{"id":31296,"date":"2022-06-17T09:00:43","date_gmt":"2022-06-17T17:00:43","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=31296"},"modified":"2022-06-27T07:22:58","modified_gmt":"2022-06-27T15:22:58","slug":"atlantic-city-booms-on-eve-of-strike-louisiana-not-so-lucky","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/atlantic-city-booms-on-eve-of-strike-louisiana-not-so-lucky\/","title":{"rendered":"Atlantic City booms on eve of strike; Louisiana not so lucky"},"content":{"rendered":"\n
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Staring down a seemingly inevitable strike on July 1 by Unite-Here<\/strong>, casinos in Atlantic City<\/strong> could at least take solace in a May that saw gaming revenues leapfrog 9% over last year. The total gross was $233 million, as slot revenues ($174 million) jumped 10.5% on 13% higher coin-in. Table revenue climbed 6.5% on 5.5% larger wagering. Zooming 30% ahead, Borgata<\/strong> banked $63.5 million to Hard Rock Atlantic City<\/strong>‘s $41.5 million (+19%). Hard Rock, incidentally, has been given a two-day reprieve from labor unrest. Ocean Casino Resort<\/strong>\u2014pictured\u2014was third with $25.5 million, gaining only 3% traction. Over at the Caesars Entertainment<\/strong> triumvirate, only Tropicana Atlantic City<\/strong> ($22 million) was revenue-positive, up 8.5%. Harrah’s Resort<\/strong> ceded 1.5% to $21 million and Caesars Atlantic City<\/strong> was down 9.5% to $20 million.<\/p>\n\n\n\n

Ongoing improvements at Bally’s Atlantic City<\/strong> helped eke out a 2.5% increase to $13 million, while Resorts Atlantic City<\/strong> slipped 8% to $14 million. Golden Nugget<\/strong> was microscopically ahead of Bally’s at $13 million, a gain of 3%. I-gaming was a boon, good for $136 million, led by Borgata’s 31% market share and Golden Nugget’s 25.5%. Then came Resorts Digital<\/strong>‘s 22%, then way down to Caesars’ 7%, Tropicana’s 6%, Hard Rock’s 4%, Bally’s 2.5% and Ocean’s 1.5%. Internet gambling is great if you’re MGM Resorts International<\/strong>, lagniappe if you’re Bally’s Corp<\/strong>. As for sports betting, it engendered $61.5 million in revenue on $766.5 million in handle.<\/p>\n\n\n\n\n\n\n\n

Across the river in Pennsylvania<\/strong>, casino revenue hopped 8.5% over last year, for a haul of $294 million. Hollywood Penn National<\/strong> continues its hot streak, flat at $63 million, followed by Parx Casino<\/strong>‘s $57.5 million (-7%, that smoking ban is hurting a bit) and Valley Forge Casino Resort<\/strong>‘s awe-inspiring $53 million (+25%). Although down 1.5%, Rivers Philadelphia<\/strong> hung tough with $47.5 million, contrasted with Philadelphia Live<\/strong>‘s $23 million (+13.5%, so there’s hope yet) and Harrah’s Philadelphia’<\/strong>s $18.5 million (-1%). Across the state, Rivers Pittsburgh<\/strong> banked $31.5 million, up 7%, contrasted with newly relicensed Hollywood Meadows<\/strong>‘ $23.5 million (+14.5%) and Pittsburgh Live<\/strong>‘s $9.5 million (+12%). <\/p>\n\n\n\n

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Champ of the rural casinos was Wind Creek Bethlehem<\/strong> with $49 million, vaulting 31.5%, while Mohegan Sun Pocono Downs<\/strong> was up 2% to $21 million. Despite a 15.5% falloff, Mount Airy<\/strong> did almost as well with $20.5 million. Presque Isle Downs<\/strong> was flat at $11 million, Hollywood York<\/strong> (above<\/em>) grossed $7 million, Hollywood Morgantown<\/strong> rocketed 2,000% to $5.5 million and then there was Lady Luck Nemacolin<\/strong>, up 4% to $2 million. Sports betting brought in another $47 million, minus $12 million in promotional giveaways, on handle of $493.5 million. Most of the grosses were too puny to report but FanDuel<\/strong> made $25 million, DraftKings<\/strong> $8 million and BetMGM<\/strong> $4.5 million. If anybody else cracks the top three it will be on the order of a miracle.<\/p>\n\n\n\n

Brick-and-mortar casino gambling slipped a bit in Michigan<\/strong> (from whence we write this), down 1.5% to $106 million. Deutsche Bank<\/strong>‘s Carlo Santarelli<\/strong> did not break out numbers but it is safe to assume that MGM Grand Detroit<\/strong> came in first and Hollywood Detroit<\/strong> last. As for sports betting, it brought home $36 million, of which $11 million went right back out in the form of promotions. I-gaming far outpaced it at $127.5 million. With regard to sports wagering, FanDuel ran away from the pack with $15 million, pursued by BetMGM’s $9 million, DraftKings’ $5 million, Barstool Sports<\/strong>‘ $2 million and Hollywood’s $1.5 million. 12 other competitors\u2014including Caesars Sportsbook<\/strong>\u2014failed to crack the $1 million mark and should probably pack it in.<\/p>\n\n\n\n

