{"id":20536,"date":"2017-11-08T08:24:19","date_gmt":"2017-11-08T16:24:19","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=20536"},"modified":"2017-11-09T06:00:34","modified_gmt":"2017-11-09T14:00:34","slug":"ohio-defies-the-calendar-pennsylvania-vote-pricks-adelsons-balloon","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/ohio-defies-the-calendar-pennsylvania-vote-pricks-adelsons-balloon\/","title":{"rendered":"Ohio defies the calendar; Pennsylvania vote pricks Adelson’s balloon"},"content":{"rendered":"

Ohio<\/strong> gaming revenues powered up 5.5% last month despite a supposedly “unfavorable” calendar (one less weekend day). \u00a0Except for a flat outcome at Thistledown Racino<\/strong> ($9.5 million), \"\"everyone was revenue positive for the month. Even Jack Cleveland<\/strong> snapped out of its funk to deliver a 10% improvement, to $17 million. Jack Cincinnati<\/strong> was up 9.5% for a $16 million outcome. Eldorado Resorts<\/strong>‘ Scioto Downs<\/strong> was up 7% to $13 million while struggling Belterra Park<\/strong> rose 6% to $7 million. Independent Miami Valley Gaming<\/strong> was up 2% to $12 million and slots-only Hard Rock Rocksino<\/strong> remained the dominant property in the Buckeye State, ascending 5% to $19.5 million.<\/p>\n

The Penn National Gaming<\/strong> portfolio performed well, to varying degrees. Hollywood Austintown<\/strong> continues to be a powerhouse, up 10% to $9.5 million and averaging $293\/slot\/day in win. Hollywood Dayton<\/strong> didn’t average so badly either: $259\/win\/slot\/day, growing revenue 5% to $8 million. Hollywood Toledo<\/strong> rose 5% to $16 million and Hollywood Columbus<\/strong> eked out a 1% increase, for $18 million. Here’s a how-not-to model<\/a> for reporting casino earnings. The use of sequential comparisons is not only meaningless, it suggests an anti-gambling stance.<\/p>\n

* Pennsylvania<\/strong> may have stuck a fork in Sheldon Adelson<\/strong>‘s crusade to ban Internet<\/strong> gambling. Key Adelson ally and Keystone State congressman Charlie Dent<\/strong> (R, below<\/em>) suddenly finds himself high and dry<\/a>, the state Lege having shot the anti-Internet horse out \"\"from under him. Said Poker Players Alliance<\/strong> Executive Director John Pappas<\/strong>,\u00a0\u201cGoing into this week, anti-iGaming forces were already crippled; no federal bills to speak of, fewer Congressional champions and a [Department of Justice<\/strong>]\u00a0with more important things to do than trample states\u2019 rights. Now, I would have to think the \u2018RAWA<\/span>\u2019 effort is mortally wounded.\u201d We hope long life for the 84-year-old Adelson, the better\u00a0that he can see the United States<\/strong> march into the Internet gaming sphere and take its place there with other great nations. Some wonder if, in a fit of pique, Adelson may retaliate by selling<\/a> Sands Bethlehem<\/strong>, a casino with which he has a complicated relationship. It’s never lacked for interested buyers.<\/p>\n

* Resorts World Sentosa<\/strong> saw an 11% increase in gambling revenue in 3Q17 — but a 35% growth in profit<\/a>. Genting Group explained [sic] the improved result with a jumble of unhelpful \"\"verbiage, baffling to the layman. Genting reported $977 million in play\u00a0and VIP win gave an assist<\/a>, as rolling-chip volume (i.e., credit) surged 22%. Resorts World also credited\u00a0“higher average visitor spend,” not to mention higher foot traffic, placed at 21,ooo visitors per day. That should increase further when the Maritime Experiential Museum<\/strong> opens shortly. Referring to a series of food festivals, Genting stated,\u00a0“These events have collectively attracted almost 170,000 visitors, which is testimony that our approach to re-position RWS as a lifestyle brand is working.”<\/p>\n

The megaresort is slated for a $734 million makeover next year, although that’s still attendant upon governmental approval (the Singapore<\/strong> administration likes to sign off on casino designs). \u00a0In other news, Genting washed its hands of a South Korea<\/strong> casino project — not a bad move, given the instability on the Korean peninsula. At the same time, Genting took out a “Samurai” bond to underwrite its preliminary casino-development activities in Japan<\/strong>, where it is one of the heavyweights battling for limited integrated-resort licenses.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ohio gaming revenues powered up 5.5% last month despite a supposedly “unfavorable” calendar (one less weekend day). \u00a0Except for a flat outcome at Thistledown Racino ($9.5 million), everyone was revenue positive for the month. Even Jack Cleveland snapped out of … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":18840,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[154,199,120,165,37,171,71,69,95,30,33,111,12,108,187,19],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/20536"}],"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=20536"}],"version-history":[{"count":3,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/20536\/revisions"}],"predecessor-version":[{"id":20556,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/20536\/revisions\/20556"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media\/18840"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=20536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=20536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=20536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}