Category Archives: Wall Street

Illinois slouches; Boyd, Churchill praised; DraftKings assessed

Not even Rivers Casino Des Plaines was spared the impact of Hard Rock Rockford, as the newbie helped take a 4.5% bite out of Rivers’ December casino revenues compared to 2019, for a Des Plaines gross of $43 million, still … Continue reading

Posted in Arizona, Bally, Boyd Gaming, Caesars Entertainment, California, Canada, Churchill Downs, Connecticut, Downtown Grand, DraftKings, Election, Florida, Full House Resorts, Hard Rock International, Health, Illinois, Indiana, Internet gambling, Iowa, Isle of Capri, Las Vegas Sands, Louisiana, Maine, Maryland, Mattress Mack, MGM Resorts International, New York, Ohio, Penn National, Regulation, Singapore, Sports, Sports betting, Station Casinos, Taxes, Wall Street | Comments Off on Illinois slouches; Boyd, Churchill praised; DraftKings assessed

Ohio, Missouri booming; Of sports and sports betting

Scarcely had Deutsche Bank analyst Carlo Santarelli projected 12% gaming growth in Ohio over December 2019 than the numbers came in and it was 16%. The $197 million gross showed play heating up from November, too. Slot revenue was up … Continue reading

Posted in Bally, Barstool Sports, Boyd Gaming, Caesars Entertainment, Century Casinos, Churchill Downs, DraftKings, FanDuel, Genting, Hard Rock International, Health, Illinois, Jack Entertainment, Las Vegas Raiders, Massachusetts, Mattress Mack, MGM Resorts International, Missouri, Movies, New York, Ohio, Penn National, Politics, Rush Street Gaming, Sports, Sports betting, Station Casinos, Taxes, Technology, Tribal, TV, Wall Street | 1 Comment

Meet the new National Harbor boss, same as the old boss

Maryland closed out 2021 hot, up 16% from 2019 with a gross of $173 million in December. As usual, MGM National Harbor was in the lead with $74.5 million. Maryland Live booked $62.5 million for a 20.5% gain and 36% … Continue reading

Posted in Alex Meruelo, Arizona, Atlantic City, Boyd Gaming, Caesars Entertainment, California, Churchill Downs, Dining, DraftKings, Economy, FanDuel, Golden Gaming, Health, Idaho, Indiana, Las Vegas Raiders, Louisiana, Macau, Marketing, Maryland, MGM Resorts International, Mississippi, Missouri, Nevada, New Hampshire, New Jersey, New York, Ohio, Oklahoma, Penn National, Pennsylvania, Rush Street Gaming, Sahara, Sports, Sports betting, Taxes, Technology, Tennessee, The Strip, Tourism, Tribal, Wall Street, World Series of Poker | Comments Off on Meet the new National Harbor boss, same as the old boss

Doldrums in Macao; “Love” in jeopardy; Mega-Jottings

There’s an Eeyore sweatshirt that says, “Could be worse. Not sure how, but it could be.” That pretty much sums up the situation in Macao, which finished 2021 44% ahead of 2020 when it comes to gambling revenue … but … Continue reading

Posted in Arizona, Atlantic City, Cirque du Soleil, Colorado, Cordish Co., Economy, Florida, Galaxy Entertainment, GLPI, Health, IGT, International, Lake Tahoe, Las Vegas Raiders, Las Vegas Sands, Laughlin, Law enforcement, Macau, Maryland, Melco Resorts & Entertainment, MGM Resorts International, North Carolina, Politics, Real Estate, Regulation, Sports betting, Taxes, Tribal, Wall Street, Washington State, Wynn Resorts | Comments Off on Doldrums in Macao; “Love” in jeopardy; Mega-Jottings

Why is this man smiling?

