{"id":20757,"date":"2017-12-11T09:51:13","date_gmt":"2017-12-11T17:51:13","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=20757"},"modified":"2017-12-11T09:51:47","modified_gmt":"2017-12-11T17:51:47","slug":"20757-2","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/20757-2\/","title":{"rendered":"Indiana, Missouri see happy days; Don’t count on Millennials"},"content":{"rendered":"

It looks like Penn National Gaming<\/strong> is picking a good time to acquire Pinnacle Entertainment<\/strong>, to judge by the healthy performance of the Missouri<\/strong> and Indiana<\/strong> markets \"\"(though it must be kicking itself for having missed the loophole that allowed Caesars Entertainment<\/strong> to buy Centaur Gaming<\/strong> — or maybe Centaur’s asking price was too rich for Penn’s wallet). In any event, despite foot traffic in Indiana being 11%, players wagered $16.5 million more, putting the Hoosier State 4% over last year ($181 million). Caesars was the big winner, up 5.5% ($33.5 million) aboard Horseshoe Hammond<\/strong> and 9% higher ($22 million) on Horseshoe Southern Indiana<\/strong>. The headline item, however, was Tropicana Entertainment<\/strong>‘s debut of land-based gambling in Evansville<\/strong>, where its new casino saw revenues skyrocket 33% for a gross of $13 million. You just can’t keep a good market down.<\/p>\n

Ameristar East Chicago<\/strong> was flat $17 million, Blue Chip<\/strong> was down 4% to $12 million, and the two Majestic Star<\/strong> boats performed about as usual, with Majestic Star I<\/strong> flat at $7 million and unloved Majestic Star II<\/strong> dropping 5.5% to $4.5 million. Centaur’s two coveted racinos garnered $22 million (+11%) at Indiana Grand<\/strong> and $16 million (flat) at Hoosier Park<\/strong>. To the south, French Lick Resort<\/strong> made $7 million, up 2%, while the sun set on Rising Sun<\/strong>, down 12% to $4 million. Hollywood Lawrenceburg<\/strong> was down a percentage point, grossing $13.5\u00a0million to round out the month.<\/p>\n

As for the Show-Me State, gamblers spent 7% more, despite being 3.5% fewer in number. Tropicana also had dramatic results in St. Louis<\/strong>, where Lumiere Place<\/strong> vaulted 18%,
\n\"\"grossing $12 million. Ameristar St. Charles<\/strong> rose 5% to $21 million and River City<\/strong> gained 3% to $17.5 million. Hollywood St. Louis<\/strong> slipped a bit, down 2% to $18.5 million. Among the rural casinos, Affinity Gaming<\/strong>‘s Mark Twain<\/strong> property dipped 5% to $2.5 million and the Isle of Capri-branded casinos were down by roughly 2.5%. Harrah’s North Kansas City<\/strong> had a good month, up 6.5% to $14 million, while Argosy Riverside<\/strong> jumped 16% also to land on $14 million. Ameristar, by contrast, tumbled 7% but still grossed $15 million.<\/p>\n

* In another sign that casinos are putting their eggs in the wrong basket by betting the house on Millennials, a recent survey has found that more than two-thirds of Millennials aren’t paying into retirement fund, preferring to retire student debt<\/a>. That doesn’t sound like a generation that’s got a lot of discretionary income now and won’t have it when its AARP<\/strong> years roll around. It’s a clear case of casinos ignoring the bird in the hand for the two in the Millennial bush.<\/p>\n

* Despite having the most nightlife options and the most music venues per capita (and the greatest quantity of legal fireworks), Las Vegas<\/strong> only finished 10th<\/a> on WalletHub<\/strong>‘s study \"\"of the best places to spend New Year’s Eve<\/strong>. Why? Poor urban planning and plain old greed. Sin City ranks 55th in walkability (I bet Jim Murren<\/strong> would have something to say about that), 23rd in music events per capita — clearly failing to capitalize, pardon the pun, on the number of venues — and 24th in affordability of aforesaid events. Price-gouging also afflicted Atlantic City<\/strong> and New Orleans<\/strong>, Among the more wallet-friendly cities with nearby casino action are New York<\/strong>, San Diego<\/strong>, Chicago<\/strong>, Miami<\/strong> and now Washington, D.C.<\/strong> Last place goes to North Las Vegas<\/strong>, #100 on the list. Gotta work on that, fellas.<\/p>\n","protected":false},"excerpt":{"rendered":"

It looks like Penn National Gaming is picking a good time to acquire Pinnacle Entertainment, to judge by the healthy performance of the Missouri and Indiana markets (though it must be kicking itself for having missed the loophole that allowed … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":14189,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[173,40,23,60,34,14,199,36,198,7,58,68,84,53,72,39,78,69,30,19,21],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/20757"}],"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=20757"}],"version-history":[{"count":2,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/20757\/revisions"}],"predecessor-version":[{"id":20759,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/20757\/revisions\/20759"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media\/14189"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=20757"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=20757"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=20757"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}