Author Archives: David McKee

About David McKee

Bio

Keeping with the times; Inside Bally’s palace coup

Posted on May 20, 2014 by David McKee

For people like myself, whose formative experiences of Las Vegas took place 10-plus years ago, it’s important to go with the flow. For instance, the ever-burgeoning and remunerative nightclub business. When SLS Las Vegas opens Life, bottle service will be … Continue reading →

Posted in Bally Technologies, Election, Entertainment, Harrah's, Rhode Island, Sam Nazarian, Shuffle Master, Steve Wynn, Technology, The Strip, Wall Street | Comments Off on Keeping with the times; Inside Bally’s palace coup

Fertitta breaks ranks; Roll them bones

Posted on May 19, 2014 by David McKee

Golden Nugget owner Tilman Fertitta, 56, may be a Baby Boomer himself, but he’s not satisfied with his Boomer-centric clientele. As he told the Southern Gaming Summit, “One of my scariest things that is young people do not play slot machines.” … Continue reading →

Posted in Downtown, Geoff Freeman, Massachusetts, Sheldon Adelson, Steve Wynn, Technology, Tilman Fertitta | 2 Comments

Quote of the Day

Posted on May 19, 2014 by David McKee

“That’s up to my tribe as to what they choose to do. There are so many other ways to do economic development rather than just a casino. Now, don’t get me wrong, a casino is the fastest, most-efficient, money-making way.” — Mishewal … Continue reading →

Posted in California, Environment, Tourism, Tribal | Comments Off on Quote of the Day

Cuomo’s gamble and other Case Bets

Posted on May 19, 2014 by David McKee

New York Gov. Andrew Cuomo (D, right) promised constituents that casino gambling would “fundamentally change the trajectory of the Catskills.” But will it? Or will his administration cut the promised economic recovery off at the knees by favoring one of five … Continue reading →

Posted in Cannery Casino Resorts, Economy, Foxwoods, Genting, Harrah's, Iowa, Massachusetts, New York, Pennsylvania | Comments Off on Cuomo’s gamble and other Case Bets

Cosmo: Now comes the hard part

Posted on May 19, 2014 by David McKee

Cosmopolitan of Las Vegas CEO John Unwin is crowing in triumph over Blackstone Real Estate Partners VII‘s staggeringly lavish purchase of the megaresort over which he presides. “This marks the beginning of the next chapter for The Cosmopolitan of Las Vegas … Continue reading →

Posted in Boyd Gaming, Cosmopolitan, Economy, Harrah's, James Packer, Japan, Melco Crown Entertainment, MGM Mirage, Penn National, Politics, Regulation, Sheldon Adelson, Steve Wynn, Wall Street | 1 Comment

Shooting at Palms; Palace coup at Bally

Posted on May 16, 2014 by David McKee

Las Vegas‘ gradual devolution took another step last night when a man was mortally wounded in a Fantasy Tower suite at the Palms. Actually, we’re fortunate there weren’t more fatalities, as 40 to 50 partygoers were on the scene. Despite … Continue reading →

Posted in Bally Technologies, Palms | Comments Off on Shooting at Palms; Palace coup at Bally

Shamelessness at Suffolk Downs

Posted on May 15, 2014 by David McKee

In a ludicrous reversal, the owners of Suffolk Downs offered to end horseracing at the track if the Massachusetts Gaming Commission would, pretty please with cream on top, give them a casino license. Up to that point, Suffolk Downs has … Continue reading →

Posted in Atlantic City, Boyd Gaming, California, Cretins, Horseracing, Massachusetts, MGM Mirage, Mohegan Sun, Regulation, Vdara Death Ray, World Series of Poker | Comments Off on Shamelessness at Suffolk Downs

Japan fever

Posted on May 15, 2014 by David McKee

As the window slowly closes on casino legalization during the current session of the Japanese Diet, a fever seems to be overtaking the casino industry. Normally reasonable people are suddenly hyper-exaggerating their projections for gambling in the Land of the … Continue reading →

Posted in Harrah's, Japan, Louisiana, MGM Mirage, Pinnacle Entertainment, Rhode Island, Sheldon Adelson, Steve Wynn, Tribal, Wall Street | Comments Off on Japan fever

Cosmo sold!

Posted on May 15, 2014 by David McKee

Deutsche Bank had to take a heckuva haircut but it finally rid itself of The Cosmopolitan Las Vegas for $1.7 billion and change. The buyer is private equity fund Blackstone Group, which paid a staggering 16.7X cash flow for this white … Continue reading →

Posted in Cosmopolitan, Foxwoods, Massachusetts, Regulation, The Strip, Wall Street | 3 Comments

Full House’s busted flush; GLPI’s big play

Posted on May 14, 2014 by David McKee

In further evidence of saturation in the gaming industry (if more were needed), Full House Resorts wants to be released from a commitment to buy Fitzgerald’s Casino, in Tunica. Seems that Full House can’t find banks who’ll underwrite the deal. … Continue reading →

Posted in Cannery Casino Resorts, Dan Gilbert, Detroit, Harrah's, LVCVA, Marketing, MGM Mirage, Mississippi, Penn National, Racinos, Wall Street | Comments Off on Full House’s busted flush; GLPI’s big play

