Quote of the Day

“Our lives begin to end the day we become silent about things that matter.” – Dr. Martin Luther King Jr.

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Encore accused of cheating players

It didn’t take long for Encore Boston Harbor‘s first scandal to accrue. A class-action lawsuit against the casino is challenging its practices, particularly with regard to that eternal flashpoint, 6:5 blackjack. The suit contends that Encore is not complying with Massachusetts law with regard to ’21’ rules and slot payouts. In the case of the latter, Wynn Resorts is accused for only paying in round dollar amounts and pocketing the change. As for blackjack, Bay State rules require that 6:5 games must be played with one or two decks in the shoe but the lawsuit contends that Encore is loading up with six-shoe decks. It also asserts that, in contravention of state regulations, in which cards should be dealt face down and players are allowed to Continue reading

Posted in Las Vegas Sands, Macau, Massachusetts, Melco Resorts & Entertainment, MGM Resorts International, Wynn Resorts | Comments Off on Encore accused of cheating players

Encore Boston Harbor opens hot

JP Morgan analyst Joseph Greff has initiated coverage of Massachusetts and his first dispatch is a corker: Encore Boston Harbor generated $17 million in a single, debutant week of play. That includes $9 million of slot revenue. Wynn Resorts execs have got to be loving the slot/revenue mix of dollars (win/table/day of $4,151, almost triple MGM Springfield), to say nothing of the way-above-industry-average $361/win/slot/day. MGM Springfield, at $20 million for the month, has to be called a disappointment though not a flop, generating win/slot/day of a below-average $192. ($200/day is the desired average) Even if Plainridge Park grossed $13.5 million for third place (down 9%) is giving more bang for the buck than Springfield, generated slot win of $376/slot/day — better than Encore.

To put these numbers into an East Coast perspective, Borgata slot win is Continue reading

Posted in Atlantic City, Genting, Maryland, Massachusetts, MGM Resorts International, Mohegan Sun, Penn National, Pennsylvania, Twin River, Wall Street, Wynn Resorts | Comments Off on Encore Boston Harbor opens hot

Sports wagering, ‘Net bets power New Jersey; Slow month in Pennsylvania

Despite being 7% down on a same-store basis, Atlantic City casino revenues grew 14% last month. The $236 million gross represents a 3.5% downturn in slot winnings (down 8.5% same-store) but a 26% jump at the tables (down 3.5% same-store). At Borgata ($65 million), revenues were up 6.5%, including a 24% vault at the tables and despite win at the slots on 6% less coin-in. Unlike other Atlantic City casinos, the Caesars Entertainment trio got creamed at the tables (-21%) while slots slid 7% on 10.5% less coin-in. Leaving aside Hard Rock Atlantic City and Ocean Resort, for which no year/year comparisons were made available, Borgata had the only revenue-positive month. Hard Rock continues to solidify its new grasp on second place with $30 million, while Tropicana Atlantic City faded to $26 million, down 16%. (Eldorado Resorts better get a grip on things before this fade is out of hand.) Harrah’s Resort ($24.5 million) took a 17% knock and Golden Nugget got slammed, down 23% to $16 million. The upside for the Nugget is that it is soon to be making more from Continue reading

Posted in Atlantic City, Boyd Gaming, Caesars Entertainment, Eldorado Resorts, Greenwood Racing, Hard Rock International, Internet gambling, MGM Resorts International, Mohegan Sun, Movies, Ocean Resort, Penn National, Pennsylvania, Rush Street Gaming, Sports, Sports betting, The Strip, Tilman Fertitta, Tribal | 1 Comment

Eldorado’s clearance sale

Eldorado Resorts continues to slim down as it prepares for a takeover of Caesars Entertainment. Assuming the deal as a fait accompli, it is ditching Isle of Capri Kansas City in favor of Harrah’s North Kansas City. It is also shedding Lady Luck Vicksburg. The new owner of both will be Twin River Worldwide Holdings, broadening from its New England roots into wider regional operation and injecting an intriguing new name into the sale-and-acquisition fracas. The $230 million deal gives Twin River a second Mississippi casino (it also owns Hard Rock Biloxi) and an expanded presence in ‘flyover’ country between its Rhode Island and Delaware casinos and its three in Colorado. For Eldorado, the sale somewhat reduces the onus to cut costs by a half-billion dollars to make the Caesars deal fly.

