Author Archives: David McKee

About David McKee

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Atlantic City rings the cash register; Adelson loses (again)

Posted on May 26, 2015 by David McKee

Operating profits in Atlantic City don’t tell the whole story: The Showboat was notoriously in the black when Caesars Entertainment closed it but the company said it was running at a loss … thanks to interest payments with which CEO … Continue reading →

Posted in Atlantic City, Boyd Gaming, Dennis Gomes, Economy, Genting, Harrah's, Macau, Melco Crown Entertainment, Mississippi, Mohegan Sun, Sheldon Adelson, Stanley Ho, Steve Wynn, Trump Entertainment Resorts | Comments Off on Atlantic City rings the cash register; Adelson loses (again)

Quote of the Day

Posted on May 26, 2015 by David McKee

“You can go to any country club in Alabama on Saturday night and get into a high-stakes poker game … You let the tribes operate gambling and people perceive that Indians and money are incompatible.” — Poarch Band of Creek Indians … Continue reading →

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

Louisiana’s bonny April; Nevada Gold now with 100% more Nevada

Posted on May 22, 2015 by David McKee

Golden Nugget Lake Charles continues to be the outboard engine that speeds up Louisiana gaming revenues. The Pelican State was up 4% last month — but 13% when Tilman Fertitta‘s casino is added to the tally. It even made inroads … Continue reading →

Posted in Boyd Gaming, Churchill Downs, Genting, GLPI, Harrah's, Isle of Capri, Louisiana, Macau, MGM Mirage, Pinnacle Entertainment, Racinos, Slot routes, South Dakota, South Korea, Stanley Ho, Tilman Fertitta, Tropicana Entertainment | Comments Off on Louisiana’s bonny April; Nevada Gold now with 100% more Nevada

Quote of the Day

Posted on May 22, 2015 by David McKee

“There are actual reports posted as to where the ATMs were that cards were used by Kansas residents … at liquor stores, cigarette shops, strip joints. Casinos was another.” — state Sen. Caryn Tyson (R), justifying the state’s crackdown on welfare recipients.

Posted in Kansas | Comments Off on Quote of the Day

New York’s big score; Tribe wins in California

Posted on May 22, 2015 by David McKee

Various law enforcement agencies are richer to the tune of $9.6 million after nailing an offshore betting ring that extended all the way to Panama. The case started humbly enough, with some Albany County jail officers found to be involved … Continue reading →

Posted in California, Florida, International, Internet gambling, New York, Oklahoma, Penn National, Regulation, Technology, Tribal | Comments Off on New York’s big score; Tribe wins in California

Sheldon steps in it; Tomato King to the rescue

Posted on May 21, 2015 by David McKee

Las Vegas Sands‘ CEO Sheldon Adelson’s pet piece of legislation, “Restoring America’s Wire Act” turns out to have a raft of unintended consequences, several of which would kneecap the casino industry. For one, it would ban mobile gambling, which is … Continue reading →

Posted in International, Penn National, Pennsylvania, Politics, Racinos, Regulation, Sheldon Adelson, Sports, Technology, Tomato King Procacci | Comments Off on Sheldon steps in it; Tomato King to the rescue

Penn “upbeat” about future; Connecticut tribes closer to new casino

Posted on May 20, 2015 by David McKee

Penn National Gaming CEO Tim Wilmott recently broke bread with J.P. Morgan analyst Joseph Greff, who found Penn management “positive and primarily focused on PENN’s robust development pipeline,” which it thinks will produce improved cash flow even before the Tropicana … Continue reading →

Posted in Alex Yemenidjian, California, Florida, Foxwoods, Hard Rock International, Harrah's, Massachusetts, Mohegan Sun, Penn National, Racinos, Rhode Island, Station Casinos, The Strip, Tribal, Wall Street | Comments Off on Penn “upbeat” about future; Connecticut tribes closer to new casino

MGM rebellion quashed; No ‘Net poker for Mississippi

Posted on May 20, 2015 by David McKee

Jonathan Litt‘s battle for control of MGM Resorts International‘s destiny is over almost before it was begun. His Land & Buildings firm has dropped its slate of candidates for the MGM board of directors, after failing to gain traction with … Continue reading →

Posted in Environment, Internet gambling, MGM Mirage, Mississippi, Sheldon Adelson, Sports, Steve Wynn, Taxes, The Strip, Wall Street | Comments Off on MGM rebellion quashed; No ‘Net poker for Mississippi

Ghosts of projects past; Alabama rethinks gambling

Posted on May 18, 2015 by David McKee

With so much Las Vegas Strip acreage either in flux (Tropicana Las Vegas, Hooters Casino Hotel) or newly on the market (“Project Jackpot”), CBRE Las Vegas has been moved to unleash 60.5 acres on Harmon Avenue that were the graveyard … Continue reading →

Posted in Alabama, Hard Rock Hotel, history, Hooters, Penn National, Planet Hollywood, Racinos, Taxes, The Strip, Tribal | 1 Comment

Loveman’s best decision; New face at Bellagio

Posted on May 18, 2015 by David McKee

Caesars Entertainment CEO Gary Loveman‘s decision to pull out of the troubled Baha Mar metaresort may represent one of the best judgment calls he ever made. The $3 billion Bahamas resort has missed three deadlines to open and has received the … Continue reading →

Posted in Australia, Genting, Harry Reid, International, Macau, MGM Mirage, Sam Nazarian, South Korea, The Strip | 1 Comment

