{"id":28103,"date":"2020-10-06T09:01:20","date_gmt":"2020-10-06T17:01:20","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=28103"},"modified":"2020-10-09T06:35:14","modified_gmt":"2020-10-09T14:35:14","slug":"maryland-returns-to-normal-caesars-offloads-assets","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/maryland-returns-to-normal-caesars-offloads-assets\/","title":{"rendered":"Maryland returns to normal; Caesars offloads assets"},"content":{"rendered":"\n
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Pandemic? What pandemic? Maryland<\/strong> casino revenues were 1% above last September’s, indicating a resumption of normality, at least where gambling is concerned. The statewide gross was $149.5 million. That’s despite restrictions that include keeping the casino floor at 50% of capacity. MGM National Harbor<\/strong> was flat at $57.5 million, with its VLTs down 3% but tables up 3%. Since table revenues are taxed at a much lower rate in the Free State, that’s a shift that MGM execs will be happy to take. MGM’s market share was 40%, compared to Maryland Live<\/strong>‘s 34%. The latter was up 3% to $49 million. Horseshoe Baltimore<\/strong> continues to slide into irrelevance (even with both baseball and football in season in its vicinity), down 5% to $17.5 million. Hollywood Perryville<\/strong> vaulted 12.5% to $7 million and Ocean Downs<\/strong> was up 3% to $8 million. Out west, Rocky Gap Resort<\/strong> rose 5% to $5 million. <\/p>\n\n\n\n

West Virginia<\/strong>, by contrast, had a terrible month. Casino revenues fell 21%, with tables plummeting 40% and slot win falling 2o%. Charles Town Races<\/strong> fared worse, thanks to a -49% disaster in table win. Slots slipped 17% for an overall decline of 24%. Up north, in Pennsylvania<\/strong>, while Cordish Cos<\/strong>. still hasn’t opened Stadium Casino<\/strong>, its satellite is almost ready to go. Live Casino Pittsburgh<\/strong>, a $150 million project is set to debut late next month. Cordish execs are trying to remain optimistic in the face of Covid-19<\/strong> restrictions that have sent other area casinos reeling. <\/p>\n\n\n\n\n\n\n\n

When finished, Live will offer 750 slots, 30 tables and a FanDuel<\/strong> sportsbook. There will even be shuffleboard and table tennis, although you can’t bet on them. They’re a “family friendly alternative” for the younger crowd. The 500 employees will encompass 115 dealers and might include some of the 200 newly unemployed refugees from The Meadows Racetrack & Casino<\/strong> or Meadows Hamar<\/strong> OTB. Live Pittsburgh may be the first casino built from the ground up with Coronavirus<\/strong> containment in mind. Not only will masks be mandatory, plexiglas barriers have been erected between slot machines and at table games, chips will be cleaned “regularly” and thermal cameras have been deployed. No buffet, no poker, no valet parking. It’s Covid’s world, we just live in it.<\/p>\n\n\n\n

Over in regular Virginia<\/strong>, the Pamunkey Tribe<\/strong> is making some pre-election promises about its proposed $500 million casino. It has pledged the workforce will be 90% local and 50% people of color<\/a>. Salaries will range as high as $75K\/year. Since we’re talking about 2,000 construction jobs and 2,500 resort ones, that’s a big offer. Pamunkey spokesman Jay Hill<\/strong> acknowledged it would be a heavy lift: “We’re gonna have to train people. We\u2019re not gonna be able to find, in Norfolk, people who have been a casino dealer. That just doesn\u2019t exist right now.\u201d The Pamunkey also promise to help bring a full-service grocery to store to the area, described as a “food desert.” Opponents carp that the tribe’s agreement with Norfolk<\/strong> lacks transparency, although the tribe responds that it’s been more open than any other casino aspirant.<\/p>\n\n\n\n

In other Election Year news, racino legalization will be on the ballot in Nebraska<\/strong>. The state Supreme Court narrowly upheld<\/a> the tripartite initiative, ruling that it still covered a single subject. The Cornhusker State already has six racetracks and the addition of casino gambling, it is speculated, could lead to the development of still more. Predictably, Gambling with the Good Life<\/strong> went off its rocker: “It will open the state for unlimited Indian casinos [and] this will be a disaster and change the face of our great state forever.” Leaving aside the breathtaking racism of that statement, why should Nebraskans continue to export gaming dollars to neighboring states\u2014especially when 70% of the state’s racino cut will go toward lowering property taxes? We think endorsing this proposal is a no-brainer. Congratulations to Ho-Chunk Inc<\/strong>. for successfully shepherding this to the ballot box.<\/p>\n\n\n\n

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Apollo Group<\/strong> gets a consolation prize<\/a> for losing out in the William Hill<\/strong> bidding race. It has been tipped as the likeliest buyer for Hill’s 1,400 United Kingdom<\/strong> betting shops, assets that Caesars Entertainment<\/strong> was hot to unload. The price is undisclosed and the move comes at a time when British gambling outlets are hard-hit by Prime Minister Boris Johnson<\/strong>‘s Covid-19 restrictions. (Johnson had a come-to-Jesus moment after being on a ventilator for three days.) Apollo’s takeover offer for William Hill never got off the launching pad. It was absolutely brilliant of Caesars to threaten to expel Hill from its casinos if it went with Apollo. That kicked the value of the U.K. sports-betting provider right in the ass. Between the William Hill acquisition and the betting-shop sale it’s looking like a quick win-win for the Roman Empire. <\/p>\n\n\n\n

In an unrelated move, casino-less Harrah’s Reno<\/strong> changed hands<\/a> for $41.5 million, with the new owners’ intention being to turn it into a non-gaming mixed-use development. Caesars gets a little over $10 million, with Vici Properties<\/strong> pocketing the rest. Already the ex-casino has become a focal point of controversy, with LIUNA Local 169<\/strong> protesting at the site over Chris Beavor<\/strong>‘s use of non-union construction workers.<\/p>\n\n\n\n

Jottings<\/em><\/strong>: Internet gambling continues its upward march<\/a> in Delaware<\/strong>. The little state posted $808,623 in win in August, the most ever and almost a dollar per resident … One hospitality pundit predicts increased tourist demand for wellness services<\/a> as part of their hotel stay. That’s good news for MGM Grand<\/strong>, which is already doing it. Let’s hope other casino resorts follow suit … Speaking of health, New Zealand<\/strong> is so Coronavirus-free that SkyCity Auckland<\/strong> has been green-lit to operate without crowd restrictions<\/a> or mandatory social distancing. Mask wearing is still recommended. In the meanwhile, Internet gambling has been swelling SkyCity’s coffers … Finally, in the best news Las Vegas<\/strong> has had at least since June, Gov. Steve Sisolak<\/strong> (D) has approved meetings of up to 250 people<\/a>. That still leaves out a lot of conventions but one has to start somewhere and we’re not inclined to look this gift horse in the mouth.<\/p>\n","protected":false},"excerpt":{"rendered":"

Pandemic? What pandemic? Maryland casino revenues were 1% above last September’s, indicating a resumption of normality, at least where gambling is concerned. The statewide gross was $149.5 million. That’s despite restrictions that include keeping the casino floor at 50% of … 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":[244,176,274,70,133,164,268,14,26,278,97,283,22,37,72,245,156,69,95,111,79,243,20,215,139,252],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/28103"}],"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=28103"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/28103\/revisions"}],"predecessor-version":[{"id":28104,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/28103\/revisions\/28104"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=28103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=28103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=28103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}