Author Archives: David McKee

About David McKee

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Looking for change in Illinois; Copperfield goes “Poof!”

Posted on April 19, 2018 by David McKee

Grand Victoria is such small potatoes in the MGM Resorts International portfolio that the Elgin riverboat’s management used to be farmed out to co-owner Hyatt Gaming (since succeeded by the Pritzker family’s RBG). The Elgin City Council is hoping that … Continue reading →

Posted in Arizona, California, Charity, Donald Trump, Eldorado Resorts, Entertainment, Environment, Illinois, MGM Mirage, Slot routes, Taxes, Transportation, Tribal | Comments Off on Looking for change in Illinois; Copperfield goes “Poof!”

Caesars branches out; Atlantic City’s apron strings loosened

Posted on April 18, 2018 by David McKee

Caesars Entertainment CEO Mark Frissora is beginning to put his stamp on the company (unless you count imposing parking fees and that was just copying MGM Resorts International.) Caesars has announced a joint venture with Meras Holding to build and … Continue reading →

Posted in Animals, Atlantic City, California, Dubai, Environment, Harrah's, International, Politics, Tribal | 2 Comments

Quote of the Day

Posted on April 17, 2018 by David McKee

“Since you can’t take it with you the IRS removes the temptation.” — quip on the marquee of a Methodist church in Augusta, Georgia.

Posted in Current, Georgia, Taxes | Comments Off on Quote of the Day

Japan “better than feared.” Mixed bag in Louisiana

Posted on April 17, 2018 by David McKee

How do evolving casino casino regulations in Japan look? Well, how does ‘not as bad as expected’ sound? Trust me, that’s good news. And don’t take my word: Take that of Morgan Stanley. Taxes will be set at 30%, which … Continue reading →

Posted in Boyd Gaming, Churchill Downs, Dan Gilbert, Detroit, Eldorado Resorts, Florida, Galaxy Entertainment, GLPI, Harrah's, Isle of Capri, Japan, Louisiana, Marijuana, Massachusetts, MGM Mirage, Nevada, Penn National, Philippines, Pinnacle Entertainment, Politics, Sheldon Adelson, Taxes, Tilman Fertitta, Tropicana Entertainment, Wall Street | Comments Off on Japan “better than feared.” Mixed bag in Louisiana

Icahn out, Eldorado in; Caesars balks at Hoosier fee

Posted on April 16, 2018 by David McKee

Carl Icahn was in a selling mood last weekend, cashing out of Tropicana Entertainment. The buyer was Eldorado Resorts, which paid Icahn $1.85 billion, then flipped nearly all the physical assets to Gaming & Leisure Properties for $1.2 billion. Not content … Continue reading →

Posted in Ameristar, Atlantic City, Carl Icahn, Centaur Gaming, Charity, Dining, Eldorado Resorts, Florida, GLPI, Hard Rock International, Illinois, Indiana, International, Internet gambling, Iowa, Lake Tahoe, Laughlin, Law enforcement, Louisiana, Massachusetts, MGM Mirage, Mississippi, Penn National, Pennsylvania, Regulation, Seminole Tribe, Tropicana Entertainment, Wall Street | 1 Comment

MGM Boston?!?; Sports betting proceeds fitfully

Posted on April 16, 2018 by David McKee

According the Wall Street Journal, talks are underway between MGM Resorts International and Wynn Resorts for the latter to be shot of Wynn Boston Harbor, which has become a regulatory albatross around Wynn’s neck. Although this would mean giving almost … Continue reading →

Posted in Illinois, Kansas, Maryland, Massachusetts, MGM Mirage, Minnesota, Missouri, Mohegan Sun, Politics, Regulation, Sexual misconduct, Slot routes, Sports, Steve Wynn, Taxes, Wall Street, Wynn Resorts | Comments Off on MGM Boston?!?; Sports betting proceeds fitfully

Quote of the Day

Posted on April 14, 2018 by David McKee

“In the case of infectious diseases such as hepatitis C, curing existing patients also decreases the number of carriers able to transmit the virus to new patients, thus the incident pool also declines … Where an incident pool remains stable … Continue reading →

