Quote of the Day, revisited

Posted on September 14, 2020 by David McKee

“We’re really positioned to do something special. We got rid of so much debt, and we have the best brand in town, by far.”—Donald Trump on Atlantic City, July 14, 2010. One decade later …

Posted in Atlantic City, Donald Trump | Comments Off on Quote of the Day, revisited

They just won, baby

Posted on September 13, 2020 by David McKee

Congratulations to the NFL on a successful first Sunday, figuratively beating the odds against Coronavirus. Kudos to the sound designers who created the illusion of teeming crowds (complete with booing of the referees) in empty stadiums. A few quick takeaways: The Las Vegas Raiders rewarded their new fanbase with a 34-30 win over the Carolina Panthers in a barnburner, blowing past the 48-point over/under. A new prop bet should be offered on the number of DraftKings and FanDuel ads per game. This week it went to FanDuel, 4-2. And Raiders coach Jon Gruden has really porked out in the offseason. Step back from the casino buffet, coach.

Posted in DraftKings, FanDuel, Las Vegas Raiders, Sports, Sports betting, TV | 1 Comment

Hiccups in Indiana, Missouri

Posted on September 11, 2020 by David McKee

Stimulus checks and pent-up demand only seem to go so far (except in Ohio). Gambling revenues in Indiana were down 10% last month, to $168 million. $5 million of that was table game play from Hoosier Park and Indiana Grand, something the Hoosier State didn’t have at this time last year. Other than Indiana Grand, only Caesars Southern Indiana was revenue-positive for the month, up 2.5% to $18.5 million. (The racino climbed 9% to $23 million.) There were the Caesars Entertainment properties and then there was everybody else. Horseshoe Hammond grossed $29 million, a 13% decline, while Hoosier Park slipped 2.5% to $16 million. Best of the rest was Ameristar East Chicago, down 2% to $19 million.

Rounding out the northern tier were the Majestic Star boats, grossing $6.5 million (-13%) and $4.5 million (-9%) respectively, as well as Blue Chip. The latter got walloped, down 31% to $9.5 million. Its companion in misery was French Lick Resort, tumbling 40% to $5 million. In the south, Belterra shed 22.5% for $8 million, while Tropicana Evansville stumbled to 10.5% (-17%) and Rising Star slipped 7% to $4 million. Hollywood Casino Lawrenceburg fell 12% to $14 million. Sports betting closed out its first year with a month that saw $169 million in handle. A full month of MLB, NBA and NHL play got the credit, even though Indiana’s fourth-place standing among American sports-betting states was described as “increasingly tenuous.” The NBA led sports bets ($55 million), with baseball second at $31 million. Football barely registered, thanks to the delay of the collegiate season.

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Posted in Architecture, Boyd Gaming, Caesars Entertainment, Century Casinos, DraftKings, FanDuel, Full House Resorts, history, Illinois, Indiana, MGM Resorts International, Michigan, Missouri, Movies, Penn National, Rush Street Gaming, Sheldon Adelson, Singapore, Spectacle Entertainment, Sports betting, TV, Twin River | Comments Off on Hiccups in Indiana, Missouri

Station hearts Reno; Caesars sued

Posted on September 11, 2020 by David McKee

In a speedy flip-flop, Station Casinos has recommitted to the Reno market. Its two parcels in that city (one opposite the convention center) popped up on a real estate-listing site Sept. 5. Less than a week later, Station had yanked them back down, saying through back channels that it was still planning on building in the Biggest Little City in the World. (But when? This soap opera has been running a long time.) The smaller of the two sites is eight acres near the aforementioned convention center. That’s destined for a “portable” license—the only one in Nevada—whereby Station could build a casino without hotel rooms. The idea was once mooted for the Castaways site and Station went so far as to commission a design but it literally never got off the drawing board. Then there’s an 88-acre site on Mount Rose Highway that was dibbed for a $500 million casino-resort.

