Author Archives: David McKee

About David McKee

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Caesars seeks taxpayer bailout; Sands lawsuit suddenly vanishes

Posted on June 3, 2016 by David McKee

You’ve got to hand it to Caesars Entertainment: It is truly shameless. The company went to the Internal Revenue Service seeking a “a tax-free separation” for REIT-to-be Caesars Entertainment Operating Co., claiming that if it had to pay taxes that … Continue reading →

Posted in Arkansas, Election, Harrah's, Internet gambling, New York, Pennsylvania, Politics, Sheldon Adelson, Taxes | Comments Off on Caesars seeks taxpayer bailout; Sands lawsuit suddenly vanishes

Atlantic City back on death watch?; Money problems at Moulin Rouge

Posted on June 3, 2016 by David McKee

Things are suddenly looking grim for Atlantic City: A new Monmouth University poll shows voters evenly divided on a referendum to end the Boardwalk’s monopoly on casino gambling, an erosion of public support for the resort city. Assessing the situation … Continue reading →

Posted in Atlantic City, Downtown, Economy, Election, Environment, Harrah's, Internet gambling, Macau, Massachusetts, MGM Mirage, Mohegan Sun, Penn National, Problem gambling, Regulation, Riviera, Steve Wynn, Tilman Fertitta, Trump Entertainment Resorts | Comments Off on Atlantic City back on death watch?; Money problems at Moulin Rouge

Quote of the Day

Posted on June 3, 2016 by David McKee

“I was a little bit embarrassed for them that they would perpetuate the notion that people sitting around in the suburbs of Las Vegas and Henderson and Boulder City are sitting around on Sunday afternoons saying, ‘I wish we had … Continue reading →

Posted in LVCVA, MGM Mirage, Sheldon Adelson, Sports | Comments Off on Quote of the Day

Monte Carlo, meet Park MGM; Wynn, Adelson, Barrack help Trump

Posted on June 3, 2016 by David McKee

In the end, MGM Resorts International CEO Jim Murren couldn’t decide between “The Park” and “The Park at MGM Grand” as the new name for Monte Carlo, so he dubbed it Park MGM, which sounds like someplace you leave your … Continue reading →

Posted in Charity, Colony Capital, Donald Trump, Entertainment, Environment, Harrah's, Massachusetts, MGM Mirage, Michael Gaughan, Sheldon Adelson, Sports, Station Casinos, Steve Wynn, The Strip, Transportation | Comments Off on Monte Carlo, meet Park MGM; Wynn, Adelson, Barrack help Trump

Dan Lee raises Hoosier hackles; Sioux City mess not done yet

Posted on June 2, 2016 by David McKee

Indiana Gov. Mike Pence (R) has made it pretty clear that there aren’t going to be any new casinos on his watch, just riverboats converted to onshore facilities. Try telling that to Full House Resorts CEO Dan Lee, however. The … Continue reading →

Posted in Charity, Dan Lee, Full House Resorts, Indiana, Iowa, New Hampshire, Penn National, Politics, Racinos | Comments Off on Dan Lee raises Hoosier hackles; Sioux City mess not done yet

Raiders to Vegas? Don’t bet against it

Posted on June 2, 2016 by David McKee

The boulder that is Mark Davis‘ and Sheldon Adelson‘s attempt to move the [your city here] Raiders to Las Vegas is gaining momentum as it rumbles downhill. The growing support among NFL owners is not unconditional. Sin City would be one … Continue reading →

Posted in Architecture, Atlantic City, Carl Icahn, history, LVCVA, Macau, Massachusetts, MGM Mirage, Oklahoma, Sheldon Adelson, Sports, The Strip, Tourism, Tropicana Entertainment, Trump Entertainment Resorts, Unite-Here, Wall Street | Comments Off on Raiders to Vegas? Don’t bet against it

Quote of the Day

Posted on May 31, 2016 by David McKee

“In its simplest form, MGM bought $102 mm of EBITDA for ~$900 mm and sold $100 mm of EBITDA for $1.175 [billion]. Thus, simplistically, MGM’s share of Borgata EBITDA remains effectively the same, MGM takes over day to day management … Continue reading →

