It’s official: Mohegan Gaming & Entertainment will be the casino manager of Virgin Hotel Las Vegas. “Aligning the MGE brand with Virgin Hotels Las Vegas extends our growing reach 
into yet another legendary global entertainment capital. Together with Virgin Hotels, experience seekers all over the world will have the opportunity to partake in an extraordinary guest journey that only our strategic alliance can deliver,” proclaimed Mohegan CEO Mario Kontomerkos. Virgin will be replete with brand names. In addition to Mohegan Sun running the casino, J.C. Hospitality will operate the hotel and the whole shebang will be marketed through Hilton‘s Curio Collection. And let’s not forget AEG, the new booking agent for The Joint. Virgin Hotel represents the first tribal casino on (well, near) the Strip. Can Hard Rock International be far behind?
Speaking of Hard Rock and Mohegan Sun, they’re the Continue reading
grossed $85.5 million last month, MGM did $21 million and Plainridge $12 million. That breaks down to $1.7 million a day for Encore, $676K in Springfield and $390K in Plainville. The latter took a 21.5% hit from Encore but still did an impressive $325/win/slot/day. JP Morgan analyst Joseph Greff is predicting Plainridge Park will decline 19% in the quarter, compared to his initial projection of 10%. Expect Penn National Gaming to clamor even louder for table games.
blowout (-15% on 7% less wagering) at Borgata—$72 million—was responsible for only 1.5% revenue growth, nearly negating slot win that was up 9% on 6.5% higher coin-in. Still, Borgata is tracking to finish the quarter up 7.5% against Wall Street projections of a 4% slump. As a group, the Caesars Entertainment triptych held the line pretty impressively, up 4% on 4% higher table win (with 6% more wagering) and 4% higher slot win despite flat hold. Harrah’s Resort was flat at $31 million, Caesars Atlantic City jumped 10.5% and Bally’s was flat at $19 million. In sum, Caesars A.C. dramatically outperformed the market and carried its two brethren.
were MGM Resorts International (“its LV Strip exposure next year should be a big positive”), Boyd Gaming (“regional and LV Locals trends remains steady, free cash flow underappreciated, with a primary focus on reducing its balance sheet leverage/net leverage ratio, and don’t foresee any irrational [mergers and acquisitions], an investor concern of late”) and a company whose Las Vegas Strip presence is easily forgotten, Penn National Gaming (Greff thinks it’s under appreciated in its ability to pay down the leverage on its balance sheet).
Circus brings with it. CityCenter North was killed by the Great Recession, Rock in Rio was a flop and the weak performance of nearby SLS Las Vegas surely discouraged casino development. Don’t look for the clown casino to bring big bucks on the market: JP Morgan analysts continually peg its value at 8X cash flow. Maybe all the underdeveloped real estate will raise that up a bit but you’re buying in a rough neighborhood, one that customers have long since fled.
environment (we’re still struggling with the latter over here). “From the results, it is actually quite a surprise to us that most respondents have chosen topics related to a healthy working environment, rather than salary increments,” said New Macau Gaming Staff Rights Association Vice Director Jeremy Lei. The slate of requests will be one of the first tests of new chief executive Ho Iat Seng‘s administration.
flow as well as to help support the new, trackside hotel. The latter will have suites that can be converted into luxury skyboxes, while some lesser rooms would come with personal seat licenses. “CHDN looks to its European and Japanese Road to the Derby as attracting/increasing sponsorship value, while also helping to bring well-heeled international customers to the Derby,” wrote JP Morgan analyst Daniel Politzer.
The peppery owner of the Golden Nugget, S&G favorite Tilman Fertitta, will be signing copies of his Shut Up and Listen! at the Nugget on Sept. 28, starting at 3 p.m. He’ll only be giving autographs for an hour, so get there early.
though to underline the issue, this week was marred by a tragic incident at Graton Resort & Casino. A suicidal, 24-year-old man tore himself away from sheriff’s deputies after a half-hour of negotiations and plunged five floors to his death. Geoffrey Wise Bertagnolli and his wife had apparently been living out of their car, although whether that was the cause of Mr. Bertagnolli’s desperation remains unknown. We hope the coming days throw 
million. The saving grace, perhaps, was that August 2018 saw revenues grow 5% but then why did 2019, with its additional weekend day, display even a smidge of further growth? Beneath the calm surface some dramatic swings and roundabouts were taking place, though. This was especially true of the southern tier.
represented a 4% gain while Hollywood Toledo hauled in $17 million, a 3% gain. The Columbus casino is gaining on MGM Northfield, clinging to first place with $21 million, a 3% decline. MGM’s was one of only two revenue-negative performances in the Buckeye State. Jack Cincinnati slid 3.5% to $17 million. Jack Cleveland, finally living up to its market, gained 3% to $18 million. Nearby Jack Thistledown leapt 11% to $12 million. Hollywood Dayton vaulted 13% to $12 million and Hollywood Mahoning Valley gained 8% to $11 million.
reduced the tax rate, you may actually still provide the same, if not more, gaming revenue to the state because you’ll have more business,” says general counsel Stacey Rowland. What’s particularly irksome is that Greyhound and other bus lines are running $25 fares to MGM Springfield, which are offset by $25 in free play and $20 in food credit. Hell, for those benefits I’d hop on a bus to Springfield. “It’s very hard to compete with a Springfield when 
After two years of knowing that Encore Boston Harbor was headed their way, Penn National Gaming is wailing for table games at Plainridge Park. Another developer wants a racino, even though the law stipulates only one. And Region C still lacks the authorized casino. Here’s a radical idea: Let’s let the law take its time to function as intended before we go running around with our hair on fire.
million, with low-tax table games up 10% as opposed to only 4% for high-tax slots (in other words, just as MGM likes it). Horseshoe Baltimore fell 13% to $18 million and Hollywood Perryville was off 3% to $6.5 million. Maryland Live was up 13% to $53 million, while MGM recorded a 7% gain. Ocean Downs galloped ahead 6.5% to $9 million and Rocky Gap Resort leapt 6% to $5.5 million. In West Virginia, good luck at the table (+11%) made up for a lean August at the slots (-5%). Penn National Gaming‘s racino didn’t share in the good fortune, experiencing a -14% blowout at the tables.