Commentaries

In March, casino revenue in Macau fell 0.4 percent to $3.2 billion; in February revenue was up 4.4 percent and in January down 5 percent.  VIP win was down 10 percent for the first quarter and mass-market win was up 8 percent. Predictions for the rest of year vary, but no one sees any significant growth in 2019.  However, Morgan Stanley is predicting dramatic growth over the next 3 years, from $37 … [Read more...]

When casino magnate Sheldon Adelson decided to build a string of resorts in Macau in 2002, his competitors were skeptical. “Everyone else in the gambling industry thought it was the dumbest idea ever,” Adelson told Forbes. “Now all the naysayers would cut off their right arm to get a piece of land there. I’ve got a warehouse full of arms, and a couple of left ones, too.” Nearly two decades … [Read more...]

The casino industry and its addicted enabler — a.k.a. your elected Pennsylvania representatives — never ceases in their efforts to bring more gambling options to every corner of the Commonwealth. From slots to table games to sports betting, to online gambling to gambling at truck stops and airports, the gambling industry complex has spread across the state faster than the the emerald ash borer … [Read more...]

Charlie Ebersol was sure his new football league was different, even as it ventured into the dark hole that had swallowed up ventures like his before. I talked to him in November, before uniforms had even been ordered and one game had aired. The Alliance of American Football league was well financed and for real, he said, and ready to put on a show for a country supposedly starved for more … [Read more...]

Back in 2013, when Steve Wynn came before the state Gaming Commission to argue that he was suitable to hold a Massachusetts casino license, the commission took all its normal steps to make the proceedings transparent. It posted the results of the commission’s suitability investigation online and streamed the proceedings on its website. Ultimately, the commission deemed the Las Vegas mogul and his … [Read more...]

Oh, once mighty Caesar, what has befallen thee? Caesars Entertainment, once the strongest of casino companies appears to be nearing its end.  Since December Carl Icahn has acquired nearly 20 percent of the stock of Caesars Entertainment.   Icahn thinks the company is underperforming and the stock undervalued.  To rectify the situation, Icahn wants Caesars to make some structural changes including … [Read more...]

With sports betting legal in eight states, NCAA tournament brackets are more than a hobby for fantasy league fun, bragging rights and office pools. NCAA officials are now renewing efforts to address how sports gambling may affect game integrity, as ESPN reports. March is also Problem Gambling Awareness Month. The National Council on Problem Gambling, a nonprofit that advocates for programs for … [Read more...]

The biggest dice game around was just a few miles down the road when Jimmy Vaccaro was growing up in the Pittsburgh area. So was Comet News in Braddock, where those in the know slipped behind the green door into a back room where bookies offered action on both ponies and games. The longtime Las Vegas oddsmaker still likes to drive by the now shuttered Comet when he has time. It reminds him of … [Read more...]

The national gaming narrative is being kidnapped by the legalization of sports gambling.  It has been less than a year since the Supreme Court ruled the Professional and Amateur Sports Protection Act of 1992 is unconstitutional.  Sports betting has leaped from the exclusive territory of Nevada casinos onto the national stage like an Olympic long-jumper.  Since that momentous ruling, six states and … [Read more...]

There’s plenty of action at Rivers Casino in suburban Des Plaines on this Wednesday afternoon. Scores of gamblers shovel quarters and dollar bills into banks of garishly colored video terminals with flashing names like Blazing 7’s Blackjack and Ultimate Texas Hold ’Em. Others prefer the high-stakes buzz of table games. “Guess what?” shouts a player to a small stack of pale blue chips as he scoops … [Read more...]

The future of sports teams after creative geniuses and super stars leave is a frequent topic of discussion.  The same kind of discussion also takes place in business; is there life after Steve Jobs, Sam Walton, Ray Kroc or Colonel Sanders?  Recently two major events occurred in casino gaming that have created the “life after” discussions about Wynn Resorts and the Las Vegas Sands.   In February … [Read more...]

