Author Archives: David McKee

About David McKee

Bio

Vegas Right Now = Bargain Country

Posted on July 2, 2008 by David McKee

While the Las Vegas Convention & Visitors Authority may blanch from peddling bargain-oriented messages, we don’t. While it wasn’t that long ago that some of us were mourning the apparent demise of on-Strip bargains — or redefining said bargains as … Continue reading →

Posted in Boulder Strip, Harrah's, LVCVA, Macau, MGM Mirage, Riviera, Sheldon Adelson, Station Casinos, The Strip, Wall Street | Comments Off on Vegas Right Now = Bargain Country

Denial in the suites

Posted on July 1, 2008 by David McKee

Gary Loveman must be working on his stand-up act. In today’s Wall Street Journal, he calls the present economic pickle “the toughest environment we’ve faced.” It might not be quite so difficult had Loveman not steered Harrah’s Entertainment (and its … Continue reading →

Posted in Columbia Sussex, Harrah's, Isle of Capri, Penn National, Station Casinos, Wall Street | Comments Off on Denial in the suites

Court smacks down ColSux; Pinball and Dragons

Posted on July 1, 2008 by David McKee

This just in: The legal appeal by Columbia Sussex of its New Jersey license denial has been ashcanned by an appellate court. In a 44-page ruling, the court sided with the New Jersey Casino Control Commission, writing — in part … Continue reading →

Posted in Animals, Atlantic City, Columbia Sussex, MGM Mirage, Regulation, The Strip | Comments Off on Court smacks down ColSux; Pinball and Dragons

Tripped up by Trop

Posted on July 1, 2008 by David McKee

State-appointed conservator Justice Gary Stein continues to trip over his shoelaces in his efforts to sell the Atlantic City Tropicana. Amazingly, the New Jersey Casino Control Commission still backs him, even though Stein has given commission members precious little reason … Continue reading →

Posted in Atlantic City, Columbia Sussex, Regulation | Comments Off on Tripped up by Trop

Lady Luck deal in offing

Posted on June 30, 2008 by David McKee

On Wednesday, the Las Vegas City Council is scheduled to vote on an agreement that may finally re-start development of the long-defunct Lady Luck Hotel & Casino. As you may recall, the Henry Brent Co. planned to convert half the … Continue reading →

Posted in Downtown | Comments Off on Lady Luck deal in offing

"Raking" it in at Trump

Posted on June 27, 2008 by David McKee

Once I'd read that Trump Plaza had gone to automated no-dealer poker, my first thought was, "What becomes of the 'rake'?" Not to worry: The machines have taken care of it. Or, as Casino Manager Anthony Spagno was kind enough … Continue reading →

Posted in Atlantic City, Columbia Sussex, Donald Trump, Louisiana, Penn National, Pinnacle Entertainment, Sahara, The Strip | Comments Off on "Raking" it in at Trump

Something's brewing on Koval; Echelon goes underground

Posted on June 26, 2008 by David McKee

Harrah’s Entertainment continues to demolish the low-rise apartment dwellings it accumulated behind its Barbary Coast/Flamingo/Imperial Palace/Harrah’s Las Vegas cluster of properties. Also, a shiny new fleet of construction trailers now sits where Bourbon Street‘s hotel tower once did. Could we … Continue reading →

Posted in Boyd Gaming, Harrah's, MGM Mirage, Movies, The Strip | Comments Off on Something's brewing on Koval; Echelon goes underground

Case Bets: Airport, Encore, Pahrump, Roadhouse

Posted on June 25, 2008 by David McKee

You know things are bad when McCarran International Airport offers space for three hotel-registration kiosks (ranging from 525 to 935 square feet, starting at $200/foot) and can’t find takers for all of them. Fifteen possible candidates were solicited and, when … Continue reading →

Posted in Boulder Strip, Current, Harrah's, MGM Mirage, Sheldon Adelson, Steve Wynn, The Strip | Comments Off on Case Bets: Airport, Encore, Pahrump, Roadhouse

Quagmire at the Trop

Posted on June 23, 2008 by David McKee

So the feckless — and costly — Tropicana conservatorship of Justice Gary Stein is to drag on still further. Let’s see: Bids that were supposedly “unreasonably lower” but which Stein refuses to share with the public. A wholesale chucking-out of … Continue reading →

Posted in Atlantic City, Columbia Sussex, Donald Trump, Regulation, The Strip | Comments Off on Quagmire at the Trop

"Risky" Harrah's; Yanks Heart Seminoles

Posted on June 20, 2008 by David McKee

Reuters reported this week that the debt carried by Harrah's Entertainment “may weaken from already distressed level as heavy capital spending and interest payments absorb cash flows at a time when the casino operator is also facing declining gambling revenues.” … Continue reading →

Posted in Baseball, Harrah's, Tribal, Wall Street | Comments Off on "Risky" Harrah's; Yanks Heart Seminoles

Turnaround for Lady Luck?

