Author Archives: David McKee

About David McKee

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Quote of the Day

Posted on August 22, 2019 by David McKee

“The door of a bigoted mind opens outwards so that the only result of the pressure of facts upon it is to close it more snugly.”—Ogden Nash

Posted in Cretins | 1 Comment

What if they built a megaresort and nobody came?

Posted on August 20, 2019 by David McKee

Resorts World Catskills made it into the New York Times and not in a good way. A feature story focused on the $1.2 billion megaresort’s financial difficulties, caused in part by nine-figure loans. Empire Resorts says the casino does not … Continue reading →

Posted in Caesars Entertainment, Cambodia, CityCenter, Genting, Internet gambling, Massachusetts, MGM Resorts International, Neil Bluhm, New York, Penn National, Politics, Racinos, Regulation, Rush Street Gaming, Steve Wynn, Taxes, The Strip, Tribal | 2 Comments

MGM Springfield plays rope-a-dope; Big break for Cordish

Posted on August 20, 2019 by David McKee

With MGM Springfield well short of revenue projections (and cutting jobs), President Michael Mathis was sent out to do PR damage control. “I feel good about the trajectory,” he claimed. He blamed Foxwoods Resort Casino and Mohegan Sun for the shortfall: We … Continue reading →

Posted in Architecture, Arkansas, Cordish Co., Delaware, Dining, Economy, Election, Foxwoods, Iowa, Massachusetts, MGM Resorts International, Mohegan Sun, New Mexico, Pennsylvania, Regulation, Rhode Island, Rush Street Gaming, Sports, Sports betting, Taxes, Tribal, Wynn Resorts | 1 Comment

Quote of the Day

Posted on August 20, 2019 by David McKee

“Without being disparaging, Americans by nature are lazy when it comes to emergency-management decisions. Why would I sacrifice my clams casino if it’s a false alarm? If a fire alarm goes off in Europe, in Africa, in Ireland or Israel, … Continue reading →

Posted in Security | Comments Off on Quote of the Day

Gaming and its discontents

Posted on August 19, 2019 by David McKee

Iowa, Nebraska and Council Bluffs continue to have their collective ass kicked in court by the Ponca Tribe of Nebraska. The latest drubbing occurred in federal district court. The plaintiffs filed motions arguing that, since Judge Stephanie Rose had asked … Continue reading →

Posted in Cambodia, Connecticut, Cordish Co., Foxwoods, Genting, Iowa, Las Vegas Sands, Macau, MGM Resorts International, Mohegan Sun, Money laundering, Nebraska, New York, Penn National, Pennsylvania, Politics, Sheldon Adelson, Sports, Sports betting, Tourism, Transportation, Tribal, Wall Street | 2 Comments

Chicago: Lightfoot’s folly; Penn mulls Trop expansion

Posted on August 19, 2019 by David McKee

Between 72% taxes and 30% operating costs, a Chicago casino is a money-losing proposition, at best one eking out a 3% profit. Union Gaming Group minced few words, reporting, “The [$15 million] reconciliation fee alone would wipe out any profits generated … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Eldorado Resorts, GLPI, Illinois, Louisiana, Oklahoma, Penn National, Politics, Slot routes, Sports, Sports betting, Taxes, Texas, The Strip, Tilman Fertitta, Tribal, Wall Street, West Virginia | 4 Comments

Encore vanquishing competition; Newcomers dominate Atlantic City

Posted on August 19, 2019 by David McKee

Encore Boston Harbor, the best-smelling casino on the East Coast, had a crushing month, its first full one of operation. Its $48.5 million in revenue accounted for 60% of all Massachusetts gaming revenues. That breaks down as almost $1.6 million/day … Continue reading →

Posted in Atlantic City, Boyd Gaming, Caesars Entertainment, Churchill Downs, Connecticut, Detroit, Eldorado Resorts, Entertainment, Foxwoods, Greenwood Racing, Hard Rock International, Internet gambling, Marketing, Maryland, Massachusetts, MGM Resorts International, Mohegan Sun, Ocean Resort, Penn National, Pennsylvania, Rhode Island, Rush Street Gaming, Sports, Sports betting, Tilman Fertitta, Tribal, Wynn Resorts | 2 Comments

Quote of the Day

Posted on August 19, 2019 by David McKee

“A cult is a religion with no political power.”—Tom Wolfe

Posted in Politics | Comments Off on Quote of the Day

Like a Virgin; Chicago casino kaput?

Posted on August 18, 2019 by David McKee

The soon-to-be-ex Hard Rock Hotel is taking an enormous gamble. Instead of trying to operate during the rebranding-and-renovation phase from which it will emerge as Virgin Las Vegas, it is going to close down completely. You read that right. The … Continue reading →

Posted in Donald Trump, Economy, Genting, Hard Rock Hotel, Illinois, Macau, MGM Resorts International, Nevada, Taxes, Technology, The Strip, Transportation, Wall Street, Wynn Resorts | Comments Off on Like a Virgin; Chicago casino kaput?

