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Tropicana Entertainment Inc. (TPCA)

- OTCQB
  • Mon, Aug. 31, 5:12 PM
    • Las Vegas visitor volume rose 5.3% Y/Y to 3.547M visitors in July, according to data from the Las Vegas Convention and Visitors Authority.
    • Room capacity was down 0.2% during the month.
    • Revenue per available room rose 4.4% to $96.70.
    • Despite the boost in traffic, gaming revenue in Clark County (LV Strip, downtown LV, Boulder Strip) was off to $800.38M.
    • YTD Las Vegas visitor volume is +2.0% to 24.743M.
    • LVCVA release (.pdf)
    • Related stocks: LVS, MGM, WYNN, FLL, CZR, BYD, OTCQB:TPCA.
    | Mon, Aug. 31, 5:12 PM | 15 Comments
  • Tue, Aug. 25, 2:00 PM
    • A federal appeals court in Philadelphia upheld a ruling that keeps sports betting illegal in all but four states.
    • The state of New Jersey was looking for relief in its bid to offer sports betting at casinos and racetracks across the state.The Third Circuit ruled that the state's plan to open up sports wagering violates the Professional and Amateur Sports Protection Act of 1992.
    • Nevada is the only state where it's legal to bet on individual games, although Delaware, Oregon, and Minnesota have other forms of sports betting. Legislation pending in Indiana, Minnesota, New York, South Carolina, and Texas could be stalled after the legal ruling.
    • Regional casinos and racetracks have the most to gain from sports betting legalization.
    • Related stocks: PENN, PNK, ISLE, DDE, CHDN, MCRI, CNTY, CZR, MGM, WYNN, UWN, OTCQB:TPCA, NYNY.
    | Tue, Aug. 25, 2:00 PM | 5 Comments
  • Thu, Aug. 20, 12:32 PM
    • A new report from the Association of Gaming Equipment Manufactures argues that tighter slot machines have contributed to a drop in revenue.
    • Slot hold percentages increased 6.2% from 2007 to 2014 as total slot revenue fell off.
    • Despite a variety of economic factors in play, the higher hold percentage is seen as diminishing traffic and reducing the overall time visitors spend in a casino. Some analysts have suggested a disconnect between slot machines and the interests of the under-30 generation is a larger factor.
    • Full report on slot market by the Association of Gaming Equipment Manufacturers (.pdf)
    • Related stocks: PENN, PNK, ISLE, DDE, CHDN, MCRI, CNTY, CZR, MGM, WYNN, UWN, OTCQB:TPCA, NYNY.
    | Thu, Aug. 20, 12:32 PM | 18 Comments
  • Tue, Jul. 28, 12:07 PM
    • Gaming revenue in Nevada fell 8.37% to $830.9M in June, according to the Nevada Gaming Control Board.
    • Las Vegas Strip revenue was off 16.1% to $445.5M.
    • An exceptionally strong month for baccarat a year ago made the comparison tough this year.
    • Gaming Control Board report
    • Related stocks: LVS, MGM, WYNN, FLL, CZR, BYD, OTCQB:TPCA.
    • Related ETF: BJK.
    | Tue, Jul. 28, 12:07 PM | 8 Comments
  • Mon, Jul. 20, 8:15 AM
    • Bank of America Merrill Lynch has raised estimates on the regional gaming sector.
    • Regional casinos saw solid year-over-year traffic increases in April and May, leading to optimism that Q2 profit estimates will be topped.
    • Related stocks: ISLE, PENN, PNK, BYD, GLPI, CHDN, MCRI, OTCQB:TPCA, CNTY, ERI, NYNY, DDE, UWN, FLL, LACO.
    | Mon, Jul. 20, 8:15 AM | 4 Comments
  • Mon, Jun. 29, 8:14 AM
    • Nevada gaming revenue rose 3.33% in May to $1.003B to mark the first time the casinos in the state generated over a billion dollars since December of 2013.
    • The boxing match between Floyd Mayweather and Manny Pacquiao was a significant traffic driver during the month.
    • Slot revenue +8%.
    • Baccarat revenue -33%.
    • Las Vegas Strip revenue +1.4%, while downtown Vegas casinos saw a 15% upturn.