It was supposed to be one of the most thrilling days of the year at Santa Anita. Two big races at the historic Southern California track, including one of the top preps for the Kentucky Derby. Bob Baffert in the house, sending out a pair of undefeated 3-year-olds. But the place will be empty on Saturday. After the deaths of nearly two dozen horses in less than three months, Santa Anita … [Read more...]

Legal sports betting may be coming to Minnesota. But it doesn’t seem to be in much of a hurry. Consider that the Senate bill that would partially legalize sports books in Minnesota narrowly slipped out of its first committee Thursday (and faces an uncertain response at its next stop). The majority leader of the Senate isn’t keen on the idea. The state’s 11 Native American tribes are opposed. … [Read more...]

Internet gambling is a scourge and a plague, a magnet for crime and corruption. Or it’s a blessing and an economic boon — and a digital-era inevitability that we should tax and regulate. Or maybe online gambling is mere fiscal snake oil, a sham panacea that causes more social and economic woes than it solves. In this ongoing debate, some voices are louder than others. And a recent legal opinion … [Read more...]

Gaming revenues in Macau have stagnated lately.  It is difficult to put a finger on the exact cause partly because the city is a mixture of government systems.  Macau is unique in many ways; it was a Portuguese trading post for 300 years until it became a Portuguese colony in 1887. Gambling has been legal in one form or other since circa 1850 and has been traditionally controlled by Chinese … [Read more...]

(This is the third in an ongoing series examining sports gambling, and its impact on the people — and sports teams — of Massachusetts, and beyond.) When it comes to the link between “integrity” and sports betting, 2019 offers a bounty of round-numbered opportunities to explore this most touchy of subjects. This October, after all, will mark the 100th anniversary of when the “Black Sox” from … [Read more...]

When it comes to growing the economy and raising revenues, the 30th Legislature needs to learn to work smarter, not harder. Since no one else wants to say it, I will: it’s time for a state lottery system, casinos and legalized, taxable gambling in Hawaii. The official position of most local state and county agencies when it comes to gambling is almost perfectly captured by the Department of … [Read more...]

In a time when New York is seeing stunning declines in state tax revenues and faces an unexpected $2.3 billion budget shortfall, the state must not miss out on valuable opportunities to raise new revenue. That’s why the push to implement sports betting in New York without offering mobile wagering is a mistake the state can’t afford to make. New York’s current sports betting law will force New … [Read more...]

My anthem recently has been Bradley Cooper in A Star Is Born singing that maybe it’s time to let the old ways die, yet here I am, driving over the Ben Franklin Bridge on a Sunday, just like I used to when I wanted a bottle of wine and the State Stores were closed. These days, Pennsylvania sells wine on Sunday, and the gas prices have equalized, but I’m headed to Cherry Hill because you must … [Read more...]

Except for horse racing and a lottery, when it comes to gambling, Virginia has for years avoided casinos with slot machines and roulette wheels, believing they are tacky, risky and too close to organized crime. For evidence, look at Atlantic City or Las Vegas. That’s been a prudent policy, but it seems about to change in a big way. There’s strong momentum now to set up casinos at some six … [Read more...]

SEN. LINDSEY GRAHAM, R-S.C., talked to U.S. Deputy Attorney General Rod Rosenstein “several times” about changing the Justice Department’s interpretation of a law that banned interstate betting, he told The Intercept. A 2011 Justice Department analysis of that law effectively legalized online gambling; last month, the department reversed that opinion. “I’ve been pushing this from the day it … [Read more...]

Anyone walking through the York Galleria can see that the Spiringettsbury Township mall is in trouble. Two of the former anchor stores are completely vacant. A third has been split, with Marshall's on the second floor and Gold's Gym on the first. There are vacant stores everywhere, and signs proclaim that at least one more, Charlotte Russe, will be closing soon. The formerly bustling site … [Read more...]

The state Gaming Commission has given preliminary approval to regulations that would open casinos to legal sports betting. Commission members drew a line, however, between casinos and racinos such as Batavia Downs Gaming that unfairly deprives the racinos from benefiting from expanded betting. The distinction is as curious as it is unfair and should be erased. The preliminary regulations … [Read more...]

