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- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
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Category Archives: West Virginia
MGM, Cordish clean up in Maryland; Pennsylvania a cash cow
It was another good month at MGM National Harbor, which grossed almost $2 million per day in November, an above-average take for the pleasure palace. Slots were up 15% (to $31 million) while table games leapt 46%, grossing $26 million. … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Cordish Co., DFS, Economy, Eldorado Resorts, GLPI, Golden Gaming, Illinois, Internet gambling, Japan, Macau, Maryland, MGM Resorts International, New Jersey, Penn National, Pennsylvania, Rush Street Gaming, Sports betting, Taxes, Tourism, Transportation, Wall Street, West Virginia
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Casino comes to Arkansas; Luxury comes at a cost
That was quick. Downstream Development Authority, a branch of the Quapaw Tribe, has been tapped by local officials to develop a casino in Pine Bluff, Arkansas. If you think the decision precipitate, don’t worry: The Quapaw have been doing outreach … Continue reading
Posted in Arkansas, Caesars Entertainment, Connecticut, Economy, Illinois, Internet gambling, Macau, Marketing, MGM Resorts International, New York, Politics, Sports betting, Technology, Tribal, West Virginia
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MGM teams with MLB; Brass Ass gets bigger
MGM Resorts International continues to rack up partnerships with the major sporting leagues, the latest being Major League Baseball. The American Gaming Association‘s Sara Slane was understandably giddy at the news. “Agreements between sports leagues and the gaming industry enable … Continue reading
Promising horizon for Penn; Frissora exiting Caesars
Penn National Gaming came in from 3Q18 below Wall Street‘s expectations but JP Morgan analyst Joseph Greff defends the company, citing high expectations of free cash flow in 2019 (12%) and 2020 (20%), even after capex reinvestments. The addition of … Continue reading
Posted in Atlantic City, Caesars Entertainment, Centaur Gaming, Dan Gilbert, Economy, Illinois, Lucky Dragon, Macau, Marketing, Massachusetts, Mississippi, Ohio, Pennsylvania, Sports betting, Tilman Fertitta, Wall Street, West Virginia
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Indiana fails to impress; Big setback for non-smokers
It’s too soon to say that regional gaming’s economic honeymoon is over but Indiana was down 4% last month, grossing $177.5 million. (It was up 6% this time last year.) Penn National Gaming‘s Hollywood Lawrenceburg took a 15% header, grossing … Continue reading
Posted in Ameristar, Boyd Gaming, Caesars Entertainment, Colony Capital, Eldorado Resorts, Entertainment, Environment, Full House Resorts, G2E, Indiana, Louisiana, Majestic Star, MGM Resorts International, Missouri, Penn National, Pinnacle Entertainment, Technology, Wall Street, West Virginia, Westgate LV
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Maryland & other case bets
Growth in Maryland continued last month, if not at the spectacular rates we’ve seen previously. Gaming revenue rose 7% to $144 million. The leader, of course, was MGM National Harbor, jumping 10% to $54.5 million, which translates to $1.8 million/day. … Continue reading
Posted in Affinity Gaming, Atlantic City, Caesars Entertainment, California, Charity, Churchill Downs, Cordish Co., Florida, Golden Gaming, Macau, Maryland, MGM Resorts International, Mohegan Sun, New York, Penn National, Rush Street Gaming, Sports, Technology, Tribal, West Virginia
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Titanic exhibit in peril; It’s Greek to them
Luxor‘s display of Titanic relics has hit an iceberg in the form of a bankruptcy court auction against owner Premier Exhibitions. It’s likely the collection will be kept intact, not dispersed to the four winds, although the latter might be … Continue reading
Posted in Australia, Caesars Entertainment, Downtown, Hard Rock International, history, International, Las Vegas Sands, Marijuana, Melco Resorts & Entertainment, MGM Resorts International, Mohegan Sun, Movies, Penn National, Regulation, Sports betting, Taxes, The Strip, TV, Wall Street, West Virginia
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Good news, big and small
Last year, commercial casino revenues topped $40 billion for the first time ever, maxing out at $40.3 billion. States with casinos will be happy campers, as that windfall meant $9.2 billion in gambling taxes. The revenue surge was 3.5% according … Continue reading
Posted in Economy, Internet gambling, Macau, Maryland, New York, Problem gambling, Tribal, Washington State, West Virginia, Wynn Resorts
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Horseplay in Nebraska; High art in Springfield
It’s early days for the 2020 election but the Ho-Chunk Nation is partnering with The Nebraska Horsemen’s Benevolent & Protective Association on a petition drive to get racinos onto that election-year ballot. As many as six tracks could be affected. One of the, … Continue reading
Posted in Atlantic City, Election, Horseracing, Internet gambling, Massachusetts, MGM Resorts International, Nebraska, Ohio, Penn National, Pennsylvania, Racinos, Rush Street Gaming, Sports betting, Tribal, West Virginia
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“A quarter to forget”
That’s what JP Morgan analyst Joseph Greff had to say about 2Q18, adding, “The 2Q18 earnings reporting period in late July/early August was one of the worst in recent memory for U.S. Gaming as stocks with strong earnings/outlooks saw modest … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Economy, Eldorado Resorts, Environment, MGM Resorts International, Mississippi, Nevada, Penn National, Sports, Sports betting, Station Casinos, Tribal, Wall Street, West Virginia, Wisconsin
