Indian giver; Casinos in India?

We’ve warned against turning the tribal-recognition process over to Congress and a bill singling out a California tribe for special treatment would seem to be an object lesson in the “Why.” Rep. Doug LaMalfa (R) wants to reinstate Ruffey Rancheria, formerly the reservation of the Siskiyou County American Indians, created in 1907, taken away from the landless tribe in 1957. Since LaMalfa’s bill would constitute an end run around the land-into-trust process used by the Bureau of Indian Affairs, especially with regard to approval of gaming, it’s stirring some ire in the Etna area, along with criticism of setting a precedent that would turn the Indian Gaming Regulatory Act on its ear. LaMalfa has already smuggled a land-into-trust bill for the Chumash Indians through the House and into the Senate. (LaMalfa, pictured, bears an unfortunate resemblance to the proverbial used-car salesman.)

Ruffey Rancheria attorney Tahj Gomes tried to strike a bipartisan note before Congress. “For us, Continue reading

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MGM: Time to buy; Arkansas casinos one step closer

As of today, Hard Rock Rocksino, in Ohio, is official part of MGM Growth Properties. However, until MGP finds a new tenant, Hard Rock International will continue to run the place. It’s a win-win for Hard Rock and MGP. For the latter it’s $1 billion well spent.

Regarding MGM Resorts International, stock-picker Joseph Greff at JP Morgan thinks it’s time to buy, despite an “uninspiring” investor presentation, along with “disappointing” Macao revenue. “We would characterize sentiment as bouncing along the bottom here, with expectations also reasonably/incredibly low.” However … “We believe most of the issues that have caused 2018’s underperformance are transitory, and the picture is bright(er) heading into 2019,” thanks to the debut of Park MGM and projected improvement in MGM Cotai numbers, among other factors. “Mandalay Bay also has easy comparisons in 2019 and therefore should experience some growth.” Greff has set a target of Continue reading

Posted in Arkansas, Atlantic City, Dining, Election, Genting, Hard Rock International, history, Las Vegas Sands, Macau, MGM Mirage, Mississippi, Ohio, The Strip, Wall Street | Comments Off on MGM: Time to buy; Arkansas casinos one step closer

Sheldon snuggles up to Commies; Elaine tests her clout

If toupée-collecting Sheldon Adelson were offered the chance to build Venetian Tehran he’d immediately become a peacenik regarding Iran, a country he lusts to nuke. Instead of making nice with mullahs, he’s doing the next best thing, warbling sweet nothings to Kim Jong-un. Citing his service in the Korean War, Adelson called for detente between the two Koreas so that he could get down to “open up business,” preferably in the north. (He can’t build — feasibly — in South Korea because a tourists-only policy makes the cost of investment prohibitive. South Korean casino revenues are small potatoes compared to other markets.) North Korea has been putting out feelers to the U.S. for help in establishing a casino resort in the Wonsan-Kalma region. Hmmmm. Starving native populace … concentration camps … 180th out of 180 on the Heritage Foundation‘s human-rights index? Nope, I can’t see anything wrong with Continue reading

Posted in Caesars Entertainment, Elaine Wynn, Galaxy Entertainment, history, Illinois, International, Las Vegas Sands, Macau, Massachusetts, MGM Mirage, Nevada, Planet Hollywood, Politics, Regulation, Sexual misconduct, Sheldon Adelson, South Korea, Sports, Steve Wynn, The Strip, Unite-Here, Wynn Resorts | Comments Off on Sheldon snuggles up to Commies; Elaine tests her clout

Quote of the Day

“If something happens on Sunday morning, a weather system moves in and the Broncos are going to be playing in 6 inches of snow, the line’s going to move. It would be unrealistic to expect somebody to drive up to Black Hawk or Central City and change that bet that they made a couple of days before.” — Colorado state Rep. Alec Garnett (D), arguing in favor of mobile sports wagering in the state.

