Author Archives: David McKee

About David McKee

Bio

Packer plays musical chairs; Atlantic City … the rest of the story

Posted on August 13, 2015 by David McKee

A 41% dive in Crown Resorts prompted James Packer to resign his chairmanship of the company, handing his portfolio to Deutsche Bank veteran Robert Rankin. The change appears to be more cosmetic than substantive, seeing as the brawling billionaire will … Continue reading →

Posted in Atlantic City, Australia, Cannery Casino Resorts, Harrah's, Internet gambling, James Packer, Lawrence Ho, Macau, Marketing, Melco Crown Entertainment, Mohegan Sun, Stanley Ho, The Strip, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts | 1 Comment

Quote of the Day

Posted on August 13, 2015 by David McKee

“We are creating a caste system from which it’s almost impossible to escape, except for the few with exceptional brains, athletic skills or luck. That’s why I’m scared. We risk losing the capitalist engine that brought us great economic success … Continue reading →

Posted in Economy | Comments Off on Quote of the Day

Business heats up in Detroit, cools in Manila

Posted on August 12, 2015 by David McKee

Ohio? What’s Ohio? Casinos in Detroit may as well ask that as they continue to recover from the dent in their business made by the Buckeye State. July revenues were up 3% and, for the year to date, casino revenues … Continue reading →

Posted in Australia, Dan Lee, Detroit, Economy, Environment, Harrah's, Macau, Maryland, Melco Crown Entertainment, MGM Mirage, Ohio, Philippines, South Korea, Taxes | 2 Comments

Isle abandons ship; Borgata crushes Atlantic City; Radical move from Full House

Posted on August 12, 2015 by David McKee

Faced with a casino that had been generating negative return on investment for the past two years, Isle of Capri Casinos announced it was closing its 15-year-old Natchez riverboat and selling the accompanying hotel to Magnolia Bluffs Casino for $11.5 million. The … Continue reading →

Posted in Atlantic City, Boyd Gaming, Dan Lee, Indiana, Isle of Capri, Majestic Star, Mississippi, Ohio, Politics, Racinos, Wall Street | 1 Comment

Bluhm presses case in Massachusetts; Lawrence Ho tells it like it is

Posted on August 10, 2015 by David McKee

Despite having to wait at least until early next year to start building, a potential Brockton casino could be “up and running by 2018,” sometime in the second quarter, according to Neil Bluhm. “We are shovel-ready to go.” Unfortunately for … Continue reading →

Posted in Entertainment, Illinois, Lawrence Ho, Macau, Massachusetts, Melco Crown Entertainment, MGM Mirage, Neil Bluhm, Regulation, Sam Nazarian, Tribal | 1 Comment

Midwest shakes off malaise

Posted on August 10, 2015 by David McKee

Yes, there was an extra weekend day this year but let’s look at the glass half-full, as regional gaming markets shook off their malaise. Illinois was up 2% despite mild weakness in the St. Louis market. Empress Joliet (+10%) was … Continue reading →

Posted in Ameristar, Boyd Gaming, Dan Gilbert, Economy, Hard Rock International, Harrah's, Horseracing, Illinois, Indiana, Isle of Capri, Majestic Star, MGM Mirage, Missouri, Neil Bluhm, Ohio, Penn National, Pinnacle Entertainment, Racinos, Wall Street | Comments Off on Midwest shakes off malaise

What’s up, Macao?; Strange plan from Full House

Posted on August 6, 2015 by David McKee

Lawrence Ho minces few words in an interview with Bloomberg News about the autumn opening of Studio City, the $3.2 billion rescue project of Melco Crown Entertainment. It’s difficult to decide what’s strangest about the project. Is it having Batman, … Continue reading →

Posted in Dan Lee, Galaxy Entertainment, Indiana, Kentucky, Lawrence Ho, Macau, Melco Crown Entertainment, Ohio, Regulation, Transportation | Comments Off on What’s up, Macao?; Strange plan from Full House

Lucky Horseshoe for Maryland; Old McDonald had a casino

Posted on August 6, 2015 by David McKee

What would have been a revenue-negative July for Maryland casinos turned into their biggest month ever, thanks to Horseshoe Baltimore. Gaming revenue rose more $23 million, with all that and more coming from the Caesars Entertainment property. While the casino is … Continue reading →

Posted in Cordish Co., Cretins, Harrah's, Maryland, New York, Penn National, Racinos, Regulation, The Strip, Westgate LV | 1 Comment

Thought for the day

Posted on August 6, 2015 by David McKee

Many question Donald Trump‘s qualifications for the presidency of the United States. I do not. Why? What other past or present occupant of the Oval Office (or Republican candidate for president, for that matter) appeared in the 1989 Bo Derek … Continue reading →

Posted in Donald Trump, Election, Movies | Comments Off on Thought for the day

Boston: Smackdown for McCheese; Online gaming hopes fade

Posted on August 4, 2015 by David McKee

Boston Mayor Martin Walsh got a taste of his own medicine when a Suffolk Superior Court court judge put a beatdown on his sleazy legal tactics. Assertions by Boston attorneys, slipped in at the last minute, that the Massachusetts Gaming … Continue reading →

