“The door of a bigoted mind opens outwards so that the only result of the pressure of facts upon it is to close it more snugly.”—Ogden Nash
casino does not have “any reasonable prospect for becoming financially self-sustaining in the future.” Genting Group maintains that Resorts World Catskills is doing better, but only very incrementally: It lost $37 million in the first quarter, $36 million in 2Q19. Things are so bad that Empire petitioned New York regulators to allow it to curtail the slot floor. Lawmakers also quietly slipped a deal for Empire Resorts to build a slot parlor in Orange County, a New York City suburb.
Mohegan Sun for the shortfall: We may have underestimated that level of loyalty and what it would take for those customers to give us a shot.” Stressing the positive, he said the casino has brought 6 million people to downtown Springfield. He also bragged on the casino’s restaurants and entertainment lineup. More to the point, revenue was not negatively impacted by Encore Boston Harbor in either June or July. That makes sense, given the vast geographical distance between the two casinos. One would not expect Bostonians to drive out Springfield for a bit of a flutter. As for high rollers, Rev. Richard McGowan of Boston College said, “Face it: where would you rather go [if you were a high roller]? Are you going all the way down to Twin River?”
Stephanie Rose had asked the National Indian Gaming Commission to revisit its 2017 finding of eligibility for the Ponca, that reconsideration voided said 2017 ruling. Rose disagreed, adding that “the disruptive consequences [to the Ponca] would have been significant.” Employees of the casino would lose jobs and the tribe’s revenue stream would be impeded. “Other courts have declined to vacate agency decisions when doing so would have adverse economic consequences,” Rose wrote, getting in the kicker: “It is not clear … how the Tribe’s casino is any more detrimental than the three casinos, licensed by the state of Iowa, that are already operating in neighboring Council Bluffs.” It’s the prerogative of the plaintiffs to keep appealing but they ought to consider folding what has been a losing hand.
many years, if not decades. The return on investment profile for all five sites is subpar, if not negative over the five years projected.” Translation: You’d have to be awfully desperate to bid on this project. The hits kept on coming. “Tourists generally will not patronize a casino in an area that is inconvenient relative to where they are staying or perceived as unsafe, nor will tourists be eager to book a room at a casino’s hotel if there are no other easily accessed attractions nearby. For these reasons and more we would not expect a material number of tourists to patronize any of the five sites analyzed herein. Instead, these sites will primarily draw patrons from persons living within close proximity.” Which, since Mayor Lori Lightfoot (D) wants to put the casinos in the slums, means the “persons living within close proximity” won’t have much money with which to gamble.
as almost $1.6 million/day in win, an amount that ought to salve the $35.5 million in fines Wynn Resorts had to pay to play in the Bay State. Representing 25% of market share, MGM Springfield grossed $20.5 million, flat with July 2018, while Plainridge Park won $12.5 million (-20%). Those Plainridge Park numbers are better than they appear, as the racino did an above-average $337/slot/day. Encore’s tally was $216/win/slot/day and MGM Springfield took in $196/win/slot/day.
until at least October 2020, possibly until the following January. That spares customers from having to stay in a construction site, as the hotel is rethemed in stages (the original plan) but it seems hella risky to have a prize asset sitting there as a passive pile of concrete, generating no cash flow for eight to 11 months. One can take consolation in the fact that when the resort reopens as the Virgin, it will indeed be unsullied and fresh to the market, with the cachet that comes with the debut of a megaresort.
state of the economy, rushed to long-term safe haven assets, pushing the yield on the benchmark 30-year Treasury bond to a new record low on Wednesday.” While the economy outwardly appears to be performing well, it should remembered that the Great Recession seemingly came out of nowhere in 2008, at the apex of the casino industry, and caught Big Gaming with its pants down. In a related move, Donald Trump tried to 
conduct, and resisting arrest after he allegedly became uncooperative and combative with a club security officer and police.” 
worse. “It said citizens’ rights were being violated and dozens were kidnapped, tortured and physically abused by local employers who confiscated their passports,” reports Reuters. Also of concern to China is the vast amount of money being siphoned off by its neighbor to the south. In an official statement, the central government called for “concrete and effective measures to prevent and punish the Philippine casinos … and other forms of gambling entities for their illegal employment of Chinese citizens and crack down [on] related crimes that hurt the Chinese citizens.”
