Author Archives: David McKee

About David McKee

Bio

Could saturation have peaked?

Posted on February 10, 2015 by David McKee

It’s a banner day when casino revenues in Illinois grow 8.5%. It’s no illusion: In context, $115.5 million is a pretty good haul. A downward spiral in gas prices may already be showing up in slot hoppers and drop boxes. … Continue reading →

Posted in Ameristar, Boyd Gaming, Economy, Entertainment, Foxwoods, GLPI, Harrah's, Illinois, Isle of Capri, MGM Mirage, Mohegan Sun, Neil Bluhm, Penn National, Pinnacle Entertainment, The Strip, Tropicana Entertainment, Wall Street, Warner Gaming | 1 Comment

Straub’s time runs short; Smoke gets in Macao’s eyes

Posted on February 10, 2015 by David McKee

Glenn Straub may be $10 million the poorer after yet another deal for Revel has come apart at the seams. Straub wanted to expunge any obligations to Revel tenants. Federal courts would not let him. And, upon that impasse, the … Continue reading →

Posted in Architecture, Atlantic City, Downtown, Economy, Environment, George Maloof, Hard Rock International, Harrah's, history, Macau, Revel, Steve Wynn | 1 Comment

Leaning Tower of Vegas

Posted on February 10, 2015 by David McKee

OK, the Clarion/Greek Isles/Royal Resort/Royal Americana/Paddlewheel and erstwhile Debbie Reynolds Hollywood Hotel wasn’t a grand implosion and there was a bit of a malfunction with the elevator core, what? But we’ll take what we can get when it comes to … Continue reading →

Posted in history, The Strip | 2 Comments

The fall and rise of Gary Loveman

Posted on February 6, 2015 by David McKee

In a bankruptcy as enormous as that of Caesars Entertainment, you would expect its primary culprit to be held responsible — and this has happened, after a fashion. Gary Loveman is relinquishing his titles as president and CEO, but will … Continue reading →

Posted in Carl Icahn, Harrah's, history, Wall Street | 4 Comments

One man’s toxic waste …

Posted on February 6, 2015 by David McKee

… is Steve Wynn‘s treasure. Reader thsully1 has supplied us with these photos of Wynn’s casino site in Everett. Mentally superimpose Wynn Las Vegas and decide if you’d like to go there or not. “The site is sandwiched in between … Continue reading →

Posted in Australia, Foxwoods, Macau, Massachusetts, Melco Crown Entertainment, MGM Mirage, Mohegan Sun, Neil Bluhm, Philippines, Sheldon Adelson, South Korea, Stanley Ho, Steve Wynn | Comments Off on One man’s toxic waste …

Case Bets

Posted on February 6, 2015 by David McKee

A lengthy bout of bronchitis has kept me out of action, but I’m finally on the mend and apologize for all the news coverage I missed, such as … * First there was Deflategate. Now there’s Menzelgate. Could Idina Menzel … Continue reading →

Posted in Donald Trump, Entertainment, Internet gambling, Iowa, Mississippi, Regulation, South Dakota, Sports | Comments Off on Case Bets

Addition in Mississippi; Subtraction in Atlantic City; Gluttony in Las Vegas

Posted on January 29, 2015 by David McKee

It was all there in black and white: $935 million in state and federal taxes paid, and $4 billion in economic. That’s what Mississippi casinos achieved, despite two closures. “The numbers reflect we’re doing OK here in Mississippi,” understated Mississippi Gaming & … Continue reading →

Posted in Atlantic City, Dining, Economy, Glenn Straub, Louisiana, Marketing, Mississippi, Missouri, Revel, Taxes, The Strip | 1 Comment

Dismay in Wisconsin; Disorder at SLS

Posted on January 29, 2015 by David McKee

Wisconsin Gov. Scott Walker (R) has managed to bring Democrats and Republicans together — in opposition to his decision to nix a proposed Menominee Nation casino. Lawmakers cited the $250 million bond posted by the Menominee and the tribe’s promise … Continue reading →

Posted in Dining, Economy, Illinois, International, Internet gambling, James Packer, Politics, Regulation, Sam Nazarian, The Strip, Tribal, Wisconsin | Comments Off on Dismay in Wisconsin; Disorder at SLS

Weak quarter for Las Vegas Sands; Penn weathers a blow

Posted on January 29, 2015 by David McKee

There was definitely some grit in the 4Q14 financial results for Las Vegas Sands‘ Strip properties. Table play was down $102 million, or 16%. And those players who showed up played lucky. Table revenue was down 26%, or $37 million. … Continue reading →

Posted in California, Election, Harrah's, Indiana, Japan, Macau, Massachusetts, MGM Mirage, Penn National, Racinos, Sheldon Adelson, Singapore, The Strip, Tribal, Wall Street, West Virginia | Comments Off on Weak quarter for Las Vegas Sands; Penn weathers a blow

Super Bawl

Posted on January 28, 2015 by David McKee

Never mind that it’s one of the biggest weekends in Sin City, the National Football League continues to stick its fingers in its ears when it comes to casinos that dare whisper the words “Super Bowl.” Not only must Las Vegas … Continue reading →

Posted in Architecture, Arizona, Economy, Geoff Freeman, Regulation, Sports, The Strip, Tribal | Comments Off on Super Bawl

