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Category Archives: Derek Stevens
Bears and bulls at MGM; Uwazurike spells “idiot”
J.P. Morgan analyst Joseph Greff was pretty blunt about MGM Resorts International‘s mixed bag of 2Q23 numbers. “Carried by Macau,” he headlined his report, adding that the Las Vegas Strip was in line with expectations but regional casinos came up … Continue reading
Posted in Atlantic City, BetMGM, China, Colorado, Conventions, Derek Stevens, Detroit, Economy, Entertainment, FanDuel, Health, Internet gambling, Iowa, Las Vegas Raiders, Law enforcement, Macau, MGM Resorts International, Mississippi, Movies, Sports, Sports betting, The Strip, Wall Street
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Las Vegas: Strip up, locals down; God comes to Vegas
Gambling revenue from Nevada locals players dipped 2% last month. Now, before anyone shrieks “Recession!” or looks for the sky to fall, be it noted that we’re still streets ahead of 2019, which was the go-go ‘new normal.’ If, as … Continue reading
Sands impresses; Trump’s new Mob pal; Boardwalk blotter; Mega-Jottings
Wall Street was in a sunny mood this week after Las Vegas Sands‘ 4Q22 earnings presentation. As Credit Suisse analyst Ben Chaiken summarized, “two large takeaways in our view were strength in Singapore and what we felt was a positive … Continue reading
Posted in Animals, Atlantic City, Bally, Baseball, BetMGM, Caesars Entertainment, Charity, China, Colorado, Cretins, Derek Stevens, Dining, Donald Trump, Entertainment, FanDuel, Florida, history, IGT, Indiana, Iowa, Japan, Las Vegas Sands, Macau, Marijuana, Marketing, Massachusetts, Movies, New Jersey, New York, Pennsylvania, Politics, Singapore, South Korea, Sports, Sports betting, Taxes, Technology, Texas, The Mob, The Strip, Tilman Fertitta, Tourism, Transportation, Tribal, TV, Vici Properties, Wall Street
4 Comments
NFL bettors sacked; Strip resort folds; Caesars plan panned
Life at S&G HQ is seriously clouded by the critical illness of a beloved fur baby. Nevertheless, we shall endeavor to gather our thoughts, starting with the consequences for bettors of the life-threatening Damar Hamlin injury on Monday Night Football. … Continue reading
Posted in Arizona, Atlantic City, Caesars Entertainment, Chicago, Derek Stevens, DraftKings, Economy, Entertainment, Failsinos, FanDuel, Florida, Genting, Georgia, Hard Rock International, Horseracing, International, Las Vegas Sands, LVCVA, Macau, MGM Resorts International, Nebraska, New Jersey, New York, Ohio, PointsBet, Politics, Racinos, Riviera, Rush Street Gaming, Sports, Sports betting, The Strip, Tribal, TV, Wall Street, Wynn Resorts
1 Comment
Horseshoe boosts St. Louis; U.K. gaming reform slowed
Gambling continues to prosper in Missouri, where August receipts ($161 million) were 5.5% above last year’s. Visitation was actually down 5% but per-player spending rose 11%, inflation be damned. Ameristar St. Charles was out front with $26.5 million, leaping 9%. … Continue reading
Peace in Atlantic City; Storm over Vegas
Along with Resorts Atlantic City, the Golden Nugget (seen above in its Trump Marina days) has inked a new labor pact with Unite-Here, bringing to an end any uncertainty about a strike on the Boardwalk. Workers get substantial pay increases, … Continue reading
Posted in Animals, Atlantic City, Bally, Caesars Entertainment, Canada, Churchill Downs, Cretins, Current, Derek Stevens, Dining, Downtown, Entertainment, Environment, Gary Goett, Genting, Golden Nugget, Hard Rock International, Horseracing, Internet gambling, Kentucky, Las Vegas Sands, Macau, MGM Resorts International, Mohegan Sun, Singapore, The Strip, Unite-Here, Wall Street
