Author Archives: David McKee

About David McKee

Bio

Camptown Races; Concord in Boston

Posted on July 8, 2014 by David McKee

What if they gave a casino and nobody came? That’s what happened to Kansas, which drew nary a bidder on its fourth and final casino license, deemed by many to be too close to Oklahoma (rife with casinos) to be … Continue reading →

Posted in Boyd Gaming, Carl Icahn, Columbia Sussex, Dotty's, Kansas, Laughlin, Massachusetts, Mohegan Sun, Oklahoma, Phil Ruffin, Steve Wynn, Tropicana Entertainment | 1 Comment

Station’s big hit; Tribal roundup

Posted on July 8, 2014 by David McKee

There’s no doubt that Graton Resort, less than an hour’s driving distance from San Francisco, has been a success for Station Casinos. We just didn’t know how much. In addition to earning a $7.4 million management fee during 1Q14, Station … Continue reading →

Posted in California, Florida, Kansas, Regulation, Station Casinos, Technology, Tribal, Wall Street | 1 Comment

Quote of the Day

Posted on July 8, 2014 by David McKee

“I expect there will be for purposes of spending money but I couldn’t wait for them to get their act together, to be candid.” — Massachusetts Secretary of State William Galvin, on the lack of organized opposition to casino repeal.

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

Lean and hungry in the Midwest

Posted on July 8, 2014 by David McKee

It’s difficult to find new things to say about Illinois, where the saga has become sadly familiar. Another month, another 11% decline. Even players’ darlings Rivers Casino (-4%) and Jumer’s Rock Island Casino (right, -14%) struggled. However, by some miracle, … Continue reading →

Posted in Boyd Gaming, Current, Harrah's, MGM Mirage, Neil Bluhm, Ohio, Penn National, Pinnacle Entertainment, Tropicana Entertainment | 1 Comment

Reno 2.0; Saturation in Ohio

Posted on July 7, 2014 by David McKee

All roads lead through Reno, more or less, if you’re dealing with Amazon.com. Now the Biggest Little City in the World is hoping to export high-tech instead. A corridor to that purpose, nicknamed “Startup Row” has sprung up downtown. A … Continue reading →

Posted in California, Economy, Harrah's, Ohio, Penn National, Pinnacle Entertainment, Revel | Comments Off on Reno 2.0; Saturation in Ohio

A Grand attempt; The grandson also rises

Posted on July 7, 2014 by David McKee

If Newport, Rhode Island, is the American Riviera (or was once), then casino gambling would seem like a logical amenity. Would-be owner Joseph Paolino and his partners want to add table games to the Newport Grand slot parlor — but … Continue reading →

Posted in Election, Michael Gaughan, Rhode Island | Comments Off on A Grand attempt; The grandson also rises

Atlantic City: Tide’s out?

Posted on July 7, 2014 by David McKee

New Jersey can’t add new casino or racino sites until late 2016, per Gov. Chris Christie‘s rescue plan. But lawmakers may not wait that long. A 2015 statewide ballot question to add new gambling jurisdictions is “a very real possibility,” according … Continue reading →

Posted in Atlantic City, Election, Foxwoods, Massachusetts, Politics, Taxes, Tribal, Wall Street | Comments Off on Atlantic City: Tide’s out?

Feeling Moody’s

Posted on July 7, 2014 by David McKee

Here at S&G, we don’t begrudge anyone their right to build casinos. But, in the larger picture, the evidence suggests that Massachusetts and New York State are sailing into the wind. Moody’s Investors Service surveyed casinos in 15 states and, … Continue reading →

Posted in Atlantic City, Harrah's, Massachusetts, New York, Penn National, Pennsylvania, Steve Wynn, The Strip, Wall Street | Comments Off on Feeling Moody’s

Beat-down in Beantown

Posted on July 2, 2014 by David McKee

It was Boston Mayor Martin Walsh duking it out in a cage match with Revere, Everett, Wynn Resorts and Mohegan Sun, for the edification of the Massachusetts Gaming Commission. Walsh tried to frame it as a debate on frugality: “It’s really … Continue reading →

Posted in Election, Massachusetts, Mohegan Sun, Regulation, Steve Wynn | Comments Off on Beat-down in Beantown

Quad out, Linq in; Siegel in, Goldman out

Posted on July 2, 2014 by David McKee

It takes a big man to admit a mistake and Caesars Entertainment CEO Gary Loveman has tacitly acknowledged that “The Quad” was a mistaque. It’s on the way out, to be replaced with a re-re-branding of Imperial Palace as Linq Hotel … Continue reading →

Posted in CityCenter, Colony Capital, Goldman Sachs, Harrah's, Marketing, MGM Mirage, Regulation | Tagged | 1 Comment

Australia: New promised land?

