Author Archives: David McKee

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Quote of the Day

Posted on May 8, 2017 by David McKee

“To us, the opportunity is thoroughly Japanese and thoroughly delicious.” — Dadaist remark by Steve Wynn about casinos in Japan. Is it just us or is Wynn sounding more and more like Mayor Adam West on Family Guy?

Posted in Japan, Steve Wynn, TV | Comments Off on Quote of the Day

Analysts: Station underperforms; Miami Beach bans casinos

Posted on May 5, 2017 by David McKee

Station Casinos reported revenue yesterday and the Palms is on track for 6% ROI this year. So there’s some work to be done. Management is already off to a good start by closing the world’s largest Hooters, victim of sagging … Continue reading →

Posted in Colony Capital, Columbia Sussex, Dining, Donald Trump, Florida, Genting, George Maloof, Hard Rock International, Harrah's, history, IGT, International, MGM Mirage, PokerStars, Seminole Tribe, Sports, Station Casinos, Wall Street | 1 Comment

No casino is an Isle-and; Florida fails again

Posted on May 4, 2017 by David McKee

Eldorado Resorts took another big step toward gaming’s major leagues with its acquisition of Isle of Capri Casinos, a deal that closed earlier this week. The purchase gives Eldorado 12 more casinos, including a presence in the important Lake Charles … Continue reading →

Posted in Dan Gilbert, Eldorado Resorts, Florida, GLPI, Hard Rock International, history, Internet gambling, Isle of Capri, Japan, Louisiana, Ohio, Penn National, Pennsylvania, Politics, Reno, Seminole Tribe, Technology | Comments Off on No casino is an Isle-and; Florida fails again

Quote of the Day

Posted on May 4, 2017 by David McKee

“Anyone who owns a poker room in Portland lives in a state of high anxiety.” — Save Oregon Poker‘s Chris Vetter on a recently passed bill to outlaw poker rooms in the state. Having lost in the House of Representatives, card … Continue reading →

Posted in Politics | Comments Off on Quote of the Day

Ho upbeat on Macao, Japan; Showdown for Gun Lake Tribe

Posted on May 3, 2017 by David McKee

Macao could be a $45 billion-a-year market again, says Lawrence Ho, who calls himself extremely bullish on the enclave’s prospects. He’s not been snorting coke, according to Union Gaming Group analyst Grant Govertsen, who calls it “achievable target for Macao … … Continue reading →

Posted in Economy, Japan, Lawrence Ho, Macau, Melco Crown Entertainment, Politics, Tribal, Wall Street | Comments Off on Ho upbeat on Macao, Japan; Showdown for Gun Lake Tribe

Wall Street hearts Boyd; Disunity in Pennsylvania

Posted on May 3, 2017 by David McKee

Boyd Gaming, the red-headed stepchild of the casino industry, got some love from Wall Street yesterday. JP Morgan analyst Joseph Greff wrote that “the improving free cash flow in the BYD story is not reflected in the current stock price, … Continue reading →

Posted in Boulder Strip, Boyd Gaming, Cannery Casino Resorts, Greenwood Racing, Louisiana, North Las Vegas, Penn National, Pennsylvania, Pinnacle Entertainment, Slot routes, Wall Street | Comments Off on Wall Street hearts Boyd; Disunity in Pennsylvania

Quote of the Day

Posted on May 3, 2017 by David McKee

“What Steve [Wynn] did was put scale to it. He kept the elegance, the personality, the landscape, buildings, the interiors and the games. But the most important element of our Las Vegas experience is what occurs between the visitors’ ears. … Continue reading →

Posted in Architecture, Steve Wynn, The Strip | Comments Off on Quote of the Day

Warming trend continues in Macao; Shifty dealings in Maine

Posted on May 2, 2017 by David McKee

Gaming revenues in Macao rose 16% in April, a result that Deutsche Bank analyst Carlo Santarelli deemed “modestly better than expected.” That’s damning with faint praise. JP Morgan analyst Joseph Greff also shrugged off the numbers as “about as expected.” … Continue reading →

Posted in California, Donald Trump, Downtown, Eldorado Resorts, Entertainment, Horseracing, International, Macau, Maine, Maryland, MGM Mirage, New York, PokerStars, Politics, Regulation, Tribal, TV, Wall Street | Comments Off on Warming trend continues in Macao; Shifty dealings in Maine

Nevada is #1; Atlantic Club plans dashed

Posted on May 2, 2017 by David McKee

Congratulate yourself, Nevadans. Your state has been deemed “most fun” by WalletHub. This is despite only mediocre rankings in movie theaters and amusement parks per capita (27th and 28th, respectively). Nevada was tops in casinos — big surprise, I know … Continue reading →

Posted in Atlantic City, California, Donald Trump, Entertainment, Harrah's, International, Internet gambling, Law enforcement, Nevada, Philippines, Sports, Steve Wynn, Technology, Tribal | Comments Off on Nevada is #1; Atlantic Club plans dashed

Quote of the Day

Posted on May 1, 2017 by David McKee

“We are trying to knock down some sort of silly notion that you could have tax parity between iGaming and the slot machines and that it could be a successful industry and we’re trying to convince them that if they … Continue reading →

