Category Archives: Taxes

Massachusetts soars; The Strip meets The Street

Gambling win in Massachusetts shot up 14.5% in February, reaching $98 million. Market leader, of course, was Encore Boston Harbor with $63 million (+14.5%). MGM Springfield leapt 17% to $23 million and Plainridge Park climbed 10% to $12 million. Wynn … Continue reading

Posted in Boyd Gaming, Caesars Entertainment, Century Casinos, Downtown, DraftKings, Entertainment, FanDuel, Golden Gaming, Golden Nugget, Hawaii, Internet gambling, Las Vegas Raiders, Las Vegas Sands, Macau, Marketing, Maryland, Massachusetts, MGM Resorts International, Nevada, New Jersey, New York, Politics, Singapore, Slot routes, Sports betting, Station Casinos, Taxes, The Rio, The Strip, Wall Street, Wynn Resorts | 1 Comment

MGM’s sugar daddy

Lest we should get all warm and fuzzy about Blackstone Group, second-largest landowner on the Las Vegas Strip, here’s a bracing reminder of how it got to be where it is today.

Posted in MGM Resorts International, Real Estate, Taxes, The Strip | Comments Off on MGM’s sugar daddy

Atlantic City in winter; Ohio rebounds; Lightfoot booted

Given a slow news day, let’s finally catch up with our East Coast bureau and see what’s been happening on the Boardwalk. First off, demerits to Ocean Casino Resort for contributing in its own small way to climate change by … Continue reading

Posted in Atlantic City, Bally, Barstool Sports, BetMGM, Boyd Gaming, Caesars Entertainment, Chicago, Churchill Downs, DraftKings, Entertainment, FanDuel, Golden Nugget, Hard Rock International, Jack Entertainment, Marketing, MGM Resorts International, Ocean Resort, Ohio, Penn National, Politics, Sports betting, Taxes | 1 Comment

Caesars hedges on NYC; Buyer’s remorse in Ohio

Although he currently has the frontrunner for a Manhattan casino, Caesars Entertainment CEO Tom Reeg is waffling a bit. Potentially ceding momentum to deep-pocketed rivals like Wynn Resorts and Las Vegas Sands, Reeg said Caesars wouldn’t get into an “arms … Continue reading

Posted in Bally, Barstool Sports, BetMGM, Caesars Entertainment, Chicago, Detroit, DraftKings, FanDuel, Illitch Family, Indiana, Internet gambling, Las Vegas Sands, Louisiana, Massachusetts, Mattress Mack, MGM Resorts International, Michigan, Nebraska, New Hampshire, New York, Ohio, Penn National, Politics, Racinos, Regulation, Rush Street Gaming, Sports, Sports betting, Taxes, Texas, The Strip, Virginia, Wall Street, Wynn Resorts | Comments Off on Caesars hedges on NYC; Buyer’s remorse in Ohio

A peek at Penn; DraftKings retreats, Aruze tumbles

Wall Street analysts got an early look at Penn Entertainment‘s 4Q22 earnings, which were mildly adverse and poorer than The Street expected, and which point to a flat trajectory going forward through the early summer. Deutsche Bank analyst Carlo Santarelli … Continue reading

Posted in Bally, Baseball, Chicago, DraftKings, FanDuel, Hawaii, Illinois, International, Kazuo Okada, Marketing, Mattress Mack, New York, Penn National, Politics, Sports betting, Taxes, Wall Street | Comments Off on A peek at Penn; DraftKings retreats, Aruze tumbles

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

‘Fight’ club; New Horseshoe powers Louisiana

Having experienced buyer’s remorse on DFS site Monkey Knife Fight, and now trying to re-sell it, Bally’s Corp. finds itself with a ton of Monkey Knife Fight-branded merchandise that it must unload. After all, if it finds a pigeon, er, … Continue reading

Posted in Atlantic City, Bally, BetMGM, Boyd Gaming, Caesars Entertainment, Canada, Churchill Downs, CQ Holdings, DFS, FanDuel, Golden Nugget, Internet gambling, Law enforcement, Louisiana, Marketing, Massachusetts, New York, Ohio, Penn National, PointsBet, Politics, Problem gambling, Regulation, Resorts World LV, Security, Silverton, Sports betting, Station Casinos, Taxes, The Strip, Wall Street | Comments Off on ‘Fight’ club; New Horseshoe powers Louisiana

The tax that ate Las Vegas; Dr. King misremembered

A horrible idea for the taxpayer, the economy and for gaming in particular has been resurrected in Congress. Yes, it’s the “national sales tax,” which would lay a double-digit impost on all goods and services, and which only could be … Continue reading

