![\"\"](\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2013\/09\/Isle-Nemacolin.jpg\" "\\"Isle")
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Isle of Capri Casinos<\/strong> appears to have laid an egg with Lady Luck Casino<\/strong> at Nemacolin Woodlands Resort<\/strong> and is now having to lay off 15% of the workforce<\/a>. Much of the blame properly goes with the State of Pennsylvania<\/strong>‘s flawed business model for resort casinos, which restricts to play to hotel guests or those willing to pay a $10 fee to play. Valley Forge Casino Resort<\/strong>, however, has not been hurt by these rules, so Isle must take some of the blame … as should Nemacolin’s location: an hour’s drive outside Pittsburgh<\/strong>. Between the dismal prospects of the Steelers<\/strong> and now this, it’s not been a good weekend for Pittsburgh.<\/p>\n Over in Ohio<\/strong>, the novelty factor of casinos has swiftly worn off<\/a>. Horseshoe Cleveland Penn National Gaming<\/strong>‘s Hollywood Toledo<\/strong> was off 9% from last year. MTR Gaming<\/strong>‘s Scioto Downs<\/strong> had a rough month, too, down 15%. \u00a0Hollywood Columbus<\/strong> continues to post well-below-average numbers per slot, while Horseshoe Cincinnati<\/strong> is healthily above average. (Both Hollywood Toledo and Hollywood Cleveland are a bit above the $200\/slot\/day industry mark of health.)<\/p>\n Scioto Downs is still attractive enough<\/strong> to help motivate Eldorado Resorts<\/strong> to buy out MTR at a huge premium — 44%<\/a>. The end result of the all-stock deal will be to put Eldorado (with 55% of the overall shares) in the driver’s seat. Eldorado’s Gary Carano<\/strong> will be CEO and MTR’s John Billhimer<\/strong> will hold the presidency. Look for an IPO after the transaction closes next year.<\/p>\n","protected":false},"excerpt":{"rendered":" Isle of Capri Casinos appears to have laid an egg with Lady Luck Casino at Nemacolin Woodlands Resort and is now having to lay off 15% of the workforce. Much of the blame properly goes with the State of Pennsylvania‘s … Continue reading ![\"\"](\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2012\/10\/Horseshoe-Cleveland-large-300x168.jpg\" "\\"Horseshoe")
<\/strong>was down 17% year\/year in August. Caesars Entertainment<\/strong> collected a meager $3.8 million (plus management fees) in this worst-ever month. Even a “george” $6 million in free play didn’t goose action at the slots<\/a>. ThistleDown Racetrack<\/strong> (up 3.5% from July) continues to eat into Horseshoe’s business, making it a metaphysical certainty that Rock Gaming Caesars<\/strong> will pull the string on a provision that lets them move the track to the Akron<\/strong> market.<\/p>\n