{"id":30603,"date":"2022-01-17T08:44:20","date_gmt":"2022-01-17T16:44:20","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=30603"},"modified":"2022-01-26T08:08:15","modified_gmt":"2022-01-26T16:08:15","slug":"warm-breeze-in-atlantic-city-indiana-heats-up","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/warm-breeze-in-atlantic-city-indiana-heats-up\/","title":{"rendered":"Warm breeze in Atlantic City; Indiana heats up"},"content":{"rendered":"\n
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December brought an acceleration in most forms of New Jersey<\/strong> gambling revenue. Atlantic City<\/strong> casinos managed a 1.5% increase over the end of 2019 but sports betting revenue dropped 11% year\/year, blamed on low hold. Sticking close to home, Internet gamblers lost 34% more than last year, the brightest spot on the horizon (unless you were a player). Boardwalk grosses were $212 million, i-gaming yielded an impressive $133 million and sports betting engendered $59 million. Slot revenue was flat at $150.5 million on 2% less coin-in while table games captured $59.5 million (+5%) on 10.5% less wagering. Borgata<\/strong> stabilized at -1% or $54 million, too late to save Melonie Johnson<\/strong>‘s presidency. Hard Rock Atlantic City<\/strong> vaulted 37% to $35.5 million while Ocean Resort<\/strong> climbed 27% to $26.5 million.<\/p>\n\n\n\n\n\n\n\n

Bally’s Atlantic City<\/strong> showed signs of a turnaround, up 13% to $11 million, while Caesars Atlantic City<\/strong> gained 5% to reach $19 million. Harrah’s Resort<\/strong> was off 7% to $24 million and Tropicana Atlantic City<\/strong> fell 18% to $19 million. Resorts Atlantic City<\/strong> was down 7% to $11.5 million and Golden Nugget<\/strong> brought up the rear with $10.5 million, a 26% plunge. Our Atlantic City correspondent reports that the Nugget had a “decent” number of patrons last weekend and no wait for the food lounge, unlike Borgata, where service was backed up 35 minutes. We’re not sure that’s a good thing for the Nugget. As for sports betting, handle was $1.2 billion, a 23.5% year\/year increase. FanDuel<\/strong>\/PointsBet<\/strong> dominated online revenue with $27.5 million while FanDuel raked in another $2.5 million in retail wagering at the Meadowlands<\/strong>. I-gaming, which should prove a valuable hedge against New York State<\/strong>‘s incursion into sports betting, was led by Borgata’s $37 million, closely followed by Golden Nugget Online<\/strong> ($36 million) and Resorts Digital<\/strong> ($33 million).<\/p>\n\n\n\n

Belying December’s torrid numbers, Hard Rock was “slow” last Thursday, as seen at the center bar (below<\/em>). In other Boardwalk news, Bart Blatstein<\/strong> broke sand, er, ground on his Showboat<\/strong> water park, supposedly without government funding. Also, the Lege voted to end needle exchanges in order to lure the NAACP<\/strong> convention to the seaside. Reports our correspondent, “Caesars group TV ads suggest they have ‘world class entertainment.’ Guess they mean Third World-class entertainment.”<\/p>\n\n\n\n

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Another state having a bonny December was Indiana<\/strong>, where gambling revenues were up 11% over 2019. Hard Rock Gary<\/strong> was tops for the third straight month, banking $32.5 million against Horseshoe Hammond<\/strong>‘s $30 million (-13%). Ameristar East Chicago <\/strong>was down 2% to $19 million and Blue Chip<\/strong> slipped 14% to $12 million. Racinos did very well, with Indiana Grand<\/strong> up 18% to $28 million and Harrah’s Hoosier Downs<\/strong> rising 20% to $21.5 million. Non-riverboat French Lick Resort<\/strong> stumbled 13.5% to $7 million, though. Bally’s Evansville<\/strong> continues to benefit from its rebrand, up 14% to $14 million, while Caesars Southern Indiana<\/strong> dipped 5% to $21 million. Hollywood Lawrenceburg<\/strong> was up 3% to $15 million, Rising Star<\/strong> rose 18.5% to $4 million and Belterra Resor<\/strong>t was down 10.5% to $8 million.<\/p>\n\n\n\n

Hoosier State sports betting saw only $26 million in revenue (low hold, again) on handle of $463 million. In terms of market share of handle, DraftKings<\/strong> led with 35%, then FanDuel (28.5%), BetMGM<\/strong> (12%) and Caesars Sportsbook<\/strong> (11.5%). Having trouble gaining traction were BetRivers<\/strong>, PointsBet and Barstool Sports<\/strong>, all in the 2.5%-4% stratum.<\/p>\n\n\n\n

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Jottings<\/em><\/strong>: Sports betting in Maryland<\/strong> has generated $16 million in handle in the early going. Maryland Live<\/strong> led with $7 million<\/a>, followed by MGM National Harbor<\/strong>‘s $6 million and Horseshoe Baltimore<\/strong>‘s $2.6 million … Aaron Gomes<\/strong> of the Gomes gaming clan has resurfaced<\/a> as COO of Rose Resort<\/strong>, a Peninsula Pacific<\/strong> casino taking shape in little Dumfries<\/strong>, Virginia<\/strong>. Of the anticipated tax revenues, Mayor Derrick Wood<\/strong> said, \u201cIt\u2019s going to triple our budget.\u201d … Virginia state Sen. Joe Morrissey<\/strong> wants to block Richmond<\/strong> from having a second bite at the casino apple. His motive is that he covets gaming<\/a> for his hometown of Petersburg<\/strong>, one of eight cities that would be eligible under legislation he has proposed … Looking forward to more entertainment and parking at Encore Boston Harbor<\/strong>? Forget about it for now. Wynn Resorts<\/strong> is putting its plans on hold<\/a>, apparently for fear that the expansion would come under the Massachusetts Gaming Commission<\/strong>‘s remit … $6.5 billion looks like the magic number for Blackstone Group<\/strong> to obtain control<\/a> of Crown Resorts<\/strong>. A deal could be struck within weeks and approved by July.<\/p>\n","protected":false},"excerpt":{"rendered":"

December brought an acceleration in most forms of New Jersey gambling revenue. Atlantic City casinos managed a 1.5% increase over the end of 2019 but sports betting revenue dropped 11% year\/year, blamed on low hold. Sticking close to home, Internet … 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":[23,103,293,291,300,60,244,70,219,277,4,278,198,287,165,68,72,112,245,167,248,101,257,301,69,296,33,25,242,243,31,20,215,233],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/30603"}],"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=30603"}],"version-history":[{"count":2,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/30603\/revisions"}],"predecessor-version":[{"id":30607,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/30603\/revisions\/30607"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=30603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=30603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=30603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}