Posted in Internet gambling, Penn National, Pennsylvania, Taxes | Comments Off on Quote of the Day

Quote of the Day

Posted on April 28, 2017 by David McKee

“It’s a stupid number. Let’s assume we have the max, which is five casinos. Now take $40 billion divided by five—that’s $8.5 billion. The largest-grossing casino in the world, Marina Bay Sands, does about $3.2 billion a year. Are you telling … Continue reading →

Posted in Economy, Japan, Singapore, Wall Street | 1 Comment

Paradise Park approved; Sweeping compromise in Florida

Posted on April 28, 2017 by David McKee

Wynn Paradise Park is finally a “go,” the Wynn Resorts board having given a downsized version of the resort its blessing, Construction of the 20-acre lagoon and accompanying convention center may begin before the year is out, perhaps as early … Continue reading →

Posted in Florida, Genting, Illinois, Internet gambling, Kansas, Macau, Pennsylvania, Politics, Problem gambling, Racinos, Regulation, Seminole Tribe, Sheldon Adelson, Steve Wynn, Taxes, The Strip, Tribal | 1 Comment

REITs meet the Street; Martinez wins in New Mexico

Posted on April 28, 2017 by David McKee

REITs Gaming & Leisure Properties and MGM Growth Properties both checked in with Wall Street yesterday, and further acquisitions were on the mind of both. In the case of MGM, its next target of opportunity is MGM National Harbor (“on … Continue reading →

Posted in Donald Trump, Economy, GLPI, Harrah's, MGM Mirage, Mississippi, Ohio, Penn National, Pennsylvania, Sheldon Adelson, Sports, The Strip, Tribal, Wall Street | Comments Off on REITs meet the Street; Martinez wins in New Mexico

Freeman: Sports betting is coming; Second thoughts on Paradise Park

Posted on April 27, 2017 by David McKee

It could be a case of wishing that legalization of sports betting will make it so. Or maybe Geoff Freeman is privy to intelligence that he’s not shared with the rest of us. Either way, he thinks a sports-betting repeal … Continue reading →

Posted in Atlantic City, Boulder Strip, Carl Icahn, Dining, Donald Trump, Geoff Freeman, Goldman Sachs, history, Laughlin, Politics, Sports, Steve Wynn, Technology, The Strip, Transportation, Tropicana Entertainment | 1 Comment

Baccarat bonanza on Strip

Posted on April 26, 2017 by David McKee

Despite being clocked at baccarat, Las Vegas Strip casinos took in 8% more last month, a jump Wall Street is attributing to the Easter holiday and the much-anticipated Con-Agg expo. Baccarat play was 6% down and casinos won 16% less. … Continue reading →

Posted in Boulder Strip, Downtown, Lake Tahoe, Laughlin, Mesquite, North Las Vegas, Reno, The Strip, Wall Street | Comments Off on Baccarat bonanza on Strip

Crony capitalism at Sands; Ilani Casino packs ’em in

Posted on April 26, 2017 by David McKee

Rob Goldstein isn’t exactly a pauper these days but a swoon in Las Vegas Sands‘ Macao takings also took a chomp out of Goldstein’s wallet. His compensation in 2016 was 19% lower than the year before. By contrast, CEO Sheldon … Continue reading →

Posted in Environment, Japan, Macau, Sheldon Adelson, South Korea, Transportation, Tribal, Wisconsin | Comments Off on Crony capitalism at Sands; Ilani Casino packs ’em in

Quote of the Day

Posted on April 26, 2017 by David McKee

“MGM Resorts resulted from the merger of MGM Grand and Mirage Resorts. After the merger, the two organizations continued to operate separately, with two COOs and two separate cultures. Multiple properties competed against each other. There was no unified strategy for growth—and … Continue reading →

Posted in history, MGM Mirage | Comments Off on Quote of the Day

Wynn: Paradise deferred

Posted on April 26, 2017 by David McKee

Perhaps it’s the distraction caused by casino legalization in Japan. Perhaps it’s the cost creep (now up to $2.4 billion) at Wynn Boston Harbor. Whatever the reason, Wynn Resorts has scaled down its plans for Wynn Paradise Park. Rest assured, … Continue reading →

Posted in Ameristar, Economy, Entertainment, Indiana, Iowa, Macau, Massachusetts, Mississippi, Steve Wynn, The Strip, Wall Street, Warner Gaming | Comments Off on Wynn: Paradise deferred

Quote of the Day

Posted on April 24, 2017 by David McKee

“Water rights are civil rights, and civil rights are human rights. This is not a money problem. This is a democracy problem. Flint, Michigan, is a moral parable about the peril of giving up control of your water.” — NAACP … Continue reading →

Posted in Atlantic City, Environment, Glenn Straub, Revel | Comments Off on Quote of the Day

Quote of the Day

Posted on April 21, 2017 by David McKee

“This is Senator Lou D’Allesandro’s (D) 19th attempt to legalize casino gaming in the state, and each successive bill’s annual defeat in the House has become something of a New Hampshire tradition, a bit like Rochester Fair but less fun.” … Continue reading →

Posted in New Hampshire, Politics | Comments Off on Quote of the Day