osaka, now that it’s open for casino development and the Osakanese government strongly covets a casino, one hopefully that would be open in time for the 2025 World Expo. Among the entrants, Las Vegas Sands, … Continue reading →

Posted in Dining, Galaxy Entertainment, Genting, Japan, Las Vegas Sands, Lotteries, Massachusetts, Melco Resorts & Entertainment, MGM Resorts International, Mohegan Sun, Politics, Regulation, Singapore, Sports betting, Transportation, Tribal, Wynn Resorts | Comments Off

Indiana gets it done; Fox puts $$ into sports betting

Posted on May 10, 2019 by David McKee

It’s official. Indiana Gov. Eric Holcomb (R) has affixed his signature to a bill that will expand gambling in the Hoosier State by approving two new casinos and permitting sports betting, expected to take off by September. (All-important mobile betting … Continue reading →

Posted in Caesars Entertainment, Connecticut, Foxwoods, Indiana, Majestic Star, MGM Resorts International, PokerStars, Politics, Spectacle Entertainment, Sports, Sports betting, TV | Comments Off

Macao saves Wynn; Soaked in Missouri

Posted on May 10, 2019 by David McKee

If it were just a question of Las Vegas Strip performance, Wynn Resorts would have very little good news to report. Gross gaming revenue ($166 million) was down 19% in 1Q19, its impact softened by an 11% increase in slot … Continue reading →

Posted in Affinity Gaming, Boyd Gaming, Caesars Entertainment, Connecticut, Eldorado Resorts, Foxwoods, Macau, Massachusetts, Melco Resorts & Entertainment, MGM Resorts International, Missouri, Mohegan Sun, Penn National, Politics, Sports betting, The Strip, Wall Street, Wynn Resorts | Comments Off

Everyone’s happy in Singapore; Adelson involvement probed

Posted on May 9, 2019 by David McKee

While the government in Macao likes to keep casino executives in a state of uncertainty about the future, Singapore is far more sanguine. Between them, Marina Bay Sands and Resorts World Sentosa have committed $6.6 billion to new development. That … Continue reading →

Posted in Genting, Internet gambling, Las Vegas Sands, Law enforcement, Louisiana, New Jersey, Rhode Island, Sheldon Adelson, Singapore, Sports betting, Taxes | Comments Off

Stability in the heartland; The lure of “NashVegas”

Posted on May 9, 2019 by David McKee

Last month’s gaming revenues from Ohio and Illinois were flat year/year. Some would look at that as a bad thing but it shows the states aren’t losing significant play to neighboring states. Ohio casinos grossed $160 million, with MGM Northfield … Continue reading →

Posted in Australia, Boyd Gaming, Caesars Entertainment, Canada, Churchill Downs, Crown Resorts, Dan Gilbert, Dining, Eldorado Resorts, Georgia, GLPI, Illinois, Law enforcement, Macau, MGM Resorts International, Mississippi, Ohio, Penn National, Pennsylvania, Rush Street Gaming, Sports, Sports betting, The Strip, Tourism, Wall Street, Wynn Resorts | Comments Off

Solid month for Maryland; Casino sale aborted

Posted on May 7, 2019 by David McKee

Maryland casino revenues inched up to $145 million last month, led by MGM National Harbor with $61 million and 42% of market share. Maryland Live, no surprise, was second with 33% and $48 million (+2%). Horseshoe Baltimore grossed $20 million … Continue reading →

Posted in Atlantic City, Caesars Entertainment, Churchill Downs, Cordish Co., GLPI, Golden Gaming, Illinois, Internet gambling, Iowa, Lotteries, Macau, Maryland, Melco Resorts & Entertainment, MGM Resorts International, Missouri, Mohegan Sun, Nebraska, Penn National, Politics, Regulation, Sports betting, Tribal, TV, Wall Street, West Virginia | Comments Off

Wynn balks at Beantown penalty

Posted on May 6, 2019 by David McKee

Although it was willing to pay at least $20 million to remain licensed in Nevada, it appears that Wynn Resorts is unwilling to take its $35 million dose of castor oil in Massachusetts. “We are in the process of reviewing … Continue reading →

Posted in Australia, Charity, Cirque du Soleil, Crown Resorts, Downtown, Entertainment, Florida, Illinois, Internet gambling, Macau, Massachusetts, Movies, Pennsylvania, Regulation, Resort fees, Seminole Tribe, Sports betting, The Strip, Tilman Fertitta, Wynn Resorts | Comments Off

Eldorado strong, Penn stronger; Caesars screws you

Posted on May 3, 2019 by David McKee

Were it not for inclement weather, Eldorado Resorts would have exceeded Wall Street’s consensus $172 million cash-flow prediction by $8 million for 1Q19, not come up $5 million short. For instance, Reno (pictured) had snow in 24 of February’s 28 days … Continue reading →

Posted in Arizona, Atlantic City, Caesars Entertainment, Colorado, Cordish Co., Cretins, Culinary Union, Detroit, Dining, Economy, Eldorado Resorts, Florida, Hard Rock International, Illinois, Internet gambling, Iowa, Macau, Massachusetts, MGM Resorts International, Mississippi, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Regulation, Reno, Sports betting, Station Casinos, Tribal, Wall Street, West Virginia, Wynn Resorts | Comments Off

Seminoles to the rescue; Rosenstein’s mess

Posted on April 30, 2019 by David McKee

Florida could move from the “no” into the “yes” column on sports betting. Maybe. A new compact with the Seminole Tribe would incorporate sports betting into the mix of games permitted in the Sunshine State. Gov. Ron DeSantis (R) is keeping … Continue reading →

