{"id":29852,"date":"2021-07-16T08:24:31","date_gmt":"2021-07-16T16:24:31","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=29852"},"modified":"2021-08-17T07:53:53","modified_gmt":"2021-08-17T15:53:53","slug":"massachusetts-stumbles-louisiana-cruises-big-blunder-at-circa","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/massachusetts-stumbles-louisiana-cruises-big-blunder-at-circa\/","title":{"rendered":"Massachusetts stumbles, Louisiana cruises; Big blunder at Circa"},"content":{"rendered":"\n
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Shazam! Massachusetts<\/strong> casino revenues for June were $84 million, 67% higher than 2019. But wait … as Deutsche Bank<\/strong> analyst Carlo Santarelli<\/strong> points out, Encore Boston Harbor<\/strong> wasn’t operational two years ago (it debuted on June 23, 2019), so on a same-store basis, casinos were actually down 6%. How come? The Bay State doesn’t have Internet gambling, which is starting to sap<\/a> Pennsylvania<\/strong>. Capacity is unrestrained, although poker rooms aren’t back and we hear that players are hopping mad<\/a> about it. Maybe Massachusetts players just don’t have that pent-up demand we’ve seen just about everywhere else. Encore dominated with $52.5 million, while MGM Springfield<\/strong> actually managed a 1% increase, to $20 million. Plainridge Park<\/strong> was the laggard, falling 16.5% and grossing $11 million. Expect owner Penn National Gaming<\/strong> to renew its mewl for table games at what was always and explicitly meant to be a slots-only facility.<\/p>\n\n\n\n

Drilling further down, Wynn Resorts<\/strong> had 63% market share, MGM 24% and Penn 13%. MGM’s comeback was powered by slots, up 4% whilst tables were 9% down. It was the other way around at Encore, where tables were up 3% ($23 million) and slots dipped 4% ($29.5 million). Wynn’s decision to predicate Encore on upper-market play is coming up aces but what MGM thought it was doing building a high-end property way out in Springfield<\/strong> will be a head-scratcher for future historians of the company. We know the rich folks like to luxuriate in nearby Lenox <\/strong>but still …<\/p>\n\n\n\n\n\n\n\n

No such caveats needed for Louisiana<\/strong>, where casino winnings were a healthy $221.5 billion, an 8.5% boost over 2019. It’s 14.5% high if one excludes in-limbo Diamond Jacks<\/strong> and defunct Isle Grand Palais<\/strong>. Leading all markets was Baton Rouge<\/strong>, where L’Auberge Baton Rouge<\/strong> vaulted 36% to $17 million, while Hollywood Baton Rouge<\/strong> jumped 32% to $6 million. Belle of Baton Rouge<\/strong> seems to have hit rock bottom, down only 9% to $1.5 million. In the Lake Charles<\/strong> area, Delta Downs<\/strong> was flat at $15.5 million. Top honors in the state went to L’Auberge du Lac<\/strong> and its $32.5 million gross, up 25%, while Golden Nugget<\/strong> wasn’t far behind at $31 million and 18% upwards.<\/p>\n\n\n\n

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Harrah’s New Orleans<\/strong> predictably led the Big Easy with $24.5 million (+10%) and Boomtown New Orleans<\/strong> climbed 23% to $12 million, defending its second-place status. Treasure Chest<\/strong> slid 10.5% to $8.5 million, Amelia Belle<\/strong> sank 15% to $3 million and Fair Grounds<\/strong> racino trotted 5.5% faster to $4 million. Outlying Evangeline Downs<\/strong> was a bit off at -1.5% for a $7 million gross. That leaves Shreveport<\/strong>\/Bossier City<\/strong>, where a few casino executives are looking with fear and apprehension at Shreveport’s oncoming smoking ban. Margaritaville<\/strong> continues to put Horseshoe Bossier City<\/strong> in the shade, $20 million to $13.5 million (+41.5% and -4% respectively). Also coming on strong were Eldorado Shreveport<\/strong> ($12 million, +30%), Boomtown Bossier<\/strong> ($5 million, +29%) and Louisiana Downs<\/strong> ($5 million, +19%). The only laggard besides Horseshoe was Sam’s Town<\/strong>, down 14% to $5 million. Think how much worse that could be once smoking gets snuffed.<\/p>\n\n\n\n

Circa Sports<\/strong> is making headlines regarding the WNBA All-Star Game<\/strong> and not in a good way. A blunder by Circa oddsmakers moved the line 53 points. Explains ESPN<\/strong>, “The 53-point movement was the largest shift that multiple veteran bookmakers could ever recall, and it wasn’t caused by any attempt at corruption or by a rush of big wagers. Instead, it was simply a mistake by an oddsmaker who was short on time.” Circa was in a hurry to get the first over\/under on total points scored up on the boards and haste made waste. The sports book director was inspired by high point tallies in previous, meaningless all-star games. What he didn’t take into account was that the WNBA all-stars were facing the U.S. Olympic team. As Las Vegas Aces<\/strong> coach Bill Laimbeer<\/strong> recounted, “Normally everybody is kind of goofing around. That’s not what USA Basketball<\/strong> wants. USAB wants a very competitive game.” (They got it, all right. The All-Stars embarrassed the Olympians.)<\/p>\n\n\n\n

