Pennsylvania communities are scrambling to reach voluntary revenue-sharing accords with the casinos they host after the Legislature left the issue in limbo. Rather than address the host-community fee on its own, the House of Representatives tacked on approval of Internet gambling and regulation of daily fantasy sports — a Christmas tree crammed 
through the door at the last minute and irreconcilable with the Senate’s flat-fee solution. Said senatorial lawyer Drew Compton, “We did what we did on gaming — and I think that’s all we plan on doing for the rest of the year.” Efforts were being made in Delaware County (home of Harrah’s Philadelphia) and Pittsburgh (host to Rivers Casino) to sidestep the Lege and reach independent fee arrangements. State Rep. Tommy Tomlinson (R) signaled that an accord was near between Parx Casino and Bucks County, along with the city of Bensalem. Delaware County City Council Chairman Mario Civera cut to crux of the matter, telling the Pittsburgh Post-Gazette, “The city can’t afford to lose even a penny there.”
The House’s impulse to try and force the Internet-gambling issue (as well as add slot routes at six airports) is understandable given Continue reading
winnings. Table gaming wagering was down 9% overall — and yet winnings were 12%, as the house played luckier still — but Strip gaming revenues rose 7.5%, undeterred by 2% less coin-in at the slots but 11% more winnings for the house. Tighter hold didn’t hurt. Since final-weekend slot revenue hasn’t been reported yet (it will be rolled into October) that hurt the locals market, down 6%. The advantage of one extra weekend day was neutralized by having the end of the month fall on a Friday. With a $949 million gross, Nevada gaming revenue was up 4% for the month. Locals slot revenue was 9% down on microscopically higher coin-in, but table revenue was up 5.5% on 10% less money wagered.
point rescue plan through a heavily divided city council. In addition to the sale — already announced — of Bader Field, there will be additional privatizations (payroll, emergency dispatch, garbage, recycling, etc.), cuts in city services, reduction in the city’s workforce and restructuring of benefits packages … But no tax increases. That could be a deal-breaker for Trenton, which wants Atlantic citizens, already hard-hit by taxation, to pay more.
Chinese whales to use front men to place bets on their behalf. Lawyers for two Las Vegas housekeepers said that, with Sands’ knowledge and connivance, their clients were allowed to take out multi-million-dollar lines of credit. They would then place high-stakes bets on behalf of their Chinese string-pullers. Sands said it is cooperating with the probe in a timely fashion, “as we always do.” However, given previous AML troubles at Sands, the picture is forming of a corporation that pushes the envelope of what’s permissible, even to the breaking point. The current investigation would not have occurred had the women in question not been left holding the bag for millions of dollars in casino debts, putting them in Clark County‘s crosshairs. (Gambling debts are unenforceable in China, putting the high rollers out of the district attorney’s reach.)
the acreage. However, Psi Key’s redevelopment plans 
casino (originally slotted for a late-summer opening) into fighting trim. It 
and you’d have a flat year/year comparison.) Table game revenues were down 2% on flat wagering and slot winnings were 4% off, in line with 4% less coin-in. Borgata outperformed the market (big surprise, I know), with 6% more coin-in producing 4% more slot revenue. But Lady Luck wasn’t with MGM Resorts International at the tables, where the house was down 2% despite 8% higher wagering.
Diego. Combine in-progress road construction with a new casino and you had an opening-prescription for gridlock. However, by Tuesday traffic 
prospect that the Taj could reopen with a new name and a non-union workforce. “What I don’t want to see him do is shut it down and then reopen it up and fire all the union workers. It’s called union-busting,“ said state Senate President Stephen Sweeney (D), perceived frontrunner to be the next governor of New Jersey. And, after all, Icahn has yet to surrender the Taj’s casino license to the Division of Gaming Enforcement and is under no time constraint to do so. Casino workers willing to cross a picket line would have a crack at as many as 2,500 jobs in the mammoth casino, if it is reopened. Icahn’s promised $100 million reinvestment would probably be spent on diversifying the property’s appeal beyond gaming, pundits say.
Gaming was right in line with overall state performance and Boyd Gaming outperformed, but Caesars Entertainment and Pinnacle Entertainment underachieved for the month. The latter’s 4.5% gain at Belterra ($9 million) was undone by a weak performance (-7%) at Ameristar East Chicago, which grossed $16.5 million. Ameristar’s difficulties didn’t redound to the benefit of Horseshoe Hammond, which dipped 2.5%, though it grossed a mammoth $32 million. Horseshoe Southern Indiana ($20 million) was also down a bit, -2%.
cites Station Casinos, Boyd Gaming and Penn National Gaming (presumably for M Resort) as good off-Strip investments. “Most people who don’t live in Las Vegas probably don’t realize what a big business the locals market is for gaming companies. In the past 12 months, $2.8 billion has been won by casinos in Clark County that aren’t on the Strip or in downtown Las Vegas. That’s up 5.6% from 2011, which isn’t a lot of growth, but it’s something,” Hoium writes, noting that Station and Boyd are both in the process of enlarging their Vegas Valley presence.
So said longtime Trump Taj Mahal patron Michael Angelo as the casino closed just before 6 a.m. this morning. Owner Carl Icahn gambled that Unite-Here Local 54 would bend to his my-way-or-the-highway ‘negotiation’ style and lost. But Taj workers lost, too, as they now join the thousands of casino workers put out on the streets as the Boardwalk continues its overdue market correction. 
million), its counterparts in Cleveland ($17 million) and at ThistleDown Racino ($10 million) were up 8% and 16%, respectively, last month. Hard Rock Rocksino continued to lead the state with $18 million (up 3%). Statewide gaming revenues were up 4% despite a 2% dip in the Penn National Gaming portfolio. Culprits were Hollywood Toledo ($15 million, -7%) and Hollywood Columbus ($17 million, -3%). Slot revenues dominated the cash count, representing 84% of revenues, and the house played lucky, raking in 6% more table game revenue on 6% less money wagered.
Director Paul Leger, who presumably believes in unicorns and Santa Claus, expressed confidence that Rivers would continue playing Lady Bountiful to the city. Rivers spokesman Jack Horner would go no farther than to say, “Discussions are under way, and options are being considered.” Admittedly, while the state Supreme Court’s revocation of host-community payments removes a financial burden from casinos it puts them in a tricky PR position. If counties and cities start laying off cops and teachers, they can blame it on the Big Bad Casinos. (In the case of Rivers, it initially sued Pittsburgh over the host-community fee, then dropped its litigation.) The Steel City isn’t exactly having an easy time of it either,