{"id":26431,"date":"2020-03-17T11:10:48","date_gmt":"2020-03-17T19:10:48","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=26431"},"modified":"2021-03-20T06:40:09","modified_gmt":"2021-03-20T14:40:09","slug":"turnaround-in-springfield-coping-with-covid-19","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/turnaround-in-springfield-coping-with-covid-19\/","title":{"rendered":"Turnaround in Springfield; Coping with Covid-19"},"content":{"rendered":"

Although it seems supremely beside the point at this grave moment, it’s time to report February’s gaming-revenue numbers from Massachusetts<\/strong>. Casinos in the state grossed some $86 million, with $52.5 million of that \"\"made at Encore Boston Harbor<\/strong>, with 61% market share. MGM Springfield<\/strong> grossed $22 million and Plainridge Park<\/strong> scooped up the remaining $12 million (14% market share). Win per day at Encore was $1.8 million, more than double MGM. That has to pass for good news, as the Massachusetts Gaming Commission<\/strong>, one of the most activist in the country, voted to suspend casino operations on March 14, a decision it will reassess in two weeks.<\/p>\n

Plainridge Park was down 7%, with a still-impressive win\/slot\/day of $336. Handle was up 9% so luck was with the players. If it’s any consolation, Plainridge Park is tracking down 9% for the quarter compared to JP Morgan<\/strong>‘s -15% projection. New management seems to be gaining traction at MGM Springfield, up 2%. \"\"Slot revenues\u2014$222 win\/slot\/day, a big improvement\u2014were $16.5 million, with 13% higher win driven by 14% more coin-in. Tables ($5.5 million) played unlucky, though, down 22%. MGM is tracking up 3% for the quarter. As for Encore, slots brought in $25 million ($269 win\/slot\/day) on coin-in of $321 million. $28 million was won at the tables, for $6,714 win\/table\/day compared to MGM’s $1,568 win\/table\/day. Still, Encore is tracking well behind projections, despite $6 million in poker rake. The March calendar would be unfavorable, with two fewer weekend days than last year, but March is pretty much screwed anyway.<\/p>\n

* Despite what certain people in the federal government think, coronavirus does not respect borders and we’re seeing casino closings from Bavaria<\/strong> to Manila<\/strong><\/a>. One of the latest shutdowns took place in \"\"Ontario<\/strong>, where the\u00a0Ontario Lottery &\u00a0Gaming Corp<\/strong>. ordered ‘lights out’ yesterday.\u00a0\u201cThe health and safety of casino customers and employees is a priority for OLG and its service providers,\u201d it said. Casino Niagara<\/strong> and Fallsview Casino Resort<\/strong>, both privately owned, followed suit<\/a>.\u00a0\u201cThe health and wellness of our guests and associates is our top priority\u201d said Niagara Casinos<\/strong> President Richard Taylor<\/strong>, striking the right note. According to Global Gaming Business<\/em>, all casinos in British Columbia<\/strong> have also been ordered closed.<\/p>\n

Although they’ve followed Gov. Gavin Newsom<\/strong>‘s lead and canceled live entertainment, most California<\/strong> casinos seem to be trying to balance caution with business as usual. It’s reported they’re “adding additional \"\"hand sanitizer stations, communicating about preventative measures to employees and following Centers for Disease Control and Prevention<\/strong> and county guidelines.” Unfortunately, they’re having to deal with public ignorance, as manifested by a Loma Linda<\/strong> senior citizen who blew off the health risk of visiting San Manuel Casino<\/strong> by saying,\u00a0\u201cIt seems like the common flu is more prevalent and that doesn\u2019t affect us going out in the public so the coronavirus may not have much impact on us at all.\u201d Tell that to your doctor, sir.<\/p>\n

