Author Archives: David McKee

About David McKee

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Sands disappoints Wall Street

Posted on January 24, 2019 by David McKee

Las Vegas Sands reported 4Q18 results yesterday and the result wasn’t what Wall Street had been hoping. Take the rapidly morphing reaction of Credit Suisse analyst Cameron McKnight. He went from “Good Read Thru” to “Disappointing 4Q Against Elevated Expectations” … Continue reading →

Posted in Economy, Las Vegas Sands, Macau, MGM Resorts International, Singapore, Sports, Sports betting, The Strip, Transportation, Wall Street | Comments Off on Sands disappoints Wall Street

Quote of the Day

Posted on January 24, 2019 by David McKee

“The importance of experience is that it is protection against the disruption or the obsolescence of the real estate. If it’s a great place-based experience, it is something that Amazon, at least yet, has not figured out how to put in … Continue reading →

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

Next stop: Virginia; Lady Gaga erupts

Posted on January 23, 2019 by David McKee

Lawmakers in Virginia have voted a “mashup casino bill” out of committee, sending it along to the Senate Finance Committee for further scrutiny. The legislation would authorize five casinos in Bristol, Danville, Portsmouth, Richmond and Norfolk respectively and juices the Pamunkey … Continue reading →

Posted in Entertainment, Las Vegas Sands, Maryland, MGM Resorts International, Politics, Taxes, The Strip, Tribal, Vietnam, Virginia | 1 Comment

Quote of the Day

Posted on January 23, 2019 by David McKee

“To be saints is not a privilege for the few but a vocation for everyone.” — Pope Francis

Posted in Charity | Comments Off on Quote of the Day

AFL goes to A.C.; Majestic Star coming ashore?

Posted on January 22, 2019 by David McKee

In keeping with the new and hard-won sense of prosperity in Atlantic City, the Casino Reinvestment Development Authority hopes to bring arena football to the Boardwalk, specifically to Jim Whelan Boardwalk Hall. The early talk is a of three-year public/private partnership … Continue reading →

Posted in Atlantic City, DFS, Economy, history, Indiana, Law enforcement, Macau, Majestic Star, Politics, Sports, Sports betting, Taxes | Comments Off on AFL goes to A.C.; Majestic Star coming ashore?

Louisiana: What happened?; Wynn wins historic victory

Posted on January 22, 2019 by David McKee

While most jurisdictions performed impressively last month, Louisiana was down 2.5%. How to account for the slippage? True, the drive-in driven Shreveport/Bossier City market was off 1.5%. But the real culprit was Baton Rouge, toppling 15.5% and ravaged by the new … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Dining, Eldorado Resorts, Environment, GLPI, Greenwood Racing, International, Las Vegas Sands, Louisiana, Macau, Penn National, Pennsylvania, Rush Street Gaming, Sports betting, Tilman Fertitta, Tourism, Vietnam, Wall Street, William Hill, Wynn Resorts | Comments Off on Louisiana: What happened?; Wynn wins historic victory

Massachusetts mulls sports betting

Posted on January 21, 2019 by David McKee

Massachusetts is expected to be one of the prime movers on the sports-betting front and, to that end, three bills have been filed in the Lege, no doubt much to the interest of homeboys DraftKings, the New England Patriots and … Continue reading →

Posted in Dining, IGT, Macau, Marketing, Massachusetts, Melco Resorts & Entertainment, Mississippi, Penn National, Politics, South Dakota, Sports, Sports betting | Comments Off on Massachusetts mulls sports betting

Adelson sparks firestorm

Posted on January 21, 2019 by David McKee

When Bill Miller was appointed CEO of the American Gaming Association, we speculated that his relationship with Sheldon Adelson would be “less strained” than that of predecessor Geoff Freeman. Indeed, that already seems to be the case. It would account … Continue reading →

Posted in AGA, Carl Icahn, Churchill Downs, Delaware, DFS, Eldorado Resorts, Florida, Geoff Freeman, Illinois, Internet gambling, Massachusetts, MGM Resorts International, Nevada, New Jersey, New York, Politics, Racinos, Regulation, Sheldon Adelson, Sports, Sports betting, Steve Wynn, Tropicana Entertainment, Wall Street, William Hill, Wynn Resorts | Comments Off on Adelson sparks firestorm

Oh, what a tangled web we weave …

Posted on January 21, 2019 by David McKee

… when we call our new casino Circa. An S&G source has done some research on the matter and found that “Circa” is trademarked to Michigan company NMH Acquisition. The Patent Office gave Circa “trademark serial number of 87960443.” NMH … Continue reading →

Posted in AGA, CityCenter, Dan Lee, Derek Stevens, Downtown, International, MGM Resorts International, Politics, Regulation, Sports betting | Comments Off on Oh, what a tangled web we weave …

Quote of the Day

Posted on January 21, 2019 by David McKee

“The ultimate tragedy is not the oppression and cruelty by the bad people but the silence over that by the good people.” — Dr. Martin Luther King Jr.

