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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
Foxwoods: Woody exits; Eldorado’s big gains
Foxwoods Resorts Casino‘s financial problems could hardly be called “solved,” but CEO Scott “Woody” Butera plans to leave next month anyway for a non-gaming job. He will continue to advise Foxwoods from his new perch, though, even dickering with the … Continue reading
Oh no, not him again!
Donald Trump is posturing as the potential rescuer of Trump Plaza and Trump Taj Mahal, provided he can get them dirt cheap. (Principal creditor Carl Icahn will have a thing or two to say about that.) In true Trump fashion, he … Continue reading
As Iowa goes, so goes America
If you need any evidence of the increasing American acceptance of casino gambling as an everyday activity, just look to Iowa. Two years ago, 69% of Iowans had gambled in the previous year. Now it’s up to 78%. Mind you, … Continue reading
Posted in Boulder Strip, Downtown, Economy, Herbst Gaming, Iowa, Problem gambling, Regulation, Station Casinos
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Case Bets: Multimedia, Philadelphia, Maryland
Here’s a vivid account of Multimedia Games‘ reversal of fortune, how a company focused on B-level gaming markets established a presence in Nevada, Atlantic City and Pennsylvania, and improved its value sufficiently to make it a takeover target for Global … Continue reading
Boston: Wynn wins!; Changing horses at Boyd
Although the Massachusetts Gaming Commission put Wynn Resorts through the wringer this past week, when the chips were down Wynn emerged the winner by a 3-1 vote. The positive verdict comes with some conditions, so a second vote will be … Continue reading
Posted in Architecture, Boyd Gaming, Election, Horseracing, Macau, Massachusetts, Mohegan Sun, Steve Wynn, Wall Street
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Revel draws more interest; Risky business
Glenn Straub having put $130 million in escrow just in case his $90 million, all-cash bid on Revel doesn’t do the trick, other bidders are tipping their hands. Money doesn’t mean much to California developer Richard Meruelo, who forfeited a … Continue reading
Posted in Atlantic City, Glenn Straub, Neil Bluhm, Ohio, Penn National, Pennsylvania, Regulation, Revel, Technology, Tilman Fertitta
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Boston: Wynn takes a stand
Friday will go down as the day Steve Wynn told the Massachusetts Gaming Commission where it could get off. In a letter to the commissioners, Wynn “said Wynn Resorts would not alter the design of their proposed 27-story hotel tower in … Continue reading
Posted in Architecture, history, Maine, Marketing, Massachusetts, Mississippi, Mohegan Sun, Ohio, Penn National, Racinos, Regulation, Steve Wynn, Transportation
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Quote of the Day
“This is the first time in this case there seems to be a buzz going on.” — Bankruptcy Court Judge Gloria Burns, on an acrimonious hearing for Revel, marked by “threats of litigation if the auction was postponed, complaints that [buyer Glenn … Continue reading
Posted in Atlantic City, Glenn Straub, Revel
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Cycle of futility; Hard luck in Indian Country
As the casino industry braces itself for Global Gaming Expo, this could hardly be a worse moment to be hawking slot machines. Not only is it undergoing a painful contraction but new markets (like Boston and Washington, D.C.) are a … Continue reading
Posted in Atlantic City, Bally Technologies, California, Economy, G2E, Harrah's, IGT, Maryland, Massachusetts, Mississippi, Revel, Scientific Games, Station Casinos, Tribal, Trump Entertainment Resorts
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Case Bets: Wisconsin, Nebraska, Alabama
Jumping the gun, the Menominee Nation has launched a site for job-seekers at its hoped-for Dairyland Park casino. The landing page promises “Opening Soon Pending Approval.” (Did you notice how they jumped over that pesky construction phase?) The Forest County Potowatomi … Continue reading
Posted in Alabama, Hard Rock International, Horseracing, Racinos, Technology, Tribal, Wisconsin
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‘I’m poorer than you are’
That’s the argument being reiterated in New York State, as impoverished cities and their would-be casino saviors fight for over one or (more likely) two casino licenses. Case in point: Newburgh, where Mayor Judy Kennedy (left) has become a media celebrity of … Continue reading
Posted in Architecture, Economy, Genting, Massachusetts, Mohegan Sun, New York, Regulation, Steve Wynn
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When a loss is a gain
Come this time next month, we could easily be reporting year/year gains in Atlantic City. Last month, as Revel and Showboat were winding down operations, the Boardwalk was only 1% off last year’s pace. Internet gambling played a role in … Continue reading
Wynn battles Boston
Despite leading Mohegan Sun on points, Steve Wynn seems far from a TKO for a Boston casino. (For the full monty on both projects, the Massachusetts Gaming Commission provides heavy detail.) For one thing, Mayor Martin Walsh‘s administration appears to be … Continue reading
Posted in Horseracing, Massachusetts, Mohegan Sun, Regulation, Rhode Island, Steve Wynn, Transportation
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He came to buy Atlantic City
Just when you thought Atlantic City had shed several casinos, they’re coming right back. Would-be Revel buyer Glenn Straub would include casino gambling in his larger strategy for the property but make it incidental to other “hobbies.” “Who in the hell … Continue reading
Macao’s loss is Vegas’ gain
There is discernible evidence that the anti-corruption crackdown in China is redounding to Las Vegas‘ benefit. According to a report by Deutsche Bank‘s Carlo Santarelli, “we do see a relatively compelling empirical case that supports the view that anti-corruption crackdowns … Continue reading
Posted in Detroit, Economy, Macau, MGM Mirage, Ohio, The Strip, Transportation, Tribal
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Quote of the Day
“The expansive villa is truly the pinnacle of the Nobu Hotel. We wanted to further showcase and interpret the Nobu aesthetic and designed a luxurious and modern environment inspired by Japanese art, design and culture.” — Shawn Sullivan, Rockwell Group studio … Continue reading
Posted in Architecture, Harrah's, The Strip
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Boston: Another agonizing delay; Loveman: Don’t worry, be happy
Just when it looked like the suspense would be ended over who’d get the Boston-area casino, the slow-moving Massachusetts Gaming Commission imposed another week’s delay on the process. Basically, commissioners want Wynn Resorts to do better than it has in … Continue reading
Posted in Alabama, Architecture, Atlantic City, Cordish Co., Genting, Harrah's, history, Marketing, Massachusetts, Mohegan Sun, New York, Penn National, Pennsylvania, Regulation, Steve Wynn, Transportation
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Atlantic City: MGM returns, Revel sold
There was a happy ending for MGM Resorts International in its long soap opera with New Jersey gaming regulation. The New Jersey Casino Control Commission voted unanimously to relicense the company, reuniting it with Borgata — and with 86 million … Continue reading
Decision time in Boston
At last, the Massachusetts Gaming Commission is taking up the Steve Wynn vs. Mohegan Sun battle for a Boston-area casino. Hearings began yesterday, with one round going to each challenger. Wynn Resorts surprisingly (given its reputation) lost the swimsuit competition, … Continue reading
Posted in Architecture, Cordish Co., Environment, Harrah's, Internet gambling, Maryland, Massachusetts, Mohegan Sun, Penn National, Racinos, Singapore, Steve Wynn
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Trump bookmarks Chapter 11; Christie’s canny moves
Trump Entertainment Resorts is back in familiar territory: Chapter 11. It is the fourth time that minority owner Donald Trump‘s casinos have gone insolvent. He may try to wash his hands of the mess, but he gets equity for the use … Continue reading