The most strategic piece of the puzzle, for Twin River, is Kansas City, “where the property lies within an area near downtown that has been targeted by local officials for Continue reading

Posted in Arkansas, Caesars Entertainment, Carl Icahn, Eldorado Resorts, International, Japan, Mississippi, Missouri, Sports betting, Technology, Tribal, Twin River, William Hill | Comments Off on Eldorado’s clearance sale

Quote of the Day

“Insurance companies move in mysterious ways. Much like God … only far less generous.” — Standish (Dan Duryea) in The Flight of the Phoenix.

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Casino aspirants elbow for advantage; T-Rex derby in Washington

Full House Resorts and Spectacle Entertainment are jostling for position in Terre Haute—provided that Vigo County voters approve a casino for the city. But will it beat nearby Danville to the punch? “Pending a positive outcome on the referendum, I believe we will be ready to be aggressive with our timeline and ready to partner with the state … and the chosen casino operator to move forward quickly,” said Terre Haute Mayor Duke Bennett. “Our gaming commission is not going to be preoccupied with trying to license casinos in [other cities]. There’s just one casino on the table,” agreed Indiana Gaming Insight Publisher Ed Feigenbaum, alluding to the scrumdown of casinos and racinos rushing for approval in the Land of Lincoln.

Vermilion Advantage CEO Vicki Haugen says as many as six casino operators could vie for Danville, but she’s got to brush up on her casino history: Chicago, she said, would be sought by “the real big guys, the Continue reading

Posted in Arkansas, Connecticut, Election, Entertainment, Full House Resorts, Illinois, Indiana, International, Internet gambling, Japan, Mohegan Sun, Nebraska, Pennsylvania, Philippines, Slot routes, Spectacle Entertainment, Taxes, Virginia, Warner Gaming | Comments Off on Casino aspirants elbow for advantage; T-Rex derby in Washington

Quote of the Day

“I’m not surprised that 49 state attorneys general are investigating this practice. To me, advertising one rate but then having the actual rate depend on something buried in fine print feels a lot like false advertising.” — Boston Globe reader Scott Romanowski on the subject of resort fees.

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All-American Pet Photo Day

What is more all-American than cute photos of our pets? This is our latest adoptee, Cupid. My wife met her at the animal hospital, where it was love at first purr. Cupid has found herself a forever home and we’re all the richer for having her.

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Case Bets

Although we’ve learned to take Moulin Rouge revival projects with a shakerful of salt, the latest round of interest is drawing some serious players, such as the Southern Nevada Regional Housing Authority. Its piquant plan would mix affordable housing, dining and—yes—a casino. (Here’s your chance to get in on the ground floor, Frank Fertitta III.) The idea is to pay homage to the Moulin Rouge’s nightlife origins, at least in part. The idea is create a Continue reading

Posted in AGA, Atlantic City, Caesars Entertainment, Eldorado Resorts, Japan, Moulin Rouge, Ocean Resort, Oklahoma, Sports betting, Tribal, Wall Street | 1 Comment

Quote of the Day

“And when you go back home, you’ll see it tonight on television. You’ll see it wherever you see it. Today, there’s so many forms of looking at things, it’s hard to believe. As soon as you pick one, another one comes up and the first one is obsolete. But whichever way you look, you’re going to see some really nice — it’s –” —Donald Trump, unfiltered and unscripted, at Osan Air Base in Pyeongtaek.

