MGM beats Maryland malaise

Maryland officially hit the saturation point last month, as revenues dipped 1%. MGM National Harbor ($58 million) wasn’t hurting, up 6%—with slots and table games gaining equally—and with 40.5% market share. Maryland Live ($48 million) was second with 33.5% but it came at a price: a 5% decline in gaming revenue. Horseshoe Baltimore ($18.5 million) fell 1o%, Hollywood Perryville ($6 million) ceded 5% while Churchill Downs managed to eke out a flat month—and $7.5 million—at Ocean Downs. That left Rocky Gap out in the burbs, where Golden Entertainment gained 3% for $5 million. In West Virginia, gaming revenue was Continue reading

Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Cordish Co., Dan Gilbert, Eldorado Resorts, GLPI, Golden Gaming, Hard Rock International, Horseracing, Illinois, Maryland, MGM Resorts International, Ohio, Penn National, Racinos, West Virginia | Comments Off on MGM beats Maryland malaise

Big casino bust in Biloxi

In a Mississippi bribery scandal, the crime in question took place—how fittingly—in a lavatory. Four men fessed up to bribing Department of Corrections Commissioner Christopher Epps with casino chips in return for such concessions as inmate phone services, unwittingly highlighting the corruption that runs rampant in the American penal system. After Epps was caught and pleaded guilty (he’s presently doing time), the quartet of malefactors moved on to Kemp County Sheriff James Moore.

Little did they know that Moore was the principal actor in an FBI sting. Busted! Although casinos are a popular vehicle for laundering money, the Biloxi casino that was Continue reading

Posted in Galaxy Entertainment, Genting, Japan, Las Vegas Sands, Law enforcement, Louisiana, MGM Resorts International, Mississippi | 4 Comments

Quote of the Day

“I don’t want to achieve immortality through my work; I want to achieve immortality through not dying. I don’t want to live on in the hearts of my countrymen; I want to live on in my apartment.”—Woody Allen

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Caesars: What sauce!; Macao underwhelms

With more than a bit of nerve, Caesars Entertainment is jacking up resort fees again. Caesars Palace and Nobu Hotel will have $51.01 in levies (the highest on the Las Vegas Strip, I think; is this a status thing?), while The Rio‘s impost will be $39.68. Resort fees seem to have become—pardon our language—a dick-measuring contest between rival CEOs. We sure wish they’d leave the consumer out of it. Of course, you can always stay at the Four Queens or Binion’s Gambling Hall and avoid this resort-fee madness altogether.

On a happier, Caesars-related note, Diamond members who achieve 25,000 tier credits are elevated to Diamond Plus status. This entitles them to Laurel Lounge access and a rewards card. But if you get to 75,000 tier credits, you become Diamond Elite and earn Continue reading

Posted in Baseball, Caesars Entertainment, China, Economy, Macau, Michael Gaughan, Mississippi, Mohegan Sun, Nevada, New Jersey, Politics, Problem gambling, Resort fees, Sports betting, Terry Caudill, Wall Street | 1 Comment

Wynn sued … twice

Steve Wynn is the gift you wish wouldn’t keep on giving. Wynn Resorts has been slammed with two lawsuits in a week, thanks to Wynn’s libidinous proclivities. According to Casino.org, “Steve Wynn, pressured [women] to not talk with the media, only to later joke about kissing female employees.” Former company president Maurice Wooden is quoted in the lawsuit as having told nine Jane Does not to speak with the press, which was taken as a threat. As for the anonymity of the plaintiffs—each of whom seeks $50,000—“Plaintiffs belief that public disclosure of their identities will subject them to further retaliation, humiliation and scorn, will invade their solitude and privacy and that of their families if it becomes known what lurid and abusive conduct was directed at them by Steve Wynn.”

No such trepidation for massage therapist Brenna Schrader, who is suing both the company and Wynn himself for fostering a Continue reading

Posted in Dan Gilbert, Dining, Economy, Entertainment, Greenwood Racing, Hard Rock International, Marketing, Massachusetts, Mohegan Sun, Ohio, Pennsylvania, Regulation, Security, Sexual misconduct, Sports, Steve Wynn, Transportation, Wynn Resorts | 1 Comment

MGM: Magnanimity, not culpability

The Associated Press has an hour-by-hour account of the MGM Resorts International settlement for the Mandalay Bay Massacre, the third-largest such outlay in U.S. history. Victims are generally happy with the outcome but the real bottom line is given by widow Heather Melton, who says no
amount of money can make up for the loss of her husband. Nothing has been said about MGM’s preemptive lawsuit against potential litigants but here’s hoping that bad idea has been dropped amid the general outpouring of magnanimity.

