{"id":20603,"date":"2017-11-16T08:22:30","date_gmt":"2017-11-16T16:22:30","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=20603"},"modified":"2017-11-16T08:23:45","modified_gmt":"2017-11-16T16:23:45","slug":"stable-in-atlantic-city-saturated-in-pennsylvania","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/stable-in-atlantic-city-saturated-in-pennsylvania\/","title":{"rendered":"Stable in Atlantic City; Saturated in Pennsylvania"},"content":{"rendered":"

Casino business in Atlantic City<\/strong> was flat last month (not bad with one less weekend day), with the surviving casinos grossing $186 million. Internet<\/strong>\u00a0revenue shot up 23.5% to $20.5 million. Slots were up 1% but tables, where \"\"wagering was down 4.5%, won 3.5% less, for a $48.5 million gross. Borgata<\/strong> made 9% less, for a total of $55 million. Of course, what constitutes a bad month for Borgata would considered cause for celebration anywhere on the Boardwalk. Despite a slight uptick in slot winnings, Borgata was punished at the tables, winning 28% less on 14% less wagering. Caesars Interactive<\/strong> has fallen into last place in terms of Web market share, still dominated by Golden Nugget<\/strong> (30%). Resorts Digital<\/strong>\/PokerStars<\/strong> continues to climb into contention, nipping the Tropicana Atlantic City<\/strong> by a tenth of a percentage point. With two months to go in the year, ‘Net betting in New Jersey<\/strong> has reached its best-ever benchmark.<\/p>\n

Except for Borgata and the Trop (down one measly percent) all A.C. casinos were revenue-positive for the month. The Nugget ($18 million) was up 9.5% as was Caesars Atlantic City<\/strong>, $26 million the richer. Bally’s<\/strong> was up 2% ($17 million) and Harrah’s Resort<\/strong> 3.5% ($30.5 million). Resorts Atlantic City<\/strong> rounded out the group with $15 million, a 5% gain. Although Glenn Straub<\/strong> would have you believe he’s doing Atlantic City a big favor, it seems to be doing well enough without him.<\/p>\n

* Plainridge Park<\/strong> in Massachusetts<\/strong> silenced early doubters last month, up 8% to $13.5 million. Penn National Gaming<\/strong> would seem to have the problem of low attendance during New England Patriots<\/strong> games figured out. The jump in win came despite a slight loosening of the slot hold, as $175.5 million was wagered during the month.<\/p>\n

* Casinos in Detroit<\/strong> were mostly on their game last month<\/a>, with MGM Grand Detroit<\/strong> up 2%, to $48.5 million, and MotorCity<\/strong> rising 3% to $38.5 million. But Jack Detroit<\/strong> or whatever Dan Gilbert<\/strong> is calling Greektown Casino<\/strong> these days slipped 1% to finish with $26 million. MotorCity does so well as an independent that I’m surprised some larger casino company with free cash flow hasn’t snapped it up yet.<\/p>\n

* Table games revenue isn’t in yet in Pennsylvania<\/strong> but slots represent 75% of revenue and were mostly off for the Keystone State. Lady Luck Nemacolin<\/strong> was up 13% ($2.5 million) and Valley Forge Resort Casino<\/strong> rose 12% to $7 million, while Mount Airy Casino<\/strong> managed a 4.5 gain, to $12 million. Everyone else \"\"was revenue-negative, ranging from Parx Casino<\/strong> (-1%, $32 million) to SugarHouse<\/strong> (-4%, $14 million). The rest of roll call reads as follows: Mohegan Sun<\/strong> (-3%, $16.5 million), Harrah’s Philadelphia<\/strong> (-3%, $16.5 million), Presque Isle Downs<\/strong> (-2%, $9 million), The Meadows<\/strong> (-2%, $18 million), Hollywood Casino<\/strong> (-2%, $16.5 million), Sands Bethlehem<\/strong> (-3%, $24 million), Rivers Casino<\/strong> (-2%, $21 million).\u00a0In light of these numbers, it’s very much a question where the Legislature thinks the ‘pent-up demand’ for satellite casinos is, but that’s their problem for the moment.<\/p>\n

*<\/p>\n","protected":false},"excerpt":{"rendered":"

Casino business in Atlantic City was flat last month (not bad with one less weekend day), with the surviving casinos grossing $186 million. Internet\u00a0revenue shot up 23.5% to $20.5 million. Slots were up 1% but tables, where wagering was down … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":12733,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[23,154,44,199,185,172,7,37,112,11,167,91,69,95,30,178,111,12,129,21],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/20603"}],"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=20603"}],"version-history":[{"count":2,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/20603\/revisions"}],"predecessor-version":[{"id":20605,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/20603\/revisions\/20605"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media\/12733"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=20603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=20603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=20603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}