{"id":267448,"date":"2023-04-04T12:21:23","date_gmt":"2023-04-04T17:21:23","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=267448"},"modified":"2023-04-05T12:08:43","modified_gmt":"2023-04-05T17:08:43","slug":"black-hawk-casino-market-emerging-as-regional-gaming-leader","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/black-hawk-casino-market-emerging-as-regional-gaming-leader\/","title":{"rendered":"Black Hawk a Casino Market to Be Bullish On, Analyst Says"},"content":{"rendered":"

The population of Black Hawk, Colo. is just 128, less than half what it was in 1999. But the casino market in the town located about 35 miles west of Denver is flourishing.<\/p>\n

\"Black
The Monarch Black Hawk Casino in Colorado. Black Hawk’s casino market is booming. (Image: CBS Denver<\/em>)<\/figcaption><\/figure>\n

While it\u2019s the smallest town in Colorado, Black Hawk is home to the state\u2019s largest gaming scene — one that ranks as the 10th-largest and as the fastest-growing in the US. As such, there are investment implications, because four Black Hawk operators are publicly traded companies. In alphabetical order, they are Bally\u2019s (NYSE: BALY), Caesars Entertainment (NASDAQ: CZR<\/a>), Monarch Casino & Resort (NASDAQ: MCRI), and Penn Entertainment (NASDAQ: PENN).<\/p>\n

In a recent report, Stifel analyst Jeffrey Stantial said Black Hawk trends impressed in the first quarter, and the town compares favorably against other regional casino markets.<\/p>\n

All operators cited stable\/healthy demand trends YTD, with no signs of pullback when drilling in by income or age cohort. Black Hawk market-wide growth continues to outpace the broader regional same-store average,\u201d<\/strong> noted the analyst.<\/p><\/blockquote>\n

He has \u201cbuy\u201d ratings on Caesars and Monarch, and \u201chold\u201d grades on Bally\u2019s and Penn Entertainment.<\/p>\n

Tailwinds, Headwinds for Black Hawk Casino Market<\/h2>\n

Black Hawk\u2019s casino market has some structural advantages, including Colorado\u2019s fast-growing population and a policy that went into effect in 2021 that allows gaming operators to offer more table games with higher limits.<\/p>\n

\n

On Election Day 2020, Colorado voters approved Amendment 77. That set the stage for Black Hawk, Central City, and Cripple Creek gaming towns to ditch the prior $100 per hand cap on table game bets. On Tuesday, the Black Hawk City Council approved an ordinance permitting no restrictions on bets placed on blackjack, craps, roulette, and related fare.<\/p>\n<\/div>\n

Analysts believe the higher table limits will allow Black Hawk casinos<\/a> to keep more local bettors in the town and away from Las Vegas, while potentially converting more day visitors into overnight guests. On the other hand, Black Hawk operators face headwinds, such as a shallow labor pool, the need to pay premium wages, and high inflation.<\/p>\n

\u201cGiven these constraints, most properties are forced to rely on costly temp agencies to varying degrees. Outside of labor, utilities costs have been prone to flare-ups, with water a uniquely impactful expense, given local supply constraints. Planned nongaming developments will likely further add to [the] demand for water, and drive up costs. Lastly, food costs were cited as a headwind, with the market-leading assets (Monarch; Ameristar) anecdotally more aggressive in passing through inflation via pricing,\u201d added Stantial.<\/p>\n

Monarch: Black Hawk Casino Standout<\/h2>\n

Monarch Casino\u2019s namesake Black Hawk property<\/a> is the freshest integrated resort in the town and one of the highest-tier casino-hotels in any of the three Colorado gaming towns.<\/p>\n

Obviously, that property benefits Monarch the most, particularly considering the company owns just two casinos. But it also provides modest boosts to some Black Hawk rivals.<\/strong><\/p>\n

\u201cGiven the quality of the product, pricing power remains robust. Given MCRI’s hotel pricing strategy, forthcoming room renovations at Ameristar will likely translate to higher ADR for Monarch as well. For PENN, Ameristar continues to capture spillover from Monarch as the second-largest property in the market,\u201d concluded Stantial.<\/p>\n","protected":false},"excerpt":{"rendered":"

