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 almost $58 million gross. While it grossed an eye-popping average of $1.7 million/day upon opening, now it is up to $1.9 million/day. National Harbor, which represented 40% of Free State market share, did it mostly on highly taxed slots ($30 million) instead of low-tax table games ($27.5 million). Maryland Live hung in there with a 3% increase and 32.5% market share, on a gross of $47 million. Even Hollywood Perryville ($7 million) was up 7%. Things look a mite bleak for Horseshoe Baltimore, down 11.5% and clinging to a 15% market share, grossing $22 million. Churchill DownsOcean Park ($5.5 million) continued to be powered by the addition of table games, up 15.5%.

Over in West Virginia, the worst of the bleeding has been stanched. Penn National Gaming‘s Charles Town racino served as a proxy for the entire state, whose numbers it paralleled: 1% down at the slots and 6% off at the tables. The tax picture looked worse for Maryland Live than National Harbor, with slots up 9% and tables dow 7%. MGM, by the way, is doing mind-boggling slot business: $374/slot/day. Only a few casinos in the country, like Penn’s Plainridge Park can rival that.

* Another of those rare exceptions is Hollywood Mahoning Valley in Ohio, where Penn pulls in $339/win/slot/day. Buckeye State casinos and racinos had a bonny month overall, up 5%. Slots made all the difference, as table revenue was down 9%. Of the Penn quartet, Hollywood Columbus grossed $19 million (+3%), while Hollywood Toledo was close behind with $18 million (+2%). Hollywood Dayton surpassed analyst expectations with $9 million (+10) and in Austintown Penn grossed $10.5 million.

Eldorado ResortsScioto Downs also had a robust month, grossing $15.5 million for a 12% increase. Belterra Park‘s numbers ($7 million) continue to creep toward respectability, up 4%. In terms of revenue growth, Dan Gilbert did best at Jack Thistledown, up 11.5% to $11 million. Jack Cleveland slipped 4.5% to just below $17 million, but Jack Cincinnati was up 1.5% to $17.5 million. Far and away the top performer was soon-to-be-MGM Hard Rock Rocksino, grossing $23 million for a 10%. Whoever the new management is, we have simple advice: Don’t mess with success.

* There are few things as frightening in the morning as a New York Times profile of Carrot Top. The Gray Lady delves into his baffling Las Vegas success and finds “a far more ambitious performer than he gets credit for, an innovator in the shameless pursuit of cheap, sometimes questionable, laughs.” His secret weapon: sound design. Concludes the NYT, “If you wanted to do a deep dive into the politics of Carrot Top, there’s plenty to work with. After all, he is an orange-haired buffoon who became famous in the 1980s and remains popular despite being sneered at by the elite media.”

* Sheldon Adelson maintains there is an “insatiable” appetite for hotel rooms in Macao and bookings for upcoming Labour Day weekend bear him out. Sixteen hotels, from Grand Lisboa to Sands Macao are fully occupied, with more surely to come.

* Our “George of the Week” is Sands China, which has committed to converting 30% of its shuttle-bus fleet to compressed natural gas by the end of 2018. “Sustainable operations are at the core of our business philosophy, and utilizing clean energy vehicles is one of the many ways we work to decrease our carbon footprint and lessen our environmental impact,” said Senior Vice President of Resort Operations & Development Mark McWhinnie. Our thanks to Sheldon Adelson for going green.

This entry was 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. Bookmark the permalink.