Author: David Mckee

Posted on by — Leave a comment

You can’t fix stupid; Good-bad news on the bayou

You can't fix stupid; Good-bad news on the bayou

We live in an era of “alternative facts” and “false flag” narratives and, boy, are we the worse for it. It was only a matter of time before the gaming industry was on the receiving end of “false facts” and it’s happening, quite unfairly, to Bally’s Casino in Chicago. No, not the permanent megaresort that’s to go up on the city’s west side. We’re talking about Medinah Temple (above), best known as the former hangout of the Shrine Circus and venue for many of the best-sounding Chicago Symphony Orchestra recordings. What it isn’t—and never has been—is a mosque. But don’t let the truth stop a bunch of casino-hating, Islamic fanatics.

Continue reading You can’t fix stupid; Good-bad news on the bayou
Posted on by — Leave a comment

If you can’t beat ’em, cheat ’em; Fun & games

No, this isn’t about politics. Or maybe it is. Either way, it’s another chapter in the crony-capitalism, juiced-in deal Washington, D.C.’s puppet government made with Intralot. Along with the Washington D.C. Lottery, Intralot is parent of that malign progeny GamebetDC. The latter recently changed its rules, suddenly imposing bet limits. It claimed to be motivated by problem-gambling worries. The real reason turns out to be that sharps were finding weaknesses in GamebetDC and using them to beat the system at sports wagers. Good for them! Not good enough for our nation’s capital, however …

Continue reading If you can’t beat ’em, cheat ’em; Fun & games
Posted on by — Leave a comment

Pennsylvania soggy; Epic fail in North Carolina

At first blush, Pennsylvania‘s gambling economy looks all right, up 1% from August of 2019 and 2% from last year. But factor in the plethora of new casinos that have entered the fray and the Keystone State is down 14% from 2019. Clearly, more casinos does not equal more money. At least not if you’re casino owner. For a tax collector it’s a different story. Not even a 5% uptick in table game winnings (or losses, if you happen to be a player) could paint a smiley face on the portrait, despite $286 million in casino win.

Despite being absolutely flat in revenue, Parx Casino held onto its top spot with $50 million in takings. Wind Creek Bethlehem made a brave run at statewide supremacy in July but had to content itself with $45 million and a 10.5% upsurge. Only a few dollars separated Rivers Philadelphia (pictured, +10%) from Philadelphia Live (+4%), deadlocked at $19 million in their seesaw struggle for downtown supremacy. Harrah’s Philadelphia tumbled 15% but remained ahead of upstart Valley Forge Resort (-4%), $12 million to $11 million. To the west, Rivers Pittsburgh (+4.5%) regained market share for $29 million, outpacing Hollywood Meadows ($17 million, +5%) and Pittsburgh Live ($9 million, +1.5%).

Continue reading Pennsylvania soggy; Epic fail in North Carolina
Posted on by — 3 Comments

Sibella scandal spreads; Supremes forestall Seminoles

Flinging Resorts World Las Vegas CEO Scott Sibella to the wolves might not have saved Genting Group‘s bacon—and may have inflicted collateral damage on MGM Resorts International. According to the New York Post, the Sibella revelations have upset the once-universal assumption that Resorts World New York and MGM Empire City were juiced into casino licenses when ones for the New York City area are (eventually) awarded. Contacted by the Post, Genting elaborated on its previous comments in re Sibella by saying that he was given the chop for  “failing to disclose certain information required under company policies.” Which deepens the mystery rather than explaining it. Genting’s gnomic statement was not elaborated upon.

Although the Post thinks Genting, by scapegoating Sibella, is out of the woods, new evidence (see below) suggests otherwise. The paper continues, “The picture may be more complicated for MGM, which now may have questions to answer about what happened on Sibella’s watch several years ago.” That’s as it should be … but why would Resorts World, where the malfeasances were more recent, get a free pass? “Ethics is going to be a huge deal in deciding who gets the licenses,” said a Post source. “The ethics and the relationships with the communities where they are putting their casinos is where this is going to be fought and won.”

Continue reading Sibella scandal spreads; Supremes forestall Seminoles
Posted on by — Leave a comment

Atlantic City rebounds; Sibella dumped; NFL suspicions

Dueling pianos amuse the oldsters at Ocean Casino Resort

Casinos in Atlantic City were up 2% in August, reaching $280 million. Slot winnings were 3% higher, on a commensurate increase in coin-in. The gambling halls weren’t so lucky at the tables, where 5% higher wagering translated into flat win. There were a few have-nots, with Bally’s Atlantic City ($15 million), Tropicana Atlantic City ($25 million) and Resorts Atlantic City ($17.5 million) all slipping 4.5%, while Harrah’s Resort ($24.5 million) ceded 2%. Both Hard Rock Atlantic City ($51 million, +11%) and Ocean Casino Resort ($39.5 million, +8%) were turbocharged, and put even further distance between themselves and the Caesars Entertainment threesome. The only one of the latter to post a gain was Caesars Atlantic City ($22 million), up 1.5%. Borgata, of course, was the dominant property with $73 million to its name, a 1.5% uptick. Golden Nugget remained stuck in last place with $13 million but also gained 1.5%.

