Author Archives: David McKee

About David McKee

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Panic time at Caesars; Penn’s Ohio strategy a botch; Where in the world is Robert Earl?

Posted on February 5, 2013 by David McKee

It may have taken time for Gary Loveman‘s chickens to come home to roost but they’re doing it by the flockful. To raise cash, pronto, Caesars Entertainment — which hasn’t turned a profit in over three years — has piled … Continue reading →

Posted in Ameristar, Current, Dining, Economy, Harrah's, International, Internet gambling, Marketing, Massachusetts, Ohio, Penn National, Pinnacle Entertainment, Planet Hollywood, Taxes, The Strip | 1 Comment

Quote of the Day

Posted on February 5, 2013 by David McKee

“A billion dollars will be spent on potato chips for Super Bowl Sunday, and that’s just at Gov. Christie’s house.” — a David Letterman joke about the avoirdupois of Gov. Chris Christie (R-N.J.) … re-told last night by Christie himself … Continue reading →

Posted in Current, Entertainment, Sports, TV | 1 Comment

Best Casino Ad Ever (Not!); Another Pinnacle boo-boo

Posted on February 1, 2013 by David McKee

If you live in the greater Las Vegas metropolitan area, you’ve probably had a stiff dose of this ad, which is in heavy rotation during the morning news shows. I don’t know whether to be impressed that a grind joint … Continue reading →

Posted in Boulder Strip, Entertainment, Marketing, Pinnacle Entertainment, TV | 1 Comment

Case Bets: Super Bowl, WMS, Bally, Wynn, Penn vs. MGM

Posted on February 1, 2013 by David McKee

“The twilight’s last reaming”?!?!? Christina Aguilera said it, I didn’t. Of all the proposition bets being made on Sunday’s “Big Game” (the favored Vegas euphemism), my favorite is how long it will take Alicia Keys to crawl through the National … Continue reading →

Posted in Architecture, Bally Technologies, Current, Economy, Entertainment, IGT, International, Macau, Maryland, Massachusetts, MGM Mirage, Penn National, Pennsylvania, Scientific Games, Slot routes, Sports, Steve Wynn, Tourism, Wall Street, WMS Industries | Comments Off on Case Bets: Super Bowl, WMS, Bally, Wynn, Penn vs. MGM

Penn lowers sights; Sands’ $3 billion quarter

Posted on January 31, 2013 by David McKee

Penn National Gaming trimmed its 2013 revenue projections today by 3% — not surprising, given the “headwinds” represented by recent tax changes that will eat into Americans’ discretionary income. Sluggish early slot performance in the Columbus and Toledo markets was … Continue reading →

Posted in Current, Economy, Election, Marketing, Maryland, Ohio, Penn National, Pennsylvania, Sheldon Adelson, Singapore, The Strip, Wall Street | 1 Comment

Merger of the Nerds; Cosmo picketed

Posted on January 31, 2013 by David McKee

With 2013 shaping up as a good year for slot sales, Scientific Games has chosen this moment to pounce upon WMS Industries, one of the oldest, biggest and most-respected firms in the industry. SGMS shares promptly leapfrogged from $8.93 to … Continue reading →

Posted in Cosmopolitan, Culinary Union, Current, Harry Reid, IGT, Internet gambling, Politics, Scientific Games, Sheldon Adelson, Station Casinos, The Strip, Wall Street, WMS Industries | 2 Comments

Case Bets: Magic Mike; Bahamas boo gambling; New moves in Massachusetts, Philly

Posted on January 30, 2013 by David McKee

Sheldon Adelson being too busy trying to dictate American foreign policy, it was left to his Number Two Man, COO Michael Leven (left) to go to Toronto and make the case for a Las Vegas Sands megaresort. Leven soft-pedaled the … Continue reading →

Posted in Current, Dan Gilbert, Florida, Harrah's, International, Massachusetts, MGM Mirage, Pennsylvania, Regulation, Sheldon Adelson, Singapore, Steve Wynn, Taxes, The Strip, Tourism, Transportation, Tribal | 2 Comments

Hart’s war; Cramer lurves Adelson; Penn’s good deed

Posted on January 30, 2013 by David McKee

As the clock ticks toward a shareholder fight over International Game Technology, CEO Patti Hart tried to rally her troops with a bit of good news. IGT has inked a pact to sell 1,375 VLTs to Saskatchewan, representing one-third of … Continue reading →

Posted in Economy, IGT, Illinois, International, M Resort, Penn National, Sheldon Adelson, Slot routes, Technology, TV, Wall Street | 4 Comments

Vegas beyond the Strip … way beyond

Posted on January 29, 2013 by David McKee

Some of you — and you know who you are — get to Las Vegas several times a year but rarely have the chance to foray far past either the Las Vegas Strip or Downtown. (It’s the same with me … Continue reading →

Posted in Dining, Downtown, Entertainment, Environment, Riviera, The Strip, Tourism | Comments Off on Vegas beyond the Strip … way beyond

Ader strikes at IGT; Government bailout for Trump rejected

Posted on January 28, 2013 by David McKee

Rumbles of mutiny against International Game Technology CEO Patti Hart have been growing in volume for quite some time. Those growls rose to a shout today with an e-mail blast from The Ader Group, soliciting shareholder proxies for the March … Continue reading →

Posted in Current, Donald Trump, Economy, Harrah's, IGT, Illinois, International, Slot routes, Taxes, Technology, Wall Street | Comments Off on Ader strikes at IGT; Government bailout for Trump rejected

