{"id":25357,"date":"2019-11-13T07:50:29","date_gmt":"2019-11-13T15:50:29","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=25357"},"modified":"2019-11-13T07:50:29","modified_gmt":"2019-11-13T15:50:29","slug":"a-swing-through-the-rust-belt","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/a-swing-through-the-rust-belt\/","title":{"rendered":"A swing through the Rust Belt"},"content":{"rendered":"

What does Ohio<\/strong>‘s economy have that other Rust Belt states do not? We’d really like to know, since Ohio consistently outperforms its brethren when it comes to gaming revenue. Last month, casino win was up 5.5% to $158.5 million. Racinos (up 8%) drove most of the gain. \"\"Only Hollywood Toledo<\/strong> blew it, down 1.5% to $16 million. The biggest gainer was Hollywood Dayton<\/strong>, leaping 14% to $10 million. Just a tenth of a percent\u00a0behind was Jack Thistledown<\/strong>, grossing $12 million. Hollywood Mahoning Valley<\/strong> also impressed, jumping 10.5% to $11 million. In sheer dollar volume, MGM Northfield Park<\/strong>‘s $21 million (up 2%) led the state, while Hollywood Columbus<\/strong> was a distant second with $18.5 million (also up 2%).<\/p>\n

Both of the “Jack”-branded casinos grossed $17 million, with Cleveland<\/strong> gaining 5% and Cincinnati<\/strong> up 4%. As for the remaining racinos, Scioto Downs<\/strong> bounced 9% upward to $15 million and Miami Valley Gaming<\/strong> also gained 9% for a $14 million haul. Belterra Park<\/strong>‘s $7 million represented a 3% gain. In the meantime, we wait to see what Hard Rock International<\/strong> will do when it takes over in Cincinnati.<\/p>\n

Next door in Indiana<\/strong>, casino revenues edged up 1%, grossing $175 million. “Historical racing” in Kentucky<\/strong> appears to be cutting into southern Hoosier State casinos’ revenue, \"\"although that doesn’t explain an anomalous 12.5% gain at Hollywood Lawrenceburg<\/strong> ($14.5 million). Belterra<\/strong> slipped 6% to $8 million, Rising Star<\/strong> fell 9% to $4 million (Full House Resorts<\/strong> really needs that new Terre Haute<\/strong> casino) and French Lick Resort<\/strong> was off 5% to $7.5 million. Gainers included Tropicana Evansville<\/strong> was up 2% for $11.5 million, Hoosier Park<\/strong> gained a percentage point for $15.5 million and Indiana Downs<\/strong> added 9% for an impressive 19.5% million.<\/p>\n

Caesars Entertainment<\/strong> was also dominant in the northern tier, where Horseshoe Hammond<\/strong>\u00a0grossed $35 million, up 4.5%. Some of that may have come at the expense of Ameristar East Chicago<\/strong> down 4% to $17.5 million. Blue Chip<\/strong> gained 5% to finish with $13 million. The two Majestic Star<\/strong> boats were lower in the water, with Majestic Star I<\/strong> down 3% to $7 million and Majestic Star II<\/strong> tumbling 11% to $4.5 million. Spectacle Entertainment<\/strong> can’t be shot of those boats soon enough.<\/p>\n

Sports betting in Indiana saw $92 million in handle, with casinos keeping $11 million. Online wagering representing $48 million of that, led by DraftKings<\/strong> with $39.5 million \"\"and nobody else even close. Retail wagering was led by Horseshoe Hammond ($11 million wagered), followed by Hollywood Lawrenceburg with $7 million in handle. Ameristar East Chicago also took $7 million in bids. Explained gaming analyst Dustin Gouker<\/strong>,\u00a0“Indiana’s potential online market is particularly substantial. Indiana does not require out-of-state bettors to register in person at a retail sports book, so out-of-state residents simply need to cross the state line to place a bet.” He added,\u00a0“Indiana is a unique market because it has so many large markets without legal sports betting so close to its borders,” noting the proximity of the Louisville<\/strong> and Chicago<\/strong> metro areas.<\/p>\n

Speaking of Illinois<\/strong>, it took a hard hit, its casinos down 5% (before<\/em> any dilution could take effect). October 2019 had a neutral calendar with 2018, so an explanation for the downturn does not immediately present itself, although ever-expanding slot routes could play a role. \"\"The gross was a relatively paltry $107 million. The St. Louis<\/strong> market did just fine. Argosy Belle<\/strong> grossed $4 million, up 1.5% while Casino Queen<\/strong> leapt 17.5% to $9 million. Up north, Rivers Casino Des Plaines<\/strong> dominated with $35 million but even that was an 8% drop-off. Hollywood Aurora<\/strong> was flat with $9 million, Empress Joliet<\/strong> grossed $9 million also (down 4%) and Harrah’s Joliet<\/strong> tumbled 10% to $13 million. Grand Victoria in Elgin<\/strong> grossed $12 million, an 8.5% decline.<\/p>\n

As for the outlying casinos, they were all revenue-negative. Par-A-Dice<\/strong>\u00a0plunged 12% to $5.5 million, Jumer’s Casino Rock Island<\/strong> slipped 4% to $5 million and Harrah’s Metropolis<\/strong> slid 7% to $6 million. Legislators and Gov. J.B. Pritzker<\/strong> (D) who decided to saturate the Illinois market with new casinos and slot parlors need to lay off the loco weed. There’s no more money to be made here.<\/p>\n

* If you need something to put a smile on your face and warm your heart, the tale of escape artist<\/a> Qulity the Cat<\/strong> ought to do the trick.<\/p>\n","protected":false},"excerpt":{"rendered":"

What does Ohio‘s economy have that other Rust Belt states do not? We’d really like to know, since Ohio consistently outperforms its brethren when it comes to gaming revenue. Last month, casino win was up 5.5% to $158.5 million. Racinos … 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":[60,244,176,154,277,199,198,190,165,58,68,116,245,71,69,99,242,92,265,243],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/25357"}],"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=25357"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/25357\/revisions"}],"predecessor-version":[{"id":25358,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/25357\/revisions\/25358"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=25357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=25357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=25357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}