Station’s recantation of its real estate play was not without caveats. It wrote the Reno Gazette-Journal, “The 88-acre Mt. Rose site has been on the market since late last year. In regards to the attractive and strategically located convention center site, Station Casinos is currently weighing all options, including developing the property ourselves.” Even when the economy was good Station had a weak trigger finger on new development, so we’ll believe this when the shovels go into the ground. If the Mount Rose site happens, Station plans 20,908 square feet of casino, “a sportsbook, sports bar and mobile wagering kiosks … a five-screen cinema, 12-lane bowling alley and four restaurants.”

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Posted in Architecture, Boulder Strip, Caesars Entertainment, California, Economy, Health, history, Nevada, New Jersey, Palms, Reno, Station Casinos, Tribal | Comments Off on Station hearts Reno; Caesars sued

Quote of the Day

Posted on September 11, 2020 by David McKee

“99% of failures come from people who make excuses.”—George Washington.

Posted in history | Comments Off on Quote of the Day

Spin of the Week

Posted on September 10, 2020 by David McKee

“I think the NFL will be helped by the lead-in the Masters will give it in our 4:05 window, which is good for the NFL, and I think our Alabama-LSU game that Saturday will benefit greatly by having a Masters lead-in.”—CBS Sports Chairman Sean McManus, desperately trying to find an upside to the time-shifting of the Masters this fall.

Posted in Sports, TV | 2 Comments

So long, Shinzo; Shady dealings in Atlantic City

Posted on September 9, 2020 by David McKee

Japan‘s do-nothing prime minister, Shinzo Abe, is calling it quits for reasons of health. What this means for ‘Abenomics’ remains to be seen, let alone his highly unpopular casino push: Opinion polls consistently show two-thirds of the Nipponese public opposing them. It’s almost a moot point. Delay and indecision have marked the Abe government’s casino-development process to the point where it is the biggest bore in gaming. We won’t say Abe was static but we’ve seen glaciers that moved faster. At any rate, the speculation has begun over what Abe’s exit means for Japanese megaresorts, an issue that apparently helped give him ulcerative colitis. Expect the Japan government to stay the course for at least another year, as Abe successor Yoshihide Suga is hand-in-glove with the departing PM on casinos. But in October 2021, when Suga faces off against Shigeru Ishiba it’s anybody’s ballgame.

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Posted in Atlantic City, Caesars Entertainment, Charity, Eldorado Resorts, Galaxy Entertainment, Hard Rock International, Japan, Melco Resorts & Entertainment, MGM Resorts International, Ocean Resort, Politics, Regulation | 4 Comments

Ohio strong, Maryland stable, Illinois stinks

Posted on September 9, 2020 by David McKee

Buckeye State casinos continued their impressive run last month, up 5% to gross $172 million. This is Ohio‘s best-ever August, even with an unfavorable calendar (one less weekend day). Star performer was Hollywood Toledo, up 33% to $23 million. MGM Northfield Park has lost its state-leading status, grossing $19 million and down 7%. Also grossing $19 million was Hollywood Columbus (flat with 2019). JP Morgan analyst Joseph Greff had projected both Penn National Gaming casinos to perform poorly this year, down 25%. Instead, Toledo is tracking to be 65% up and Columbus (above) to cede only 2.5%. Jack Cleveland was up only 1.5% but that was good for $18 million, while Jack Thistledown jumped 15.5% to $14 million and Hard Rock Cincinnati was flat at $17 million.