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A tale of four states

Illinois‘ casino industry has never recovered from the Great Recession. We’ll never know if it would have done so but the inception of slot routes has basically nipped any recovery in the bud. As such, the Land of Lincoln will have to be content with small gains, such as last month’s 2% uptick in gambling revenues, $116.5 million. Players were spending 5% more but were 3.5% fewer in number. Penn National Gaming-run casinos were flat for the month, with a stagnant performance at Hollywood Aurora ($10 million) to some extent negating a 3% gain at Empress Joliet ($15 million), while Argosy Belle grew business 2.5% for $4 million. Boyd Gaming‘s Par-A-Dice had an unwontedly good month, up 3.5% ($6.5 million). It should be noted that Penn and Boyd have the best of both worlds, since they also own slot routes.

Devouring 31.5% of the state’s market share, Rivers Casino jumped 5% to $37 million. Grand Victoria, however, slumped 9%, to Continue reading

Posted in Affinity Gaming, Ameristar, Boyd Gaming, Caesars Entertainment, Centaur Gaming, Dan Gilbert, Economy, Eldorado Resorts, Full House Resorts, GLPI, Illinois, Indiana, Majestic Star, MGM Mirage, Ohio, Penn National, Pinnacle Entertainment, Racinos, Rush Street Gaming, Slot routes, Tribal, Tropicana Entertainment, Wall Street | Comments Off on A tale of four states

Churchill Downs deal goes south; Robocops at Pechanga

Early yesterday, Churchill Downs and Eldorado Resorts announced that they were deep-sixing the sale of Eldorado’s Lady Luck Vicksburg, although Churchill Downs’ purchase of Presque Isle Downs remains in play. Evidently, Churchill Downs was uncomfortable with Federal Trade Commission inquiries regarding its ownership of Riverwalk Casino, a property adjacent to Lady Luck. According to Deutsche Bank analyst Carlo Santarelli, the switcheroo was “resulting in CHDN choosing instead to acquire [Lady Luck] Nemacolin than spend time/money associated with higher FTC scrutiny.” It’s not a bad outcome for Eldorado, as Nemacolin has been a real lemon but Churchill Downs forfeits access to the Mississippi market just as sports betting is coming on line.

Churchill Downs is out a $5 million termination fee for nixing the Vicksburg deal but only has to pay Continue reading

Posted in Arizona, Caesars Entertainment, California, Churchill Downs, Eldorado Resorts, Environment, Mandalay Bay Massacre, Marijuana, Minnesota, Mississippi, Nevada, Pennsylvania, Regulation, Security, Sports betting, Technology, Tribal, Wall Street, World Series of Poker | Comments Off on Churchill Downs deal goes south; Robocops at Pechanga

Quote of the Day

“Yeah, and Steve Wynn was the only person doing bad things at Wynn Resorts, and he was also the only casino executive in Las Vegas harassing women, and not a single other person knew about anything he was doing except the victims. Deep sigh.” — Scott Roeben, commenting on the circle-the-wagons reaction to the “Divas Las Vegas” scandal.

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I’ve got a historical horse right here, his name is Paul Revere

Damn the laws, full speed ahead: That’s the mentality of Illinois horse tracks as they push for ‘historical racing,’ VLTs where you can bet on the outcome of past races. The Illinois Racing Board voted it through unanimously. “We’re out of time,” wailed board member Robert Schiewe Jr. By contrast, General Counsel Michael Pieczonka warned, “I don’t know how we can draft rules to do something that can’t be legally done. That’s the problem.” After all, despite several attempts, the Illinois Legislature has never approved racinos. Fuck that, said one board member, in effect. “It could immediately result in some extra revenue,” remarked Thomas McCauley. Proponents of historical racing are prepared to argue that it’s simply another form of parimutuel wagering.

But, the Chicago Tribune recounts, “members of an anti-gambling group called Stop Predatory Gambling reported that when they saw historical horse racing in Kentucky, bettors typically didn’t even Continue reading

Posted in Atlantic City, Bruce Deifik, Florida, Hard Rock International, Horseracing, Illinois, Indiana, Internet gambling, Kentucky, Law enforcement, Massachusetts, MGM Mirage, Politics, Racinos, Slot routes | Comments Off on I’ve got a historical horse right here, his name is Paul Revere

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 million — yes, almost $2 million a day — for an 18% gain. Slot revenue averaged $344 in win/slot/day and tables had an average win of $5,323 per day. High-taxed slots contributed $30 million, low-taxed tables $29 million. Close behind at $48 million, Maryland Live shot up 15%, with $34 million from slots and $14.5 million from tables. (You can see why MGM’s business plan emphasizes maximizing table revenue.)