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Ohio prospers, others don’t; Labor trouble at Eldorado

Maryland continues to show signs of casino saturation. Revenue ($143 million) was down 4% last month. Not even MGM National Harbor ($57 million) was immune, off 4%. Slots were up 10% but table games got walloped, down 19%. Still, MGM commands 40% of market share in the Free State, followed by Maryland Live with 34%. The latter slipped but 2%, to $49 million. Horseshoe Baltimore got lapped, fading 18% to $19 million. Ocean Downs‘ luck finally ran out, as a string of revenue-positive months gave way to a 5% stumble and $7 million. Hollywood Perryville was off 4% to $6.5 million. Over in West Virginia, revenue was down 2% despite 5% higher winnings at the tables. Hollywood Casino at Charles Town Races didn’t have good luck at the tables, down 9%, leading to a 5% overall decline.

No worries about contraction in Ohio, where casino revenues were up 4% last month, to $161.5 million. MGM Northfield Park led the way with $21 million but that was a Continue reading

Posted in Boyd Gaming, Caesars Entertainment, Carl Icahn, Churchill Downs, Cordish Co., Culinary Union, Dan Gilbert, Eldorado Resorts, Election, Florida, Full House Resorts, Indiana, Isle of Capri, Maryland, MGM Resorts International, Ohio, Penn National, Spectacle Entertainment, Station Casinos, Tropicana Entertainment, Unite-Here, West Virginia | 1 Comment

Cosmo in play; Wynn looking robust

Always a step ahead of the mainstream media, VitalVegas reports that The Cosmopolitan of Las Vegas has been sold. No details are available and the story hasn’t made the wire services, but that’s not going to stop us from speculating. The buyer probably couldn’t wait around for Eldorado Resorts CEO Tom Reeg to make up his mind as to whether or not he was going to sell Las Vegas Strip assets. Phil Ruffin openly covets a second Strip resort and if Planet Hollywood is out of reach, the Cosmo makes a good second choice. Speaking of seconds, jilted Caesars Entertainment suitor Tilman Fertitta is probably looking for some retail therapy. How much better might the Cosmo do if rebranded as a Golden Nugget? And even though it already has the Tropicana Las Vegas, don’t count out Penn National Gaming. If it wants a more state-of-the-art Strip resort we’d certainly understand. At any rate, those are the obvious candidates, although we wouldn’t rule out acquisitive Churchill Downs or another dark-horse candidate. After all, it must irk Full House Resorts CEO Dan Lee that he has to go out of town whenever he wants to visit one of his casinos.

While on the subject of VitalVegas, Scott Roeben is reporting a new round of Continue reading

Posted in Architecture, Churchill Downs, CityCenter, Cosmopolitan, Dan Lee, Dining, Eldorado Resorts, Macau, Massachusetts, MGM Resorts International, Penn National, Phil Ruffin, Resort fees, The Strip, Tilman Fertitta, Wall Street, Wynn Resorts | Comments Off on Cosmo in play; Wynn looking robust

Wynn stirs Boston melting pot

Wynn Resorts is already changing the face of Boston. As reported by the Boston Globe, unprecedented diversity is manifesting itself at Encore Boston Harbor. Mad props to Wynn for bringing people of all colors and creeds together in this fashion. (It must be the Jeff Koons Popeye.) Slot players were evenly divided between the sexes in a mix of blacks, whites and Asians. Latinos seemed to prefer the table games. “To those accustomed to seeing area restaurants and bars dominated by white faces, the contrast is stark, and casino visitors seem to have embraced the melting pot mix,” chronicled the Globe. Enthused African-American player Felicia Kornegay, “You know, a lot of places you go to, especially in Boston, you go and you feel excluded. You don’t feel that here.”

Added Giles Li of the Boston Chinatown Neighorhood Center, “In general, our community of working-class Chinese immigrants, they don’t Continue reading

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Rivers Casino’s threefold secret

It can be summed precisely as follows: location, location, location. Not only is Rivers Casino Des Plaines proximate to both Chicago and O’Hare International Airport, it sits at the nexus of two interstate highways, literally within a stone’s throw of I-294. Habitués of Las Vegas locals casinos might not impressed, architecturally speaking. You won’t see anything here you can’t readily find at M Resort or Green Valley Ranch. The buffet is solid but not outstanding (and you can only get crab legs on Tuesday), despite the stiff price: $29.95. The decor makes a fetish of the right angle, a frequently reiterated motif, softened by drop-down lighting fixtures that look like oversized Christmas balls.

