{"id":26696,"date":"2020-04-09T09:24:19","date_gmt":"2020-04-09T17:24:19","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=26696"},"modified":"2020-04-09T09:32:59","modified_gmt":"2020-04-09T17:32:59","slug":"ohio-indiana-slammed-station-is-george","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/ohio-indiana-slammed-station-is-george\/","title":{"rendered":"Ohio, Indiana slammed; Station is ‘george’"},"content":{"rendered":"

Loss of half a month in Ohio<\/strong> meant a 61% plunge in casino\/racino revenues, to $72 million. Although there were two fewer weekend days in the month that was as nothing compared to Coronavirus<\/strong>. (The calendar is neutral this month, if casinos can salvage any of it.) Declines were pretty \"\"uniform so there’s no point in dwelling on them: Hollywood Toleldo<\/strong> $7 million (-61%), Hollywood Columbus<\/strong> $8.5 million (-61%), Jack Cleveland<\/strong> $7.5 million (-62%), Hard Rock Cincinnati<\/strong> $7 million (-64%), MGM Northfield Park<\/strong> $9.5 million (-61%), Scioto Downs<\/strong> $7 million (-60%), Jack Thistledown<\/strong> $5.5 million (-57%), Miami Valley Gaming<\/strong> $6.5 million (-62%), Belterra Park<\/strong> $3 million (-61%), Hollywood Dayton<\/strong> $4 million (-61%) and Hollywood Mahoning Valley<\/strong> $5 million (-59.5%). Better luck this month.<\/p>\n

Matters were, no surprise, almost as bad in Indiana<\/strong>, where casinos closed March 16, prompting a 56% plummet. The statewide gross was $92.5 million, of which over $5 million was derived from table game win at the state’s two racinos. Indiana Grand<\/strong> grossed $13 million (-52%) and Harrah’s Hoosier Park<\/strong> won $9 million (-52%). Elsewhere the results were Horseshoe Hammond<\/strong> $18 million (-53.5%), Ameristar East Chicago<\/strong> $9 million (-62%), Blue Chip<\/strong> $6 million (-59%), Majestic Star I<\/strong> $4 million (-54%), Majestic Star II<\/strong> $2 million (-64%), Horseshoe Southern Indiana<\/strong> $9 million (-55%), Belterra<\/strong> $4 million (-60%), Tropicana Evansville<\/strong> $7 million (-56.5%), Rising Star<\/strong> $1.5 million (-63.5%), Hollywood Lawrenceburg<\/strong> $7 million (-55%) and French Lick Resort<\/strong> $3.5 million (-62.5%).<\/p>\n

The closure also cut off an estimated $125 million in sports-betting handle. ($75 million in wagers were booked.) Revenue was $5.5 million, compared to February’s $12 million.\u00a0\u201cThis is an unprecedented stoppage for legal sportsbooks, and there is no playbook for them to follow to help \"\"manage the crisis,\u201d said analyst Dustin Gouker<\/strong>. His PlayIndiana.com<\/strong> estimates that the Hoosier State could have generated $50 million in March Madness bets alone. Online bettors are reduced to wagering on the WNBA<\/strong> and NFL<\/strong> drafts.\u00a0\u201cWe don\u2019t expect a lot of betting on the WNBA and NFL drafts, but we suspect that each will draw more interest than either would under ordinary circumstances,\u201d said analyst Jessica Welman<\/strong>. Ameristar\/DraftKings<\/strong> led online betting with $33 million, followed by Blue Chip\/FanDuel<\/strong> with $26 million. Retail sports books were paced\u00a0by Horseshoe Hammond’s $3.5 million and Hollywood Lawrenceburg’s $2.5 million.<\/p>\n

* Kudos to Station Casinos<\/strong> for extending pay for its workforce<\/a> through May 15. That includes 700 part-timers who were extended to full-time status for the duration of the program. April 30 is the nominal date for reopening of Nevada<\/strong>‘s casinos but we’ve yet to hear of a casino executive who takes that seriously.<\/p>\n

* New jobless claims edged down a bit<\/a>, 6.61 million compared to the previous week’s 6.87 million. The Wall Street Journal<\/em> is predicting 13% unemployment by June. That would be worse than the recession of 1982 and have us heading toward Great Depression<\/strong> territory. (Let’s hope not.) The federal government has provided for considerable short-term relief but, reports the Boston Globe<\/em>, “implementation of the rescue packages has been shambolic.” We’re hearing that a lot<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Loss of half a month in Ohio meant a 61% plunge in casino\/racino revenues, to $72 million. Although there were two fewer weekend days in the month that was as nothing compared to Coronavirus. (The calendar is neutral this month, … 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":[60,244,176,154,277,14,199,198,165,68,245,71,69,265,243,57],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/26696"}],"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=26696"}],"version-history":[{"count":3,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/26696\/revisions"}],"predecessor-version":[{"id":26706,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/26696\/revisions\/26706"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=26696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=26696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=26696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}