Missouri becalmed; Scientific smackdown

One less weekend day was costly to Missouri casinos in July, when their revenue declined 2% to $150.5 million. The Kansas City market had the worst of it, off nearly 4%. Slot revenues ($128.5 million) were down 2% and table games ($22 million) fell 4%. Don’t tell that to Ameristar Kansas City, which was up 8%, to $17.5 million. Harrah’s Kansas City had a terrible month, plunging 12% to $15 million. Argosy Riverside slid 5.5% to $13.5 million while Isle of Capri Kansas City was 6.5% underwater, grossing $6 million.

In the St. Louis market, Ameristar St. Charles ceded 1.5%, grossing $23.5 million. Pinnacle Entertainment‘s other property, River City, didn’t strike it rich either, down 1% to $19.5 million. Hollywood St. Louis did worse still, falling 5% to $20 million. Star performer of the area was Tropicana Entertainment‘s Lumiere Place, jumping 7% to $13.5 million. Except for St. Jo Frontier (up 8.5%), all outlying casinos were negative, with Isle of Capri Cape Girardeau (-8.5%, $5 million) having the worst of it. I’m not sure why Eldorado Resorts wanted the Isle brand but that’s why the Caranos get paid the big bucks.

* Much to the undoubted chagrin of Elaine Wynn, former Wynn Resorts corporate counsel Kim Sinatra is sailing away on a $1.8 million golden parachute. “Such payment reflects all unpaid base salary through December 31, 2018, projected 2018 bonus compensation, and unpaid but accrued vacation pay,” said a company SEC filing. As for that ongoing unpleasantness in Massachusetts, Sinatra has assented to “cooperate with the company and regulatory authorities regarding any outstanding matters.” Meanwhile, successor Ellen Whittemore will be paid $600K annually and is eligible for an equal amount of bonus compensation. If she gets Wynn Resorts out of the pickle it’s in she’ll have earned that extra cash.

* Scientific Games is not going quietly in an antitrust case that could lighten its wallet by $315 million plus court costs. U.S. District Judge Matthew Kennelly tripled the damages awarded to four small gaming firms who were thwarted by invalid patents filed by Scientific. According to Las Vegas Review-Journal reporter Richard Velotta, “The court order says Scientific, doing business as Shuffle Master, SHFL Entertainment and Bally Gaming — all companies Scientific has absorbed in acquisitions — must pay Shuffle Tech International LLC $135 million, Poydras-Talrick Holdings LLC $75 million, Aces Up Gaming $45 million, and Shuffle Tech as an assignee of DigiDeal Corp $60 million.”

* If you’ve never seen the rotating sign that used to mark the Silver Slipper Casino you’re not too late: The Neon Museum has, after careful study, restored it to its original color scheme, including the blue insole. Perhaps the slipper’s greatest claim to fame was to inspire noted paranoiac Howard Hughes to fear that it concealed a cameraman who snapped pictures of the billionaire from inside the rotating shoe.

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