Florida gets tough on black market; Nugget tops Atlantic City

Florida‘s black market slot-parlor industry is coming under renewed scrutiny as it offers not only unlimited soda but an invitingly soft target for armed robbers looking for high concentrations of cash. In a 15-month period, Jacksonville police have logged 500 emergency calls to slot arcades. One such robbery, at Jacksonville’s Lucky Charms arcade, led to a hostage situation, a car chase, a crash, an injured police officer and one fatality. The alleged robber is charged with myriad counts, including the demise of the hostage, which carries the death penalty. Since gaming regulation in Florida is virtually nonexistent, law enforcement is looking toward public-nuisance laws as a weapon against slot houses, a potential tool for shutting them down.

The cops have got a point. As Bloomberg Businessweek reports, “This being Florida, which leads the nation in concealed weapon permits, shootout frequently Continue reading

Posted in Architecture, Atlantic City, Caesars Entertainment, Dining, Donald Trump, Florida, Internet gambling, Law enforcement, New Jersey, Regulation, Tamares Group, The Strip, Tilman Fertitta, Wynn Resorts | Comments Off on Florida gets tough on black market; Nugget tops Atlantic City

Strip soft, locals firm; Big win for DraftKings

At $538 million, last month’s Strip gambling revenue fell 9%. Slot win was 1.5% up on 5.5% more coin-in. However, baccarat win plunged 27% on 20.5% less wagering. Non-baccarat table games were down 19% on 11% less betting. Strip casinos faced a tough comparison with October of last year and will have another one this month, going against a 10% jump overall in November 2018, fueled by a 53% (!) baccarat surge. Locals play was steady, with 2% greater revenue despite flat slot revenue on 1% more handle.

Downtown grossed $68 million, a 7% gain, the Boulder Strip was flat at $78.5 million, North Las Vegas slipped Continue reading

Posted in Boulder Strip, Culinary Union, Downtown, DraftKings, International, Lake Tahoe, Laughlin, Law enforcement, Lotteries, MGM Resorts International, Money laundering, New Hampshire, North Las Vegas, Regulation, Reno, Sports betting, The Strip, Tourism, Transportation, Washington State | Comments Off on Strip soft, locals firm; Big win for DraftKings

Quote of the Day

“Compliance is often seen as taking all the fun out of the industry but the problem with this industry is that it’s had fun, at the players’ expense, for too long now. This does mean that some regulatory bodies have gone in hard and fast and, maybe, gone a little overboard in their requirements, but something had to give. Players are what keep us in business and they deserve to be well protected. I may not agree with the length some regulators go to, but it’s there and something we have to all come to terms with.”—Zimpler Chief Compliance Officer Rhi Burns, on the question of whether regulatory compliance is dampening innovation in the Internet-casino market.

Posted in Internet gambling, Regulation | Comments Off on Quote of the Day

Scientific fluent in Chinese; William Hill seeks new horizons

It’s not just for China anymore. Scientific Games is reporting success with its Chinese-themed slots, including in North America. Yes, games with titles like Jin Ji Bao Xi, which doesn’t exactly roll off the tongue but is gaining traction with slot players worldwide. “If you go back to ‘Duo Fu Duo Cai’ it was designed for Macao, and now it’s a product all around the world and successful all around the world,” said Managing Director for Asia Ken Jolly. You’d be jolly too if your slots were performing better than expected. The secret? Good game math. “One of our mathematicians is extraordinarily good – particularly when it comes to concepts and volatility,” Jolly told GGR Asia. Congratulations on SGMS to having transcended language barriers and borders.

Scientific Gaming is also moving—along with Aruze—into a kind of preemptive strike on the Japan market. Both companies are displaying pachinko-like slot games. Since Japanese consumers are strongly Continue reading

Posted in Cantor Gaming, China, Economy, Environment, Florida, International, Internet gambling, Japan, Macau, MGM Resorts International, Movies, Nevada, North Carolina, Pennsylvania, Philippines, Regulation, Scientific Games, Sexual misconduct, Sports, Sports betting, Technology, The Strip, Tourism, Tribal, Virginia, William Hill | Comments Off on Scientific fluent in Chinese; William Hill seeks new horizons

Quote of the Day

“Anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that ‘my ignorance is just as good as your knowledge.’”—Isaac Asimov.

