{"id":18056,"date":"2016-04-07T12:01:59","date_gmt":"2016-04-07T20:01:59","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=18056"},"modified":"2016-04-07T12:01:59","modified_gmt":"2016-04-07T20:01:59","slug":"penn-trumps-caesars-in-ohio","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/penn-trumps-caesars-in-ohio\/","title":{"rendered":"Penn trumps Caesars in Ohio"},"content":{"rendered":"

Hard Rock Rocksino<\/strong> regained its top spot in Ohio<\/strong> last month, grossing just over $20 million (+9%). Just imagine what it could do if it had table games. The Caesars \"danielgilbert\"Entertainment<\/strong>\/Dan Gilbert<\/strong> trifecta continued to underperform, with a flat month in Cleveland<\/strong> ($20 million), a 3% decline in Cincinnati<\/strong> ($17 million) and a 5% dip at ThistleDown Racino<\/strong> ($9 million). Were the latter not located inland, it should inherit the “Mistake by the Lake” moniker. Pinnacle Entertainment<\/strong>‘s decision to compete with its Indiana<\/strong> casino by developing Belterra Park<\/strong> also continues to look like an uncharacteristic blunder but at least the racino is steadily improving: Up 45% to $7 million.<\/p>\n

Eldorado Resorts<\/strong>‘ Scioto Downs<\/strong> was up 3%, to $13.5 million, while it was good news across the board at the myriad Penn National Gaming<\/strong> properties. Hollywood Columbus<\/strong> rose 3.5% to $19 million and Hollywood Toledo<\/strong> ascended 5% to $18 million. Its racinos also continued to produce, with Hollywood Mahoning Valley<\/strong> raking in $9 million for an 11% gain and Hollywood Dayton<\/strong> up 2% to $8 million. Independent Miami Valley Gaming<\/strong> had a symmetrical month, turning a 12% gain to reach $12 million.<\/p>\n

* Through a kind of reverse loophole, Finger Lakes Gaming & Racetrack<\/strong> was left out \"Andrew_Cuomo\"of the tax reduction that Gov. Andrew Cuomo<\/strong> (D) signed into law as part of New York State<\/strong>‘s recent casino expansion. Because Finger Lakes falls into the Seneca Indian Nation<\/strong>‘s exclusivity zone, it has been paying a punitive 69% to the state, plus a subsidy for horseracing, leaving the racino’s owners 21% of their gambling revenue<\/a> to make ends meet upon. However, Cuomo and lawmakers have seen reason and will apply a more-clement (but still painful) 59% levy to the racino. Imminent rival-to-be, $425 million Lago Resort &\u00a0Casino<\/strong> will pay only 37% tax on slots and 10% from table games.<\/p>\n

Moody’s Investment Services<\/strong> said Lago spells bad news<\/a> for Finger Lakes and Batavia Downs<\/strong>.\u00a0“Lago’s location and product offerings uniquely position it to cannibalize gaming customers,” wrote Moody’s analyst Peter Trombetta<\/strong>. The best hope for those racinos is if the Oneida Nation<\/strong> persuades the courts to throw out<\/a> Lago’s casino concession. They’re all swimming upstream against the state’s Facility Location Board<\/strong> deemed when it wrote of of a competing casino bidder,\u00a0“We do not expect Tioga Downs<\/strong> to impact Lago as it is about two hours south and will be competing in different markets.”<\/p>\n","protected":false},"excerpt":{"rendered":"

Hard Rock Rocksino regained its top spot in Ohio last month, grossing just over $20 million (+9%). Just imagine what it could do if it had table games. The Caesars Entertainment\/Dan Gilbert trifecta continued to underperform, with a flat month … 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":[154,165,7,101,71,69,30,111,31,20,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/18056"}],"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=18056"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/18056\/revisions"}],"predecessor-version":[{"id":18057,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/18056\/revisions\/18057"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=18056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=18056"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=18056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}