Although MGM admitted no culpability in the settlement, plaintiffs’ attorney Robert Eglet took the high road, telling CNN that  Continue reading

Posted in Atlantic City, Charity, Columbia Sussex, DFS, Entertainment, Law enforcement, Mandalay Bay Massacre, MGM Resorts International, Mohegan Sun, PokerStars, Sports, Technology, The Strip, TV | 1 Comment

This and that

Restaurant checks nationwide rose 3% last year but that didn’t keep Las Vegas out of WalletHub‘s #6 spot for foodies (cue operatic outrage from Sin City restaurant critics). Las Vegas hit the #1 spot for “affordability and accessibility of highly rated restaurants” but was pulled down by being 26th in average beer and wine price (well earned, sad to say) and 26th in craft breweries and wineries per capita—Ellis Island can’t do it alone. Sin City was also 26th in number of grocery stores per capita. On the upside, Vegas ranked #1 in coffee and tea shops per capita and fourth in restaurants per capita, as well as Continue reading

Posted in Dining, Downtown, Downtown Grand, James Packer, Steve Wynn, Terry Caudill, The Strip, Wynn Resorts | 1 Comment

Quote of the Day

“Against the insidious wiles of foreign influence, the jealousy of a free people ought to be constantly awake, since history and experience prove that foreign influence is one of the most baneful foes of republican government.”—George Washington, from his farewell address, 1796.

Posted in International | Comments Off on Quote of the Day

This just in …

It took two years but there is finally justice for the victims and survivors of the Mandalay Bay Massacre. They have reached a $735 million settlement with MGM Resorts International. That tab could exceed $800 million if more plaintiffs opt in. So far, the families of 58 victims are covered. Their lead attorney, Robert Eglet, said “While nothing will be able to bring back the lives lost or undo the horrors so many suffered on that day, this settlement will provide fair compensation for Continue reading

Posted in Colony Capital, Election, Mandalay Bay Massacre, MGM Resorts International, Resort fees | Comments Off on This just in …

Dog ate Parx’s homework; Atlantic City Hilton sold … again

Parx Casino is out $1 million after overpaying its taxes and missing the deadline to file for a refund. So says a Pennsylvania judge. Parx had three years to rectify the overpayment and missed the deadline by a whopping six months. Hey, when you’re rolling in dough as Pennsylvania’s top casino it’s easy to get amnesiac like that. The overage was $1,122,654.89, Parx having apparently miscalculated its slot revenue. It was an error that stretched over a two year period, 2009-11. Parx parent Greenwood Racing belatedly came around an applied for a refund in mid-2014, too late to get its money back.

Ruled Commonwealth Court Judge Kevin Brobson, “As reflected in the Court’s Memorandum Opinion, we sided Continue reading

Posted in Atlantic City, Caesars Entertainment, Colony Capital, G2E, Genting, Greenwood Racing, history, Japan, Mandalay Bay Massacre, MGM Resorts International, Politics, Resort fees, Rush Street Gaming, Security, Singapore, Sports, Sports betting, Taxes, Technology, Wall Street | 3 Comments

Doldrums, hope in Baton Rouge; AGA inducts three

It’s 25 years ago this month that casino gambling came to Baton Rouge. The mood, however, is far from celebratory as the city’s riverboats remain mired in a two-year slump, thanks to the Baton Rouge smoking ban. Some also blame a lack of capex maintenance at the three casinos, as well as stronger competition from Mississippi, which has—unlike Louisianasports betting. Ironically, the downward slalom began just as Baton Rouge were at their apogee: $309 million at the end of fiscal year 2017. By the end of FY2019 that number had dwindled to $235.5 million. Not chicken feed but a lot less than the good old days.

Not surprisingly, the casino that has defended its market share the best is also the newest: Continue reading

Posted in AGA, Arkansas, Eldorado Resorts, Environment, GLPI, history, Illinois, Louisiana, Mississippi, Penn National, Pinnacle Entertainment, Regulation, Sports betting, Taxes, Technology, The Strip, Tribal | Comments Off on Doldrums, hope in Baton Rouge; AGA inducts three

Hard Rock elected in Rockford; Palms prexy out

That was quick. Rockford Mayor Tom McNamara and city staff have tapped Hard Rock International to develop the city’s new casino, forwarding their recommendation to the Illinois Gaming Board. The Hard Rock bid was aided, if not clinched, by the promise of at least $7 million in annual gaming-tax payments to the city. “Hard Rock has the strongest and most complete proposal. It’s financial structure is credible. The Hard Rock proposal includes realistic and sustainable minimum gambling tax guarantees, along with additional revenue from payments to offset impacts to the city,” said McNamara.

Assuming the city’s recommendation is accepted by the state, Hard Rock will open a temporary casino at Continue reading

Posted in Hard Rock International, Illinois, Las Vegas Sands, Law enforcement, Macau, MGM Resorts International, Palms, Sociedade de Jogos de Macau, Wall Street, Wynn Resorts | Comments Off on Hard Rock elected in Rockford; Palms prexy out

Quote of the Day

“One’s life has value so long as one attributes value to the life of others, by means of love, friendship, indignation and compassion.”—Simone de Beauvoir

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Illegal slots run amuck in Missouri

With the casino industry so entrenched in Missouri you wouldn’t think there was a market for black-market slots. You’d think wrongly. The Missouri Gaming Commission has received 84 complaints alleging 200 instances of rogue machines. Casinos aren’t the only ones irked. The state lottery is upset, as are some business owners. The Lottery believes it is out $50 million ticket sales from an underground industry that is believed to extend to 14,000 slots.

