For sale: One casino riverboat, heavily used. The former Trump Princess, now Majestic Star II, is on the market for $6 million, along with its sister ship, also costing $6 million. If you want to live large like Donald Trump, here’s your chance. Considering that the two boats cost 
$90 million to build, you’re getting a heck of a bargain. Of course, you’ll have to forego the 1,620 slot machines and 63 gaming tables (the gaming license goes to Terre Haute) but you can fit at least 2,900 of your friends and relations aboard Trump Princess. Broker Storti Marine Services is also selling Caesars Entertainment‘s Glory of Rome riverboat, former home to Horseshoe Southern Indiana. When The Donald got out of Hoosier State gambling, he sold his vessel to Don Barden for $253 million. And people wonder why Barden went bankrupt. (Could Trump go to Continue reading
$99 million also beat expectations. It will be a year before the Brazil lottery contract is incepted, with upfront payments spread out over an eight-year period. In addition to new lottery contracts in Florida, Italy and Turkey, Scientific was able to pay down $55 million in debt (still leaving the company heavily leveraged). Overall, gambling revenue was up 1.5%, social-gaming revenue was up 9% and lottery revenues rose 6.5%. R&D expenses were curbed 5% and “other” fell 64.5%. So it’s not like Scientific isn’t trying to 
“You’re in China now, sir, where time and life have no value.”—Henry Chang (Warner Oland) in Shanghai Express, written by Jules Furthman. It’s my favorite Marlene Dietrich picture and my wife’s least favorite.
“focus exclusively on the transfer of real estate and have no bearing whatsoever on the property’s management or operations … These transactions have no impact on employees, partners or the guest experience.” Springfield Mayor Dominic J. Sarno intends to hold MGM to that, saying he would enforce MGM’s host-community agreement. Also, it’s not as simple as transferring the deed to MGP. The Massachusetts Gaming Commission has to approve the REIT sale, as it did earlier with Plainridge Park.
monetization plans, ability to meet its 2020 targets, and a healthy LV Strip market.” Among other things, the Bellagio sale was described as an initial, not late, step in deriving money from real estate sales. In case you were wondering what MGM was going to do with all that money, its priorities are “(1) reduce debt, (2) repurchase shares (on its 3Q call, MGM said it will repurchase $750m of shares by year-end 2019), and (3) provide dry powder for growth investments down the road.” #3 is a very low priority as no major capex projects are planned. Getting leverage down to 1X equity was described as “paramount.”
and mass growth there remains in attractive growth territory.” A renovation of part of Wynn Macau‘s casino floor is expected to improve results in late 2019. On the Las Vegas front, the opening of the new convention center is also expected to move the needle and “allow it to grow high-margin room revenues and capture more share of the group segment.” The reopening of the golf course is also anticipated to help drive table-game revenues.
the tables, plunging 36%, which negated a slots gain of 6%. Since slots are taxed at a much, much higher rate in Maryland, that’s not the direction in which MGM wanted to go. Its market share was 41.5%, compared to Maryland Live‘s 33.5%. The latter gained a percentage point to close out the month with $47.5 million in the kitty. Horseshoe Baltimore, with 13% market share, grossed $19 million for a 9% decline. Ocean Downs was up 9% to $7 million, Hollywood Perryville was flat at $6 million and Rocky Gap Casino was up 6.5% to $5 million.
gambling, its experiments with high-end nightclubs have been less than auspicious. Anyone remember Cherry at Red Rock Resort? I thought not. Yesterday, Palms brass released a statement saying that the KAOS nightclub was closing “effective immediately. While Palms has experienced exceptional growth across the gaming and non-gaming segments of the business, the expense side of the business has been challenging to date, due in large part to the entertainment and fixed cost structure associated with KAOS.” Ergo, Station will “reassess the programming and use of the space,” which will be diverted to meetings and special events while the reassessment moves forward. (KTNV-TV confirmed the news, throwing in a copy of an internal Station memo, one that offered a soft landing for potentially terminated KAOS employees.)
is the most striking casino-hotel design since Marina Bay Sands, 
become increasingly competitive.” Both Encore Boston Harbor and MGM Springfield are looking at $100 million revenue-projection shortfalls, and Encore has been gobbling up some of Plainridge Park‘s business. The Massachusetts Gaming Commission‘s Enrique Zuniga seems to have grasped 
build a horse track and slots parlor. Never mind that the Lege pretty clearly spelled out its intent eight years ago when it authorized one slots parlor and three resort casinos, one of which remains unbuilt. Also, two different bands of Wampanoag Indians are waiting in the wings with casino projects of their own, also in the southeastern part of the state. Massachusetts wouldn’t need to authorize a fourth private-sector casino if lawmakers were to lift the 
announcing a slew of updates/capital projects which helped placate investors, especially those with a longer-term focus.” These include a 300-room hotel at the company’s eponymous racetrack and two ‘historical racing’ facilities, one at Turfway Park in Kentucky. Politzer ratcheted down his estimate for CHDN’s online wagering by 16%, to $63 million “but believe there could still be near-term earnings volatility relating to CHDN’s launching of its sports betting/iGaming business, as well as at TwinSpires, which is still seeing competition for high-volume/low margin players. Higher salaries and benefits (as well as property taxes) also led to the miss.
door to Citizens Bank Park (baseball) and close to Lincoln Financial Field
sweetheart lottery contract for International Game Technology, Smiley wrote to Twin River. “He asked me not to go scorched earth and oppose the deal,” according to casino Executive Vice President Marc Crisafulli, in a letter to lawmakers who are examining the controversial IGT deal. Smiley allegedly threatened Twin River with a regulatory probe if it publicly went against the contract. (Twin River did anyway.) “Mr. Smiley’s message was crystal clear: If Twin River opposed the IGT legislation, which was being introduced that day, we would suffer regulatory consequences with the state,” Crisafulli wrote.
for construction,” which is the first movement on the megaresort that we’ve seen in a long, long time. Completion is estimated to happen sometime in the second quarter of 2022. Baldwin, having overseen the development of CityCenter (and later, the Vdara Death Ray) is no stranger to inheriting other people’s problems. He’ll have his work cut out for him at The Drew, formerly the hopelessly dysfunctional Fontainebleau. No cost estimate for completion was given but it will run into the billions, one of the reasons F-blew was abandoned back during the Great Recession.-
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