Posted on July 2, 2014 by David McKee

As Chinese visitation grew 36% in the last year alone, accounting for $7.75 billion dollars of economic impact, Australia is plunging full speed ahead into the race to be the next big gaming thing in the Pacific Rim. Hong Kong … Continue reading →

Posted in Arkansas, Australia, James Packer, Massachusetts, Sheldon Adelson, Singapore, Tourism, Tribal | Comments Off on Australia: New promised land?

Revel’s death spiral; Piling into N.Y.

Posted on July 2, 2014 by David McKee

Having filed for bankruptcy a second time, Revel Casino Hotel is trying hard to stay off the auction block. Maybe not hard enough: A $300 million price tag is too rich for Caesars Entertainment‘s blood or even flush Hard Rock … Continue reading →

Posted in Atlantic City, Churchill Hill, Cordish Co., Current, Genting, Hard Rock International, Harrah's, Mohegan Sun, Neil Bluhm, Penn National, Revel, Taxes, Wall Street | Comments Off on Revel’s death spiral; Piling into N.Y.

What’s in a name?

Posted on July 1, 2014 by David McKee

Quite a lot apparently, if you’re Wynn Boston and you’re going up against local favorite Mohegan Sun. A poll taken by the Center for Policy Analysis at the University of Massachusetts Dartmouth found voters split between 48% in favor of Mohegan … Continue reading →

Posted in Atlantic City, Colorado, Delaware, Detroit, Economy, Election, Foxwoods, Illinois, Indiana, Kansas, Louisiana, Massachusetts, Missouri, Mohegan Sun, New York, Pennsylvania, Steve Wynn, The Strip | Comments Off on What’s in a name?

Isle for sale; N.Y. deluged in casino bids

Posted on July 1, 2014 by David McKee

Consolidation’s march has reached the doorstep of Isle of Capri Casinos. Or maybe it’s the other way around. Isle is reported as having peddled itself to several potential buyers over the last several months. Now it’s “weeks away” from a … Continue reading →

Posted in Colorado, Delaware, Genting, Hard Rock International, Harrah's, Isle of Capri, Neil Bluhm, New York, Penn National, Racinos, Wall Street | Comments Off on Isle for sale; N.Y. deluged in casino bids

Quote of the Day

Posted on July 1, 2014 by David McKee

“For Las Vegas, the route to growth and success is doing events as opposed to more slot machines. For a number of years, it will make a great opportunity to have events and then somebody it’s going to be a … Continue reading →

Posted in Entertainment, MGM Mirage, The Strip | Comments Off on Quote of the Day

Gearing up for fights in Massachusetts, California and Arkansas

Posted on June 30, 2014 by David McKee

Expect a deluge of dollars to be spent opposing or supporting a casino-repeal ballot question in Massachusetts. Unlike political campaigns, ballot questions have no spending limitation attached to them. So far, the biggest amount spent on a ballot question in … Continue reading →

Posted in Arkansas, Bally Technologies, California, Election, Entertainment, Internet gambling, Maryland, Massachusetts, Mohegan Sun, Penn National, Racinos, Regulation, Shuffle Master, Steve Wynn, The Strip, Tropicana Entertainment | Comments Off on Gearing up for fights in Massachusetts, California and Arkansas

D-Day in New York

Posted on June 30, 2014 by David McKee

Today’s the day to get formal bids in on New York State casinos. In the process, the search criteria have been stood on their head by comparatively affluent Orange County, which now dominates the bidding, economic regeneration be damned. Liberty … Continue reading →

Posted in Colorado, Economy, Foxwoods, Internet gambling, New York | Comments Off on D-Day in New York

Showboat: The autopsy; Penn: We’re outta here!

Posted on June 30, 2014 by David McKee

Leaving aside the human effect, in cold business calculus, Caesars Entertainment‘s closure of the Showboat Atlantic City makes sense. At least that’s what Mayor Don Guardian is saying echoed by Wall Street. “The closure makes financial sense for Caesars and … Continue reading →

Posted in Atlantic City, Boyd Gaming, Delaware, Economy, Harrah's, Massachusetts, New York, Penn National, Pennsylvania, Racinos, Taxes, Wall Street | 1 Comment

Quote of the Day

Posted on June 30, 2014 by David McKee

“The situation is as bad as you can imagine. It’s just going to be screwed. And relatively quickly. Unless it can find a way to get more water from somewhere Las Vegas is out of business. Yet they’re still building, which … Continue reading →

Posted in Environment | Comments Off on Quote of the Day

Argosy’s charmed life; Paging “Jersey Shore”; Boyd’s (alleged) botch

Posted on June 27, 2014 by David McKee

It’s The Perils of Pauline over at Penn National Gaming‘s Argosy Sioux City. A July 1 closure has been stayed until July 10 while Judge Eliza Ovrom ponders the merits of the case. She’s scheduled final arguments for the 10th, … Continue reading →

Posted in Boyd Gaming, Charity, Cretins, Iowa, Mississippi, Penn National, Regulation, Sports | Comments Off on Argosy’s charmed life; Paging “Jersey Shore”; Boyd’s (alleged) botch