Posted in history | Comments Off on Quote of the Day

Wynn Resorts chastened; Living the high life at the Cosmo

Boston is quite a different animal from Las Vegas and Macao—or so Wynn Resorts has learned. Despite healthy table games revenues it is lowering the minimum-bet limits from $50 to $15 at Encore Boston Harbor. In a remarkable mea culpa before the Massachusetts Gaming Commission, Encore President Brian Gullbrants admitted, “We thought we could charge for parking here in Boston, and we were wrong,” adding that self-parking is now free. “We thought we could charge for some of the transportation, like boats and premium buses. We were wrong.” Why Wynn would erect disincentives to attendance, particularly in a largely blue-collar market, passes understanding. As Gullbrants put it with 20/20 hindsight, “The last thing we want to do is be a Vegas casino in Boston. We want to be a Boston casino in Boston.” Don’t  blame Gullbrants. The bad decisions can probably be laid at the feet of predecessor Robert DeSalvio.

The graveyard shift at Encore is a rolling crime scene. Since opening in June, 160 Encore patrons have been arrested or given summonses. In addition to cheating, which you’d expect, common charges are Continue reading

Posted in Animals, China, CityCenter, Cosmopolitan, Downtown, Election, Environment, Hard Rock Hotel, Hard Rock International, Las Vegas Raiders, Lawrence Ho, Macau, Maine, Marijuana, Marketing, Massachusetts, Palms, Penn National, Regulation, Resort fees, Sheldon Adelson, Sports, The Strip, Virginia, Wynn Resorts | Comments Off on Wynn Resorts chastened; Living the high life at the Cosmo

Quote of the Day

“I cannot think of another president who sustained a political jihad against a specific state.”—Barry Rabe, a public policy professor at the University of Michigan, on Donald Trump‘s California fixation.

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

Resorts World postponed (again); Drugs-for-points scandal settled

Guess what? Tortoise-powered Resorts World Las Vegas has been hit with another construction delay. (Shocking. Absolutely shocking.) It’s getting pushed back all the way into summer of 2021, a half-year delay. Sometimes one thinks it will be a miracle if this place ever opens. The delay is intended to help accommodate “a 5,000-seat state-of-the-art theater; a 75,000-square-foot nightlight and daylife concept; a 50-foot diameter video globe; and additional luxury suites, villas and penthouses with individual lobbies, open balconies and a sky casino.” That’s in addition to a long list of amenities that includes a sevenfold pool area. Olde Cathay design elements of Paul Steelman‘s original concept have long since been banished but now the planned Asian theme has been downsized to Continue reading

Posted in Cosmopolitan, Dining, Genting, Japan, Lake Las Vegas, Las Vegas Sands, Law enforcement, Lucky Dragon, Macau, MGM Resorts International, Palms, Pansy Ho, Resorts World LV, South Dakota, The Strip, Wall Street | 1 Comment

Marching through Georgia; Stevens’ grand vision

Wynn and MGM are going to Atlanta,” said Georgia state Rep. Al Williams (D), trying allay hopes/fears that megaresorts are going to be sprinkled across the Peachtree State. State Rep. Ron Stephens (R) is particularly bullish, projecting six casinos throwing off $1 billion in tax revenue a year. They’re two of a number of legislators who are marching through Georgia, talking up the benefits of casino legalization. The main selling point is that gambling revenues could shore up the HOPE Scholarship fund. As Valdosta Mayor John Gayle put it, “I’m not a proponent of gambling. But I am a proponent of things that would benefit the state.” Especially if Valdosta could siphon off players from northern Florida, I’m sure.

State Sen. Ellis Black (R) explained the rationale for the listening tour thusly, “I don’t think Continue reading

Posted in Architecture, Arkansas, China, Derek Stevens, Downtown, e-sports, Environment, G2E, Georgia, International, Internet gambling, Lawrence Ho, Macau, Mandalay Bay Massacre, MGM Resorts International, Oklahoma, Politics, Sports betting, Taxes, The Strip, Tribal | Comments Off on Marching through Georgia; Stevens’ grand vision

New life for Harmon Strip; Wynn Resorts vindicated, mostly

Could the Harmon Strip, mooted since the late Nineties, actually come to pass? The area has been a graveyard for resort projects, leaving the Hard Rock Hotel standing in splendid isolation. However … one Jeffrey Williams is applying for permission to build on the vast track of land at Koval Lane and Harmon Avenue. This is where the W Hotel and Las Ramblas (pictured) projects went to die. If the new owners have less hat and more cattle they could reinvent a site that has been the poster child for the condo bubble and failsinos in general.

