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Tropicana Entertainment Inc. (TPCA)

- OTCQB
  • 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
    | 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).
    | 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.
    | 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.
    | 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 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