The Casino Outlook for the Summer 2021

The wait is over. Casinos have been  given the green light to increase the number of guests they can  accommodate to pre Covid 19 levels. This is welcoming news for the gaming and entertainment industry.The gaming operators have been forced to be resilient over the past 14 months. Most have found challenges with employee retention and acqusition. While that was eased because of the reduction of gaming space,the effort to attract employees must now intensify. Casinos on each coast are offering job referral incentives to current workers and propective hires. One consideration could be to reach out to former employees to gauge their interest in returning in a flexible or part time capacity.

There will be several revenue streams that will recieve a spike in the next 3 months. The Food and Beverage departments along with  hotel  occupancy will approach the historical month to month numbers of 2019. Entertainment will also be a draw to customers looking to go out to shows and concerts. The professional teams are going to full capacity for indoor events so the casinos should be looking to follow suit. Looking at local talent would be a win - win as a gate attraction. 

FYI for those looking for the two hottest concerts in Las Vegas. First is Usher at Caesars Palace. Here is a glimpse of what to expect from the IHeart Radio Awards 2021 and his residency . 

Performance: Usher Sings "Confessions/Love In This Club/My Boo/Yeah" | iHeartRadio Music Awards 2021 - YouTube 

Sports is the vertical that the casinos are betting on. Partnerships with professional teams will boost the use of mobile gaming and sports betting apps.  The marketing opportunities are not just related to wagering on the pre match odds. Extended options involving futures and in game betting should be explored. 

Atlantic City's  revival will be peak during the summer season. Las Vegas will see an increase in their mid week business. The covenience markets like Philly,Washington and Baltimore will have to become creative because they will be competing with other comericial venues for the entertainment spend in those respective cities. 

The leader in all of the aforementioned markets must find their niche and promote themselves effectively. Determine who your customer is and keep that person connected to you. I could expand and give concepts but it would behoove me to share those thoughts in a conversation. For now, you can follow me on LinkedIn and Twitter. 

I will have some exciting news to provide to all you very shortly. Enjoy your summer.

The second performance is Bruno Mars who will be performing at the Park MGM in July. 

Performance: Silk Sonic Sings “Leave The Door Open” | iHeartRadio Music Awards 2021

Follow me on Twitter where I discuss #sportsbetting and #gaming entertainment.  Check out my articles in Bettors Insiders and in the January edition of Igaming player. 

  

 

Take a shot at a new Career

 

This is a unique opportunity for anyone that lives or works in Philadelphia. If you are looking for a new career or one of the many Americans that are open to getting a coronavirus vaccine but have not manage to do so, keep reading.

Rivers Casino Philadelphia is opening the gateway to both scenarios. It is no secret that Rivers is one of the best places in the region to work. The commitment to the staff and patrons is to provide a safe work environment. Hence, the coronavirus clinic.

So where do you fit in?

Rivers is hiring in several departments.

Bryan Meloy,the Food and Beverage Director, has been with Rivers for 10 years. Bryan's career has several highlights that include opening the Wild Wild West in Atlantic City and opening the Rivers Casino Sports Book. He is looking for culinary employees. He would be a great mentor to a food and beverage worker.

Sheri McQueen is a “Day One Leader” joining the Rivers Family in 2010. Sheri was chosen from a group of stellar applicants to be the Table Games Instructor for new dealer candidates. She has taught hundreds of dealers that have went on to supervisory positions with Rivers. The classes are on going and are available on the weekends. A dealer starting hourly rate is approximately 20-23 dollars an hour including tips. This may be a come up for somebody. I forgot to mention the classes are free.

Mike Mastrangelo is our H/R specialist that specializes in matching you up with the position that matches your skill set. If your background involves banking or cashiering, Mike can direct you to a casino cage position. If you have other interest,Mike will find a fit. Rivers wants you to maximize your area of expertise.

So, on Wednesday, May 26 between 2PM and 6PM, Rivers Philadelphia will have a recruiting area at our COVID vaccine clinics “Take a shot at a new Career”.  A Shot, A Career or both. Click this link to see what positions are available.

If you are 12 years old or older (between 12 -17) and are accompanied by a parent or guardian, you can be vaccinated. Free parking is available.

Here is the scheduling link for the vaccine. I look forward to seeing you!

 

Gaming and Entertainment Stocks: Investing in Sports Betting

Many of us have recently recieved stimulus money from the federal government.This is also income tax season. There will be millions of Americans entitled to tax refunds. If you are in a position to speculate on the stock market, the stimulus money and /or the income tax return can jump start that initiative. Looking for reasons and an industry to invest in? Read more!

The economy is slowly returning to Pre Covid levels. Restaurants are expanding their capacity and hours of operations. Casinos are allowing food and beverages to be served in gaming areas. Alcohol has returned to the pit table games. The states are looking to expand revenue options thru gaming.

Sports Betting and online gaming are two popular concepts that have been adopted by as many as 22 states presently.  This is the ideal time to look at investing opportunities in gaming and sports wagering companies. 