    • Fiscal YTD Nevada gaming revenue -0.99%.
    • Nevada State Gaming Control Board report (.pdf)
    • Related stocks: CZR, CACQ, MGM, WYNN, LVS, BYD, OTCQB:TPCA,
    • Related ETF: BJK
    | Mon, Jun. 29, 8:14 AM | 2 Comments
  • Fri, May 15, 4:07 PM
    • Senate Bill 9 has been passed by both legislative chambers in Nevada, clearing the way for skills-based casino floor games.
    • The development also opens a door for videogame sellers to create or license casino versions of their popular titles.
    • The casino industry has its eyes on attracting millennials after seeing the group show tepid demand for classic table games and slot machines.
    • New Jersey and Mississippi have also set the stage for casino floor innovation with similar legislation.
    • Previously: Paging Steve Nash to the Borgata (Feb. 13)
    • Related stocks: CZR, WYNN, SGMS, ISLE, PNK, PENN, MCRI, CNTY, IGT, MGM, BYD, OTCQB:TPCA, ATVI, TTWO, EA.
    • Related ETFs: BJK
    | Fri, May 15, 4:07 PM | 10 Comments
  • Wed, Apr. 29, 12:09 PM
    • Gaming revenue fell 3.15% to $951.25M during March, according to the latest report from the State Gaming Control Board.
    • The Las Vegas Strip saw a sales decline of 9.58% during the month.
    • Fiscal YTD LV Strip revenue is -4.81%.
    • Last night, Steve Wynn gave a bleak assessment of demand in Las Vegas during the Wynn Resorts earnings call.
    • Gaming Control Board report (.pdf)
    • Wynn Resorts conference call transcript
    • Related stocks: Caesars Entertainment (CZR -0.7%), Penn National Gaming (PENN -2%), Wynn Resorts (WYNN -16.1%), MGM Resort (MGM -4.9%), Boyd Gaming (BYD -0.6%), Tropicana Entertainment (OTCQB:TPCA).
    | Wed, Apr. 29, 12:09 PM | 2 Comments
  • Tue, Apr. 28, 2:57 PM
    • Tropicana Entertainment (OTCQB:TPCA) says it has completed a $50M renovation for its property in Atlantic City.
    • The company hopes to boost casino traffic and online gambling revenue which is run through its website.
    • New Jersey online gambling numbers have trailed early projections.
    | Tue, Apr. 28, 2:57 PM | Comment!
  • Wed, Apr. 22, 5:02 PM
    • Tropicana Entertainment (OTCQB:TPCA) announces it hired Theresa Glebocki to be the company's new CFO.
    • Glebocki was hired away from Revel Entertainment Group.
    | Wed, Apr. 22, 5:02 PM | Comment!
  • Tue, Mar. 10, 8:00 AM
    • The casino industry is starting to make some noise about an IRS proposal to drop the reporting level of casino winnings to $600.
    • The IRS wants to lower the threshold on slots and bingo to $600 from $1,200.
    • Keno would be taken down to the $600 level from $1,500.
    • The new levels would create more work for gaming companies and could cut into hold rates as winners are slowed down.
    • Casino lobbyists plan to argue that the thresholds should be raised to adjust for inflation instead of dropped.
    • Previously: The IRS eyes casino winnings (Mar. 06 2015)
    • Related stocks: NYNY, FLL, DDE, OTCQB:TPCA, CHDN, CNTY, PNK, BYD, PENN, MCRI, MGM, CZR, UWN, LACO.
    | Tue, Mar. 10, 8:00 AM | 9 Comments
  • Fri, Mar. 6, 7:03 AM
    • The IRS is considering lowering the industry reporting level for casino winnings to $600 from $1,200.
    • Casino companies have 90 days to respond to the proposal from the tax agency.
    • A lowering of the reporting threshold would pile on extra costs for casinos, according to gaming officials.
    • Related stocks: NYNY, FLL, DDE, OTCQB:TPCA, CHDN, CNTY, PNK, BYD, PENN, MCRI, MGM, CZR, UWN, LACO.
    | Fri, Mar. 6, 7:03 AM | 17 Comments
  • Sat, Feb. 28, 11:57 AM
    • Casinos in Nevada saw a 7.75% increase in revenue to $953M during January, according to the Gaming Control Board.
