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Category Archives: Tropicana Entertainment
Breaking bad at the Trop; More trouble for Wynn Resorts
Business was afire — literally — at the Tropicana Atlantic City after a meth lab in one of the hotel rooms caused a blaze and led to the evacuation of four floors. This wasn’t how owner Carl Icahn wanted to make … Continue reading
Louisiana stutters; MLB rigs the odds
Gambling in Louisiana was a bit off the pace last month, down 4% ($187 million). Most of that was due to a terrible Baton Rouge market, tumbling 21%, while Lake Charles (+2%) remained immune. New Orleans (-2%) and Shreveport/Bossier City … Continue reading
Cold January in Atlantic City, Pennsylvania; Bull runs rampant in Vegas
Just when everything seemed settled into a comfortable groove in Atlantic City, January revenues fell off the table, down 12.5%. The silver lining, if it qualifies as that, was that online revenues ($22 million) climbed 17%. Golden Nugget, with 33% … Continue reading
Posted in Animals, Atlantic City, Boyd Gaming, Culinary Union, Current, Dan Gilbert, Detroit, Economy, Eldorado Resorts, Greenwood Racing, Harrah's, Internet gambling, Isle of Capri, MGM Mirage, Mohegan Sun, Neil Bluhm, North Las Vegas, Penn National, Pennsylvania, Pinnacle Entertainment, Sheldon Adelson, Station Casinos, Tilman Fertitta, Tropicana Entertainment
1 Comment
GLPI picks at Wynn; Indiana players stay home
Gaming & Leisure Properties met with Wall Street analysts this week and it had the future of Wynncore on its mind. “While GLPI remains open to doing Las Vegas asset transactions, they view the risk profile as considerably higher given … Continue reading
Posted in Ameristar, Boyd Gaming, Centaur Gaming, Charity, Economy, Eldorado Resorts, Full House Resorts, GLPI, Harrah's, Indiana, Majestic Star, Mandalay Bay Massacre, Massachusetts, MGM Mirage, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, The Strip, Tribal, Tropicana Entertainment, Wall Street, Wynn Resorts
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Adelson: Big is more; MGM misses important deadline
Wall Street analysts expected Las Vegas Sands to post cash flow of $718 million last quarter but it blew through the ‘stop’ sign and checked in with $731 million. Even though recovering from three cracked ribs, CEO Sheldon Adelson had … Continue reading
Posted in Ameristar, Architecture, Cordish Co., Galaxy Entertainment, GLPI, Greenwood Racing, Illinois, Internet gambling, Law enforcement, Macau, Massachusetts, MGM Mirage, Missouri, Penn National, Pennsylvania, Politics, Problem gambling, Regulation, Sheldon Adelson, Steve Wynn, Taxes, Tropicana Entertainment
1 Comment
Bumpy December in Louisiana; Paddock mystery deepens
Louisiana gaming receipts ($227 million) were flat last month, although there were a number of little dramas being played out behind that bland façade. Lake Charles was up 7% and Baton Rouge casinos plunged 17%. L’Auberge du Lac was flat, … Continue reading
Posted in Boyd Gaming, California, Churchill Downs, Eldorado Resorts, GLPI, Harrah's, Isle of Capri, Law enforcement, Louisiana, Mandalay Bay Massacre, Mesquite, Pinnacle Entertainment, Politics, Regulation, Tilman Fertitta, Tribal, Tropicana Entertainment, Unite-Here
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Caesars ruins Atlantic City’s Christmas; Abandon ship
December put a bit of a chill on the Atlantic City casino economy, down 2% for the month, with an overall gross of $186 million. Over by the fireplace, Internet gambling was nice and warm, up 13%. Slot revenues were … Continue reading
Posted in Atlantic City, Dining, Florida, Glenn Straub, Harrah's, Internet gambling, Kazuo Okada, Law enforcement, MGM Mirage, Mohegan Sun, Nevada, Regulation, Revel, Security, The Strip, Tilman Fertitta, Tropicana Entertainment, TV
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State of the Strip; Air Area 51