Most decisions made by the Department of Justice are made to protect the long-term integrity of the institution. Policy changes are not made swiftly and can often take decades to implement. As a lawyer and former associate deputy attorney general in the George H.W. Bush administration, I have never come across a decision as corrupt, unethical and legally bankrupt as the one the Justice … [Read more...]

I’ve voluntarily purchased new clothing three times since 2007. I clip coupons. I have an annual September calendar reminder to call SiriusXM, to threaten to cancel my subscription. They don’t like to lose customers, so each time they give me their latest promotional rate. I regularly sign up for and track my credit cards in a spreadsheet to take advantage of new promotional offers and maximize … [Read more...]

Atlantic City is seemingly experiencing a resurgence.  Gaming revenue has grown year over year for the last two years after ten years of declines.  In 2018, total gaming revenue was up 8.7 percent and for December, a whopping 25 percent.  However, a word of caution, it may not be what it appears  The pressure from casinos in Pennsylvania that lead to a decade of decline still exist and will … [Read more...]

It’s ridiculous to think Wynn Resorts could escape paying a multi-million-dollar fine stemming from a 10-count complaint filed by Nevada gaming regulators that read like excerpts from a Law and Order: SVU script. But the company is nonetheless hopeful of that outcome when it faces the Nevada Gaming Commission. Steve Wynn was shown the door a year ago, as were seven company executives who … [Read more...]

Half an hour before a preseason hockey game last fall, Ted Leonsis strolled down the concourse of Capital One Arena in Washington, stopping every now and then to pose for someone’s selfie. Leonsis owns both the Washington Capitals, the National Hockey League team, and the arena itself, a squat behemoth that fills a block of Chinatown not far from Ford’s Theater. He also owns other teams that play … [Read more...]

Steve Wynn and Kazuo Okada are two of the most successful men in gaming. Their careers span almost fifty years; each of them in his own way shaped the industry.  Wynn and Okada are the same age, born in 1942.  In the early 2000s, Wynn and Okada became partners when Okada invested $380 million in the newly formed Wynn Resorts; they shared the title of co-founder.  They appeared to be the best of … [Read more...]

With Illinois in desperate financial shape and a new governor taking office who advocates costly new social spending plans, the state is desperate for new revenue. So, once again, legislators who traditionally look for easy ways out of vexing problems are looking for an easy way out. That's why a dramatic expansion of gambling is on the table again in Illinois. Among the proposals, … [Read more...]

Beginning in 1996, Brian Sandoval was Nevada Assemblyman, chairman of the Nevada Gaming Commission, Attorney General of Nevada, a judge serving in the United States District Court or the District of Nevada and in 2011 he became Nevada’s 29th governor.  Throughout his twenty plus years in politics he was always considered among the best and brightest, a rising star.  Nationally, he was considered … [Read more...]

With the last streaks of daylight fading on a mild October evening, the cars pulled up in waves at Piero’s Italian Cuisine, an old-school Las Vegas hotspot known for its osso buco. Cadillacs with tinted windows. Taxis and rideshares. A black Bentley limousine and a white minivan. Men and women emerged, most casually dressed, there for the first of a series of posh, private events hosted by the … [Read more...]

Don’t have time to read every Greater Boston casino story? Just catch up with this one. We’ve anticipated your questions and provided some bite-sized answers. What is the extremely abbreviated background on the current brouhaha over the Wynn Resorts casino? For nearly a year, investigators for the Massachusetts Gaming Commission have been looking into allegations of sexual misconduct against … [Read more...]

Imagine if you can, a 30-something couple sitting at a table in their local bar.  They are telling their friends about a trip they took recently.  In the story, the couple on vacation in a faraway place called The Strip, decided to go down to the hotel swimming pool.  It was a nice sunny day and they had nothing to do before dinner.  On the way to the pool they stopped and played a slot machine … [Read more...]