For a while, the Circa line spiraled upwards<\/a>, until other, saner books began to prevail. The Westgate Las Vegas Super Book<\/strong> was taken in initially, then ratcheted its over\/under down 32 times, finally deciding upon 197. Bettors certainly weren’t skeptical. “We have more money on the over than the under,” Super Book Risk Manager Rex Beyers<\/strong> told ESPN. That was good news for those who took the under (the final total: 178 points). To its credit, Circa honored all bets, which just goes to show that Derek Stevens<\/strong> is a george in a world of stiffs.<\/p>\n\n\n\n

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Michael Jordan<\/strong>‘s 80-foot Catch 23<\/em> yacht graced the Atlantic City<\/strong> marina this week. His Airness was in town for the Quest For The Ring fishing tourney and Jordan obliged by hauling a 70-pound white marlin. That was hardly the biggest fish caught (a 290 big-eye tuna took that honor) but a good time was seemingly had by all, even if Jordan appears to have given casinos a wide berth<\/a>, at least until Saturday when everybody repairs to Hard Rock Atlantic City<\/strong> for the award ceremony. Elsewhere on the Boardwalk, Showboat<\/strong> has all the action, including an ‘animal-free’ circus, a vegan food festival and an auto show. On a less-salubrious note, smoke is back, thanks to Gov. Phil Murphy<\/strong>‘s lack of spine. Reports our A.C. bureau, “Already, the smoking is trouble, as I try and avoid the heavy smokers playing the slots.” Sensible advice.<\/p>\n\n\n\n

In a development that Stewie Griffin<\/strong> would call “deliciously absurd,” the state of Missouri<\/strong> has taken riverboat casinos (already just buildings in moats) to a new level of preposterousness. It will allow Century Casinos<\/strong> to move ashore in Caruthersville<\/strong>, provided that the casino sits atop a container of 2,000 gallons of water<\/a>. You can’t make this stuff up. It’s the logical\u2014if ludicrous\u2014endgame to the political triangulation whereby prudes both liberal and conservative alike are persuaded to take that icky-poo casino tax money so long as a condom of H2O surrounds the nefarious gambling. Adds Century, “There is currently no other hotel situated in downtown Caruthersville,” which is like saying you have the tallest building in Mogadishu<\/strong>. By the way, if you’re a fan of Ozark<\/em>, don’t believe anything<\/em> it says about the Missouri casino industry. It may be silly at times but it’s not corrupt.<\/p>\n\n\n\n

In not-such-good news for the hospitality industry, over half of former workers surveyed wouldn’t go back even if you paid them more<\/a>. They just don’t like their old jobs. The work is too taxing and the benefits too few, they tell Joblist<\/strong>. \u201cThe obvious implication is that if firms can\u2019t expand as planned, the outlook for growth will be weaker,\u201d said economist James Knightley<\/strong>. No kidding. Hotels and restaurants are bearing the brunt of the impact, a scenario that even Las Vegas<\/strong> is experiencing.<\/p>\n\n\n\n

Jottings<\/em><\/strong>: Louisiana<\/strong> has issued its first DFS license and it goes to\u2014surprise, surprise\u2014DraftKings<\/strong>. The company celebrated by offering $3 free-play credits … The New Pioneer<\/strong> in Laughlin<\/strong> is on the market again. Owner Ray Koroghli<\/strong> wants $39 million<\/a> for the grind joint. Anybody think he’ll get it? … The Australasian Gaming Expo<\/strong> is down for the count two years running. An upsurge of Covid-19<\/strong> in the Sydney<\/strong> area has led to an extended lockdown, clocking the trade show … The Las Vegas Review-Journal<\/em> continues to beat the drum for an Oakland Athletics<\/strong> relocation with a steady stream of above-the-fold, front-page headlines about anything and everything concerning the A’s. Readers of the paper’s online edition, however, got quite a jolt today from this banner: “Nevada trips discouraged<\/strong>.” Seems the Los Angeles County<\/strong> Health Officer finds the Coronavirus<\/strong> rate in Clark County<\/strong> “concerning.” Already the federal government has labeled Sin City a “sustained hotspot” for the virus. Anti-vaxxers are the root of the problem<\/a> although Gov. Steve Sisolak<\/strong>‘s inaction could make matters worse. And when Nevada<\/strong> tourism catches a cold, convention business goes into a coma.<\/p>\n","protected":false},"excerpt":{"rendered":"

Shazam! Massachusetts casino revenues for June were $84 million, 67% higher than 2019. But wait … as Deutsche Bank analyst Carlo Santarelli points out, Encore Boston Harbor wasn’t operational two years ago (it debuted on June 23, 2019), so on … 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":[23,103,60,244,34,281,176,294,155,227,277,14,97,283,37,49,84,112,245,39,207,69,95,74,243,17,184,233],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/29852"}],"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=29852"}],"version-history":[{"count":2,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/29852\/revisions"}],"predecessor-version":[{"id":29969,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/29852\/revisions\/29969"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=29852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=29852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=29852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}