Posted in Current, Goldman Sachs | Comments Off on Quote of the Day

At long last, Kansas

Posted on April 13, 2018 by David McKee

JP Morgan has initiated coverage of the Kansas market, long out of sight. It’s coming off a strong (up 6%) March, finishing at $40 million. Boyd Gaming‘s Kansas Star Casino & Resort was dominant, grossing $18 million on an 8% … Continue reading →

Posted in Boyd Gaming, GLPI, Kansas, Penn National, Wall Street | Comments Off on At long last, Kansas

Bumpy month for Atlantic City; Stanley Ho has left the building

Posted on April 13, 2018 by David McKee

Winter has not been kind to Atlantic City, with gaming revenues down 3.5% in March ($193 million). At least Internet gaming is a bastion of strength, 17.5% more productive last month, with Golden Nugget dominating that sector with 34% market … Continue reading →

Posted in Atlantic City, Churchill Downs, Dan Gilbert, Detroit, Eldorado Resorts, Greenwood Racing, Harrah's, Internet gambling, Law enforcement, Louisiana, Macau, MGM Mirage, Mohegan Sun, Neil Bluhm, Pansy Ho, Penn National, Pennsylvania, Pinnacle Entertainment, Regulation, Sheldon Adelson, Sociedade de Jogos de Macau, Stanley Ho, The Mob, Tilman Fertitta, Tropicana Entertainment | Comments Off on Bumpy month for Atlantic City; Stanley Ho has left the building

MGM Connecticut hopes fading … for now

Posted on April 12, 2018 by David McKee

MGM Bridgeport will have to wait a bit. According to Connecticut Speaker of the House Joe Aresimowicz (D), the best chance of passage of any gaming-related legislation is narrow. Expressing misgivings about the consequences of further diluting the Nutmeg State’s gambling … Continue reading →

Posted in Boyd Gaming, Foxwoods, Genting, Indiana, Japan, Macau, MGM Mirage, Mohegan Sun, Movies, Politics, Sociedade de Jogos de Macau, The Strip, Transportation, Tribal | Comments Off on MGM Connecticut hopes fading … for now

Study zings MGM; Galaxy resort vetoed

Posted on April 11, 2018 by David McKee

Allowing a fourth casino into Connecticut — and thereby abrogating its gaming compacts — could be extremely costly for the Nutmeg State. That’s the conclusion of a new study by casino pundit Clyde Barrow. He writes that the new casino … Continue reading →

Posted in Affinity Gaming, Ameristar, Boyd Gaming, Centaur Gaming, Economy, Environment, Foxwoods, Full House Resorts, Galaxy Entertainment, Harrah's, Majestic Star, Maryland, Massachusetts, MGM Mirage, Mohegan Sun, New York, Penn National, Philippines, Pinnacle Entertainment, Politics, Taxes, Tribal, Tropicana Entertainment | Comments Off on Study zings MGM; Galaxy resort vetoed

New era at Wynn; Resorts turns 40

Posted on April 11, 2018 by David McKee

Kudos to Wynn Resorts CEO Matt Maddox for tacitly acknowledging that women were second-class citizens at the company. He’s created a department to promote diversity — better late than never. Wynn might say it’s not conceding anything but were there … Continue reading →

Posted in Atlantic City, Entertainment, Harrah's, history, Internet gambling, MGM Mirage, Mohegan Sun, PokerStars, Sexual misconduct, Steve Wynn, The Strip, Tilman Fertitta, Wynn Resorts | 1 Comment

Midwest roundup

Posted on April 10, 2018 by David McKee

Business was booming in Ohio, where the state’s casino industry saw revenues increase 9%. Hollywood Columbus ($22.5 million) was up 8.5% while Hollywood Toledo ($20 million) they gained 8%. Hollywood Dayton (+9%) and Hollywood Mahoning Valley (+13%) were phat, with … Continue reading →

Posted in Affinity Gaming, Ameristar, Boyd Gaming, Dan Gilbert, Eldorado Resorts, GLPI, Isle of Capri, Missouri, Ohio, Penn National, Pinnacle Entertainment, Tropicana Entertainment | Comments Off on Midwest roundup

