Great month for the Strip, for Louisiana not so much

By David McKee ~ July 25th, 2014 @ 9:35 am No Comments »

Dice-in-crapsBuoyed by heavy baccarat play, the Las Vegas Strip registered a 22.5% gain in June. The house played very lucky, too, with win up a staggering 155%. At the other end of the gaming spectrum, those slots must have been pretty tight, as casinos won 9% more on 13% less coin-in (with a day of May weekend revenue thrown in). Baccarat carried the rest of the table games, which were 2% down despite 6% higher drop. Strip gaming revenues are up over 3% for the year so far. June’s numbers shot past Deutsche Bank analyst Carlo Santarelli‘s projections for the Strip, which were ‘only’ a 10% gain.

It was mostly good news elsewhere. Downtown Las Vegas was up 12% and North Las Vegas 23%. The Boulder Strip gained Continued >>

Quote of the Day

By David McKee ~ July 24th, 2014 @ 3:14 pm 1 Comment »

Penny pinchers; Tribal warfare in New Mexico; Who’s tops in Macao?

By David McKee ~ July 24th, 2014 @ 12:52 pm 1 Comment »

slot machineAlthough the hold on penny slots in Illinois casinos is grotesquely higher than that for quarter slots/video poker, the imaginary value of penny machines makes them by far the most popular genre in the state. Punters dropped $41 million into penny slots, compared to $14 million into far looser quarter machines. Most “george” of the casinos surveyed was Penn National Gaming‘s Hollywood Joliet, which returned 95% on quarter slots/VP versus only 87% on penny machines. The penny hold was incrementally the highest at Rivers Casino (13%+), while the quarter machines aboard Grand Victoria were the least generous.

* “The terms requested by the Pueblo of Pojoaque are characteristic of its reckless and unreasonable approach to negotiations. These terms raise serious questions about Continued >>

Has tribal gaming peaked?

By David McKee ~ July 24th, 2014 @ 11:28 am No Comments »

WashburnThat’s the import of remarks by Assistant Secretary for Indian Affairs Kevin Washburn, testifying before a Senate committee. Not only have revenues plateaued in the $26 billion-$28 billion range, they’ve essentially been the same since 2007. Meanwhile, private-sector gambling is outstripping tribal revenue growth, hitting $38 million last year.

“No great economic resource lasts forever,” summarized Washburn, head of the Bureau of Indian Affairs and a member of the Chickasaw Tribe of Oklahoma — which has more than a few gaming irons in the fire. He admitted to a certain bias: “Commercial gaming goes to enrich Continued >>

Further Reading

Great month for the Strip, for Louisiana not so much

Quote of the Day

Penny pinchers; Tribal warfare in New Mexico; Who’s tops in Macao?

Has tribal gaming peaked?

Glimmers of hope on the Boardwalk

Adelson goes soft on Communism; Wynn befriends oysters

Megaflop at the Trop

Gaming industry gets mixed notices

Forced to gamble?; SugarHouse goes big

Power play in Vegas; Positive talk in Pennsylvania

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