{"id":19290,"date":"2017-01-20T10:09:21","date_gmt":"2017-01-20T18:09:21","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=19290"},"modified":"2017-11-16T09:37:01","modified_gmt":"2017-11-16T17:37:01","slug":"lukewarm-christmas-in-louisiana-new-casino-for-indiana","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/lukewarm-christmas-in-louisiana-new-casino-for-indiana\/","title":{"rendered":"Lukewarm Christmas in Louisiana; New casino for Indiana?"},"content":{"rendered":"

Despite an extra weekend in December, Louisiana<\/strong> gaming revenues were only modestly up, +4%, although gambling fever sure gripped Baton Rouge<\/strong>, where casinos won 14% more than last year. New Orleans<\/strong> has fallen to a distant third ($47 million) as a gaming \"\"market, but don’t blame the smoking ban: Three of four casinos in the area were revenue-positive, save for a 2% dip at Churchill Downs<\/strong>‘ Fair Grounds<\/strong> racino. Harrah’s New Orleans<\/strong>, once a prophet of gloom and doom was up 10% ($24 million). Boyd Gaming<\/strong> added $9 million to Treasure Chest<\/strong> (+3%), while Boomtown New Orleans<\/strong>‘ $10 million was good for a $2 million gain. Outlying Boyd properties didn’t always fare so well: Delta Downs<\/strong> ($15 million) was flat but Evangeline Downs<\/strong> ($7 million) was 4% off and Amelia Belle<\/strong> plummeted 20%, to $3 million.<\/p>\n

On Lake Charles<\/strong>, riverboat Isle Grand Palais<\/strong> was flat ($10 million), while L’Auberge du Lac<\/strong> nudged 3% upward, to $31 million. Rocket-propelled Golden Nugget<\/strong> ascended 18% to $25 million. Everyone prospered in Baton Rouge, led by L’Auberge Baton Rouge<\/strong>, grossing $16 million for a 14% lift. Tropicana Entertainmen<\/strong>t’s Belle of Baton Rouge<\/strong> was up 15.5%, to $5.5 million and Gaming & Leisure Properties<\/strong>‘ Hollywood Baton Rouge<\/strong> rose 11.5% to$6 million.<\/p>\n

The crowded Shreveport\/Bossier City<\/strong> market was the only one to post a decline, albeit modest. Caesars Entertainment<\/strong> properties had a bad month, with Horseshoe Bossier City<\/strong> down 9% to $16 million, while Louisiana Downs<\/strong> lived up to its name, falling 16% to $3 million. Newcomer Margaritaville<\/strong> continues to perform staunchly, up 9% to $13 million. Pinnacle Entertainment<\/strong>‘s Boomtown Bossier<\/strong> was up 15%, to $5 million, while Sam’s Town Shreveport<\/strong> had a relatively quiet month, off 2% for $6 million.<\/p>\n

* Florida<\/strong>\u00a0state Senate Majority Leader\u00a0Bill Galvano<\/strong>\u00a0(R) must like alligator wrestling because he’s introduced an omnibus gaming expansion bill that has so many moving \"\"parts one can hardly enumerate them all<\/a>. For instance, slots would be allowed at parimutuels in six counties that voted for them — but the state could buy back parimutuel licenses that aren’t being used for raciness. One is tempted to pronounce the bill dead on arrival because it provides “limited blackjack” (25 tables) to parimutuels in Miami-Dade County<\/strong> and Broward County<\/strong>, which would spell finis<\/i> to the state’s remunerative compact with the Seminoles<\/strong>. In addition to the loss of that money, parimutuels would see their taxes reduced to 25% from 35% of gross gaming revenue. There are also provisions for decoupling live racing with slot machines, and for permitting daily fantasy sports but the apparatus is so complicated — and so certain to sap the state budget — that you have to wonder what Galvano is thinking,<\/p>\n

* Execs at Penn National Gaming<\/strong> met with Deutsche Bank<\/strong> analyst Carlo Santarelli<\/strong> and got the message across that they “remain committed” to a capex infusion at the Tropicana Las Vegas<\/strong>, although they’re still being coy\u00a0with details, \"\"other than they think they can get 10X return on investment from the expansion (to be done “in a non-intrusive way,” much like Monte Carlo<\/strong>). In other good news, management said impact from MGM National Harbor<\/strong> on Penn’s Charles Town<\/strong> racino is “waning” and the competitive effect will be “better than feared.” Trying to put the best face on the botched launch of Hollywood Casino Jamul<\/strong>, Penn said it has been “more challenging than expected” (I’ll say!) but shifted blame to the competition and a tough “marketing environment.” Don’t you just hate it when that happens?<\/p>\n

* The new administration in Indiana<\/strong> is going to have to deal with growing pressure to expand the state’s casino industry. Not only is a new tribal casino on the boards, the Vigo County Commission<\/strong> has voted unanimously in favor of building a casino in Terre Haute<\/strong>. This is the latest metamorphosis of Full House Resorts<\/strong>‘ plan to downsize the gaming inventory at Rising Sun<\/strong> and erect a casino elsewhere. CEO Dan Lee<\/strong>‘s previous market of choice was Indianapolis but Terre Haute is proving more receptive. Legislative approval would be needed but, with Mike Pence<\/strong> no longer in the way, we like Lee’s chances a lot better this time.<\/p>\n","protected":false},"excerpt":{"rendered":"

Despite an extra weekend in December, Louisiana gaming revenues were only modestly up, +4%, although gambling fever sure gripped Baton Rouge, where casinos won 14% more than last year. New Orleans has fallen to a distant third ($47 million) as … 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":[60,34,176,145,36,198,190,7,68,85,84,72,11,69,30,111,200,31,9,129,20,21,38,139],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/19290"}],"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=19290"}],"version-history":[{"count":4,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/19290\/revisions"}],"predecessor-version":[{"id":20612,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/19290\/revisions\/20612"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=19290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=19290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=19290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}