The Battle for Philadelphia Gaming: Round One

The official opening of Live Casino & Hotel in South Philadelphia expanded the gaming casinos in this region to five. They include Rivers Casino Philadelphia, Harrah's Philadelphia Casino, Parx Casino and Valley Forge Casino and Resort. Each of the existing venues has it's own niche. It was a competive and comfortable environment with 4 players. Philadelphia's population of 1.5 million people can accommodate gaming and entertainment for 4 casinos. Live Casino is betting that 5 casinos can coexist and they will be the premiere destination. 

The revenue in Pennsylvania Gaming dropped by more than 20% in 2020. This was largely due to the closing of casinos due to COVID -19. Traditional land-based casino revenue nearly halved. Pennsylvania's casinos racked up approximately 1,500 closure days, or 33% of the days the casinos would have operated normally. Slot-machine revenue fell by $1 billion to $1.3 billion, while table games revenue fell by $400 million to $500 million. However, internet gambling shot up 17 times from $34 million in 2019 to $566 million, and sports betting more than doubled to almost $190 million.

These numbers give two conclusions. The first is the appetite for online gaming is substantial. There is a tremendous opppotunity because of sports betting to introduce new customers to your gaming operation. The second conclusion is that due to limits on capacity, each of the two casino in Philadelphia is on even ground. The relaxing of the food and beverage restraints will level the playing field equivalent to the venues outside the city limits that were able to continue those operations with safety protocols in place.

So each property in the Philadelphia region has the opportunity to rearraign it's share of the market. Some people see competition as a threat. I look at it as an opportunity to improve your game. Identify your strengths and shore up your weaknesses. Find ways to energize your staff and reconnect with your customers. COVID has made managing a gaming operation extremely challenging. One of the best owners I ever work for told me you can't be afraid to try new stuff. It's time.

                                                                      Time is Now

The challenge is there for all 5 casinos. The bell just rang! It's Round One!

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The Metro Report: Sports Betting in New York, Washington DC & Philly

Since the advent of Sports Betting the coverage of the New York, Washington DC and Philadelphia markets are essential to prognosticators. So I will expand with my Gaming Guy News minutes into the 3 top cities on the East Coast.

The Sixers are leading the Eastern Conference with a 13-6 record. They defeated the Lakers on Wednesday 107-106. The Sixers got the test they needed to pass to show they are legitimate contenders for the championship. The wins over Boston earlier in the season were good but Jayson Tatum did not play in either game.  Joel Embiid is one of the names mentioned as a top candidate for MVP along with Lebron James. Doc Rivers should receive some consideration for Coach of the Year if the Sixers win more than 50 games. In games that Embiid does not play, the Sixers are 0-4. Embiid is listed as questionable against the Timberwolves. The Sixers are favored by 7 and the total is 224.  The Timberwolves are one of the worst teams in the league so the Sixers should handle them. 

The Brooklyn Nets have a record of 12-8. They have won 3 straight and are 7 -3 over the their last 10 games. Kevin Durant is leading the league in scoring while James Harden is leading in assists.  The Big Three is working at an optimum level offensively.  They lead the league in scoring with 119.8 per game. They are also number one in field goal percentage. They are a work in progress defensively. They are 26th in points allowed. Most of their games trend over. The Nets play the Thunder tonight and they are -9.5 with the total set at 231.5.

The Washington Wizards are continuing to struggle with a 3-11 record. They are last in defense. The Wizards are 4th in points per game. So a change in defensive philosophy is required. They may have to become more creative by trapping the opposing team's top scorer or play a zone to force the opponent to shoot from outside. The Bradley Beal trade rumors continue. I would like to see him and Russell Westbrook stay put. The Wizards have missed several games due to Covid protocols and not having enough players available to dress for the games.  This indicates that guidelines were not adhered to. The Wizards are at home tonight against the Atlanta Hawks. They are getting 4 and the total is 234.

