Author Archives: David McKee

About David McKee

Bio

MGM’s inspiring, new vision

Posted on April 28, 2014 by David McKee

I’m digging the architecture but what’s with the softcore-porn music? MGM Resorts International has released a new tranche of details on The Park, its mega-project (and substitute for extending CityCenter) that seems to progress in almost imperceptible steps. While CEO … Continue reading →

Posted in Architecture, CityCenter, Dining, Entertainment, Harrah's, Iowa, MGM Mirage, Racinos, The Strip | 2 Comments

Well, that’s the end of that; A win for Wynn

Posted on April 28, 2014 by David McKee

Caving to opposition forces, the government of Sri Lanka has reversed course and nixed casinos from three planned resorts. The most prominent was a $550 million Crown Resorts project. Now James Packer has to decide whether it’s worth the investment … Continue reading →

Posted in Dennis Gomes, Entertainment, International, James Packer, Massachusetts, MGM Mirage, Mohegan Sun, Regulation, Riviera, Steve Wynn, The Strip, Tilman Fertitta | Comments Off on Well, that’s the end of that; A win for Wynn

This just in: Seminole deal near?

Posted on April 25, 2014 by David McKee

Someone “close to the negotiations” for a new tribal gaming compact in Florida tells The Associated Press the Gov. Rick Scott is feeling out legislative leaders about holding a special session in May. The reason: A new state/Seminole Tribe deal. … Continue reading →

Posted in Florida, Taxes, Tribal | Comments Off on This just in: Seminole deal near?

Curtains for Caesars Windsor?; Churchill Downs wants to be a player

Posted on April 25, 2014 by David McKee

Karl Henkel of the Detroit News makes a close analysis of the market situation in Detroit and sees portents of what has been happening in Atlantic City and Tunica. His analysis doesn’t just focus on gross revenues but, for instance, … Continue reading →

Posted in Atlantic City, Boyd Gaming, Churchill Downs, Dan Gilbert, Detroit, Economy, Harrah's, Internet gambling, Isle of Capri, Louisiana, MGM Mirage, Mississippi, Pinnacle Entertainment, Racinos, Regulation, Tropicana Entertainment | Comments Off on Curtains for Caesars Windsor?; Churchill Downs wants to be a player

It’s good to be Sheldon Adelson

Posted on April 25, 2014 by David McKee

Posting a 21% increase in revenue, Las Vegas Sands reported 97 cents/share in earnings (Wall Street had expected $0.94). No surprise, Macao was the primary driver. Analysts were also pleased by a $810 million buyback of Sands shares, bolstering the … Continue reading →

Posted in Animals, Harrah's, Iowa, Macau, MGM Mirage, Pennsylvania, Racinos, Sheldon Adelson, Singapore, The Strip, Wall Street | Comments Off on It’s good to be Sheldon Adelson

N.Y.: 22 is enough; Cussing match at Wynncore

Posted on April 25, 2014 by David McKee

Caesars Entertainment‘s sudden romance with New York State is getting the company some grief, although not from the usual defenders of Atlantic City. Assemblyman Ralph Caputo (D) is among those who want to put a casino at the Meadowlands and … Continue reading →

Posted in Atlantic City, Cordish Co., Foxwoods, Genting, Harrah's, Mohegan Sun, Penn National, Pinnacle Entertainment, Politics, Racinos, Steve Wynn, Tribal | Comments Off on N.Y.: 22 is enough; Cussing match at Wynncore

Packer sparks protests; Heads roll at Zynga

Posted on April 24, 2014 by David McKee

Just the prospect of a James Packer-owned casino was enough to spur a Buddhist-driven protest march in Sri Lanka. Packer’s Crown Resorts has concessions to develop three resort properties and the Sri Lanka government has been talking out of both … Continue reading →

Posted in Atlantic City, Churchill Downs, International, Internet gambling, James Packer, Kentucky, Lawrence Ho, Maine, New York, Ohio, Politics | Comments Off on Packer sparks protests; Heads roll at Zynga

Quote of the Day

Posted on April 24, 2014 by David McKee

“We’ve done some research out there with regard to these consumers. And clearly, we’ve talked about a new norm. The customers are saying that they’re not fully employed. They don’t have the discretionary budget that they had either because they … Continue reading →

Posted in Economy, Penn National | Comments Off on Quote of the Day

Penn manages expectations

Posted on April 24, 2014 by David McKee

Penn National Gaming lowered estimates for cash flow and other metrics today, as well as releasing 1Q14 results that J.P. Morgan analyst Joseph Greff wrote were “generally in line with our … estimates.”  According to Penn, player spending has been … Continue reading →

Posted in Atlantic City, Cordish Co., Cosmopolitan, Harrah's, Illinois, Indiana, Iowa, Massachusetts, Mississippi, New York, Penn National, Slot routes, Wall Street, West Virginia | Comments Off on Penn manages expectations

New York embraces casinos; Wynn disses Clooney

Posted on April 24, 2014 by David McKee

Twenty-two. That’s how many applicants paid a $1 million application fee to vie for four casino licenses in upstate New York. That’s more than Massachusetts, far more than Kansas, neither of which matches the allure of the Empire State (to … Continue reading →

