Here we go again. Illinois solons will once more take up the question of casino expansion in the Land of Lincoln. However, 
other and more pressing gambling concerns may take priority. In addition to Internet gambling there is the quick revenue fix that is sports betting. Also, legalization of daily fantasy sports is jostling for its place on the docket. That’s an ambitious slew of laws to push through the state capitol, even for indefatigable state Sen. Robert Rita (D) and state Rep. Lou Lang (D). The witness list for yesterday’s hearing was tilted against the existing casino industry, with only Casino Queen execs being called to testify.
If Rita’s SB7 comes up to a vote, it should be coupled with Amendment 3, which would ease the usurious tax rates Illinois casinos are required to pay. (It would also authorize three racinos but maybe that’s Continue reading
as some one who entered the industry as a novice and immediately began to strike gold. More recently, he’s been beating the pants off the competition in New Jersey for Internet gambling. (He was the first to have live, online dealers, an experiment that paid off big time.) We’ve butted heads with Tilman a few times in the distant past but have the highest respect for him and his track record.
Adelson can afford to buy a Congress but not a convincing toupee. The pro quo to Adelson’s quid was provided by a certain “short-fingered vulgarian” (™ Graydon Carter) who 
surpassed MGM’s expectations, gambling revenues were a different story. MGM’s target for Year One is $418 million. During its first full month of operation it grossed just a hair under $27 million, 
Court has slam-dunked two challenges to the referendum. Religious group Ensuring Arkansas Future claimed that the ballot language was too ambiguous and citizens wouldn’t know what a ‘yes’ vote entailed. Citizens for Local Choice complained that the wording was too vague. The high court wasn’t buying any of it, however. It said a ballot title “does not need to include every possible consequence or impact of a proposed measure … [it] sufficiently informs the public of the amendment’s purpose and scope and its consequences.”
prediction that two casinos will close this year but this gives him grist for his mill. Still, slots were up 8.5% and table games 5.5%. (Poker took a beating, down 15.5%.) Borgata ($60.5 million) was hammered, with table win plunging 25.5%, That dragged the casino’s performance down 13.5%, as slot win fell 8% too. The Caesars Entertainment portfolio tumbled 13.5%. Broken out by property, it was $23 million (a 23% dive) at Caesars Atlantic City, $27 million (a 14% declivity) at Harrah’s Resort and $17 million (down 6.5%) at Bally’s. Interesting that the grind joint (Bally’s) suffered least against the new competition.
amendment, which would make gaming expansion subject to direct popular vote, has 54% support at the moment. Trouble is, 
grossing $13 million. Caesars Entertainment‘s two new racinos didn’t impress, with Hoosier Park up 1.5% ($16 million), while Indiana Downs was flat at $20.5 million. Horseshoe Southern Indiana grossed $19.5 million, a 10% stumble. Horseshoe Hammond took in $32 million (glass half-full) but slipped 7% (glass half-empty). Ameristar East Chicago, however, was up 4% to $18 million.
regional casino properties or among its customer base. Management is upbeat on the company’s growth trajectory and is confident it can continue running its casinos at an efficient pace; it views its casino portfolio as underappreciated given the pace of both revenue growth … and EBITDA growth.” Management was skeptical of the trend to split companies into REITs and operating companies. Churchill Downs likes owning its real estate.
will invest $100 million in a property makeover, starting with those oh-so-excessively-trendy hotel rooms. Next week Meruelo will get around to the much-criticized casino floor and to Nazarian’s pride and joy, the pool complex. Speaking of purgations, the Las Vegas Review-Journal has finally gotten around to dropping the de riguer practice of referring to the myopic Nazarian as a “visionary” every time his name was mentioned. Thank you. Now could we please put the “Sahara” name back on the casino, Mr. Meruelo?
CEO Mark Frissora would want to get back in. Last month, gross gaming revenues were $152 million, a 4% increase, powered by an 8% improvement at the racinos. (Casino business was static.) Penn National Gaming‘s Hollywood Toledo was flat at $16 million, while Hollywood Columbus slid 5% to $17.5 million. But Hollywood Dayton was up 2.5% to $8.5 million and Hollywood Mahoning Valley jumped 5.5% to $10 million.
weakness was “a blip … driven by a ‘perfect storm’ of: (1) Very tough comps from two ‘supercharged’ Summers in 2016 and 17, (2) Much higher mix of Leisure and price sensitive [online travel agency] customers, (3) Mid-week July 4 holiday, and (4) Continued impact of October 1.” He also notes “continued rate pressure at the lower end of the market, especially from lower rates at Park MGM and continued weakness in the vicinity of Mandalay Bay.”
Congress. “You’re saying only Indians can have the reservations, only Indians can have the gaming, so why don’t you approve it for everybody?”, Trump asked. Now he is in the White House, his Secretary of the Interior has taken land out of trust for the first time since the Termination Era (1946-1975) and the Mashpee Wampanoag find themselves outside looking in. The Termination Act was a bit of Harry Truman administration policy to try and force Native Americans to assimilate by dissolving their reservations. As erstwhile Sen. Ben Nighthorse Campbell (R) put it, “If you can’t change them, absorb them until they simply 
number of tourists and tour buses that pass through. We have current customers and employees of Silverton that live in Pahrump, so we thought it would be fun to build an extension of the Silverton brand there” Silverton President Craig Cavileer told the Pahrump Planning Commission. We don’t think casinos