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Category Archives: Technology
Atlantic City looking good; Murren calls it quits
An extra weekend day helped nudge Atlantic City casinos up 8% last month, for a $192 million gross. Tables were relatively sluggish (+1%) but slots were hot (+11%). Borgata gained 8.5% on the strength of 4.5% more table win—despite 3% … Continue reading
Posted in Atlantic City, Caesars Entertainment, China, CityCenter, Conventions, Detroit, Eldorado Resorts, Hard Rock International, Health, Internet gambling, Japan, Maryland, Massachusetts, MGM Resorts International, Mississippi, Mohegan Sun, Morris Bailey, Nevada, New Jersey, New York, Ocean Resort, Ohio, Sports, Sports betting, Technology, The Strip, Tilman Fertitta, Wall Street
3 Comments
DFS dealt major setback; Mills is grist
Daily fantasy sports was dealt a major setback when a New York State court ruled it unlawful. It was deemed that the Lege had exceeded its remit by classifying DFS as a game of skill, not of chance. New York … Continue reading
Posted in Affinity Gaming, Churchill Downs, Connecticut, Crown Resorts, Detroit, DFS, Diversity, DraftKings, FanDuel, Foxwoods, International, Las Vegas Sands, Lotteries, Maine, Melco Resorts & Entertainment, MGM Resorts International, Mohegan Sun, Nevada, New Hampshire, New Jersey, New York, Penn National, Politics, Problem gambling, Regulation, Sports betting, Technology
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Penn looking good; From the police blotter
Penn National Gaming reported 4Q19 revenues that aligned with Wall Street projections, with cash flow modestly higher than expected “on a combination of better operations and lower than forecast corporate expenses.” JP Morgan analyst Joseph Greff said that Penn was … Continue reading
Posted in Century Casinos, Colorado, Cretins, Derek Stevens, Florida, Horseracing, Iowa, Law enforcement, Money laundering, Penn National, Pennsylvania, Politics, Regulation, Slot routes, Sports betting, Technology, The Strip, Virginia, Wall Street
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MGM, Cordish boom in Maryland; Here come the robots
Turns out the Maryland market hasn’t quite been saturated, after all. January saw 6% growth in gambling revenue, led by MGM National Harbor‘s $58.5 million (+4%). Slots at MGM were up 10% but table win down 2%. MGM had 40% … Continue reading
Posted in Caesars Entertainment, China, Churchill Downs, Cordish Co., Entertainment, Golden Gaming, Japan, Maryland, MGM Resorts International, Movies, Ohio, Penn National, Planet Hollywood, Technology, The Strip, West Virginia
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Penn/Barstool deal a home run; Blatstein lightens Showboat ship
Shares of Penn National Gaming jumped 12% on news of its 36% acquisition of Barstool Sports. Penn plans to unroll a Barstool-branded line of sports books, online applications and mobile-wagering services. Barstool, in turn, will promote Penn until 2060 … … Continue reading
Posted in AGA, Atlantic City, Caesars Entertainment, Derek Stevens, Downtown, Fontainebleau, Golden Gaming, Hard Rock Hotel, Japan, Las Vegas Sands, LVCVA, Massachusetts, Maverick Gaming, MGM Resorts International, Palms, Penn National, Problem gambling, Regulation, Resorts World LV, Sports betting, Station Casinos, Steven Witkoff, Technology, The Strip, Tribal, Wall Street, Washington State, Wynn Resorts
1 Comment
Penn pulls up a Barstool; Fear and trembling in Macao
As expected, Penn National Gaming bought a significant position in Barstool Sports, investing $135 million cash, $28 million PENN shares, and getting 36% of the two board seats and 36% of the company. The remainder is split between Chernin Group … Continue reading
Posted in China, Derek Stevens, Dining, Donald Trump, Economy, Macau, Movies, Nevada, Penn National, Problem gambling, Reno, Rhode Island, Sports betting, Technology, Wall Street
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Chinese New Year in ruins; LV Locals casinos hacked
Coronavirus is spreading like wildfire. Not only has it cropped up in Beijing, Hong Kong (uh-oh) and Shanghai, cases are being reported in Taiwan, Thailand, France, Japan, South Korea, Australia, and our own United States. China President Xi Jinping has taken … Continue reading
Posted in Atlantic City, China, Colorado, Derek Stevens, Downtown, DraftKings, Health, International, Las Vegas Raiders, Macau, MGM Resorts International, New Jersey, Politics, Sports, Sports betting, Station Casinos, Technology, The Strip, Tilman Fertitta, Twin River
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Macao prepares for the worst
Even as coronavirus tiptoed into Macao, casino executives from three companies were bullish on 2020. Their confidence was buoyed by the change of course of one of China‘s biggest economic headwinds, its trade war with the U.S. Some are arguing … Continue reading
Posted in Donald Trump, Health, Las Vegas Sands, Macau, MGM Resorts International, Sociedade de Jogos de Macau, Technology, The Strip
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Resort fees look ominously permanent; Goodbye, Hard Rock Hotel
