Author Archives: David McKee

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Quote of the Day

Posted on November 27, 2015 by David McKee
Posted in Donald Trump, Election | Comments Off on Quote of the Day

Atlantic City casinos make less, profit more

Posted on November 24, 2015 by David McKee

In a paradoxical development, Atlantic City casinos reported a 61% increase in profitability in Q315. That largesse came even as gross gaming revenues only rose 5%. Cost-containment is credited with being the source of the bounty. Caesars Interactive swung from … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Dan Gilbert, Economy, Election, Glenn Straub, Harrah's, Indiana, International, Internet gambling, Massachusetts, MGM Mirage, Mohegan Sun, Ohio, Politics, Revel, Sheldon Adelson, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts | Comments Off on Atlantic City casinos make less, profit more

DFS sued again; Penn disappoints, MGM excels

Posted on November 24, 2015 by David McKee

A Florida attorney seems to have found the soft underbelly of the daily fantasy sports industry: its investors. Ervin Gonzales, representing two Sunshine State punters, has filed a class-action lawsuit that names among its defendants all the major sporting leagues, … Continue reading →

Posted in Florida, Internet gambling, Law enforcement, Massachusetts, MGM Mirage, Penn National, Regulation, Sports | Comments Off on DFS sued again; Penn disappoints, MGM excels

Quote of the Day

Posted on November 24, 2015 by David McKee

“They may have to give up daily games and be limited to real athletic events that take place on at least two days.  And they will certainly be required to be regulated. But there is too much money at stake to … Continue reading →

Posted in Internet gambling, Law enforcement, Regulation | Comments Off on Quote of the Day

The dark side of DFS; Wynn delay provokes caution

Posted on November 23, 2015 by David McKee

Daily fantasy sports backlash has claimed its first casualty. Relatively minor site TradeSports.com has gone out of business. “Recent negative events in the industry have already increased our costs of operating (and will most likely continue to do so); or perhaps … Continue reading →

Posted in Economy, Internet gambling, Macau, Massachusetts, Problem gambling, Regulation, Steve Wynn, Wall Street | Comments Off on The dark side of DFS; Wynn delay provokes caution

Quote of the Day

Posted on November 23, 2015 by David McKee

“The candidate does not appear to have any commitment to accuracy.” — University of California climate scientist Emmanuel Vincent, assessing the validity of Donald Trump‘s pronouncements on science in a blind study. Trump? Untethered to veracity? Perish the thought!

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

Rick Scott screws the Seminoles; Internet gaming advances in Pennsylvania

Posted on November 20, 2015 by David McKee

By the this point in time it’s pretty clear that Florida Gov. Rick Scott (R) has been negotiating in bad faith with the Seminole Tribe. He’s had five years to come up with a new compact regarding the tribe’s blackjack … Continue reading →

Posted in Florida, Internet gambling, Macau, Pennsylvania, Regulation, Seminole Tribe, Steve Wynn | Comments Off on Rick Scott screws the Seminoles; Internet gaming advances in Pennsylvania

Runaway costs in Springfield; Lucky Dragon not so lucky

Posted on November 20, 2015 by David McKee

MGM Springfield is turning into the worst of both worlds. Not only has the ‘wow’ factor been subtracted (“really the least interesting part of our project,” one exec contended), with the result that the casino-hotel looks more like a bank … Continue reading →

Posted in Architecture, California, Culinary Union, Downtown, Entertainment, Lucky Dragon, Massachusetts, MGM Mirage, Regulation, Taxes, Transportation | Comments Off on Runaway costs in Springfield; Lucky Dragon not so lucky

Tribes 1, NLRB 0; DFS on the rampage

Posted on November 18, 2015 by David McKee

In a big setback for Big Labor, the House of Representatives voted to exempt tribal casinos from National Labor Relations Board oversight. This turns back 11 years of precedent, stemming from a 2004 NLRB ruling that San Manuel Indian Bingo … Continue reading →

Posted in California, International, Internet gambling, New York, Regulation | Comments Off on Tribes 1, NLRB 0; DFS on the rampage

Caesars gets nuked; Jerry Brown gets spanked

Posted on November 18, 2015 by David McKee

“It’s the ultimate nuclear option to try to go after debtors’ counsel.” That’s what Seton Hall University boffin Stephen Lubben says of junior bondholders’ latest ploy in their knock-down, drag-out fight with Caesars Entertainment. They’re accusing law firm Kirkland & … Continue reading →

Posted in California, Harrah's, International, Taxes, Tribal, Wall Street | Comments Off on Caesars gets nuked; Jerry Brown gets spanked

Quote of the Day

Posted on November 18, 2015 by David McKee

“We won’t make money at the expense of our employees.” — Sparks Nugget CEO Carlton Geer on the pay raises he instituted as part of a rejuvenation of the faded Reno-Sparks casino.

