{"id":16218,"date":"2015-06-17T10:25:09","date_gmt":"2015-06-17T18:25:09","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=16218"},"modified":"2015-06-18T10:18:20","modified_gmt":"2015-06-18T18:18:20","slug":"mixed-news-from-atlantic-city-more-silliness-from-trump","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/mixed-news-from-atlantic-city-more-silliness-from-trump\/","title":{"rendered":"Mixed news from Atlantic City; More silliness from Trump"},"content":{"rendered":"

Atlantic City<\/strong> continued its paradoxical ways last month. The market as a whole suffered another big decline, down 10%. However, for \"CaesarsBallysAC\"<\/a>individual operators, May was mostly good, with a same-store gain of 4%. (To see the blended impact of Internet<\/strong> and terrestrial gambling, look here<\/a>.) The casinos were unlucky at the slots, with 11% less revenue on 8% less coin-in. Table play was 14% smaller but revenue was down only (?) 8%. Borgata<\/strong>, which grossed $52 million, suffered a rare bad month, down 5%, despite a 10% gain in slot winnings.Table play was up but the casino was spectacularly unlucky, suffering a 40% decline in winnings.<\/p>\n

A new repositioning of Bally’s<\/strong> as a low-roller joint has yet to yield dividends. The casino grossed $18 million, a 12% drop from last year. Continuing to tumble was Trump Taj Mahal<\/strong>, falling 14.5% to $18.5 million. Lowest-grossing Resorts Atlantic City<\/strong> ($14 million) nevertheless gained 17%. The bulk of the Caesars Entertainment<\/strong> portfolio had a robust\u00a0month, with Caesars Atlantic City<\/strong> ($28 million) up an astounding 51% and Harrah’s Resort<\/strong> gaining 8% for a $33 million tally.<\/p>\n

Tropicana Atlantic City<\/strong> was dead even with last year, grossing $25 million, while Golden Nugget<\/strong> is catching up with the big boys, up 19% and grossing $19 million. Tilman Fertitta<\/strong> may have gotten off to a rough start in A.C. but he’s proving one of the canniest operators in the market.<\/p>\n

* Donald Trump<\/strong>‘s latest pathetic bid for attention<\/a> will, alas, not end the long national nightmare that is is his TV sitcom. Says an abusive-codependent NBC-TV<\/strong>, “we are committed to this franchise.” As for Trump’s publicity stunt, it was fittingly held<\/a> in defunct Trump Plaza<\/strong>.<\/p>\n

* Washington State<\/strong>‘s Colville Federated Tribes<\/strong> are trading up, closing Okanogan Casino<\/strong> in favor of new, $43 million 12 Tribes Resort & Casino<\/strong>. The new facility looks and sounds beautiful<\/a> but you have to cross the gaming floor to get to the amenities. Some casino-industry habits die hard.<\/p>\n

* Congratulations to\u00a0Scientific Games<\/strong> on winning a contract to provide chip-sorting machines to U.K. casino company Aspers Group<\/strong>, with SGMS’ Chip Star CSL<\/strong>. The company is particularly upbeat on the product’s prospects, due to its conformity with European Community<\/strong> standards. One British success may not be enough to counter a renewed “Sell” recommendation<\/a> from Deutsche Bank<\/strong>‘s Carlo Santarelli<\/strong>, who writes, “we simply believe there to be too much financial leverage in a business with; 1)<\/strong> challenged fundamentals across most business segments, 2)<\/strong> a legacy inability to generate meaningful discretionary cash flow, and 3)<\/strong> a stretched valuation relative to peers and sector historical multiples.” Ouch.<\/p>\n","protected":false},"excerpt":{"rendered":"

Atlantic City continued its paradoxical ways last month. The market as a whole suffered another big decline, down 10%. However, for individual operators, May was mostly good, with a same-store gain of 4%. (To see the blended impact of Internet … 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":[65,23,60,42,7,22,37,167,160,8,129,20,21,169,17,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/16218"}],"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=16218"}],"version-history":[{"count":5,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/16218\/revisions"}],"predecessor-version":[{"id":16247,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/16218\/revisions\/16247"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=16218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=16218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=16218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}