{"id":14283,"date":"2014-08-11T11:08:21","date_gmt":"2014-08-11T19:08:21","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=14283"},"modified":"2014-08-11T11:08:21","modified_gmt":"2014-08-11T19:08:21","slug":"no-gold-rush-in-california","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/no-gold-rush-in-california\/","title":{"rendered":"No gold rush in California"},"content":{"rendered":"

\"Correa\"<\/a>In a huge setback for Internet<\/strong> gambling, California<\/strong>‘s legislature is calling it a day. State Sen. Lou Correa<\/strong> (D)\u00a0is not only withdrawing his i-gaming bill from consideration<\/a>, he’s being termed out at the end of the session, so the cause will have to find a new champion. Correa felt, no doubt rightly, that a month was insufficient time to get card rooms and fragmented Native American tribes to the bargaining time and hammer out a consensus.<\/p>\n

In the lower house, an i-poker bill by\u00a0Assemblyman Reginald Jones-Sawyer Sr.<\/strong> (D) is stuck in Committee Hell and unlikely to progress \"sheldonadelson\"<\/a>either.\u00a0\u201cThe politics of this aren\u2019t right for this to get rushed through by the end of this year,” gaming law guru I. Nelson Rose<\/strong> told the Los Angeles Times<\/em>. “The state is so large and there are so many tribes and they don\u2019t agree on anything.\u201d Other setbacks included outside interference by Sheldon Adelson<\/strong> and the conviction\u00a0of i-poker proponent Sen. Roderick Wright<\/strong> (D) on unrelated felonies.<\/span><\/p>\n

* Growing from six casinos and racinos to nine, Ohio<\/strong>‘s gaming revenue swelled\u00a028%. Same-store revenues fell 4%, as some cannibalization was felt. Slot revenue was up\u00a0microscopically\u00a0at Penn National Gaming<\/strong>‘s Hollywood Casino Columbus<\/strong>, on heavier play but\u00a0loose hold. Table play was way down, contributing to a flat month. Hollywood Casino Toledo<\/strong> grew 6%, with a strong win\/slot\/day of $212. Increases in slot hold and table revenue also helped.<\/p>\n

Both Caesars Entertainment<\/strong> properties took a dive, with Horseshoe Cleveland<\/strong> down 11% and Horseshoe Cincinnati<\/strong> off 15.5%. That is nothing compared to the feeble performance of Pinnacle Entertainment<\/strong>‘s\u00a0Belterra Park<\/strong>, averaging only $95\/slot\/day ($200\/day is the industry yardstick).<\/p>\n

* Missouri<\/strong> also treaded water, buoyed by a 5% increase in table game \"Ameristar<\/a>revenue. Penn’s Hollywood Casino St. Louis<\/strong> undershot some analyst expectations, posting an 8% decline. Lifted by the removal of Lumiere Place<\/strong>, the Pinnacle portfolio rose 7% on strong performances at Ameristar St. Charles<\/strong> and River City<\/strong>, exceeding estimates. The St. Louis<\/strong> market was up 2% overall. The Kansas City<\/strong> area did not fare so well. The only winner was Ameristar Kansas City<\/strong>, which came in flat. Penn’s Argosy Riverside<\/strong> was off 11%, Isle of Capri Kansas City<\/strong> slipped 3.5% and Harrah’s North Kansas City<\/strong> dropped 3%. Outstate, a couple of riverboats posted double-digit gains: St. Jo Frontier<\/strong> and Isle of Capri Cape Girardeau<\/strong>, both up 10%.<\/p>\n

* Melco Crown Entertainment<\/strong> has gotten itself into trouble in Taiwan<\/strong>. The Taipei District Prosecutors Office<\/strong> has indicted the company’s Taiwanese branch “for\u00a0alleged violations of certain local banking and foreign exchange legislation.” Coming just as James Packer<\/strong> is reentering the U.S. market, the timing is hardly propitious.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

In a huge setback for Internet gambling, California‘s legislature is calling it a day. State Sen. Lou Correa (D)\u00a0is not only withdrawing his i-gaming bill from consideration, he’s being termed out at the end of the session, so the cause … 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":[34,7,22,37,85,96,93,39,71,69,30,33,25,12,21],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/14283"}],"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=14283"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/14283\/revisions"}],"predecessor-version":[{"id":14285,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/14283\/revisions\/14285"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=14283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=14283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=14283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}