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Tropicana Entertainment Inc. (TPCA)

- OTCQB
  • 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.
    | 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.
    | 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.
    | 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
    | 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
    | 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.
    | 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
    | 5 Comments
  • May. 21, 2014, 12:07 PM
    • The American Gaming Association has dropped support for legalizing online gambling after seeing some major divisions between members on how a roll-out should progress.
    • Casino heavyweights have bickered over what the regulatory framework should be for the industry.
    • Though the launch of online gambling in Nevada, New Jersey, and Delaware hasn't gone as well as expected with offshore operators still dominating, Morgan Stanley forecasted the legal online gambling market could reach $8B a year by 2020.
    • Related stocks: TPCA, PNK, CZR, PENN, LVS, BYD, WYNN, MGM, MCRI, ISLE, CNTY, IGT, BYI, PTEK, MGAM
    • Related ETFs: BJK
    | 7 Comments
  • Jan. 2, 2014, 8:57 AM
    • Casino stocks should be approached with an air of caution in 2014 after the sector ran up some gaudy gains in 2013 to stretch out valuation, warns Hedgeye's Todd Jordan.
    • Though online gambling in the U.S. and new opportunities in Singapore and Japan provide plenty of upside potential for the industry, a cooling-off period for some red-hot names could be seen until visibility clears on the new revenue streams.
    • The long-term potential for both regional and global casino stocks still looks very bright, according to most analysts.
    • Related stocks: TPCA, PNK, CZR, PENN, LVS, BYD, WYNN, MGM, MPEL, MCRI, ISLE, CNTY,
    • Related ETF: BJK
    | Comment!
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Company Description
Tropicana Entertainment Inc. owns and operates nine casinos and resorts in Indiana, Louisiana, Mississippi, Nevada and New Jersey. The Company owns approximately 6,000 rooms, 9,000 slot positions and 250 table games. In addition, the Company owns a development property in Aruba. The company is... More
Sector: Services
Country: United States