Author Archives: David McKee

About David McKee

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Quote of the Day

Posted on October 23, 2015 by David McKee

“We have a belief our gaming license is a privilege and not a right. We have always been respectful of the Macao government’s desires. We were the pioneer of the integrated-resort business model. That’s what the government wants. We will continue … Continue reading →

Posted in Macau, Regulation, Sheldon Adelson, Steve Wynn | 1 Comment

Caesars: New wine in old bottle; The house that poker built

Posted on October 23, 2015 by David McKee

Starting Jan. 1 (What? No New Year’s Eve bookings?), guests at Caesars Palace will have the chance to stay in the new Julius Tower. Except that it’s not really new: It’s the old Roman Tower, given a dramatic, $75 million … Continue reading →

Posted in Architecture, California, Economy, Genting, Harrah's, Macau, Regulation, Sheldon Adelson, Singapore, Steve Wynn, The Strip | Comments Off on Caesars: New wine in old bottle; The house that poker built

Boyd: What’s not to like?; Poker cheat gets flushed

Posted on October 23, 2015 by David McKee

Try as it might, Boyd Gaming just doesn’t feel any warm fuzzies from Wall Street. J.P. Morgan analyst Joseph Greff called the most recent quarter “very impressive,” with 3% revenue growth and huge increases in cash flow. Still, Greff wrote, … Continue reading →

Posted in Atlantic City, Boyd Gaming, Environment, Harrah's, Hawaii, Internet gambling, Iowa, Louisiana, Penn National, Wall Street | Comments Off on Boyd: What’s not to like?; Poker cheat gets flushed

Adelson crashes MGM’s party; More trouble for DFS

Posted on October 22, 2015 by David McKee

Sheldon Adelson has a genius for sucking the air out of whatever room he enters. After MGM Resorts International laid the groundwork for a casino debate in Georgia, offering to invest $1 billion in an Atlanta pleasure palace, Adelson has … Continue reading →

Posted in Boyd Gaming, Donald Trump, Economy, Election, Florida, Georgia, International, Internet gambling, Kansas, Macau, Maryland, MGM Mirage, Penn National, Politics, Regulation, Sheldon Adelson, Singapore, The Strip | Comments Off on Adelson crashes MGM’s party; More trouble for DFS

All’s well at Penn; Mulroy’s misdeed; Discomfort at Studio City

Posted on October 22, 2015 by David McKee

Penn National Gaming pleasantly surprised Wall Street, reporting third-quarter revenue of $739 million and $210 million in cash flow, exceeding projections by $8 million and $11 million, respectively. It paid out $109 million in rent to Gaming & Leisure Properties … Continue reading →

Posted in California, Economy, Galaxy Entertainment, GLPI, Illinois, Lawrence Ho, Macau, Marketing, Massachusetts, Melco Crown Entertainment, MGM Mirage, Missouri, Ohio, Penn National, Regulation, Sports, Steve Wynn, The Strip, Tribal, Wall Street | Comments Off on All’s well at Penn; Mulroy’s misdeed; Discomfort at Studio City

Pennsylvania edges toward ‘Net bets; The forbidden dance

Posted on October 20, 2015 by David McKee

There’s nothing like a budget crisis and a partial government shutdown to focus lawmakers’ minds on gaming expansion. That’s the case in Pennsylvania, where House Majority Leader Dave Reed (R, right) says, “We need to come to a conclusion on liquor … Continue reading →

Posted in Election, Idaho, Pennsylvania, Politics, Regulation, Sheldon Adelson, Taxes, Tribal | 1 Comment

Quote of the Day

Posted on October 20, 2015 by David McKee

“Probably the [New Jersey] in me, but this should not be allowed to happen. Makes regulators look like their [sic] tools of casinos.” — Global Gaming Business Editor Roger Gros on Pat Mulroy‘s sudden move from the Nevada Gaming Commission to … Continue reading →

Posted in Regulation, Steve Wynn | 1 Comment

Macao rebukes Wynn

Posted on October 20, 2015 by David McKee

Steve Wynn‘s criticism of Macao governmental policy toward casinos as “outrageous and ridiculous … the single most counterintuitive and irrational decision that was ever made” went over like a lead balloon in China. Casino executives, including Wynn Macau President Gamal Aziz, … Continue reading →

Posted in Internet gambling, Macau, Massachusetts, Regulation, Sports, Steve Wynn, TV | Comments Off on Macao rebukes Wynn

Penn bullish on Trop; DraftKings can’t help itself

Posted on October 19, 2015 by David McKee

J.P. Morgan analyst Joseph Greff met with Penn National Gaming executives and found them very upbeat on the Tropicana Las Vegas, even though it grosses less than $54 million a year. “Of the three million Marquee Rewards members, Penn estimates … Continue reading →

Posted in Internet gambling, Marketing, Penn National, Regulation, The Strip, Wall Street | 2 Comments

Quote of the Day

Posted on October 19, 2015 by David McKee

“It’s a shot in the arm. But it’s not the silver bullet that’s going to solve our financial woes.” — Binghamton Mayor Richard David, whose city ranked dead last in civic optimism, on the selection of nearby Tioga Downs for … Continue reading →