Posted in Reno | Comments Off on Quote of the Day

DFS: A patchwork of approaches

Posted on November 18, 2015 by David McKee

Although he’s been dissed by New Jersey Gov. Chris Christie (R) and the NCAA (because his bill would allow daily fantasy sports to include college athletes), state Sen. James Whelan (D, right) presses on in his attempt to regulate DFS … Continue reading →

Posted in Atlantic City, Geoff Freeman, Harry Reid, Internet gambling, Marketing, Massachusetts, New York, Pennsylvania, Politics, Regulation, Sports | Comments Off on DFS: A patchwork of approaches

Boyd ‘upbeat’ on Wall Street; Wynn Palace on hold

Posted on November 18, 2015 by David McKee

Boyd Gaming CEO Keith Smith and CFO Josh Hirsberg lunched with Deutsche Bank‘s Carlo Santarelli, who found their mood bright and shiny. “Management remains confident that if current [Las Vegas] locals and regional gaming revenue trends hold firm, it can continue to … Continue reading →

Posted in Boyd Gaming, Economy, Macau, Melco Crown Entertainment, Steve Wynn, Uncategorized, Wall Street | Comments Off on Boyd ‘upbeat’ on Wall Street; Wynn Palace on hold

The wacky world of Glenn Straub; New York rescuer for DFS

Posted on November 17, 2015 by David McKee

Instead of hassling Stockton University over ownership of the Showboat (and losing), perhaps Glenn Straub should have been developing a long-range plan for heating Revel through the winter, so that the pipes don’t freeze and burst. His solution? Bring in … Continue reading →

Posted in Atlantic City, Entertainment, Glenn Straub, Internet gambling, New York, Ohio, Pennsylvania, Politics, Regulation, Revel, Transportation, Wall Street | 1 Comment

Up and down the Strip

Posted on November 17, 2015 by David McKee

SLS Las Vegas is finally doing better, if by “doing better” you mean losing only $39 million in a full 3Q15 as opposed to the $46 million lost in the truncated (five-week) 3Q14. Stockbridge Capital Partners continues to have to … Continue reading →

Posted in Architecture, Cosmopolitan, Derek Stevens, Downtown, Economy, Fontainebleau, Genting, Harrah's, James Packer, Lucky Dragon, LVCVA, Marketing, MGM Mirage, Riviera, Sam Nazarian, Sheldon Adelson, SLS Las Vegas, Tamares Group, Taxes, The Strip, Wall Street | 2 Comments

Banks gun-shy on DFS; Aquinnah tribe suffers major defeat

Posted on November 16, 2015 by David McKee

Another day, another crisis for daily fantasy sports. This week, banks will be soul-searching, grappling with the question of whether to process DFS transactions or not. Market Watch polled some of the major financial institutions and found them taking a … Continue reading →

Posted in Internet gambling, Massachusetts, New York, Regulation, Tribal | Comments Off on Banks gun-shy on DFS; Aquinnah tribe suffers major defeat

The benefits of casino gambling make themselves felt

Posted on November 16, 2015 by David McKee

Minimum wages are a contentious issue on the campaign trail but a settled one at $450 million Stadium Casino. The in-progress Philadelphia gambling hall has committed to a $12/hour minimum wage for its construction and permanent personnel alike. That’s one … Continue reading →

Posted in Atlantic City, Charity, Cordish Co., Economy, Greenwood Racing, Internet gambling, Pennsylvania, Rhode Island, Taxes, Technology, Trump Entertainment Resorts | Comments Off on The benefits of casino gambling make themselves felt

Autumn chill in Atlantic City; Christmas present for VictoryLand

Posted on November 13, 2015 by David McKee

For the first time in over a year, there are no casino closings to be factored into Atlantic City‘s gaming revenue, no more same-store comparisons. So how did the Boardwalk fare? Even with an extra weekend day, revenue dipped 3%. … Continue reading →

Posted in Alabama, Atlantic City, Boyd Gaming, Harrah's, MGM Mirage, Mohegan Sun, Regulation, Technology, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts | 1 Comment

Good news in Massachusetts for DFS and tribe

Posted on November 13, 2015 by David McKee

Home team DraftKings (headquartered in Boston) got a vote of confidence from Massachusetts Gov. Charlie Baker (R), who opined that daily fantasy sports is a game of skill, not of chance. Last weekend, Baker tried a little DraftKings wagering himself … Continue reading →

Posted in Architecture, Internet gambling, Massachusetts, MGM Mirage, Neil Bluhm, New York, Politics, Regulation, Tribal | Comments Off on Good news in Massachusetts for DFS and tribe

Genting feels the heat; DraftKings fights back

Posted on November 13, 2015 by David McKee

All of sudden this week, Genting Group feels compelled to explain itself and declare that, yes, there really has been $50 million worth of construction activity at Resorts World Las Vegas, starting with the parking garage. (Perhaps the visible site preparation … Continue reading →

Posted in Election, Genting, Internet gambling, New York, Regulation, Sheldon Adelson, Technology, The Strip | Comments Off on Genting feels the heat; DraftKings fights back