{"id":17518,"date":"2016-01-07T13:23:51","date_gmt":"2016-01-07T21:23:51","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=17518"},"modified":"2016-01-07T13:23:51","modified_gmt":"2016-01-07T21:23:51","slug":"penn-owns-ohio-adelson-expands-r-j","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/penn-owns-ohio-adelson-expands-r-j\/","title":{"rendered":"Penn owns Ohio; Adelson expands R-J"},"content":{"rendered":"

Gaining 19% last month, Hard Rock Rocksino<\/strong> reclaimed its top spot in Ohio<\/strong>, grossing almost $19 million and edging aside\u00a0Horseshoe Casino Cleveland<\/strong> by one decimal point. The latter saw an 11% slippage revenues, \"Hollywood<\/a>while ThistleDown Racino<\/strong> continues to look like a mistake, down 7% on an $8.5 million gross. Rock Gaming Caesars<\/strong> managed to save some face in the Queen City, where Horseshoe Casino Cincinnati<\/strong> rose 4% on an $18 million gross.<\/p>\n

But the big story was Penn National Gaming<\/strong>, displaying success across the board. Hollywood Columbus<\/strong>, in its most competitive market, grossed 18% and was up 6%, despite slot revenues that were only average. It still managed to outperform analyst expectations, as did Hollywood Casino Toledo<\/strong>, where coin-in was up 10% and revenues rose 11% along with it ($214 win\/slot\/day). Table game revenue shot up an astonishing 21.5%, in what was a very lucky month for the house.<\/p>\n

Penn’s two racinos still continue to generate win\/slot\/day that is far above average even through the grosses — $7.5 million at Hollywood Dayton<\/strong>, up \"Belterra<\/a>11%, and $8 million at Hollywood Austintown<\/strong>, up 9% — are comparatively modest. Penn’s main competitor, Eldorado Resorts<\/strong>‘ Scioto Downs<\/strong>, was up 15% on a $13 million gross. Pinnacle Entertainment<\/strong>‘s Belterra Park<\/strong>, despite sub-average slot win, clawed back a 20% gain, perhaps at the expense of Pinnacle’s Indiana<\/strong>-based Belterra<\/strong>, for a $6 million gross. Privately held Miami Valley Gaming<\/strong> grossed $11 million, up 16%. Except for the underperformance of the Caesars Entertainment<\/strong>-managed properties, there was no bad news to be had.<\/p>\n

* Sheldon Adelson<\/strong> promised “positive changes” to the Las Vegas Review-Journal<\/em> and he made one yesterday, as it was announced that 30 vacant or newly created positions in the newsroom would be filled. Among the restorations, the copy-editing desk, whose elimination was a major blot on Stephens Media<\/strong>‘s former stewardship of the paper. Incidentally, as the R-J<\/em> reported on Bill McBeath<\/strong>‘s recommendation for a gaming license, the headline writer couldn’t resist twigging<\/a> the Nevada Gaming Control Board<\/strong> for taking so long to get around to it.<\/p>\n

* Steve Wynn<\/strong> once proclaimed himself “the most powerful man in Nevada<\/strong>.” Steve, meet Paul Caudill<\/strong>, CEO of Nevada Power<\/strong>. It was Nevada Power’s enormous (the word seems inadequate to the sums involved) exit fees that sent Wynn Resorts<\/strong>, MGM Resorts International<\/strong> and Las Vegas Sands<\/strong> scurrying back under Nevada Power’s umbrella after an attempted jailbreak. Sands protested the fees to the Public Utilities Commission<\/strong> but was told they were necessary to “protect remaining captive ratepayers from harm caused by a large customer’s exercising its choice to exit bundled retail service.” That’s Caudill 1, Wynn 0 if you’re keep score at home.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gaining 19% last month, Hard Rock Rocksino reclaimed its top spot in Ohio, grossing almost $19 million and edging aside\u00a0Horseshoe Casino Cleveland by one decimal point. The latter saw an 11% slippage revenues, while ThistleDown Racino continues to look like … 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":[66,154,199,165,7,11,71,69,30,111,25,12,32],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/17518"}],"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=17518"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/17518\/revisions"}],"predecessor-version":[{"id":17519,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/17518\/revisions\/17519"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=17518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=17518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=17518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}