Tropicana Entertainment Inc. (TPCA) - OTCQB
  • Fri, Jul. 1, 8:58 AM
    • Tentative labor agreements have lifted the threat of strikes at three Atlantic City casinos owned by Caesars Entertainment (NASDAQ:CZR) and from the Tropicana Casino and Resort (OTCQB:TPCA), but there is no new deal yet for the Trump Taj Mahal.
    • Unite Here, which represents cooks, cleaners, servers and other uniformed casino workers, announced tentative deals yesterday with Bally’s Atlantic City Hotel and Casino, Harrah’s Resort Atlantic City, and Caesars Atlantic City Hotel and Casino.
    • Talks continue between the union and the Trump Taj Mahal, which faces a deadline today to reach agreement on a new contract or face a walkout.
    | Fri, Jul. 1, 8:58 AM
  • Thu, Jun. 9, 2:45 PM
    • Casino operators continue to find new ways to generate sales with gaming revenue under some pressure. The last round of quarterly reports from the sector indicated strong RevPAR numbers which means the hotel and restaurant side of the business is working well.
    • A scan of Nevada gaming data over a 12-month period (5/1/15-4/30/16) might reveal some broader trends across the U.S. as the millennial generation factors into the equation.
    • Nevada games and table win revenue -4.03% to $4.096B. Win percentage 13.14% vs. 12.60% for the preceding year. Baccarat and roulette fell off during the one-year period, while craps and new games contributed positively.
    • Slot machine win revenue +2.8% to $7.013B. Win percentage 6.56% vs. 6.45% for the preceding year. Revenue from penny slots was up 7% Y/Y.
    • Sports betting revenue growth: Football -2%; Baseball +79%; Basketball +17%; Parlays -34%.
    • Sports betting win % comparisons: Football 5.4% vs. 5.5% prior; Baseball 4.3% vs. 3.1% prior; Basketball 5.2% vs. 5.1% prior; Parlays 26%. vs. 39% prior.
    • Source: Nevada Gaming Control Board reports
    • Related stocks: LVS, MGM, WYNN, FLL, CZR, BYD, ISLE, DRII, PNK, PENN, NYNY, OTCQB:TPCA, ERI.
    • Related ETF: BJK.
    | Thu, Jun. 9, 2:45 PM | 3 Comments
  • Wed, Mar. 2, 12:14 PM
    • Carl Icahn warns he won't invest $100M in the Trump Taj Majal property in Atlantic City if New Jersey gives a green light to casinos in the northern part of the state. Lawmakers in New Jersey want to put the issue to the voters in a referendum as part of the election in November.
    • The Taj Mahal emerged out of bankruptcy last Friday to fall into the hands of Icahn. Tropicana Entertainment (OTCQB:TPCA), which is majority-owned by Icahn Enterprises (NASDAQ:IEP), will manage the casino complex.
    • Previous Taj owner Donald Trump is only tied to the property through his name, although he is friends with Icahn and tips that the investment legend will be "in charge of China" if he wins the presidency. Trump opponents have dragged out the Taj bankruptcy as a campaign talking point.
    • New Jersey Governor Chris Christie is somewhere in the middle of the issue after publicly supporting the casino referendum, but also showing up as Trump's warm-up act at political events (see #FreeChrisChristie on Twitter).
    • The direction of the northern New Jersey casino projects also has bearing on MGM Resorts (NYSE:MGM), Caesars Entertainment (NASDAQ:CZR), and Boyd Gaming (NYSE:BYD).
    • Tropicana/Trump Taj Mahal PR
    | Wed, Mar. 2, 12:14 PM | 11 Comments
  • Sat, Feb. 20, 11:05 AM
    • The U.S. casino industry is looking at ways to attract more millennials as baby boomer traffic begins to soften. The addition of fitness centers, spas, and a stronger sports book/sports bar presence with more betting options are seen as ways to increase visits by the younger demographic.
    • Companies are also edging closer to adopting skills-based gambling machines as a way to lure in millennials who aren't enchanted with traditional slot machines. Nevada and New Jersey already have regulations in place, while at least six other states are looking seriously at the issue.
