{"id":28109,"date":"2020-10-08T07:32:26","date_gmt":"2020-10-08T15:32:26","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=28109"},"modified":"2020-10-15T09:07:44","modified_gmt":"2020-10-15T17:07:44","slug":"ohio-still-strong-internet-saps-brick-and-mortar-casinos","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/ohio-still-strong-internet-saps-brick-and-mortar-casinos\/","title":{"rendered":"Ohio still strong; Internet saps brick-and-mortar casinos"},"content":{"rendered":"\n
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Buckeye State casino revenues continue to trend upward, gaining 6% to finish at $164.5 million in win. Now that casinos are open in Detroit<\/strong>, it took some of the sheen off Hollywood Toledo<\/strong>, but not much. It was up 13.5% to $19 million. Hollywood Columbus<\/strong>, up 4%, nipped past it to $19 million. Both were eclipsed by MGM Northfield Park<\/strong>‘s return to the top spot, rising 3% to $20 million. Jack Cleveland<\/strong> rose 5% to $18 million while Hard Rock Cincinnati <\/strong>slipped 3% to $15.5 million. Next to MGM, the best of the racinos was Scioto Downs<\/strong>, up 8% to $16 million. Jack Thistledown<\/strong> (pictured<\/em>) vaulted 21% to $14 million, while Miami Valley Gaming<\/strong> was right behind it, up 1%. Hollywood Mahoning Valley<\/strong>‘s $11 million represented a 3% increase while Hollywood Dayton<\/strong> ascended 13.5% to almost $11 million. Belterra Park<\/strong> brought up the rear with $7 million, a 2% dip.<\/p>\n\n\n\n\n\n\n\n

Small wonder Sheldon Adelson<\/strong> hates online gambling. He’s big into casino-hotels, whose market share is dropping from $68 billion to $44 million. That’s the lowest figure in a decade<\/a> and a 35% shrinkage. What’s driving it? Well, Covid-19<\/strong> obviously and the consequent consumer shift to Internet gambling. Four of the top 10 iPad<\/strong> applications are gambling ones, propelling over $22 million in revenue. According to LearnBonds.com<\/strong>, “DoubleDown<\/em> had the highest revenue among gambling apps at $9.07 million, followed by Slotomania Vegas Casino Slots <\/em>at $4.88 million while Bingo Blitz<\/em> is third at $4.28 million. Jackpot Party<\/em> is fourth with revenue of\u00a0 $4.21 million.”<\/p>\n\n\n\n

Meanwhile, online gambling continues to creep forward from state to state, a trend that may accelerate as state legislatures see the tax revenues that it’s bringing to their out-of-state colleagues. “During a downturn in the economy, many operators usually sacrifice occupancy to maintain room rates. Gaming resorts often suffer more than hotels in recessions,” writes Justinas Baltrusaitis<\/strong>. In Las Vegas<\/strong> we’re currently seeing the opposite: room rates slashed in order to juice occupancy. They also have to contend with the relative paralysis of the tourist economy, a factor with which regional casinos don’t have to contend. That’s why you’re seeing Wall Street<\/strong> cooling toward Vegas-centric stocks … and companies like MGM Resorts International<\/strong> suddenly warming toward Internet play.<\/p>\n\n\n\n

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Bad news at Boyd Gaming<\/strong>. Staff are being terminated at both the California Hotel<\/strong> and still-shuttered Main Street Station<\/strong>. Ironically, the axe fell more heavily at the open California (168 jobs gone) than at Main Street (116 positions nuked). The latter will surely be back but perhaps without Triple 7 Restaurant & Brewery<\/strong>, which lost its manager and master brewer. According to Eater Las Vegas<\/em>, Cal casualties include “a banquet chef, 13 bussers, five cocktail servers, nine cooks, 12 food servers, and a bartender and two bar backs.” Our condolences go out to all of them.<\/p>\n\n\n\n

Overseas sports books are seeing heavy action on the presidential election, including a $67,000 wager on Donald Trump<\/strong> on Sept. 1. (If Trump pulls it out, that should be a big payday.) We haven’t even seen the really significant play yet, which is expected to occur in the fortnight prior to Election Day. The markets were predictive in 2016, with Trump closing a big gap on Hillary Clinton<\/strong>. Said PayPerHead<\/strong> Product Manager Nate Johnson<\/strong>, “We expect a flood of wagers on our platform after the second debate. If Trump performs well, everyone will know he’s over the coronavirus. Hopefully, they both perform well, and our agents see action on both candidates.”<\/p>\n\n\n\n

Final thought<\/strong>, regarding last night’s floor show in Salt Lake City<\/strong>. We haven’t seen that much tap dancing since Ginger Rogers<\/strong> and Fred Astaire<\/strong> tripped the light fantastic in Swing Time<\/em>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Buckeye State casino revenues continue to trend upward, gaining 6% to finish at $164.5 million in win. Now that casinos are open in Detroit, it took some of the sheen off Hollywood Toledo, but not much. It was up 13.5% … 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":[60,244,176,154,18,51,14,26,37,245,71,69,243,19,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/28109"}],"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=28109"}],"version-history":[{"count":2,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/28109\/revisions"}],"predecessor-version":[{"id":28111,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/28109\/revisions\/28111"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=28109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=28109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=28109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}

What’s Las Vegas’ next gambling hot spot? How about Bob’s Big Boy<\/strong> in Centennial<\/strong>? The family friendly eatery will apply for permission to install 15 video poker machines<\/a>, in what is described with some understatement as “a rarity for the 71-year-old brand.” If you can’t wait for the (undisclosed) debut of the restaurant and want a Big Boy fix, head up to Terrible’s Casino<\/strong> in Indian Springs<\/strong>, where the finishing touches are going on an in-house Big Boy. And be sure to have your photo taken with the mascot.<\/p>\n\n\n\n