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Louisiana<\/strong> is America’s hard-luck state for casino gambling, down 9% last month to $207 million on 10% lower visitation. At least sports betting is beginning to look respectable, with $142.5 million of handle boiling down to $22.5 million of revenue. Boyd Gaming<\/strong> actually outperformed Caesars statewide, $37 million to $36.5 million, despite Caesars having trophy properties in two of the four markets. Speaking of Caesars, Belle of Baton Rouge<\/strong> has finally been delivered from CEO Tom Reeg<\/strong>‘s malign neglect, although it grossed a mere $1 million, down 19%. CQ Holdings<\/strong>, the new owner, has its work cut out for it. Hollywood Baton Rouge<\/strong> slipped 6.5% to $5.5 million whilst L’Auberge Baton Rouge<\/strong> fell 14% to $15.5 million. Caesars continues to be non-competitive in Lake Charles<\/strong>, where the nip-and-tuck battle for supremacy went to L’Auberge du Lac<\/strong> (above<\/em>), up 12% to $30.5 million. Arch rival Golden Nugget<\/strong> was flat with $29 million. Delta Downs<\/strong> rounded out the picture with $15 million, 8% off the pace.<\/p>\n\n\n\n

In New Orleans<\/strong>, it was a rough month for Harrah’s New Orleans<\/strong>, down 22.5% to $21 million. Its nearest rival was Boomtown New Orleans<\/strong>, off 6% to $12 million, while Treasure Chest<\/strong> bagged $8.5 million (-6%) and Fair Grounds<\/strong> racino did $4 million, down 3.5%. Upriver in Shreveport<\/strong>\/Bossier City<\/strong> it hardly need be said by this point that Margaritaville<\/strong> owned the market with $18.5 million, only 2% off. Horseshoe Bossier City<\/strong> put up a game fight, with $15.5 million despite an 11.5% decline. Boomtown Bossier <\/strong>held its own, flat at $5 million, but no one else was remotely so fortunate. Carnage included -45% at Sam’s Town<\/strong> ($3.5 million), -32% at Bally’s Shreveport<\/strong> ($8.5 million) and -15.5% at Louisiana Downs<\/strong> ($4 million). Boyd’s two rural properties, Amelia Belle<\/strong> and Evangeline Downs<\/strong>, did $3 million and $6 million, down 13.5% and 19.5% respectively.<\/p>\n\n\n\n

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Jottings<\/em><\/strong>: Downtown<\/strong> Vegas’ Plaza Hotel<\/strong> has announced a major revamp of its fa\u00e7ade, including the first non-smoking gambling area in Downtown, a new carousel restaurant and a roof garden for Oscar’s<\/strong> steakhouse. Rarely seen arms manufacturer (and Plaza owner) Poju Zobludowicz<\/strong> got a shot-out<\/a> for backing CEO Jonathan Jossel<\/strong>‘s play … Speaking of shout-outs, Bally’s Atlantic City<\/strong> gets one for its recent makeover<\/a>. Having seen photos of the re-do, we’d say the jury is still out … California<\/strong>‘s Tejon Tribe<\/strong> is joining the casino fraternity. Gov. Gavin Newsom<\/strong> (D) has signed off on a compact<\/a> for the Tejon, one which will put a $600 million casino project in motion for the Bakersfield<\/strong> area. Hard Rock International<\/strong> is the developer … <\/p>\n\n\n\n

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No such luck for the Little River Band of Ottawa Indians<\/strong>, nixed after 14 years of trying for off-reservation gaming. Michigan<\/strong> Gov. Gretchen Whitmer<\/strong> (D, pictured<\/em>) turned the Ottawa down because of a recognition bid by a rival Ottawa band<\/a> although she left the door slightly ajar for reconsideration of the issue … A new broom, in the form of Blackstone Group<\/strong>, has formally arrived at Crown Resorts<\/strong>. An Australian court approved the private equity firm<\/a>‘s $6.3 billion takeover bid … Sports betting firms don’t seem to be too quick on the uptick. Hurting financially and facing political backlash, they spent $282 million in advertising over the last nine months. Network TV is the best vehicle<\/a> for gaining “impressions” (60%) while streaming services are basically a waste. FanDuel <\/strong>was the sugar daddy, buying 34% of all ads, segued by Caesars Sportsbook<\/strong> (22%), DraftKings<\/strong> (18.5%), BetMGM<\/strong> (13.5%) and FoxBet<\/strong> (7.5%). Based on market share, MGM is getting the biggest bang for its buck, Fox the least … If Louisiana<\/strong> sports betting is improving, it may have fugitive punters<\/a> from Texas<\/strong> to thank. According to GeoComply<\/strong>, “from April 27 to May 25, there were around 225,000 mobile sportsbook check-ins from the Lake Charles<\/strong> area, and about twice as many from Shreveport-Bossier City<\/strong>.” Fortunately, Gov. Greg Abbott<\/strong> (R) has finally seen the light and come out in favor of sports wagering in the Lone Star State.<\/p>\n\n\n\n

Quote of the Day<\/strong>: “Only those who will risk going too far will find out how far one can possibly go.”\u2014poet and playwright T.S. Eliot<\/strong><\/em>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Staring down a seemingly inevitable strike on July 1 by Unite-Here, casinos in Atlantic City could at least take solace in a May that saw gaming revenues leapfrog 9% over last year. The total gross was $233 million, as slot … 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":[65,23,103,293,291,300,60,244,34,176,70,294,219,18,51,277,278,297,287,172,165,37,84,53,245,259,167,257,69,95,242,243,47,114,19,20,17,196],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/31296"}],"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=31296"}],"version-history":[{"count":2,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/31296\/revisions"}],"predecessor-version":[{"id":31298,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/31296\/revisions\/31298"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=31296"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=31296"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=31296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}