In distant third place was Horseshoe Baltimore. The ‘Shoe grossed $23 million, a Continue reading

Posted in California, Cordish Co., Culinary Union, Golden Gaming, Harrah's, Maryland, MGM Mirage, Penn National, The Strip, Tribal, West Virginia | Comments Off on Big business in Maryland; Pricey New York-New York goof

Quote of the Day

“Men never do evil so completely and cheerfully as when they do it from religious conviction.” — Blaise Pascal

Posted in history | 1 Comment

Caesars gets swatted; Remembering Rappaport

While the Caesars Entertainment takeover of Centaur Gaming is still expected to go through, it won’t be without some pain for Caesars. The Roman Empire has agreed to pay a $1 million for improperly attempting to influence Hoosier State regulators or having “violated public trust and confidence in the integrity of Indiana’s casino industry.” Caesars essentially tried to shake down regulators by threatening to cancel a $90 million expansion project at Horseshoe Southern Indiana unless a $50 million property transfer fee was waived. Why? Because they’re Caesars, they’re big and they don’t have to play by the same rules as everyone else. It’s as though Gary Loveman never left.

Caesars’ improprieties also extended to strong-arming members of the Legislature over the issue. The denouement was Continue reading

Posted in Ameristar, Boyd Gaming, Centaur Gaming, Foxwoods, Geoff Freeman, Harrah's, Indiana, Penn National, Pinnacle Entertainment, Regulation | Comments Off on Caesars gets swatted; Remembering Rappaport

Atlantic City, the morning after; On the dole in Delaware

Even as it celebrates its debut in Atlantic City, Hard Rock International is pining for the New York City area, especially since it has an exclusive contract to operate a casino at Meadowlands. In a display of rather poor taste, Hard Rock CEO Jim Allen used Hard Rock Atlantic City‘s opening to tell reporters that “every study projects a casino at the Meadowlands would do well.” This hardly squares with Allen’s opening-day rhetoric that “We believe in Atlantic City. We believe in the state of New Jersey. And we truly believe that Atlantic City’s best days are in front of it.”

Over at Ocean Resort, owner Bruce Deifik is going all-in on sports betting. The casino boasts a 7,500-square-foot sports and race book, with the obligatory Continue reading

Posted in Ameristar, Atlantic City, Bruce Deifik, Delaware, Galaxy Entertainment, Hard Rock International, Indiana, Macau, New York, Penn National, Pinnacle Entertainment, Racinos, Sports, Taxes, Wall Street | 1 Comment

The name of the game; New look at Palms

We don’t cover lotteries much but Pennsylvania‘s has fought the state’s casino industry to a draw. The latter would like to see iLottery (powered by Scientific Games) immobilized, viewing it as a threat to online casino gambling. The Department of Revenue split the baby by forbidding iLottery from advertising its games as “slot style” or “casino style.” Revenue Secretary C. Daniel Hassell conceded that this method of advertising was erroneous. Casino attorney Mark Stewart, unmollified, wants Pennsylvania to suspend iLottery and “work collaboratively with the gaming industry to develop a lawful iLottery program.” The casinos are also irked that Continue reading

Posted in Architecture, CityCenter, Dining, Internet gambling, Marketing, Movies, Palms, Pennsylvania, Problem gambling, Station Casinos | Comments Off on The name of the game; New look at Palms

Quote of the Day

“By hating Hitler and trying to fight back, Jews are only increasing the severity of his policies against them. If Jews throughout the world try to instill into the mind of Hitler and his supporters recognition of the ideals for which the race stands, and if Jews appeal to the German sense of justice and the German national conscience, I am sure the problem will be solved more effectively and earlier than otherwise.” — Bryn Mawr Prof. Henry J. Cadbury, urging German Jews to make nice with Adolf Hitler, in a 1934 speech to a group of rabbis.

