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Category Archives: Tropicana Entertainment
National Harbor boffo for MGM; Icahn keeps them guessing
In its first month, MGM National Harbor has been both good and bad for Maryland. Although the MGM Resorts International property, acclaimed by some as being Las Vegas Strip-caliber, did blockbuster numbers, the rest of the Maryland casino industry was … Continue reading
Macao: Big brother is watching; Quandary in Indiana
Just as it looked that Macao was beginning to climb out of one government-created crisis, along comes another. According to a report in the South China Morning Post, the central government was cutting the maximum withdrawal amount from UnionPay ATMs … Continue reading
Posted in Ameristar, Boyd Gaming, Full House Resorts, GLPI, Harrah's, Indiana, Macau, Majestic Star, Penn National, Pinnacle Entertainment, Racinos, Regulation, Sheldon Adelson, Singapore, Tropicana Entertainment, Wall Street
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All right in Atlantic City; Trump: The Asia connection
Columnist Steve Ruddock recently took a deep dive into Atlantic City and found the water to be just fine, thank you. He didn’t just mean his hotel room at Resorts Atlantic City, which he deemed cleaner and better-maintained than many … Continue reading
New stumbling block for Caesars; ‘Net betting powers New Jersey
Just when it looked like Caesars Entertainment was out of the woods in its bankruptcy reorganization the federal trustee intervened with an objection. At issue are the releases from litigation that Caesars wrested from creditors as part of the price … Continue reading
Posted in Arizona, Atlantic City, Donald Trump, Harrah's, Internet gambling, Massachusetts, Penn National, Pennsylvania, PokerStars, Regulation, Sheldon Adelson, Tribal, Tropicana Entertainment
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Atlantic City: Golden Nugget now tops; MGM’s holy rollers
There’s a new leader in Atlantic City‘s Internet-gambling arena. Not PokerStars over at Resorts Digital. They’re still in last place. No, grabbing 24.5% of market share, Golden Nugget now heads the pack. Borgata has 22%, Caesars Interactive holds 18% and … Continue reading
Posted in Atlantic City, Carl Icahn, Harrah's, Internet gambling, Massachusetts, MGM Mirage, Mohegan Sun, Neil Bluhm, Pennsylvania, PokerStars, Taxes, Tilman Fertitta, Tropicana Entertainment, Wall Street
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Mixed bag in Indiana; Don’t mess with Massachusetts
One less weekend day in October helped depress casino revenues in Indiana, down 3%. However, individual property results were all over the place, making generalizations perilous. For instance, Majestic Star II in Gary was down 9%, to $5 million, but … Continue reading
Posted in Ameristar, Boyd Gaming, Election, Full House Resorts, Harrah's, Indiana, Law enforcement, Lawrence Ho, Macau, Majestic Star, Marketing, Massachusetts, Melco Crown Entertainment, Penn National, Pinnacle Entertainment, Racinos, Steve Wynn, Tropicana Entertainment
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Straub makes some odd choices; Tiverton still up for grabs
Glenn Straub won one round, lost another in his quest to revive Revel as Ten. On Oct. 18, he received a certificate of occupancy, paving the way for him to reopen the property. (Last spring’s effort was a Chinese fire … Continue reading
Posted in Affinity Gaming, Ameristar, Atlantic City, Election, Glenn Straub, GLPI, Hard Rock International, Isle of Capri, Kansas, Massachusetts, Missouri, Penn National, Pinnacle Entertainment, Regulation, Revel, Rhode Island, Tropicana Entertainment, Trump Entertainment Resorts
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Mixed signals from Atlantic City
Despite having an extra weekend day last month, casino receipts in Atlantic City were down 3.5%, largely driven by the Trump Taj Mahal. (Subtract the Taj from the equation and you’d have a flat year/year comparison.) Table game revenues were … Continue reading
Taj Mahal: Soon with 100% less Trump?; Sands jams up players
While the last vestiges of Donald Trump‘s ownership of Trump Taj Mahal were liquidated when Carl Icahn took over, it retained the name and continued to buy Trump Water. (The taste of douchebaggery?) What concerns politicians in Trenton is the prospect … Continue reading
Posted in Affinity Gaming, Architecture, Atlantic City, Carl Icahn, Charity, Cirque du Soleil, Donald Trump, Downtown, Entertainment, Harrah's, International, Politics, Sheldon Adelson, The Strip, Tilman Fertitta, Tropicana Entertainment
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Indiana does well, Missouri does better