Major leagues’ sticky fingers; They did some bad, bad things

Posted on April 10, 2018 by David McKee

Someone once compared golf’s Skins Game to watching rich people win the lottery. Well, the PGA is at it again, demanding an “integrity fee” from legalized sports betting. (Thankfully, Nevada is in a position to tell the league to bugger off.) … Continue reading →

Posted in Baseball, Illinois, Nevada, Politics, Sports, Taxes | 1 Comment

Quote of the Day

Posted on April 10, 2018 by David McKee

“The company could keep the asset on the books indefinitely without risking its REIT status. In addition, we believe MGM could serve as a backstop buyer if no one else is willing to pay a fair price. While regional casinos … Continue reading →

Posted in Hard Rock International, MGM Mirage, Ohio, Wall Street | Comments Off on Quote of the Day

Sands running in Pennsylvania; Zinke inaction irks tribes

Posted on April 9, 2018 by David McKee

Las Vegas Sands is halfway out the door at Sands Bethlehem but that doesn’t mean it doesn’t have any unfinished business, like seeking a five-year extension of its gambling license. CEO Brian Carr flashed some impressive numbers before regulators: $1.5 … Continue reading →

Posted in Charity, Columbia Sussex, Foxwoods, Harrah's, Internet gambling, MGM Mirage, Mississippi, Mohegan Sun, Pennsylvania, PokerStars, Politics, Regulation, Sheldon Adelson, Tribal, Unite-Here | Comments Off on Sands running in Pennsylvania; Zinke inaction irks tribes

Wynn out, MGM in: Is history repeating itself?

Posted on April 9, 2018 by David McKee

Remember when Kirk Kerkorian made Steve Wynn an offer he couldn’t refuse for Mirage Resorts? It looks like history is going to repeat itself with “back-channel approaches” being made by MGM Resorts International to embattled Wynn Resorts. “Wynn Resorts is … Continue reading →

Posted in Archon Corp., Donald Trump, Elaine Wynn, Galaxy Entertainment, Genting, Hard Rock International, Harrah's, Japan, Laughlin, Macau, Massachusetts, MGM Mirage, Nevada, Ohio, Pennsylvania, Politics, Regulation, Sexual misconduct, Steve Wynn, The Strip, Wall Street, Wynn Resorts | Comments Off on Wynn out, MGM in: Is history repeating itself?

Wynn fights back; Sheldon’s big payday

Posted on April 6, 2018 by David McKee

How can we miss Steve Wynn if he won’t go away? He’s suing a Las Vegas law firm for saying he was “leering” at female performers. Wynn’s defense is that he is legally blind (true enough), although we have found … Continue reading →

Posted in Boyd Gaming, IGT, Macau, Sexual misconduct, Sheldon Adelson, Steve Wynn, Technology | Comments Off on Wynn fights back; Sheldon’s big payday

No bailout for N.Y. casinos; Horseshoe Baltimore gets creative

Posted on April 6, 2018 by David McKee

There’s no question that upstate New York‘s new casinos drank their own bathwater when making their case to the state. Two of them are now squealing like stuck pigs, demanding that the Lege lower their tax rates. Never mind that … Continue reading →

Posted in Alabama, Genting, Harrah's, Horseracing, Internet gambling, Law enforcement, Maryland, Neil Bluhm, New York, Politics, Regulation, Sports, Taxes | 1 Comment

MGM owns Maryland; Rumble in Deadwood

Posted on April 5, 2018 by David McKee

MGM National Harbor continues to devour the Maryland market, hitting a record 40% market share last month, along with a best-ever $1.95 million/day in gross gaming record, for an overall gross of $60.5 million. Less pleasing for MGM execs: Slots … Continue reading →

Posted in Boyd Gaming, Churchill Downs, Cordish Co., Golden Gaming, Harrah's, Internet gambling, Law enforcement, Louisiana, Maryland, MGM Mirage, Oklahoma, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Regulation, Sheldon Adelson, South Dakota, Sports, Taxes, Tribal, West Virginia | 2 Comments