Could it be because MGM Resorts International CEO Bill Hornbuckle came justhisclose to being S&G‘s Executive of the Year? Could it be for his vigorous pursuit of diversity within the lion’s house? Might it be for MGM’s very proactive “Convene … Continue reading

Posted in Arizona, Barstool Sports, BetMGM, Caesars Entertainment, Diversity, DraftKings, FanDuel, Health, Mattress Mack, MGM Resorts International, Mississippi, Ohio, Penn National, Pennsylvania, Problem gambling, Real Estate, Regulation, Resort fees, Sports betting, Taxes, Technology, Virginia, Wall Street, Wynn Resorts | 1 Comment

Slot routes seek legitimacy; FanDuel romps in Michigan

Black-market operators of slot routes in Missouri could achieve legitimacy next year—with the help of two out-of-state providers. Illinois‘ leading slot-route purveyors, J&J Ventures and Accel Entertainment, bitter rivals in the Land of Lincoln have put aside their differences to … Continue reading

Posted in Animals, Bally, Barstool Sports, DraftKings, FanDuel, Genting, Hard Rock International, Health, Illinois, Illitch Family, Internet gambling, Las Vegas Sands, MGM Resorts International, Michigan, Missouri, New York, North Carolina, Penn National, PointsBet, Politics, Rush Street Gaming, Slot routes, Sports betting, The Strip, Tribal, Virginia, Wall Street, Wynn Resorts | Comments Off on Slot routes seek legitimacy; FanDuel romps in Michigan

Everybody wins in Massachusetts; Makeover for The Mirage

Massachusetts casinos bagged $88 million last month, a 12% boost over 2019. Encore Boston Harbor, predictably, was way, way out in front with $55 million, up 16.5%. Win was fairly even divided between slots ($30 million) and tables ($25 million), … Continue reading

Posted in Atlantic City, Australia, Cirque du Soleil, Cosmopolitan, Crown Resorts, Downtown, DraftKings, Election, Failsinos, FanDuel, Florida, Hard Rock International, Health, Marketing, Massachusetts, MGM Resorts International, New York, Penn National, Regulation, Seminole Tribe, Sports betting, Station Casinos, The Strip, Wall Street, Wynn Resorts | 1 Comment

MGM enjoys reversal of fate; From the police blotter; Raiders sunk

How the wheel of fortune has turned for MGM Resorts International. Where Macao was once the grand prize among its casino trophies, it is now an albatross around the company’s neck, provoking a guarded outlook from Fitch Ratings. But MGM’s … Continue reading

Posted in Atlantic City, Caesars Entertainment, China, Cordish Co., Cretins, Delaware, GLPI, Health, International, Las Vegas Raiders, Law enforcement, Louisiana, Macau, Maryland, MGM Resorts International, New York, North Las Vegas, Peninsula Pacific, Politics, Real Estate, Sports, Sports betting, Taxes, Texas, The Strip, Tilman Fertitta, Tribal, Unite-Here, Wall Street, Wynn Resorts | Comments Off on MGM enjoys reversal of fate; From the police blotter; Raiders sunk

Playing politics with sports betting … and casinos

Chicago Mayor Lori Lightfoot (D) has really put her foot in it this time. Not only are Windy City aldermen balking at five stadium-area sports books in addition to a billion-dollar casino, fearing cannibalization, but Lightfoot threw gasoline on the … Continue reading

Posted in Atlantic City, Barstool Sports, Boyd Gaming, Caesars Entertainment, Chicago, Churchill Downs, Dan Lee, DraftKings, FanDuel, Full House Resorts, Hard Rock International, Health, Illinois, Jack Entertainment, Marketing, MGM Resorts International, Nevada, New Jersey, New York, Ohio, Penn National, Pennsylvania, PointsBet, Politics, Regulation, Rush Street Gaming, Sports, Sports betting, Taxes, Tribal, TV, Wall Street | 1 Comment

Cordish cashes in; Scare tactics in Atlantic City; Illinois slumps

Succumbing to the siren song of REITmania, Cordish Gaming has sold the real estate of three of its casinos to Gaming & Leisure Properties Inc. for a grand total of $1.8 billion. The affected casinos are Philadelphia Live, Pittsburgh Live … Continue reading

