{"id":19456,"date":"2017-03-08T13:03:13","date_gmt":"2017-03-08T21:03:13","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=19456"},"modified":"2017-03-08T13:03:13","modified_gmt":"2017-03-08T21:03:13","slug":"mgm-national-harbor-maryland-live-duke-it-out","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/mgm-national-harbor-maryland-live-duke-it-out\/","title":{"rendered":"MGM National Harbor, Maryland Live duke it out"},"content":{"rendered":"

MGM National Harbor<\/strong> strapped a jet pack on Maryland<\/strong> gaming revenue, up an eye-popping 38% last month. The bad news for other operators is that, once you subtract MGM, gaming revenues are \"\"down 11%. However, the fact that the declivity isn’t worse shows that MGM is growing the market, as it was intended to do. Despite generating almost $46 million in revenue, National Harbor was still a few decimal points behind Maryland Live<\/strong>. In terms of slot win per day, the two properties are running neck and neck, but when it comes to table win, MGM has a huge edge, with a probable $4,782\/table\/day against Live’s $2,921. The latter was 14% down from February 2016, while Horseshoe Baltimore<\/strong> ($22 million) ceded 12%.<\/p>\n

GLPI<\/strong> made 5% less at Hollywood Perryville<\/strong>, grossing $6 million. The outlying casinos were immune from cannibalization, with Ocean Downs<\/strong> up 3.5% ($4 million) and Golden Entertainment<\/strong> enjoying 14% growth, to over $4 million. Across the border, at Hollywood Casino at Charles Town Races<\/strong>, slot play was minimally affected, down 5%, but table revenues were hit hard, -22%. This is more or less the scenario many feared for the Penn National Gaming<\/strong>\/GLPI property and it seems to be playing out to form.<\/p>\n

* Thanks no doubt to slot routes, foot traffic at Illinois<\/strong> casinos was down 7% last month, although players spent 5% more, handing the \"\"Land of Lincoln a 2.5% revenue decrease. Expectations for Boyd Gaming<\/strong>‘s Par-A-Dice<\/strong> were so low that a 8% decline, to $7 million, exceeded<\/em> Wall Street<\/strong> projections. Rivers Casino<\/strong> led the state, with $33 million, a 1% dip, but it was revenue-negative month for all the Penn\/GLPI properties. Argosy Belle<\/strong> was down 3% ($4 million), Empress Joliet<\/strong> ceded 2% ($10 million) and Hollywood Aurora<\/strong> had the worst of it, down 7% to $9 million. Against this backdrop, MGM Resorts International<\/strong> had a good month at Grand Victoria<\/strong> in Elgin<\/strong>, up 1% to $14 million.<\/p>\n

Jumer’s Casino Rock Island<\/strong> took a thwack, down 7% to $6 million, while GLPI’s Casino Queen<\/strong> was off 5%, to $9 million. Harrah’s Joliet<\/strong> was flat, with a second-place $14.5 million, while Harrah’s Metropolis<\/strong> was down 4.5% to $6 million. This doesn’t look like the economic backdrop against which to add four racinos and six casinos, does it?<\/p>\n

* Jackie Robinson<\/strong>‘s All-Debt, er, All-Net Arena<\/strong> is showing faint signs of life after a protracted coma. Robinson claims he can make the numbers pencil out even with no sports team in residence<\/a> but if his future partners are as dodgy as extinct SL Hare<\/strong>, keep this one classified under “vaporware.”<\/p>\n

* There have been no new developments in the Sands Bethlehem<\/b> sale, enabling the Las Vegas Review-Journal<\/i> to continue pretending that it’s all quiet on the eastern front.<\/p>\n","protected":false},"excerpt":{"rendered":"

MGM National Harbor strapped a jet pack on Maryland gaming revenue, up an eye-popping 38% last month. The bad news for other operators is that, once you subtract MGM, gaming revenues are down 11%. However, the fact that the declivity … 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":[60,70,190,7,58,72,11,91,69,95,12,74,9,38,139],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/19456"}],"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=19456"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/19456\/revisions"}],"predecessor-version":[{"id":19457,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/19456\/revisions\/19457"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=19456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=19456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=19456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}