Although 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 predatory practices, responsible gaming, and the safety of visitors to Buffalo Thunder and Cities of Gold.” That’s the response from a spokesman for New Mexico Gov. Susanna Martinez (R, below) to the Pojoaque Pueblo, which is basically trying to secede from the Land of Enchantment.
Negotiations between the state and the tribe reached an impasse. When the Pojoaque Pueblo were barred from suing New Mexico in federal courts, this opened the door to direct tribe-to-Interior Department negotiations. The tribe seeks to cut the state out of any slot machine revenue and lower the drinking age to 18. “Also gone would be state restrictions that ban serving alcohol in gambling areas; prohibit cashing payroll, Social Security or welfare checks at casinos; limit the number of gambling facilities; and set certain personal injury remedies for casino customers.”
That’s a fairly brazen set of demands but there’s not much the state can do but submit comments in late August. Gubernatorial challenger and Attorney General Gary King (D), who enjoys the financial backing of the Pojoaque Pueblo, is noncommittal on the compact at this point. Whoever wins, Martinez or King, is going to face five compact renewals with other tribes next year and they’re going to want terms that put them on a level playing field with Pojoaque Pueblo, you can bet on that. Both gubernatorial candidates should gird their loins for a contentious 2015. The loser might be the luckier of the two.
* No surprise, the newer casinos in the Macao market are dominating it in terms of revenue. Three quarters of the $24 billion grossed to date this year were concentrated among six casinos. Tops is Galaxy Macau, up 39% and grossing $3 billion, followed by Wynn Macau ($2.5 billion, up 8%) and Melco Crown Entertainment‘s City of Dreams ($2.5 billion, up 11%). Then came MGM Grand Paradise ($2.3 billion, up 10.5%), then Venetian Macao ($2.2 billion, up 26%), Stanley Ho‘s Grand Lisboa ($2 billion), Sands Cotai Central ($1.7 billion, up 31%) and Galaxy StarWorld ($1.5 billion).
Sociedade de Jogos de Macau‘s L’Arc ($800,000) and Sands Macao ($710,000) rounded out the top 10. Veteran Casino Lisboa ($575,000) was in 14th place, while Melco Crown’s Altira took a nosedive, falling 20.5%. For all the bellicose noises Sheldon Adelson makes about his prominence in Macao, it’s quite a surprise to find his casinos in the middle of the pack.
The hold is lower for quarters because it includes video poker. You should know that by now.