Deutsche Bank analyst Carlo Santarelli met with a number of casino companies recently and came away with a sanguine prospect for the Las Vegas Strip. As for the operators, “Overall, we felt commentary pertaining to the LV locals market, regional … Continue reading
Posted in Affinity Gaming, Ameristar, Atlantic City, Boyd Gaming, Culinary Union, Economy, Eldorado Resorts, Entertainment, Harrah's, Indiana, International, Isle of Capri, Kentucky, Macau, MGM Mirage, Missouri, Penn National, Pennsylvania, Pinnacle Entertainment, Reno, Sports, The Strip, Tropicana Entertainment, Wall Street
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There’s new life at F-blew; Casinos neglect safety plans
Contrary to some of his early pronouncements about Fontainebleau, new owner Steven Witkoff isn’t sitting on his asset but is pursuing roughly $2 billion of the $3 billion that will be required to finish the eye, er, glittering megaresort. He’s … Continue reading
Posted in Atlantic City, Carl Icahn, Fontainebleau, Genting, Golden Gaming, Indiana, Macau, Mandalay Bay Massacre, Nevada, Palms, Politics, Racinos, Regulation, Reno, Sheldon Adelson, Sports, Station Casinos, Steve Wynn, Steven Witkoff, Taxes, Technology, The Strip, Tribal, Tropicana Entertainment, Wall Street
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‘Tis the season for buying; Putin drives out Ho
Carl Icahn could make another big score soon: Tropicana Entertainment has been cited as a likely takeover candidate by Wall Street analysts. The combination of saturated markets and low interests has led stock pickers to predict that the industry will … Continue reading
Posted in Boyd Gaming, Carl Icahn, Cosmopolitan, Eldorado Resorts, Glenn Straub, Golden Gaming, Greenwood Racing, Harrah's, International, Internet gambling, Lawrence Ho, MGM Mirage, Neil Bluhm, Pennsylvania, Revel, Sheldon Adelson, Taxes, Tilman Fertitta, Tropicana Entertainment, Wall Street
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Rethinking riverboats in Louisiana; Santa hearts Boyd; High and dry
Baton Rouge is one of the markets that hews to the archaic practice of mandating that godless gambling be conducted over water. H2O has remarkable cleansing properties on filthy casino lucre, it seems. At any rate, even though L’Auberge Baton … Continue reading
Posted in Architecture, Boyd Gaming, Churchill Downs, Current, Economy, Eldorado Resorts, GLPI, Greenwood Racing, Internet gambling, Isle of Capri, Louisiana, Macau, Palms, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Regulation, Sheldon Adelson, Sports, Station Casinos, Taxes, Tilman Fertitta, Tropicana Entertainment, Wall Street
1 Comment
Atlantic City: There’s life after Trump; Bluhm dominates in Pennsylvania
Finally liberated from year/year comparisons that included the dying Trump Taj Mahal, casinos in Atlantic City experienced 3% revenue growth last month. Internet gambling did even better, leaping 20%. For the lifetime of ‘Net betting in New Jersey, this brings … Continue reading
Posted in Animals, Atlantic City, Carl Icahn, Delaware, Greenwood Racing, Harrah's, Internet gambling, MGM Mirage, Mohegan Sun, Movies, Neil Bluhm, Nevada, Pennsylvania, PokerStars, Politics, Racinos, Sheldon Adelson, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts
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Indiana, Missouri see happy days; Don’t count on Millennials
It looks like Penn National Gaming is picking a good time to acquire Pinnacle Entertainment, to judge by the healthy performance of the Missouri and Indiana markets (though it must be kicking itself for having missed the loophole that allowed … Continue reading
Posted in Affinity Gaming, Ameristar, Atlantic City, Boyd Gaming, California, Economy, Eldorado Resorts, Florida, Full House Resorts, Harrah's, Illinois, Indiana, Louisiana, Marketing, Maryland, Missouri, North Las Vegas, Penn National, Pinnacle Entertainment, Tourism, Tropicana Entertainment
