{"id":12019,"date":"2013-11-07T14:43:47","date_gmt":"2013-11-07T22:43:47","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=12019"},"modified":"2023-08-18T02:45:54","modified_gmt":"2023-08-18T10:45:54","slug":"penn-overboard-macaos-zenith","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/penn-overboard-macaos-zenith\/","title":{"rendered":"Penn overboard!; Macao’s zenith"},"content":{"rendered":"

\"cleveland-casino\"<\/a>First the good news about Ohio<\/strong>: Gambling revenue was up 47% last month. Now, the bad news. One a same-store basis it was down 2% year\/year. Who knew the Buckeye State would get saturated so quickly? The statewide gross was $94 million. Hollywood Columbus<\/strong>, problem child of the state, fell 3% and racked up a subpar $149\/slot\/day but still surpassed Deutsche Bank<\/strong> analyst Carlo Santarelli<\/strong>‘s expectations for the month. Hollywood Toledo<\/strong> only slipped one percentage point and posted a somewhat better $186\/slot. Horseshoe Cleveland<\/strong> was just a bit off the Mendoza Line ($194\/slot) but dropped 6%, undoubtedly losing business to Rock Gaming Caesars<\/strong>‘ own Thistledown Racetrack<\/strong>, which grossed $13 million.\u00a0(I thought two Caesars casinos in one market was a mistake and seem to have been right.) Horseshoe Cincinnati<\/strong> was the second-highest grossing casino in the state, behind its Cleveland sibling, but was also the outperformer, averaging $212\/slot. MTR Gaming<\/strong> took a hard spill at\u00a0Scioto Downs<\/strong>\u00a0— down 10%.<\/p>\n

The news from Illinois<\/strong> was mixed. Admissions were down 8% but patrons were spending 3.5%. They seem to have been doing it mainly at Rivers Casino<\/strong> (up 10%, to $36.5 million), not everywhere else (-9.5%). Penn National Gaming<\/strong> had a fairly bad month all around. Revenues were negligible aboard Alton Belle<\/em> (-16%), and fell aboard both Hollywood Aurora<\/em> (-14%) and Empress Joliet<\/em> (-6%). MGM Resort International<\/strong>‘s Grand Victoria<\/em> was down 8%, to $14 million, and Boyd Gaming<\/strong>‘s Par-A-Dice<\/em> missed estimates, dropping 5%. Harrah’s Joliet<\/em> was the #2 performer in the state, but down 7%. Harrah’s Metropolis<\/em> (-11%), Alton Belle<\/em> and East St. Louis<\/strong>‘ Casino Queen <\/em>continue to bleed business to Missouri<\/strong>.<\/p>\n

\"Venetian<\/a>No wonder<\/strong> that everybody wants to be in Macao<\/strong> — and that the Chinese enclave posted its best month ever: $4.56 billion. OK, so the Golden Week holiday helped but VIP play was up 28% and mass-market gambling win vaulted 46%. Sheldon Adelson<\/strong> normally becomes Mr. Grumpypants when Macanese market share is discussed but we think he’ll make an exception for this month, since he took a 5% chunk out of Stanley Ho<\/strong>‘s customer base. (“Impressive,” wrote Deutsche Bank<\/strong> analyst Joseph Greff<\/strong>.) Galaxy Entertainment<\/strong> led all gainers in market share, up 3%. Greff credited Sands’ gains with “being driven by stronger utilization of its ample hotel base, particularly” at Venetian Macao<\/strong> and Sands Cotai<\/strong>. He also lauded Melco Crown Entertainment<\/strong> for “good momentum,” presumably at City of Dreams<\/strong>, as holidays are described as favoring megaresorts.<\/p>\n

Nevada<\/strong> may have Internet<\/strong> poker, but that doesn’t mean punters are flocking to sites like UltimatePoker.com<\/strong> and WSOP.com<\/strong>. Quite the contrary. Also, Delaware<\/strong> appears ready to nip New Jersey<\/strong> at the starting gate and be the first state into online-casino play.<\/p>\n","protected":false},"excerpt":{"rendered":"

First the good news about Ohio: Gambling revenue was up 47% last month. Now, the bad news. One a same-store basis it was down 2% year\/year. Who knew the Buckeye State would get saturated so quickly? The statewide gross was … 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":[23,60,28,154,164,14,7,58,37,62,93,11,39,158,91,71,69,111,12,61,57,19,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/12019"}],"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=12019"}],"version-history":[{"count":2,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/12019\/revisions"}],"predecessor-version":[{"id":32860,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/12019\/revisions\/32860"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=12019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=12019"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=12019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}