{"id":28661,"date":"2020-10-21T08:53:09","date_gmt":"2020-10-21T16:53:09","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=28661"},"modified":"2020-12-16T08:46:38","modified_gmt":"2020-12-16T16:46:38","slug":"ill-winds-in-louisiana-boyd-gets-a-boost","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/ill-winds-in-louisiana-boyd-gets-a-boost\/","title":{"rendered":"Ill winds in Louisiana; Boyd gets a boost"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

Gambling win in Louisiana<\/strong> was dealt a double blow last month by those twin vixens Hurricanes Laura and Sally<\/strong>. Hardest-hit as usual was storm magnet Lake Charles<\/strong>, where revenue plunged 65%. Treasure Chest<\/strong> in Kenner<\/strong> lost two days of business, and L’Auberge Lake Charles<\/strong> and Golden Nugget Lake Charles<\/strong> faced costly closures through 9\/11. New Orleans <\/strong>win tumbled 31% and least affected was Shreveport\/Bossier City<\/strong>, down just 4%. Back in Lake Charles, Isle Grand Palais<\/strong> grossed a tiny $100K, a 99% sky fall. Golden Nugget’s $9 million was a 58.5% plunge but still good enough to lead the market. L’Auberge skidded 68% to $7 million, while Delta Downs<\/strong> downshifted 52% to $6 million.<\/p>\n\n\n\n

In the Big Easy, Harrah’s New Orlean<\/strong>s’ 43% nosedive was still good enough for a market-dominating $14 million finish. Boomtown Bossier<\/strong> shed 17.5% for an $8 million gross while Treasure Chest salvaged $6.5 million, a 22% dive. Fair Grounds<\/strong> racino dipped 13% to $3 million and Amelia Belle<\/strong> fell 28% to $2.5 million. Up in Baton Rouge<\/strong>, only decrepit Belle of Baton Rouge<\/strong> lost market share, plummeting 37% to $1 million. L’Auberge Baton Rouge<\/strong> gained 7% for $13 million and Casino Rouge<\/strong> ascended 19% to $.5 million.<\/p>\n\n\n\n\n\n\n\n

In the crowded Shreveport\/Bossier City area, only casino posted revenue gains: market leaders Margaritaville<\/strong> ($15 million, up 23.5%) and Horseshoe Bossier City<\/strong> ($12.5 million, up 3%). Eldorado Shreveport<\/strong> shed 14.5% to $7 million. Boomtown Bossier<\/strong> grossed $4 million (-4%), Sam’s Town<\/strong> stumbled 16% to $4.5 million and Harrah’s Louisiana Downs<\/strong>, soon to be sold, dipped 5% to $3.5 million.<\/p>\n\n\n\n

Boyd Gaming<\/strong>‘s price target was upgraded to $43\/share by JP Morgan<\/strong> analysts. Lead boffin Joseph Greff<\/strong> liked “continued relative spending strength in the locals market (locals GGR is, remarkably, tracking flattish year-over-year), a benign marketing\/promotional spending environment there, and relatively static labor opex.” (The latter undoubtedly helped by keeping several casinos dark.) 3Q20 cash flow is now estimated to be $188 million, increasing to $198 million in the fourth quarter. Although Boyd holds on a modest stake in FanDuel<\/strong>, analysts ascribe $8 of stock price value to that foothold. We don’t disagree, based on the results to date.<\/p>\n\n\n\n

More funny business at Trump International Las Vegas<\/strong>. The Boston Globe<\/em> reports, “During the 2016 campaign, a shell company controlled by a Chinese couple from Vancouver<\/strong> bought 11 units, for $3.1 million, in the Las Vegas<\/strong> tower [Donald<\/strong>] Trump<\/strong> co-owns with the casino magnate Phil Ruffin<\/strong>. The owner of a Las Vegas-based financial services firm told The Times<\/em> he was later visited by two FBI<\/strong> agents asking about the company behind the purchases, which he said had used his office address in incorporation papers without his knowledge. It is not known what became of the inquiry.” That’s lot more units than anybody else was buying Trump Int’l back then, even at that knockdown price. The glittering tower seems to have become one of Las Vegas’ favorite money laundromats, although we may never get to the bottom of it.<\/p>\n\n\n\n

Here’s one solution to outdoor dining in Vegas during the age of Covid: geodesic dining domes<\/a>. The idea is really taking off in Chicago<\/strong> and if they can do that there, why can’t we do it here?<\/p>\n\n\n\n

\"\" Going big or going home, Penn National Gaming<\/strong> is planning to expand Barstool Sports<\/strong> to every state where sports betting is legal next year. More details as we have them. Speaking sports, oddsmakers are catching up to the scoring spree in the NFL<\/strong> and have ratcheted their average over\/under from 50 points to 52.5. It didn’t hurt that the cliffhanger Houston Texans<\/strong>\/Tennessee Titans<\/strong> tilt notched 78 total points. Thanks to the ageless play of Tom Brady<\/strong>, the Tampa Bay Buccaneers<\/strong> are -2.5 favorites coming into Allegiant Stadium<\/strong> against the Las Vegas Raiders<\/strong>. The over\/under stands at 53.5. The week’s biggest odds disparity is for the hopeless New York Jets<\/strong>, out favored by the Buffalo Bills<\/strong> by 10.5.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gambling win in Louisiana was dealt a double blow last month by those twin vixens Hurricanes Laura and Sally. Hardest-hit as usual was storm magnet Lake Charles, where revenue plunged 65%. Treasure Chest in Kenner lost two days of business, … 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":[65,291,60,244,176,42,278,190,287,84,271,69,119,74,243,9,269,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/28661"}],"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=28661"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/28661\/revisions"}],"predecessor-version":[{"id":28667,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/28661\/revisions\/28667"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=28661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=28661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=28661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}