With racinos a done deal in Ohio, a suddenly frisky Harrah’s Entertainment is shopping around for a Cleveland-area track. If anything, I’m surprised competing companies haven’t beaten Harrah’s to the punch, but it seems to have sucker-punched its rivals. Good on it.
Donald Trump’s fire-sale acquisition of Trump Entertainment Resorts is far from a done deal, according to the Wall Street Journal. Bondholders who stand to have $1.25 billion flushed away in the Trump/Mark Juliano sweetheart transaction may be able to throw in a spanner in the works.
Casinos spread the wealth — or do they? A Journal of Economic Studies report queries the premise, saying casino expansion dilutes local wage bases. However, casino companies — and some academic allies — aren’t taking this lying down. Both Penn National and Cordish Gaming are making vigorous arguments to the contrary, as is one Frank J. Fahrenkopf.