Case Bets: IGT, Hard Rock, Golden Gaming

Posted on January 28, 2015 by David McKee

Profits were slimmer for International Game Technology in 1Q15, with the company reporting $35 million, 56% less than a year ago. IGT, which is in the process of being acquired by GTECH, offered little commentary on the results. CEO Patti … Continue reading →

Posted in Colorado, Columbia Sussex, Dining, Harrah's, Lake Tahoe, Lyle Berman, Maryland, Regulation, Sam Nazarian, Slot routes, Warner Gaming | 1 Comment

Caesars wins big

Posted on January 28, 2015 by David McKee

Ruling earlier than expected, U.S. Bankruptcy Court Judge Kevin Gross handed Caesars Entertainment a massive, possibly decisive victory in its bankruptcy fight, transferring the case from Wilmington to Chicago. Gross ruled that Caesars, despite some behavior that “on its face … Continue reading →

Posted in Current, Delaware, Harrah's, Illinois, Wall Street | 1 Comment

Caesars on the defensive

Posted on January 27, 2015 by David McKee

It’s Chicken Little time at Caesars Entertainment, where the company is sketching gloom-and-doom scenarios unless the court system goes along with its preferred timeline for a prepackaged bankruptcy. “If you go to the earlier filing day, you likely jettison the [restructuring support agreement],” … Continue reading →

Posted in Carl Icahn, Delaware, Environment, Fontainebleau, Harrah's, Illinois, Louisiana, Wall Street | Comments Off on Caesars on the defensive

Hard Rock back to A.C.?; Today Massachusetts, tomorrow Vermont?

Posted on January 27, 2015 by David McKee

New investment in Atlantic City has yet to materialize, yet the New Jersey Casino Control Commission‘s holding of a hearing for Hard Rock International is encouraging. It’s a purely theoretical exercise, a determination of suitability. Its goal, however, is for … Continue reading →

Posted in Economy, Glenn Straub, Hard Rock International, Nebraska, Politics, Regulation, Revel, Vermont | Comments Off on Hard Rock back to A.C.?; Today Massachusetts, tomorrow Vermont?

Golden, Scientific on the move

Posted on January 26, 2015 by David McKee

Golden Gaming continues to absorb its competitors. Its latest acquisition is Lakes Entertainment, one of the most venerable names in Midwestern gambling. Golden will pay a 37% premium to purchase Lakes at $9.57 a share. While 64% of shareholders will … Continue reading →

Posted in Bally Technologies, Golden Gaming, Horseracing, IGT, Kentucky, Maryland, Ohio, Scientific Games, Slot routes, Technology, Wall Street, WMS Industries | Comments Off on Golden, Scientific on the move

Where will the Caesars fight be fought?

Posted on January 26, 2015 by David McKee

In the battle between Caesars Entertainment and its dissident creditors, the opening route — the choice of venue — may be the decisive one. As noted previously, Caesars wants the case heard in Chicago and not in Wilmington, even though … Continue reading →

Posted in Delaware, Economy, Harrah's, Illinois, Macau, Massachusetts, MGM Mirage, Sports, The Strip, Wall Street | Comments Off on Where will the Caesars fight be fought?

Possible Pennsylvania cutback?; Prudes pressured Walker

Posted on January 26, 2015 by David McKee

Once casinos move to fill a vacuum, it’s difficult to push them back. But that’s what Pennsylvania state Rep. Will Talman (R) is trying to do. He’s proposing a bill to close Keystone State casinos nightly between 2 a.m. and … Continue reading →

Posted in International, Iowa, Macau, Pennsylvania, Politics, Regulation, Sheldon Adelson, Slot routes, Tribal, Wisconsin | Comments Off on Possible Pennsylvania cutback?; Prudes pressured Walker

Adelson gives himself promotion; Making Macao family friendly

Posted on January 23, 2015 by David McKee

With Edward Tracy retiring and Rob Goldstein only undertaking the presidency of Sands China on an interim basis, Sheldon Adelson has named himself CEO of Sands China in addition to Las Vegas Sands. This is viewed as a positive move, … Continue reading →

Posted in Architecture, Economy, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Sheldon Adelson, Singapore, Steve Wynn | Comments Off on Adelson gives himself promotion; Making Macao family friendly

Stir crazy in Massachusetts

Posted on January 23, 2015 by David McKee

For all the restrictions it has placed upon its casinos, there’s one restraint the Massachusetts Gaming Commission wants to ease. It has proposed raising the $600 ‘IRS lockdown’ imposed on slot winners: “a player will not be able to play … Continue reading →

Posted in Environment, Louisiana, Massachusetts, Ohio, Penn National, Regulation, Rhode Island, Taxes | Comments Off on Stir crazy in Massachusetts

Possible rescue for Delaware tracks; New boss in Atlantic City

Posted on January 23, 2015 by David McKee

Going against Gov. Jack Markell (D), Delaware lawmakers are wrapping up a relief package for the state’s beleaguered racino industry. The tax rate on table games would be cut from 29% to 15% and the $3 million licensing fee would … Continue reading →

Posted in Atlantic City, Cordish Co., Delaware, Harrah's, Maryland, Politics, Racinos, Taxes | Comments Off on Possible rescue for Delaware tracks; New boss in Atlantic City