The New York Knicks have a record of  8-11. They are 4th in the league in rebounding. They allow the fewest points to be scored against them. However, they struggle to score over 100 points a game. That equates to 47% of their 19 games. When  they play a team that is ranked in the top 15 defensively this is a trending under play on how many the Knicks will score as a team. The Knicks play the Cavaliers tonight and they are +1.0. The total is 208.0.

My Sports Betting Minute Tip of the day is for NBA action and in game wagering. 

The Eagles have selected Nick Sirianni as their new head coach. Sirianni most recently served as offensive coordinator for the past three seasons in Indianapolis under Frank Reich, who became the Colts' head coach after helping the Eagles win Super Bowl LII. In that role, the up-and-coming NFL coach played a major part in helping Indianapolis reach the postseason in 2018 and 2020. This week Duce Staley decided to to go to the Detroit Lions as their running back coach.  This disappointed some Eagles fans who wanted to see him as the coach to replace Doug Pederson. The Eagles have the 6th pick in the NFL Draft and are projected to pick Jaylen Waddle from Alabama.

The Sports Betting Business in Philadelphia is getting a new member. Live Casino is joining the action with Fan Duel as the sports platform provider. Since most of the wagers from competitors are coming from the online betting via mobile and tablet apps, it will be interesting to see who does the best job regionally marketing their retail location. Competition bring creativity. The existing Casino Operators include Rivers Casino Philadelphia, Parx Casino, Valley Forge Resort and Casino and Harrah Philadelphia.

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Metro Report: Sports Betting in New York, Washington DC & Philly

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Since the advent of Sports Betting the coverage of the New York, Washington DC and Philadelphia markets are essential to prognosticators. I would normally just focus on Las Vegas, Philly and Atlantic City but times have changed. So I will expand with my Gaming Guy News minutes into the 3 top cities on the East Coast.

The Giants are now in 2nd place in the NFC East. The Cardinals handle them easily and Daniel Jones did not look comfortable coming back from a hamstring injury. They are playing the Browns this week at home. Browns are favored by 3.5 in the opening line. After a thrilling loss to the Ravens on MNF in a game considered one of the best of the year, expect the number to go up.

The Washington Football team took over 1st place in the NFC East. After Dwayne Haskins came into the game for injured QB Alex Smith, the Washington defense rallied and took an interception to the end zone. They play the Seahawks at home this week and are 5.5 underdogs. While both team need the game, the betting public makes this number go to 6 or higher by game time.

The Eagles won for the 1st time in 5 weeks with Jalen Hurts having his 1st start as QB. He provided the spark the team needed and kept them in the race for the division. They are 1.5 games back with 3 to play. They have an 11% chance of winning the East. Their best scenario is to win out and Washington lose at least 1 of their next two games. They face the Cardinals this week and are getting 6.5. That line should stay static.

Sixers played a preseason game against the Celtics. They won 108-99 with the starters playing most of their minutes in the 1st half. No news on the James Harden watch. If the Sixers do go in on Harden ,the pieces they would have to consider moving are Tobias Harris, Matisse Thybulle and Mike Scott. The depth on the team would be lessened considerably. The addition of Harden would make the Sixers a championship contender. The Sixers have a projected win percentage of 58.5%. They would have to win 43 games to surpass that projection.

Kevin Durant and Kyrie Irving looked impressive in his preseason game against the Wizards. Russell Westbrook and Bradley Beal  sat the game out. After the game, Westbrook and KD embraced and spoke briefly. That was good for both of them considering how their relationship frayed when KD left OKC 4 years ago. The Wizards have a projected winning percentage of 45,5%. To exceed that projection they would have to win 33 games.

Sports Business and Sports Betting in DC is doing well on the retail side. William Hill & Monumental Sports and Entertainment  are increasing their handle every month. The average bet on a kiosk is approximately $125.  Parx Casino in Philadelphia had a combine retail and online gross revenue in October of 3,2 million before taxes. Those numbers will increase when the NBA returns to action.

