There’s a battle royal in Indiana between Hard Rock Gary and Horseshoe Hammond. But before we get to that, let it be noted that—despite one less weekend than 2019—casino revenues were up 9.5% to $195 million. The two main combatants were just incrementally apart, with Hard Rock making $31 million versus Horseshoe Hammond’s $30.5 million (-4%). Third-place Ameristar East Chicago was well behind at $18 million, down 2%. The smallness of the declines supports the viewpoint of those who argued that the arrival of Hard Rock would grow business in the northern tier, not dilute it. Only Blue Chip (above) suffered, down 15% to $11 million. Indiana Grand racino continued to thrive with $24 million, up 3%, while Harrah’s Hoosier Downs galloped 11.5% faster to $20 million.
In the southern tier, Bally’s Evansville was flat at $12.5 million despite the new branding, while Caesars Southern Indiana remained a player favorite, grossing $18 million for a 6.5% gain. Belterra Resort slipped 7% to $7.5 million and little Rising Star booked $3 million, a 4% dip. French Lick Resort took a drubbing, off 23% to $6 million but Hollywood Lawrenceburg slipped only 2% to $14 million.
Hoosier State sports betting providers made $48 million off of $464 million in handle, higher than October despite the latter’s five weekends. DraftKings dominated handle with 39%, followed by FanDuel‘s 26%, and BetMGM‘s 11% and Caesars Sportsbook‘s 10.5%. In terms of revenue, DraftKings booked $12.5 million, but FanDuel again played smarter ($15.5 million). The also-rans were BetMGM ($4.5 million), Caesars ($3 million) and BetRivers ($1 million), with neither Barstool Sports nor PointsBet quite cracking the million-dollar threshold. The only book to lose money was Betway. Hollywood Lawrenceburg was far and away the most popular casino for placing an in-person bet ($13 million), dwarfing Ameristar East Chicago ($6 million), Indiana Grand ($5 million), Hoosier Park ($5 million) and Horseshoe Hammond ($4 million). Of course that would change drastically once Ohio legalizes sports betting, more “when” than “if.”
Gains in Missouri were slightly more modest, up 5% over 2019 to $152 million. Ameristar St. Charles led all comes with $24 million for a 14% gain, while Penn National Gaming prospered at River City ($20 million, +1.5%) but not Hollywood St. Louis ($19 million, -7%). Lumiere Place rounded out the St. Louis market with $12 million, a 2% dip. Over in Kansas City, the Bally’s Corp. rebrand is working sensationally well at Bally’s Kansas City, skyrocketing 77% to $9.5 million (hey, you gotta start somewhere). Ameristar Kansas City and Argosy Riverside both shed business to Bally’s, coming in at $16 million/-3% and $13.5 million/-3% respectively. Harrah’s North Kansas City picked up some of their business too, rising 4% to $15 million. Out in the boonies, Isle of Capri Boonville ($7 million) was the top grosser, up 7%, while Century Cape Girardeau grew 11% to $6 million and Century Caruthersville climbed 15% to $4 million.
It seems that Barstool Sports isn’t the only toxic workplace inflicting collateral damage on the gaming industry. Topgolf has come under fire for an alleged corporate stew of “the typical bro-culture so prevalent in the restaurant industry.” In particular, Topgolf Las Vegas, a leading amenity of MGM Grand, is singled out for opprobrium. According to activist group WearUltraviolet.org, “In another case pending against Topgolf this year, Ciara Williams, an Indigenous woman and pastry cook who began working at Topgolf Las Vegas in 2016 was sexually assaulted in the walk-in freezer by her manager … a high-performing chef who was popular with upper management. This assault occurred only months after another woman, Elba Servin, reported to Topgolf’s Human Resources that he had raped her and was now threatening her with deportation.” That’s just one of 12 cases pending against Topgolf. MGM might want to have a friendly word with them about not sullying the lion’s corporate image.
Quote of the Day: “There’s plenty of opportunity for a profitable casino in Chicago, but developers aren’t going to invest the money it takes to build what [Mayor Lori] Lightfoot says she wants: an internationally renowned destination property. It’s going to be a local casino, with locals who patronize it.”—investment guru Frank Fantini, on the difficult financial dynamics of a Windy City casino.
I used to think Topgolf was good for the game I love, it introduces people to golf, drunken golf yes, but at a time when the game is dying it maybe slightly increased participation… The pandemic actually grew golf, it’s a game played entirely outdoors, safe from Covid. Female participation in golf has exploded, and I love it, there are legit scholarships for girls available, college and high school. Topgolf is a big loud drinking game, they are taking over what used to be a nine hole course in El Segundo California, many of the local players are in remorse. At least this corporation owes it’s employee’s a safe working environment, if people want a driving range to be a social event, have at it, you are only as good as your practice habits in golf, the rest of us will be working on our shortcomings, not showing off…