Posted in Economy, New York, Racinos | Comments Off on Quote of the Day

James Packer thinks big; DFS’ self-inflicted wound

Posted on October 19, 2015 by David McKee

One scarcely thinks of Crown Resorts as anything but an upmarket brand. However, as it contemplates debuting in Las Vegas and pines after Japan, Crown is developing a new, luxury brand. The unlikely template will be a $1.1 billion, 90-story … Continue reading →

Posted in Australia, California, Delaware, Illinois, James Packer, Japan, Macau, Mississippi, Ohio, Pennsylvania, Regulation, Sheldon Adelson, Sports, The Strip | Comments Off on James Packer thinks big; DFS’ self-inflicted wound

Quote of the Day

Posted on October 16, 2015 by David McKee

“When you legalize a form of gambling, the state looks around, finds out what the highest rate is in the country, and then goes higher.” gaming-law expert I. Nelson Rose on what the daily fantasy sports industry should be prepared to … Continue reading →

Posted in Regulation, Sports, Taxes | Comments Off on Quote of the Day

Steve Wynn’s an unhappy camper

Posted on October 16, 2015 by David McKee

A decade ago, Steve Wynn would badmouth doing business in Nevada and warble sweet hymns to that capitalist’s paradise, China. How times change. On yesterday’s quarterly earnings call, Wynn was apoplectic about the Chinese government’s shifting policies in re Macao. “In … Continue reading →

Posted in Economy, Galaxy Entertainment, International, Lawrence Ho, Macau, Marketing, Melco Crown Entertainment, MGM Mirage, Regulation, Steve Wynn, The Strip, Wall Street | 4 Comments

DFS banned in Nevada

Posted on October 16, 2015 by David McKee

Well … not exactly, but the roof came crashing in for DraftKings, FanDuel and their ilk yesterday when the Nevada Gaming Commission sent them a cease-and-desist order, instructing that daily fantasy sports pools quit taking action from Nevada-based players until … Continue reading →

Posted in Foxwoods, Massachusetts, Mohegan Sun, Penn National, Regulation, Sports | Comments Off on DFS banned in Nevada

Fantastic month for Atlantic City; Gural gets his wish

Posted on October 15, 2015 by David McKee

As the window for apples-to-oranges comparisons of Atlantic City casino revenue closes, so does the gap between same-store and outright gross-gaming revenues. In September, casinos were up 10% on a same-store basis (i.e., excluding the four closed ones from the … Continue reading →

Posted in Atlantic City, Boyd Gaming, Election, Harrah's, Internet gambling, Massachusetts, MGM Mirage, Mohegan Sun, New York, Penn National, PokerStars, Regulation, Rhode Island, Tilman Fertitta, Tourism, Tropicana Entertainment, Trump Entertainment Resorts | Comments Off on Fantastic month for Atlantic City; Gural gets his wish

DFS rose fast, fell faster

Posted on October 15, 2015 by David McKee

This just in: Nevada has lowered the boom on DFS operators. The fat’s in the fire for daily fantasy sports — and New Jersey might want to rethink its push for unregulated sports betting in the Garden State. According to … Continue reading →

Posted in Atlantic City, Geoff Freeman, International, Louisiana, New York, Regulation, Sheldon Adelson, Sports, Texas, TV | Comments Off on DFS rose fast, fell faster

Station goes public; Florida compact near?

Posted on October 14, 2015 by David McKee

Having tried and failed to grow the company through an LBO, Station Casinos is returning to the public markets again, citing “favorable economic and market fundamentals” in support of an IPO. An executive shakeup that included the promotion of Rich Haskins … Continue reading →

Posted in Atlantic City, Boyd Gaming, Economy, Florida, Fontainebleau, Horseracing, Internet gambling, New York, Pennsylvania, Politics, Seminole Tribe, Sheldon Adelson, SLS Las Vegas, Station Casinos, Steve Wynn, Wall Street | Comments Off on Station goes public; Florida compact near?

Fourth time the charm?; Paging Sheldon Adelson

Posted on October 14, 2015 by David McKee

Gaming-management company Foundation Gaming Group likes DiamondJacks Casino in Vicksburg, it’s buying the place outright — a change of style for Foundation, which prefers running casinos to owning them. There may be some nostalgia in the decision by Foundation COO … Continue reading →

Posted in Colony Capital, Downtown, Genting, International, Isle of Capri, Louisiana, Mississippi, Sheldon Adelson, Technology, The Strip | 2 Comments

Quote of the Day

Posted on October 14, 2015 by David McKee

“I believe that UIGEA is the most overrated, misapprehended, misquoted and misunderstood Federal statute in gaming. It does not preempt state law and it does not prevent the state regulators and state law makers from making their own determinations as … Continue reading →

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

Quote of the Day

Posted on October 13, 2015 by David McKee

“Mr. Trump says, ‘Make America great again.’ Well, the Trump workers say, ‘Start here.’” —Trump International Hotel employee Maria Elena Durazo, calling for unionization of the hotel at a rally attended by Hillary Rodham Clinton, as reported by the Las … Continue reading →

Posted in Culinary Union, Donald Trump, Election, The Strip | Comments Off on Quote of the Day