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Recent Posts
- You can’t fix stupid; Good-bad news on the bayou
- If you can’t beat ’em, cheat ’em; Fun & games
- Pennsylvania soggy; Epic fail in North Carolina
- Sibella scandal spreads; Supremes forestall Seminoles
- Atlantic City rebounds; Sibella dumped; NFL suspicions
- MGM limping back; Atlantic City follies; Wall Street Jottings
- On and off the radio
- MGM crippled; Illinois & Indiana report; Bally’s shaky in Chi
- MGM paralyzed; DraftKings debacle; Mount Airy wins
- Bally’s opens, Chicago yawns; MGM, tree murderers
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- Alice Eskandari on Durango Station, slightly downsized
- David McKee on You can’t fix stupid; Good-bad news on the bayou
- American Gaming Guru on You can’t fix stupid; Good-bad news on the bayou
- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
- David McKee on Sibella scandal spreads; Supremes forestall Seminoles
- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
- David McKee on MGM crippled; Illinois & Indiana report; Bally’s shaky in Chi
- Paul Shanahan on MGM crippled; Illinois & Indiana report; Bally’s shaky in Chi
- ACGambler on MGM limping back; Atlantic City follies; Wall Street Jottings
- Bob on Bally’s opens, Chicago yawns; MGM, tree murderers
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- Sibella scandal spreads; Supremes forestall Seminoles - 56,830 views
- You can’t fix stupid; Good-bad news on the bayou - 56,712 views
- If you can’t beat ’em, cheat ’em; Fun & games - 55,056 views
- Pennsylvania soggy; Epic fail in North Carolina - 55,991 views
- Atlantic City rebounds; Sibella dumped; NFL suspicions - 55,971 views
- Profit vs. investment on the Strip - 1,055,431 views
- Lame nag; Frissora overpaid? - 578,721 views
- The evils of bingo; Wynn’s Aqueduct exit - 90,579 views
- That casino smell - 63,687 views
- Bally’s opens, Chicago yawns; MGM, tree murderers - 58,585 views
- MGM crippled; Illinois & Indiana report; Bally’s shaky in Chi - 58,190 views
- MGM paralyzed; DraftKings debacle; Mount Airy wins - 57,527 views
- MGM limping back; Atlantic City follies; Wall Street Jottings - 57,233 views
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Author Archives: David McKee
From bad to worse
British Reuters lays out a dire scenario for casino bonds, the second-most-distressed sector of the junk-bond market (only media firms are doing worse). "We believe it probably hasn't hit its bottom," is the grave verdict of Moody's Investors Service analyst … Continue reading
Posted in Columbia Sussex, Donald Trump, Harrah's, Isle of Capri, Morgans Hotel Group, Sheldon Adelson, Station Casinos, The Strip, Wall Street
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Quote of the Day
“The foundation of every successful company is its employees. We certainly recognize the value and hard work that each employee at the Tropicana has provided throughout the years and continues to provide every day. I look forward to getting to … Continue reading
Posted in Atlantic City, Columbia Sussex
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Trop sale stumbles forward … sorta
If Justice Gary Stein, the state-appointed trustee for the Atlantic City Tropicana Casino & Resort, isn’t the most inept public servant in America, it’s not for lack of effort. Add nepotism to his string of failings, as his ever-less-credible pronouncements … Continue reading
Posted in Atlantic City, Columbia Sussex, Harrah's, Indiana, MGM Mirage, Penn National, Pinnacle Entertainment, The Strip
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This is news?; plus Station/Harrah's/Echelon notes
Way back when Vestin Group made a loan to the Castaways that exceeded the doomed casino's appraised value (as revealed by a Vestin-commissioned appraisal that miraculously emerged when the Castaways filed for bankruptcy*), I did some digging into Vestin's financials. … Continue reading
Posted in Boyd Gaming, Harrah's, Morgans Hotel Group, Station Casinos, The Strip, Wall Street
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Trop turnaround?
While the New Jersey Casino Control Commission continues to bobble the sale of the Atlantic City Tropicana, at least its stewardship has arrested and perhaps finally the property's decline. While a 5.5% decline in business is nothing to crow over, … Continue reading
Posted in Atlantic City, Boyd Gaming, Colorado, Columbia Sussex, Donald Trump, Harrah's, Kansas, Station Casinos, Tribal
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More bankruptcies predicted
Financial Week weighs in the casino industry's current doldrums, amplifying the newly recurrent refrain that the revenue diversification which we thought would shield Las Vegas and other destination markets from the bad times is instead increasing its exposure to same. … Continue reading
Posted in Boyd Gaming, Herbst Gaming, Indiana, Morgans Hotel Group, Sheldon Adelson, The Strip, TV, Wall Street
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Quote of the Day
"Something which is fairly unique to a city the size of Las Vegas, is that the decisions of one or two individuals have the power to destabilize the entire city. We’re a one trick town … with only a few … Continue reading
Posted in Boyd Gaming, The Strip
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Case Bets: Luxor, Excalibur, Cannery East
MGM Mirage has provided a little more insight into just how much it’s doing in terms of spending on renovations to Luxor and Excalibur. “We are spending around $100M in improvements on each of these properties this year, and we … Continue reading
Posted in Boulder Strip, Boyd Gaming, Cannery Casino Resorts, James Packer, MGM Mirage, The Strip
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Don't tax me, bro!
