“Protecting vulnerable consumers is our prime concern, and it must be the priority for gambling operators too. There are robust
requirements to safeguard players and prevent money-laundering which all businesses must adhere to if they wish to operate in the British market. I am pleased to see the Gambling Commission taking the strongest possible action when companies fail to meet their obligations.” — Secretary of State for Digital, Culture, Media & Sport Jeremy Wright, commenting on a wide-ranging crackdown on Internet sites which had insufficient anti-money-laundering and problem-gambling provisions on their Web sites.
operational. This makes Horseshoe Tunica Caesars’ only remaining casino in the market. The move may have been in response to the November election, which saw voters in Arkansas approve racinos in the eastern part of the state. As Caesars said, the “difficult decision follows persistent declines in business levels in the area stemming from increased competition.” The casino will cease doing business at the end of January, although it’s unlikely the 377 employees will be able to find jobs elsewhere in the besieged Tunica market. (The hotel is run with a skeletal staff of 
5%) and consumer confidence (6% higher). Nevada has surpassed the $1 billion/month mark five times in 2018. Another month like October would 
was understandably giddy at the news. “Agreements between sports leagues and the gaming industry enable all sports stakeholders to work together to eliminate the illegal sports betting market,” she enthused. “With MLB’s announcement today, three major sports leagues now have official sports betting partners – evidence of our continued commitment to protecting the integrity of both consumers and sporting competitions and that contracts remain preferential to statutes in all sports betting deals.” Amen to that.
“Federal action on sports betting sounds more likely, though our contacts disagree on scope,” he warned, adding, “On integrity fees, we think the sports leagues’ efforts are only beginning – and they may concentrate on achieving federal oversight and outcomes in larger states like New York, Massachusetts and Illinois.” The Empire State is shaping up as a key battleground, as the Lege is expected to grapple with sports betting next year. “New York is a key catalyst and stocks could rally if sports betting is included in the early 2019 state budget … We think investors are more likely to seriously ascribe value for sports betting when it is legal in NY.”
cities, a category dominated by such activities as pathological gambling and smoking. Casino-enhanced cities dominated the list, with North Las Vegas logging in at #14, elbowing aside Phoenix (#15) but preceded by Detroit (#12), Philadelphia (#8), Miami (#7) and St. Louis (#5). Note to Georgia governor-elect Brian Kemp (R): If you get off your high horse about gambling, Atlanta (#6) has a serious shot at the top of the list. Metrics of sinfulness were, shall we say, unusual and not exactly quantifiable.
mind either), never mind develop on its own. To our mind, the question is where Skye Canyon falls in Station’s long queue of delayed or deferred projects, led by Durango Station. The company still hasn’t found a buyer, according to the story, for its Texas Lane property near South Point, site of an abandoned project. No word on the Castaways site or the similarly discarded Losee Road parcel. Whatever the case, Station’s land bank can keep the company in new development for at least a decade to come.
month and 15.5% lower at Foxwoods Resort Casino. The glass-half-full perspective is that in September MGM grossed on $18 million at slots compared to $38 million and $47 million at Foxwoods and Mohegan Sun respectively. So the tribal casinos still have some incentive to pursue that satellite casino in East Windsor. But, compared to MGM, their current business is gangbusters.
literally going to use its thoroughbreds as stalking horses to creep up upon casino-averse Music City. Wrote JP Morgan analyst Joseph Greff, “We expect construction will commence in the near future, as the license stipulates Standardbred racing dates will begin in October 2019,” helping drive a projected $40 million in cash flow. Greff assumes 1,500 ‘historical racing’ terminals, opining “We use Kentucky Downs’ ~$233/win/unit/day as a proxy (~60 miles from Oak Grove with, 750 machines), and estimate the gaming facility could generate $235 win/unit/day, which … could imply annual net gaming commissions of $~130m. We believe the hotel will provide a modest EBITDA contribution, as we expect most rooms will be targeted to gaming customers.” $235/win/day per device is above average in the slot world so the prospects for Oak Grove must look pretty green. Even if the sport of kings is on wobbly hooves, historical racing has made it a good investment again.
store basis (i.e., minus Hard Rock Atlantic City and Ocean Resort) while table game win was up 16% but down 10.5% same-store. Borgata ($51 million) fell 8% despite 12.5% higher table win on 11% lower wagering. The decline was driven by a 15.5% tailspin in slot win. The Caesars Entertainment portfolio tumbled 20%, with table win plummeting 30% on 18.5% less wagering — i.e., the house lost — while slot win toppled 15%. Nonetheless, Caesars gave the market a vote of confidence by announcing 
share the same ownership.) Rhode Island has legalized sports betting cautiously: no mobile wagers or prop bets, leaving a wide opening for the black market. However, with neighboring states lagging badly, Rhode Island has the ball and Twin River intends to run with it. Rhode Island may be the nation’s smallest state but it has the highest amount of gambling revenue per capita, and that’s about to get larger: “I see folks from Connecticut, from Massachusetts all coming. New Hampshire. Why not? We’re the only game in town,” said casino boss Mike Barlow, and who’s to argue with him? However, the state is a cinch to miss its $23.5 million tax projection, predicated on a badly blown Oct. 1 opening deadline. Whoops, there went the World Series, a big chunk of the NFL season, and early NBA and NHL games. Lawmakers might loosen up those restrictions on prop and mobile wagers as sports betting is legalized in nearby states, accelerating the race for dollars.-
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