No, what sets it apart is the absolutely feverish level of business that Rivers does. One sees in an instant why Churchill Downs wanted to Continue reading

Posted in Architecture, Boyd Gaming, Caesars Entertainment, Churchill Downs, Economy, Eldorado Resorts, GLPI, Golden Gaming, Harrah's, Illinois, Kazuo Okada, Macau, Penn National, Philippines, Rush Street Gaming, Singapore, Station Casinos, Steve Wynn | Comments Off on Rivers Casino’s threefold secret

Quote of the Day

“In this country, supermarkets are cathedrals.” — Sergei Malatav in The Wire.

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Second City uncertainty; Wyoming can’t cowboy up

Chicago‘s permanent casino could take “months or years” to achieve, even if Mayor Lori Lightfoot (D) says “I’m hoping we can get [the site selection] done relatively soon, so we can start the process.” Casino booster Sen. Terry Link (D) is also thinking positive, saying, “It could happen fairly quickly. If all goes according to plan, you could see gambling at a temporary site (for as long as 24 months) in less than a year.” Ah, yes, ye olde temporary casino. Chicagoans might look to the example of Detroit where all three companies were allowed to open temporary facilities at sites of their own choosing, on the understanding that they would relocate permanently to the waterfront. In the end, nobody moved, even if MGM Resorts International and (eventually) Greektown outgrew their temporary spaces into something permanent—but no closer to the river. Unfortunately for Windy City casino fans, Lightfoot has been exquisitely Continue reading

Posted in Architecture, Detroit, Entertainment, Florida, Hard Rock International, Illinois, International, Massachusetts, MGM Resorts International, Politics, Problem gambling, Regulation, Rush Street Gaming, Seminole Tribe, Taxes, William Hill, Wynn Resorts, Wyoming | Comments Off on Second City uncertainty; Wyoming can’t cowboy up

Quote of the Day

“Chinese tourists are a high-spending source market and their visitation numbers to the US have been growing rapidly in recent years.”—from a GlobalData report on the expansion of the China-driven, luxury-hotel market in the U.S., music to Las Vegas‘ ears.

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Touring Vegas; Bus to Nowhere; So long, Sammy

Paste Magazine is having one of those love/hate moments with Las Vegas that seem de rigeur for glossy publications. After a few preliminary digs at the Las Vegas Strip, it settles into a survey of the best places to go off-Strip. The fact that aforesaid choices are obvious ones is offset by their also being good choices—and values for the dollar, which is always important to emphasize ever since Sin City ceased to be a bargain destination. The Pinball Hall of Fame is tops on the list, followed by the Neon Museum, the Container Park, both Frankie’s Tiki Room and the Golden Tiki, and the Mob Museum, which now contains an operational speakeasy, which you can’t visit unless you know the password (Paste omits Continue reading

Posted in Cretins, Dining, Downtown, Entertainment, history, MGM Resorts International, Reno, Sahara, Sam Nazarian, Station Casinos, Terry Caudill, The Mob, The Strip, Tourism, Transportation | 1 Comment

Quote of the Day

“The alternate domination of one faction over another, sharpened by the spirit of revenge, natural to party dissension, which in different ages and countries has perpetrated the most horrid enormities, is itself a frightful despotism. But this leads at length to a more formal and permanent despotism. The disorders and miseries which result gradually incline the minds of men to seek security and repose in the absolute power of an individual; and sooner or later the chief of some prevailing faction, more able or more fortunate than his competitors, turns this disposition to the purposes of his own elevation, on the ruins of public liberty.”—from George Washington‘s farewell address. Happy Fourth of July!

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