Good news from Atlantic City; F-blew: This is the end

Posted on May 14, 2014 by David McKee

OK, so the Boardwalk was down 2% last month but, on a same-store basis (i.e., minus Atlantic Club), business was up 3%, given a shove over the top by $11 million in online-casino revenue, which is looking like a difference maker, … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Churchill Downs, Fontainebleau, Harrah's, Mohegan Sun, New York, Pennsylvania, Tropicana Entertainment, Trump Entertainment Resorts, Wall Street | 2 Comments

New York: The rush is on; Baloney in Philly

Posted on May 13, 2014 by David McKee

New York State has come out with its required minimum casino investments, which range from $70 million to $350 million, although the reality is a complicated formula too tortuous to unravel here, laden with ‘ifs,’ ‘ands’ and ‘buts.’ (The $350 … Continue reading →

Posted in Downtown, Economy, Genting, Harrah's, Internet gambling, New York, Pennsylvania, Shuffle Master, Technology, Tribal | Comments Off on New York: The rush is on; Baloney in Philly

Happy anniversary for Adelson; Penn’s legal woes

Posted on May 13, 2014 by David McKee

Smashed entrance doors, overburdened and broken escalators, and 40,000 customers … it was all in a day’s work when Sands Macao opened — can it really be 10 years ago next week? Time flies when you’re Sheldon Adelson. Although Stanley … Continue reading →

Posted in Iowa, Japan, Macau, Massachusetts, Neil Bluhm, Penn National, Racinos, Regulation, Sheldon Adelson, Stanley Ho, Taxes | Comments Off on Happy anniversary for Adelson; Penn’s legal woes

Wynn’s albatross; Culinary gets wrist slapped

Posted on May 13, 2014 by David McKee

Steve Wynn‘s Everett casino project is getting pinned down by fire from several directions. Boston City Attorney Thomas Frongillo argues that a sale to Wynn Resorts by FBT Everett Realty LLC should be voided because the latter concealed an ownership stake … Continue reading →

Posted in Culinary Union, Environment, Harrah's, Indiana, Massachusetts, Mohegan Sun, Regulation, Steve Wynn | 2 Comments

Quote of the Day

Posted on May 13, 2014 by David McKee

“Like Lucy does with Charlie Brown, the Legislature keeps promising Floridians an overhaul of gambling in the state — then pulls the ball away.” — James L. Rosica, on the latest session of futility in Tallahassee.

Posted in Florida, Politics, Tribal | Comments Off on Quote of the Day

MGM National Harbor: Icon or overkill? You decide

Posted on May 9, 2014 by David McKee

MGM Resorts International‘s National Harbor project literally hasn’t gotten off the drawing board and yet it’s already stirring controversy. The beef mainly involves five oversized LED screens, the largest of which would be 60 by 100 feet. MGM has similar … Continue reading →

Posted in Architecture, Environment, Harrah's, Internet gambling, Maryland, MGM Mirage, Ohio, Penn National, Politics, Regulation, Sheldon Adelson, Technology | 1 Comment

Boston gets bounced; Packer K.O.’s Sri Lanka; Cohen’s good deed

Posted on May 9, 2014 by David McKee

It could all wind up in court, further prolonging Wynn Resorts‘ and Mohegan Sun‘s agony, but for now Boston is a surrounding community. The Massachusetts Gaming Commission unanimously struck down Mayor Martin J. Walsh‘s demand for host-community status. Wynn was … Continue reading →

Posted in Animals, California, International, James Packer, Massachusetts, Mohegan Sun, Regulation, Station Casinos, Steve Wynn, Tribal | Comments Off on Boston gets bounced; Packer K.O.’s Sri Lanka; Cohen’s good deed

Loveman utters heresy; Adelson’s sock-puppet theatre

Posted on May 9, 2014 by David McKee

Buried deep in Caesars Entertainments ‘s 1Q14 earnings call was this bombshell from CEO Gary Loveman: “We are looking at all of our options to reduce the cost of doing business here. All the businesses in [Atlantic City] are under tremendous pressure.” That’s … Continue reading →

Posted in Atlantic City, Cretins, Economy, Florida, Harrah's, Indiana, Louisiana, New Hampshire, Politics, South Carolina, Texas, Wall Street | Comments Off on Loveman utters heresy; Adelson’s sock-puppet theatre

A few minutes with Sheldon Adelson

Posted on May 9, 2014 by David McKee

On Internet gambling: On his fear of the Vegas High Roller: “They don’t care about Sheldon Adelson” COURTESY: Bloomberg News

Posted in Harrah's, International, Macau, Sheldon Adelson, Singapore, The Strip | Comments Off on A few minutes with Sheldon Adelson

Up, up and away … slowly

Posted on May 7, 2014 by David McKee

I’ve been putting off writing about riding the Vegas High Roller. Not because it isn’t a powerful new icon for the Las Vegas Strip (it is). Not because the ride isn’t smooth as silk. (It is.) And not because Caesars … Continue reading →

Posted in Architecture, California, Entertainment, Harrah's, MGM Mirage, The Strip, Tourism, Tribal, Wall Street | Comments Off on Up, up and away … slowly