I look for stocks based on affordability and profit magin. I research what the price is presently and look at the historical trends of the stock. If a stock is trading at $25 and a year earlier  had a purchase price of $50, I see a potential growth. I will look at the business plans of that company and determine if they are a good buy. I also set a price that I would be content to sell the stock at. If I bought 100 shares at $25, I would be happy to have the stock reach $35 a share. Contrastly, I have a depreciation price where I would sell and cut my losses. If the stock goes under 20 and has never done that in a 3 year period, I will sell and look to start again with another stock.Looking for the hottest deals and best gaming stocks?  continue reading after the video.

Draft Kings: The current price is $48. The median expected price in the next 12 months is $75. It has a high estimate of 105 and a low of 41. Draft Kings made a recent acquisition of VSIN Network. “VSiN creates authentic and credible content that resonates with sports bettors at every level, whether they’re experienced or new to sports betting,” said Jason Robins, DraftKings’ co-founder, CEO and Chairman of the Board. CNN Money grade this stock as a buy.

Penn National Gaming: The current price is $86. The outlook for Penn National is good because they own Barstool Sports. Barstool is presently in 3 states and projecting to be in as many as 10 by the end of the year. The Street's Jim Cramer gave Penn a definite buy on 5/7/21. Jay Snowden,CEO of Penn National Gaming, expess optimism because of Barstool approach to player acquisition and the reopening of the economy.

Rush Street Interactive: RSI rang the opening bell on Wall Street on 1/5/21.The current price is $13. The recent moves by Rush Street are the signs of encouragement. Rush Street was nominated for the Operator of the Year by the EGR Awards for 2021. Then the announcement of Lauren Seiler as Associate Vice President of Investor Relations and Development. She brings expertise in i-gaming,sports wagering, land based operations and finance. BetRivers.com is thriving in Pennsylvania and is postioned in several new jurisdictions. Growth opportunity at the current price.

Several sports and gaming stocks have made major acquisitions. Caesars Entertainment acquired William Hill within the last two weeks.MGM Grand with  it's sports betting app, Bet MGM ,have stated they are in the top 3 in the each of the markets where the platform is available. Fan Duel or Flutter Entertainment is a definite watch because of the name recognition of the brand. PointsBet has extended into a partnership with Penn National that will include 7 states. 

There are several prominent companies that are not mentioned. You should take time to research the gaming ,sports betting and i gaming industries to find the best buy for your buck. There is a synergy between the three that offers value to the stock holder. I hold shares of several of the companies mentioned in this post.

Follow me on Twitter where I discuss #sportsbetting and #gaming entertainment.  Check out my articles in Bettors Insider and in the January edition of Igaming player. 

Metro Report: NFL NFC East Draft Grades

I just finished watching the top 3 rounds of the NFL Draft 2021. I will give my grade of how each team in the NFC East fared with their first three selections. My grades are based on the team and their needs going into the Draft.

Philadelphia Eagles: The Eagles started out by moving up in the draft to 10 and selecting Devonta Smith. Smith was the Heisman Trophy Winner and the top reciever in college. His weight of 166 pounds did not scare the Eagles. It should be noted that Ja'Marr Chase and Jaylen Waddle were selected before Smith. The Eagles went after another Alabama standout in Landon Dickerson. He is a beast but has a history of injuries. He tore his ACL during the SEC championship game in December. In the 3rd round,Philly aded depth to the defensive line with the addition of Milton Williams, defensive tackle from Louisiana Tech. The selection of Dickerson and Williams were perplexing because the o line is relatively young with the exception of Jason Kelce. Birds had a glaring need to add to the secondary and they did not do it.  Grade B-.

Dallas Cowboys: Dallas traded with their rival,the Eagles and selected Micah Parsons from Penn State.Parson was thought to be the best defensive player in the draft. He did not play in 2020 because he opted out to prepare for the NFL. The Cowboys added more defensive help with their 2nd and 3rd round selections of  Kelvin Joseph and Osa Odighizuwa. The Cowboys addressed their abysmal defense with each of these selections. They should improve immediately if two of these picks become starters.Grade A.

New York Giants: The Giants traded back and gain a number one pick in next years's NFL Draft. They selected Kadarius Toney,a wide reciever from Florida. He is a play maker but the Giants appear to have address that need during free agency when they signed Kenny Galladay. Georgia's Azeez Ojulari  will bring immediate help to the outside linebacker position by being selected 2nd. Ojulari was projected as a late first round pick. Adoree Robinson is a CB from Central Florida. He was selected in the 3rd round. While cornerback was also a position that free agent Adoree Jackson was signed to fill, you can always use additional coverage personnel.  By adding more picks, the Giants made this draft and 2022 look very good. Grade A+

Washington Football: Washington improved the team by adding Jamin Davis an inside linebacker from Kentucky. The defense was already elite so adding speed to the linebacker position fits. There is a concern at QB that would have require Washington to move up to go after Justin Fields, The 2nd selection was Samuel Cosmi, OT from Texas. Benjamin St-Juste and Dyami Brown were both taken in the 3rd round. Justus will help in coverage and Brown give Washington another weapon at WR.  Brown can compliment Terry McLaurin. Grade B.

