Been a while since we've done one of these. Kinda of slow on the casino beat these days. Oh, and Easter got in the way. In fact, all of Holy Week. St. Patrick's Day, too. And we had a dinner party that we absolutely could not get out of. Got sidetracked over at Early Returns. Did I mention Easter? Dang, yeah, I thought so.

On with the show.

... Consumer confidence is down. Homes sale prices are down. John McCain says the American economy is in "crisis." But casinos? Recession-proof:

"At least somebody's making money during the current economic slump. According to a recent report, slot machines at Philadelphia Park Casino in Bensalem are generating profits that are the highest among casinos in the eastern United States. The report from Spectrum Gaming Group, an international gaming consultant, indicates Philadelphia Park's slots earn a daily average of $395. That's an annual average of $144,175 a year on each of the casino's 2,703 slot machines. When you do the math, it comes out to a total average annual earning of more than $3.89 million."

See? Told ya. Recession-proof.

Except ...

"In a town enthralled with its own mythology, Las Vegas would like to hold on to one myth in particular these days: Gambling is recession proof. It's conventional wisdom characteristic of a city and an industry far more accustomed to boom than bust, but it's just not true, experts say. Gamblers, whether motivated by compulsion or hope, don't necessarily double down when the economy spirals and belts tighten. 'It's an old idea that has very little relevance and maybe no relevance to the United States today,' industry analyst Eugene Christiansen said. Christiansen and others trace the notion to decades old economic research conducted when gamblers' options in the U.S. were limited to horse racing and a handful of Nevada resorts. Such tight supply ensured demand for gambling was steady."

Problem is, demand might soon be exceeded by the sheer supply of racetracks and slot machines.

Battle of Gettysburg

It's a major award! Why, it could even be a bowling alley!

"Endless meetings didn't do it. What may have seemed like countless hearings didn't either. Even the influence of powerful opponents couldn't deter the members of No Casino Gettysburg from protesting a proposal to build a casino near the Gettysburg National Military Park. [That] determination and persistence is why the National Parks Conservation Association chose to honor the grass-roots organization Wednesday with its Marjory Stoneman Douglas Award, which is awarded once a year to groups or individuals who advocate and fight for the protection of the National Park System. (Douglas was a lifelong advocate for Everglades National Park.)"

No bowling alley, no leg lamp, but a $2,500 check.

Notes from the AC

A year ago at this time, the Casino Journal was telling you how Atlantic City casinos were planning some major expansions and renovations to better compete with Pennsylvania's racetracks and slots parlors. (At least, I assume the Casino Journal told you about this. It would have been irresponsible not to.)

Today? Not so much:

"Even before the recent demise of Wall Street investment firm Bear Stearns & Co. Inc., casino operators were beginning to wonder about financing for their dream developments in this gambling town. To some, the cost of entering the nation's second-largest gambling market was no longer within reach - something unexpected two years ago when three operators announced they were buying land here. 'Now is one of the worst times to raise capital because lenders are willing to lend less, and the cost of capital is significantly more expensive than it was a year ago,' said gambling analyst Andrew Zarnett of Deutsche Bank AG in New York. 'For Atlantic City, it means delays.' Last month, Dan Lee, chief executive officer of Pinnacle Entertainment Inc. of Las Vegas, announced that it was holding off on building a $1.5 billion gambling palace - the one being teased by five billboards along the Atlantic City Expressway."

Odds and ends

Maine: We want casinos too, darn it! ... Kentucky: We want casinos too, darn it! ... San Diego: We want casinos too, darn it! ... For every action, there is an equal and opposite reaction: "Expansion at a Rhode Island casino is drawing revenue away from Connecticut's two tribally owned casinos, according to a report released Sunday." ... Here's why Don Barden and others fight so hard to preserve smoking sections in their casinos: "The Casino Queen's business is down, and it blames Illinois' smoking ban. [Business] has declined since Jan. 1 when the state's ban on smoking in public places took effect.'It's been devastating,' said casino manager Tom Monaghan." ... Labor groups had a nice winning streak last year, casino-wise, but lost a big game in New England this month.

See you soon ...