Author Archives: David McKee

About David McKee

Bio

Case Bets: Stanley Ho in Vegas?, HRH grows but Morgans shrinks

Posted on December 11, 2008 by David McKee

A local columnist raises the spectre of Stanley Ho getting back-door access into Las Vegas via James Packer‘s acquisition of Cannery Resorts. This isn’t the first time I’ve heard this question raised and, call me complacent, but I believe it … Continue reading →

Posted in Boyd Gaming, Cannery Casino Resorts, Colony Capital, Columbia Sussex, Cosmopolitan, Economy, Harrah's, Herbst Gaming, Isle of Capri, James Packer, Macau, MGM Mirage, Morgans Hotel Group, Stanley Ho, Station Casinos, The Strip, Tropicana Entertainment, Wall Street | Comments Off on Case Bets: Stanley Ho in Vegas?, HRH grows but Morgans shrinks

Quote of the Day

Posted on December 11, 2008 by David McKee

“I won’t quote back some of the things that were said about me. This is a family program, I know.” — President-elect Barack Obama, referring to the thuggish and expletive-laden locutions favored by Gov. Rod Blagojevich (D-IL), whose crimes against … Continue reading →

Posted in Architecture, Illinois | Comments Off on Quote of the Day

Harrah's honored

Posted on December 11, 2008 by David McKee

Harrah's Entertainment can use any business leverage it can get these days and it just received the endorsement of Stand Out for Equality, an opposition movement spurred by the passage of Proposition 8 in California (where Harrah's Rincon has been … Continue reading →

Posted in California, Harrah's, MGM Mirage, Politics, The Strip | Comments Off on Harrah's honored

Quote of the Day

Posted on December 10, 2008 by David McKee

"They’re taking a real gamble. It’s like playing poker with the capital markets." — KDP Investment Advisors bond analyst Barbara Cappaert, regarding a rejected Station Casinos debt swap that would have covered the butts of Station insiders and Colony Capital … Continue reading →

Posted in Colony Capital, Economy, Station Casinos, Wall Street | Comments Off on Quote of the Day

What'$ in a name?

Posted on December 10, 2008 by David McKee

A reader recently enquired as to what became of the plan to re-name Harrah's Entertainment as Caesars Entertainment. When I asked Harrah's as to whether that was still on, no response was forthcoming. My questioner wanted to know, "Do you … Continue reading →

Posted in Atlantic City, Boyd Gaming, Detroit, Economy, Harrah's, Herbst Gaming, Indiana, Marketing, MGM Mirage, Sheldon Adelson, The Strip | Comments Off on What'$ in a name?

Nevada in October: It was the pits

Posted on December 10, 2008 by David McKee

Taken at face value, October's revenue numbers for Nevada casinos were calamitous. Looked at in context (i.e., coming off a 10% increase from October '06 to '07) they were … still bad. But I'm going to resist the temptation to … Continue reading →

Posted in Boulder Strip, Current, Downtown, Economy, Harrah's, Lake Las Vegas, Laughlin, Station Casinos, The Strip | Comments Off on Nevada in October: It was the pits

Expunging the Columbia Sussex brand

Posted on December 8, 2008 by David McKee

If Columbia Sussex ran its Tropicana Entertainment casino hotels the way it maintains its regular hotels, TropEnt CEO Scott Butera is looking at a big refurbishment tab. Southwest Hospitality Management picked up a couple of ColSux discards in Charleston, W.V., … Continue reading →

Posted in Columbia Sussex | Comments Off on Expunging the Columbia Sussex brand

Fear of flying

Posted on December 5, 2008 by David McKee

There may have been more to James Packer‘s inability to attend his scheduled Nevada Gaming Control Board appearance than not having a plane ticket (which was more or less the official excuse). Today’s Sydney Morning Herald reports that Packer’s Crown … Continue reading →

Posted in Cannery Casino Resorts, International, James Packer, Macau, Regulation | Comments Off on Fear of flying

Collapse in Kansas; Herbst is toast

Posted on December 5, 2008 by David McKee

And then there was one. A Cordish Co./Kansas Speedway joint venture has pulled the chicken switch on a $400 million casino project. This leaves avionics firm Butler National Service Corp., with its Dodge City concession, as the only company with … Continue reading →

Posted in Ameristar, Economy, G2E, Harrah's, Herbst Gaming, Horseracing, International, Kansas, Macau, MGM Mirage, Penn National, Pinnacle Entertainment, Regulation | Comments Off on Collapse in Kansas; Herbst is toast

New blogs on the block

Posted on December 4, 2008 by David McKee

A couple of new bloggers just rode into town, meaning I’m going to have raise my game a bit. Actually, they’ve been in town for quite a long time and know where many of the bodies are buried, but are … Continue reading →