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Vegas’ tourism slump halts; Do the Time Warp

Las Vegas city fathers need to stop frowning on Electronic Daisy Carnival and embrace it. EDC saved their bacon in May, stopping a prolonged slide in Vegas visitation, which bottomed out and made the slightest of upward bounces. While occupied room nights were up a mere 0.5%, room rates on the Strip rose 7% and revenue per room ($130) was also up 7%. Room rates averaged $144/night. Thus Sin City was able to ride out a month when all-important convention traffic was down 5%. Gaming revenue on the Strip was also up a disproportionate 6%, to $581.5 million. Statewide, the increase was 5%, with the final tally safely above the $1 billion mark.

So what went right (besides EDC)? One word: Continue reading

Posted in Arizona, Boulder Strip, Downtown, Entertainment, Florida, Lake Tahoe, Laughlin, Mandalay Bay Massacre, Mesquite, MGM Mirage, Nevada, North Las Vegas, Reno, The Strip, Tourism | Comments Off on Vegas’ tourism slump halts; Do the Time Warp

Happy Fourth of July

We’re still a free country so celebrate it while you can. The depression following Spike‘s death affected my ability to compose S&G unduly and was compounded by a trip to Philadelphia to help edit a book (plus do odd jobs for Casino Life and “Question of the Day”). I have not been able to convince family members to visit any of the four — soon to be five — Philadelphia casinos with me and Atlantic City appears totally out of the question, although I’m told there’s a cheap train to the city by the sea. If luck permits, I’ll file in-person reports on Hard Rock Atlantic City and Ocean Resort but I can make no promises.

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Quote of the Day

“The gambling known as business looks with austere disfavor on the business known as gambling.” — Ambrose Bierce

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Spike 2002-2018

“Until one has loved an animal a part of one’s soul remains unawakened.” — Anatole France

Part of Jennifer’s and my soul was unawakened until we adopted Spike last Nov. 25. He was discovered through an online ad in the Augusta Chronicle. Jenny fell in love with his face and when I read “He is sad at the shelter,” my heart just broke. Spike made a seamless transition into our three-cat household and enjoyed his new role as alpha male of the group. (He also gave Continue reading

Posted in Animals, Current, Pets | 3 Comments

Penn outperforms in Massachusetts; Horse sense in Indiana

Penn National Gaming had a happy surprise for the Massachusetts Gaming Commission when the latter dropped by Plainridge Park for a look-see. The racino, which the Boston Globe long tried to paint as a failure, has just come off its best quarter ever.  It grossed $42 million, of which almost $21 million went to the state. Plainridge’s revenues improved 9% from 1Q17. As a cherry on the sundae, Penn reported a 19% increase in lottery-ticket sales. “So far, knock on wood, it’s looking pretty good with very little negative impact,” remarked MGC Chairman Stephen Crosby of the three-year-old racino. (W0w, time sure flies.)

Plainridge Park seems to be having no untoward effects on Plainville. While there was a momentary spike in Continue reading

Posted in Boyd Gaming, Centaur Gaming, Downtown, Economy, Eldorado Resorts, Entertainment, Harrah's, Horseracing, Indiana, International, Japan, Law enforcement, Louisiana, Marijuana, Marketing, Massachusetts, Mississippi, Penn National, Pennsylvania, Pinnacle Entertainment, Planet Hollywood, Regulation, Singapore, Taxes, The Strip, Tourism, Wall Street | Comments Off on Penn outperforms in Massachusetts; Horse sense in Indiana

Quote of the Day

“The risks for Sheldon Anderson’s [sic] Sands casinos are quite high. It is quite possible that China will target his casinos specifically because he is a [Donald] Trump crony. It is possible they will ratchet up police surveillance of his Macao properties in order to spread fear among high rollers and even middle-class gamblers that they are being checked in on by the authorities. Or they will launch an audit of their books. Either way, a move could be viewed as having plausible deniability that the government cloaks as a crackdown on corruption or tax evasion, as they did against Lotte in China’s battle with South Korea.” — China Market Research Managing Director Shaun Rein on possible, casino-targeted blowback from the current trade war between the U.S. and China.

Posted in Donald Trump, International, Macau, Sheldon Adelson, South Korea | Comments Off on Quote of the Day