Back in 2003 when I was an undergraduate at the University of North Carolina, online poker and online sports betting took the campus by storm. We very much felt that we were part of a movement, the birth of a new industry. The websites were regulated, but not by anyone in America. The legality of the activity from an American perspective was certainly a shade of gray. In 2006, the Unlawful … [Read more...]

Of the many powerful men brought down by the #MeToo movement, the disgrace visited upon casino mogul — and high-profile Trump booster — Steve Wynn may well have been the costliest to the greatest number of people. Since February, when the Las Vegas icon behind some of the most celebrated and profitable casino resorts stepped down as CEO amid multiple accusations of sexual misconduct, Wynn Resorts … [Read more...]

November, like October, was a good month for gaming operators in Nevada. With many indicators up, it appears that the summer slowdown is as much a memory as triple-digit temperatures in the currently chilly Mojave. This will likely boost investor confidence in Las Vegas-based casino giants in the short-term, as solid results from Las Vegas, coupled with domestic expansion, make these companies … [Read more...]

ATLANTIC CITY, N.J. (AP) — Wanna bet on sports? First, make sure you know what you’re doing — and the odds against you. Seven U.S. states now offer legal sports gambling, and as many as 30 more will consider jumping on board in 2019. So here are some of the basics — as well as some more esoteric aspects — of betting on sports. ___ PONY UP The biggest difference between placing a … [Read more...]

The narrative that has grabbed the most headlines and inches of copy in 2018 is sports betting.  The Supreme Court of the United States overturned the Professional and Amateur Sports Protection Act of 1992 in May, or as one clever headline put it - SCOTUS kicked PASPA to the curb.  Following the demise of the sports betting prohibition, Delaware started taking bets. It was quickly followed by New … [Read more...]

Before he was President, before he was the star of The Apprentice, Donald Trump was a merely a high-profile real estate developer and casino owner. He had a long run in Atlantic City, where he expanded his casino empire to, at its largest, four properties, but was not always successful in getting what he wanted. Exhibit one: Trump’s Palace Casino Hotel, a mooted name change for a Boardwalk … [Read more...]

The casinos in Atlantic City are having the best year they have had in ten years and some people are beginning to speculate the city is back on the road to prosperity.  For the first ten months of 2018, the casino win is $2.387 billion, up 5.76 percent from 2017.  There are good reasons for increases; Atlantic City has now has online gambling, two new casinos and sports betting.  Online gaming in … [Read more...]

On a Wednesday, exactly six days before Christmas, Sens. Orrin Hatch (R-UT) and Chuck Schumer (D-NY) elected to drop a 101-page federal sports betting bill on the world. The bill closely follows a discussion draft circulated weeks earlier. While it was known that the previous draft had input from more than just Hatch, there was confirmation Wednesday that Hatch’s writing partner was indeed … [Read more...]

In November, Marylanders voted overwhelmingly to erase some of the fine print they had missed when they voted 10 years before to legalize slot machine gambling. It seems people had gotten the impression that this new money would go toward enhancing Maryland’s public schools — understandable given that the biggest chunk of the money was earmarked for a newly created Education Trust Fund. It took … [Read more...]

The anti-casino message was strong and swift. With a 5-2 vote Tuesday night, the Enid City Commission rejected an offer to support plans by the United Keetoowah Band of Cherokee Indians in Oklahoma to build a casino in east-central Enid. The commission also rejected an offer of in-lieu-of-tax payments related to making a few acres of land in the middle of the city a tribal trust, making the … [Read more...]

With 2018 almost over, it’s time to consider just what the biggest news-makers were for the casino industry in that year. 2018 did not lack for either headlines or significant changes in the gaming industry, which continues to adapt to changing social and economic realities. Steve Wynn exits Wynn Resorts. He’s widely hailed as the man who created modern Las Vegas. Certainly without the … [Read more...]

According to Wikipedia, speed dial is a function available on many telephone systems; it allows a person to place a call more quickly and with much less effort.  It is a great idea, a person no longer has to laboriously push all those buttons or touch numbers on a screen.  In an act of absolute genius a lawmaker in Michigan has found a way to put paying taxes on speed dial. The tax is not an … [Read more...]