Check out this week's poll on my website and tell me which NFL NFC East team did the best job in the 1st three rounds of the Draft?

Follow me on Twitter where I discuss #sportsbetting and #gaming entertainment.  Check out my articles in Bettors Insider and in the January edition of Igaming player. 

Back to Sporting Events and Casino Entertainment

Last week,I went to my first sporting event in over a year. I attended the Sixers and Phoenix Suns game at the Well Fargo Center.   I was not sure what to expect but I was prepare to execise all precautions that the venue has in place. Since there was a capacity on attendance the traffic going to the game was non existent. What would normally take about 20 -24 minutes took about 15. 

Parking was easily accessible with only certain lots being utilize. Entering the facilty was similar to any other time attending a game. Everyone was wearing a mask. There is a mandatory tempature check.There were no programs that highlight the team and the opponent's game information. Seating was set up to conform with social distancing. There was no one on the row with us.  

If you plan to purchase something from the concession stands or gift shops, prepare to wait in line. There is no social distancing regarding the line. You must have a credit or debit card because all transactions are cashless. I did not see any vendors bring food or drinks to the patrons at their seats. I imagine if you were in a suite that amenity would be available. Time to avoid the restroom is during halftime and a break between quarters. 

I was told that the Phillies have a unique way of enforcing the mask on policy. They have an usher on patrol that will hold up a sign requesting that you keep your mask up if you forget or neglect to do so. While the capacity at the baseball games are larger, the precautions are still in place for you to have an enjoyable and safe expierience.

If you are planning to attend a casino for the first time since the pandemic shut hotels and gaming operations down over a year ago, expect a reduction in gaming spots. Table games that would have accomodated 6 people are now set for 4 patrons.  Casino shows are about to return soon with Dave Chappelle at Foxwood Resort in Connecticutt on June 25th. Usher will begin his residency in Las Vegas at Caesars Palace on July 16.  I would look into booking a flight now to save money. As the summer approaches, airlines will raise prices to meet the demand of more people flying domestically.

I''m looking forward to this fall when the G2E will return Oct 4th thru the 7th. I plan to arrive early and take in a show while I am in town. I will let you know who is headlining as the conference approaches. As more people are vaccinated the level of normalcy will return and the interactions will resume. Keep adhering to the CDC guildlines and we will prevail against COVID- 19.

Follow me on Twitter where I discuss #sportsbetting and #gaming entertainment.  Check out my articles in Bettors Insider and in the January edition of Igaming player. 

Sweet Sixteen

The Sweet Sixteen is set. Not exactly how I envisioned it. But that is the beauty of the tournament. Let's look ar the matchups and try to get an Elite Eight.

Gonzaga beats Creighton: Gonzaga is the most explosive team and have scored over 80 points in both of their games. Creighton does not have enough firepower and must play exceptional just to hang around. Bulldogs -13.5 and 158.

Oregon over USC: Oregon controled Iowa and never let them in the game. I expect the same again when they play the Trojans. Should be a high scoring game. Ducks -2.5 and 139.

Alabama destroys UCLA: Alabama is the 2nd best team in the tournament right now. They will shoot exceptional from distance. Bruins run out of the gym. Bama -6 and 145.5

Michigan defeats Florida State: Michigan is deeper and more talented. They wear State down in a close game early and pull away late. Wolverines -3 and 143.5.

Houston over Syracuse: Houston will solve the Cuse zone and dominate the glass. Defensively sound enoughto hold Buddy Bonheim under 20 points. He has to get 25 or more for Orangeman to stay in it. Cougars -6 and 140.5.

Loyala Chicago beats Oregon State: Loyala control the tempo and wins this game. I can't go against Sister Jean after she prdicted the win over Illinois. Pac 10 have been impressive but styles dictate a Ramblers win. Ramblers -6.5 and 125.

Oral Roberts upsets Arkansas: The high powered Golden Eagles continue their impressive run and defeat the Razorbacks. Oral Roberts +11 and 159.

Baylor over Villanova. Nova is tournament ready and surprise me to get this far without Collin Gillespie. Baylor is too strong and will wear the Wildcats out. Bears -6.5 and 140.5.

My bracket that I selected prior to the tournament needs wins from Baylor, Houston,Gonzaga, Alabama and Arkansas to stay in the hunt. In making my selections, I looked at how the teams are playing now. If you view the entire remaining teams as a reseed then it is easier to evaluate the field. When you get to the Elite Eight I would look at the higher seeded team winning in each game. So they will be one or wo more upsets left before the Final Four.  To quote Jay Z, "Choose One".

Hopefully your teams will be on to the next one and meet in the Elite Eight. Follow me on Twitter where I discuss #sportsbetting and #gaming entertainment.  Check out my articles in Bettors Insider and in the January edition of Igaming player. 

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!

Follow me on Twitter where I discuss #sportsbetting and #gaming entertainment.  Check out my articles in Bettors Insider and in the January edition of Igaming player.