Author Archives: David McKee

About David McKee

Bio

Wisdom from Wall Street

Posted on October 30, 2008 by David McKee

"Any gaming operator that postpones spending and preserves capital in this environment should be rewarded, in our view." — Stifel Nicolaus & Co. analyst Steven Wieczynski, reacting to news that MGM Mirage had put its Atlantic City and north-Strip projects … Continue reading →

Posted in Atlantic City, Boyd Gaming, MGM Mirage, Movies, Pennsylvania, Sheldon Adelson, The Strip, Wall Street | Comments Off on Wisdom from Wall Street

Boyd Takes Sanity Pill

Posted on October 29, 2008 by David McKee

After insisting right up to the bitter end, and then some, on going full-tilt with Echelon, now on hiatus for 7-12 months, Boyd Gaming CEO Keith Smith is modulating his tone. According to Reuters, "He emphasized that Boyd remains 'committed … Continue reading →

Posted in Boyd Gaming, Current, Morgans Hotel Group, The Strip | Comments Off on Boyd Takes Sanity Pill

Reader recommendations

Posted on October 28, 2008 by David McKee

Last week, I solicited recommendations for affordable hotel rooms, on behalf of a reader. For those of you who don't monitor the "Comments" threads, here's what some readers had to offer … • Why not the Main Street Station; it's … Continue reading →

Posted in Boyd Gaming, Downtown, Harrah's, The Strip | Comments Off on Reader recommendations

Just say ‘no’

Posted on October 25, 2008 by David McKee

Fall is in the air here and so is election fever. I’m just back from early voting and a honkin’ big Obama rally is gearing up on the other side of town, so the mind is full of matters electoral. … Continue reading →

Posted in Downtown, Election, Reno, Taxes, The Strip | Comments Off on Just say ‘no’

Case Bets: Sands bankruptcy?; California spite, Ted Binion still dead, etc.

Posted on October 24, 2008 by David McKee

The ‘B’ word. Yup, somebody finally said it. Stifel Nicolaus & Co. analyst Steven Wieczynski blames The Big Sands Sell-off on fears that “Las Vegas Sands is in jeopardy of running out of cash and going bankrupt.” Sands stock closed … Continue reading →

Posted in Animals, California, Election, Harrah's, Marketing, MGM Mirage, Politics, Sheldon Adelson, The Strip, Tribal, TV, Wall Street | Comments Off on Case Bets: Sands bankruptcy?; California spite, Ted Binion still dead, etc.

Is Peter Carlino crazy?

Posted on October 24, 2008 by David McKee

Now I know that Penn National is all a-flush with cash these days and CEO Peter Carlino is probably feeling bullish. Still, in a recent visit to Vegas to assess possible casino acquisitions, he's alleged to have acted like he … Continue reading →

Posted in Atlantic City, Downtown, Harrah's, MGM Mirage, Penn National, Riviera, Sahara, Steve Wynn, Tamares Group, The Strip, Tropicana Entertainment | Comments Off on Is Peter Carlino crazy?

Butera to NJCCC: Your people are dopes

Posted on October 23, 2008 by David McKee

Tropicana Entertainment has formally petitioned the New Jersey Casino Control Commission for the return of its former Atlantic City casino. Oh, to be in the room when the arguments are thrashed out! Short of conducting an exorcism of the spirit … Continue reading →

Posted in Atlantic City, Columbia Sussex, Current, Regulation, Tropicana Entertainment | Comments Off on Butera to NJCCC: Your people are dopes

A reader asks …

Posted on October 23, 2008 by David McKee

… for good hotel-room suggestions, for an upcoming trip — preferably something that's maybe a little underrated and/or off the beaten path. Since you guys (and gals) stay in Vegas hotels more than I do, it seemed best to throw … Continue reading →

Posted in Downtown, The Strip | Comments Off on A reader asks …

Sunday at The Palazzo with Sheldon

Posted on October 22, 2008 by David McKee

OK, so the big fella wasn't actually there, to the best of my knowledge, but let's not allow pedanticism to get in the way of a Stephen Sondheim reference. The Better Half and I partook of a $119/night room special … Continue reading →

Posted in Downtown, MGM Mirage, Sheldon Adelson, Tamares Group, The Strip, Tilman Fertitta | Comments Off on Sunday at The Palazzo with Sheldon

Adelson's megaphone muted

Posted on October 22, 2008 by David McKee

If Sen. John McCain pulls off the Nov. 4 comeback he’s predicting, it won’t be any thanks to Sheldon Adelson, who puts his mouth where his money is. (Hence those queasy-making odes to Chinese totalitarianism: “People seem to be living … Continue reading →