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Sports Wagering and Business This Week

This will keep you current with the industry. These post will include trends about the sports betting market and information about what state is planning to offer it next. This will be a winning situation for a sophisticated operator and his constituents.

SugarHouse and Rivers Casino Pittsburgh collaborated with the direction of Rush Street Interactive to start a season long NFL Promotion that will have weekly prizes and a grand prize of $125,000 dollars. The is a fee of $150 per person to enter  with a limit of 25 entries per registrant. This contest is easy and should attract many sports bettors. You have to pick the games straight up and the person with the most wins is in the running for the money. For the weekly prizes, the tie breaker is the total points on the Monday Night Football Game. The second tie breaker is who submitted their entry first. For more details click here.

Parx Casino opened it's Sports Book as part of a 10 million dollar expansion on 8/9. It is a roomy 7400 square feet that includes a 156 foot media wall that can show up to 36 games at one time. There are 18 kiosks,200 seats and 3 VIP areas. 

The initial figures of the online gaming revenue in Pennsylvania are in. Here is the list of how each casino did. The 1st two months show a trend of more bets being placed on line than at the brick and mortar facilities. This replicates how bets are made in New Jersey. I anticipate that the percentage of online bets for Pennsylvania Sports Betting should approach 80% by the end of September. 

In Washington DC ,there will not be any sports betting to start the NFL season. There are still several issues involving logistics and regulations. The interest is high with several bars and small business owners making plans to apply for sports wagering permits that would allow for betting on site. The Monumental Sports and Entertainment appears to be targeting the spring of 2020 to have a venue ready that will include betting on sports and dining.

Iowa is the latest state to introduce sports betting. They will allow mobile gaming anywhere within state borders but to participate you must go to a casino to open an account. You have to register in person. There are several mobile platform providers that include William Hill and Caesars Interactive. Iowa has taken a smart approach by starting to take bets before the onslaught of NFL and College Football.

If you want me in real time you can follow me on Twitter, Facebook, Pinterest and Instagram for updates! You can also see my post on Bettors Insider  one of the top sites for sports betting and gambling.

Sports Wagering and Business This Week

This will keep you current with the industry. These post will include trends about the sports betting market and information about what state is planning to offer it next. This will be a winning situation for a sophisticated operator and his constituents. 

The Pennsylvania Gaming Control Board released the figures that the Sports Books in Pennsylvania generated during the month of  January. SugarHouse Casino had the largest handle in the state. Parx Casino had the largest hold of all operators. For the entire breakdown go to PGCB.

Rivers Casino had the most signifigant addition to the Sports Betting  landscape on the East Coast with Jimmy Vaccaro. Mr. Vaccaro will be Director of Sports Relations for Rivers. This hire brings expertise and credibility to Rivers.

The Philadelphia Business Journal had the 2019 Book of Lists this week. The casinos were ranked by Sharon Oliver who compared total gross revenue. The top 3 were Parx Casino, Borgata Hotel Casino and Spa and SugarHouse Casino. Each of them have plans to expand their sports betting operations from temporary spaces to permanent dedicated area in 2019.  For the entire list contact the Philadelphia Business Journal and obtain the book.

Sports Business and Wagering this Week

This will keep you current with the industry. These post will include trends about the sports betting market and information about what state is planning to offer it next. This will be a winning situation for a sophisticated operator and his constituents. 

Harrah's Philadelphia Casino open it's sports betting operation this week. This is a permanent facility and has 4,300 square footage of space. It has 45 large screens and 19 lounge seats. Harrah's has partnered with Scientific Games for the technological platform that will eventually include a mobile app offering. This is the 3rd casino in the Philadelphia area to offer sports wagering. The others are Sugarhouse and Parx.

The Super Bowl is approaching and is anticipated as one of the largest wagering events of 2019. More money will be wagered legally on this game than any other Super Bowl. This is not because of the match up but due to more states having sports betting. The handle would have been higher if New England were playing the Saints. The marquee match between Brady and Brees would have generated large prop action.

