Merger in the background.
The acquisition of Caesars Entertainment proposed by Tilman Fertitta and the acquisition of Caesars Entertainment by MGM rose to headlines in November. Although neither business has materialized, previous mergers and acquisitions dominated the industry in 2018.
Eldorado Resorts, a Reno casino company that gained national attention after buying the island of Capri in 2017, made significant changes in 2018, with the acquisition of Grand Victoria Casino in Chicago and the acquisition of Tropicana Entertainment with GLPI in October (GLPI brought the property, Eldorado operates the casinos). The organization has 28 assets in 12 states and territories.
In October, Penn National merged with Pinnacle Entertainment and gave 40 properties to 18 states under Penn’s control. This compares positively to Caesars Entertainment’s global portfolio of about 50 properties. Boyd Gaming bought four casinos, including Valley Forge Casino, which Penn had to sell as part of the Pinnacle acquisition.
Washington is changing.
The resignation of Geoff Freeman, CEO of the American Gaming Association, marks the end of a short but fruitful chapter in the organization’s history. Under Freeman’s leadership, the organization expanded its membership to include tribal gaming organizations as well as smaller service and technology providers. His most obvious achievement was the AGA’s drive to legalize sports betting (see point 2 above), but he also helped the AGA respond to changing times in many other ways. As the casino industry redefines itself, the appointment of DC insider Bill Miller as CEO could anticipate new approaches.
These five stories contributed to 2018 in casino games, which was 2018. While it is unclear how they will affect the industry in the future, it is difficult to claim that they made 2018 a memorable good or bad.
Essential Quality is a favorite of this year’s Kentucky Derby betting odds +275. The undefeated horse has a couple of Class 1 wins, including the Breeders ’Cup youth poker sider competition in 2020. While that win was significant, the Breeders’ Cup youth winners have only won the Kentucky Derby twice in 36 attempts. Luis Sáez rode the Essential Quality Breeders Cup to victory, and his experience at Churchill Downs should help him.
Sáez and Horse Maximum Security were the winners of the race 22 minutes before the title was removed due to rejection of the race. Sáez gets a second chance to win a prize he was able to see earlier. History favors favorites in this race, so it’s no surprise that many sports bookmakers have mentioned the biggest risk of the day.
Rock Your World is the second favorite winner today in the race after a good performance at Santa Anita, and at +475, the three-year-old has seen late support from bettors hoping for shocking better odds.