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- 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
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Author Archives: David McKee
Strip clocked, locals stronger; Montana reopens first
Nevada casinos won $618 million in a Covid-19-truncated March, with the Las Vegas Strip leading the plunge with a 46% fall to $300 million. Las Vegas locals play was remarkably strong under the circumstances, down only 20.5%, although that number may … Continue reading
Posted in Atlantic City, Boulder Strip, Boyd Gaming, Donald Trump, Downtown, Economy, Election, Golden Gaming, Health, Internet gambling, Lake Tahoe, Laughlin, Mesquite, Nevada, North Las Vegas, Penn National, Pennsylvania, Reno, The Strip, Wall Street, Wendover, William Hill
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Boyd doing well; What price Vegas?
Boyd Gaming posted net revenues of that were down 18% for 1Q20, reflective of mid-March casino closures. JP Morgan analyst Joseph Greff termed the results ones “that reflected relatively strong trends in the first two months of the quarter.” Since … Continue reading
Posted in Boyd Gaming, California, Churchill Downs, Cosmopolitan, Derek Stevens, Downtown, Economy, Hard Rock International, Health, Horseracing, Las Vegas Sands, LVCVA, Macau, Massachusetts, MGM Resorts International, Pennsylvania, Regulation, Resort fees, The Strip, Wall Street, Wynn Resorts
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Quote of the Day
“I don’t want to be in a society where we’re setting up systems for many people to die.”—Stephen Pagliuca, co-chairman of Bain Capital.
Las Vegas breakthrough; Shoot the messenger
Las Vegas-based Avidium Labs says it has developed a Covid-19 test that has been validated at laboratories in California and New York. Said CEO Evan Louie, “Our team is diligently working on getting our tests to a wide range of … Continue reading
Quote of the Day
“Given the way some people are acting in states that have already started easing restrictions—flocking to beaches without maintaining physical distancing, for example—what we really need to ramp up is IQ testing.”—Boston Globe columnist Teresa Hanafin
Posted in Health
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Sacrificial rites in Las Vegas
Without pointing any fingers of blame, the Coronavirus pandemic has laid bare a feeble testing response and an inability to get a vaccine before the public until year’s end at earliest (which we should have been expecting all along). It’s also … Continue reading
Twin River advances, Maverick retreats; Sands optimistic
Twin River Holdings is now a player in Atlantic City. It must have driven a hard bargain, too, picking up lowly Bally’s for $25 million, mere pocket change. It had Caesars Entertainment and Eldorado Resorts over a barrel, as keeping … Continue reading
MGM: Survey says …; Odds favor Harris for VP
MGM Resorts International wants your opinion … well, some of you anyway. In a survey obtained by Scott Roeben of VitalVegas, Leo the Lion poses an array of questions to Platinum- and Noir-tier customers. As Roeben says, it reveals more than … Continue reading
Quote of the Day
“We don’t need to be stockpiling toilet paper and hand sanitizer; we need to stockpile patience.”—NBC News correspondent Harry Smith.
Posted in Current
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Quote of the Day
“Under no circumstance should our disinfectant products be administered into the human body (through injection, ingestion, or any other route).”—Lysol, in response to medical advice dispensed by the White House. Excuse us, we’re going to mainline some Clorox.
New opening for ‘Net bets; Goodman still under fire
With gaming reeling—and tax revenues along with it—Internet gambling may start looking more attractive to states that have previously scorned it. Sports betting has taken the lead, with Colorado poised to enter that fray. However, Morgan Stanley analyst Thomas Allen … Continue reading
Posted in Atlantic City, Caesars Entertainment, Colorado, Culinary Union, Economy, Eldorado Resorts, GLPI, Health, Internet gambling, Morris Bailey, Nevada, New Jersey, Oregon, Penn National, Real Estate, Sports betting, Taxes, The Strip, Tilman Fertitta, Tribal, TV, Unite-Here, Wall Street, Wisconsin
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Rescue for small casinos; Stitt makes a deal (or two)
If at first you don’t succeed, Bill Miller, try, try again. Persistence for the American Gaming Association prexy paid off with a new set of Small Business Administration rules for Paycheck Protection Program loans that include all business that receive … Continue reading
Posted in AGA, Cantor Gaming, Economy, Las Vegas Sands, Lotteries, Mattress Mack, Oklahoma, Pets, Sports, Sports betting, Texas, The Strip, Tilman Fertitta, Tourism, Transportation, Tribal
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Quote of the Day
“Nobody likes to hear this, but it is the truth. We are not living through the final phase of this crisis; we are still at its beginning. We will still have to live with this virus for a long time.”—German Chancellor … Continue reading
Sands shakes off doldrums; MGM sitting pretty
Las Vegas Sands posted a Covid-19 impacted 1Q20. Room rates nudged upward year/year from $263 to $266, at 87% occupancy, resulting in a decline in revenue per available room from $249 to $199. Sands was modestly down at the tables, … Continue reading
Goodman vs. Sisolak, III; Good news for Virgin Hotel
It’s a good thing that stupidity is not contagious or the mayor of Las Vegas would be Patient Zero. Has Carolyn Goodman (I) been sneaking sips of her husband’s martinis? A seemingly inebriated
Quote of the Day
“Carolyn Goodman should resign before lunch arrives today. She is an embarrassment to my hometown.”—Jimmy Kimmel on Her Honor’s train wreck interview with Anderson Cooper.
Trimming ship at Mohegan Sun; Tennessee’s bad bet
Slot win at Mohegan Sun was $19.5 million (-62%) last month, while Foxwoods Resort Casino didn’t do quite so well, winning $14 million (-67%) before closing on March 17, as did Mohegan Sun. The silver lining for the tribes is … Continue reading
Posted in Foxwoods, Internet gambling, Mohegan Sun, Penn National, Sports betting, Taxes
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Carnage in Louisiana; Documentary slams MGM
Louisiana casinos grossed $97 million last month, having been closed on March 17. April appears to be a dead loss. Surprisingly, the Baton Rouge market was the least hard-hit although at -58% everything is relative. The 61% statewide plunge compares … Continue reading
Posted in Boyd Gaming, Caesars Entertainment, Charity, Churchill Downs, Dining, Eldorado Resorts, GLPI, Law enforcement, Louisiana, Mandalay Bay Massacre, MGM Resorts International, Movies, Penn National, Sahara, The Strip, Tilman Fertitta
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Hornbuckle, Sternlicht send conflicting messages; Virgin is ailing
Add MGM Resorts International to the short list of Las Vegas hoteliers announcing reopening strategies. In a five-minute video presentation, CEO William Hornbuckle summarized many of the company’s charitable efforts during the crisis (bolstered by a $500,000 contribution from Dubai … Continue reading
Case Bets
For decades, Pagcor has dabbled in both regulating and running casinos (imagine Caesars Entertainment having disciplinary oversight of the rest of the U.S. casino industry). In recent years it has made intermittent noises about selling off its 47 casinos and … Continue reading
Posted in Entertainment, Hard Rock Hotel, Health, Internet gambling, Philippines, Politics, Regulation, Slot routes, Sports betting, The Rio, Virgin Hotels, Westgate LV
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