{"id":25379,"date":"2019-11-15T12:46:33","date_gmt":"2019-11-15T20:46:33","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=25379"},"modified":"2019-11-15T12:46:33","modified_gmt":"2019-11-15T20:46:33","slug":"ocean-outperforms-atlantic-city-encore-boston-crushes-competition","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/ocean-outperforms-atlantic-city-encore-boston-crushes-competition\/","title":{"rendered":"Ocean outperforms Atlantic City; Encore Boston crushes competition"},"content":{"rendered":"

Atlantic City<\/strong> casino revenues were $202 million last month, flat with the year previous. Slot revenues were up 3.5%, table win down 6%. Despite flat wagering at the tables and slots, Borgata<\/strong> gained 6% at the slots and \"\"ceded 7% at the tables for an overall 1.5% increase. It grossed $51.5 million. The Caesars Entertainment<\/strong> trio was up 1%, managing to gain 3% on slot win, an advance almost negated by 3.5% less table win on 7% less wagering and despite an astronomical hold percentage. Caesars Atlantic City<\/strong> grossed $22 million, an 8% increase, Harrah’s Resort<\/strong> reported $24 million, up 1% and Bally’s Atlantic City<\/strong> slid 9% to $13 million.<\/p>\n

At the risk of burying the lead, Ocean Resort<\/strong> outperformed the competition rather spectacularly, skyrocketing 41% to $18.5 million, putting it up there with the big boys. Tropicana Atlantic City<\/strong> continues to wither, down 12.5% to $22 million. Hard Rock Atlantic City<\/strong> nosed past Harrah’s for a second-place finish with $24.5 million, a 5% uptick. Golden Nugget<\/strong>‘s $15 million represented a 9.5% decline while Resorts Atlantic City<\/strong> clung doggedly to last place with $12 million, a 12% slippage.<\/p>\n

New Jersey<\/strong> sports books achieved their first-ever month of $488 million in handle. That’s supposed to be surpassed this month, what with \"\"the rise\u00a0of NBA<\/strong> betting. Revenue in October was $46.5 million, of which $6 million will go to the state.\u00a0“If New Jersey is going to pass Nevada<\/strong> during the NFL<\/strong> season, it will be in large part due to the comparative popularity of basketball in the Northeast,” gaming analyst Dustin\u00a0Gouker<\/strong> said. “In Nevada, football betting is king, and it’s nearly as popular in New Jersey. But a key differentiator between the two markets is that New Jersey bettors’ have shown more interest in other major sports, especially basketball.”<\/p>\n

85% of sports wagers were Internet-derived, dominated by\u00a0FanDuel Sportsbook<\/strong>\/PointsBet<\/strong> with $21 million in revenue. FanDuel’s Meadowlands<\/strong> sports book led the walk-up market with $4 million in gross revenue. As for online casino games, Golden Nugget beat its own record, grossing $16.5 million of the state’s $45 million total.\u00a0“What the Golden Nugget continues to prove is that its online casino can generate millions in revenue and grow at an overwhelming pace without a negative impact on their own land-based operations,” said Eric Ramsey<\/strong> of PlayNJ.com<\/strong>.\u00a0“When the first online casinos launched in 2013, many thought such a dynamic would be impossible. But clearly that has been proven wrong.”<\/p>\n

* Pennsylvania<\/strong>‘s slots performance was nothing to write home about, being flat with last year. This doesn’t bode well for the wholesale \"\"expansion of gambling in the Keystone State. Boyd Gaming<\/strong>‘s Valley Forge Casino Resort<\/strong> continues to be a coffee achiever, up 13.5% to $8 million. Top grosser, no surprise, was Parx Casino<\/strong>, gaining 7% to $34.5 million. It was followed at some distance by Rivers Casino Pittsburgh<\/strong>, up 8% to $24 million. Wind Creek Bethlehem<\/strong>‘s $22 million represented a 3.5% dip, still good for third place statewide.<\/p>\n

In the Philadelphia<\/strong> area, Rivers Casino Philadelphia<\/strong> (remember, no more SugarHouse<\/strong>) grossed $14 million, down 3.5% and Harrah’s Philadelphia<\/strong> pulled in $15 million, minus 4%. Also back in the pack were Mohegan Sun at Pocono Downs<\/strong> ($15 million, -1%), Mount Airy<\/strong> ($12 million, -1%), Presque Isle Downs<\/strong> ($9 million, -3%) and Lady Luck Nemacolin<\/strong>, grossing only $2.5 million but jumping\u00a026%. Penn National Gaming<\/strong> had mixed luck, getting hammered at The Meadows<\/strong> racino ($14.5 million, -17%) but gaining 3% at Hollywood Casino<\/strong> for a $16 million finish.<\/p>\n

* In Massachusetts<\/strong>, Wynn Resorts<\/strong> may finally be biting into Plainridge Park<\/strong>‘s slot revenue. The latter declined to $302\/win\/slot\/day, still awfully impressive by industry standards. The \"\"Penn property grossed $11 million. Encore Boston Harbor<\/strong> grossed $46 million (or almost $1.5 million a day), grossing $22 million at the slots, win\/slot\/day of $228. Win\/table\/day was $5,308, crushing the $1,754 posted by MGM Springfield<\/strong>. The latter’s slot win per day was a subpar $186. The overall gross was $21 million. Competition from tribal casinos in Connecticut<\/strong> is clearly proving more difficult than MGM Resorts International<\/strong> expected.<\/p>\n

* Japan<\/strong>‘s government has nominated four members<\/a> to its Casino Management Committee<\/strong>. It’s progress. The nominees represent academia, the defense sector, taxation and law enforcement.<\/p>\n

* The government of Macao<\/strong> has no great expectations for gaming revenue in 2020. It is budgeting for a (non-inconsiderable) $32 billion in casino revenue<\/a>. GGR Asia<\/em> cautions that “The local authorities are usually \"\"conservative in their annual forecasts on direct taxable income from gaming, typically underestimating the eventual tallies by a wide margin.” After a strong 2018, gaming revenue is down 2% year to date. In other Macanese news, the health department is cracking down on smoking in casinos, handing out 1,183 citations<\/a> year to date. The worst offender? MGM Grand Macau<\/strong>, named a “black spot” for its\u00a0number of violations. The city has authorized 613 smoking lounges in casinos but players don’t seem to be availing themselves of them.<\/p>\n","protected":false},"excerpt":{"rendered":"

Atlantic City casino revenues were $202 million last month, flat with the year previous. Slot revenues were up 3.5%, table win down 6%. Despite flat wagering at the tables and slots, Borgata gained 6% at the slots and ceded 7% … 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":[23,60,244,14,199,117,278,172,165,37,171,62,112,245,167,257,69,95,25,242,243,129,20,233],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/25379"}],"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=25379"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/25379\/revisions"}],"predecessor-version":[{"id":25380,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/25379\/revisions\/25380"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=25379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=25379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=25379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}