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Category Archives: Tropicana Entertainment
Louisiana: Robbing Peter to play Paul; New disclosures from Genting
Were it not for the Golden Nugget Lake Charles, gaming revenues would have stumbled 7.5% downward last month. Add Tilman Fertitta‘s new showplace, which grossed $20 million, and you have a 15% increase in the Lake Charles market. But, as … Continue reading
No misery in Missouri; Packer’s Vegas venture in question
November was a tranquil month for Missouri casinos, exemplified by Penn National Gaming‘s Argosy Riverside, in Kansas City, dead even with last year. Statewide, foot traffic was down 5% and spending up 6%, particularly at table games, where winnings rose … Continue reading
Indiana: Visiting less, spending more
That’s the verdict of Deutsche Bank analyst Carlo Santarelli, who reports that foot traffic at Indiana casinos was 11% down last month, implying a 7% spending increase. If free play is counted, casino revenues fell 5%, with the southern tier … Continue reading
Atlantic City casinos make less, profit more
In a paradoxical development, Atlantic City casinos reported a 61% increase in profitability in Q315. That largesse came even as gross gaming revenues only rose 5%. Cost-containment is credited with being the source of the bounty. Caesars Interactive swung from … Continue reading
Posted in Atlantic City, Boyd Gaming, Carl Icahn, Dan Gilbert, Economy, Election, Glenn Straub, Harrah's, Indiana, International, Internet gambling, Massachusetts, MGM Mirage, Mohegan Sun, Ohio, Politics, Revel, Sheldon Adelson, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts
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Autumn chill in Atlantic City; Christmas present for VictoryLand
For the first time in over a year, there are no casino closings to be factored into Atlantic City‘s gaming revenue, no more same-store comparisons. So how did the Boardwalk fare? Even with an extra weekend day, revenue dipped 3%. … Continue reading
Fantastic month for Atlantic City; Gural gets his wish
As the window for apples-to-oranges comparisons of Atlantic City casino revenue closes, so does the gap between same-store and outright gross-gaming revenues. In September, casinos were up 10% on a same-store basis (i.e., excluding the four closed ones from the … Continue reading
Posted in Atlantic City, Boyd Gaming, Election, Harrah's, Internet gambling, Massachusetts, MGM Mirage, Mohegan Sun, New York, Penn National, PokerStars, Regulation, Rhode Island, Tilman Fertitta, Tourism, Tropicana Entertainment, Trump Entertainment Resorts
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Wrist-slaps in New Jersey; China tries to sever chains
First, the good news. New Jersey‘s geolocation and age-verification technology is catching underage gamblers. The bad news is that wannabe adolescent Phil Iveys are getting onto casino Internet sites and wagering. So are self-excluded players. The New Jersey Division of Gaming … Continue reading
Posted in Atlantic City, Australia, Boyd Gaming, International, Internet gambling, Maryland, Mississippi, Mohegan Sun, Philippines, Regulation, Sheldon Adelson, South Korea, Tropicana Entertainment
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MGM lashes out; Doldrums in Louisiana
It took a while but MGM Resorts International is pushing back against Connecticut‘s attempts to build a satellite version of its tribal casinos, to interdict gamblers who might otherwise play at MGM Grand Springfield. Although he didn’t hint at litigation … Continue reading
First the good news …
Internet gambling revenues were up 16% in Atlantic City last month, for a $12 million haul. Resorts Atlantic City didn’t get much of the action — 6% — but the other four online operators divvied it up pretty equitably. As … Continue reading
Posted in Atlantic City, Boyd Gaming, Carl Icahn, Glenn Straub, Harrah's, history, Internet gambling, MGM Mirage, Mohegan Sun, Revel, Sports, Tilman Fertitta, Tribal, Tropicana Entertainment, Trump Entertainment Resorts
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That wild and crazy Glenn Straub strikes again
Now that wacky Glenn Straub is out of the picture, Stockton University says it is fielding offers for the ex-Showboat. What anybody can do other than run it as a hotel (Caesars Entertainment having removed its gaming entitlement but forgotten … Continue reading
