Massachusetts’ mixed message; Much ado about Circa

Market share went to Encore (61%) against MGM’s 25% and Plainridge’s 14%. The latter grossed $10 million (-14%), on 12% less coin-in. MGM grossed $17.5 million, slipping 11.5%. Slot revenue was down 5% even though handle was only 1% off. Tables won $3.5 million, a 30% tumble. MGM means very well and appears to have designed a premier facility but it just can’t quite crack the Springfield-area market.

Staying in the Boston area, chalk up another big win for Beantown’s DraftKings. It has inked a pact to be the exclusive sportsbook and daily fantasy sports provider across Turner Sports and Bleacher Report. Explains Credit Suisse analyst Ben Chaiken, “In this agreement, DKNG will be given access to Turner Sport’s [sic] Bleacher Report, MLB, PGA, and ELeauge content, but not their NBA content. We think this means DKNG will be able to provide sports betting information, DFS content, as well as link out opportunities on Turner TV shows like “MLB on TBS” as well on Bleacher Report, a leading sports new site, whose distribution channels include their online platform, mobile app, and live streaming service B/R live.” We’d like to know more about the NBA carve-out but meanwhile DraftKings perversely trended downward on the news, part of a larger Wall Street malaise.

Not quite so momentously, also-ran Betsperts closed a second round of fundraising, according to CEO Reid Rooney. Maybe we’re ignorant but this is the first time we’ve heard of Betsperts, which may say something of how far back in the pack it is. DraftKings doesn’t even view it as a rival, citing its networking application to say it could be “becoming the LinkedIn of sports betting.” Putting their money behind Betsperts are a variety of European and domestic private equity funds. Given all the noise being made by name-brand sports-betting platforms, we’d say Betsperts is a long-term investment at best.

Derek Stevens has done a masterful job of managing PR up to the Oct. 28 debut of Circa, dropping a carefully time press release every few days. The latest discloses the opening of two stores from the Marshall Retail Group, named Fuel and Circa Collections. The latter is just off Stadium Swim and is basically a big-ass souvenir shop. “Notable brands available will include BOSS, Free People, Under Armour, Billabong, Herschel, Dolcessa, Amoressa, Kitsch and Scout,” boasts Circa. Fuel will be convenient to Garage Mahal and is a glorified snack shop. Pardon us for being less than overwhelmed, although Downtown could certainly use some decent retail.

Stevens also got some unwanted publicity on Vegas Message Board about security and screening policies at The D which sound lax, to put it mildly. A customer reported, “The [sic] have maskless security guards posted at the entrance. People are lined up to enter crammed together with no social distancing. The guards as [sic] to scan the front and back of your driver license. The next stage of security is a metal detector … Sorry, not going through your gauntlet manned by maskless employees. Thought people interested in staying there would like to know the procedure every time they enter the casino. Didn’t bother attempting to enter Golden Gate. Had no issues or concerns with either entering or enforcement of social distancing at any other venue.” Better get right on it, Derek.

Ex-Sen. Harry Reid and former Deputy Assistant Secretary of Defense for Intelligence Christopher Mellon made some headlines today when they asserted that the U.S. government has hard evidence on UFOs that the guvmint is keeping top-hush. “Nobody has to agree why it’s there. But shouldn’t we at least be spending some money to study all these phenomena? Shouldn’t we study this stuff? The answer is yes. That’s all this was about,” said Reid. Do we believe in extraterrestrials? Not until we see one. Do we believe that there are unidentified, unexplained phenomena in our skies? Yes, and we’d like to see further exploration of the issue. It’s called science.