Posted in Delaware, Economy, Florida, Genting, Horseracing, Law enforcement, Lotteries, New York, Politics, Rush Street Gaming, Seminole Tribe, Sheldon Adelson, Sports betting, Technology | Comments Off

Up and down the Strip; Land of the not-so-rising Sun

Posted on April 30, 2019 by David McKee

As a determination on its suitability in Massachusetts comes down to the wire (and opening date of Encore Boston Harbor is set for June 23), Wynn Resorts is trying to reap some positive karma. It has abandoned its pay-for-parking policy. … Continue reading →

Posted in Caesars Entertainment, Derek Stevens, Downtown, Economy, Entertainment, Japan, Macau, Massachusetts, MGM Resorts International, New Jersey, Resort fees, Sports, Sports betting, The Strip, Wall Street, Wynn Resorts | Comments Off

Boyd, Churchill Downs garner raves; Indiana governor seduced

Posted on April 26, 2019 by David McKee

Boyd Gaming got a good review on Wall Street today, lauded both for slightly surpassing revenue expectations and for moving quickly to deleverage in the wake of the Valley Forge, Belterra and Ameristar acquisitions. Downtown continues to be Boyd’s bastion … Continue reading →

Posted in Ameristar, Boyd Gaming, Caesars Entertainment, California, Charity, Churchill Downs, Current, Derek Stevens, Downtown, Florida, Hawaii, Horseracing, Illinois, Iowa, Kentucky, Louisiana, Maryland, Mississippi, Ohio, Palms, Pennsylvania, Politics, Racinos, Rhode Island, Slot routes, Spectacle Entertainment, Sports betting, Station Casinos, Taxes, Tribal, Wall Street, West Virginia, Westgate LV | 1 Comment

Nevada: Strip weak, locals strong; Busing it to Macao

Posted on April 25, 2019 by David McKee

Las Vegas Strip gambling revenues were down 4% last month to $552 million. Some of that is attributable to an impossible baccarat comparison. In March 2018, baccarat win was up 118%. Last month it was down 56% on 43% less … Continue reading →

Posted in Animals, Architecture, Arkansas, Australia, Boulder Strip, Downtown, Lake Tahoe, Laughlin, Lotteries, Macau, Mesquite, Nevada, New Mexico, North Las Vegas, Reno, South Korea, Sports betting, The Strip, Tourism, Transportation, Tribal | 1 Comment

Case Bets

Posted on April 24, 2019 by David McKee

It’s early yet but the House Finance Committee of the Colorado Lege has overwhelmingly voted through a sports-betting bill. The would-be law has to survive three more votes in the House before moving along to the state Senate. However, it … Continue reading →

Posted in Architecture, Colorado, history, Horseracing, Indiana, Majestic Star, New Jersey, Pennsylvania, PokerStars, Politics, Regulation, Sports, Sports betting, Taxes | Comments Off

Re-enter the Dragon

Posted on April 23, 2019 by David McKee

Yes, the Lucky Dragon will be coming back, albeit under a new name. Construction magnate Don Ahern has made a $36 million purchase of the luckless casino, which still carries another $50 million in debt. (Hence the bargain price.) Ahern … Continue reading →

Posted in Animals, Caesars Entertainment, Derek Stevens, Downtown, Lucky Dragon, MGM Resorts International, Pets, Sports betting, Tamares Group, The Strip, TV | 1 Comment

Land of confusion

Posted on April 22, 2019 by David McKee

OK, so there are no condos on sale at the Plaza Resort in downtown Las Vegas. That much we have established. But it’s got to be one of the most baffling stories we’ve ever covered. For instance, “TLC” usually is shorthand … Continue reading →

Posted in Animals, Caesars Entertainment, Churchill Downs, Golden Gaming, Illinois, Japan, Kentucky, Massachusetts, MGM Resorts International, New Jersey, Penn National, Politics, Racinos, Real Estate, Regulation, Sports betting, Tamares Group, Taxes, Terry Caudill, The Strip, Wall Street | Comments Off

Cosmopolitan on the block (again)

Posted on April 18, 2019 by David McKee

Blackstone Group‘s tenure at The Cosmopolitan of Las Vegas will be remarkably brief (although nothing in the gaming industry will ever match the extreme brevity of the abortive Wynn Resorts/Crown Resorts merger). Bloomberg reports that Blackstone is exploring “strategic options” … Continue reading →

Posted in AGA, Caesars Entertainment, CityCenter, Cosmopolitan, Downtown, history, Las Vegas Sands, Macau, Marketing, Melco Resorts & Entertainment, MGM Resorts International, Politics, Sports betting, Tamares Group, The Strip, TV, Wall Street, Wynn Resorts | Comments Off

Winter is coming … to Pahrump

Posted on April 16, 2019 by David McKee

Last Sunday, Game of Thrones returned with an exposition-heavy season opener. No word yet on whether it dampened business at Nevada brothels but they’ve evidently been taking some inspiration from the A Song of Ice and Fire saga. According to … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Entertainment, Greenwood Racing, New Jersey, Pahrump, Penn National, Pennsylvania, Rush Street Gaming, Sports betting, TV | Comments Off

Caesars: Under the weather; Wynn enters the Internet

Posted on April 16, 2019 by David McKee

Lack of thrift in the executive corridors is hurting Caesars Entertainment‘s stock price. JP Morgan analyst Daniel Politzer just ratcheted his price target down to $12, citing “worse than expected weather/GGR results at CZR’s regional properties and higher than previously … Continue reading →

Posted in Atlantic City, Caesars Entertainment, Colorado, Eldorado Resorts, Environment, Illinois, Internet gambling, Iowa, New York, Reno, Scientific Games, Sports betting, Steve Wynn, The Strip, Tropicana Entertainment, Wall Street, Wynn Resorts | Comments Off