The population of Black Hawk, Colo. is just 128, less than half what it was in 1999. But the casino market in the town located about 35 miles west of Denver is flourishing. While it\u2019s the smallest town in Colorado, Black Hawk is home to the state\u2019s largest gaming scene — one that ranks as […]<\/p>\n","protected":false},"author":46,"featured_media":153291,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,33810],"tags":[81897,81903,81898],"acf":[],"yoast_head":"\nBlack Hawk Casino Market Emerging As Regional Gaming Leader<\/title>\n<meta name=\"description\" content=\"Black Hawk casino market rapidly growing with plenty of tailwinds.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/black-hawk-casino-market-emerging-as-regional-gaming-leader\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Black Hawk Casino Market Emerging As Regional Gaming Leader\" \/>\n<meta property=\"og:description\" content=\"Black Hawk casino market rapidly growing with plenty of tailwinds.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/black-hawk-casino-market-emerging-as-regional-gaming-leader\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-04T17:21:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-05T17:08:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/10\/mcri.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/black-hawk-casino-market-emerging-as-regional-gaming-leader\/\",\"url\":\"https:\/\/www.casino.org\/news\/black-hawk-casino-market-emerging-as-regional-gaming-leader\/\",\"name\":\"Black Hawk Casino Market Emerging As Regional Gaming Leader\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/black-hawk-casino-market-emerging-as-regional-gaming-leader\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/black-hawk-casino-market-emerging-as-regional-gaming-leader\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/10\/mcri.jpg\",\"datePublished\":\"2023-04-04T17:21:23+00:00\",\"dateModified\":\"2023-04-05T17:08:43+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Black Hawk casino market rapidly growing with plenty of tailwinds.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/black-hawk-casino-market-emerging-as-regional-gaming-leader\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/black-hawk-casino-market-emerging-as-regional-gaming-leader\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/black-hawk-casino-market-emerging-as-regional-gaming-leader\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/10\/mcri.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/10\/mcri.jpg\",\"width\":1600,\"height\":900,\"caption\":\"The Monarch Black Hawk Casino in Colorado. Black Hawk's casino market is booming. (Image: CBS Denver)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/black-hawk-casino-market-emerging-as-regional-gaming-leader\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Commercial Gaming\",\"item\":\"https:\/\/www.casino.org\/news\/commercial-gaming\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Black Hawk a Casino Market to Be Bullish On, Analyst Says\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Black Hawk Casino Market Emerging As Regional Gaming Leader","description":"Black Hawk casino market rapidly growing with plenty of tailwinds.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/black-hawk-casino-market-emerging-as-regional-gaming-leader\/","og_locale":"en_US","og_type":"article","og_title":"Black Hawk Casino Market Emerging As Regional Gaming Leader","og_description":"Black Hawk casino market rapidly growing with plenty of tailwinds.","og_url":"https:\/\/www.casino.org\/news\/black-hawk-casino-market-emerging-as-regional-gaming-leader\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2023-04-04T17:21:23+00:00","article_modified_time":"2023-04-05T17:08:43+00:00","og_image":[{"width":1600,"height":900,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/10\/mcri.jpg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/black-hawk-casino-market-emerging-as-regional-gaming-leader\/","url":"https:\/\/www.casino.org\/news\/black-hawk-casino-market-emerging-as-regional-gaming-leader\/","name":"Black Hawk Casino Market Emerging As Regional Gaming Leader","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/black-hawk-casino-market-emerging-as-regional-gaming-leader\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/black-hawk-casino-market-emerging-as-regional-gaming-leader\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/10\/mcri.jpg","datePublished":"2023-04-04T17:21:23+00:00","dateModified":"2023-04-05T17:08:43+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"Black Hawk casino market rapidly growing with plenty of tailwinds.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/black-hawk-casino-market-emerging-as-regional-gaming-leader\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/black-hawk-casino-market-emerging-as-regional-gaming-leader\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/black-hawk-casino-market-emerging-as-regional-gaming-leader\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/10\/mcri.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/10\/mcri.jpg","width":1600,"height":900,"caption":"The Monarch Black Hawk Casino in Colorado. Black Hawk's casino market is booming. (Image: CBS Denver)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/black-hawk-casino-market-emerging-as-regional-gaming-leader\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Commercial Gaming","item":"https:\/\/www.casino.org\/news\/commercial-gaming\/"},{"@type":"ListItem","position":3,"name":"Black Hawk a Casino Market to Be Bullish On, Analyst Says"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/267448"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=267448"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/267448\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/153291"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=267448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=267448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=267448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}