“Finally, on this date in 1953, in the middle of the Red Scare in the US, a woman on the Indiana Textbook Commission called for removing all references to Robin Hood from textbooks because he advocated robbing the rich to give to the poor, clearly making him a Commie.” — Boston Globe columnist Teresa Hanafin, with a bit of historical trivia.
The latest malfeasances are — according to reporter Richard Velotta — “taking wagers from outside the state, taking bets after events had concluded, made incorrect payouts to 1,483 bettors and misconfigured a satellite sportsbook betting station for the 2018 Super Bowl.” CG has pled out on all counts. In addition to the $1.75 million, CG is offering to pony up a $250,000 donation to the Nevada Council on Problem Gambling, an offer we can all support.
share (paid for by Penn) and $700 million for the real estate (Vici’s contribution). Greektown has historically underperformed, so we like its chances with Penn’s leadership and data base in command. Penn will be paying $55.5 million a year to rent the hotel-casino from Vici, which shouldn’t be difficult to cover. JP Morgan analyst Joseph Greff gives the transaction a rave review: “We view Greektown as a strategic acquisition for PENN, providing exposure to a market it is not in right now (Detroit) with relatively stable operating fundamentals and no supply growth risks. The property should benefit from PENN’s scale, which is now 40+ properties post its acquisition of Pinnacle Entertainment.” Penn gains 2,700 slots and 60 table games, in a transaction that Greff expects will throw off $23.5 million in free cash flow per year.
Isle of Capri Kansas City ($5 million). Boyd Gaming had an inauspicious start to its return to the Show-Me State, down 1% at both Ameristar Kansas City ($15 million) and Ameristar St. Charles ($21 million). Eldorado’s outstate properties delivered a very mixed performance with Lady Luck Caruthersville 1.5% down ($3 million), Isle of Capri Boonsville up 1.5% ($6 million) and Isle of Capri Cape Girardeau down 4.5% ($5 million). Penn National Gaming was absolutely flat — $18 million — at Hollywood Casino St. Louis but up 5% in Kansas City, where it grossed $14 million. Harrah’s North Kansas City did almost $15 million in business, a 2% gain. One of Penn’s new trophies, River City, dove 6%, to $17 million, while Affinity Gaming‘s Mark Twain Casino was down 1% to $2.5 million.
and Jefferson County. The Downstream Development Authority of the Quapaw Tribe and Cherokee Nation Businesses both gave heavily to the election drive, and we can expect them to be at the front of the queue when casino bids are taken. Likely to be Out is Caesars Entertainment, which intervened against Arkansas casinos at the last minute and will have to twist itself into a rhetorical pretzel to justify extending the Roman Empire into one more state. In the meantime it looks like the Quapaw will apply in Jefferson County while the Cherokee go for Pope. Meanwhile, the Quapaw 
revenue. However, Driving Arkansas Forward counsel Alex Gray counters that the increased revenue realized from the additions of table games at racetracks — one of which will eliminate dog racing — will more than offset the tax reduction. There’s also some haggling over whether it will take one or two years for the Pope and Jefferson casinos to become active, and start contributing to the state. (I’ll be conservative and take the over.)
around at Grand Victoria, which was up 2% ($13 million). Rivers Casino, coveted by Churchill Downs, also had a strong month, grossing almost $38 million for a 4% gain. Penn National Gaming lost ground both at Empress Joliet ($9 million, -3.5%) and Hollywood Aurora fell 9% to $9 million. Harrah’s Joliet slipped 6% but still grossed $14 million, second-best in the state. Further south, Par-A-Dice dipped 4% to $6 million, Harrah’s Metropolis was down 2.5% to $6 million and Casino Rock Island was 5% off its feed to $5 million. In the St. Louis area, Argosy Belle tumbled 10% to $3.5 million and Casino Queen slipped 4% to $7.5 million.
highly astute. Since El Steve’s big sale WYNN has fallen 40% 
former company. Having torn up its golf course, Wynncore is bringing Fazio aboard to restore Wynn Golf Club to its former, 18-hole glory. CEO Matt Maddox wanted something on the backside of Wynncore that conveyed “luxury” and what better way to do that than a golf course that costs you $500 a round to play. Had Steve Wynn’s theme-park concept survived him, we could have been looking at a tacky agglomeration that Scott Roeben catalogues as follows: “(water skiing, paddle boarding and parasailing), but also bumper cars, a boardwalk, carousel, ziplines, a nightly Carnivale parade (with a dozen 30-foot floats) with fireworks and even an eight-foot [sic] King Kong.” Not to mention 
musical chairs is completed by elevating tribal member Edward Aguilar to general manager. The latter’s held numerous positions within Seminole Gaming, including regulatory experience, and must find his new duties a long way from his undergraduate degree (culinary arts). But the coup of coups was wooing David Hoenemeyer away from Caesars Entertainment and installing him as corporate COO. Hoenemeyer’s experience includes multiple Atlantic City postings, so he should bring helpful insight on that market, where Hard Rock Atlantic City isn’t doing quite as well as expected, hence the Lupo promotion.
Chiefs blew out the lowly Browns by twice that number. “We were pretty much done at that point. Disaster,” MGM Resorts International sports book boss Jay Rood told ESPN. “Bad. Really bad. We won one key decision today,” added Caesars Entertainment‘s chief of risk operations, Jeff Davis. Looking for a bright spot, Station Casinos‘ Jason McCormick reached for the Miami Dolphins‘ win, since it had the least amount of handle riding on the outcome.
holding our representatives accountable and — especially in the case of constitutional amendments — bringing about change. The people in far too many countries around the world don’t have this right — but we do and we have an obligation to our descendants to employ it. So whether you’ve agreed with S&G‘s paltry election endorsements or not, and whatever your political stripe, get out there and vote. Regardless of the outcome it will make you feel far better on Wednesday than if you sat on the sidelines and had nothing to show for it but regret. So pull that lever, stat! (And if anybody gives you the business, call 1-866-OUR-VOTE. That’s 1-866-687-8683.)
a pretty penny: 11.25X cash flow (the industry average is 7-8X), which implies an impressive $129 annual cash flow for the casino, Illinois’ most successful. Closer to home, Churchill Downs has the option of adding 1,100 historical-racing machines, in addition to the 900 it has at Derby City. Customers aren’t entirely sold on HRMs as an alternative to slot machines. Derby City does $138/win/VLT/day compared to a gangbusters $328/win/slot/day at Horseshoe Southern Indiana. Wrote Politzer, “We believe aggressively the property is being marketed fairly aggressively though is seeing incremental traffic from its ‘You Play, We Pay’ promotion (it was quite busy when we were there). Management noted it has been a challenge to -
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