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 casino’s creditors. Butera hasn’t disclosed what his “rare opportunity outside of the gaming industry” is. Perhaps, having converted $2.2 billion in old debt into $1.7 billion in new debt, Butera feels his work is done. Said Woody, “Foxwoods now has a strong executive team and a solid plan that I believe will result in great success in the near future.”
Among the unfinished business Butera leaves is the casino’s attempt to penetrate southeastern Massachusetts. It’s been mulling sites in Fall River and is expected to make a strong push for the Bay State’s last casino license. Anyway, Butera made his name as a restructurer, not on operator. Having reorganized Foxwoods’ debt, perhaps Butera feels there is relatively there for him to do.
* Louisiana had a good August, up 1% from last year. The headline item was an 
unlikely upset in Lake Charles, where Isle of Capri Casinos‘ underdog Isle Grand Palais was up 8%, at the expense of L’Auberge du Lac, down 6%. (L’Auberge still outgrossed Grand Palais, $31 million to $13 million, but the shift in momentum is noteworthy.) Pinnacle Entertainment‘s other L’Auberge -branded property, in Baton Rouge, was flat, which was more help to Tropicana Entertainment‘s Belle of Baton Rouge (up 5%) than to GLPI‘s Hollywood Baton Rouge (down 4%). In dollar volume, L’Auberge outgrossed its two competitors combined.
Harrah’s New Orleans was even more dominant of the Big Easy market, grossing $27 million. Even a 2% drop in revenue didn’t put it in shouting distance of Boyd Gaming‘s Treasure Chest (up 2%), Pinnacle’s Boomtown New Orleans (down 4%) or Churchill Downs‘ Fair Grounds racino (-6%). Boyd 
struggled at some of its outlying properties, like Amelia Belle (-3%, left) and Evangeline Downs (-4%) — integrating the Peninsula Gaming portfolio has been easier said than done. However, strong results at Delta Downs (up 6%) and Sam’s Town Shreveport (+11%) put Boyd in the plus column for the month, alongside Isle and Caesars Entertainment.
The crowded Shreveport/Bossier City market had a banner month, the exceptions being Diamond Jacks (-11%) and Caesars’ Louisiana Downs (-1%). Horseshoe Bossier City led the market in dollars and percentage gain (12%). Other properties posting positive results were Pinnacle’s Boomtown Bossier (+5%), Eldorado Shreveport (+11%) and Margaritaville (+6.5%). Indeed, during its brief existence, Margaritaville has elbowed its way to third place in the market. Who says there’s no good news in gaming?
* Speaking of Eldorado, the Carano family received the final clearance it needed to subsume MTR Gaming into Eldorado HoldCo. The transaction doubles the size of Eldorado’s portfolio, including adding lucrative Scioto Downs, in Ohio, and Mountaineer Casino, Racetrack & Resort, in Chester, West Virginia. Those MTR properties are going to be in very good hands, as anybody who’s stayed at the Caranos’ Silver Legacy in Reno can attest.
I’m going to miss the “Woody” references!