weather from Hurricane Barry, plus intensified competition in the Louisville area. Both racinos were revenue-positive, with Hoosier Downs up 4% to $16.5 million and Indiana Downs rising 5% to $22 million. Belterra was flat at $10 million. Hardest-hit was market leader Horseshoe Southern Indiana, falling 12.5% to $18 million. Tropicana Evansville grossed $12.5 million (-6.5%), Rising Sun sank 6% ($4 million) and Hollywood Lawrenceburg won $15 million (-5.5%). Independent French Lick Resort was down 2% to $8 million.
the Koran forbids it but that’s hardly stopping anyone. Egypt stands out with roughly 15 casinos, supposedly off-limits to citizens. However, Middle Easterners often hold dual citizenship, so just show your alternate passport and you’re in. (Have they thought of this in Singapore?) It’s surprising that Egyptian casinos flourish considering that they are levied a punitive 50% tax rate, collected daily. If you had a revenue-negative night, too bad. Pay the man. Like Egypt, Morocco forbids citizens to gamble but supports seven high-end casinos.
unemployment stands at almost 6%. Pine Bluff Mayor Shirley Washington is aware of the pitfalls that can come with casino development. “In the research that I’ve done to see why casinos weren’t working in some other places, they said it was because there was nothing else to do, like in Tunica, for instance,” she told a newspaper. “So we feel like there will be people who will come to the casino but there’ll be people who will travel with them who will want to go to restaurants and to other amenities that we will develop as we move forward.” Let’s hope such development can be accomplished -
Recent Posts
- You can’t fix stupid; Good-bad news on the bayou
- If you can’t beat ’em, cheat ’em; Fun & games
- Pennsylvania soggy; Epic fail in North Carolina
- Sibella scandal spreads; Supremes forestall Seminoles
- Atlantic City rebounds; Sibella dumped; NFL suspicions
- MGM limping back; Atlantic City follies; Wall Street Jottings
- On and off the radio
- MGM crippled; Illinois & Indiana report; Bally’s shaky in Chi
- MGM paralyzed; DraftKings debacle; Mount Airy wins
- Bally’s opens, Chicago yawns; MGM, tree murderers
Categories
@Stiffs_Georges
Error: Invalid or expired token.-
Archives
Recent Comments
- Alice Eskandari on Durango Station, slightly downsized
- David McKee on You can’t fix stupid; Good-bad news on the bayou
- American Gaming Guru on You can’t fix stupid; Good-bad news on the bayou
- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
- David McKee on Sibella scandal spreads; Supremes forestall Seminoles
- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
- David McKee on MGM crippled; Illinois & Indiana report; Bally’s shaky in Chi
- Paul Shanahan on MGM crippled; Illinois & Indiana report; Bally’s shaky in Chi
- ACGambler on MGM limping back; Atlantic City follies; Wall Street Jottings
- Bob on Bally’s opens, Chicago yawns; MGM, tree murderers
Views
- Sibella scandal spreads; Supremes forestall Seminoles - 56,351 views
- You can’t fix stupid; Good-bad news on the bayou - 56,253 views
- If you can’t beat ’em, cheat ’em; Fun & games - 54,674 views
- Pennsylvania soggy; Epic fail in North Carolina - 55,609 views
- Atlantic City rebounds; Sibella dumped; NFL suspicions - 55,589 views
- Profit vs. investment on the Strip - 1,055,343 views
- Lame nag; Frissora overpaid? - 578,475 views
- The evils of bingo; Wynn’s Aqueduct exit - 90,473 views
- That casino smell - 63,600 views
- Bally’s opens, Chicago yawns; MGM, tree murderers - 58,135 views
- MGM crippled; Illinois & Indiana report; Bally’s shaky in Chi - 57,722 views
- MGM paralyzed; DraftKings debacle; Mount Airy wins - 57,135 views
- MGM limping back; Atlantic City follies; Wall Street Jottings - 56,766 views
Blogroll
Admin.