{"id":31365,"date":"2022-07-07T07:06:04","date_gmt":"2022-07-07T15:06:04","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=31365"},"modified":"2022-07-13T06:25:27","modified_gmt":"2022-07-13T14:25:27","slug":"recovery-slowing-but-still-going-singapore-soars","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/recovery-slowing-but-still-going-singapore-soars\/","title":{"rendered":"Recovery slowing but still going; Singapore soars"},"content":{"rendered":"\n
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Although gambling revenues in Maryland<\/strong> decelerated somewhat from May, they were still 1% higher than last June and 14% more robust than 2019’s, for a total haul of $163 million. It was basically a two-horse race, with MGM National Harbor<\/strong> controlling 42% of market share to Maryland Live<\/strong>‘s 34.5%. MGM’s category killer grossed $68 million (up 7.5%) while Cordish Gaming<\/strong>‘s rival powerhouse brought in $56 million (down 4%). Horseshoe Baltimore<\/strong> was a distant third with $17 million but achieved a victory of sorts by being flat with last year. (Any month in which Horseshoe is not sliding downward is a good month.) Best of the rest was Ocean Downs<\/strong> with $8.5 million, despite being 3% off its feed, while Hollywood Perryville<\/strong> brought in $7.5 million, a 4% dip. Hardest hit, relatively speaking, was Rocky Gap Resort<\/strong>, down 7% but good for $5 million.<\/p>\n\n\n\n\n\n\n\n

As sports betting slowed into the summer months, so did Arizona<\/strong> sports book grosses. Books kept $29 million on handle of $513 million. However, the books gave back nearly $13 million in promotions, as they continue to spend a dollar to acquire a dollar. FanDuel<\/strong> was slightly behind DraftKings<\/strong> in handle ($152.5 million to $156 million) but finished first in revenue with $16 million (a 56% market share) while DraftKings ended with an ignominious $1.5 million. BetMGM<\/strong> was second with $8 million, far outpacing Caesars Sportsbook<\/strong>‘s $2 million. DraftKings was one of the three least-promotional operators, along with Churchill Downs<\/strong> and Barstool Sports<\/strong>, so overspending in that department can’t be blamed for its unimpressive result. The operators most inclined to give away the store, by contrast, were FanDuel, Rush Street Interactive<\/strong> and BetMGM. Whether that’s a solid long-term strategy remains to be seen but for the moment it’s working.<\/p>\n\n\n\n

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Jottings<\/em><\/strong>: Despite lowering his price target on Las Vegas Sands<\/strong>, stock analyst Joseph Greff<\/strong> remained upbeat<\/a>, highlighting the considerable and growing strength of Marina Bay Sands<\/strong>. As for Macao<\/strong>, investors are \u201cwashed out (and have been for a while now) and … expectations are for continued soft trends in visitation from China<\/strong> into Macau through the end of the year (to the extent that investors are paying attention and\/or even care about Macau)\u201d … Biloxi<\/strong> outperformed expectations during Fourth of July weekend. But things are far from sunny<\/a> behind the scenes of Gulf Coast tourism boosters … In a symptom of our times, an inebriated customer at The Point<\/strong> casino in Washington State<\/strong> pulled an unlawful handgun<\/a> on a dealer. The assailant was so drunk (blood alcohol .332) that police didn’t bother to throw him in the clink and he wasn’t even charged until the following Tuesday … Tribes in Michigan<\/strong> are putting their money where their mouth is, subsidizing the replacement<\/a> of offensive mascots and logos at four high schools. Out are “Warriors,” “Indians,” “Big Reds” and “Redskins”; in are “Huskies,” “Golden Knights,” “Red Hawks” and ever-popular TBA … Expect June in Las Vegas<\/strong> to be like May<\/a> only more so. Deutsche Bank<\/strong> analyst Carlo Santarelli<\/strong> predicts the Las Vegas Strip<\/strong> will be further up while locals casinos will continue their gentle decline from 2021 levels … Crown Resorts<\/strong>, now under new ownership, has scored a managerial coup<\/a>, plucking Wynn Macau<\/strong> COO Ciar\u00e1n Carruthers<\/strong> away from Wynn Resort<\/strong>s and installing him as CEO. Carruthers will be eased into the job by September, as short-tenured CEO Steve McCann<\/strong> is gradually eased out … Imagination continues to run riot at Caesars Entertainment<\/strong>. As part of the Horseshoe Las Vegas<\/strong> makeover, there will be a new, 80-game video arcade<\/a> called\u2014wait for it\u2014”ARCADE.” Yup, those all-caps will make a world of difference. Out goes the sports book, by the way.<\/p>\n","protected":false},"excerpt":{"rendered":"

Although gambling revenues in Maryland decelerated somewhat from May, they were still 1% higher than last June and 14% more robust than 2019’s, for a total haul of $163 million. It was basically a two-horse race, with MGM National Harbor … 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":[109,291,300,244,275,176,70,219,277,4,278,97,241,189,62,72,245,259,35,69,242,108,243,9,19,20,38,246,233],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/31365"}],"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=31365"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/31365\/revisions"}],"predecessor-version":[{"id":31366,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/31365\/revisions\/31366"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=31365"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=31365"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=31365"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}