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Posted in AGA, Baseball, Boyd Gaming, Caesars Entertainment, Churchill Downs, Colorado, Cordish Co., Dan Gilbert, Derek Stevens, DraftKings, GLPI, Golden Gaming, Hard Rock International, Illinois, Maryland, MGM Resorts International, Ohio, Pennsylvania, Politics, Regulation, Sports, Sports betting, Uncategorized | 2 Comments

Derby Day a dud; Bank cools on Resorts World LV

Posted on September 8, 2020 by David McKee

Seems that Churchill Downs was blowing smoke up Wall Street‘s keister about how well a delayed, spectator-less Kentucky Derby would perform. Last weekend’s Run for the Roses saw betting handle of $79.5 million, down 49% from last year. All races run on Sept. 5 saw an aggregate handle of $126 million, half of 2019’s $251 million. TV ratings were also in the tank. 8.8 million viewers tuned in, compared to double that last year. JP Morgan analyst Daniel Politzer blamed a heavy slate of sports competition: “we attribute this decline to the shift in timing from the first Saturday in May to Labor Day weekend, the Derby being the second leg of the Triple Crown this year (Belmont ran June 20th), as well as competing programming (i.e., college football, U.S. Open Tennis, NBA playoffs, etc.).” However you slice it, CHDN predicted that Coronavirus would be no big thing for the race, a forecast that came up short by several furlongs.

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Posted in Churchill Downs, Dining, Donald Trump, DraftKings, Economy, Election, FanDuel, G2E, Genting, Hard Rock International, Health, Horseracing, Kentucky, Las Vegas Raiders, LVCVA, Macau, MGM Resorts International, Nevada, New York, Penn National, Rush Street Gaming, Security, Sheldon Adelson, Singapore, Sports, Sports betting, The Rio, The Strip, Tourism, TV, Wall Street | 1 Comment

Quote of the Day

Posted on September 5, 2020 by David McKee

“Yes, it’s sad to see the decline of horse racing. The Sport of Kings has failed to keep up with the times, and even worse, has often been accused of abusing the very animals it depends upon for survival. If you can’t keep your star product safe, you really don’t deserve to prosper.”—Roger Gros.

Posted in Animals, Horseracing | 2 Comments

Usher to play the Strip and other doings at Caesars

Posted on September 4, 2020 by David McKee

What does Tom Reeg know that the rest of us don’t? In the first big contract signing since the Covid-19 pandemic (still playing an extended engagement in Las Vegas) hit, Caesars Entertainment has inked a deal with Usher to play the Colosseum. Actually, it looks like a safe bet, as Usher wouldn’t debut until July 16 of next year, by which point we will surely have turned the corner on Coronavirus. There aren’t a lot of specifics on the show at the point, other than that it will encompass both 20-year-old hits and new songs alike. But you don’t have to wait long to buy tickets, which go on sale next Thursday at 7 a.m. Eastern time (a fan presale will conducted from Monday to Wednesday). This will either give you a reason to return to the Las Vegas Strip or serve as a litmus test of how soon you are ready to come back.

$500 million apiece for a Manhattan casino license may be a bit rich, it seems. Not with the way prime hotel real estate is falling in value. A Chinese private equity firm, Cindat, is cashing out of seven pocket hotels for $400 million—a substantial loss on the $571 million it paid. Realtor Kevin Davis tried to spin it as a positive: “Now is a time to invest in New York at a historically attractive long-term basis. We are in the market with a number of transactions in New York City right now and are seeing tremendous interest from both domestic and foreign investors.” If they don’t include Las Vegas Sands do they even matter?

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Posted in Atlantic City, Caesars Entertainment, Dining, Entertainment, Genting, Health, Louisiana, MGM Resorts International, New Jersey, New York, Real Estate, Taxes, The Strip, Transportation, Uncategorized, Wynn Resorts | 2 Comments

Quote of the Day

Posted on September 4, 2020 by David McKee

“There’s certain things worth losing over and this is something worth losing over if you have to — but we’re not going to lose.”—Joe Biden, on racial inequality.