    • Revenue on the Las Vegas Strip - dominated by MGM Resorts (NYSE:MGM), Caesars Entertainment (NASDAQ:CZR), and Wynn Resorts (NASDAQ:WYNN) - was up 15.4% Y/Y during the month.
    • Total revenue in Atlantic City rose 1% Y/Y in Jan. - although the tally improves to +19% if shuttered casinos are backed out.
    • Analysts say improved employment rates in the U.S. and lower gas prices ($2.04 avg in Jan.) helped to drive traffic, although an unusually high baccarat hold percentage in LV also played a factor there.
    • But perhaps the biggest driver of the Vegas momentum was the higher RevPAR churned up by hotels (see MGM's Q4) and a meaningful increase in convention business.
    • The strong attendance around the Consumer Electronics Show bodes well for major 2015 conventions, notes Macquarie Securities.
    • Earlier in the week, a strong report from Isle of Capri (NASDAQ:ISLE) helped to give a boost to regional casino stocks. Regionals have seen a steady increase in traffic over the last 6 months, although capacity concerns still impact some regions.
    • Previously: Regional casino stocks get a look as trends improve (Feb. 25)
    • Related casino industry stocks: NYNY, FLL, DDE, OTCQB:TPCA, CHDN, CNTY, PNK, BYD, SGMS, OTCPK:AMYGF, CACQ, PENN, MCRI
    | Sat, Feb. 28, 11:57 AM | 16 Comments
  • Thu, Feb. 5, 1:24 PM
    • The Restoration of America's Wire Act bill was re-introduced in Congress this week.
    • Supporters of the bill, which aims to ban online gambling, are testing the new climate in D.C. with the introduction.
    • Nevada, New Jersey, and Delaware are the only states to have established online gambling since the DOJ decision of 2011 on the issue.
    • Related stocks: OTCQB:TPCA, PNK, CZR, PENN, LVS, BYD, WYNN, MGM, MCRI, ISLE, CNTY, IGT.
    • Related ETFs: BJK
    | Thu, Feb. 5, 1:24 PM | 18 Comments
  • Oct. 28, 2014, 10:33 AM
    • The Nevada Gaming Board reports revenue for the Las Vegas Strip is down 4.8% Y/Y to $1.584B for the June-to-September period.
    • Las Vegas Strip gambling revenues fell 12% to $495M in September.
    • Related stocks: CZR, LVS, WYNN, MGM, BYD, OTCQB:TPCA.
    • Related ETF: BJK.
    | Oct. 28, 2014, 10:33 AM | 1 Comment
  • May 24, 2014, 3:39 PM
    • Revenue from online gaming continues to disappoint in New Jersey. The Internet win for April for major players Borgata (BYD, MGM), Caesars Interactive (CZR), Trump, and Golden Nugget came in at $11.4M - less than $11.8M brought in during March. Original forecasts called for a take of over $30M a month in 2014.
    • Easy access to illegal online gambling operators is thought to be reducing customer traffic. As a result, gaming companies are having a tough time capturing their investments as quickly as anticipated and are turning conservative.
    • Boyd Gaming says it will cut advertising after recording a $3.2M loss from its Internet gaming business in Q1, while 888 Holdings (EIHDF) is shifting ad dollars to slots.
    • The total gaming win in New Jersey (online and brick-and-mortar casinos) through April is down 1.2% to $874M. (Full report .pdf)
    • The impact on brick-and-mortar casino traffic from legalized online gaming has been negligible so far in Nevada as well.
    • Related: Online casinos face a hurdle from within the industry
    • Casino stocks: TPCA, PNK, PENN, LVS, WYNN, MGM, MCRI, ISLE, CNTY, IGT, BYI, PTEK, MGAM
    | May 24, 2014, 3:39 PM | 5 Comments
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Company Description
Tropicana Entertainment Inc. owns and operates eight casinos and resorts in Indiana, Louisiana, Mississippi, Missouri, Nevada, New Jersey and Aruba. The Company owns approximately 5,500 rooms, 8,000 slot positions and 300 table games. The company is based in Las Vegas, Nevada.
Sector: Services
Country: United States