Category Archives: MTR Gaming

The big enchilada

Posted on August 13, 2020 by David McKee

“The Biggest Gaming Opportunity Since Riverboats in the Early ’90s.” That’s how JP Morgan gaming analyst Joseph Greff, a man not given to hype, characterized i-gaming and sports betting today. He described them as “as an emerging and exciting area … Continue reading →

Posted in Caesars Entertainment, California, Colorado, Cosmopolitan, DraftKings, FanDuel, Golden Nugget, Illinois, Indiana, Internet gambling, Iowa, Isle of Capri, Las Vegas Sands, MGM Resorts International, Michigan, MTR Gaming, Palms, Penn National, Regulation, Rush Street Gaming, Silverton, Sports betting, The Strip, Tropicana Entertainment, Wall Street, William Hill | 2 Comments

MGM, Eldorado, Churchill Downs looking up

Posted on February 28, 2019 by David McKee

Credit Suisse‘s Cameron McKnight flew out to San Francisco to meet with MGM Resorts International CEO Jim Murren. The biggest headline item would be the eccentricity of Murren choosing to meet in Frisco rather than at MGM HQ in Las … Continue reading →

Posted in Architecture, Atlantic City, Caesars Entertainment, Churchill Downs, DFS, Eldorado Resorts, history, Horseracing, Illinois, Internet gambling, Louisiana, Marketing, Maryland, Massachusetts, MGM Resorts International, MTR Gaming, Neil Bluhm, Ocean Resort, Resort fees, Rush Street Gaming, The Strip, Wall Street | 1 Comment

Trump: How to make out like a bandit; Big plans for Station

Posted on June 13, 2016 by David McKee

To give the devil his due, if you visit Trump Taj Mahal and are dismayed because “carpets are frayed and dust-coated chandeliers dangle above the few customers there to play the penny slot machines,” you are not entirely witnessing the … Continue reading →

Posted in Atlantic City, Boyd Gaming, Donald Trump, Harrah's, IGT, MTR Gaming, Palms, Regulation, Riviera, Station Casinos, Technology, The Strip, Tilman Fertitta, Transportation, Trump Entertainment Resorts, Wall Street | 1 Comment

End of an Atlantic City era; Has Macao bottomed out?

Posted on March 1, 2016 by David McKee

Last weekend saw Trump Taj Mahal pass into the hands of Carl Icahn, becoming a wholly owned subsidiary of Tropicana Entertainment. That is cause for optimism at the Taj, which has gone from being one of Atlantic City‘s three top … Continue reading →

Posted in Atlantic City, Carl Icahn, Donald Trump, Economy, Harrah's, Macau, Melco Crown Entertainment, MTR Gaming, Technology, Tropicana Entertainment, Trump Entertainment Resorts, Unite-Here, Wall Street | Comments Off

Illinois disappoints, Ohio surprises and Golden Nugget opens early

Posted on December 8, 2014 by David McKee

Except for a mild, 2% increase at Harrah’s Joliet, it was a very schizoid November for Illinois, whose casinos came in 4% below last year. There was one less weekend day, which some will cite as an alibi … but then … Continue reading →

Posted in Boyd Gaming, Genting, GLPI, Hard Rock International, Harrah's, Illinois, Louisiana, MGM Mirage, MTR Gaming, Neil Bluhm, New York, Ohio, Penn National, Pinnacle Entertainment, Racinos, Tilman Fertitta | 1 Comment

Ohio’s big haul; NY Times’ whack job

Posted on November 10, 2014 by David McKee

Ohio has matured rapidly as a casino market, bigger than Illinois, almost as large as Missouri but still a long way from Indiana‘s monthly grosses. Still, a 38% increase in casino revenue from last year is nothing at which to … Continue reading →

Posted in Hard Rock International, Harrah's, IGT, Mohegan Sun, MTR Gaming, New York, Ohio, Penn National, Pennsylvania, Racinos, Sheldon Adelson | Comments Off