The states that are strongly considering adding sports betting next are New York and Maryland. Governor Cuomo is all in favor of New York having wagers on site at the casinos. Maryland wants to keep pace with the fast track legislation in Washington DC. How intelligent each of the sports betting operations are managed will determine success and profitability.

Sports and Business Wagering This Week

If you are looking for the latest in Sports and Business Wagering, you are at the right place. We plan to give you all of the trends and breaking developments that occurred. You will stay current on the hot topics that involve the operators and the people that like to bet on sports. Any state that is proposing Sports Betting will be highlighted. 

The NFL announced that it is partnering with Caesars Entertainment. Caesars will become the official casino that will have rights to NFL trademarks in the United States and the United Kingdom.  The trademarks can not be used in a Caesars Sports Book. The partnership is for casino gaming only.

The big bet of the week was made at Ocean Resort Casino in Atlantic City. Someone put down 300,000 on the Ravens during Wild Card Weekend. That bet was a loser! Four days later ,it was reported that Ocean is looking for a buyer less than a year after a grand opening. Sport Betting alone is not the cure all for a gaming operator. 

In Philly, the opening of the South Philadelphia Turf Club that is owned by Parx Casino, will increase the handle in Pennsylvania. The location is less than a mile from the sports stadium complex that serves as homes for the Phillies. Eagles, Flyers and Sixers. 

Two major players to watch in the casino industry are Kambi and Tangam.  Kambi provides the software and platform for sports betting at Rivers Casino in Pittsburgh, SugarHouse Casino in Philadelphia and the aforementioned Parx. Tangam provides data analysis that help make effective decisions for the casino floor. This information is critical and provides revenue generating suggestions in real time.

                                                  Enjoy the NFL games this weekend!

Sports and Business Wagering this week

We will give you the latest news about Sports Business and Wagering that occurred in this calendar week. This will keep you current with the industry. These post will include trends about the sports betting market and information about what state is planning to offer it next. This will be a winning situation for a sophisticated operator and his constituents.

NFL Wild Card Weekend is about to start. Covers.com  reported that a bet of 100,000 was placed on the Cowboys within the last 24 hours. This wager was made at one of the MGM properties. 

Parx Casino is about to open it's Sports Book on Tuesday in Philadelphia. This will be the 2nd site to open in Philly. Both locations will benefit if the Eagles make it pass the 1st round.

The Sports Betting bill in Washington DC does not open itself to a fair trade environment. There should be an open bid for the privilege of being a platform operator. There should be the use of the mobile app of choice as long as the user is within the District. When there is a rush to get things done you normally do it wrong. 

Seventy Six Capital is participating in the CES in Las Vegas next week. This is a tremendous move that will advance Sports Business further into the technical and analytical aspects that the gaming industry has been slow to respond to. The Consumer Electronic Show brings the latest in cutting edge technology to the public. Follow Wayne Kimmel and his team via Twitter if you are not attending the show.

Each of the increasing popular Sports Betting 101 Series will be part of this so you can have each post together. Since we add a new post to that series every week you will always see the previous 3 with this feature. We encourage you to follow and stay relevant.  

Why the bettor should wager with a legal operator

The Las Vegas Experience

Straight Bets and Parlays

                                                      Enjoy the NFL games!

Sports Betting 101: Things the bettor needs to know

Sports Betting in Vegas

When Sports betting comes to Pennsylvania, there are several things that bettors should be aware of.Sports betting is new to this area so many of the operators will have a staff of ticket writers that is relatively inexperience. This holds true for the person making the wager. The bettors should be prepared to bet early and check their ticket prior to leaving the window, 

The bettors should familiarize themselves with the wager they plan to make. The wager should start with the bettor saying what type of bet they want, the team or number that they want to bet on and the amount. 

In the coming days, we will share the terminology that will make your sports betting experience fluid. Our expertise is not just relative to the bettors. Follow us if you are looking for innovation in your sports wagering and management operation.