Posted in Atlantic City, Bally, Boyd Gaming, Caesars Entertainment, Chicago, Churchill Downs, Cordish Co., DraftKings, GLPI, Golden Nugget, Hard Rock International, Illinois, Indiana, Louisiana, Maryland, Missouri, Ohio, Penn National, Pennsylvania, Politics, Real Estate, Sports betting, Taxes, The Strip, Wall Street | 2 Comments

Seminoles to feds: “F*** off”; Strip casinos drive down employment

In a big “up yours” to the federal judiciary, the Seminole Tribe—after momentarily pausing—has resumed taking sports bets and is effectively daring the courts to do something about it. If that weren’t nervy enough, the Seminoles have asked Judge Dabney … Continue reading

Posted in Boyd Gaming, Economy, Florida, history, Seminole Tribe, Sexual misconduct, Sports betting, Station Casinos, Steve Wynn, The Strip, Wall Street, Wynn Resorts | 2 Comments

Atlantic City still booming; Churchill Downs wins in Terre Haute

It was another bonanza month for the Boardwalk, as casinos grossed $237.5 million in October, 17% above 2019. Slot win was up 22% on 19% more coin-in and tables won 6% on 9% higher wagering and despite lower hold. Borgata … Continue reading

Posted in Atlantic City, Bally, Barstool Sports, BetMGM, Caesars Entertainment, Churchill Downs, Cordish Co., DraftKings, FanDuel, FoxBet, Full House Resorts, Golden Nugget, Greenwood Racing, Hard Rock International, Indiana, International, MGM Resorts International, Mohegan Sun, Money laundering, Ocean Resort, Penn National, Pennsylvania, PointsBet, Rush Street Gaming, Sports betting, Tribal, Wall Street | 1 Comment

Encore owns Massachusetts; Online slot players hosed

Massachusetts gaming revenue accelerated to $96 million last month, 23% higher than 2019. Encore Boston Harbor vaulted 37% to $63 million—yes, two-thirds of the statewide gross and well above Deutsche Bank‘s forecast of $55 million. Despite Wynn Resorts‘ dominance, Plainridge … Continue reading

Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Cretins, Detroit, Economy, FanDuel, Hard Rock International, Illinois, Iowa, Law enforcement, Massachusetts, MGM Resorts International, Nebraska, Neil Bluhm, New Jersey, North Carolina, Peninsula Pacific, Penn National, Pennsylvania, Racinos, Regulation, Sports, Sports betting, Tribal, TV, Virginia, Wall Street, Wynn Resorts | 1 Comment

Wynn spits out SPAC; Penn slammed; Indiana impresses

Headlines are still being made by Wynn Resorts this week. Shockwaves continue to reverberate from CEO Matt Maddox‘s surprise retirement, nearly one year ahead of schedule. His departure comes at a delicate point in negotiations with Macao (or should we … Continue reading

Posted in Bally, Barstool Sports, BetMGM, Boyd Gaming, Caesars Entertainment, Cordish Co., DraftKings, Drugs, Entertainment, FanDuel, Fontainebleau, Full House Resorts, Golden Gaming, Hard Rock International, Indiana, International, Internet gambling, Macau, Marketing, New York, Penn National, Pennsylvania, PointsBet, Sports betting, Station Casinos, Tribal, TV, Wall Street, Wynn Resorts | 2 Comments

Wynn drops bombshells; Portnoy’s complaint

Wynn Resorts CEO Matt Maddox is leaving the building, effective Jan. 31. This shockeroo, which inspired a banner headline in the Las Vegas Review-Journal, was trundled out just minutes before the 3Q21 earnings call. Maddox will be succeeded by veteran … Continue reading

Posted in AGA, Arizona, Atlantic City, Bally, Barstool Sports, Boyd Gaming, Caesars Entertainment, China, Diversity, Economy, GLPI, Golden Nugget, Hard Rock International, Health, International, Internet gambling, Macau, Marketing, Massachusetts, MGM Resorts International, Missouri, Movies, New York, Ocean Resort, Oklahoma, Penn National, Politics, Sexual misconduct, Sheldon Adelson, Sports betting, Steve Wynn, The Strip, Tourism, Transportation, Tribal, Wall Street, Wynn Resorts | 1 Comment