Cap-and-trade at Sands; SkyFail: The sequel

Posted on January 28, 2013 by David McKee

Ever since the government of Macao put a hard cap on the number of table games in the enclave, casino operators have been forced to do a certain amount of cap-and-trade. In order to stock up Sands Cotai, 200 tables … Continue reading →

Posted in CityCenter, Current, Entertainment, Environment, Harrah's, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, Regulation, Sheldon Adelson, Singapore, Stanley Ho, The Strip, Wall Street | 2 Comments

Five weeks for Sahara Sam

Posted on January 25, 2013 by David McKee

That’s how much time Sam Nazarian has to scare up $115 million from overseas sources. If the deal isn’t done by Feb. 28, $300 million that’s currently in escrow quietly goes away. In exchange for offshore capital, Nazarian has to … Continue reading →

Posted in Cosmopolitan, Current, Entertainment, George Maloof, Goldman Sachs, International, Regulation, Sahara, Sports, The Strip, Tourism, Wall Street | 4 Comments

If Gary Loveman ran America … plus the usual Trump mockery

Posted on January 24, 2013 by David McKee

That’s essentially the ‘what if’ scenario taken on by Las Vegas Sun columnist J. Patrick Coolican (virtually the only person left at the Sun who’s worth reading). He’s weighed the pros and cons of the Loveman Gang, er, Business Roundtable … Continue reading →

Posted in Boyd Gaming, Current, Donald Trump, Economy, Harrah's, Massachusetts, The Strip | 3 Comments

Boyd tightens belt; Detroit defies Ohio threat; Tilman makes a boo-boo

Posted on January 23, 2013 by David McKee

It’s time to pay the piper for Boyd Gaming‘s $1.5 billion takeover of Peninsula Gaming and Boyd employees are the first ones feeling the pinch. Three vice presidents — including 13-year Boyd veteran Dan Stark — and roughly 250 employees … Continue reading →

Posted in Atlantic City, Boyd Gaming, Current, Economy, Iowa, Louisiana, MGM Mirage, Ohio, Penn National, Pinnacle Entertainment, Regulation, Revel, Tilman Fertitta, Tribal, Warner Gaming | Comments Off on Boyd tightens belt; Detroit defies Ohio threat; Tilman makes a boo-boo

Maryland: Who’s got the last laugh now?; Murren goes North, other companies look South

Posted on January 23, 2013 by David McKee

MGM Resorts International, that’s who. As predicted, a lawsuit filed to overturn last November’s casino expansion was laughed out of court. Judge Ronald A. Silkworth called the litigation “baseless,” which is a nice way of saying, “Thanks for wasting my … Continue reading →

Posted in Cirque du Soleil, Current, Economy, Entertainment, Florida, International, Iowa, MGM Mirage, Nebraska, Penn National, Pinnacle Entertainment, Politics, Racinos, Sheldon Adelson, Taxes, Texas, Tribal | Comments Off on Maryland: Who’s got the last laugh now?; Murren goes North, other companies look South

Enter the Dragon

Posted on January 22, 2013 by David McKee

It’s not clear what Lady Luck owner Andrew B. Donner has on his mind but he’s been gobbling up obscure little hotels over on the east side of Downtown. It’s out past the defunct Western casino, so we’re talking way … Continue reading →

Posted in Current, Downtown, Economy, Tamares Group | 2 Comments

Quote of the Day

Posted on January 22, 2013 by David McKee

“[W]e are lowering our 4Q12, 2013, and 2014 forecasts given sluggish regional gaming trends, earlier than expected cannibalization impacts, and a slow start at Hollywood Columbus.” — Deutsche Bank analyst Carlo Santarelli, on Penn National Gaming. Hmmmm, has a familiar … Continue reading →

Posted in Current, Economy, Ohio, Penn National, Wall Street | Comments Off on Quote of the Day

Adelson fleeing Pennsylvania

Posted on January 18, 2013 by David McKee

Back when Las Vegas Sands was waffling over the completion of Sands Bethlehem and rattling its tin cup for joint-venture partners, I suspected that Sheldon Adelson had lost his stomach for the project and would probably sell it. Sands has … Continue reading →

Posted in Ameristar, Current, Genting, New York, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Racinos, Sheldon Adelson, Steve Wynn, The Strip, Tribal | 3 Comments

Et tu, Dan?

Posted on January 17, 2013 by David McKee

Seems there’s no honor among business partners: While lugging Caesars Entertainment on his back from Cleveland to Cincinnati and thence to Baltimore, mogul Dan Gilbert had a side deal of his own going. He’s buying a majority stake in Greektown … Continue reading →

Posted in Current, Dan Gilbert, Detroit, Harrah's, International, Marketing, Ohio | 3 Comments

Would you trust Gary Loveman with your Social Security?

Posted on January 17, 2013 by David McKee

In addition to presiding over the most grotesquely indebted company — by far — in the casino industry, Caesars Entertainment CEO/President/Chairman/Pontifex Maximus/Generalissimo Gary Loveman also wants to dictate the manner in which we eke out our “golden years.” Amazingly, somebody … Continue reading →

Posted in Current, Dan Gilbert, Economy, Election, Harrah's, history, International, Louisiana, Macau, MGM Mirage, Mississippi, Problem gambling, TV, Wall Street | 14 Comments