Posted in Diversity, Election | Comments Off on Quote of the Day

Macao moots casino closures; Stevens vs. William Hill

Posted on September 3, 2020 by David McKee

Here it comes. Again. The government of Macao is taking a zero-tolerance policy toward Covid-19. Although there hasn’t been a case in four months (good for them), the enclave is floating the idea of shutting down any casino where a positive test occurs. According to GGR Asia, “From July 15, ‘all people who intend to enter’ the city’s casinos are required not only to have their body temperature measured and to display a health-declaration statement, but also to present a certificate of a ‘valid nucleic acid test’ proving freedom from Covid-19.” That’s a high bar to clear. While a comeback of Macanese gaming revenues is inevitable, IGamiX Management & Consulting Managing Partner Ben Lee cautioned not to expect miracles. “The mainland authorities will likely be careful in managing the number of [tourist] permits issued, in order to not swamp the city,” he reasoned.

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Posted in Arizona, Caesars Entertainment, Derek Stevens, DraftKings, Economy, Hawaii, Internet gambling, Japan, Macau, Marketing, MGM Resorts International, Oklahoma, Sports betting, Tribal, Wall Street, West Virginia, William Hill | 1 Comment

Quote of the Day

Posted on September 3, 2020 by David McKee

“I’ve watched less qualified men get professional opportunities over women, seen women castigated in meetings for raising a contrary point when men are rewarded for doing the same, and even had male colleagues make personally insulting remarks about me under the guise of humor. I’ve heard them make disparaging remarks about female coworkers’ age, dress, demeanor and competency.”—anonymous casino executive, quoted in an unflinching Global Gaming Business exposé about the sham that is ‘D&I’ (diversity and inclusion) in Big Gaming. It’s definitely worth reading in full.

Posted in Diversity | Comments Off on Quote of the Day

Cuomo abandons N.Y. casinos; Legal brawls in Atlantic City

Posted on September 2, 2020 by David McKee

New York Gov. Andrew Cuomo (D) has turned his back on the casino industry in no uncertain terms. The Empire State lags the entire nation in casino reopenings and Cuomo shows no inclination to soften his hard line. As for the real victims of this scenario, the labor force, they can do little but hold protests. These aren’t unruly ‘liberate’ mobs but well-organized, polite protesters who wear PPE masks and have filed Covid-19 safety plans with the state. But the stony Cuomo remained unmoved, saying, “Casinos are nonessential. People need food, people need clothes, people need home goods. You don’t need a casino to maintain survival.” And if you work at one, tough luck, bub.

Remarks like those reek of moral disdain for the industry, which Cuomo continues to deny an equal competitive footing by blocking mobile sports betting. Unfortunately for the casino workers, their rallies are only attracting small turnouts, not turning into a grassroots movement. Said pit boss Valerie McIntyre, “We’re not doing this with any input from the casinos or the unions. This is the workers screaming to Governor Cuomo, ‘Help us.’” Alas, it’s a scream that’s falling on deaf ears. As McIntyre said, there was “Not one word back from [Sens.] Chuck Schumer or [Kirsten] Gillibrand, or Cuomo. We have all gotten back the same thing, ‘We are in receipt of your letter . . .’ I have pled this case over and over to the three of them, and not one word.” Given that the Empire State’s education budget is fueled by casino dollars, you’d think policymakers would pay more attention. Think again.

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Posted in Atlantic City, Caesars Entertainment, Dining, Health, Horseracing, Marketing, MGM Resorts International, Nevada, New York, Ocean Resort, Pennsylvania, Politics, Racinos, Regulation, Scientific Games, Sports betting, The Mob, The Rio, Wynn Resorts | 1 Comment

Quote of the Day

Posted on September 2, 2020 by David McKee

”Shooting the guy, shooting the guy in the back many times, I mean, couldn’t you have done something different? Couldn’t you have wrestled him? You know, I mean, in the meantime, he might’ve been going for a weapon and, you know, there’s a whole big thing there. But they choke. Just like in a golf tournament, they miss a three-foot putt.”—Donald Trump, on the Jacob Blake shooting.