Ohio: Success and saturation; The many excuses of Glenn Straub

Posted on October 7, 2014 by David McKee

Now that all four casinos and seven racinos are open, Ohio posted a spectacular year/year increase of 36% in gambling revenue. However, success came at a price, in terms of an 8% decline in same-store revenue, indicative of a saturated … Continue reading →

Posted in Atlantic City, Glenn Straub, Hard Rock International, Harrah's, MTR Gaming, Ohio, Penn National, Racinos, Revel, Wall Street | Comments Off

Foxwoods: Woody exits; Eldorado’s big gains

Posted on September 18, 2014 by David McKee

Foxwoods Resorts Casino‘s financial problems could hardly be called “solved,” but CEO Scott “Woody” Butera plans to leave next month anyway for a non-gaming job. He will continue to advise Foxwoods from his new perch, though, even dickering with the … Continue reading →

Posted in Boyd Gaming, Churchill Downs, Foxwoods, Harrah's, Isle of Capri, Louisiana, Massachusetts, MTR Gaming, Ohio, Penn National, Pinnacle Entertainment, Racinos, Reno, Tropicana Entertainment, West Virginia | 1 Comment

Can’t stop the consolidation

Posted on September 9, 2014 by David McKee

Continuing the shrinkage of the manufacturing sector, Global Cash Access is taking another chess piece — Multimedia Games — off the board. GCA will pay $1.1 billion for Multimedia, which specializes in VLTs for racinos and tribal markets.The price represented … Continue reading →

Posted in Arizona, Foxwoods, Hard Rock International, Harrah's, MTR Gaming, Ohio, Penn National, Pinnacle Entertainment, Racinos, Regulation, Technology, Tribal | Comments Off

Mississippi bogged down; How much for Revel?

Posted on June 24, 2014 by David McKee

Still further evidence of gaming saturation comes from the Bayou State, where revenues have declined in 21 of the last 23 months — an Atlantic City-like declivity. Last month, the last full month of operations for Harrah’s Tunica, statewide revenues … Continue reading →

Posted in Atlantic City, Economy, Hard Rock International, Maryland, MTR Gaming, Ohio, Penn National, Racinos, Regulation, Revel, West Virginia | Comments Off

Indiana struggles, Ohio flourishes

Posted on June 10, 2014 by David McKee

Customers visited 8% in Indiana and spent 4% less. There were some salutary results. Pinnacle Entertainment‘s Ameristar East Chicago was up 2% and Boyd Gaming‘s Blue Chip saw revenues rise 3%. It was a big month for the racinos, with … Continue reading →

Posted in Ameristar, Boyd Gaming, Dining, Harrah's, Macau, Maryland, MTR Gaming, Ohio, Penn National, Pinnacle Entertainment, Racinos, Regulation, Scientific Games, Shuffle Master, Tropicana Entertainment, Wall Street | Comments Off

Ohio: Half-full or half-empty?; MGM lauded

Posted on December 10, 2013 by David McKee

Whether Ohio‘s casinos are succeeding or disappointing depends on how the question is framed. Are they delivering what the state (and casino companies) promised or are they financial slackers? Penn National Gaming‘s Hollywood Casino Columbus is somewhat of both, down … Continue reading →

Posted in Economy, Harrah's, MGM Mirage, MTR Gaming, Ohio, Penn National, Racinos, Taxes | Comments Off

Penn overboard!; Macao’s zenith

Posted on November 7, 2013 by David McKee

First the good news about Ohio: Gambling revenue was up 47% last month. Now, the bad news. One a same-store basis it was down 2% year/year. Who knew the Buckeye State would get saturated so quickly? The statewide gross was … Continue reading →

Posted in Atlantic City, Boyd Gaming, Current, Dan Gilbert, Delaware, Economy, Harrah's, Illinois, Internet gambling, Macau, Melco Crown Entertainment, MGM Mirage, Missouri, MTR Gaming, Neil Bluhm, Ohio, Penn National, Racinos, Sheldon Adelson, Stanley Ho, Station Casinos, Tourism, Wall Street | 1 Comment

