{"id":23670,"date":"2019-03-08T10:07:26","date_gmt":"2019-03-08T18:07:26","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=23670"},"modified":"2019-04-19T11:52:21","modified_gmt":"2019-04-19T19:52:21","slug":"business-as-usual","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/business-as-usual\/","title":{"rendered":"Business as usual"},"content":{"rendered":"

Ohio<\/strong> casinos grossed $155 million last month, a 5.5% increase. Hollywood Toledo<\/strong> was 2.5% to $16 million and Hollywood Columbus<\/strong> \"\"rose 3% to $19 million. Hollywood Dayton<\/strong> was also up 3% to $9 million.\u00a0Hollywood Mahoning Valley<\/strong> leapt 7% to $10 million. That was nothing compared to a 38% vault at Belterra Park<\/strong>, up to $6 million. The Boyd Gaming<\/strong> property is tracking well ahead of Wall Street<\/strong> projections for the quarter. Scioto Downs<\/strong> was up 2% to $14 million, while Hard Rock Rocksino<\/strong> was 1.5% higher at $20 million. Churchill Down<\/strong>s’ Miami Valley Gaming<\/strong> jumped 14% to $14 million. Even Dan Gilbert<\/strong>‘s mix of casinos and racinos was revenue-positive for the month. Jack Cleveland<\/strong> gained 5% to $17 million, Jack Thistledown<\/strong> was up 6% to $11 million and Jack Cincinnati<\/strong> grew 4% to $18 million. In sum, it was a good month for all concerned.<\/p>\n

Next door in Indiana<\/strong>, casinos and racinos eked out a 1% gain. Horseshoe Hammond<\/strong> dominated the Hoosier State with $31 million (-1%). Boyd was down 1.5% at Ameristar East Chicago<\/strong> ($17 million) but \"\"gained 8.5% at Blue Chip<\/strong> ($12 million). Majestic Star I<\/strong> was up a modest 3% to $7.5 million but Majestic Star II<\/strong> grew 14.5% to $5 million. Eldorado Resorts<\/strong> had a particularly adverse month at Tropicana Evansville<\/strong>, down 10% to $12 million. Rising Sun<\/strong> was flat at $4 million, Hollywood Casino Lawrenceburg<\/strong> slipped 2% to $14.5 million, while Hoosier Park<\/strong>‘s 1% slippage brought it up just shy of $15 million.<\/p>\n

Caesars Entertainment<\/strong>‘s other track, Indiana Downs<\/strong>, grossed $21.5 million, a 7% gain, and Caesars Southern Indiana<\/strong> gained 3% to $14 million. French Lick Resort<\/strong> banked $8 million (+8%) and original-flavor Belterra<\/strong> took home $7 million for a 2% gain. Congratulations, gentlemen and ladies, and thanks for playing.<\/p>\n

* Over in the Far East, Wynn Resorts<\/strong> quietly opened an office in Japan<\/strong>, the better to lobby for a megaresort. And in Macao<\/strong>, MGM China<\/strong> gave non-management employees a pay increase, even as it moved to jettison payroll back home.<\/p>\n

Speaking of new frontiers, JP Morgan<\/strong> analyst Joseph Greff<\/strong> is projecting a 9.5% return on investment from Wynn Boston Harbor<\/strong> — that is, if Attorney General Maura Healey<\/strong> doesn’t scuttle the project. \"\"The Boston<\/strong> debut\u00a0will coincide with the reopening of Wynn Golf Club<\/strong> back in Las Vegas<\/strong>, while Wynn Macau<\/strong> will get a renovation and redesigned casino floor in an effort to lure premium-mass market players back to the downtown. New construction at Wynn Palace<\/strong> isn’t expected before next year at the earliest. Greff noted certain concerns overhanging the stock, including unresolved regulatory issues, but wrote “we believe perception is worse than reality for most of these risks.”<\/p>\n

* Horseracing at Santa Anita<\/strong> has been suspended indefinitely after 21 horses were put down over a period of two months. That works out to \"\"2.36 deaths per 1,000 starts.\u00a0\u201cObviously, one horse is too many.\u00a0The recent rash is just horrible. We need to definitely take a step back and evaluate everything,\u201d said COO Tim Ritvo<\/strong>. The rash of euthanasia is attributed to the condition of the track, which is expected to be examine in exacting detail.<\/p>\n

* In a modest coup for William Hill<\/strong>, it has landed the contract<\/a> to run the M Resort<\/strong> sports book. M already has a sports book but obviously wanted to tap into the William Hill network (and maybe offload some labor costs). It makes sense on a couple of fronts. Tropicana Las Vegas<\/strong>, also owned by Penn National Gaming<\/strong>, is already a William Hill client, and the book was previously run by CG Technology<\/strong>, an operator of dubious repute. CG Technology CEO Parikshat Khanna<\/strong> said, \u201cWe want everyone to know that we\u2019re still going to operate the book through April 30, including the peak March Madness period.” Is that a promise or a threat?<\/p>\n

* My wife and I were watching Akira Kurosawa<\/strong>‘s Ikiru<\/em> (To Live<\/em><\/a>) the other night. The protagonist, Mr. Watanabe (Takashi Shimura<\/strong>) learns he has terminal cancer and wants to spend 50,000 yen in one night. I wanted to shout, “Go to a casino!” Of course, Japan didn’t have casinos in 1952 — still doesn’t — but he visits a couple of pachinko parlors. It’s a start.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ohio casinos grossed $155 million last month, a 5.5% increase. Hollywood Toledo was 2.5% to $16 million and Hollywood Columbus rose 3% to $19 million. Hollywood Dayton was also up 3% to $9 million.\u00a0Hollywood Mahoning Valley leapt 7% to $10 … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":15390,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[40,98,60,244,34,148,176,154,199,198,67,68,171,63,62,191,112,245,10,71,69,25,243,9,38,252,233],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/23670"}],"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=23670"}],"version-history":[{"count":2,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/23670\/revisions"}],"predecessor-version":[{"id":23970,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/23670\/revisions\/23970"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media\/15390"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=23670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=23670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=23670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}