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A sensible proposal
Under the right circumstances, driving down the Las Vegas Strip (preferably by night) can be a hedonistic experience. Too often, however, it is a bumper-to-bumper nightmare. Something needs to be done and Clark County Commissioner Chris Giunchigliani (D) has stepped … Continue reading
Swings and roundabouts in Louisiana; Sexual harassment in Las Vegas
Now that S&G has been informed that it’s Louisiana that is the Bayou State, let’s take a look at how its casinos did last month. Overall, they dropped 2% for a $198 million gross. The headline item has to be … Continue reading
Posted in Boyd Gaming, Churchill Downs, Harrah's, history, Isle of Capri, Louisiana, New York, Penn National, Pinnacle Entertainment, Racinos, Tilman Fertitta, Tropicana Entertainment, Westgate LV
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Stable in Atlantic City; Saturated in Pennsylvania
Casino business in Atlantic City was flat last month (not bad with one less weekend day), with the surviving casinos grossing $186 million. Internet revenue shot up 23.5% to $20.5 million. Slots were up 1% but tables, where wagering was down … Continue reading
Posted in Atlantic City, Dan Gilbert, Detroit, Eldorado Resorts, Glenn Straub, Greenwood Racing, Harrah's, Internet gambling, Massachusetts, MGM Mirage, Mohegan Sun, Neil Bluhm, Penn National, Pennsylvania, Pinnacle Entertainment, PokerStars, Racinos, Sheldon Adelson, Tilman Fertitta, Tropicana Entertainment
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Bumpy ride in Missouri; Scott vaporized in Maine
Missouri casinos dipped 3% last month (4% in the St. Louis area), a figure that seems bigger than the “unfavorable calendar” excuse covers. Pinnacle Entertainment took a 7.5% haircut at River City ($18 million) while its Ameristar St. Charles was off … Continue reading
Posted in Affinity Gaming, Ameristar, Eldorado Resorts, Election, Harrah's, International, Isle of Capri, Maine, Missouri, Penn National, Pinnacle Entertainment, Politics, Regulation, Sam Nazarian, SLS Las Vegas, Tribal, Tropicana Entertainment, Vietnam
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Case Bets
In an early Christmas present to gaming historians, the Center for Gaming Research at UNLV has unveiled the Harrah’s Entertainment Corporate Archives, focusing on the 1940-2000 period. In other words, it doesn’t just go back to the beginning but before … Continue reading
Posted in GLPI, Harrah's, history, Illinois, Lake Tahoe, Mandalay Bay Massacre, Missouri, Pinnacle Entertainment, Reno, Sports, The Strip, Tropicana Entertainment
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It’s about time; Pols attack Atlantic City
Twelve years after Hurricane Katrina, Midwest and Bible Belt states still require casinos to be built on the water. Exceptions have been made for casinos on Mississippi‘s Gulf Coast and one of Mike Pence‘s latter acts as governor of Indiana … Continue reading
Posted in Architecture, Atlantic City, Election, history, Indiana, Louisiana, Mandalay Bay Massacre, MGM Mirage, New York, Pinnacle Entertainment, Politics, Sports, Tropicana Entertainment
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Warm September for Atlantic City
Things continue to look up for the Boardwalk. Last month, Atlantic City casinos showed a 2.5% revenue increase on a same-store basis. Toss the dead weight of Trump Taj Mahal out of the year/year comparison and the growth is an … Continue reading
Posted in Atlantic City, Dan Gilbert, Detroit, Entertainment, Glenn Straub, Hard Rock International, Harrah's, Internet gambling, Marketing, MGM Mirage, Mohegan Sun, Revel, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts, Wall Street
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