Posted in Atlantic City, Boyd Gaming, MGM Mirage, Wall Street | Comments Off on Quote of the Day

This just in: Borgata sold; Christie gives some, gets much

Posted on May 31, 2016 by David McKee

In a development that has to be called nothing less than shocking, Boyd Gaming has sold its cash cow, its 50% stake in Borgata. For $900 million, it cashes out to MGM Resorts International and MGM Growth Properties. It’s a … Continue reading →

Posted in Atlantic City, Boyd Gaming, Harrah's, Marketing, MGM Mirage, North Las Vegas, Politics | Comments Off on This just in: Borgata sold; Christie gives some, gets much

Lucky Dragon forges ahead; Calm urged in Macao

Posted on May 31, 2016 by David McKee

By this point, it’s hardly news that Lucky Dragon Casino is on track to open in December, breathing some additional life into the north Strip (we hope). However, Lucky Dragon execs continue to argue that they should have received tax-increment … Continue reading →

Posted in Economy, International, Lucky Dragon, Macau, Marketing, Regulation, Sheldon Adelson, Taxes, The Strip, Tourism | Comments Off on Lucky Dragon forges ahead; Calm urged in Macao

Straub: Name my casino!; RAWA breathes its last … for now

Posted on May 27, 2016 by David McKee

Glenn Straub has either thrown up his hands over the task of renaming Revel or is feeling the spirit of democracy. Either way, he’s taking suggestions from the Twitterverse as to potential new monikers, with a $10,000 for the winning … Continue reading →

Posted in Atlantic City, Charity, Downtown, Election, Entertainment, Glenn Straub, history, Internet gambling, Iowa, MGM Mirage, Mohegan Sun, Neil Bluhm, New York, Oklahoma, Pennsylvania, Phil Ruffin, Politics, Revel, Sports, Tamares Group, Taxes, The Strip, Transportation, Tribal | 1 Comment

Lean April in Las Vegas; Boyd stands pat

Posted on May 27, 2016 by David McKee

April saw mixed fortunes the Las Vegas Strip. Although overall gambling revenue was only up 1.5%, winning percentages tended to favor the house by considerable amounts. For instance, although baccarat players wagered 21% more but house win was up 10%. “While … Continue reading →

Posted in Atlantic City, Boyd Gaming, California, Downtown, Economy, Election, Lake Tahoe, Laughlin, Law enforcement, North Las Vegas, Reno, Sports, The Strip, Wall Street | Comments Off on Lean April in Las Vegas; Boyd stands pat

PokerStars camel meets eye of needle; Penn loses last-gasp appeal

Posted on May 25, 2016 by David McKee

California state Rep. Adam Gray‘s online-gaming bill comes under some close scrutiny from analysts Steven Eichorn and Jeff Ifrah. As expected, there is no “bad actor” clause that would explicitly keep Unlawful Internet Gambling Enforcement Act scofflaws like PokerStars out … Continue reading →

Posted in Atlantic City, Boyd Gaming, California, Genting, Internet gambling, Iowa, Law enforcement, MGM Mirage, New York, Penn National, PokerStars, Politics, Regulation, Singapore, Stanley Ho, Tribal | Comments Off on PokerStars camel meets eye of needle; Penn loses last-gasp appeal

Sheldon’s big surprise; AGA attacks NFL silliness

Posted on May 25, 2016 by David McKee

Sheldon Adelson is feeling bullish on the Las Vegas market these days. Undeterred by the debut of T-Mobile Arena, he is proposing a 17,500-seat concert venue, to be built on underutilized land behind Venelazzo. Adelson has formed a consortium with … Continue reading →

Posted in Architecture, California, Downtown, Entertainment, Geoff Freeman, history, Hooters, Internet gambling, MGM Mirage, Ohio, Pennsylvania, Sheldon Adelson, Sports, Texas, The Strip | Comments Off on Sheldon’s big surprise; AGA attacks NFL silliness

