China gamblers may be playing today at the expense of tomorrow. Bloomberg reports that Generation Z is borrowing heavily in high-interest debt to fuel its consumerism, a phenomenon that should be of concern in 
Macao. “Household debt hit levels of 57% of gross domestic product in the third quarter … more than double just 27% in 2010.” Household debt represents just under 100% of disposable income. Of Generation Z it is said, “They have little income and therefore virtually no credit history. It doesn’t matter, because they have had access to a whole range of online banks, fintech startups and peer-to-peer lenders, some of which charge exorbitantly high interest rates.” If they’re spending that moolah in Macao it means there’s going to be a trough when those bills come due.
Most of this household debt is collateralized, but that’s no solace to casinos when the coming generation has no Continue reading
are whether the market can support such a casino and would the state benefit from it? Rush Street Gaming will be all gung-ho for the move, as it’s still pushing a $677 million project in Brockton. Still, Rush Street attorneys confessed to impatience, writing, “We ask that whatever else you do … you recognize that the ongoing delay comes at a tremendous human and financial cost. We ask that you move the process forward quickly.” Oh, the humanity. Still, as the Globe puts it, “regulators are now facing an increasingly 
is that Baton Rouge, so troubled a market, was incrementally higher than in 2018. Eldorado Resorts‘ Belle of Baton Rouge continues to suck wind, down 25% to $2 million but L’Auberge Baton Rouge gained 6% to $12.5 million and Casino Rouge was up 3% to $4 million. (In other news, Casino Rouge owner Gaming & Leisure Properties is reportedly being pressured to merge with Vici Properties.) In Lake Charles, only Delta Downs was revenue-positive, up 5.5% to $15 million. L’Auberge du Lac slipped 5% to just under $26 million, while Golden Nugget was down 1.5% to $26 million. Isle Grand Palais ceded 11% to $7 million.
bribery, obtaining property under false pretenses and tax evasion. Twin River has promised full cooperation with prosecutors but 
In 2015-6 Coates scraped by one a mere $154 million, gave herself a raise to $284 million the next year—
on whether or not the Muscogee Nation was disestablished in 1887. The original reservation, created in 1866, covered portions of eight counties. According to Casino.org, “If the court decides it was never disestablished, then the area and its citizens would be regulated, not by the state, but by the Creek Nation. It would also mean that crimes involving a tribal member as victim or perpetrator could only be tried by tribal or the federal governments.”
Pennsylvania’s future as a legal sports betting jurisdiction was murky at the beginning. But despite the issues in its infancy, the state has proven to be attractive for operators and the market is truly beginning to flourish.” Handle was $316.5 million which translated to $20.5 million in revenue. The ranks of casinos accepting sports wagers were swelled by the addition of DraftKings at The Meadows and Unibet at Mohegan Sun at Pocono Downs. Online sports books generated $267 million of overall handle or 84%.
Ryan Raddon, aka Kaskade. At numbers like those, it’s no wonder KAOS was hemorrhaging cash—Station took a $27 million write down on the Palms joint. The basic problem is the even hardened nightclubbers won’t stray from the Las Vegas Strip. Station got this lesson at Red Rock Resort and now an expensive reminder at the Palms. Station CEO Frank Fertitta III blamed the market rather than himself, saying, “It doesn’t appear that the market has grown enough for the amount of supply. The cost of entertainment is excessively high, and we just made the decision to focus where the fish are.”
$305/win/slot/day—but down from $357/slot a year ago. Revenues at the racino are tracking even worse than Wall Street expected. Plainridge Park grossed $11 million, tumbling 14.5%. Encore pulled in $47 million, with a slot/win/day average of $240 and a daily table average of $5,717 in win. Win-per-slot average at MGM Springfield was a below-average $193, while it did $1,446 per table, for an overall gross of $20 million, down 6%. Could lookie-lous be gravitating back to tribal casinos in Connecticut or are Boston-based players staying and playing close to home?
president of Genting New York, ousting Ryan Eller. As his title implies, DeSalvio will be overseeing both Resorts World New York and Resorts World Catskills. The former is a great success story, throwing off more revenue than any other slots-only casino and about to open a 400-room hotel. Resorts Catskills is … another story. DeSalvio will have his work cut out for him turning that billion-dollar boondoggle around. We wish him luck. Besides, when DeSalvio headed up marketing for long-gone Sands Atlantic City it had the highest ROI of any casino on the Boardwalk. So maybe he’s the right man for the Catskills posting.