Posted on June 20, 2008 by David McKee

A reliable source sees some light at the end of the Lady Luck tunnel: “CIM took ownership of the timeshare property last Oct. as LL Timeshare. Just this month they’re doing the individual deed assignments.” Don’t get your hopes up … Continue reading →

Posted in Downtown, International, James Packer, Macau, MGM Mirage, Sheldon Adelson, Stanley Ho, Steve Wynn, Wall Street | Comments Off on Turnaround for Lady Luck?

Blasts from the past

Posted on June 18, 2008 by David McKee

Snuggled inconspicuously in a recent El Cortez press release was the disclosure that the newly reconfigured ownership will include one Lonny Zarowitz. The aforesaid Zarowtiz figures briefly in John L. Smith's Running Scared: The Life and Treacherous Times of Las … Continue reading →

Posted in Downtown, Harrah's, International, Regulation, Steve Wynn, The Strip, TV | Comments Off on Blasts from the past

Terrible news for Vegas

Posted on June 11, 2008 by David McKee

Comment is superfluous: This headline says it all. At least I won't have to explain anymore why I don't own a car.

Posted in Downtown, The Strip | Comments Off on Terrible news for Vegas

Good news for the Boardwalk

Posted on June 11, 2008 by David McKee

May 2008 was only the fourth-best May in Atlantic City’s 30-year history of casino gambling, but it was good enough to qualify as cause for celebration. The New Jersey Casino Control Commission has the full breakout, from which a few … Continue reading →

Posted in Atlantic City, Boyd Gaming, Pennsylvania, Regulation | Comments Off on Good news for the Boardwalk

"Casino Bonds Crush Harrah's"

Posted on June 3, 2008 by David McKee

That’s Bloomberg, bearing the dire news that casino junk-bond debt is “generating the worst return for investors as companies from … Harrah’s Entertainment Inc. to Herbst Gaming Inc. risk bankruptcy under the weight of their debt.” With a return of … Continue reading →

Posted in Atlantic City, Columbia Sussex, Detroit, Donald Trump, Harrah's, Herbst Gaming, Indiana, Station Casinos, TV, Wall Street | Comments Off on "Casino Bonds Crush Harrah's"

Laughing my … off

Posted on June 3, 2008 by David McKee

What’s the best Vegas-related Web site? Too many too choose from, I say. But I’m definitively certain I’ve found the funniest. If you’re a  fan of CheapoVegas.com, you’ll absolutely love its Casino Boy Graveyard. Yes, it’s a stroll down memory … Continue reading →

Posted in Downtown, The Strip | Comments Off on Laughing my … off

Trop Trojan Horse barred from gates

Posted on June 2, 2008 by David McKee

Much to the dismay of senior debtholders, perhaps, a Delaware bankruptcy judge OK'd $67 million in additional borrowing by Tropicana Entertainment, money the company says it needs for operational expenses. However, the court backhanded an even bigger loan offer from … Continue reading →

Posted in Columbia Sussex, Harrah's, Isle of Capri | Comments Off on Trop Trojan Horse barred from gates

This just in …

Posted on May 30, 2008 by David McKee

So Tropicana Atlantic City trustee Justice Gary Stein wants to toss the existing bids for the property … possibly because better ones are being dangled before him. As a consequence, he wants to restart the clock, which would push the … Continue reading →

Posted in Atlantic City, Columbia Sussex, Detroit, Donald Trump, Macau, MGM Mirage, Regulation | Comments Off on This just in …

The curse of Columbia Sussex

Posted on May 30, 2008 by David McKee

Unsecured Tropicana Entertainment creditors are opposing Columbia Sussex's effort to borrow $67 million in operating capital (which would push existing creditors even further toward the back of the queue). The Wilmington, Del., bankruptcy court has yet to rule. Whoops. By … Continue reading →

Posted in Columbia Sussex, Harrah's, The Strip | Comments Off on The curse of Columbia Sussex

Bargains? Shhhhhhhhhhhh!

Posted on May 28, 2008 by David McKee

Liz Benston takes a look today at the newest message from the Las Vegas Convention & Visitors Authority and finds the LVCVA “thinks it’s bad form to make references to ‘affordable’ and ‘cheap.’” Oh yes, God forbid anybody should think … Continue reading →

Posted in Atlantic City, California, Downtown, Harrah's, LVCVA, Marketing, MGM Mirage, Sheldon Adelson, Station Casinos, The Strip | Comments Off on Bargains? Shhhhhhhhhhhh!