Just as the clock was running out for Caesars Entertainment to name a new CEO, Carl Icahn‘s preferred candidate, Anthony Rodio, came 
across the transom, fresh from Affinity Gaming. Or so the Wall Street Journal says and the WSJ is rarely wrong. According to JP Morgan analyst Joseph Greff, Caesars “will formally begin to evaluate takeover interest with the hiring of a named investment bank.” Icahn still gets a fourth seat on the Caesars board because Rodio takes that occupied by outgoing CEO Mark Frissora. Greff says the seat was difficult to fill given that it might be merely a caretaker job, discouraging one other “oft-discussed” candidate (Anthony Sanfilippo?). Rodio was Icahn’s go-to guy at Tropicana Entertainment, so it’s understandable that Uncle Carl would have an ‘affinity’ for Rodio at new-look Caesars.
However, Rodio “gives CZR the flexibility of guiding CZR through the process of potentially selling itself and if a change in control transaction doesn’t materialize, gives CZR a CEO with a Continue reading
place, as the bidding for Caesars—expected to begin in earnest next week—heats up. According to the New York Post, it is only a matter of days before the Caesars board announces that a sale is on. Tilman better break open his piggy bank: Caesars still carries a groaning $23.6 billion in debt (which makes one guardedly pessimistic about the wisdom of a sale), a morbid legacy from Gary Loveman, so the Roman Empire isn’t going to come cheap.
driven by high-tax slots (up 11%), not low-tax table games (down 4%). National Harbor was dominant in market share, with 38.5%, compared to Maryland Live‘s 34% and Horseshoe Baltimore‘s 16%. Maryland Live gambling win vaulted 19%, to $56 million, while the ‘Shoe did $25.5 million (+3%). Ocean Downs jumped 12.5% to $6.5 million, while Hollywood Perryville was flat at $7 million. Out in the boonies, Rocky Gap Resort gained 9% to $5 million. Next door, West Virginia had 
“expansion” of gambling in Indiana. Doubtless he would come down on the “does” side of a state House proposal to—rather than move an existing license—
In an obvious attempt to placate the Massachusetts Gaming Commission, after a bruising set of hearings, Wynn Resorts 
Ocean Resort. Far be it from us to make the argument that competition should be repressed to keep profit margins high. Two casinos did it right: Both Tropicana Atlantic City and the Golden Nugget saw higher gross operating profits in 2018. The Nugget was up 12.5% to $45 million and the Trop inched up 1.5% to $93.5 million. Borgata had the most to lose and it did, off 19% to $206 million. Both new casinos reported operating profits—Hard Rock $9 million, Ocean Resort double that. Resorts Digital had a terrible year, spiraling 75% downward.
would try to run out the clock, then say to Attorney General Maura Healy, “Hey, they spent $2.6 billion, the building’s finished and all these people have jobs waiting for them. Let’s cut the company some slack.” 
“Everyone else in the gambling industry thought it was the dumbest idea ever. Now all the naysayers would cut off their right arm to get a piece of land there. I’ve got a warehouse full of arms, and a couple of left ones, too.” — Las Vegas Sands CEO Sheldon Adelson, 
shoelaces together. The transaction, while would transform Wynn into a Australia-centric company, 
world. The deal leaves Gilbert still in control of Jack Cleveland, racino Jack Thistledown and with a minority stake in Jack Baltimore. If Gilbert is playing one side off the other to get the best deal a la carte I’d saying it’s a winning strategy. It also explains why Hard Rock was not only so tractable to selling Northfield Park but were quick to take their name off the racino. The deal is valued at $780 million. Now let’s rid of that ridiculous “Jack” brand, which reeks of douchebaggery.
necessity the mother of dire invention, Gov. Ricardo Rosselló has proposed the 
a major success. He will build a new hotel, a “state of the art” arena and additional convention space, all to the tune of $3.3 billion. In return, Las Vegas Sands will assent to paying higher taxes and Singaporean casino patrons will be assessed a costlier entry fee. “The expansion will enable to LVS to grow via new investment in an attractive market, albeit with increased costs,” wrote JP Morgan analyst Joseph Greff.
gambling and residential complex in downtown Calgary. Obviously New Urbanism is still alive and well in Murrenville. Whether spending over $5 billion on the Calgary market is utterly daft or not remains to be seen. Those $9 billion-$10 billion overtures to Japan have obviously loosened the lion’s purse strings. Calgary has been promised “a significant economic and tourism boost.” The jury’s still out on that one in Springfield but perhaps since Calgary is a major metropolitan area MGM will have a running start.
reeks of insecurity. Dan Gilbert, if you’re ever going to make a run for the top spot in the Buckeye State, now’s your chance. The Hard Rock brand powered the slots-only racino to #1 consistently. The switchover will be an acid test of the power of the MGM brand against the Hard Rock one.