Las Vegas is “a market notorious for some of the highest resort fees anywhere.” So writes Hotelsmag.com’s Juliana Shallcross. Big Gaming needn’t be too worried: The Hotel Advertising Transparency Act of 2019 has gone absolutely nowhere in the supposedly liberal House … Continue reading
New gambling ban in Britain; Casinos face uncertain Georgia future
Great Britain continues to crack down on gambling. As of April 14, Britons will no longer be able to bet with their credit cards. (Lottery tickets are exempted from the fatwa.) This comes on the heels of a reduction in the … Continue reading
Atlantic City power play fails
Organizers of a petition drive to eliminate the position of mayor in Atlantic City thought they had 3,000-plus valid signatures. They had 699. Many of the others were illegible, ineligible or had been collected by notaries not in good standing. … Continue reading
Posted in Atlantic City, New Jersey, Politics, Technology, Unite-Here
3 Comments
Card-room smackdown; CES not high on weed
What happens when a casino doesn’t have enough cash on hand to cover all the chips on the floor? If you’re California card room Magnolia House Casino, in Rancho Cordova, you get shut down by the state. The card room … Continue reading
Posted in California, Conventions, Marijuana, MGM Resorts International, Regulation, Scott Butera, Sports betting, Technology, Transportation
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Maryland maxed out; Adelson’s $40 million lesson
Casino revenues in the Free State continue to be flat. Maryland gambling houses grossed $149 million last month. MGM National Harbor‘s $62.5 million—a 4.5% gain—led the state. Slots were down 2% at MGM but table win up 12%, a development … Continue reading
Posted in Caesars Entertainment, Churchill Downs, Cordish Co., Downtown, Environment, Golden Gaming, Harry Reid, Las Vegas Sands, Law enforcement, Maryland, MGM Resorts International, Penn National, Sheldon Adelson, Technology, Terry Caudill
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Brandes’ big bet; Skill-based slots catching on
“We think it’s time for Florida to take it out of the shadows and into the sunshine,” said state Sen. Jeff Brandes (R). He was speaking of sports betting which, like daily fantasy sports, is currently illegal in the Sunshine … Continue reading
Trop sold (we think); Angels in the casino
After fielding multiple offers for the Tropicana Las Vegas, one has been accepted by Penn National Gaming and negotiations are underway. All this comes by way of Scott Roeben‘s VitalVegas, which pegs the sale price at $700 million, making a tiny … Continue reading
Posted in Atlantic City, Conventions, DraftKings, Laughlin, M Resort, Maine, Massachusetts, Movies, New Hampshire, Penn National, Politics, Sports, Sports betting, Technology, The Strip
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Damp November in Nevada; Dirty dealings in Illinois
Could the good times be coming to an end for Las Vegas? The Strip was down 3% last month but, worse still, locals revenue was off by 4%. The prior-year comparison was difficult (+6.5%) but not impossible, while December looks … Continue reading
New angle on sports betting; Slot-route throw down in Missouri
Look out FanDuel and DraftKings: Here comes Tradesports. It’s a new wrinkle on U.S. sports wagering: a betting exchange. Say the New England Patriots are playing against the Kansas City Chiefs and you’ve got money on the Pats. Theoretically, you can … Continue reading
Posted in Canada, Derek Stevens, Downtown, International, Macau, Missouri, Mohegan Sun, Regulation, Slot routes, Sports betting, Technology, Wall Street, Wynn Resorts
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Small thinking big in Oklahoma; Smoke gets in their lungs
In Oklahoma, Council of Public Affairs President Jonathan Small went to the mat for Gov. Kevin Stitt (R), backing Stitt’s demand for higher—much higher—exclusivity fees. To his credit, Stitt has put sports betting on the table as an incentive. Small … Continue reading
Posted in California, Connecticut, Environment, Florida, Hard Rock International, Las Vegas Sands, Nevada, Oklahoma, Palms, Problem gambling, Sports betting, Taxes, Technology, Tribal, Virginia
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Scientific fluent in Chinese; William Hill seeks new horizons
It’s not just for China anymore. Scientific Games is reporting success with its Chinese-themed slots, including in North America. Yes, games with titles like Jin Ji Bao Xi, which doesn’t exactly roll off the tongue but is gaining traction with slot players worldwide. “If … Continue reading
Posted in Cantor Gaming, China, Economy, Environment, Florida, International, Internet gambling, Japan, Macau, MGM Resorts International, Movies, Nevada, North Carolina, Pennsylvania, Philippines, Regulation, Scientific Games, Sexual misconduct, Sports, Sports betting, Technology, The Strip, Tourism, Tribal, Virginia, William Hill
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What if they gave a casino and nobody came?
That’s what’s happening in Chicago, where nobody—and I mean nobody—is showing any interest in a new casino license. Gee, do you think it could have something to do with the 72% tax rate which effectively ensures that a Windy City … Continue reading
Posted in Alex Meruelo, Illinois, Macau, Politics, Sahara, Sam Nazarian, Scientific Games, Security, Taxes, Technology
2 Comments