Posted in AGA, Cretins, DraftKings, Economy, history, Marketing, Michael Gaughan, Movies, Nevada, Politics, Station Casinos, Taxes | 2 Comments

Station scores; New York OSB boffo … for state, that is; Kosar sacked; Renegade slots reconsidered

Station Casinos is $62 million richer after unloading $56.5 acres of land near South Point to HCA Healthcare, a hospital chain. Don’t worry about Station’s plans to challenge Michael Gaughan for sub-Strip supremacy: It’s still harboring 126 acres of scrubland … Continue reading

Posted in Animals, Bally, BetMGM, Caesars Entertainment, Diversity, DraftKings, FanDuel, Las Vegas Sands, Macau, Michael Gaughan, Missouri, Movies, New York, Ohio, PointsBet, Politics, Real Estate, Regulation, Rush Street Gaming, Slot routes, Sports, Sports betting, Station Casinos, Taxes, Transportation, TV, Wynn Resorts | 2 Comments

MGM: Change partners and dance; 888 TKO’d

It’s Blackstone Group out, Vici Properties in at MGM Grand and Mandalay Bay, as Vici exercised its option over the half (OK, 49.9%) that it didn’t already own. Blackstone is $2.8 billion richer as a result, including $700 million in … Continue reading

Posted in Alabama, Arizona, Atlantic City, Bally, BetMGM, Boyd Gaming, Caesars Entertainment, California, Canada, Conventions, DraftKings, Economy, Election, FanDuel, Florida, Genting, Golden Nugget, Internet gambling, Iowa, Las Vegas Raiders, Las Vegas Sands, Macau, Maryland, MGM Resorts International, Michael Gaughan, Nebraska, Politics, Puerto Rico, Racinos, Real Estate, Regulation, Sports betting, Taxes, Texas, The Strip, Tilman Fertitta, Tourism, Tribal, Vici Properties, Virginia, Wall Street, WInd Creek | Comments Off on MGM: Change partners and dance; 888 TKO’d

Risky mandate in Macao; Penn’s problems; Debacle at Mirage

That sowing sound you hear is casino executives from Las Vegas to Hong Kong heaving a gargantuan sigh of relief that all the incumbent gaming concessions in Macao were renewed last weekend, leaving Genting Group still on the outside looking … Continue reading

Posted in Architecture, Barstool Sports, Boyd Gaming, China, Cretins, Downtown, DraftKings, Failsinos, Genting, Health, Macau, MGM Resorts International, New York, Penn National, San Manuel Band of Mission Indians, Sexual misconduct, Sports, Sports betting, Station Casinos, Taxes, The Strip, Tourism, TV, Wall Street | 1 Comment

Report from Chicago; Gray Lady in high dudgeon

If you have a bridge in Brooklyn or perhaps some swamp land in Florida, then Oak Street Real Estate Capital would like to hear from you. It just paid $200 million for the site of Bally’s Chicago and $300 million … Continue reading

Posted in AGA, Atlantic City, Bally, Barstool Sports, California, Chicago, Diversity, DraftKings, FanDuel, GLPI, Hard Rock International, Health, Illinois, Internet gambling, Las Vegas Sands, Macau, Marketing, Maryland, Michigan, New Hampshire, New Jersey, New York, North Las Vegas, Penn National, Pennsylvania, Real Estate, Regulation, Rhode Island, Sports betting, Taxes, The Strip, Tourism, Tribal, Virginia, Wall Street, Wynn Resorts | 1 Comment

Atlantic City slumps; Adele hell

Dateline: O’Hare International Airport, land of crappy wi-fi. We’re not back at the office yet but there’s so much news it just can’t wait. Let’s start in Atlantic City, where casino revenues slumped 7% to $220.5 million last month. Everybody … Continue reading

Posted in Apollo Management, Atlantic City, Bally, Barstool Sports, BetMGM, Boyd Gaming, Caesars Entertainment, Century Casinos, Chicago, Churchill Downs, Cordish Co., CQ Holdings, Detroit, DraftKings, Economy, Entertainment, FanDuel, Genting, Golden Gaming, Greenwood Racing, Hard Rock International, Illitch Family, International, Internet gambling, Louisiana, Macau, MGM Resorts International, Missouri, Mohegan Sun, Ocean Resort, Penn National, Pennsylvania, Rush Street Gaming, Sports, Sports betting, Taxes, The Rio, The Strip, United Kingdom, Virginia, WInd Creek, Wynn Resorts | 7 Comments