Quote of the Day

Posted on August 18, 2019 by David McKee

“The U.S., in short, has better reasons to covet Greenland than [Donald] Trump’s vanity or all the golf courses he could build there as the ice melts.”—Bloomberg columnist Leonid Bershidsky on why (in historical context) buying Greenland isn’t as wacky an … Continue reading →

Posted in Donald Trump, International | Comments Off on Quote of the Day

Quote of the Day

Posted on August 14, 2019 by David McKee

“If the free-wheeling, free-market system of the 20th century really has hardened into an oligarchy in the 21st, it could foreshadow collapsing trust in institutions—some of which we’ve already seen—and political instability. Without the promise that bold risk-taking and/or hard … Continue reading →

Posted in Current, Economy | Comments Off on Quote of the Day

Canaries in the coal mine, casinos in the slums

Posted on August 14, 2019 by David McKee

Stocks nose-dived yesterday after “an odd bond market phenomenon that has been a reliable indicator of economic recessions. Investors, worried about the state of the economy, rushed to long-term safe haven assets, pushing the yield on the benchmark 30-year Treasury bond … Continue reading →

Posted in Donald Trump, Economy, Greenwood Racing, Illinois, International, Iowa, Law enforcement, Macau, Massachusetts, Penn National, Pennsylvania, Politics, Regulation, Sports betting, Taxes, Wall Street, Wynn Resorts | 3 Comments

Rowdy night in Boston; Stitt’s standoff

Posted on August 13, 2019 by David McKee

All hell broke loose at Encore Boston Harbor in the wee hours of Monday morning. The first brawl broke out as nightclub patrons were leaving Mémoire. It was so bad that police had to call in backup. According to the … Continue reading →

Posted in Donald Trump, Election, International, Internet gambling, Massachusetts, New Jersey, Oklahoma, Philippines, Politics, Problem gambling, Regulation, Sports, Sports betting, Taxes, Tribal, Wall Street, William Hill, Wynn Resorts | 2 Comments

Gambling’s Wild Wild East; Wynn minimizes Hong Kong unrest

Posted on August 13, 2019 by David McKee

China is calling for the Philippines to crack down on its gambling industry, which Beijing considers a lawless enterprise, rife with human trafficking and worse. “It said citizens’ rights were being violated and dozens were kidnapped, tortured and physically abused … Continue reading →

Posted in Australia, Crown Resorts, Florida, International, Law enforcement, Macau, Massachusetts, Melco Resorts & Entertainment, Philippines, Politics, Problem gambling, Regulation, Stanley Ho, Tribal, Wynn Resorts | Comments Off on Gambling’s Wild Wild East; Wynn minimizes Hong Kong unrest

El Paso, Dayton … Las Vegas?

Posted on August 12, 2019 by David McKee

Las Vegas, if you’ll pardon the pun, dodged a bullet when the FBI apprehended a man bent on killing large numbers of Jews and gay people. Conor Climo, the alleged bomber, has been linked to the white-supremacist netherworld and supposedly … Continue reading →

Posted in Churchill Downs, Connecticut, Current, Downtown, Foxwoods, Full House Resorts, Indiana, Kentucky, Las Vegas Sands, Macau, Massachusetts, MGM Resorts International, Mohegan Sun, New Mexico, Pennsylvania, Racinos, Sports, Sports betting, Wall Street | Comments Off on El Paso, Dayton … Las Vegas?

Rough month in Indiana, rougher in Missouri

Posted on August 12, 2019 by David McKee

Indiana gaming revenues nosed down 3% last month, for a total gross of $181 million. JP Morgan analyst Joseph Greff blames it on adverse weather from Hurricane Barry, plus intensified competition in the Louisville area. Both racinos were revenue-positive, with Hoosier … Continue reading →

Posted in Architecture, Boyd Gaming, Caesars Entertainment, Centaur Gaming, Eldorado Resorts, Entertainment, Environment, Full House Resorts, Genting, Indiana, Kentucky, Massachusetts, MGM Resorts International, Missouri, Penn National, Spectacle Entertainment, The Strip, Tribal, Wynn Resorts | Comments Off on Rough month in Indiana, rougher in Missouri

Rock the casbah; The risks of Japan

Posted on August 9, 2019 by David McKee

Although Israel continues to outlaw casinos, undoubtedly to Sheldon Adelson‘s deep regret, the Middle East is pustulent with gaming houses. Yes, the Koran forbids it but that’s hardly stopping anyone. Egypt stands out with roughly 15 casinos, supposedly off-limits to … Continue reading →

Posted in Animals, Atlantic City, Caesars Entertainment, Genting, GLPI, Illinois, Indiana, International, Japan, Las Vegas Sands, Macau, Melco Resorts & Entertainment, Movies, Ohio, Pennsylvania, Scientific Games, Sheldon Adelson, Singapore, Sports betting, Taxes, The Strip, Tourism, Wall Street | 2 Comments

Quote of the Day

Posted on August 9, 2019 by David McKee

“Very often, the problem gambling issue becomes more about politics than people, way too often.”—anonymous casino industry consultant, on the difficulties of treating problem gambling.

Posted in Politics, Problem gambling, Tribal | Comments Off on Quote of the Day

Arkansas casino a ladder out of poverty; Rodio confesses resort-fee addiction

Posted on August 8, 2019 by David McKee

Arkansas‘ evolution into a casino state is coming with surprisingly few growing pains. Which is not to say there isn’t a burden of expectations on the new properties. $350 million Saracen Casino Resort will be expected to alleviate the woes … Continue reading →

Posted in Animals, Arkansas, Caesars Entertainment, Economy, Florida, Illinois, Mandalay Bay Massacre, Resort fees, The Strip, Tribal, Wisconsin | Comments Off on Arkansas casino a ladder out of poverty; Rodio confesses resort-fee addiction

Paging Steve Wynn; Genting mismanages risk

Posted on August 8, 2019 by David McKee

Somebody alert Steve Wynn. The mega-Walgreens at the northwest corner of Las Vegas Boulevard and Sahara Avenue is on the market as a “Once in a Generation High Profile Asset.” OK, the footprint is relatively small but the seller is … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Dan Gilbert, Eldorado Resorts, Genting, GLPI, Illinois, MGM Resorts International, Ohio, Oklahoma, Penn National, Resort fees, Rush Street Gaming, Singapore, Steve Wynn, Taxes, The Strip, Wall Street | 1 Comment