DFS stalls in Illinois; Mississippi casinos rebound

Posted on May 24, 2016 by David McKee

Things were looking up for the daily fantasy sports industry in Illinois, where enabling legislation passed the state Senate 32-22. However, a hold has been put on the bill, which may not make it to the House. Why? Although the legislation … Continue reading →

Posted in Arkansas, Delaware, G2E, Hard Rock International, Harrah's, Illinois, Internet gambling, Macau, Marketing, Mississippi, Nevada, PokerStars, Politics, Steve Wynn, Tribal | Comments Off on DFS stalls in Illinois; Mississippi casinos rebound

New era at Trump Taj Mahal; Blasphemous gambling promo spanked

Posted on May 24, 2016 by David McKee

He’s been handed a small budget ($15 million) for the task at hand, but new Trump Taj Mahal boss Anthony Rodio has been charged with undoing the damage inflicted on the property during the Bob Griffin era. This includes “reactivating … Continue reading →

Posted in Affinity Gaming, Atlantic City, Boyd Gaming, Cannery Casino Resorts, CityCenter, Dining, history, Internet gambling, Macau, MGM Mirage, Penn National, Regulation, Sports, Stanley Ho, Station Casinos, Tamares Group, Technology, Tropicana Entertainment, Unite-Here | 1 Comment

Quote of the Day

Posted on May 24, 2016 by David McKee

“I believe that art is an essential element of quality of life. I believe that all people regardless of their level of interest, education in the arts or even inclination has a visceral positive experience when they are enriched visually. That … Continue reading →

Posted in CityCenter, MGM Mirage, The Strip | Comments Off on Quote of the Day

Wall Street loves Red Rock; ColSux foiled again

Posted on May 24, 2016 by David McKee

Wall Street analysts are initiating coverage of Red Rock Resorts and they like what they see. JP Morgan‘s Joseph Greff put a $25 price target on the stock, emboldened in part by RRR’s acquisition of the Palms and its growing … Continue reading →

Posted in Columbia Sussex, Dining, Downtown, Economy, Environment, Harrah's, history, Kentucky, Palms, Reno, Station Casinos, The Strip, Tribal | Comments Off on Wall Street loves Red Rock; ColSux foiled again

Macao: The 9% solution; It’s a bird, it’s a plane, it’s Steve Wynn

Posted on May 19, 2016 by David McKee

Supply has overrun demand in Macao, where a wave of impending megaresorts is rolling in on an emaciated marketplace. But optimistic noises are being heard at Global Gaming Expo Asia, amid the robotic croupiers and other new toys. “The sentiments … Continue reading →

Posted in Downtown, Economy, Entertainment, G2E, International, Lawrence Ho, Macau, Pennsylvania, Politics, Regulation, Steve Wynn, Taxes | Comments Off on Macao: The 9% solution; It’s a bird, it’s a plane, it’s Steve Wynn

Caesars’ slippery slope; Parx, Sands lead Pennsylvania

Posted on May 19, 2016 by David McKee

In 20 years of covering the gaming industry, I have rarely seen an example of looting a company so brazen as the “sale” of Total Rewards from Caesars Entertainment Operating Co. to parent Caesars Entertainment for $0.00. And since Big … Continue reading →

Posted in Boyd Gaming, Churchill Downs, Cordish Co., Dining, Eldorado Resorts, Entertainment, Greenwood Racing, Harrah's, Isle of Capri, Kansas, Louisiana, Mohegan Sun, Neil Bluhm, Oklahoma, Penn National, Pennsylvania, Pinnacle Entertainment, Planet Hollywood, Sheldon Adelson, Texas, Tribal | Comments Off on Caesars’ slippery slope; Parx, Sands lead Pennsylvania

Quote of the Day

Posted on May 19, 2016 by David McKee

“In the short-term there will be conflicting information and worry about the aviation sector in the region, but we remain bullish on the long-term prospects on airlines flying out of, and headquartered in Gulf States (UAE, Qatar) specifically.” — Jonathan Galaviz, … Continue reading →

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