Author Archives: David McKee

About David McKee

Bio

Missouri miracle; Guarded hope in Illinois, Indiana

Posted on November 10, 2014 by David McKee

Finally, there was good news for saturated gaming markets. Missouri was up 2% last month, although the result was a bit lopsided. The St. Louis market rose 3% while the Kansas City area slipped 2%. The latter appears to be … Continue reading →

Posted in Ameristar, Boyd Gaming, Donald Trump, GLPI, Harrah's, Illinois, Indiana, Majestic Star, MGM Mirage, Missouri, Neil Bluhm, Ohio, Penn National, Pinnacle Entertainment, Slot routes, Tropicana Entertainment | Comments Off on Missouri miracle; Guarded hope in Illinois, Indiana

Showman Steve; Who’ll take Bucharest?

Posted on November 6, 2014 by David McKee

Rather than hire out entertainment for his Wynncore showroom (the one not occupied by Le Reve), Steve Wynn has taken a DIY approach. He’s producing and co-writing Showstoppers, a revue of some of the most iconic songs from Broadway musicals. … Continue reading →

Posted in Cirque du Soleil, Columbia Sussex, Cordish Co., Current, Entertainment, Genting, Harrah's, International, Kentucky, Maryland, Penn National, Sports, Steve Wynn, The Strip | Comments Off on Showman Steve; Who’ll take Bucharest?

Quote of the Day

Posted on November 6, 2014 by David McKee

“At present, with shares trading at ~$24.75, we do not see a meaningfully favorable risk-reward. We detail our rationale in the body of this note, but, given financial leverage and the sensitivity to the equity value stemming from multiple contraction … Continue reading →

Posted in Pinnacle Entertainment, Wall Street | 1 Comment

Election ’14: The day after

Posted on November 6, 2014 by David McKee

MGM Resorts International didn’t wait for the ballots to get cold. It had equipment on site in downtown Springfield yesterday, conducting “geotechnical soil assessments” on the future site of the parking garage. Laying out a timeline for the project MGM … Continue reading →

Posted in Atlantic City, Boyd Gaming, California, Election, Georgia, Harrah's, Internet gambling, Massachusetts, MGM Mirage, PokerStars, Regulation, Sheldon Adelson, Tribal, Wall Street | 1 Comment

REITmania … it’s catching

Posted on November 6, 2014 by David McKee

Pinnacle Entertainment has signaled its intention to follow in the footsteps of Penn National Gaming and convert into a real estate investment trust. It’s somewhat clearer cut than the convoluted Penn/Gaming & Leisure Properties split, with Pinnacle’s property company retaining … Continue reading →

Posted in Ameristar, Colorado, Donald Trump, Election, Louisiana, Missouri, Penn National, Pinnacle Entertainment, Wall Street | 1 Comment

Election Special

Posted on November 5, 2014 by David McKee

Where gaming-related issues were concerned, there was one big race last night and a bunch of also-rans. The main event, of course, was Massachusetts, where casino repeal went down to defeat 60% to 40%, good news for Penn National Gaming, … Continue reading →

Posted in California, Colorado, Economy, Entertainment, Illinois, Isle of Capri, Kansas, Massachusetts, MGM Mirage, Penn National, Pinnacle Entertainment, Racinos, Rhode Island, South Dakota, Station Casinos, Steve Wynn, Tribal, Wisconsin | 2 Comments

Quote of the Day

Posted on November 5, 2014 by David McKee

“The policy of the central government in being very, very aggressive about what appeared to be a misconduct and corruption of the government has put a lot of the wealthy businessmen in the foxholes.” — Steve Wynn, on the decline … Continue reading →

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

Linking to The Linq; Tribal Internet push

Posted on November 4, 2014 by David McKee

After an unhappy interregnum as The Quad, the former Imperial Palace officially becomes The Linq today. (What was up with that Quad nonsense anyway?) It might as well be called “The Millennial,” given the number of amenities targeted to that … Continue reading →

Posted in California, Dining, Donald Trump, Environment, GTECH, Harrah's, IGT, Internet gambling, Technology, The Strip, Tribal | Comments Off on Linking to The Linq; Tribal Internet push

Case Bets: California, Boyd

Posted on November 4, 2014 by David McKee

Always cover your bets. That’s the lesson Sacramento‘s Casino Royale card room learned after being caught twice with a shortage of cash. The California Department of Justice had no patience this time and shuttered the casino, seeking a permanent revocation … Continue reading →

Posted in Uncategorized | Comments Off on Case Bets: California, Boyd

Decision time; Failure in Japan

Posted on November 4, 2014 by David McKee

Casino supporters showed up in force in Springfield, Massachusetts, touting the charitable benefits — not to mention the employment ones — that would stem from an MGM Resorts International casino. For instance, MGM would continue its sponsorship of a local … Continue reading →

Posted in Charity, Election, Genting, Harrah's, Japan, Massachusetts, MGM Mirage, Neil Bluhm, Politics, Sheldon Adelson | Comments Off on Decision time; Failure in Japan

