{"id":40,"date":"2009-07-14T13:46:00","date_gmt":"2009-07-14T17:46:00","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/blogs\/dmckee\/index.cfm\/2009\/7\/14\/More-Midwest-notes"},"modified":"2009-07-14T13:46:00","modified_gmt":"2009-07-14T17:46:00","slug":"more-midwest-notes","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/more-midwest-notes\/","title":{"rendered":"More Midwest notes"},"content":{"rendered":"

Continuing a trend of lower-than-projected returns across the Midwest, Iowa<\/strong>'s riverboats were flat last month and racinos saw a 5% decline. All major operators lost ground but something is very wrong at Ameristar Casinos<\/strong>, whose Council Bluffs boat was way outside the margin, reporting a 15% decline from last year.<\/p>\n

\"\"<\/p>\n

Over in Detroit<\/strong>, in the hardest-hit state in America, general economic collapse is finally eating into the casino bidness. With MGM Grand Detroit<\/strong> off 10% and Motor City<\/strong> down 3%, it took a 24% upward leap in revenues at recently expanded Greektown Casino<\/strong> (above<\/em>) to keep the market on an even keel. With an 0.4% overall decline in dollars won, Detroit stays within the "flat" classification.<\/p>\n

Good time to own IGT.<\/strong> Sitting upon Illinois<\/strong> Gov. Pat Quinn<\/strong>'s desk is a bill that could swamp the state with as many as 77,000 video slot machines. As J.P. Morgan<\/strong> breaks down the particulars: "video gaming terminals may be placed in 1)<\/strong> licensed establishments (“any licensed retail establishment where alcoholic liquor is drawn, poured, mixed, or otherwise served for consumption on the premises”), 2) <\/strong>licensed truck stop establishments (“facility that is at least a 3-acre facility with a convenience store and with separate diesel islands and parking spaces for commercial motor vehicles”)<\/em>, 3)<\/strong> licensed fraternal establishments (“location where a qualified fraternal organization regularly meets”), and 4)<\/strong> licensed veterans establishments (“location where a qualified veterans organization regularly meets”).<\/em>"<\/p>\n

Morgan analysts take<\/strong> a less-alarmist position on this change, projecting that no more than 40,000 devices will be installed, over a two-year period starting next year. Still, they like the prospects of International Game Technology<\/strong>, which is predicted to snare 60% of the market, with another 30% equally divided between WMS Industries<\/strong> and Bally Technologies<\/strong> — a bit of a snub to favorite son WMS, no?<\/p>\n","protected":false},"excerpt":{"rendered":"

Continuing a trend of lower-than-projected returns across the Midwest, Iowa's riverboats were flat last month and racinos saw a 5% decline. All major operators lost ground but something is very wrong at Ameristar Casinos, whose Council Bluffs boat was way … 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":[40,77,44,14,29,58,86,11,89],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/40"}],"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=40"}],"version-history":[{"count":0,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/40\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=40"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=40"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=40"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}