Author Archives: David McKee

About David McKee

Bio

Macao junketeers left holding the bag; Lionel Richie wows the ladies

Posted on April 28, 2016 by David McKee

We could see another shakeout in Macao junket operators. According to Daiwa Securities Group, most of the industry is “struggling just to break even.” Part of that problem is that they’re carrying almost $3,9 billion in bad debt — and you … Continue reading →

Posted in Australia, Economy, Entertainment, Foxwoods, International, Macau, Marketing, Melco Crown Entertainment, Mohegan Sun, Penn National, Planet Hollywood, Regulation, Sheldon Adelson, South Dakota, Sports, Steve Wynn, Taxes, The Strip, Tribal, Wall Street | Comments Off on Macao junketeers left holding the bag; Lionel Richie wows the ladies

Strip disappoints in March; Genting pulls out of Macao

Posted on April 28, 2016 by David McKee

Just when Wall Street expected levels of revenue on the Las Vegas Strip to rise in March, business did a head-fake and dropped 4%. Again, “the Easter shift” is being blamed but stock analysts should have seen that coming. (A … Continue reading →

Posted in Boulder Strip, Downtown, Economy, Genting, Internet gambling, Lake Tahoe, Laughlin, Macau, North Las Vegas, Regulation, Reno, Singapore, Stanley Ho, Taxes, The Strip, Tourism, Tropicana Entertainment, Unite-Here, Wall Street | Comments Off on Strip disappoints in March; Genting pulls out of Macao

Fertittas strike it rich(er); Boyd surprises analysts

Posted on April 27, 2016 by David McKee

Red Rock Resorts — aka Station Casinos — split the difference in Wall Street‘s expectations of this week’s IPO, debuting a $19.50 (Street estimates ranged from $18 to $21 a share). Unfortunately, unlike the MGM Growth Partners offering, the goal … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, Cannery Casino Resorts, Hawaii, history, MGM Mirage, Mississippi, North Las Vegas, Reno, Sheldon Adelson, Sports, Station Casinos, The Strip, Tourism, Wall Street | Comments Off on Fertittas strike it rich(er); Boyd surprises analysts

Quote of the Day

Posted on April 26, 2016 by David McKee

“I learned many years ago about the importance of not punching down in weight class. You don’t hit ‘little people’ in this craft, you defend them. In Las Vegas, a quintessential company town, it’s the blowhard billionaires and their political … Continue reading →

Posted in Sheldon Adelson, Steve Wynn | 2 Comments

It’s official: Boyd buys Cannery; Massachusetts’ agonizing dilemma

Posted on April 26, 2016 by David McKee

Confirming the worst-kept secret in Las Vegas, suddenly acquisitive Boyd Gaming announced that it was buying out Cannery Casino Resorts. The price ($230 million) was toward the lower end of Wall Street had predicted for the deal and means the … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, Cannery Casino Resorts, Downtown, Economy, Massachusetts, Neil Bluhm, North Las Vegas, Penn National, Regulation, Taxes, The Strip, Tourism, Tribal, Wall Street | Comments Off on It’s official: Boyd buys Cannery; Massachusetts’ agonizing dilemma

What did Wynn know and when did it know it?; MGM REIT a hit

Posted on April 26, 2016 by David McKee

An unwelcome sideshow for Wynn Boston Harbor is playing out in a Massachusetts courtroom, in a court case of “excruciating details.” What is at issue is whether Dustin DeNunzio, Anthony Gattineri and Charles Lightbody attempted to defraud Wynn Resorts by concealing convicted … Continue reading →

Posted in Internet gambling, Law enforcement, Massachusetts, MGM Mirage, Oklahoma, Regulation, Sheldon Adelson, Singapore, Steve Wynn, Tribal, Wall Street | Comments Off on What did Wynn know and when did it know it?; MGM REIT a hit

Straub’s better mousetrap; Sparks Nugget in the clear

Posted on April 22, 2016 by David McKee

By now it is something of an understatement to say that Revel owner Glenn Straub thinks outside the box. Or, as the Philadelphia Inquirer put it, his “plans for the massive property have veered erratically from mud slides to academic … Continue reading →

