December put a bit of a chill on the Atlantic City casino economy, down 2% for the month, with an overall gross of $186 million. Over by the fireplace, Internet gambling was nice 
and warm, up 13%. Slot revenues were flat on 1% higher coin-in but casinos took a bit of a hurt at tables, where revenues fell 8% despite 2% more wagering. Overall, Borgata was 1% up, at $58 million, while Golden Nugget handily outpaced the online competition with 29% of market share. For someone who once mulled pulling out of Atlantic City, Tilman Fertitta is certainly cleaning up in it. Volatility was once again the downfall of Caesars Atlantic City, where most of the table-game wipeout probably hit. Winnings plummeted 20% (extreme even for Atlantic City) on a $24 million gross. Harrah’s Resort was flat ($29 million) while the grind-joint strategy is finally paying off at Continue reading
so, it outbid three other (undisclosed) competitors, one of which is believed to have been Sands Bethlehem. Penn’s chosen location is Yoe, in York County. “We are going to be in cross-border competition and hope to penetrate even deeper into Maryland than we have thus far,” said Penn mouthpiece Eric Schippers of Yoe, which is 10 miles from the Free State’s northern border and just off I-83. (Actual penetration of Maryland, at Hollywood Casino Perryville, has been a distinct failure.)
stocking cap — 
electorate. The odd couple has to obtain 766,200 signatures, covering all of Florida‘s 27 congressional districts and they’re getting close. The petition drive has also already survived one legal challenge in the courts. While I can understand Disney’s rationale up to a point — you’ll never see any Marvel– or Star Wars-themed slots — I’m not sure what the Seminoles hope to gain. Should renegade counties vote to authorize blackjack or craps, that runs a cart and horses through the tribe’s compact with the state. Perhaps that is the tribe’s endgame: To get out of its revenue-sharing obligation to the state. At any rate, it is difficult to disagree with attorney Marc Dunbar, who called it “a parade of uncertainty.”
gaming markets, and the M&A environment, was bullish, while LV Strip and Macau color was a bit more mixed.” Corporate and convention bookings on the Strip are flat, with no Con-Agg Expo to juice business this year. Individual travel, though, manifests “weakness … We believe bookings for the [New Year’s Eve] period were down y/y and rates followed suit. That said, we believe the period firmed up meaningfully from what was a very soft booking position in the mid November period.”
law-enforcement priority. Beauregard is flying in the face of a majority of Americans who approve of medicinal marijuana and at least a plurality who have legalized recreational use. Sen. Cory Gardner (R), at least, is sticking up for his Colorado constituents, pushing back fiercely against Beauregard’s crusade. Nevadans have yet to see similar profiles in courage from Sens. Dean Heller (R) and Catherine Cortez Masto (D). In the meantime, the Nevada Gaming Control Board looks downright prescient in decreeing, in no uncertain terms, that casino owners steer a broad course away from the Mary Jane business.
“There is no ambiguity here. This is an underlying principle of our democracy. We cannot stand silent. We will not allow any president to achieve by intimidation what our Constitution precludes him or her from achieving in court. We need to respond strongly for Michael Wolff and his book, but also for all authors and all their books, now and in the future. And as citizens we must demand that President Trump understand and abide by the First Amendment of our Constitution.” — MacMillan Publishers President John Sargent, 
means he’ll pocket a tidy $118 million profit, minus the cost of capex improvements. Not only does Revel have a new owner, it also has a new name: Ocean Resort Casino. The buyer is Colorado mogul Bruce Deifik, who intends to have the property on line by summertime (might we suggest he accelerate the process by hiring a casino-management company?). According to Bloomberg, “Deifik said he planned to add an Asian noodle bar and a high-end players’ club.” (Has he been studying the downfall of Lucky Dragon Casino?)
“paves the way for Lucky Dragon to establish new partnerships that will enhance the property.” That would be all well and good if new partners were stepping forward but none seem to be. VitalVegas author Scott Roeben tells me the Dragon was shopped around for a bargain-basement $90 million and found no takers. He explains, “that $90 million asking is based upon what they need to take care of primary lenders and EB-5 (second tier) investors,” adding, “The only nibble brought a bid for six cents on the dollar. Painful!”
share, grossed $47 million for a 2% dip. By contrast, Horseshoe Baltimore had only 17% of market share, grossing $24 million and plummeting 19.5%. The sole gainer other than MGM was Rocky Gap Casino, where Golden Entertainment juiced business 7% for a $4 million gross. Other small fry were not so lucky. Ocean Downs (pre-table games) plunged 9% to $4 million while Hollywood Perryville slipped 5.5% to $6 million. MGM continues to fortunate in the split of play at National Harbor, which only slightly favors heavily taxed slot play, with low-tax table winnings representing 49% of the tally.
measures. To that end, REIT Vici Properties is mulling a stock offering that aims to drum up $4 billion in cash. Of course, not all of the money will go toward retiring Caesars’ massive debts, incurred during the spendthrift Gary Loveman era. Some of the money would be dedicated to expanding the empire. As it stands, the REIT (ticker symbol VICI) owns 
policy and it’s equally wrong if Uncle Sam starts doing it as public policy. (It’s also a kind of reverse socialism but we won’t get into that.) Nobody should have to eke out a living on $2.13 an hour plus tips but that’s the America in which we live. Fortunately, if you find this proposal as odious as I do, you can 
corporate tax cuts
overall revenue 6% downward. Had it not been for that game, the Strip would have been only 2.5% off last year’s pace. The house was damned unlucky at table games, seeing 17% less win ($210 million), inclusive of baccarat, on flat wagering. Overall, Strip winnings were 6%, helped somewhat by a 5% increase at the slots ($270 million) on 3% more coin-in. The most dramatic gains were out in the sticks, with Elko ($23.5 million) up 12% and Carson Valley ($9 million) gaining 11%.
and low interests has led stock pickers to predict that 
for five years but are finding Donald Trump‘s regime more tractable to it than was Barack Obama‘s. There’s still the question of getting the $400 million project past Gov. Scott Walker (R. pictured) but the Ho-Chunk have an ace up their sleeve in the form of an agreement with the state that permits them to build one more casino at an unspecified location. While we don’t expect the path to be free of controversy, the Ho-Chunk seem to have a winning project in hand.
Times, “its backers say that, while the Pentagon ended funding for the effort at that time, the program remains in existence. For the past five years, they say, officials with the program have continued to investigate episodes brought to them by service members, while also carrying out their other Defense Department duties.” If this sounds like something that would be dreamt up by Vegas tycoon and paranormal enthusiast Robert Bigelow your surmise would be precisely on target.-
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