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- David McKee on Sibella scandal spreads; Supremes forestall Seminoles
- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
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Author Archives: David McKee
In case you missed it …
… we had a bit of excitement yesterday at McCarran International Airport. According to British Airways, its jetliner experienced “a technical issue.” Ya think? Major props to the Clark County Fire Department for quenching the potential disaster, the worst in … Continue reading
Posted in Uncategorized
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Quote of the Day
“August was a strong month for Horseshoe Cleveland. We had some exciting summer promotions and there was a lot happening downtown that brought guests in throughout the month.” — Horseshoe spokesperson Shannon Mortland, trying to rationalize the casino’s declining revenues.
Posted in Dan Gilbert, Harrah's, Ohio
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Case Bets: Caesars, Detroit, New York & Steve Wynn
In one of the industry’s more bizarre developments, Harrah’s Tunica will become an assisted-living facility if buy TJM Properties has its druthers. Caesars Entertainment Operating Co. has asked a bankruptcy court to approve the sale. It won’t bring in that … Continue reading
Posted in Detroit, Economy, G2E, Harrah's, International, Internet gambling, Massachusetts, MGM Mirage, Mississippi, New York, Regulation, Steve Wynn, Technology, Transportation
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Indiana stumbles; “Green shoots” in Macao
Foot traffic was down 15% in Indiana casinos last month and even though players spent 10%, it wasn’t quite enough to stave off a 7% decline. (The numbers are worse if you don’t count free play as revenue, which Indiana … Continue reading
Posted in Boyd Gaming, Economy, Full House Resorts, Genting, GLPI, Harrah's, Indiana, Internet gambling, Macau, Ohio, Penn National, Pinnacle Entertainment, Racinos, Singapore
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Ohio: Dan Gilbert’s downfall; Icahn meets Randy the Rat
Ohio‘s slot hoppers have been emptied for August and it was a month marked by some dramatic swings of fate. Belterra Park‘s $6 million haul won’t blow anybody away but, at $145/slot/day, it’s doing an acceptable average and improved 41% … Continue reading
Posted in Atlantic City, Carl Icahn, Dan Gilbert, Eldorado Resorts, Environment, GLPI, Hard Rock International, Harrah's, International, Ohio, Penn National, Pinnacle Entertainment, Trump Entertainment Resorts, Unite-Here
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Priced to move
In an effort to reduce leverage from its takeover by Gtech, manufacturer International Game Technology is putting its Las Vegas headquarters on the market. Act fast: You can still get this 33-acre facility at “a significant discount.”
Quote of the Day
“They are generous, mother-worshippers, sentimental and capable of much kindness. They are also ruthless, cruel, violent and devoid of scruples.” — Noel Coward, on the Mob members he ran across when playing the Desert Inn in 1955.
Disappointment in Illinois; Wynn’s new crib
One less weekend day doesn’t wholly explain the tepid results from Illinois in August. Harrah’s Joliet was down a dramatic 14%, while Hollywood Aurora was off 10% and Empress Joliet slipped 3%. Even seemingly invulnerable Rivers Casino in Des Plaines … Continue reading
Posted in Boyd Gaming, Dining, Economy, GLPI, Harrah's, Illinois, MGM Mirage, Penn National, Pinnacle Entertainment, The Strip, Tropicana Entertainment, Wall Street
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Potential free-for-all in Massachusetts; Tribal triumph in Alabama
Massachusetts Attorney General Maura Healey took time out from impeding Steve Wynn‘s Everett casino to run a cart and horses through the Legislature’s carefully crafted three-casinos-and-one-slot-parlor formula. She approved a ballot question that seemed tailor-made to give Suffolk Downs racino status, … Continue reading
Posted in Alabama, Atlantic City, Delaware, Election, Harrah's, Internet gambling, Massachusetts, Pennsylvania, Racinos, Regulation, Sheldon Adelson, Steve Wynn, Technology, Tribal
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Reality check at Sands; Bonanza in Baltimore
Sheldon Adelson risks making himself look in denial with his continuing insistence that the economic troubles in Macao are cyclical. This is B.S.: There has never been a ‘cycle’ in Macao of such depth or duration. Adelson’s Pollyanna attitude contrasts … Continue reading
Posted in Economy, Harrah's, Japan, Macau, Marketing, Maryland, Sheldon Adelson, Singapore, Taxes, Technology, The Strip, Wall Street
1 Comment
Bidding war in cyberspace; Adelson flexes Macao muscles
Having been outbid by GVC Holdings and jilted by Bwin.Party Digital Entertainment, Israeli-based 888 Holdings is upping the ante again in what is shaping up as the bidding war of the year. Meanwhile, Internet gamblers can look forward to a new … Continue reading
Posted in Galaxy Entertainment, International, Macau, Neil Bluhm, New York, Racinos, Sheldon Adelson, Stanley Ho
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Isle trends upward; Free the Texas ponies!