Posted in Atlantic City, Dining, Economy, Entertainment, Environment, Geoff Freeman, Glenn Straub, International, Law enforcement, Macau, Marnell Gaming, Pinnacle Entertainment, Regulation, Reno, Revel, Sheldon Adelson, Sports, Taxes | Comments Off on Straub’s better mousetrap; Sparks Nugget in the clear

Boyd strikes again; Wynn vs. Wynn III

Posted on April 22, 2016 by David McKee

Continuing its thrust into North Las Vegas, a suddenly acquisitive Boyd Gaming has obtained Aliante Casino Hotel & Spa. Unlike its surprise, if still unconfirmed, swoop upon Cannery Casino Resorts, here Boyd is snapping up a property we knew was … Continue reading →

Posted in Boyd Gaming, Cannery Casino Resorts, Marketing, MGM Mirage, North Las Vegas, Sahara, Station Casinos, Steve Wynn, The Strip, Wall Street | Comments Off on Boyd strikes again; Wynn vs. Wynn III

Quote of the Day

Posted on April 21, 2016 by David McKee

“As an institution built on the free discourse of sex, politics and culture, we have been following the question over [Donald] Trump’s endowment since Marco Rubio mocked Trump’s small hands back at the beginning of the year. Unlike other U.S. galleries, the EHM … Continue reading →

Posted in Donald Trump, Election, Entertainment | Comments Off on Quote of the Day

Boyd to acquire Cannery?; Signs of movement in Atlantic City impasse

Posted on April 21, 2016 by David McKee

Sleeping giant Boyd Gaming is stirring to life, reportedly on the verge of a $225 million-$240 million buyout of Cannery Casino Resorts, according to Reuters. The latter’s Mike Stone says the deal would “give Boyd a strong foothold in the … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, California, Cannery Casino Resorts, Election, Entertainment, GLPI, Harrah's, James Packer, Pennsylvania, Politics, Reno, The Strip, Wall Street | 1 Comment

Derek Stevens’ latest gambit; Hard quarter for Sands

Posted on April 21, 2016 by David McKee

Tilman Fertitta, move over. Derek Stevens is now downtown Las Vegas‘ biggest power player. Even though he has two operational casinos (The D and Golden Gate), plus one in mothballs (the Las Vegas Club), he’s expanded his acreage further by … Continue reading →

Posted in Derek Stevens, Downtown, Macau, Pennsylvania, Sheldon Adelson, Singapore, The Strip | 2 Comments

Ethnic insensitivity in Oregon; Penn’s last stand in Iowa

Posted on April 20, 2016 by David McKee

A TV ad campaign for Oregon state-sponsored VLTs has riled up the Coquille Indian Tribe, not least because it depicts the Lewis & Clark Expedition happening upon video gaming in wilderness that has been ethnically cleansed of Native Americans. Coquille Chairman … Continue reading →

Posted in California, Delaware, Economy, Internet gambling, Iowa, Macau, Marketing, Penn National, Regulation, Tourism, Transportation, Tribal, Warner Gaming | Comments Off on Ethnic insensitivity in Oregon; Penn’s last stand in Iowa

Adelson, master manipulator?; MGM REIT launched

Posted on April 20, 2016 by David McKee

Is Sheldon Adelson the secret string-puller behind Kelden Engel‘s petition drive to have part of the Riviera preserved? John L. Smith hints at that in this morning’s edition of Adelson’s Las Vegas Review-Journal. “If he’s carrying the water for someone who … Continue reading →

Posted in Atlantic City, Boyd Gaming, Entertainment, Illinois, LVCVA, MGM Mirage, Riviera, Sheldon Adelson, Steve Wynn, The Strip, Wall Street | Comments Off on Adelson, master manipulator?; MGM REIT launched