DraftKings talks big, persuades few; Rancor in Richmond

DraftKings divided analysts with its 3Q21 earnings report. Credit Suisse pundit Ben Chaiken said the company was “moving the ball down the field.” That’s despite revenues of $212 million that well undershot Wall Street‘s expected $238 million, rather like a … Continue reading

Posted in AGA, Arizona, Baseball, Canada, Delaware, Donald Trump, DraftKings, Election, Golden Nugget, Health, history, Internet gambling, James Packer, Louisiana, Marketing, Maryland, New York, North Carolina, Politics, Sheldon Adelson, Sports, Sports betting, Texas, Tribal, TV, Virginia, Wall Street | Comments Off on DraftKings talks big, persuades few; Rancor in Richmond

MGM to sell Mirage; Caesars disappoints Wall Street

At a time when the north Las Vegas Strip is finally heating up, MGM Resorts International has chosen this moment to put The Mirage on the market. Although it’s 32 years old (224 in dog years), The Mirage should fetch … Continue reading

Posted in BetMGM, Boyd Gaming, Conventions, Cosmopolitan, Economy, Election, Hard Rock International, Health, Internet gambling, Jim Murren, Lake Tahoe, Louisiana, Macau, Marketing, MGM Resorts International, New Jersey, New York, Palms, Penn National, Phil Ruffin, Planet Hollywood, San Manuel Band of Mission Indians, Sports betting, The Strip, Vici Properties, Wall Street | 2 Comments

Urban One loses; Station thinks big; NFL gets into the slot biz

Richmond voters narrowly chose to cut off their nose to spite their face, voting 51.5% against the Urban One casino proposal. Since casinos were approved by at least 65% in four other Virginia cities in 2020, the resounding question is … Continue reading

Posted in Aristocrat, Caesars Entertainment, California, Dining, DraftKings, Election, Florida, Hard Rock International, Health, International, Iowa, Las Vegas Raiders, Las Vegas Sands, Law enforcement, MGM Resorts International, Michael Gaughan, Mississippi, New Hampshire, New Jersey, Ohio, Palms, Politics, Real Estate, Resorts World LV, Seminole Tribe, Sports, Sports betting, Station Casinos, Taxes, Technology, Transportation, Tribal, Virginia, Wall Street, Washington State | 6 Comments

Rockin’ hard; Miller gives anti-smokers hope; Packer’s wrist slapped

Hard Rock International CEO Jim Allen (left) is bullish on the New York City market, if not downright aggressive. In maybe the highlight to come out of the East Coast Gaming Congress, Allen asserted his company’s interest in a New … Continue reading

Posted in AGA, Animals, Atlantic City, Australia, Caesars Entertainment, China, Crown Resorts, Election, Genting, Golden Gaming, Greenwood Racing, Hard Rock International, Health, Illinois, Indiana, James Packer, Kentucky, Laughlin, Law enforcement, Lotteries, Maryland, MGM Resorts International, Money laundering, Nevada, New Jersey, New York, Pahrump, Pennsylvania, Politics, Regulation, Scientific Games, Slot routes, Sports betting, Taxes, The Crown 18, Tribal, Wall Street | 1 Comment

Baccarat cools Las Vegas a bit; Boyd sets records; Reno bans whips

Stimulus cash may be petering out somewhat and international tourism has yet to open the floodgates, so September found Nevada on something of a cusp between the supercharged recovery of the summer and the hoped-for travel rebound in 4Q21. Still, … Continue reading

Posted in Atlantic City, Boulder Strip, Boyd Gaming, California, Conventions, Culinary Union, Downtown, FanDuel, Hawaii, Health, Internet gambling, Lake Tahoe, Laughlin, Law enforcement, Louisiana, Marketing, Nevada, New Jersey, North Las Vegas, Pennsylvania, PointsBet, Politics, Reno, Sports betting, The Strip, Tribal, TV, Wall Street | Comments Off on Baccarat cools Las Vegas a bit; Boyd sets records; Reno bans whips