Posted in Atlantic City, Boyd Gaming, Glenn Straub, GLPI, Harrah's, history, Iowa, Isle of Capri, Missouri, Penn National, Pinnacle Entertainment, Revel, Tilman Fertitta, Tourism, Tropicana Entertainment, Trump Entertainment Resorts, Unite-Here, Warner Gaming
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Disappointment in Illinois; Wynn’s new crib
One less weekend day doesn’t wholly explain the tepid results from Illinois in August. Harrah’s Joliet was down a dramatic 14%, while Hollywood Aurora was off 10% and Empress Joliet slipped 3%. Even seemingly invulnerable Rivers Casino in Des Plaines … Continue reading
Posted in Boyd Gaming, Dining, Economy, GLPI, Harrah's, Illinois, MGM Mirage, Penn National, Pinnacle Entertainment, The Strip, Tropicana Entertainment, Wall Street
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Turmoil along the Boardwalk
Cult figure Glenn Straub is back in the news again, if indirectly. Stockton University has received Superior Court Judge Julio Mendez‘s blessing to sell the former Showboat and Mendez has enjoined the obstreperous Straub from challenging the sale. Stockton is thereby … Continue reading
Packer plays musical chairs; Atlantic City … the rest of the story
A 41% dive in Crown Resorts prompted James Packer to resign his chairmanship of the company, handing his portfolio to Deutsche Bank veteran Robert Rankin. The change appears to be more cosmetic than substantive, seeing as the brawling billionaire will … Continue reading
Web wagers boost Atlantic City
It was more of the same for Atlantic City last month. Overall gambling revenue slid 9.5%, even as surviving operators experienced individual increases. The headline item is that Internet gaming grew 23%, bringing in almost $12 million. Borgata dominated that … Continue reading
Posted in Arizona, Atlantic City, Boyd Gaming, Harrah's, Internet gambling, Mohegan Sun, Revel, Tilman Fertitta, Tourism, Tropicana Entertainment, Trump Entertainment Resorts
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Atlantic City fights back; Packer a good bet again
After seemingly being in shock from the stampede to put casinos in northern New Jersey, civic leaders of Atlantic City are starting to put up a fight. The terms of battle vary, with some dead-set against a breaking of … Continue reading
Posted in Atlantic City, Economy, Hard Rock International, Internet gambling, James Packer, Macau, MGM Mirage, Mississippi, New York, Politics, Sheldon Adelson, Tropicana Entertainment
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Mixed news from Atlantic City; More silliness from Trump
Atlantic City continued its paradoxical ways last month. The market as a whole suffered another big decline, down 10%. However, for individual operators, May was mostly good, with a same-store gain of 4%. (To see the blended impact of Internet … Continue reading
Steady in Indiana
Gaming revenues were flat in Indiana last month, especially in the south, and this is a good thing. Why? Because it means that the Hoosier State is absorbing the impact of competition from Ohio. Operators can also, thanks to Gov. … Continue reading
Posted in Ameristar, Boyd Gaming, Dan Lee, Harrah's, Indiana, Ohio, Penn National, Pinnacle Entertainment, Racinos, Tribal, Tropicana Entertainment
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Louisiana’s bonny April; Nevada Gold now with 100% more Nevada
Golden Nugget Lake Charles continues to be the outboard engine that speeds up Louisiana gaming revenues. The Pelican State was up 4% last month — but 13% when Tilman Fertitta‘s casino is added to the tally. It even made inroads … Continue reading
Posted in Boyd Gaming, Churchill Downs, Genting, GLPI, Harrah's, Isle of Capri, Louisiana, Macau, MGM Mirage, Pinnacle Entertainment, Racinos, Slot routes, South Dakota, South Korea, Stanley Ho, Tilman Fertitta, Tropicana Entertainment
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April is the cruelest month for Atlantic City
Not only did players put dramatically less money onto the tables and into the slots but Atlantic City casinos had a run of bad luck last month. All of these factors contributed to a 17% decline. When the four closed … Continue reading
Hooters sold (again); Fat lady sings for Opera House
If someone with deep pockets wants to gamble on a big recovery on the Las Vegas Strip, then Spectrum Group Management would like to have a chat with them. Spectrum holds title to optimistically slugged “Project Jackpot,” just north of … Continue reading