Texas casinos pitched; Gaming snubs economy

We’ll shortly see if newly reelected Texas Gov. Greg Abbott (R) was sincere about being willing to “take a look” at casino gambling in the Lone Star State or if he was stringing Dr. Miriam Adelson along for her money. … Continue reading

Posted in AGA, Economy, Health, Iowa, Las Vegas Sands, Politics, Racinos, Taxes, Texas, Virginia | 1 Comment

Caesars Strip-tease; Slot flea swatted; Biden targets resort fees

In the end, all that talk of Caesars Entertainment selling a Las Vegas Strip asset was just a sham. The company probably couldn’t find any takers for the Flamingo at CEO Tom Reeg‘s preposterous asking price (ditto his equally preposterous … Continue reading

Posted in Arizona, Bally, Baseball, Caesars Entertainment, Chicago, Churchill Downs, Conventions, Cordish Co., Hard Rock International, Indiana, Internet gambling, Lake Tahoe, Louisiana, Michigan, Nebraska, Nevada, New York, Planet Hollywood, Politics, Real Estate, Resort fees, Sports betting, Taxes, The Strip, Tourism, Tribal, Virginia, Wall Street, Washington State | 4 Comments

Atlantic City update; G2E convenes; Penn upgrades

Happy Indigenous Peoples Day, especially to our tribal readers. We’re spending it nursing a nasty case of strep throat and distantly following Global Gaming Expo, which convenes today at the newly expanded Las Vegas Convention Center. This year’s G2E, like … Continue reading

Posted in Atlantic City, Australia, Bally, BetMGM, Caesars Entertainment, Culinary Union, Dan Lee, Dining, DraftKings, FanDuel, G2E, Genting, GLPI, Golden Nugget, Health, Illinois, Kazuo Okada, Law enforcement, M Resort, Macau, MGM Resorts International, New York, Ocean Resort, Ohio, Penn National, Philippines, PointsBet, Regulation, Rush Street Gaming, Sports betting, Star Entertainment, Station Casinos, Taxes, Technology, Tilman Fertitta, Wall Street, Wynn Resorts | 1 Comment

Report from the shore; Cretins win in Alabama

While Bally’s Corp. may not be the laughingstock of the casino industry, it isn’t for want of trying. You would think that Bally’s Atlantic City (above) would want to pimp nearby Bally’s Dover Downs to its customers. Instead it sent … Continue reading

Posted in Alabama, Alex Meruelo, Arizona, Atlantic City, Australia, Bally, Churchill Downs, Delaware, DraftKings, Economy, Hard Rock International, Health, Kentucky, Las Vegas Raiders, Marketing, Mississippi, New York, Politics, Sports betting, Star Entertainment, Taxes, United Kingdom, Wall Street, Washington State, WInd Creek | 1 Comment

Crimes and misdemeanors

Whoever killed reporter Jeff German may not be too terribly smart. Las Vegas Metro released photos of its prime suspect, dressed in “a bright orange reflective long-sleeve shirt, a pair of jeans and a straw hat that covered much of … Continue reading

Posted in California, Election, International, Kansas, Kazuo Okada, Law enforcement, Lotteries, Massachusetts, Missouri, New Jersey, New York, Pennsylvania, Philippines, Politics, Problem gambling, Regulation, Scientific Games, Sexual misconduct, Sports betting, Steve Wynn, Taxes, Tribal, Wynn Resorts | Comments Off on Crimes and misdemeanors

Jottings for the weekend

Aside from the launch of sports betting in Kansas—spearheaded by Hollywood Casino and Kansas Star—it’s been a slow news week. Casino gambling is headed the wrong way in Alabama, where employee-owned GreeneTrack Class II casino was forced to shut down, … Continue reading

Posted in Alabama, Australia, Boyd Gaming, Caesars Entertainment, Connecticut, Crown Resorts, Detroit, DraftKings, Florida, history, Kansas, Las Vegas Sands, Macau, Mohegan Sun, Money laundering, Nebraska, Penn National, Racinos, Seminole Tribe, Singapore, Sports betting, Taxes | 1 Comment

PILOT overboard!; Black Book bust; A spark for Sparks

“There is no evidence to suggest that casinos could not meet their PILOT obligations.” With those words Judge Michael Blee tossed New Jersey‘s current Payment In Lieu Of Taxes (PILOT) special-status tax program for casinos, which has lost round after … Continue reading

Posted in Arizona, Atlantic City, Barstool Sports, BetMGM, Caesars Entertainment, Churchill Downs, Derek Stevens, DraftKings, FanDuel, Gary Goett, Golden Nugget, Law enforcement, MGM Resorts International, New Jersey, Reno, Rush Street Gaming, Taxes, The Strip, Wynn Resorts | 1 Comment