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A bright shining turkey
“We didn’t plan to open until March. So this is, literally, found money. We didn’t even budget for it. Wait and see what happens when we get this engine fully running.” That was the excuse made by a Resorts World … Continue reading
Posted in Downtown, Economy, Entertainment, Genting, New York, Penn National, Sports betting, Technology, The Strip, Wall Street, West Virginia
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Wild card; Parx gets one-finger salute
Move over sports books, here comes … Buffalo Wild Wings?!? Yes, the restaurant business known for its trivia games and spicy food wants to get into the sports-betting business. “As the largest sports bar in America, we believe Buffalo Wild Wings … Continue reading
Posted in Atlantic City, Bruce Deifik, DFS, Dining, Economy, Galaxy Entertainment, Greenwood Racing, Hard Rock International, International, Japan, Macau, MGM Mirage, Nevada, Pennsylvania, Société des Bains de Mer, South Korea, Sports betting, Technology, Tourism, West Virginia
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Casino revenues surge (almost) everywhere
Maryland casino business continues to boom, up 5.5% last month. MGM National Harbor led the pack with $58 million. It will, however, be a source of dismay to ownership that play continues to trend toward highly taxed (60%) slots and … Continue reading
Posted in Caesars Entertainment, Churchill Downs, Cordish Co., Dan Gilbert, Eldorado Resorts, Galaxy Entertainment, Golden Gaming, Las Vegas Sands, Lawrence Ho, Macau, Maryland, Melco Resorts & Entertainment, MGM Resorts International, Ohio, Penn National, Pinnacle Entertainment, Racinos, Sheldon Adelson, Sociedade de Jogos de Macau, Taxes, West Virginia, Wynn Resorts
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Big business in Maryland; Pricey New York-New York goof
The gap between the haves and have-nots in Maryland widened last month, as the state’s gaming revenue boomed 14% upward. The good news is that every casino had a revenue-positive month. MGM National Harbor, of course, led the pack, grossing $59 … Continue reading
Posted in California, Cordish Co., Culinary Union, Golden Gaming, Harrah's, Maryland, MGM Mirage, Penn National, The Strip, Tribal, West Virginia
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New Jersey ready for action; Strip club upstages Hard Rock
New Jersey Gov. Phil Murphy (D) still plans to place his first sports wager at Monmouth Park tomorrow but Borgata is trying to crash the party. The megaresort issued a statement saying “we are moving ahead with all possible speed … Continue reading
Posted in Atlantic City, Delaware, Hard Rock International, Illinois, International, Internet gambling, Macau, Massachusetts, MGM Mirage, Mississippi, Nevada, Pennsylvania, Racinos, Sociedade de Jogos de Macau, Sports, Stanley Ho, Taxes, The Strip, Tilman Fertitta, Tourism, West Virginia, Wynn Resorts
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Delaware leads the way; Las Vegas tourism rebounds
A Delaware sports book took 36 bets in its first 20 minutes of operation yesterday, making it the first state outside Nevada to capitalize on the Supreme Court‘s recent legitimization of sports wagering. “In New York, we would go right to the … Continue reading
Posted in Atlantic City, Culinary Union, Delaware, Florida, Hard Rock International, Harrah's, MGM Mirage, Mississippi, Nevada, New York, Pennsylvania, Reno, Seminole Tribe, Sports, Taxes, The Strip, Tourism, Tribal, Wall Street, West Virginia
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Sports betting: Winners and losers; MGM mulls more Strip buys
According to gaming-law expert I. Nelson Rose, the Supreme Court‘s ruling on sports betting goes far, far beyond gambling: “For the first time in American history, the U.S. Supreme Court expressly held that the federal government cannot order states, or … Continue reading
Quote of the Day
“The leagues are a potent force. We’ve seen that in West Virginia, we’ve seen it in Indiana and other markets. It will be important to work with the leagues. I think the leagues can be powerful partners when it comes … Continue reading
Posted in Geoff Freeman, Indiana, Sports, West Virginia
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Sports betting: A new era
Yesterday, the Supreme Court handed down its much anticipated ruling in Murphy v. NCAA and it was pure win for states and casinos itching to offer legalized sports betting, although there was some predictable disapproval. As Arizona Attorney General Mark … Continue reading
Posted in Arizona, Atlantic City, Boyd Gaming, Delaware, DFS, Eldorado Resorts, Election, Geoff Freeman, Harrah's, IGT, Illinois, Law enforcement, Maryland, Massachusetts, MGM Mirage, Mississippi, Nevada, New York, Penn National, Politics, Regulation, Rhode Island, Scientific Games, Sports, Texas, Tilman Fertitta, Tribal, Wall Street, West Virginia
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Ohio good, Maryland better; The mystery of Carrot Top
Last month found the State of Maryland in good health when it came to gaming revenue, up 6%. Most of this was driven — one is tempted to say “of course” — by MGM National Harbor, vaulting 15.5% for an … Continue reading
Posted in Churchill Downs, Cordish Co., Dan Gilbert, Economy, Eldorado Resorts, Entertainment, Environment, GLPI, Hard Rock International, Harrah's, Macau, Maryland, Massachusetts, MGM Mirage, Ohio, Penn National, Pinnacle Entertainment, Racinos, Sheldon Adelson, Sociedade de Jogos de Macau, Taxes, The Strip, Transportation, West Virginia
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