{"id":28933,"date":"2020-12-15T09:39:07","date_gmt":"2020-12-15T17:39:07","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=28933"},"modified":"2020-12-22T06:45:42","modified_gmt":"2020-12-22T14:45:42","slug":"players-avoid-atlantic-city-sisolak-gets-smoked","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/players-avoid-atlantic-city-sisolak-gets-smoked\/","title":{"rendered":"Players avoid Atlantic City; Sisolak gets smoked"},"content":{"rendered":"\n
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Americans need further economic stimulus. So, by extension, do casinos. The rebound occasioned by the CARES Act<\/strong> has petered out and gambling win is drooping everywhere. Also, with Covid-19<\/strong> on the rampage (300,000 U.S. deaths and climbing), players seem to be staying home in droves. Atlantic City<\/strong> casinos took a shellacking last month, plummeting 35% after what had seemed to be a promising recovery. The nine casinos grossed $146.5 million, a result which two fewer weekend days than last year didn’t help. As an indicator of stay-at-home players, Internet gambling win catapulted 87% to $92 million, while sports betting (87% online) shot up 53%, resulting in $50 million in revenue. As it may just be a matter of time before New Jersey <\/strong>re-closes casinos, make hay on the Web while the sun shines, Big Gaming.<\/p>\n\n\n\n

Slot win on the Boardwalk was down 35% and table revenue fell 33%. Borgata<\/strong> was deserted by slot players, with win plunging 47%. Table win was down 35% for a cumulative slippage of 38%. The Caesars Entertainment<\/strong> trio was very unlucky at the tables, tailspinning 60% and slots weren’t much better, -45%. JP Morgan<\/strong> analyst Joseph Greff<\/strong> had projected CZR to be off 27% in the fourth quarter but it’s tracking closer to 50%. The only revenue-positive casino in town was Hard Rock International<\/strong>, up 19% to $28 million (Joe Lupo<\/strong>‘s onto something), while Ocean Casino Resort<\/strong> was ever so slightly off its feed, down 1% to $19 million. Borgata grossed $36.5 million, while Twin River Holdings<\/strong> (now Bally<\/strong>) had an inauspicious first month at Bally’s Atlantic City<\/strong>, falling 53% to $6 million. Caesars Atlantic City<\/strong> was an ignominious -56% at $12.5 million and Harrah’s Resort<\/strong> little better at -51% ($12.5 million), while Tropicana Atlantic City<\/strong> reported $14 million (-42%). The promised, $400 million reinvestment can’t come a moment too soon, it would appear. Resorts Atlantic City<\/strong> managed $9 million (-36%) and the Golden Nugget<\/strong> was close behind, if down 49%.<\/p>\n\n\n\n\n\n\n\n

Phew! Now for the upside. The Nugget maintained i-gaming dominance, with 28% market share and $26 million, followed by Borgata’s 26% ($23.5 million) and Resorts’ 23% ($21 million). Caesars could only muster 15.5%. As far as sports betting goes, FanDuel<\/strong> is still the top dog at 49% with Resorts Digital<\/strong> well behind at 29%. Football handle was up 105%, some 46% of total wagering. Total handle was $931 million, with DraftKings<\/strong> outperforming Credit Suisse<\/strong> analyst Ben Chaiken<\/strong>‘s expectations, booking $14.5 million against an expected $12 million. Non-major league sports performed surprisingly well at the wickets, too. \u201cWhen the traditional major betting sports went quiet, most of the major online sportsbooks were really good at engaging their customers with an array of offerings, from golf to table tennis,\u201d said Eric Ramsey<\/strong>, analyst for PlayUSA.com<\/strong>. \u201cWhat is surprising is that those efforts continue to pay dividends even as the major sports have returned.\u201d<\/p>\n\n\n\n

Atlantic City’s woes were nothing compared to those of Detroit<\/strong> casinos, whose November was truncated, ending on the 17th by state order. MGM Grand Detroit<\/strong> led with $20.5 million, a 62% downturn, closely followed by MotorCity<\/strong>‘s $17.5 million (-57%) with Greektown<\/strong> way behind at $10 million, a 66% plunge. This should redound to northeast Ohio<\/strong>‘s benefit but hasn’t really done so yet.<\/p>\n\n\n\n