    • The next-gen slot machines could incorporate well-known games such as Angry Birds or Guitar Hero, as well as retro versions of Pac Man and Space Invaders.
    • What to watch: One category that is a known winner for attracting huge millennial interest is daily sports fantasy games. Whether it plays out in Washington D.C. or through the courts, casinos could carve out a large piece of that pie in the future.
    • Related stocks: LVS, MGM, WYNN, FLL, CZR, BYD, ISLE, DRII, PNK, PENN, NYNY, OTCQB:TPCA, ERI,
    • Related ETF: BJK.
    | Sat, Feb. 20, 11:05 AM | 30 Comments
  • Mon, Feb. 1, 3:27 PM
    • Tropicana Entertainment (OTCQB:TPCA) is sinking $25M into its Atlantic City casino this year for renovations.
    • Slated for upgrades are rooms in the Havana Tower and the casino floor at the South Tower.
    • The casino operator spent about $50M in renovations last year.
    • Icahn Enterprises (NASDAQ:IEP) owns a sizable stake in Tropicana.
    | Mon, Feb. 1, 3:27 PM | 1 Comment
  • Tue, Jan. 26, 1:38 PM
    • The U.S. casino business could generate revenue up to $93B by 2020 as growth picks up, according to a forecast by Technavio.
    • The upside could be higher for regional casinos which aren't battling to offset the loss of VIP baccarat revenue like Las Vegas operators, although Strip revenue is still seen besting 2015 totals.
    • Forecasts for Macau have been cautious due to the carnage in Chinese equity markets, although analysts note the sector will run up against soft comparables for at least the first part of the year. New openings on the Cotai Strip are expected to bring in new international visitors.
    • Related stocks: ISLE, PENN, PNK, BYD, GLPI, CHDN, MCRI, OTCQB:TPCA, CNTY, ERI, NYNY, DDE, UWN, FLL, CZR, CACQ, MGM, LVS, WYNN, MPEL, OTCPK:SJMHY, OTCPK:GXYEF.
    | Tue, Jan. 26, 1:38 PM | 6 Comments
  • Tue, Jan. 19, 2:18 PM
    • Some casino operators in Missouri would like to amend a state law which allows high rollers to borrow funds through lines of credit.
    • The companies would like to lower the borrowing threshold from $10K to make it applicable to more customers.
    • The current law gives non-intoxicated customers 30 days to repay casino loans interest-free.
    • Gaming companies with a presence in Missouri include Caesars Entertainment (NASDAQ:CZR), Pinnacle Entertainment (NASDAQ:PNK), Isle of Capri (NASDAQ:ISLE), Affinity Gaming, Tropicana Entertainment (OTCQB:TPCA), and Gaming and Leisure Properties (NASDAQ:GLPI).
    | Tue, Jan. 19, 2:18 PM
  • Dec. 30, 2015, 9:24 AM
    • The elevated level of consolidation in the gaming sector is expected to continue in 2016 as companies look to scale up amid margin pressure.
    • Analysts think 888 Holdings (OTCPK:EIHDF) and William Hill (OTC:WIMHF, OTCPK:WIMHY) could rekindle their merger talks.
    • Betsson (OTCPK:BTSNF) is seen combining with Malta-based Unibet.
    • Mega-mergers are given a longer shot by analysts despite persistent chatter over Wynn Resorts (NASDAQ:WYNN), MGM Resorts (NYSE:MGM), and Las Vegas Sands (NYSE:LVS). Some names to watch for M&A buzz include Full House Resorts (NASDAQ:FLL), Amaya (NASDAQ:AYA), Tropicana Entertainment (OTCQB:TPCA), Entertainment Gaming (NASDAQ:EGT), Eldorado Holdings (NASDAQ:ERI), Ladbrokes (OTCPK:LDBKY), Boyd Gaming (NYSE:BYD), Isle of Capri (NASDAQ:ISLE), and Golden Entertainment (NASDAQ:GDEN). A wildcard in the mix is Caesars Entertainment (NASDAQ:CZR) which is mired in legal quagmire, but has some strong properties in its stable if it can clear bankruptcy intact.