If you pull up at the Philips 66 gas station in Claycomb, you can play at any one of the four slot machine operating merrily there, in full defiance of state law. Among those scoffing at said law is Continue reading

Posted in Atlantic City, Caesars Entertainment, Florida, Horseracing, Law enforcement, Lotteries, MGM Resorts International, Missouri, Mohegan Sun, Ocean Resort, Politics, Racinos, Regulation, Technology | Comments Off on Illegal slots run amuck in Missouri

IGT at center of Rhode Island scandal; #MeToo spreads

Gina Raimondo (D) may be friends with Michelle Obama but that’s not going to get out of the International Game Technology lottery scandal. Gov. Raimondo was at the state capital a week ago to defend her controversial decision, a move that came as Twin River casinos took out a full-page ad blasting the contract award, which would force Twin River to pack its floor with IGT-made slots. The game maker is on pace to control 84% of Rhode Island slot floors, even though state law it ought to be limited to 50%.

The Rhode Island Lottery Commission has already moved to yank 360 slots from Tiverton and Twin River casinos, contending that their financial performance was not up to contractual requirements. Trying to distract her critics, Raimondo reframed the issue as Continue reading

Posted in IGT, Internet gambling, Las Vegas Sands, Law enforcement, Lotteries, Money laundering, Philippines, Politics, Regulation, Rhode Island, Sexual misconduct | Comments Off on IGT at center of Rhode Island scandal; #MeToo spreads

Quote of the Day

“She challenged all of us to live up to our full potential and to represent something larger than ourselves. She will be greatly missed.”—obituary tribute to singer and philanthropist Jessye Norman, who died yesterday at age 74.

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Resort fees assailed; Hard Rock rocks Rockford

Resort fees, the bane of customers to Las Vegas, are inspiring some congressional action. Lawmakers Rep. Eddie Bernice Johnson (D) and Rep. Jeff Fortenberry (R) are collaborating on a bill that would outlaw resort fees (it’s the Hotel Advertising Transparency Act of 2019). The bill states that “advertising that does not reflect the true mandatory cost of a stay at a place of short term lodging is deceptive.” It would forbid “a rate for a place of short-term lodging that does not include all required fees, excluding taxes and fees imposed by a government.” The bill would be enforced by the FTC, while state attorneys general would be empowered to crack down on resort fee-ing hotels.

“Not only will this bill require upfront disclosure of all fees in the advertised price of a hotel room, but it will require Continue reading

Posted in Eldorado Resorts, Hard Rock International, Illinois, International, MGM Resorts International, Phil Ruffin, Politics, Problem gambling, Racinos, Regulation, Resort fees, The Strip, West Virginia | Comments Off on Resort fees assailed; Hard Rock rocks Rockford

Quote of the Day

“Capital remains cheap, real estate on the Strip is scarce, construction costs are high, making development prohibitive, the Las Vegas business outlook for 2020 remains strong, private equity firms are loaded up with plenty of dry powder, and REITs (real estate investment trusts) are hungry for growth … a formula for continued consolidation and ultimately valuation appreciation.”—Union Gaming analyst Joseph DeCree on the seller’s market in Las Vegas Strip real estate.

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More from the Police Blotter; Adelson, il duce

Phil Ivey may owe Borgata $10 million for cheating at baccarat but the casino’s not going to overlook the chicken feed he makes in other tourneys. Borgata has set its sights on the $124,410 Ivey won in the last World Series of Poker (plus $214,000). Since Borgata is owned by MGM Resorts International, it’s not like it lacks Vegas-based representatives to go after its money. In fact, the WSOP was hit up with a writ of execution. Next thing you know, they’ll be coming after Ivey’s Nevada pied-a-terre. Life’s not easy when you try to cheat Borgata and get caught.

* Dive bar Smuggle Inn got caught in the War on Drugs and Continue reading

Posted in Atlantic City, Entertainment, history, Hooters, Law enforcement, MGM Resorts International, Regulation, Sexual misconduct, Sheldon Adelson, World Series of Poker, Wynn Resorts | Comments Off on More from the Police Blotter; Adelson, il duce

Odds favor Trump; Whistleblower scandal at Caesars

Donald Trump has an excellent chance of surviving both the present impeachment inquiry and the 2020 election. That’s not punditry: It’s oddsmaking. BookerMaker.eu places The Donald as a 10/1 long shot for being unseated. Ironically, Trump nemesis Nicholas Maduro of Venezuela, despite everything he’s done, is an even longer shot, at 16-1. The likeliest world leader to be deposed is Canada’s Justin Trudeau, at 5/4, followed by Great Britain‘s unpredictable Boris Johnson at 3/2. Said oddsmaker Angus Dagglass, “While each leader is embroiled in their own political maelstrom, it’s the timing of the Continue reading

Posted in Atlantic City, Caesars Entertainment, Canada, Conventions, Donald Trump, Economy, Election, International, Internet gambling, Sexual misconduct, The Strip, Tilman Fertitta, Wall Street | Comments Off on Odds favor Trump; Whistleblower scandal at Caesars