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in (no surprise, holds were 9% tighter). The Caesars Entertainment trio was up 8.5%, driven by 21% higher win on 11.5% greater wagering. Slots won 3% more on flat handle. Eldorado Resorts continues to fumble away business at the Tropicana Atlantic City, down 7% to $23.5 million. (Borgata’s $59 million easily led the market.) Caesars Atlantic City set the pace for the Roman empire, vaulting 27% higher to $28 million, followed by Harrah’s Resort with $25.5 million, microscopically up. Bally’s Atlantic City let the side down with a 7% decline to $13.5 million and last place in the market. It’s making a strong case for closure when the Caesars/Eldorado merger is consummated.
idea that has drawn a cavernous yawn from the gaming industry. He tried to minimize the crippling 72% tax rate as “hiccups.” We hate to say that Windy City Mayor Lori Lightfoot (D) has a point but unless the state funds the building of the casino and hires some underrepresented operator like MGM Resorts International to run it for a flat fee, this idea is never going to get off the ground. Kansas owns its casinos, so the notion is not entirely without precedent. Neither political party is entirely blameless in this boondoggle, the gambling expansion having passed on a bipartisan basis.
world’s gambling Vatican. Like Atlantic City, Macao struggles to evolve beyond a daytripper’s market. Because business has been so bad for the past two years, 2020’s expected 3% revenue isn’t the stuff of banner headlines. Whales who formerly took their action to Macao are now heading to Vietnam, away from governmental scrutiny, and the prospect of megaresorts in Japan is another cause of worry. Oh, and there’s no end in sight to the protest movement in Hong Kong, much as Chief Executive Carrie Lam would like us to believe otherwise. Nor has
at tribes so much as their vendors, who he implied
a favorable risk/reward with an attractive valuation.” Strong fundamentals in the regional-gaming sphere were cited, as were better weather and deleveraging made possible by a sale of the Tropicana Las Vegas. Plainridge Park “continues to experience competition/promotional pressure” from Encore Boston Harbor, with a 14% revenue decline in this quarter predicted, slightly offset by gains in Ohio. “Looking further out, the regional gaming consumer remains healthy, supported by a strong macro environment (wage growth, employment, consumer confidence all pointing in the right direction).”
that they had paid only $39,000 of a $424 million liability and gave them three days to get out of arrears. “I’m giving you at least three days,” he said over CNN Philippines. “That’s good enough, fair enough. Do you think it’s fair, three days? What do you think as a Filipino? Three days would be a kind of a good grace period for them.” He added, “I’m giving you three days to pay your debts. If not, you POGOs, I will shoot you with air guns. Because from where I come from, pugo [quail] is
casino-travel-destinations list. Brimming with glamorous lights, fascinating architecture, and innumerable stunning casinos, this city is the Mecca for all gambling enthusiasts. You can outrightly feel the excitement in the air and the energy coming from all the hopeful players around you once you visit the city. Not only that, but you can also indulge in different entertainment, nightclubs, concerts and high-end restaurants. Go ahead and see its gambling splendor and extravagant beauty all poured out for you.
Despite his New York posting, Clinton was better known for his lobbying efforts in Hartford, trying to block a tribal casino in East Windsor and gain an MGM megaresort in Bridgeport. Clinton was also starting to jawbone the New York Lege for table games at Empire City, even though it’s not supposed to get them before 2023. Connecticut state Rep. Joe Verrengia (D) took a business-as-usual approach, saying, “There’s plenty of unfinished business to deal with in the upcoming session, and I’m sure MGM will continue to be part of that discussion.” As for the New York legislative push, Gov. Andrew Cuomo (D) dismissed it, saying,
hard to believe that entirely accounts for the variance. The overall gross was $116 million, with Eldorado Resorts having a rare good month at Grand Victoria, flat at $13 million. Rivers Casino Des Plaines far outdistanced the state average, with $40 million, an 18% pole vault. The closest competition came from Harrah’s Joliet, down 2% but still grossing $14 million. Empress Joliet gained 7% to $10 million while Hollywood Aurora was up 4% to $10 million.
synonymous with gridlock and cronyism. Not only is Resorts Atlantic City owner Morris Bailey contributing heavily to a referendum to phase Hizzoner out, more importantly, the city’s unions are lending their muscle to the effort. (Don’t mess with the unions in Atlantic City.) There would actually still be a mayor, under the reform proposal, but he or she would be chosen from among a downsized city council. Unite Here Local 54 President Bob McDevitt needs 2,472 signatures to get the question on the ballot and says he’s got them.
board of directors of complicity in Steve Wynn’s sexual misdeeds (which he insists were consensual, as if that makes a difference). As part of the settlement, no longer will one person hold the roles of chairman of the board—currently occupied by the admired Phil Satre—and CEO. Lead plaintiff in the lawsuit was New York State Comptroller Thomas DiNapoli, litigation that was rolled into suits by pension funds that also had their dander up about Wynn Resorts. In return for a big payday, the litigants absolved the Wynn Resorts board from blame for Sexgate.