Continue reading Atlantic City rebounds; Sibella dumped; NFL suspicions
Posted on by — 1 Comment

MGM limping back; Atlantic City follies; Wall Street Jottings

Another KNPR-FM listener

Hobbling back onto the Web today, MGM Resorts International offered a limited version of its normal Internet service. You can do research for your next MGM stay but you can’t book it directly or access MGM Rewards, as of 10 a.m. Our man in Atlantic City confirms that, at noon, he found Borgata‘s reservation system to still be defunct. Borgata was able to contact customers to inform them that four promotional events were being postponed. During yesterday’s edition of State of Nevada, someone identifying themselves as an MGM employee called into say that direct deposits of worker paychecks (due Wednesday) were two days overdue and if there was further delay there would also be “trouble.” (A walkout?) Either CEO Bill Hornbuckle or one of his lieutenants evidently was listening, as Hornbuckle contacted the local dead tree of record to say that paychecks would be issued today. As of lunchtime nobody has made a liar of him. (Speaking of the Las Vegas Review-Journal, it duly tried to spin the crash of Las Vegas Grand Prix hotel rates as nothing much.)

Continue reading MGM limping back; Atlantic City follies; Wall Street Jottings
Posted on by — Leave a comment

On and off the radio

During this morning’s stint on KNPR-FM‘s State of Nevada, we were only able to cover a fraction of the scheduled questions. So we had the idea of answering here what was not asked there. Let’s take it away …

Why do you think hackers targeted a major casino company over, say, any other multibillion-dollar company?

Because, as Willie Sutton famously said, “That’s where the money is.”

What MGM Rewards member data might the hackers be so interested in?

What aren’t they interested in? Every bit of personal data that they can get their grubby mitts onto. If we were an MGM Rewards member, we’d be changing computer passwords, etc., nonstop today.

Continue reading On and off the radio
Posted on by — 2 Comments

MGM crippled; Illinois & Indiana report; Bally’s shaky in Chi

Different day, same story for MGM Resorts International, brought to its knees by a cbyer-assault of still-unknown provenance. The FBI has been brought in although, per standard operating procedure, the G-Men aren’t commenting on what went down. MGM is daintily referring to the attack as a “cyber issue,” but its 28 casinos nationwide may face a long road back to recovery. UNLV‘s Yoowhan Kim is of the firm opinion that it was a ransomware raid that MGM was asked for “several million dollars” to resolve the ‘issue,’ one that may have been years in the making. Kim delicately implies that a cost/benefit analysis will come down in favor of paying up.

Continue reading MGM crippled; Illinois & Indiana report; Bally’s shaky in Chi
Posted on by — 1 Comment

MGM paralyzed; DraftKings debacle; Mount Airy wins

In a new kind of September 11 attack, MGM Resorts International was felled by a massive cybersecurity breach. From disabling digital room keys to kneecapping credit card systems (forcing transactions to be made in cash), it sent MGM back to the mid-20th century. The company Web site had to be taken offline, internal communications were disrupted and—worst of all for some—slot machines were silenced by the thousands. The higher the tech, the worse the vulnerability. For once, nostalgia for Olde Vegas was justified. The Cosmopolitan of Las Vegas was spared because it hasn’t been fully integrated into MGM’s master systems yet.

Continue reading MGM paralyzed; DraftKings debacle; Mount Airy wins
Posted on by — 1 Comment

Bally’s opens, Chicago yawns; MGM, tree murderers

Chicago‘s first casino opened to “dozens of people” Saturday. Only dozens? That’s not a good sign for Bally’s Corp. It’ll need to stir up a lot more excitement than that if it’s to make back its nut on $1.7 billion Bally’s Chicago. If Chicagoans couldn’t be bothered to get out of bed for the 8 a.m. debut of a casino conveniently located at Medinah Temple, what does that bode for the megaresort, three years hence? Then again, nobody ever went broke with customers like the gullible group of gamblers who exclaimed, “We’re seniors … We’re in there to get this money.” Still, the images of the early morning opening were distinctly underwhelming. We expected better, frankly.

Continue reading Bally’s opens, Chicago yawns; MGM, tree murderers