Addition in Mississippi; Subtraction in Atlantic City; Gluttony in Las Vegas

By David McKee ~ January 29th, 2015 @ 4:15 pm No Comments »

It was all there in black and white: $935 million in state and federal taxes paid, and $4 billion in economic. That’s what Mississippi casinos achieved, despite two closures.¬†“The Mississippi_Capitol_Buildingnumbers reflect we’re doing OK here in Mississippi,” understated¬†Mississippi Gaming & Hospitality Association Executive Director Larry Gregory. To help legislators make the case for the state’s casino industry against their more-prudish brethren, Gregory had this year’s report done in brochure form, highlighting facts like the staggering statistic that 71% of Mississippi’s 2.6 million visitors included a casino on their itinerary.

Mississippi posted its first casino-revenue increase since Continued >>

Dismay in Wisconsin; Disorder at SLS

By David McKee ~ January 29th, 2015 @ 2:49 pm No Comments »

Wisconsin Gov. Scott Walker (R) has managed to bring Democrats and Republicans together — in opposition to his decision to nix a proposed Menominee Nation casino. Lawmakers kenosha hard rock casinocited the $250 million bond posted by the Menominee and the tribe’s promise to indemnify the state against any action by the Forest Lake Potowatomi as reasons to go forward. “Fear of litigation — or the risk of losing litigation — should not be a factor in your decision,” 10 legislators wrote. Walker replied that, since his decision was on file with the Bureau of Indian Affairs, the point was moot. He also reiterated that the prospect of $100 million in near-term losses to the Potowatomi (and potentially millions more) was too great a risk to run.

Kenosha residents were the picture of dejection, stung by Continued >>

Weak quarter for Las Vegas Sands; Penn weathers a blow

By David McKee ~ January 29th, 2015 @ 11:51 am No Comments »

SheldonThere was definitely some grit in the 4Q14 financial results for Las Vegas Sands‘ Strip properties. Table play was down $102 million, or 16%. And those players who showed up played lucky. Table revenue was down 26%, or $37 million. Coin-in at the slots was healthy, though, up 8%. Looser hold percentages, however, turned the gain into a 2% loss. At $150 million, casino revenue was $38 million down (-20%). Retail, entertainment and F&B almost equaled the gambling haul, grossing $143 million (+2%). And although room rates were up, averaging $222, 81% occupancy and a decline in revenue per available room spelled a 5% decline.

Overseas, Marina Bay Sands came in above Continued >>

Super Bawl

By David McKee ~ January 28th, 2015 @ 12:07 pm No Comments »

Never mind that it’s one of the biggest weekends in Sin City, the National Football League continues to stick its fingers in its ears¬†when it comes to casinos that dare whisper the words football“Super Bowl.” Not only must Las Vegas hide behind the “Big Game” euphemism when promoting Super Bowl-related events, if they show aforesaid large-scale game on TV screens that exceed 55 inches, the NFL is prepared to make trouble.

While the league might more sensibly opt for a piece of the action, which included a $119 million wagering pool last year, it prefers to pretend Las Vegas doesn’t exist. It’s missing out on a big slice of pie. According to the American Gaming Association, $3.8 billion will be bet illegally on the Super Bowl, dwarfing legal wagers into insignificance. You’d think the NFL would want Continued >>

Further Reading

Addition in Mississippi; Subtraction in Atlantic City; Gluttony in Las Vegas

Dismay in Wisconsin; Disorder at SLS

Weak quarter for Las Vegas Sands; Penn weathers a blow

Super Bawl

Case Bets: IGT, Hard Rock, Golden Gaming

Caesars wins big

Caesars on the defensive

Hard Rock back to A.C.?; Today Massachusetts, tomorrow Vermont?

Golden, Scientific on the move

Where will the Caesars fight be fought?

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