The mayor of Las Vegas attended the Major League Baseball Winter Meetings in 2004 with a showgirl on each arm and an Elvis impersonator behind him. This is not an exaggeration. Oscar Goodman was a former mob lawyer who represented “Tony the Ant,” the inspiration for Joe Pesci’s character in Casino, but in his second life, from 1999 to 2011, he was a wildly popular mayor of Las Vegas. His mission … [Read more...]

It’s a tale right out of “First Wives Club” – except better . . . way better. He can’t keep his hands off the hired help (“The manicurist, oh for god’s sake, what are you thinking!”) But times change and the help doesn’t have to put up with that kind of behavior any longer, and woe to the billionaire who hasn’t figured that out. So she ends up calling the shots for the business he was forced … [Read more...]

Splash one arena deal. Phoenix Mayor Thelda Williams and Councilwomen Laura Pastor and Debra Stark have asked for a postponement of this afternoon's City Council vote on whether to spend $150 million upgrading the Suns arena. This, because the deal will go down in defeat if it's put to a vote. Whether they get a continuance or not could mark the beginning of a showdown between the city and … [Read more...]

Two top executives from casino equipment provider AGS met recently with investment managers in San Francisco and Denver. Union Gaming Group analyst John DeCree went with them. The Las Vegas-based manufacturer wasn’t seeking money. The non-deal road show allowed AGS – which has been on fire in the eyes of investors since its initial public offering in January – to highlight its growing business … [Read more...]

It came as no surprise that a recent WalletHub study named Las Vegas the most sinful city in the United States. After all, “Sin City” has to be more than just marketing fluff, right? Las Vegas definitely is sinful, at least according to the parameters of the study, but not because it’s any different from the rest of the country—just a little more honest and accommodating than virtually everywhere … [Read more...]

The long-delayed casino near the sports stadium complex in South Philadelphia received another extension from the often-acquiescent Pennsylvania Gaming Control Board. This casino has gone through changes in names, locations, and owners since the license was awarded in 2006 to Foxwoods Casino Philadelphia, which failed to get financing. The latest developer – who has close ties to President … [Read more...]

The house always wins. They know that in Las Vegas. But in Massachusetts, well, not so much. And right now the Massachusetts Gaming Commission — which faces a $2.6 billion decision on the Wynn Resorts Casino rising in Everett — is playing the game like a bunch of country rubes. The commission, which has been letting its staff and investigators basically run the show for months, is … [Read more...]

Thanksgiving has become the busiest travel and shopping holiday of the year.  It is a great time for retail sales and travel destinations, but it is not without its potential liabilities.  In the long-term, those who benefit today may suffer and in the short-term other businesses are suffering now. Regardless of the implications, Thanksgiving has become a culture changing phenomenon.   An … [Read more...]

Earlier this year, I published Tales from the Slot Floor, a collection of edited interviews with casino slot managers, part of a larger project that captured how the discipline of casino management has changed and continues to evolve in the face of ongoing technological and demographic shifts. Based on a series of interviews with veteran slot management professionals, the book presents insights … [Read more...]

Whether they are exploring the strip in Vegas or touring the virtual world on a smartphone, when it comes to the games people play, they generally have two questions fairly close to the front of their mind. What are the chances of winning and what are the rewards from doing so. Of course there are other considerations too. A game is so-called for a reason and needs to be one the player will … [Read more...]

Florida’s gubernatorial and Senate races are not the only ballot items from Election Day that are undergoing re-examination. It turns out that the ballot question on the future of casino gambling in the Sunshine State is likewise the subject of some post-election intrigue. Amendment 3, which passed with more than 70 percent of the vote (considerably higher than the 60 percent threshold needed for … [Read more...]

