Author Archives: David McKee

About David McKee

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Quote of the Day

Posted on June 27, 2014 by David McKee

“Even with $23 billion in debt, Caesars [Entertainment] feels that they will have no problem raising another $5 billion to build a world-class facility [in] Japan, the world’s latest emerging market, even though they will be competing against better-financed rivals with … Continue reading →

Posted in Harrah's, Japan, Massachusetts | Comments Off on Quote of the Day

Boffo May in Vegas; The power of convenience

Posted on June 27, 2014 by David McKee

Wall Street was pleasantly surprised by May’s gambling numbers from Nevada and especially the Las Vegas Strip, which was up 17%. Statewide, revenues rose 8%, reflecting the dilutive effect of an 8% decline in locals gaming revenue. A 3% dip … Continue reading →

Posted in Boulder Strip, Downtown, Economy, Election, Hard Rock International, Harrah's, Illinois, Laughlin, Massachusetts, MGM Mirage, Mohegan Sun, North Las Vegas, Ohio, Penn National, Problem gambling, Racinos, Regulation, Slot routes, The Strip, Wall Street | 3 Comments

So long, Showboat

Posted on June 27, 2014 by David McKee

Normally, when a federally mandated WARN Act notice goes out to casino employees, executives downplay as a mere formality. Not so for Showboat Atlantic City where theoretical closure became actual shutdown in less than 24 hours. Despite having recently posted … Continue reading →

Posted in Atlantic City, Harrah's, Japan, Massachusetts, New York, Regulation, Revel, Taxes | 1 Comment

Sticky moment in Macao; Debt? What debt?

Posted on June 26, 2014 by David McKee

Macao continues to be a large blessing and a small curse upon the U.S. casino industry. Earlier this month, the Internal Revenue Service acknowledged ramped-up scrutiny of the enclave, where money laundering is a persistent fear — especially in Washington, … Continue reading →

Posted in Harrah's, Japan, Macau, Regulation, Sheldon Adelson, Wall Street | Comments Off on Sticky moment in Macao; Debt? What debt?

Massachusetts: A call to action

Posted on June 26, 2014 by David McKee

Casino companies in Massachusetts “could” or “may” team up to fight the repeal effort currently underway. How about “must” or “should”? If ever there were an imperative for joint action, this is it. Perhaps even Wynn Resorts and Mohegan Sun could … Continue reading →

Posted in Economy, Election, Foxwoods, Geoff Freeman, Horseracing, IGT, Internet gambling, Massachusetts, MGM Mirage, Mohegan Sun, Penn National, Politics, Steve Wynn | Comments Off on Massachusetts: A call to action

Freeman’s strange plea; Aristocrat on the move

Posted on June 26, 2014 by David McKee

This morning, a strange letter landed upon my cyber-desk, signed by American Gaming Association Senior Vice President of Public Affairs Sara Rayme. However, it’s perfectly congruent with the aggressive tendencies of AGA President Geoff Freeman, so I look upon him … Continue reading →

Posted in Aristocrat, Geoff Freeman, IGT, Internet gambling, Politics, Technology, Texas, Tribal | Comments Off on Freeman’s strange plea; Aristocrat on the move

The ultimate irony; No luck for Argosy; Borgata lawsuit tossed

Posted on June 26, 2014 by David McKee

States have, one after another, approved casino gambling to help prop up their own finances. Now, with crushing irony, Delaware is going from being subsidized by racinos to subsidizing them. Gov. Jack Markell (D) still can’t drum up the support … Continue reading →

Posted in Atlantic City, Boyd Gaming, Current, Delaware, Harrah's, Iowa, Maryland, Penn National, Racinos, Regulation, Taxes | 2 Comments

Massachusetts: The morning after

Posted on June 25, 2014 by David McKee

Although Wynn Resorts is keeping mum on this week’s Massachusetts Supreme Judicial Court ruling, others are not taking it lying down. Faced with a do-or-die referendum on casino gambling in the Bay State, MGM Resorts International promised it was “fully … Continue reading →

Posted in Atlantic City, Election, Geoff Freeman, Harrah's, Internet gambling, Macau, Massachusetts, MGM Mirage, Mohegan Sun, Penn National, PokerStars, Politics, Regulation, Sports, Steve Wynn | Comments Off on Massachusetts: The morning after

Case Bets

Posted on June 25, 2014 by David McKee

Look what they found. Legislators in Delaware have “found” money to aid the state’s ailing racinos and, surprisingly, no sofa cushions were involved. $10 million will be used to help reduce the racinos’ costs to slot machine vendors by 75%. … Continue reading →

Posted in Delaware, Harrah's, history, Louisiana, Maryland, MGM Mirage, Racinos, Regulation, Taxes | Comments Off on Case Bets

The great horse robbery

Posted on June 25, 2014 by David McKee

Pennsylvania‘s horse tracks are on the brink, not from the usual reason — bad business — but due to state malfeasance. According to the State Racing Fund, it’s been sucked dry by the Department of Agriculture, including undocumented personnel costs. … Continue reading →

Posted in Horseracing, Pennsylvania, Regulation | Comments Off on The great horse robbery

Mississippi bogged down; How much for Revel?