1 Comment
Strip perceives no inflation woe; Union sells out workers health
Truist Securities analyst Barry Jonas recently took a tour of Las Vegas‘ C-suites, meeting with executives of seven companies. He concluded that “Despite market sentiment, operators remain generally positive.” Both the Las Vegas Strip and the recently declining locals market … Continue reading
Posted in Atlantic City, Bally, Chicago, Conventions, Derek Stevens, Economy, G2E, Golden Nugget, Health, Internet gambling, Law enforcement, Missouri, Mohegan Sun, New Jersey, Regulation, Rhode Island, Slot routes, Sports betting, The Strip, Tourism, Unite-Here, United Kingdom, Wall Street
1 Comment
Massachusetts upbeat; Station defiant; Atlantic City stalemate
Casinos in the Bay State clocked $91 million in revenue last month, a 5% improvement on last year. Encore Boston Harbor led the tiny pack with $58 million, growing 9.5%. Next up was MGM Springfield, performing surprisingly well. It was … Continue reading
Posted in Atlantic City, Bally, BetMGM, Caesars Entertainment, California, Churchill Downs, Derek Stevens, Economy, Election, Galaxy Entertainment, Golden Nugget, Hard Rock International, Health, Illinois, Indiana, Iowa, Las Vegas Sands, Macau, MGM Resorts International, Missouri, Mohegan Sun, North Carolina, Ocean Resort, Peninsula Pacific, Penn National, Politics, Regulation, Slot routes, Sports betting, Station Casinos, Tourism, Transportation, Tribal, Unite-Here, Wynn Resorts
1 Comment
Chicago blew it; Times Square, anyone? Monday Mega-Jottings
Even as Chicago Mayor Lori Lightfoot (D) blunders forward with her megaresort campaign, more voices are being raised in criticism of how the Second City is going about the process. A Crain’s Business analysis determined that “Each location appears to … Continue reading
Posted in Architecture, Aristocrat, Atlantic City, Australia, Bally, Baseball, BetMGM, Caesars Entertainment, Chicago, China, Crown Resorts, Derek Stevens, Election, Entertainment, Environment, FanDuel, Galaxy Entertainment, GLPI, Hard Rock International, Health, Illinois, International, Kansas, Las Vegas Sands, Law enforcement, Macau, Marketing, Massachusetts, MGM Resorts International, New York, North Carolina, Pennsylvania, Planet Hollywood, Politics, Real Estate, Regulation, Resorts World LV, Rush Street Gaming, Sports betting, The Strip, Tribal, United Kingdom, Virginia
1 Comment
Atlantic City continues to rebound; Chicago casinos lose momentum; Mega-Jottings
Atlantic City casinos leapt 17% from March 2021, grossing $216.5 million. Except for Tropicana Atlantic City, which was flat at $19 million, almost everyone posted relatively impressive gains. Borgata‘s $55 million (+18%) predictably topped the market, while Hard Rock Atlantic … Continue reading
Posted in AGA, Atlantic City, Bally, Caesars Entertainment, California, Card rooms, Charity, Chicago, Derek Stevens, Gary Goett, Golden Nugget, Hard Rock International, Indiana, International, Internet gambling, Law enforcement, Macau, MGM Resorts International, Mississippi, Mohegan Sun, Money laundering, Neil Bluhm, Ocean Resort, Phil Ruffin, Politics, Problem gambling, Reno, Rush Street Gaming, Spectacle Entertainment, Sports betting, Technology, West Virginia
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Casinos in clover nationwide; Mega-Jottings for a Monday
Masters Week has come and gone, and Augusta now sinks back into an 11-month torpor. Which also helps us return to standard-edition S&G. (Seen on the marquee of the church closest to Augusta National: “This is Amen Corner.”) Where to … Continue reading