Guess who's kvetching about his property tax bill? Why it's our old buddy, Columbia Sussex CEO William J. Yung III — or at least his surrogates at Horizon Vicksburg. It's been the better part of a year since Yung announced … Continue reading
Posted in Atlantic City, Columbia Sussex, Kansas, Mississippi, Morgans Hotel Group, Pennsylvania, Pinnacle Entertainment, Sheldon Adelson, Taxes, Tribal
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Robbing Luxor to pay (for) CityCenter?
No sooner had MGM Mirage brass sprayed Wall Street’s fire during yesterday’s earnings call than comes a new scare: Glenn Hausmann of Hotel Interactive Inc. reported that “A variety of industry suppliers who wished to speak off the record have … Continue reading
Posted in Columbia Sussex, MGM Mirage, The Strip
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Isle reduces risk in Florida
As we’re seeing, it’s not always a bad idea to scrap or delay an expansion. Such is the case with Isle of Capri‘s decision to allow the expiration of an agreement with Florida Gaming Corp. to turn Miami Jai-Alai into … Continue reading
Posted in Boyd Gaming, Florida, Isle of Capri, Kansas, Tribal
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Case Bets: MGM Mirage, Ameristar, Penn National
It almost goes without saying right now that any earnings report is going to come in slightly below Wall Street’s consensus. That’s just the way the dice are bouncing these days. Such is the case with MGM Mirage, where Strip … Continue reading
Posted in Ameristar, Colorado, Detroit, Harrah's, Illinois, Indiana, MGM Mirage, Penn National, The Strip, Wall Street
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Ola, Amigo!
As of yesterday, I'm a newly minted Amigo card holder, having joined Station Casinos' spinoff players club for its Fiesta properties. (Chalk up a very modest victory for Fiesta's spirited marketing efforts.) Why Station, having put nearly a decade of … Continue reading
Posted in Ameristar, Boulder Strip, George Maloof, Harrah's, MGM Mirage, Station Casinos, The Strip
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Man Bites Dog Dept.
A Republican senator running for reelection on the strength of his good relationship with … Sen. Barack Obama?!? Between that and the strong possibility that Sen. John McCain could win the presidency and yet see the national GOP sustain tremendous … Continue reading
Posted in Boyd Gaming, Election, Politics, The Strip, Wall Street
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Boyd Has Brass Balls
Yesterday, I got a hint that Something Big was going to be announced in today’s Boyd Gaming earnings report. Little did I suspect it would be the completely unprecedented (in my recollection) step of halting a megaresort project in mid-stream … Continue reading
Posted in Boyd Gaming, Morgans Hotel Group, Riviera, The Strip, Wall Street
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Ameristar: What makes sense?
Perhaps this is what happens when you outsource your business coverage to India, but Reuters had a story yesterday positing MGM Mirage and Harrah's Entertainment as two of the likeliest buyers for Ameristar Casinos. Uhhh, I hate to break this … Continue reading
Posted in Ameristar, Boyd Gaming, Downtown, Harrah's, James Packer, MGM Mirage, Mississippi, Missouri, Penn National, Pinnacle Entertainment, The Strip, Tribal, Wall Street
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America's biggest celebrity
Sen. John McCain‘s presidential campaign rolled out a unique tactic this week: complaining that McCain’s opponent is more popular and famous. I suppose you could call it “out of the box” thinking, though it seems a tad whiny to me. … Continue reading
Honey, I shrank Lake Las Vegas
Saying that a potentially ruptured pipe could drain Lake Las Vegas and turn it into one big-ass mud puddle in the desert conjures up quite an image. It’s also effective rhetoric if you’re trying to stampede the bankruptcy court into … Continue reading
Posted in Animals, Herbst Gaming, Lake Las Vegas, Pets, Station Casinos
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We're no Pyongyang!
A story about an unsightly, unfinished ziggurat in Pyongyang, North Korea afforded an architecture critic an opportunity to throw a roundhouse right at Las Vegas. Lumping it together with Shanghai as the bad-architecture capital of the world, California Polytechnic State … Continue reading
Posted in Architecture, Columbia Sussex, Downtown, Harrah's, Michael Gaughan, Stanley Ho, The Strip
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