Nevada casinos won $618 million in a Covid-19-truncated March, with the Las Vegas Strip leading the plunge with a 46% fall to $300 million. Las Vegas locals play was remarkably strong under the circumstances, 
down only 20.5%, although that number may have been fattened by some end-of-February slot win (the month having finished on a weekend). Statewide, casinos were off 40%. For the first quarter the Strip has been doing the worst of the the three major segmentations, down 12%. Baccarat, however, did relatively well in March, down 17% on 25% less wagering (good luck for the house), although non-baccarat table games on the Strip were catastrophic, plummeting Continue reading
two months of the quarter.” Since only the Downtown sector had “airlift dependency,” Boyd was relatively sheltered from gamblers’ reluctance to travel to Las Vegas. Having jettisoned a significant amount of payroll, Boyd is presently churning through $60 million a month (including $16 million in monthly interest payments) and has $831 million on hand, enough to keep it going for 14 months. Greff’s models assume a Boyd reopening in June “with a gradual rate of improvement, or, put another way, a less bad year-over-year trend over the next two years.”
range of healthcare providers such as physician offices, hospitals, and government agencies for rapid results … We have the capacity to manufacture more than 150,000 of our kits per week and have started receiving orders for shipment.” (We’ve no doubt of that.) The test supposedly works in 10 minutes, once a blood sample has been obtained. Avidium says it has compared its tests against others available on the market and has a 97% positive correlation and 100% negative one. It has notified the FDA to be placed on the emergency-use track. Finally, some good news out of Sin City.
microphone over to NBC News anchor Chuck Todd, who 
as keeping Bally’s would have given the merged companies four casinos in the city, the very definition of “undue market concentration.” Or as pundit Dan Heneghan put it, the deal would “significantly reduce the level of economic concentration and that will make it a lot easier for the Casino Control Commission to approve it. The fact that it is being sold to a new player for the market here will help increase competition.” A sale to Maverick Gaming having fallen through Eldorado flipped Eldorado Shreveport and Lake Tahoe‘s Montbleu Resort Casino & Spa to Twin River. Reflecting the value of the markets (especially Shreveport), the deal is for $155 million.
Lion poses an array of questions to Platinum- and Noir-tier customers. As Roeben says, it reveals more than it conceals, at least with regards to MGM corporate thinking about the company “unchartered [sic] waters.” Some of the ideas floated in this trial balloon are …
Covid-19 could spur more states to legalize online casino and sports betting.” After all, look to New Jersey, where homebound players turned to ‘Net betting 65.5% more than last year, generating $65 million for casinos. Two Atlantic City casinos, the Golden Nugget and Resorts Atlantic City raked in more from the Web than they did terrestrially. Penn National Gaming, while absent from New Jersey, also expects to make a silk purse from a sow’s ear. CEO Jay Snowden told investors that 
needed relief for small casinos, manufacturers and slot-route operators. Hedge funds and private equity are explicitly excluded from PPP money under the newest rules, banishing one fear. Bankrupt companies are also out, so you don’t want to open Chapter 11 right now. “We are pleased that the new regulatory guidelines released today make small gaming companies eligible for this critical program just as Congress has replenished its funding,” said Miller, adding, 
decline in revenue per available room from $249 to $199. Sands was modestly down at the tables, from $95.5 million to $89 million, on $446 million in wagering (up from $419 million last year). Slot win took a beating, down to $49.5 million from $56 million on vastly lower coin-in (2019: $668 million; 2020: $603 million). That made for a 9% decline in casino revenue, less bad than we were expecting. If you include the zeroing out of Sands Bethlehem ($137 million in 1Q19), Sands suffered reversals on all fronts. Las Vegas Strip revenue fell 15% to an even $400 million, Macao toppled 65% to $802 million, while Marina Bay Sands slid 20% to $612 million.
(-67%) before closing on March 17, as did Mohegan Sun. The silver lining for the tribes is that they get to 
degree of exposure, it’s no surprise that Caesars Entertainment had the biggest decline of any operator, 63%. Harrah’s New Orleans fell 64% to $10.5 million, while competitors grossed far less still: Boomtown New Orleans $5 million (-57.5%), Treasure Chest $4 million (-59%), Fair Grounds racino $2 million (-51.5%) and Amelia Belle $1.5 million (-63%). The total New Orleans gross ($23.5 million) not only fell below Lake Charles‘ $33.5 million but—horribile dictu!—Shreveport/Bossier City. Those Texas-based players must have 
efforts during the crisis (bolstered by a $500,000 contribution from Dubai World). He promised changes to the look of the casino floors, the frequency of cleaning, the greeting of guests and to restaurants. Specifics were not to be had. “This is a completely uncharted path,” said Hornbuckle, who may be seeing how Wynn Resorts‘ extensive reopening strategy plays out (we find it reasonable but our readers respectfully dissent). He began and ended with advocacy of social distancing. How that will be enforced in a ‘reopened’ Las Vegas Strip remains to be seen but we’ll be following it with interest.
for Pagcor to act. Senate Minority Leader Franklin Drilon thinks there’s a $5.9 billion payday to be had. Trouble is, Pagcor’s casinos are finally profitable, which would give the government an incentive to maintain the status quo. Pagcor points out that 100% of those profits go directly to the government, while private casinos in the archipelago are taxed at 19.5% of gross gaming revenue. Nor would a Pagcor sale likely be as simple as proponents believe. In the words of CalvinAyre.com, “It would be naïve to -
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