Big score for Station, little one for Caesars

Posted on November 7, 2013 by David McKee

Station Casinos has a big hit on its hands in the form of Graton Resort & Casino. So many customers turned out for opening day that the doors swung wide an hour early. Ninety minutes later, admittance was being rationed … Continue reading →

Posted in California, Cordish Co., Economy, Harrah's, Macau, Maryland, MTR Gaming, Ohio, Penn National, Pennsylvania, Station Casinos, Tourism, Tribal, Wall Street, West Virginia | Comments Off

Lady Unlucky; Struggling in Ohio; Big deal at MTR

Posted on September 10, 2013 by David McKee

Isle of Capri Casinos appears to have laid an egg with Lady Luck Casino at Nemacolin Woodlands Resort and is now having to lay off 15% of the workforce. Much of the blame properly goes with the State of Pennsylvania‘s … Continue reading →

Posted in Economy, Harrah's, Isle of Capri, MTR Gaming, Ohio, Penn National, Pennsylvania, Racinos, Regulation | 1 Comment

Ohio: A disappointment, not a flop

Posted on June 18, 2013 by David McKee

Editor’s note: On June 20, J.P. Morgan lowered its price-per-share target for Penn National Gaming, citing “the sluggish Ohio ramp,” along with cannibalization of business in neighboring states. On May 22, legislators in Ohio voted to limit payouts from “sweepstakes … Continue reading →

Posted in Dan Gilbert, Economy, Harrah's, Internet gambling, Massachusetts, MTR Gaming, New Hampshire, Ohio, Penn National, Pennsylvania, Politics, Racinos, Regulation, Rhode Island, Tribal, Wall Street | Comments Off

Penn: Start making sense!; Casinos clean up in Lege

Posted on June 4, 2013 by David McKee

Casinos in Ohio have not been living up to revenue expectations. Given such a fallow market, what has Penn National Gaming decided to do? Break ground on two racinos, of course! One is in the Dayton area, the other — … Continue reading →

Posted in Boyd Gaming, Current, Dan Gilbert, Economy, Harrah's, Internet gambling, Macau, MGM Mirage, MTR Gaming, Neil Bluhm, Ohio, Penn National, Politics, Racinos, Sheldon Adelson, Slot routes, Stanley Ho, Station Casinos, World Series of Poker | 1 Comment

Ohio: Penn recovers

Posted on April 8, 2013 by David McKee

Decimation of the slot floor at Hollywood Columbus proved to be just what the doctor ordered, “given the initial lackluster start and relatively low investor expectations,” as J.P. Morgan analyst Joseph Greff writes. Minus 515 machines, revenues at H’wood Columbus … Continue reading →

Posted in Current, Dan Gilbert, Harrah's, MTR Gaming, Ohio, Pennsylvania, Racinos, Wall Street | Comments Off

Ameristar: No surprises; Illinois, Iowa and Ohio all soft

Posted on February 7, 2013 by David McKee

A preview of Ameristar Casinos‘ 4Q12 report draws an about-what-we-expected reaction from Joseph Greff of J.P. Morgan. Ameristar narrowly missed most of Wall Street‘s expectations, a result Greff partially attributes to “sluggish … regional gaming spend.” Hardest-hit by the competition … Continue reading →

Posted in Boyd Gaming, Colorado, Current, Detroit, Economy, Harrah's, Illinois, Iowa, Isle of Capri, Kansas, MGM Mirage, Mississippi, Missouri, MTR Gaming, Neil Bluhm, Ohio, Penn National, Pinnacle Entertainment | Comments Off

Hollywood, we have a problem; The Marrandino mystery

Posted on January 11, 2013 by David McKee

Ohio casinos had a below-average December, although the blow was softened by table hold of — YEOW! — 23%. That’s borderline-astronomical compared to Las Vegas averages for 2004-2011 period. It’ll help make up for slot revenues that suggest, with six … Continue reading →

Posted in Atlantic City, Boyd Gaming, Cordish Co., Current, Dan Gilbert, Economy, Harrah's, Horseracing, Maryland, MTR Gaming, Ohio, Penn National, Racinos, Regulation, Wall Street | 3 Comments