“Strange.” That’s one way to describe the NFL<\/strong> season to date and TheLines.com<\/strong> adopted it, while combing through the leading sports books to find “remarkable” consistency in performance. Although home teams are losing more than average, spreads are being covered at the same rate (and that’s the really important thing, isn’t it?). Home teams are winning at a 50.5% clip this year, compared to 56.5% last season. Although point spreads overall continue to narrow, there are a few projected gimmes next weekend: Los Angeles Rams<\/strong> 16.5-point favorites over the New York Jets<\/strong>, Baltimore Ravens<\/strong> over the Jacksonville Jaguars<\/strong> by 13 and the slumping Pittsburgh Steelers<\/strong>, predicted to get healthy at the expense of Cincinnati Bengals<\/strong> by 12 (and if you can’t beat the Bengals it may be time to hang it up). After being trampled by the Indianapolis Colts<\/strong>, the Las Vegas Raiders<\/strong> have been exposed as playoff pretenders. However, they’re forecast to eke out a three-point win over the hapless Los Angeles Chargers<\/strong>, with a gaudy over\/under of 54.5. And if they can’t do that it might be time to start thinking about next season. Las Vegans, welcome to what Oakland<\/strong> suffered far too long.<\/p>\n\n\n\n

Although Nevada<\/strong> casinos have been restricted to 25% of capacity, Gov. Steve Sisolak<\/strong> (D) is being called out for giving them “special treatment.” Americans for Nonsmokers Rights<\/strong> asserts that Spicy Sisolak needs to ban indoor smoking, stat. Wrote ANR, “Public health officials across Nevada have encouraged the State to require a smokefree indoor policy at casinos. It\u2019s past time for Governor Sisolak to prioritize the health and safety of gaming employees by immediately requiring a smokefree indoor policy as Nevada casinos.” Indeed, the Southern Nevada Health District<\/strong>, Washoe County Health District<\/strong>, and Carson City Health & Human Services<\/strong> have gone on record as follows: \u201cBusinesses cannot adequately reinforce the proven risk reduction strategy of wearing face coverings while also allowing smoking \u2026 The primary mode of transmission of the virus is through person-to-person spread of respiratory droplets. As people remove face coverings to smoke or vape, they are exhaling respiratory droplets over a longer distance.” Yuck! Your move, Steve.<\/p>\n\n\n\n

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Jottings<\/em><\/strong>: In an Atlantic City <\/strong>footnote, the poker room at Harrah’s Resort<\/strong> is set to reopen Dec. 26 … Crown Resorts<\/strong> can’t catch a break these days. It’s now the target of a class-action lawsuit which alleges that shareholders were “duped and harmed” over a six-year period … Here’s an idea for Las Vegas<\/strong>: Got empty hotel suites? Convert them to private dining rooms<\/a>. It’s not just a trend that’s sweeping the country, it’s a way to monetize idle hotel-room inventory. One Philadelphia<\/strong> hotel is charging $65 for a three-course meal plus $50 for three hours’ use of the suite. It’s a great way to beat the Coronavirus risks of dining at a restaurant … Hard Rock International<\/strong> is belatedly getting into the sports-betting game. It’s launching Hard Rock Digital<\/strong>, to be headed by i-gaming castoff Rafi Ashkenazi<\/strong>, once he finished “a garden leave period,” whatever that is. Have fun planting those turnips, Rafi … Now that Joe Biden<\/strong> is officially president-elect of these United States<\/strong>, might we suggest a potential appointment to him? What about early and prescient supporter Jim Murren<\/strong>? Sure he’s busy right now trying to refloat Cirque du Soleil<\/strong>. But we think he’d be better employed as ambassador to Japan<\/strong>. He knows the country, has made many friends over there and is exquisitely diplomatic. How about it, Mr. President?<\/p>\n","protected":false},"excerpt":{"rendered":"

Americans need further economic stimulus. So, by extension, do casinos. The rebound occasioned by the CARES Act has petered out and gambling win is drooping everywhere. Also, with Covid-19 on the rampage (300,000 U.S. deaths and climbing), players seem to … 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":[293],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/28933"}],"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=28933"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/28933\/revisions"}],"predecessor-version":[{"id":28934,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/28933\/revisions\/28934"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=28933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=28933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=28933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}