Posted in California, Harrah's, Horseracing, Internet gambling, Laughlin, Louisiana, Massachusetts, Penn National, Pennsylvania, Politics, Sheldon Adelson, Steve Wynn, Tribal | Comments Off on Boston: Smackdown for McCheese; Online gaming hopes fade

Macao: “Less bad”; MGM beats estimates

Posted on August 4, 2015 by David McKee

That’s how J.P. Morgan analyst Joseph Greff spun the latest numbers out of Macao, where gaming revenues plunged 34%, less than the year-to-date average of 37%. Mass table game winnings were up 11% from June, “more positive than we otherwise … Continue reading →

Posted in Atlantic City, Detroit, Economy, Illinois, Macau, Mississippi, Scientific Games, The Strip, Wall Street | 1 Comment

MGM’s cost-discipline difficulties; Wynn framed in Boston

Posted on August 3, 2015 by David McKee

As fast as MGM Resorts International can sell off non-core assets, the proceeds are consumed by new construction. Case in point: MGM National Harbor, whose initial $925 million cost has crept up to $1.3 billion. That’s money that can’t go … Continue reading →

Posted in Architecture, Boyd Gaming, CityCenter, Downtown, Harrah's, history, Illinois, Massachusetts, MGM Mirage, Penn National, Slot routes, Steve Wynn, The Strip | 1 Comment

McCain, NIGC butt heads; Paper Tiger

Posted on August 3, 2015 by David McKee

U.S. senators put the squeeze on the National Indian Gaming Commission and allies like the National Indian Gaming Association at a recent hearing. Sen. John Barrasso (R) put the gripes in a nutshell when he said, “The commission is not effectively … Continue reading →

Posted in Economy, Genting, Kazuo Okada, Macau, Melco Crown Entertainment, Philippines, Politics, Regulation, Sheldon Adelson, Tribal | Comments Off on McCain, NIGC butt heads; Paper Tiger

Adelson push stuck in the mud?; Alabama wants gambling

Posted on July 31, 2015 by David McKee

Tireless blogger Steve Ruddock contends that we have good reason to be optimistic about the fate of Sheldon Adelson‘s fatwa against Internet gambling. For starters, there’s the sheer slothfulness of Congress itself: How many times has it promised, say, comprehensive … Continue reading →

Posted in Alabama, California, Churchill Downs, Cosmopolitan, Election, Georgia, Internet gambling, Politics, Sheldon Adelson, Technology, The Strip, Tribal | Comments Off on Adelson push stuck in the mud?; Alabama wants gambling

Quote of the Day

Posted on July 31, 2015 by David McKee

“We build resorts and we are bringing to Boston a destination resort. Hopefully, they will treat us with softer hands. It will feel good when they stop hitting us.” — Steve Wynn, lamenting his treatment by Massachusetts officials.

Posted in Massachusetts, Steve Wynn | Comments Off on Quote of the Day

Meet Galaxy Entertainment; The lion grumbles; Steve Wynn gets in touch with inner Scrooge

Posted on July 31, 2015 by David McKee

In Macao, “a pharaonic exercise in overbuilding” may be a canny strategy for a post-crisis economy. Once the Chinese government drives the money launderers from the Macanese temple and develops adjacent Hengqin Island into a family friendly plethora of resorts … Continue reading →

Posted in Economy, Galaxy Entertainment, International, Macau, MGM Mirage, Regulation, Reno, Steve Wynn, The Strip, Tribal, Wall Street, Wisconsin | Comments Off on Meet Galaxy Entertainment; The lion grumbles; Steve Wynn gets in touch with inner Scrooge

Wynn splits expectations

Posted on July 30, 2015 by David McKee

Wynn Resorts split Wall Street expectations for cash flow in Macao last quarter, as well as on the Las Vegas Strip. Analyst Carlo Santarelli of Deutsche Bank said Wynn’s Vegas room revenue “wasn’t great” and characterized management’s projections as “a tad aggressive.” … Continue reading →

Posted in Cirque du Soleil, Downtown, Economy, Entertainment, Macau, Massachusetts, Planet Hollywood, Steve Wynn, Tamares Group, Technology, The Strip, Transportation, Wall Street | 1 Comment

Quote of the Day

Posted on July 28, 2015 by David McKee

“I shudder to think what Indian country would look like without the revenue that comes in from Indian gaming.” — Assistant Secretary for Indian Affairs Kevin Washburn, testifying on the financial impact of tribal casinos.

Posted in Economy, Tribal | Comments Off on Quote of the Day

This is Vegas on drugs

Posted on July 28, 2015 by David McKee
Posted in The Strip | Comments Off on This is Vegas on drugs

Venetian Bangkok?; Online gaming gains a champion

Posted on July 28, 2015 by David McKee

Las Vegas Sands has let it be known that, should Thailand legalize casinos, it would like to get a foot in the door — in the form of a metaresort like its $5.7 billion Marina Bay Sands in Singapore. That’s … Continue reading →

Posted in Florida, International, Japan, Seminole Tribe, Sheldon Adelson, Singapore, South Korea | Comments Off on Venetian Bangkok?; Online gaming gains a champion