Posted in Current, Donald Trump | Comments Off on Quote of the Day

Primary special: Markey wins, Trump closes betting gap

Posted on September 2, 2020 by David McKee

In a win for sites like PredictIt, Sen. Edward Markey (D) beat Rep. Joe Kennedy (D) 55% to 45%. The futures market went from 2-to-1 for Kennedy to an even more lopsided favoritism of Markey even before Massachusetts polls showed the senator opening up a 10-point lead prior to the actual vote. If there’s a loser it’s not Kennedy as much as Speaker of the House Nancy Pelosi (D), who blundered into the race at the 11th hour with an attempt to dislodge Markey that was probably counterproductive, stamping Kennedy as the candidate of the Establishment, a label that ultimately proved toxic. Elsewhere in the Bay State, Rep. Ayanna Pressley (D) had the brass to send out a ‘victory’ e-mail even though she had run uncontested.

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Posted in Donald Trump, Election, Internet gambling, Massachusetts | 1 Comment

Culinary, Caesars, MGM make peace; IGT does a Kerouac

Posted on September 1, 2020 by David McKee

Instead of butting heads in court, the Culinary Union, Caesars Entertainment and MGM Resorts International put their noggins together, and came up with a set of worker-safety protocols to implemented on a company-wide basis. That still leaves a lot of casino workers uncovered but we’re not going to cavil at such major progress. All the principals professed to be happy with the accord. Caesars CEO Tom Reeg implied it was a transitional stage, saying, “This agreement is an important step in continuing to ensure our Team Members and their families are protected during these unpredictable times.” Added MGM’s Bill Hornbuckle, the most vocal CEO in supporting the Culinary’s goals, “We thank the Culinary Union for their partnership during these difficult times and look forward to when we can welcome back more of our colleagues. We’re all in this together, and I have no doubt that we will emerge stronger and more successful than ever on the other side.” 24,000 MGM and 12,000 Caesars employees are covered by the pact.

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Posted in Caesars Entertainment, Culinary Union, Golden Nugget, Health, IGT, Louisiana, Marketing, MGM Resorts International, Movies, Penn National, The Strip, Transportation, TV | 1 Comment

Quote of the Day

Posted on September 1, 2020 by David McKee

“Be a good place to spread it. Gambling has killed more people and ruined more homes and destroyed more things in our society almost than liquor or pot or pornography. Gambling is wicked.”—Covid-19 super-spreader Rev. Todd Bell, responding to an accusation that he was flying to Oxford, Maine, to infect its casino.

Posted in Cretins, Health, Maine | 1 Comment

Dark portent for MGM Springfield; Chicago courts casinos

Posted on August 31, 2020 by David McKee

A thousand MGM Springfield employees have been canned, effective today. A skeleton crew of 800 keeps the casino-resort open, as it writhes in pandemic economic throes. Reports the Boston Globe, “State rules to prevent the spread of the coronavirus have limited the availability of table games, reduced restaurant capacity, and barred large gatherings such as concerts and conferences that are important to casino’s business.” As the story points out, even if all furloughed workers had been restored to their positions, MGM Springfield would be well below the 3,000 jobs it promised the community. (Encore Boston Harbor at its peak only achieved 80% of projected employment.) One positive that Mayor Dominic J. Sarno was able to salvage was that MGM began work last week on 74 apartments it had promised the city.

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Posted in Caesars Entertainment, Canada, Cantor Gaming, Cosmopolitan, Derek Stevens, Dining, Donald Trump, Downtown Grand, Economy, Golden Gaming, Health, Illinois, Las Vegas Raiders, Las Vegas Sands, Massachusetts, MGM Resorts International, Nevada, North Las Vegas, Penn National, Phil Ruffin, Regulation, Reno, Sahara, Silverton, Slot routes, Station Casinos, Taxes, Terry Caudill, The Strip, William Hill, Wynn Resorts | 2 Comments