{"id":10609,"date":"2013-04-08T12:43:30","date_gmt":"2013-04-08T20:43:30","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=10609"},"modified":"2013-04-08T12:43:30","modified_gmt":"2013-04-08T20:43:30","slug":"ohio-penn-recovers","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/ohio-penn-recovers\/","title":{"rendered":"Ohio: Penn recovers"},"content":{"rendered":"

\"\"Decimation of the slot floor at Hollywood Columbus<\/strong> proved to be just what the doctor ordered, “given the initial lackluster start and relatively low investor expectations,” as J.P. Morgan<\/strong> analyst Joseph Greff writes. Minus 515 machines<\/a>, revenues at H’wood Columbus last month<\/a> were now $21 million, including $173\/day\/slot — not ideal but getting there and a huge improvement on where they were. Since revenue comparisons are still sequential at this point, not year\/year, I won’t read much into them. The market, however, continued to trend upward throughout the first quarter, growing by nearly half last month … from $66.5 million to $96.9 million. H’wood Columbus is, however, still being outperformed by the VLTs<\/a> at MTR Gaming<\/strong>‘s Scioto Downs<\/strong> racino, which were averaging $193 per day.<\/p>\n

Penn National Gaming<\/strong> had a bonny month<\/a> at Hollywood Toledo<\/strong> ($18 million), averaging $227\/day at the slots. Holy Toledo<\/strong>, I think we’ve found an under-served market! Of course, Horseshoe Cleveland<\/strong> continues to do well ($24.5 million and $280\/slot) but even with a slightly truncated opening month, Horseshoe Cincinnati<\/strong> was, like, hot damn<\/em>, baby! Despite only operating 27 days instead of the full 31, Rock Gaming Caesars<\/strong> raked in $21 million, including a daily per-slot average of $293. Wowzer!. Give credit where it is due, to Gary Loveman<\/strong> and (mainly) Dan Gilbert<\/strong>, who grabbed the two biggest Buckeye State markets and hit paydirt in both of them.<\/p>\n","protected":false},"excerpt":{"rendered":"

Decimation of the slot floor at Hollywood Columbus proved to be just what the doctor ordered, “given the initial lackluster start and relatively low investor expectations,” as J.P. Morgan analyst Joseph Greff writes. Minus 515 machines, revenues at H’wood Columbus … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[28,154,7,158,71,95,111,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/10609"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=10609"}],"version-history":[{"count":2,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/10609\/revisions"}],"predecessor-version":[{"id":10612,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/10609\/revisions\/10612"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=10609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=10609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=10609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}