Posted in Foxwoods, Genting, Harrah's, Massachusetts, Mohegan Sun, New York, Penn National, Racinos, Steve Wynn | Comments Off on New York embraces casinos; Wynn disses Clooney

IGT: Don’t cry for them Argentina

Posted on April 23, 2014 by David McKee

A 66% drop in profits for International Game Technology was one of yesterday’s headline events. Net revenues were off 15%. That $30 million in workforce cuts didn’t come soon enough to save the quarter, evidently. Wall Street analysts were remarkably … Continue reading →

Posted in Animals, Cosmopolitan, IGT, International, Internet gambling, Pets, Technology, Wall Street | Comments Off on IGT: Don’t cry for them Argentina

Caesars: The day after

Posted on April 23, 2014 by David McKee

New York resort developers may be reeling from the sudden entry of Caesars Entertainment into the picture, but that doesn’t mean they’ve given up the fight. After all, Caesars’ move only impacts the Catskills region, not the Capital one nor … Continue reading →

Posted in Atlantic City, Boyd Gaming, Cordish Co., Foxwoods, Genting, Harrah's, Horseracing, International, Macau, Melco Crown Entertainment, MGM Mirage, New York, Penn National, Pennsylvania, Racinos, Sheldon Adelson | Comments Off on Caesars: The day after

Case Bets

Posted on April 23, 2014 by David McKee

Former Florida Lt. Governor Jennifer Carroll‘s troubles with the law haven’t ended with her resignation from public office. Tens of thousands of dollars of unreported income from Internet-cafe casino operators went unreported and now Carroll has some explaining to do. … Continue reading →

Posted in Florida, Internet gambling, Iowa, Penn National, Pennsylvania, Regulation, Rhode Island, Warner Gaming | Comments Off on Case Bets

Gambling: It’s not what it used to be

Posted on April 23, 2014 by David McKee

Nevada‘s casino industry is still in the Great Recession, if profits and losses are anything by which to go. Posting their fifth consecutive year of losses, they were $1.35 billion in the red, on $24 billion in revenues. No surprise, … Continue reading →

Posted in Animals, Dining, Downtown, Economy, Entertainment, Lake Tahoe, Laughlin, Planet Hollywood, Reno, Sheldon Adelson | Comments Off on Gambling: It’s not what it used to be

Why is this man smiling?

Posted on April 22, 2014 by David McKee

Scarcely had Penn National Gaming and Cordish Gaming decided to bury their differences and work together when their party was crashed. Who else could it be but ubiquitous Caesars Entertainment? The company has written a check for $1 million (refundable) … Continue reading →

Posted in Atlantic City, Cordish Co., Harrah's, New York, Ohio, Penn National | 1 Comment

Last-minute scramble in New York

Posted on April 22, 2014 by David McKee

Saratoga Springs Mayor Joanne Yepsen (below) must be the optimistic politician alive. She’s not only OK with Saratoga Raceway & Casino taking its expansion plans elsewhere, she actually gave it her blessing, boasting of her city’s “thriving downtown, successful city center, … Continue reading →

Posted in Economy, International, New York, Racinos | 1 Comment

Smurf this!

Posted on April 22, 2014 by David McKee

Casinos in Ohio are already becoming a veritable laundromat of money laundering. The practice, called “smurfing,” calls for one person — or a group of conspirators — to buy casino chips, then redeem them, “washing” their cash by those means. … Continue reading →

Posted in Cirque du Soleil, Entertainment, Internet gambling, Iowa, MGM Mirage, Ohio, Penn National, Regulation, Sam Nazarian, Sports, The Strip | 1 Comment

The right amount of wrong ideas

Posted on April 22, 2014 by David McKee

When it comes to the U.S. gaming market, there’s nothing that can stand between James Packer and a bad investment, it seems, common sense least of all. According to Australian media reports, Deutsche Bank wants $1.5 billion-$2 billion for The … Continue reading →

Posted in Cosmopolitan, Dining, Entertainment, Fontainebleau, Harrah's, IGT, International, James Packer, Japan, Macau, Penn National, Pinnacle Entertainment, Station Casinos, The Strip, Wall Street | 1 Comment

Quote of the Day

Posted on April 21, 2014 by David McKee

“Iowa and Illinois are two sides of the same coin; both states have had gaming for over 20 years. The casino industry in each is mature and probably saturated; the gaming industry in each state has suffered any time new … Continue reading →

Posted in Economy, Illinois, Iowa, Regulation | 1 Comment

Look out, Macao, here comes Crimea

Posted on April 21, 2014 by David McKee

That’s the message from Crimea‘s puppet leader, Rustam Temirgaliyev, who claims that Crimea could outdo Monaco, Las Vegas and even Macao. (It is not recorded whether anyone laughed at his assertion.) “Our task is to create a tourist cluster, which will … Continue reading →

Posted in Entertainment, Greenwood Racing, Harrah's, International, Massachusetts, Mohegan Sun, North Las Vegas, Pennsylvania, Racinos, Regulation, Steve Wynn, Taxes | 1 Comment