    • Place your 2016 gaming merger bet in the comment stream.
    • Related ETF : BJK.
    | Dec. 30, 2015, 9:24 AM | 6 Comments
  • Dec. 28, 2015, 12:02 PM
    • A report out from JPMorgan indicates room rates on the Las Vegas Strip are on the rise.
    • The investment firm forecasts room rates out to the end of Q1 of 2016 to be up 8%.
    • Strong room rates are forecast for Caesars Entertainment (+17%), Las Vegas Sands (+13%), Wynn Resorts (+9%) - while room rates are seen as flat for MGM Resorts (NYSE:MGM) across properties.
    • Domestic traffic to Las Vegas Strip casinos has been stable this year, while high-roller baccarat traffic from Asia has dwindled.
    • Related stocks: LVS, WYNN, MGM, CZR, OTCQB:TPCA, BYD.
    | Dec. 28, 2015, 12:02 PM | 10 Comments
  • Nov. 30, 2015, 11:08 AM
    • Gaming revenue on the Las Vegas Strip fell 5.1% to $494M in October, according to data from the Gaming Control Board.
    • Statewide gaming revenue was off 2.9% to $888M.
    • Weak numbers for baccarat have plagued Las Vegas operators this year with high rollers from China in shorter supply. Most analysts think that trend will continue.
    • Related stocks: LVS, MGM, WYNN, FLL, CZR, BYD, OTCQB:TPCA.
    • Related ETF: BJK.
    | Nov. 30, 2015, 11:08 AM | 11 Comments
  • Sep. 30, 2015, 12:19 PM
    • Gaming revenue in Nevada fell 1.4% to $908.2M in August to mark the third straight month of a declining tally.
    • Las Vegas Strip revenue was down 4.66% to $527.4M as the weak baccarat trend continued. Strip slot revenue was higher during the month, while table game revenue fell.
    • Fiscal YTD revenue (7/31-8/1): Nevada -1.17% to 1.831B; Las Vegas Strip -3.40% to 1.052B.
    • Gaming Control Board report
    • Related stocks: LVS, MGM, WYNN, FLL, CZR, BYD, OTCQB:TPCA.
    • Related ETF: BJK.
    | Sep. 30, 2015, 12:19 PM | 19 Comments
  • Sep. 19, 2015, 12:03 PM
    • A new joint venture between a consortium led by China Railway and Xpress West Enterprises plans to build a bullet train from Los Angeles to Las Vegas.
    • The agreement is an important victory for China Railway which edged out Japan's JR Central for the contact just ahead of China President Xi Jinping’s important state visit to the U.S.
    • Construction on the $100M project could start as soon as next year. The high-speed train is expected to reduce L.A.-Vegas travel time to 80 minutes from a driving time on four to six hours (peak time) - a development seen as boosting weekend visitors to Sin City.
    • Related stocks: LVS, MGM, WYNN, FLL, CZR, BYD, OTCQB:TPCA.
    | Sep. 19, 2015, 12:03 PM | 61 Comments
  • Sep. 18, 2015, 7:52 AM
    • The Nevada Gaming Commission approved a set of rules to allow a new category of games which mix skill and chance.
    • The aim of industry players is to introduce hybrid slot machines which appeal to millennials by incorporating skills such as knowledge of trivia, strategic thinking, or dexterity. Traditional slot machines haven't been popular with millennials in general.
    • Related stocks: CZR, WYNN, SGMS, ISLE, PNK, PENN, MCRI, CNTY, IGT, MGM, BYD, OTCQB:TPCA, ATVI, TTWO, EA.
    • Related ETFs: BJK
    | Sep. 18, 2015, 7:52 AM | 8 Comments
  • Aug. 31, 2015, 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.
    | Aug. 31, 2015, 5:12 PM | 16 Comments
  • Aug. 25, 2015, 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.
    | Aug. 25, 2015, 2:00 PM | 6 Comments
  • Aug. 20, 2015, 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.
    | Aug. 20, 2015, 12:32 PM | 18 Comments
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
Industry: Personal Services
Country: United States