Seven trending gaming industry stories that will impact your casino Revenue Strategy.
1. Investors Remain Bullish on 2018 Casino Stocks
Last year was a banner year for gaming stocks. Penn National was the biggest winner, with Wynn Resorts and Melco Resorts also up over 80% on the year, thanks in large part to growth in Macau. But investors, like "Mad Money" host Jim Cramer, wonder if the run will continue in 2018.
“It's going to be tough for gaming stocks to match their performance in 2017,” says industry expert Travis Hoium. “But if Macau's market continues to grow and Japan opens to casinos, there could be another wave of growth for the industry.”
2. Maryland Casinos Report Strong December Revenues
Maryland experienced another winning month last month. The state’s six casinos generated a little more than $141 million in December, making it the second-best month since casino gambling began there in 2010.
MGM National Harbor accounted for 40 percent of those revenues, with about $57 million.
3. Vegas Veteran Acquires Atlantic City’s Failed Revel Casino
Atlantic City's Revel Casino is getting another chance under new ownership and a new name. Las Vegas property veteran, Bruce Deifik, has confirmed that he purchased the former Revel casino hotel from Florida developer Glenn Straub for $200 million.
He plans to reopen it later this summer under the new name Ocean Resort Casino. And if New Jersey wins its U.S. Supreme Court case to legalize sports betting, Deifik plans to add a sports book facility to the property.
4. Will Georgia Voters Get to Decide on Casino Gambling?
For the past few legislative sessions, gaming supporters in Georgia have been trying to pass a bill that would allow Georgians to decide whether or not casinos should be allowed in the Peach State.
Backers say it could create thousands of jobs and pump millions of dollars into the state economy. Meanwhile, many conservatives oppose it on moral grounds.
5. South Bend’s New Four Winds Casino Opens
The new Four Winds Casino in South Bend, Ind., opened to the public at 4 p.m. on Jan. 16. It’s the first casino in the state of Indiana owned and operated by the Pokagon Band of Potawatomi Indians. It will join other Michigan Four Winds casino owned by the same tribe, which are located in New Buffalo, Hartford and Dowagiac.
6. Slots Are Hot in Detroit
Three casinos in Detroit reported $1.4 billion in aggregate revenue last year, an increase of about 1% over 2016 totals. In fact, slot machines in the Motor City contributed $1.14 billion — or 81% — of the 2017 revenue, while table games took in $260 million.
7. Schenectady Casino Revenue Comes Up Short
Meanwhile, Schenectady, N.Y., is likely to face a budget deficit of about $600,000 once the 2017 fiscal year comes to a close. This is due to the shortfall in the revenue received from the Rivers Casino and Resort that opened there early last year.