Add Isle of Capri Casinos to the list of companies enjoying a positive turn in their fortunes. It reported an operating profit of $57.5 million, a 15% increase. The biggest cash cow was Isle Pompano Park, hauling in $42 million, … Continue reading
Posted in Arkansas, Colorado, Florida, Horseracing, IGT, Iowa, Isle of Capri, Kentucky, Louisiana, Mississippi, Missouri, Pennsylvania, Politics, Racinos, Technology, Texas, Tilman Fertitta, Wall Street
2 Comments
Turmoil along the Boardwalk
Cult figure Glenn Straub is back in the news again, if indirectly. Stockton University has received Superior Court Judge Julio Mendez‘s blessing to sell the former Showboat and Mendez has enjoined the obstreperous Straub from challenging the sale. Stockton is thereby … Continue reading
Wynn gets one step closer; Those insidious resort fees
“At moments like this, there is certainly a feeling of gratification and forward movement. It lifts our spirits and energizes us.” Thus spake Steve Wynn after Wynn Everett cleared another hurdle on its way to completion. A 27-page memo from Massachusetts … Continue reading
Posted in Economy, Macau, Massachusetts, New York, Regulation, Sports, Steve Wynn, The Strip, Tourism, Transportation, Tribal
1 Comment
Quote of the Day
“We believe replacement activity will continue to plod along at trough levels and we see a more muted expansion pipeline in the US.” — Deutsche Bank analyst Carlo Santarelli, in the course of upgrading Scientific Games from “sell” to “hold.”
Posted in Economy, Scientific Games, Wall Street
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The Strip is all right
A 2% decline in July revenues on the Strip may not seem like good news but the casinos were competing against the anniversary of a very good month for baccarat last year. By comparison, this July saw players drop 35% … Continue reading
Posted in Boulder Strip, Downtown, Economy, Hard Rock International, Lake Tahoe, Laughlin, Marketing, MGM Mirage, North Las Vegas, Reno, Seminole Tribe, The Strip, Wall Street
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SLS: Sinking less slowly
Judging by the looks of this going-out-of-business sale at SLS Las Vegas (and the exorcism of the Fred Segal name from the Web site), more rats are scurrying off Sam Nazarian‘s sinking ship. It makes me sorry my wife and … Continue reading
Posted in Sam Nazarian, SLS Las Vegas, The Strip
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Maryland to players: Drop dead
If you suddenly find that you’re in a Free State casino and your gambling budget doesn’t go as far as it once did, you can thank the Maryland Lottery & Gaming Control Commission. It’s prepared to vote on a staff-recommended change that … Continue reading
Posted in Cordish Co., Environment, Harrah's, Massachusetts, Ohio, Penn National, Regulation, South Dakota, Tribal, West Virginia
1 Comment
Atlantic City profits grow; Good and bad news for Caesars
Second-quarter operating profits in Atlantic City were up everywhere except for — you guessed it — Trump Taj Mahal. The Taj swung from a $2 million profit in 2Q14 to a $900,000 loss, another testament to CEO Bob Griffin‘s inspiring leadership. … Continue reading
Posted in Arizona, Atlantic City, Boyd Gaming, Carl Icahn, Genting, Georgia, Harrah's, history, International, Mohegan Sun, Politics, Regulation, Revel, Sheldon Adelson, Technology, The Strip, Tilman Fertitta, Tribal, Trump Entertainment Resorts
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Caesars, O’Malley flunk key tests
Caesars Entertainment got caught with its pants down by Howard Stutz, who wrote that the company “committed public relations suicide” by lavishing a $200,000 bonus on General Counsel Tim Donovan. This is the same Caesars that is trying to stiff … Continue reading
Posted in Atlantic City, California, Election, Entertainment, G2E, Harrah's, Maryland, Mohegan Sun, Taxes, Technology, The Strip, Tribal, TV
1 Comment