Massachusetts: And then there were two

Posted on May 18, 2015 by David McKee

Last Thursday, casino boosters from Somerset were expected to show up a Massachusetts Gaming Commission hearing and ask for yet another delay to get their act together. Instead, they surprised the MGC and the rest of us by simply pulling … Continue reading →

Posted in Foxwoods, Internet gambling, Massachusetts, New York, Politics, Racinos, Regulation, Sports, Technology | Comments Off on Massachusetts: And then there were two

Quote of the Day

Posted on May 14, 2015 by David McKee

“Wisconsin cannot have it both ways. The state must entirely prohibit poker within its borders if it wants to prevent the [Ho-Chunk] Nation or any other Indian tribe from offering poker on the tribe’s sovereign lands. When the state decriminalized hosting … Continue reading →

Posted in Uncategorized | Comments Off on Quote of the Day

Behind the Showboat sale; Cosmo comeback

Posted on May 14, 2015 by David McKee

During its crusade to drive Stockton University out of the Showboat, the CEO of Trump Entertainment Resorts, Robert Griffin airily informed Stockton representatives that they should buy Trump Plaza instead — puncturing TER’s public posture that college kids should be kept … Continue reading →

Posted in Atlantic City, Cosmopolitan, Economy, Glenn Straub, Harrah's, Politics, Steve Wynn, The Strip, Trump Entertainment Resorts | Comments Off on Behind the Showboat sale; Cosmo comeback

New life for the Trop?; Paragon’s latest trophy

Posted on May 14, 2015 by David McKee

David G. Schwartz muses on the brave, new world at the Tropicana Las Vegas — soon with 100% more Penn National Gaming. He assesses it as a win for both parties. Penn gets a foothold at a strategic crossroads on … Continue reading →

Posted in Alex Yemenidjian, Baseball, Colony Capital, Columbia Sussex, Donald Trump, Entertainment, Hard Rock Hotel, history, M Resort, MGM Mirage, Penn National, Riviera, Sahara, Sheldon Adelson, Singapore, Station Casinos, The Strip, Transportation, Westgate LV | Comments Off on New life for the Trop?; Paragon’s latest trophy

April is the cruelest month for Atlantic City

Posted on May 13, 2015 by David McKee

Not only did players put dramatically less money onto the tables and into the slots but Atlantic City casinos had a run of bad luck last month. All of these factors contributed to a 17% decline. When the four closed … Continue reading →

Posted in Atlantic City, Boyd Gaming, Entertainment, Harrah's, Internet gambling, MGM Mirage, Mohegan Sun, The Strip, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts | 1 Comment

Long road back for Macao; Phua case becomes a federal obsession

Posted on May 13, 2015 by David McKee

Macao‘s status as shorthand for “corruption” got another bump this week when it was announced that former bureaucrat Li Huabo had gambled away $4 million in the casino enclave, then absconded with $16 million in stolen. As deleterious as that … Continue reading →

Posted in Australia, Downtown, Economy, Harrah's, Macau, Philippines, Sheldon Adelson, SLS Las Vegas, Sports, The Strip, Tourism, Vietnam, Wall Street | Comments Off on Long road back for Macao; Phua case becomes a federal obsession

Caesars rethinks pensions; Bluhm wins in Massachusetts

Posted on May 13, 2015 by David McKee

Caesars Entertainment has been feeling the heat for cutting off pension payments to 340 current and former executives. By lumping them in with other unsecured creditors, it gave itself a rationale for the severed payouts, leaving the pensioners to face … Continue reading →

Posted in Foxwoods, Harrah's, Massachusetts, Neil Bluhm, Regulation, Sheldon Adelson, The Strip | 1 Comment

Glenn Straub: The Omega Man

Posted on May 13, 2015 by David McKee

Glenn Straub‘s public image as an ADD-afflicted flake won’t be helped by a recent Bloomberg Business story that outlined the latest twist in his ever-shifting plans for Revel: Straub wants to turn it into a hotspot for cryogenics, of which … Continue reading →

Posted in Atlantic City, Donald Trump, Florida, Revel, Sports, Tourism, Transportation | 2 Comments

Et tu, Harry?; It’s a new era in Manila

Posted on May 12, 2015 by David McKee

Now that Sen. Harry Reid (D) has one foot out the door on Capitol Hill, he’s turning on the casino companies — particularly Caesars Entertainment — that helped him stay in power five years ago. Just when Sen. Lindsey Graham‘s … Continue reading →

Posted in Atlantic City, Delaware, Genting, Harrah's, Harry Reid, Internet gambling, Kazuo Okada, Melco Crown Entertainment, MGM Mirage, Philippines, Politics, Regulation, Sheldon Adelson, Singapore | Comments Off on Et tu, Harry?; It’s a new era in Manila

Adieu, Monte Carlo; Sunny April in Detroit

Posted on May 12, 2015 by David McKee

Judging from how it bastardized the Strip facade of Monte Carlo, it’s clear MGM Resorts International doesn’t quite know what to do with the place. CEO Jim Murren tacitly confirmed this recently when he said MGM was studying myriad options … Continue reading →

Posted in Architecture, CityCenter, Detroit, Harrah's, MGM Mirage, Station Casinos, The Strip, Tourism, Wall Street | Comments Off on Adieu, Monte Carlo; Sunny April in Detroit