Posted in Columbia Sussex, Election, Kentucky, Macau, Pennsylvania, Sheldon Adelson | Comments Off on Adelson's megaphone muted

Smoke-filled room

Posted on October 21, 2008 by David McKee

Maybe all this fussin’ and frettin’ (some of it from yours truly) about casino smoking bans is masking the real issue: Casino expansion in the U.S. has finally hit the wall in the form of one big-ass recession. Five states … Continue reading →

Posted in Colorado, Harrah's, Louisiana, Mississippi, Pinnacle Entertainment, Tropicana Entertainment | Comments Off on Smoke-filled room

Plaza (the other one) & Gold Spike dispatches

Posted on October 21, 2008 by David McKee

According to the grapevine, El-Ad Properties' Plaza megaresort is not only a "go," but Credit Suisse and Goldman Sachs are likely financiers. That is, if El-Ad and partner Nochi Dankner kick in more equity (I'm hearing $150 million), having exuberantly … Continue reading →

Posted in Ameristar, Downtown, Tamares Group, The Strip, Wall Street | Comments Off on Plaza (the other one) & Gold Spike dispatches

Smoke-filled room

Posted on October 21, 2008 by David McKee

Maybe all this fussin’ and frettin’ (some of it from yours truly) about casino smoking bans is masking the real issue: Casino expansion in the U.S. has finally hit the wall in the form of one big-ass recession. Five states … Continue reading →

Posted in Colorado, Harrah's, Louisiana, Mississippi, Pinnacle Entertainment, Tropicana Entertainment | Comments Off on Smoke-filled room

Up in smoke

Posted on October 14, 2008 by David McKee

Few issues involving the casino industry cause such a conflict between intellect and emotion as that of second-hand smoke. Personally, I think even manure is less offensive to the nostrils than cigarette smoke — and it has fewer carcinogenic side … Continue reading →

Posted in Atlantic City, Colorado, Environment, Harrah's, Illinois, Regulation, Sheldon Adelson, The Strip | Comments Off on Up in smoke

… or not

Posted on October 10, 2008 by David McKee

I’ve been informed that Tropicana Entertainment owner William J. Yung III has signed an irrevocable proxy and cannot vote his shares, no matter how many he owns. Nor he can he regain the reins of the company. Whether that is … Continue reading →

Posted in Atlantic City, Downtown, Tropicana Entertainment | Comments Off on … or not

He's baaaaaaaaaack!

Posted on October 10, 2008 by David McKee

Score one for Columbia Sussex CEO William J. Yung III. The New Jersey Supreme Court will hear his appeal of the New Jersey Casino Control Commission's revocation of his license, even though a lower court booted it, 3-0. ColSux has … Continue reading →

Posted in Atlantic City, Columbia Sussex, Tropicana Entertainment | Comments Off on He's baaaaaaaaaack!

Quote of the Day

Posted on October 10, 2008 by David McKee

“It really wasn’t about a quarter. It was really a matter of understanding the slot payout tables.” — Boyd Gaming spokesman Rob Stillwell, on the subject of a 25-cent dispute that began at The Orleans and ended in front of … Continue reading →

Posted in Atlantic City, Boyd Gaming, Current, Labor, Regulation | Comments Off on Quote of the Day

Trop this!

Posted on October 9, 2008 by David McKee

The fourth time’s the charm — at least if you’re Justice Gary Stein, the tortoise-powered conservator of the Atlantic City Tropicana. Having prolonged the timeline for selling the mammoth hotel-casino three times already, he’s asking the state for a fourth … Continue reading →

Posted in Atlantic City, Columbia Sussex, Harrah's, Regulation, Tropicana Entertainment | Comments Off on Trop this!

Control Board changes its tune

Posted on October 9, 2008 by David McKee

Waaaaaaaaaaay back in 2000, the Aladdin 2.0 was struggling into being, and Jack Sommer and London Clubs International were at each others' throats. Sommer's shallow pockets had forced LCI into taking a much bigger stake in the megaresort than it … Continue reading →

Posted in Cannery Casino Resorts, Regulation, Station Casinos | Comments Off on Control Board changes its tune

Buddy, can you spare six billion?

Posted on October 7, 2008 by David McKee

Chuck Monster of VegasTripping.com is a man of few words, but he doesn't miss much (and his Dodgers are four wins shy of the World Series). He's run the numbers on Dubai World's purchase of MGM Mirage stock and found … Continue reading →

Posted in Boyd Gaming, Fontainebleau, International, MGM Mirage, Tamares Group, The Strip | Comments Off on Buddy, can you spare six billion?