Reversal in Jersey City; Tables buoy Pennsylvania grosses

Posted on April 19, 2016 by David McKee

Shoe mogul Paul Fireman‘s plan to build a $4.6 billion megaresort in Jersey City is losing the support of Mayor Steve Fulop (D). New Jersey State Building & Construction Trades Council President William T. Mullen was sent into a howl of … Continue reading →

Posted in Atlantic City, California, GLPI, Greenwood Racing, Harrah's, Isle of Capri, Mohegan Sun, Neil Bluhm, Penn National, Pennsylvania, Politics, Racinos, Sheldon Adelson, Taxes | Comments Off on Reversal in Jersey City; Tables buoy Pennsylvania grosses

Station: New name, same old shtick

Posted on April 19, 2016 by David McKee

We’re going to have to get used to calling Station Casinos by its new corporate moniker, Red Rock Resorts (ticker symbol RRR). Oh, the Station brand isn’t going anywhere: For consumer-oriented purposes, all the Stations and Wildfires and so on … Continue reading →

Posted in Golden Gaming, Law enforcement, Massachusetts, Penn National, Reno, Slot routes, Station Casinos, Wall Street | Comments Off on Station: New name, same old shtick

Save the Riviera!; Soggy March in Louisiana; The blacklist

Posted on April 18, 2016 by David McKee

Local preservationist Kelden Engel is trying to fight the power. He’s seeking 51,000 qualified signatures in a petition drive to halt demolition of the Riviera, currently slated for June. Not only is he racing the clock, he may be fighting … Continue reading →

Posted in Boyd Gaming, Churchill Downs, Eldorado Resorts, Environment, GLPI, Harrah's, history, Isle of Capri, Louisiana, LVCVA, Pinnacle Entertainment, Racinos, Reno, The Strip, Tropicana Entertainment, TV | Comments Off on Save the Riviera!; Soggy March in Louisiana; The blacklist

Could a Chicago casino be in the works?; High-flown idea for Vegas

Posted on April 15, 2016 by David McKee

Taking a page from Kansas, lawmakers in Illinois are exploring the idea of a state-owned casino. A bill before the House Executive Committee would authorized a super-sized casino (up to 10,000 slots) in Chicago, with the proceeds dedicated to “public … Continue reading →

Posted in Illinois, Neil Bluhm, New York, Politics, The Strip, Tribal | 1 Comment

Icahn promises little, gets OK’d anyway; Tribal generosity in California

Posted on April 14, 2016 by David McKee

Carl Icahn is officially the owner of Trump Taj Mahal, having received the blessing of the New Jersey Casino Control Commission. The OK was given despite Icahn’s having reneged on his promise of a $100 million capex infusion into the … Continue reading →

Posted in Alabama, Atlantic City, California, Carl Icahn, Donald Trump, Genting, International, Penn National, Tribal, Tropicana Entertainment | Comments Off on Icahn promises little, gets OK’d anyway; Tribal generosity in California

Smoke gets in their eyes; Tax breaks all around

Posted on April 14, 2016 by David McKee

Yesterday morning, it looked like Baton Rouge casinos were going to have to brace themselves for a smoking ban. Today, they’re lighting up celebratory cigars in relief: While proponents of the smoking ban on the city council had six votes, … Continue reading →

Posted in Boyd Gaming, Environment, GLPI, Harrah's, Louisiana, New York, Pinnacle Entertainment, Regulation, Reno, Taxes, Tribal, Tropicana Entertainment, Wall Street | Comments Off on Smoke gets in their eyes; Tax breaks all around

New life for California online poker?; Maine casino push struggles to stay alive

Posted on April 13, 2016 by David McKee

Online poker is described as being “as close as [it’s] ever been” to legalization in California. So says California Nations Indian Gaming Association Chairman Steve Stallings, as a bill by Assemblyman Adam Gray shows signs of advancing. The primary obstacle, as ever, … Continue reading →

Posted in Dan Gilbert, Detroit, Election, Internet gambling, Maine, MGM Mirage, PokerStars, Taxes, Tribal | Comments Off on New life for California online poker?; Maine casino push struggles to stay alive