The sales of three properties, Greektown in Detroit, Atlantic Club Casino in Atlantic City and Kentucky Downs in Kentucky, were announced in the same week.  Terms were not disclosed on the Atlantic Club or Kentucky Downs, but Greektown was reportedly sold for $1 billion to Penn National and VICI Properties.  Penn is paying $300 million for the casino operations and VICI $700 million for the real … [Read more...]

There are certain years that, at the end of which, the world moves closer to the future than the past, years that mark major shifts in how we see the world, or a small part of it. It’s possible that Las Vegas is experiencing one of those years now, which has profound implications for how Las Vegas casinos are owned, developed, and operated. First, some history to put 2018 into context. Some … [Read more...]

When the U.S. Supreme Court struck down a federal law earlier this year banning sports gaming in most states, justices made it clear that states should decide the issue, not the federal government. “The legalization of sports gambling requires an important policy choice, but the choice is not ours to make,” Justice Samuel Alito wrote in the majority opinion. “Congress can regulate sports gambling … [Read more...]

Whew, the mid-term elections are in the rear view mirror.  It brings an end to incessant political advertisements and speeches, to a daily stream of emails soliciting support and the harassing robocalls.  The campaigning was intense, the rhetoric inflamed and the emotions strong - but it worked.  A record number of people voted in a mid-term election in many states; at least two states had more … [Read more...]

ATLANTIC CITY, N.J. -- On a Saturday afternoon in October, the race and sportsbook at the Borgata Hotel Casino is packed with horse racing enthusiasts cheering on the ponies. No one is paying attention to what's hanging on the wall, but it's a big deal, a sign of a monumental shift in the American sports landscape. In the front-right corner of the sportsbook, above the betting windows, the … [Read more...]

The action is coming fast and heavy. A bettor in New Jersey used his mobile app to win $325,000 on a $500,000 wager on Boston to win the World Series. Another DraftKings bettor hit a longshot money line parlay on longshots Oregon State and Kansas to collect $4,313 on his $50 bet. Many others, surely, will be scrambling to pay the rent next month after their can't-miss bets somehow … [Read more...]

Biloxi, MS - Capitalizing on opportunities, it's how games are won in sports. A multi-billion dollar opportunity in sports gaming is presenting itself nationwide. So far only one southern state is capitalizing. "It's been so well received here and it's so long overdue," said Will Hall, the Race and Sports Book Manager at the Beau Rivage in Biloxi, Mississippi. It's another busy Saturday … [Read more...]

SHREVEPORT, La. - On Election Day, Arkansas voters will cast ballots for or against Issue 4. It would amend the Arkansas Constitution to authorize four casinos to operate in the state. Susanne Brunner went to Shreveport Louisiana to learn more about the impact casinos have in the city and what that could mean for Arkansas. A city rich in history has seen its fair share of various businesses pop … [Read more...]

On October 23rd an article in the Becker Hospital Review reported on a casino-themed, charity fund raiser called the Founder’s Ball held in Brooklyn, New York.  The event was attended by 850 people and raised $1.5 million for the hospital.  The attendees wore formal attire and played blackjack, roulette, craps, poker and slot machines.  The event is not really news, except in an historical … [Read more...]

One of the most contentious and expensive items on Idaho’s November ballot centers around a piece of electronics the size of a fridge. This machine — a “historical horse racing” terminal — could either boost Idaho’s horse racing industry and economy, or send the state down a path of gambling and casinos, depending on whom you ask. And how the machine’s appearance and operations stack up … [Read more...]

After years of lobbying and legal maneuvering, the Supreme Court in May rescinded the Professional and Amateur Sports Protection Act of 1992, which had kept most forms of sports betting confined to Nevada. States from Mississippi to New Jersey have since legalized sports betting. New Jersey is under particular scrutiny because it has a large casino industry and is the state that launched the legal … [Read more...]

There are 38 casinos located in seven states between Boston and Washington, D. C.  The long line of casinos might easily be called a strip, not unlike the Strip.  On the Atlantic Strip, the casinos are being built as close to population centers as possible. Nearly all recent legislation has required a casino licensee to build a resort, not just a gambling hall.  Legislators believe a resort will … [Read more...]