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What I Gaming will do for Casino Players

We decided to look at what I Gaming will do for the casino patron. Most times we look at new products from the house perspective. But I Gaming will be prevalent in Pennsylvania.New Jersey has  shown outstanding numbers and trends upward every year since it's inception. Pennsylvania should do the same.

So how does this benefit the players? It will make gaming more convenience than ever. The fact you can play whenever you want at whatever minimum you want. The restriction will be that you must be within the state boundaries.

Another benefit to the players are the promotional aspects of playing online. Since the product is not as labor intense, the marketing associated with I Gaming will be considerably liberal. This will induce play.

Lastly, casino players will have an opportunity to play at sites that are not geographically close to them. If a patron enjoy the I Games that are offered at a casino that is more than an hour ride from their home,they can play on that site and join their rewards club. They can build a relationship with that operator and monitor the gaming entertainment lineup. They can position themselves for discounts and seats that only the online patron is eligible to receive.

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                   Check out our app, Smart Responsible Gaming at thegamingguym.com/

The side effects of Hard Rock Hotel and Casino 40 days before opening

We are seeing the adverse effect that Hard Rock and Ocean Resort Hotel and Casino are having on the Mid Atlantic Gaming region prior to opening. This side effects will not diminish the magnitude of each property and their opening dates. We like the concept of both new properties opening on the same day. They have brought attention back to Atlantic City along with thousands of jobs and tax revenue.

The side effects are the secondary problems for casinos that operate in Pennsylvania and Maryland. Many workers at those facilities migrated to them when Revel, Showboat and Taj Mahal closed. Many still have residences in or near AC and were looking for an opportunity to return. This will create a deficit in the short term for casino operators in those aforementioned states. The positions that will take the biggest hit are food & beverage, player development and table games.

Another secondary effect is the anticipated entertainment that both properties will have. Ocean Resort will have Top Golf as part of their amenities. Hard Rock announced they will have over 300 diverse live performances. The experience of going to Atlantic City will trump the convenience of gaming locally in the short term. Since entertainment dollars are judiciously spent, customers will be selective about what acts and events they are going to see.

We will elaborate in a future post as to what alternative methods the casinos within 2 hours of Atlantic City can do to respond. A link to "Side Effects of You" by Fantasia is here in the meantime.

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                   Look forward to seeing you at the East Coast Gaming Conference in AC. 

                                                     Click June for details.

             

This Week in Gaming Review

The big news in gaming came from Atlantic City with the report that the Taj Mahal Hotel and Casino will close as of October 10. There is a strike at that facility and the owners are blaming it for the decision to shut down. The Taj was not doing well before the strike so that is not totally accurate. If this decision stands, this will drop the number of casinos in AC to 7. Revel was scheduled to re open sometime in August but no definitive date was given. The Taj was once the crown jewel of the Boardwalk. In 2003, the Taj had the highest grossing casino revenue in AC. The lack of property reinvestment and Borgata changed that over the last 10- 14 years.

Penn National purchased a social gaming site that will help with the possibility of online gaming coming to Pennsylvania. A social gaming site give a casino another way to engage with the player when they are not on property. The name of this firm is Rocket Games Inc. and they are based in San Francisco.

Parx Casino was selected by Philadelphia Magazine in the #BestofPhilly  edition. Philadelphia Magazine has been compiling this list for over 42 years. They include everything from restaurants, bars ,cheese steaks and beauty salons. Everything! We commend everyone that was selected and look forward to see who makes the list in 2017.

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                                                        48 days until #G2E2016

This Week in Gaming Review

The 2nd week of 2016 provided statistics that made operators in Pennsylvania and New Jersey nothing less than ecstatic.  Pennsylvania posted record numbers last year to $3.17 billion, topping the previous high of $3.16 billion set in 2012. This information was released by the PGCB on Friday.

 

The four casinos in the Philadelphia area had $1.19 billion in revenue, up 3.9 percent form $1.14 billion the year before. Slots revenue was up 2.8 percent locally, while table games revenue gained 6.6 percent. The 4 Philly casinos include Parx, SugarHouse, Harrahs and Valley Forge. These outstanding numbers are a prelude to the Philly Live project that is expected to start construction within the next 11 months.