The new plan calls for a 40-story resort, with 2,402 hotel rooms, the necessary casino, retail, poolside guest villas, a sports book (also necessary) and showroom, etc. The owner(s) want to increase Continue reading

Posted in Alabama, Cantor Gaming, Cosmopolitan, Georgia, Hard Rock Hotel, history, Las Vegas Sands, Law enforcement, Massachusetts, Palms, Penn National, Pennsylvania, Politics, Regulation, Silverton, William Hill, Wynn Resorts | 1 Comment

Quote of the Day

“When has a gaming executive said their great results are because of decreased competition? Or great weather? Or great consumer trends? No—at many gaming companies, when things are great, it is because of their strategies; when things are bad, it is God’s fault.” — casino consultant Randall Fine on the recent plethora of ‘dog ate my homework’ excuses made by the casino industry for poor financial performance.

Posted in Economy | Comments Off on Quote of the Day

Quote of the Day

“We need to take the issue seriously instead of avoiding it. We can’t let this big cake be eaten all by foreign capital.” — Phoenix Island Chairman Zeng Xianyun, advocating casino expansion to tourist-oriented Hainan Province, where MGM Resorts International has signed a letter of intent to build a Bellagio-branded hotel.

Posted in Economy, International, MGM Mirage | Comments Off on Quote of the Day

Desert Diamond sets debut; Paddock’s grim legacy

Controversial Desert Diamond Casino will finally open on Feb. 19, superseding a “big box” temporary casino on the same site. Pride and joy of the Tohono O’odham Nation, Desert Diamond was the bane of Gov. Doug Doucey‘s existence, as well as that of other nearby tribal casinos. The T-Os, as they are known, cannily exploited a loophole in the Indian Gaming Regulatory Act to plant their flag in the greater Phoenix area. After much agitatation, everybody bowed to the inevitable and Desert Diamond became a reality. It will create 1,300 new jobs, and offer 1,136 slot machines and 48 blackjack tables.

The T-Os are betting heavily on poker, with 36 tables worth on hand. There will also be Continue reading

Posted in Arizona, Canada, Dining, Florida, Internet gambling, Japan, Las Vegas Sands, Lotteries, Mandalay Bay Massacre, New York, Philippines, Problem gambling, Sports betting, Tamares Group, Taxes, The Strip, Tribal, Wall Street, Wynn Resorts | Comments Off on Desert Diamond sets debut; Paddock’s grim legacy

Next stop, Hempfield!

Cordish Gaming has broken ground on its Hempfield Township satellite casino in Pennsylvania. The $150 million property will have 750 slots and 30 table games, as well as a 445-seat sports book. The casino will fill the space left by the defunct Bon-Ton department store. The casino is scheduled for late-2020 completion, by which time we should know if the Keystone State is oversaturated with gambling or not.

Jottings: Rutgers University has issued another sky-is-falling report on the Atlantic City market. The study provides ammunition for bipartisan Continue reading

Posted in Arkansas, Atlantic City, Caesars Entertainment, Cordish Co., Dining, Downtown, Economy, Eldorado Resorts, Entertainment, Golden Gaming, history, Internet gambling, Kentucky, Las Vegas Sands, Law enforcement, Massachusetts, MGM Resorts International, Mohegan Sun, Pennsylvania, Regulation, South Korea, Sports betting, The Strip, Tribal, Wall Street, Wynn Resorts | 2 Comments

Sports betting burgeons in Pennsylvania

Pennsylvania sports-betting handle was $241 million last month, which translated into $19 million in revenue (a quarter of which promptly went to the state). Mobile wagering accounted for $199 million or 82% of the wagering, up from 65% last July. “Most encouraging is that Pennsylvania’s online market is still expanding with new brands, including DraftKings. That should only encourage more growth,” said gaming analyst Dustin Gouker. Still preeminent was FanDuel Sportsbook at Valley Forge Resort Casino, with $114 million in online handle. It was followed distantly by Rivers Casino Philadelphia ($30 million) and Rivers Casino Pittsburgh ($26.5 million), as well as Parx Casino ($18.5 million).