Posted in history | Comments Off on Quote of the Day

Wall Street says the “R” word; The wrath of Rufus Peabody

Posted on January 17, 2019 by David McKee

Credit Suisse analyst Cameron McKnight has uttered the word most dreaded around Las Vegas: recession. He’s even come up with some projections. “Based on our long-term Strip model, we can see a recession scenario for the Strip in which revenue … Continue reading →

Posted in Atlantic City, Caesars Entertainment, Economy, Indiana, Massachusetts, MGM Resorts International, Politics, Sports, Sports betting, The Strip, Tribal, Wall Street | Comments Off on Wall Street says the “R” word; The wrath of Rufus Peabody

Cuomo bets on sports; Resorts World LV disowns own designs

Posted on January 16, 2019 by David McKee

It looks as though New York State will split the baby on sports wagering: Casino-based betting in 2019, mobile wagering in 2022. Gov. Andrew Cuomo (D) has baked what Credit Suisse analyst Cameron McKnight calls “a small amount of sports … Continue reading →

Posted in Architecture, Baseball, DFS, Genting, New Jersey, New York, Problem gambling, Sports betting, The Strip, Wall Street, William Hill, Wynn Resorts | Comments Off on Cuomo bets on sports; Resorts World LV disowns own designs

Re-reversing the Wire Act: What it means

Posted on January 16, 2019 by David McKee

Last weekend’s flip-flop by the Justice Department‘s stance on the Federal Wire Act has spurred a fair amount of chin scratching in the gaming industry. Global Market Advisors notes the immediate implication: “The action, which at best can be described as … Continue reading →

Posted in Delaware, DFS, Illinois, Nevada, New Jersey, New York, Pennsylvania, Politics, Sheldon Adelson, Taxes, Wall Street | Comments Off on Re-reversing the Wire Act: What it means

Atlantic City: Managing expectations; Prosperity in Pennsylvania, Detroit

Posted on January 15, 2019 by David McKee

Grossing $209 million last month, the Atlantic City casino market continues to grow, up 12% in the dead of winter, even if it was 7% down on a same-store basis. That’s a tradeoff the industry will have to accept, as … Continue reading →

Posted in Atlantic City, Boyd Gaming, Bruce Deifik, Caesars Entertainment, Churchill Downs, CityCenter, Dan Gilbert, Detroit, Dining, Economy, Eldorado Resorts, Las Vegas Sands, Macau, MGM Resorts International, Mohegan Sun, Penn National, Pennsylvania, Rush Street Gaming, Tilman Fertitta, Wall Street | 1 Comment

Trump betrays Internet gambling

Posted on January 15, 2019 by David McKee

In a world so topsy-turvy that Ivanka Trump will be helping choose the next president of the World Bank, we shouldn’t assume that Internet gambling is safe. The Office of Legal Counsel has reversed Eric Holder‘s narrow interpretation of the … Continue reading →

Posted in DFS, Donald Trump, Internet gambling, Law enforcement, New Jersey, Sheldon Adelson, Sports betting | Comments Off on Trump betrays Internet gambling

Icahn power play at Caesars?; Big plans for Borgata

Posted on January 14, 2019 by David McKee

We all know that Carl Icahn has a sharp eye for undervalued assets. Caesars Entertainment stock fell 46% last year, making it ripe for the plucking. And pick it Icahn did, scarfing up enough to spur a 11.5% rally in … Continue reading →

Posted in Atlantic City, Caesars Entertainment, Carl Icahn, Dan Gilbert, Detroit, DFS, Internet gambling, MGM Resorts International, Regulation, Sports betting, Taxes, Technology, Tilman Fertitta, Trump Entertainment Resorts, Virginia, Wall Street, West Virginia | Comments Off on Icahn power play at Caesars?; Big plans for Borgata

Clouded future for Ocean; Wynn keeps fighting

Posted on January 14, 2019 by David McKee

While the mainstream media has gone quiet over the sudden change of ownership at Ocean Resort, Global Gaming Business is reporting that lead owner Bruce Deifik didn’t leave voluntarily but was kicked out by other investors. Luxor Capital Group supposedly … Continue reading →

Posted in Atlantic City, Bruce Deifik, Caesars Entertainment, Colorado, Law enforcement, Massachusetts, Nevada, Regulation, Revel, Sexual misconduct, Steve Wynn, Tribal, Wall Street, Wynn Resorts | 1 Comment

Quote of the Day

Posted on January 14, 2019 by David McKee

“There is a lot of unmet demand for fun in Las Vegas,” — Derek Stevens, announcing his new project, Circa Resort & Casino.

Posted in Derek Stevens, Downtown | Comments Off on Quote of the Day

Deifik defects from Atlantic City; Stevens unveils new casino

Posted on January 11, 2019 by David McKee

That was brief. After six months of operation at Ocean Resort, owner Bruce Deifik wants out. Word is he’s found a mystery buyer, one who will invest $70 million in “a new buffet, additional hotel suites, gaming floor improvements and … Continue reading →

Posted in Architecture, Atlantic City, Bruce Deifik, Colorado, Derek Stevens, Downtown, Eldorado Resorts, Environment, Marketing, Revel, Sports betting, Tilman Fertitta, Transportation | 2 Comments

Indiana, Missouri have good months; Hands-free vibrators conquer Las Vegas

Posted on January 10, 2019 by David McKee

Casinos in Indiana grossed $187 million last month, a 3% increase. Caesars Entertainment would appear to have robbed Peter (Horseshoe Southern Indiana) to pay Paul (its two racinos). Horseshoe was down 8% to $20 million, while Indiana Downs cantered past … Continue reading →

Posted in Ameristar, Boyd Gaming, Caesars Entertainment, Eldorado Resorts, Ellis Island, Full House Resorts, Indiana, Isle of Capri, Majestic Star, Missouri, Penn National, Technology, The Strip, Tribal | Comments Off on Indiana, Missouri have good months; Hands-free vibrators conquer Las Vegas