New Jersey Online Gaming hit a new monthly revenue high in December and full-year revenue improved by more than 20 percent. The Atlantic City leaders in December were Borgata and Caesars Interactive.

Borgata

According to figures released Wednesday by the Division of Gaming Enforcement, state-licensed online operators reported revenue of $14m in December, 6% more than November reported 13.2 million and 30.8% higher than December 2014’s total. The online casino vertical rose 39% year-on-year to $12m, while poker revenue fell 3.6% to just under $2m. For the year as a whole, the state’s online revenue came to $148.8m, 21% higher than 2014. Total online casino revenue in 2015 came to $125m, up one-third from 2014, while poker revenue fell 18% to $23.8 million. This is confirms that online gaming is trending in the right direction.

 

Governor Brian Sandoval

Lastly, Gov. Brian Sandoval officially reconvened the Nevada Gaming Policy Committee to discuss skill-based games and daily fantasy sports, among other issues.

According to a statement from his office, Sandoval signed an executive order to reconvene the 12-member committee, which includes the governor, select members of the legislature, a tribal representative, members of the public and other appointees, including gaming regulators and licensees.

"The industry is constantly changing as more states and countries enter into this increasingly competitive field, and I believe the changes we are witnessing demand the attention of Nevada’s policy leaders," Sandoval says in the statement.

According to the statement, "The objective of the Committee is to gather input from various constituencies, including the public, on gaming policy issues, for possible future consideration by Nevada’s Gaming Control Board and Gaming Commission, as appropriate."

The committee meet no later than March 15 and deliver non-binding recommendations before October. I am curious to see which licensees will be on the committee. I'll report that information in a future post.  I want to note that the Associated Press was the source of the Nevada related news. It was condense to fit this post.

 

 

I was 2-2 last week during NFL wildcard weekend with the best bet losing. Texans + 8.5 in a teaser.

This week my best bet is #Seattle + 8.5 in a teaser. Enjoy the games.

 

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Online Gaming News in Pennsylvania

The past three weeks have been similar to  Fast and Furious 7 with all the activity involving online gaming. Pennsylvania has at least two additional bills that are related to internet gambling. One takes on the logistics involving registration and the exclusion of any holders of a Category 3 license. This would deny Valley Forge the opportunity to participate.

 

The new bills are also asking for a tax rate of 54%. This is  the same level that Pa. taxes slot play. This will not work in an online environment. New Jersey is making things work with a rate of 17.5%. That rate has the operators able to market the product and turn a profit. With the rate of 54%, there would not be internet gaming in New Jersey. Delaware taxes online slots at a rate of 43.6 percent and 29.4 percent for other games, including poker. The first $3.75 million per year has a 100 percent tax rate. They are not making any money.

Mark Lipparelli

Mark Lipparelli, Former Chairman of the Nevada Gaming Control Board, told a California House Committee that he felt the proper tax rate would be the high single digits and that any amount higher than the low teens would hurt the growth of regulated online gaming. Promotions are the drivers of internet wagering. They are limited when the profit margin is minimal. A rate of 12 to 15% is suitable. It could start at the low end and increase over a 4 year span.

 

I am sure that the compromise phase will come when the bills reach the floors of the House and Senate. Here are my three bullets of what can make this happen successfully and by 2016.

• Remove the registration at the property stipulation. That takes the convenience factor out of it. This also limits the operator to a locals only atmosphere.
• Set up the capacity for compacting agreements with any state that has online gaming. This would increase liquidity in Poker and Slots when tournaments are held. It would also drive more revenue to the participating states.
• Limit the amount of providers to casinos that are currently operating  in this state. They are stakeholders and would maintain the integrity of the online product. Allow at least one partner that is independent of the casino to buy into the platform of shared revenue, provided that partner can pass a review by the Pennsylvania Gaming Control Board. This would increase marketing efforts. 

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