Posted in Bally, BetMGM, Boyd Gaming, Caesars Entertainment, Canada, Century Casinos, Chicago, Churchill Downs, Conventions, CQ Holdings, Current, Derek Stevens, Diversity, DraftKings, Economy, FanDuel, Full House Resorts, G2E, Georgia, Hard Rock International, Illinois, Indiana, International, Jack Entertainment, Las Vegas Sands, Macau, Marketing, MGM Resorts International, Missouri, Nevada, New York, North Las Vegas, Ohio, Palms, Penn National, Pennsylvania, Politics, Racinos, Sahara, Singapore, Sports, Sports betting, Taxes, Tribal
1 Comment
Barley’s leaves a bad taste; Woe is Star; Mega-Jottings
When a casino is named Barley’s Brewing Co. you’d expect to get a decent glass of suds there. Not so. Las Vegan Lon Enwright is $8 million richer—but physically damaged beyond price—after being served cleaning fluids instead of beer (the … Continue reading
Posted in Australia, Baseball, Boulder Strip, Charity, China, Conventions, Crown Resorts, Derek Stevens, history, Japan, Kentucky, Massachusetts, MGM Resorts International, Missouri, Money laundering, Movies, New Jersey, Politics, Regulation, Resorts World LV, Singapore, Sports, Sports betting, Star Entertainment, Station Casinos, Tourism, Transportation, Tribal, Wall Street, Wisconsin
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Business comeback fuels Strip; Massachusetts fumbles sports betting
Las Vegas Strip room rates continue to demonstrate sustained strength through October and, get this, midweek traffic is driving the bus. Overall, weekday prices are up 22% versus 17% on weekends. MGM Resorts International is the pace car, +24% midweek … Continue reading
Posted in Caesars Entertainment, California, Card rooms, Connecticut, Derek Stevens, Economy, Fontainebleau, Health, IGT, International, Japan, Las Vegas Raiders, Las Vegas Sands, Macau, Massachusetts, MGM Resorts International, Mohegan Sun, Politics, Resorts World LV, Singapore, Sports, Sports betting, Taxes, The Strip, Tribal, Wall Street, Wynn Resorts
1 Comment
Competitive vitality in Pennsylvania; The politics of casinos
Pennsylvania was late to the casino-recovery party but it’s finally arrived, up 1% in July over 2019 for a gross of $310 million, of which $223 million was won at the slots. The good news may be short-lived, in that … Continue reading
Posted in Alex Meruelo, Atlantic City, BetMGM, Boyd Gaming, Caesars Entertainment, California, Card rooms, Centaur Gaming, Churchill Downs, Cordish Co., Derek Stevens, DraftKings, Economy, Entertainment, FanDuel, FoxBet, Greenwood Racing, Health, Indiana, Internet gambling, Japan, Law enforcement, Marketing, Michael Gaughan, Mohegan Sun, Nevada, Oklahoma, Oregon, Penn National, Pennsylvania, PointsBet, Politics, Regulation, Rush Street Gaming, South Korea, Spectacle Entertainment, Sports betting, Station Casinos, Tamares Group, Taxes, Texas, Tribal, TV, Wall Street, West Virginia, Wynn Resorts
1 Comment
Masks back on, Las Vegas!; All’s right with the REITs
Mincing few words, MGM Resorts International CEO Bill Hornbuckle sent a letter to all employees, urging them to quit dithering and get their Covid-19 vaccinations, if they haven’t already. He pleaded, “In addition to the heart-wrenching thought of more illness … Continue reading
Posted in Bally, BetMGM, Boulder Strip, Boyd Gaming, Caesars Entertainment, Charity, Churchill Downs, Conventions, Delaware, Derek Stevens, Dining, Economy, GLPI, Health, history, Indiana, Kentucky, Lake Tahoe, Las Vegas Sands, Laughlin, Maryland, MGM Resorts International, Mississippi, Nevada, North Las Vegas, Penn National, Real Estate, Resorts World LV, Singapore, Sports betting, The Strip, Tribal, Wall Street
3 Comments