Tribal casinos that remain in operation report no reduction<\/a> in gambling-floor traffic.\u00a0Soboba Casino Resort<\/strong> Assistant GM Jason Cozart<\/strong> has seen a bit of a turndown but\u00a0\u201cit has not significantly impacted us at this point.\u201d He attributes that to a proactive health response at the casino, saying that, “hopefully, they see the steps we\u2019re taking on the casino floor, in the hotel, in the food areas, and they\u2019ll understand that we take their health and their safety seriously.\u201d Among the entertainers displaced by Covid-19 worries are Pitbull<\/strong> (awwwww!) and Chicago<\/strong>. Almost everybody except Ticketmaster<\/strong> is offering refunds. Tribal casinos are mainly adhering to CDC guidelines, offering more sanitizing options and cleaning more frequently. Only Augustine Casino<\/strong> has gone so far as to close its buffet.<\/p>\n

Casinos in Australia<\/strong> are going much farther, shutting down every other slot machine. They risk alienating locals players but better that than Covid-19<\/strong>, which has already scared off Asian high rollers. Crown Resorts<\/strong> \"\"is cutting down on the number of players who can be at a table game at any one time, while both it and Star Entertainment Group<\/strong> are capping pretty hard<\/a> the number of people who can attend conferences and events. The moves did not impress the Australian bourse, where Star shares fell 24% and Crown ones 11%, the lowest-ever close for Star.\u00a0\u201cReally this is a minimum,” health expert Philip Russo<\/strong> said of the companies’ quarantine efforts.\u00a0\u201cIt will likely slow down spread, but more stringent social distancing would have a greater effect.\u201d<\/p>\n

The Kentucky Derby<\/strong> is still on schedule (Whoops. Forget that<\/a>)\u00a0but things don’t look so good<\/a> for the Preakness<\/strong>. The indefinite closure of Maryland<\/strong> racetracks by Gov. Larry Hogan<\/strong> (R) throws the future of the second leg of the Triple Crown into doubt. Especially since Hogan means business. He said,\u00a0\u201cFailure to follow this order is a crime, and will be enforced if businesses fail to comply.\u201d Duly noted.<\/p>\n

* In an “Oh sh!t” moment, Macao<\/strong> has reported its first case of Coronavirus since early February. It’s much too soon to say what the ramifications on the casino industry will be although it doesn’t bode well for the lifting of visa restrictions.<\/p>\n

* Eldorado Resorts<\/strong> just got some trouble it could live without. The widower of a woman who was strangled and stomped to death at Circus \"\"Circus Reno<\/strong> is suing the resort<\/a>, on grounds of inadequate security. Alleged killer Tevin Raeshaun Johnson<\/strong> has pleaded not guilty and is awaiting trial. Robert Morris<\/strong> is suing Circus Circus for relative chicken feed\u2014$15,000\u2014for “past medical and funeral expenses, attorney fees and for costs accrued from the lawsuit.” Morris, a Tesla Gigafactory<\/strong> contractor, had put his wife and her sister up at Circus Circus while he finished his Tesla obligations. It’s unfortunate they came to such a tragic end.<\/p>\n

* Although Gov. Mike DeWine<\/strong> (R) only runs one state\u2014Ohio<\/strong>\u2014he’s doing a nifty impersonation of a commander in chief. Yes, it means some pain for the casino\/racino business but DeWine’s proactivity gives up hope the crisis will pass sooner rather than later.<\/p>\n","protected":false},"excerpt":{"rendered":"

Although it seems supremely beside the point at this grave moment, it’s time to report February’s gaming-revenue numbers from Massachusetts. Casinos in the state grossed some $86 million, with $52.5 million of that made at Encore Boston Harbor, with 61% … 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":[103,34,266,219,199,4,283,67,22,62,72,112,245,71,69,192,25,79,19,20,233],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/26431"}],"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=26431"}],"version-history":[{"count":6,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/26431\/revisions"}],"predecessor-version":[{"id":29421,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/26431\/revisions\/29421"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=26431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=26431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=26431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}