Rough times in Macao; The NFL’s double standard

Posted on November 3, 2014 by David McKee

At least in relative, this month is shaping up as the worst in Macao‘s casino history, with the gambling industry looking at a 23% drop in gross receipts. And when 80% of your economy is predicated on casinos, you’ve got … Continue reading →

Posted in Architecture, Atlantic City, International, Macau, MGM Mirage, Regulation, Sheldon Adelson, South Korea, Sports, Steve Wynn | 2 Comments

Mark your ballots; Trump Taj: Welfare queen

Posted on November 3, 2014 by David McKee

Tomorrow we get to exercise that precious franchise, the vote. So don’t oversleep, ‘kay? As everyone knows by now, the big rumble is in Massachusetts, where an attempt to repeal the state’s casino law is failing by a substantial margin in … Continue reading →

Posted in Atlantic City, California, Colorado, Election, Kansas, Massachusetts, MGM Mirage, Penn National, Politics, Racinos, Regulation, Rhode Island, South Dakota, Station Casinos, Steve Wynn, Tribal, Trump Entertainment Resorts | Comments Off on Mark your ballots; Trump Taj: Welfare queen

Wynn’s oysters schucked

Posted on November 3, 2014 by David McKee

Details of Steve Wynn‘s site-remediation plan are starting to emerge and they include rendering tainted soil inert by mixing it with cement. What they don’t include anymore are oyster beds to process polluted Mystic River water. Government officials nixed this … Continue reading →

Posted in Atlantic City, Boyd Gaming, Environment, Harrah's, International, Internet gambling, Massachusetts, PokerStars, Politics, Steve Wynn, Terry Caudill, Transportation | 1 Comment

Unhappy Halloween

Posted on November 3, 2014 by David McKee

  Right-leaning Stand by Children Arizona, in the course of endorsing six GOP candidates, went a little screwy. Its poster art looks like something out of a cheap Fifties horror film, with zombie-faced Little Johnny’s proverbial one-room schoolhouse about to … Continue reading →

Posted in Downtown, Election, Tilman Fertitta | Comments Off on Unhappy Halloween

Boyd impresses the Street, MGM disappoints

Posted on October 31, 2014 by David McKee

Boyd Gaming pleased Wall Street with its 3Q14 results, of which Joseph Greff of J.P. Morgan said “margin improvement was notable and impressive.” He noted modest growth in the Las Vegas locals and downtown segments and better-than-expected regional numbers, as … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, Current, Downtown, Economy, Environment, Genting, Hawaii, Macau, MGM Mirage, Reno, Sam Nazarian, The Strip, Wall Street | Comments Off on Boyd impresses the Street, MGM disappoints

Feeling squeezed in Delaware, Indiana

Posted on October 31, 2014 by David McKee

No two ways about it, Delaware‘s racinos are failing. However, they have an ambitious plan to reverse that … providing the state is cooperative. One of the reasons the tracks are struggling is an onerous 40% tax rate on table … Continue reading →

Posted in Bally Technologies, Delaware, Economy, Maryland, Ohio, Politics, Racinos, Scientific Games, Technology, Tribal | Comments Off on Feeling squeezed in Delaware, Indiana

Friday Case Bets

Posted on October 31, 2014 by David McKee

America‘s second-largest casino market, Pennsylvania, has truly hit the jackpot, according to a new study by Oxford Economics. It addition to engendering 18,000 direct-employment jobs, casinos have generated economic impact of $6.2 billion and paid $2.4 billion in taxes, not to mention … Continue reading →

Posted in Arizona, Economy, Harrah's, Pennsylvania, Station Casinos, The Strip, TV | Comments Off on Friday Case Bets

NHL maybe, NBA not so much

Posted on October 30, 2014 by David McKee

“Preliminary talks” could mean relatively nothing but when one of the principal parties is MGM Resorts International, you have to take them seriously … especially when MGM is building an arena intended for major-league sports. Still, there don’t appear to … Continue reading →

Posted in Archon Corp., Entertainment, MGM Mirage, Sports, The Strip | 1 Comment

Quote of the Day

Posted on October 30, 2014 by David McKee

“Reneging on the promise to Springfield won’t just disappoint the community leadership and those hopeful citizens whose futures might ride on this particular economic development project; going back now will also hurt the efforts of all those who try to … Continue reading →

Posted in Economy, Election, Massachusetts, MGM Mirage | Comments Off on Quote of the Day

Clashing views on MGM; Shotgun wedding in Pennsylvania

Posted on October 30, 2014 by David McKee

MGM Resorts International‘s third quarter was “better than expected” if you were J.P. Morgan analyst Joseph Greff and “disappointing” if you are Deutsche Bank‘s Carlo Santarelli. It’s a matter of how MGM performed relative to analyst forecasts. While the Las Vegas Strip … Continue reading →

Posted in Cannery Casino Resorts, CityCenter, Detroit, GLPI, Harrah's, Macau, Mississippi, Pennsylvania, The Strip, Wall Street | Comments Off on Clashing views on MGM; Shotgun wedding in Pennsylvania