Parx led retail betting with $7.5 million, followed by Rivers Philadelphia with $7 million and Valley Forge with $4 million. Further back were Continue reading

Posted in Boyd Gaming, Caesars Entertainment, DraftKings, Eldorado Resorts, Environment, FanDuel, Greenwood Racing, Illinois, Law enforcement, Michigan, Mississippi, Mohegan Sun, Penn National, Pennsylvania, Regulation, Rush Street Gaming, Sexual misconduct, South Dakota, Sports, Sports betting, Tribal, Twin River, Wall Street, Wynn Resorts | Comments Off on Sports betting burgeons in Pennsylvania

Quote of the Day

“Finance is a gun. Politics is knowing when to pull the trigger.—Don Licio Lucchesi in The Godfather, Part III.

Posted in Movies, Politics, Wall Street | Comments Off on Quote of the Day

What if they gave a casino and nobody came?

That’s what’s happening in Chicago, where nobody—and I mean nobody—is showing any interest in a new casino license. Gee, do you think it could have something to do with the 72% tax rate which effectively ensures that a Windy City casino would operate at a loss? Besides, a Chicago casino is no slam-dunk even under a lower rate as it presumes that potential patrons would A) pass up ‘convenience gambling’ in the suburbs, B) brave the hassle of driving into Chicago (I can testify to this first-hand), a challenge at the best of times, in order to C) patronize a casino in the slums, which is where tax-and-spend Mayor Lori Lightfoot (D) wants to put it. The casino industry’s mass refusal to submit to Illinois‘ crazed taxation demands is a welcome show of solidarity.

Lightfoot is holding Chicagoans hostage, threatening higher Continue reading

Posted in Alex Meruelo, Illinois, Macau, Politics, Sahara, Sam Nazarian, Scientific Games, Security, Taxes, Technology | 2 Comments

Going for the gold in California; Vegas tops sin survey

It’s not quite as pre-apocalyptic as dogs and cats living together but California Native American tribes are joining with private-sector racetracks to push for sports betting in the Golden State, surely the ripest market in the U.S. The coalition wants to put the California Sports Wagering Regulation & Unlawful Gambling Enforcement Act on next year’s election ballot. Setting the betting age at 21, the Act would enable sports betting at tracks and tribal casinos, with collegiate and professional games eligible for wagering. High-school-sports betting would be out of bounds. Wagering on California collegiate games would also be verboten. Revenues would be taxed at 10% with some of the proceeds funding mental health programs. (So far, so good.)

Mobile wagering is neither explicitly authorized—and yet Continue reading

Posted in Atlantic City, Caesars Entertainment, California, Donald Trump, Eldorado Resorts, Election, Entertainment, history, Illinois, Japan, Louisiana, Regulation, Sports betting, Steve Wynn, Taxes, The Strip, Tribal | 1 Comment

Quote of the Day

“Our customers are worried about gambling ads on TV – and we understand their concerns. That’s why we’ve committed to limiting the amount of gambling ads on Sky and better protecting those vulnerable to problem gambling.” — Sky UK CEO Steven van Rooyen on a new policy restricting gambling ads to one per commercial break. Now if we could only get the same sort of restraint put on political ads …

Posted in International, Marketing, Problem gambling, TV | Comments Off on Quote of the Day

Ocean outperforms Atlantic City; Encore Boston crushes competition

Atlantic City casino revenues were $202 million last month, flat with the year previous. Slot revenues were up 3.5%, table win down 6%. Despite flat wagering at the tables and slots, Borgata gained 6% at the slots and ceded 7% at the tables for an overall 1.5% increase. It grossed $51.5 million. The Caesars Entertainment trio was up 1%, managing to gain 3% on slot win, an advance almost negated by 3.5% less table win on 7% less wagering and despite an astronomical hold percentage. Caesars Atlantic City grossed $22 million, an 8% increase, Harrah’s Resort reported $24 million, up 1% and Bally’s Atlantic City slid 9% to $13 million.

At the risk of burying the lead, Ocean Resort outperformed the competition rather spectacularly, skyrocketing Continue reading

Posted in Atlantic City, Boyd Gaming, Caesars Entertainment, Economy, Eldorado Resorts, Environment, FanDuel, Greenwood Racing, Hard Rock International, Internet gambling, Japan, Macau, Massachusetts, MGM Resorts International, Mohegan Sun, Ocean Resort, Penn National, Pennsylvania, Regulation, Rush Street Gaming, Sports betting, Tilman Fertitta, Tribal, Wynn Resorts | 3 Comments