{"id":15457,"date":"2015-02-10T15:03:26","date_gmt":"2015-02-10T23:03:26","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=15457"},"modified":"2015-02-10T15:03:26","modified_gmt":"2015-02-10T23:03:26","slug":"could-saturation-have-peaked","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/could-saturation-have-peaked\/","title":{"rendered":"Could saturation have peaked?"},"content":{"rendered":"

It’s a banner day when casino revenues in Illinois<\/strong> grow 8.5%. It’s no illusion: In context, $115.5 million is a pretty good haul. A downward spiral in gas prices<\/a> may already be showing \"Illinois\"<\/a>up in slot hoppers and drop boxes. According to Deutsche Bank<\/strong> analyst Carlo Santarelli<\/strong>, players are still spending 2% less but there were 10% more of them. As Penn National Gaming<\/strong> went, so did the market, with Penn up 11% last month. Hollywood Aurora<\/strong> (+14%) and Empress Joliet<\/strong> (+11%) were held back somewhat by Argosy Alton<\/strong>, up ‘only’ 5%.<\/p>\n

MGM Resorts International<\/strong> experienced a modest improvement aboard Grand Victoria<\/strong>, up 3%. Caesars Entertainment<\/strong> saw dramatic improvements at Harrah’s Joliet<\/strong> (+14%) and aboard new Harrah’s Metropolis<\/strong> (+28%). Boyd Gaming<\/strong>‘s Par-A-Dice<\/strong> (+3%) improved more modestly. The one anomaly\u00a0was GLPI<\/strong>‘s Casino Queen<\/strong>, which took a 6.5% dive. Neil Bluhm<\/strong>‘s Rivers Casino<\/strong> in Des Plaines<\/strong> didn’t just record a double-digit (11%) improvement, it crushed the competition, grossing more than double than even what Harrah’s Joliet brought home.<\/p>\n

* Across the river, in Missouri<\/strong>, casino revenue escalated 10%. Foot traffic was not only up 6.5% but players loosened their purse strings, gambling 3% more. Even long-suffering Lumiere Place<\/strong> was up 2%. Pinnacle Entertainment<\/strong>‘s casino flotilla, led by Ameristar St. Charles<\/strong> ($22 million, up 15%), generally topped the state. The Mark Twain<\/strong> riverboat was flat but nobody was in negative-comparison territory. Pinnacle’s River City<\/strong> gained 14%, although it was barely outgrossed by Hollywood St. Louis<\/strong> (+4%) and its Ameristar Kansas City<\/strong> led that market, up 8%.<\/p>\n

Caesars had a good month at Harrah’s North Kansas City<\/strong>, while the various Isle of Capri Casinos<\/strong> combined for a 15% upsurge.<\/p>\n

* Isle also had a strong\u00a0month in Iowa<\/strong>, growing revenues 16%. Caesars’ Horseshoe Casino & Bluffs Run Park<\/strong> led the state with $15.5 million (up 3%), which made up for a flat performance at Horseshoe Council Bluffs<\/strong>. Pinnacle was 10% up Ameristar Council Bluffs<\/strong> and, in the Sioux City<\/strong> market, Hard Rock<\/strong> considerably outperformed its predecessor (a Penn National property, no longer in business), $6 million to $4 million. Boyd’s two casinos grossed $11.5 million, good for a 12%. Obviously, it remains to be seen if numbers like these can be sustained, but players are clearly warming to the industry at the moment.<\/p>\n

* “In Massachusetts<\/strong>, they want to clean our clock.” So protests Connecticut<\/strong> state Rep. Jim Amann<\/strong>, who’s pushing for three OTBs with slot machines to reverse the erosion of state gambling revenues. His sense of urgency is not shared by state Senate Majority Leader Bob Duff<\/strong>, who points to positive indicators in other sectors of the Connecticut economy. The disagreement opens an existential debate on whether or not Connecticut’s best casino days are behind it. Regardless, both Foxwoods Resorts Casino<\/strong> and Mohegan Sun<\/strong> oppose the OTBs<\/a>, so Duff is likely to prevail.<\/p>\n

* Could a Broadway<\/strong> musical about the pornography industry cut it as a Las Vegas Strip<\/strong> residency show? Probably, but Pretty Filthy<\/em> may be too downbeat<\/a> to turn the trick.<\/p>\n","protected":false},"excerpt":{"rendered":"

It’s a banner day when casino revenues in Illinois grow 8.5%. It’s no illusion: In context, $115.5 million is a pretty good haul. A downward spiral in gas prices may already be showing up in slot hoppers and drop boxes. … 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":[40,60,14,4,166,190,7,58,85,11,167,91,69,30,9,21,38,146],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/15457"}],"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=15457"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/15457\/revisions"}],"predecessor-version":[{"id":15458,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/15457\/revisions\/15458"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=15457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=15457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=15457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}