Posted on June 24, 2014 by David McKee

Still further evidence of gaming saturation comes from the Bayou State, where revenues have declined in 21 of the last 23 months — an Atlantic City-like declivity. Last month, the last full month of operations for Harrah’s Tunica, statewide revenues … Continue reading →

Posted in Atlantic City, Economy, Hard Rock International, Maryland, MTR Gaming, Ohio, Penn National, Racinos, Regulation, Revel, West Virginia | Comments Off on Mississippi bogged down; How much for Revel?

Wynn wins again; LVH sale near

Posted on June 24, 2014 by David McKee

Steve Wynn‘s $19 million libel award against sleazebag Joe Francis, former purveyor of Girls Gone Wild, has been upheld. The appeals court also imposed a gag order on Francis, enjoining him from ever repeating his claims that Wynn threatened to … Continue reading →

Posted in Entertainment, Goldman Sachs, Harrah's, Illinois, LVCVA, Steve Wynn, The Strip, Wall Street | Comments Off on Wynn wins again; LVH sale near

Casinos get November surprise

Posted on June 24, 2014 by David McKee

In news that Deutsche Bank analyst Carlo Santarelli called a “fiasco,” the Massachusetts Supreme Judicial Court has decided to allow Bay State voters to decide whether or not to repeal the state’s casino law. Hardest-hit in a worst-case scenario would … Continue reading →

Posted in Atlantic City, Internet gambling, Massachusetts, MGM Mirage, Mohegan Sun, Penn National, Reno, Sports, Steve Wynn | 1 Comment

Goodbye, Harmon, we never knew ye

Posted on June 23, 2014 by David McKee

It’s that long-awaited time: The demolition of the Harmon Hotel, which holds the ignominious distinction of the first Strip hotel demolished without ever hosting a single guest. This $11.5 million sidewalk show will leave an awkward void next to Crystals. … Continue reading →

Posted in Architecture, Cirque du Soleil, CityCenter, MGM Mirage, The Strip | Comments Off on Goodbye, Harmon, we never knew ye

Et tu, Thrillist?; Bed-hopping in N.Y.

Posted on June 23, 2014 by David McKee

Poor Sam Nazarian. He’s still two months away from opening SLS Las Vegas and Thrillist has gone and jumped the gun. It’s crowned The Cromwell “already Vegas coolest hotel.” Not even an unfinished parking garage could dampen their enthusiasm, motivated … Continue reading →

Posted in Churchill Downs, Cordish Co., Hard Rock International, Harrah's, Iowa, Massachusetts, MGM Mirage, Neil Bluhm, New York, Penn National, Racinos, The Strip, Tribal | Comments Off on Et tu, Thrillist?; Bed-hopping in N.Y.

New York, worker’s paradise; Tough call in Iowa

Posted on June 23, 2014 by David McKee

Casino workers in New York really can be assured of good-paying jobs. According figures released by the New York Hotel & Trades Council, a starting salary of $40,000 is quite plausible. Resorts World New York employees landed a contract last … Continue reading →

Posted in Economy, Genting, Iowa, New York, Penn National, Racinos, Regulation | Comments Off on New York, worker’s paradise; Tough call in Iowa

Atlantic City: Game over?

Posted on June 23, 2014 by David McKee

Atlantic City‘s last, best hope — sports betting — was swatted away by the U.S. Supreme Court. While keeping mum on its reasoning, the Supremes let stand a federal ban on sports wagering. Found at a charity softball game, Gov. … Continue reading →

Posted in Atlantic City, Economy, Harrah's, International, Internet gambling, Japan, Lawrence Ho, Mohegan Sun, Sports, Tourism, Transportation | Comments Off on Atlantic City: Game over?

Gentlemen, grab your joysticks; Massachusetts: Another day, another poll

Posted on June 20, 2014 by David McKee

Video-game/slot hybrids have been licensed by the Nevada Gaming Commission and will be on display for your entertainment at the next Global Gaming Expo. The lucky winner was Gamblit Gaming, which is owned by American Capital by way of Hard … Continue reading →

Posted in Election, G2E, Hard Rock International, Harrah's, Internet gambling, Massachusetts, New York, Regulation, Technology, Uncategorized | Comments Off on Gentlemen, grab your joysticks; Massachusetts: Another day, another poll

Revel bankrupt … again

Posted on June 20, 2014 by David McKee

Owned by former creditors, Revel Casino Hotel is dropping a bankruptcy on newer creditors. Hopefully this move will stave off the Aug. 18 closing (perhaps as late as Sept. 1.) that was threatened in a letter to employees yesterday, although the … Continue reading →

Posted in Atlantic City, Delaware, Dining, Economy, Entertainment, Foxwoods, Harrah's, Maryland, Pennsylvania, Racinos, Revel, Rhode Island, Taxes | 1 Comment

Revel to close, barring a miracle; Gaughan memorialized

Posted on June 19, 2014 by David McKee

That’s the message coming from top Revel Resort brass, who sent a letter to casino employees cautioning them that — unless the property can be sold by Aug. 18 — they all may be out of jobs: “If Revel is unable … Continue reading →

Posted in Atlantic City, Downtown, Economy, Fontainebleau, Hard Rock International, Harrah's, history, Massachusetts, Tribal | 1 Comment