Posted in Current, Downtown, MGM Mirage, Movies, The Strip | Comments Off on New blogs on the block

Quote of the Day

Posted on November 26, 2008 by David McKee

"The massive staff layoffs, the turnover in senior management accompanied by their replacement with personnel with less extensive casino management experience, the cleanliness crisis experienced in the late winter-spring 2007, the regulatory violations directly related to inadequate staffing, and the … Continue reading →

Posted in Atlantic City, Columbia Sussex, Regulation | Comments Off on Quote of the Day

Palace more ‘impotent’ than ever

Posted on November 26, 2008 by David McKee

More nails are being pounded into the coffin of the Imperial Palace. The official word is that eateries The Ming and Cockeyed Clam are closed for good. As for the others, operating hours are being truncated “periodically. Nothing is written … Continue reading →

Posted in Columbia Sussex, Harrah's, Tropicana Entertainment | Comments Off on Palace more ‘impotent’ than ever

Sally Rand has left the building

Posted on November 26, 2008 by David McKee

That corpse you may have stumbled across while strolling the riverbanks of Pittsburgh is Pennsylvania’s ‘one and one-third‘ rule. It was a legislative fig leaf whose ostensible purpose was to prevent the prime casino/racino opportunities in the state from being … Continue reading →

Posted in Don Barden, Downtown, Harrah's, Illinois, Pennsylvania, Regulation, Tropicana Entertainment | Comments Off on Sally Rand has left the building

Packer's reverse Midas Touch

Posted on November 25, 2008 by David McKee

Remember what I wrote yesterday about James Packer being bad luck for everything with which he gets involved? Now Station Casinos is the latest victim of his reverse Midas Touch (and he owns a portion of Harrah's Entertainment, too). Maybe … Continue reading →

Posted in Cannery Casino Resorts, Harrah's, James Packer, Station Casinos | Comments Off on Packer's reverse Midas Touch

Case Bets: Hooters; Defection at Borgata; Yung vs. Butera

Posted on November 25, 2008 by David McKee

"All of the economists who gave us information predict 2007 is going to be a year where the economy slows throughout the country and Nevada. Then we will see a pickup in 2008-09." — Deborah Pierce, CFO, Hooters Hotel, Las … Continue reading →

Posted in Atlantic City, Boyd Gaming, Columbia Sussex, Economy, International, Regulation, Tropicana Entertainment | Comments Off on Case Bets: Hooters; Defection at Borgata; Yung vs. Butera

G2E scuttlebutt

Posted on November 24, 2008 by David McKee

Could Herbst Gaming President Ferenc Szony be headed to the Cosmopolitan? That was one of the rumors bruited about at G2E last week. It would make sense. Szony, one of S&G's favorite gaming executives, is no stranger to operating in … Continue reading →

Posted in Cosmopolitan, G2E, Harrah's, Herbst Gaming, James Packer, Reno | Comments Off on G2E scuttlebutt

Vegas electoral oddity

Posted on November 24, 2008 by David McKee

Today's Las Vegas Sun has a precinct-by-precinct breakdown of how President-elect Barack Obama won the Las Vegas metro area. In colorful map form, it shows Obama winning Downtown (handily) and most of the Strip … save for MGM Mirage's string … Continue reading →

Posted in Downtown, Election, Lake Las Vegas, MGM Mirage, The Strip | Comments Off on Vegas electoral oddity

Quote of the Day

Posted on November 22, 2008 by David McKee

“If they don't [know how], it strikes me that they lack sufficient business judgment to be in the industry in the first place.” — New Jersey Supreme Court Justice Roberto Rivera-Soto on Columbia Sussex's inability to form an independent audit … Continue reading →

Posted in Atlantic City, Columbia Sussex, Regulation, Tropicana Entertainment | Comments Off on Quote of the Day

Atlantic City Death Watch II; Banquo's Ghost

Posted on November 22, 2008 by David McKee

Wow, I never thought we’d have our second installment so hard upon the first. But no sooner had S&G ticketed Resorts Atlantic City for a visit to Intensive Care comes word that it’s going to miss a $10 million loan … Continue reading →

Posted in Atlantic City, Colony Capital, Columbia Sussex, MGM Mirage, Regulation, Steve Wynn, The Strip, Tropicana Entertainment | Comments Off on Atlantic City Death Watch II; Banquo's Ghost

Atlantic City Death Watch

Posted on November 21, 2008 by David McKee

New Jersey's Casino Control Commission has come out with a grim set of numbers regarding gross operating profitability in Atlantic City's casinos during 3Q08. And, as bad as these numbers sound, once the cost of operation is subtracted, a $121 … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colony Capital, Donald Trump, Economy, Harrah's, Station Casinos, Tropicana Entertainment | Comments Off on Atlantic City Death Watch