Foot traffic at Indiana casinos was down last month but players wagered more freely, 4.5% up from last year, leading to an almost 2% increase in casino revenues. Penn National Gaming was right in line with overall state performance and … Continue reading
Posted in Boyd Gaming, Entertainment, Full House Resorts, Golden Gaming, Harrah's, Indiana, Isle of Capri, Majestic Star, Missouri, Penn National, Pinnacle Entertainment, Racinos, The Strip, Tropicana Entertainment
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Trump Taj Mahal: End of an era; Wynn joins Atlanta pursuit
“It’s like saying goodbye to an old friend for the final time. I worked here and lived here, it was my whole life and now it’s closing. It’s all been taken away. My whole body is shaking.” So said longtime Trump … Continue reading
New obstacle for Icahn; Macao’s loss is Packer’s gain
Could Carl Icahn‘s real plan for Trump Taj Mahal be to close it on Oct. 10, then reopen it as a scab property? Not if state Sen. James Whelan (D) has anything to say about it. He’s advancing a bill … Continue reading
Revel becomes Ten; Bluhm enters Atlantic City market
As we enter the waning months of 2016, Glenn Straub has decided to wait until next year to reopen Revel. He also announced its long-awaited new name: Ten (actually it’s “TEN” but we don’t go for that all-caps tomfoolery at … Continue reading
Analysts not sold yet on Macao recovery; Soggy month for Louisiana
They came, they saw, they were unconvinced. “The re-affirmation that mass is improving was pronounced,” reported Deutsche Bank analyst Carlo Santarelli, adding that projections were all over the place. “We get the sense that expectations remain low with respect to … Continue reading
Posted in Australia, Boyd Gaming, Churchill Downs, Economy, Eldorado Resorts, Galaxy Entertainment, GLPI, Harrah's, Isle of Capri, Louisiana, Macau, Massachusetts, Melco Crown Entertainment, MGM Mirage, Penn National, Pinnacle Entertainment, Racinos, Sheldon Adelson, South Korea, Steve Wynn, Tilman Fertitta, Tropicana Entertainment, Wall Street
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Atlantic City: Some win, most lose
Just when things were looking up, August casino revenues in Atlantic City fell 7%. Some consolation was to be derived from a 32% increase in Internet revenue, up to $16 million. Slot revenue of $167 million was down 5% on … Continue reading
Posted in Atlantic City, Carl Icahn, Harrah's, Internet gambling, MGM Mirage, Mohegan Sun, PokerStars, Tilman Fertitta, Tropicana Entertainment
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Shady dealing in Massachusetts; Caesars mediation breaks down
Shadowy casino speculator Eugene McCain is trying to make his coveted Revere slot a fait accompli by having a special election held prior to November in which local voters would express their ‘yea’ or ‘nay’ before statewide voters weigh in … Continue reading
Case Bets: Aria, Atlantic City, etc.
Inside Aria‘s “eye in the sky” … and also probably the last time you’ll see a player in a tuxedo on a Las Vegas casino floor. * After eight long years — and without including Internet revenue — all eight Atlantic … Continue reading
Posted in Atlantic City, CityCenter, Economy, Election, Internet gambling, Macau, MGM Mirage, New York, Oklahoma, Regulation, Technology, The Strip, Tropicana Entertainment
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Icahn intransigent at Taj; Olympic betting a flop; Relief for Caesars
For someone who claims he’s trying to save Trump Taj Mahal, owner Carl Icahn sure acts like he’s hellbent on closing it. A counteroffer from striking Unite-Here that would cost the casino only $1.3 million a year to preserve health … Continue reading
Caesars crashes, burns in Louisiana; DFS takes two steps forward, one back
Despite having an extra weekend day, Louisiana casinos saw revenue fall 7% in July. (JP Morgan analyst Joseph Greff blames flooding for the waterlogged numbers.) Pinnacle Entertainment did the best among major operators, up 4%, while Caesars Entertainment went into the … Continue reading
Posted in Atlantic City, Boyd Gaming, Churchill Downs, Eldorado Resorts, GLPI, Harrah's, Internet gambling, Isle of Capri, Louisiana, Maine, Massachusetts, New York, Pennsylvania, Pinnacle Entertainment, Problem gambling, Sports, Taxes, Technology, The Strip, Tilman Fertitta, Tropicana Entertainment
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MGM goes on the attack; Wynn’s new “masterpiece;” Isle out of Louisiana
This story pretty much writes itself. While MGM Resorts International cowboys up and makes it clear who’s sponsoring the ad — not hiding behind some phony-baloney PAC name like “Citizens for a Stronger Connecticut” — but the commercial is a … Continue reading