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Category Archives: Ameristar
Strange happenings at Penn Nat'l, Harrah's
While everybody's been focusing on the implosion of Station Casinos, the analysts at J.P. Morgan snuck out one of the more unusual (and entertaining) reports I've ever come across. They pored over Penn's 2Q09 filing and had some tales to … Continue reading
Posted in Ameristar, Boyd Gaming, Current, Economy, Harrah's, Illinois, Indiana, Kansas, Louisiana, Marketing, MGM Mirage, Ohio, Penn National, Station Casinos, Wall Street
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'Show Me' no stinkin' IDs
"We don't want them in there," huffs Ameristar Casinos' Troy Stremming (left) with regard to pathological gamblers. Stremming's high dudgeon rings a mite hollow now that the Missouri ballot initiative he crafted and shepherded to victory last fall is providing … Continue reading
Posted in Ameristar, Missouri, Penn National, Problem gambling, Regulation, Taxes
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'Show Me' no stinkin' IDs
"We don't want them in there," huffs Ameristar Casinos' Troy Stremming (left) with regard to pathological gamblers. Stremming's high dudgeon rings a mite hollow now that the Missouri ballot initiative he crafted and shepherded to victory last fall is providing … Continue reading
Posted in Ameristar, Missouri, Penn National, Problem gambling, Regulation, Taxes
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More Midwest notes
Continuing a trend of lower-than-projected returns across the Midwest, Iowa's riverboats were flat last month and racinos saw a 5% decline. All major operators lost ground but something is very wrong at Ameristar Casinos, whose Council Bluffs boat was way … Continue reading
Posted in Ameristar, Bally Technologies, Detroit, Economy, IGT, Illinois, Iowa, MGM Mirage, WMS Industries
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Rough trade
May wasn't great for Las Vegas, to say the least, with hotel occupancy -6%, a figure somewhat amplified by the presence of 3% more hotel rooms. The local ADR of $96.96 would have been regarded as real money back in … Continue reading
Posted in Ameristar, Boulder Strip, Boyd Gaming, Downtown, Economy, Harrah's, Illinois, Indiana, MGM Mirage, Missouri, Neil Bluhm, Penn National, Regulation, Slot routes, The Strip
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Making out like bandits
In Business Las Vegas has crunched the numbers in its annual survey of Sin City's most highly paid executives. Not surprisingly, the list prominently features two companies — Harrah's Entertainment and Station Casinos — whose overpaid leadership has steered them … Continue reading
Posted in Ameristar, Economy, Harrah's, MGM Mirage, Sheldon Adelson, Station Casinos
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Case Bets: Packer & Ho, Sands Bethlehem, MGM Mirage, Ameristar, Penn, Harrah's, etc.
• Smashing guitars — but not over each other’s noggins — James Packer and Lawrence Ho christened City of Dreams. The younger Ho downplayed expectations of foot traffic, saying his $2.4 billion megaresort could get by on far fewer visitors … Continue reading
Posted in Ameristar, Cordish Co., Current, Detroit, Economy, Election, Harrah's, Horseracing, Iowa, James Packer, Lawrence Ho, Macau, Maryland, Melco Crown Entertainment, MGM Mirage, Penn National, Pennsylvania, Regulation, Sheldon Adelson, Wall Street
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"Another one bites the dust"
That’s how a reader informed me of Las Vegas-based Golden Gaming‘s decision to bail on Wyandotte County in Kansas. Considering that you’ve got Harrah’s Entertainment, Ameristar Casinos, etc. firmly entrenched across the state line in Kansas City, Mo., and Isle … Continue reading
Posted in Ameristar, Boyd Gaming, Cordish Co., Current, Economy, Golden Gaming, Harrah's, Isle of Capri, Kansas, Penn National, Regulation, Station Casinos, Wall Street
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Pinnacle: the untold story
Is waxing and buffing the Pinnacle Entertainment limo a prerequisite for scoring an interview with its CEO? This small masterpiece of selective omission is more interesting for what it elides than what it says. The article parrots Dan Lee as … Continue reading
Posted in Alex Yemenidjian, Ameristar, Atlantic City, Carl Icahn, Columbia Sussex, Entertainment, Harrah's, Illinois, Louisiana, MGM Mirage, Missouri, Pinnacle Entertainment, The Strip, Tropicana Entertainment
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Missouri: Dough and "D'oh!"
Silly me. I had the Missouri numbers sitting in my "Inbox" all day yesterday and simply overlooked them amidst a typically frenetic day. A big "thank you" though to reader Bob Bradley, who provided the short and long versions (click … Continue reading
Posted in Ameristar, Harrah's, Isle of Capri, Missouri, Penn National, Pinnacle Entertainment, Wall Street
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Colorado casinos: Four votes, four wins
After a statewide vote approved 'round-the-clock operation at Colorado's non-tribal casinos (along with a 20X increase in betting limits and a wider repertory of games), the measure wasn't home and dry. It had to be voted through in Cripple Creek, … Continue reading
Posted in Ameristar, Colorado, Election, Isle of Capri, Penn National, Regulation, Riviera
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Buyback at Isle
As reader Bill Jones pointed out, Isle of Capri is making a first-come, first-served offer to retire 28% of senior debt at 55 cents on the dollar. (Official version here.) Wall Street wasn't impressed, with Isle stock -16% as of … Continue reading
Posted in Ameristar, Isle of Capri, Riviera
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A house divided
Give credit where it’s due to the Las Vegas Review-Journal for today’s interesting revelation that Columbia Sussex had been running the Las Vegas Tropicana with rival GMs overseeing the casino and hotel operations, respectively. This appears to confirm rumors I’d … Continue reading
Posted in Ameristar, Columbia Sussex, Cosmopolitan, Indiana, Regulation, The Strip, Tropicana Entertainment
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Collapse in Kansas; Herbst is toast
And then there was one. A Cordish Co./Kansas Speedway joint venture has pulled the chicken switch on a $400 million casino project. This leaves avionics firm Butler National Service Corp., with its Dodge City concession, as the only company with … Continue reading
Posted in Ameristar, Economy, G2E, Harrah's, Herbst Gaming, Horseracing, International, Kansas, Macau, MGM Mirage, Penn National, Pinnacle Entertainment, Regulation
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Case Bets: Ho Tram, Shuffle(d) Master, Ameristar
Tout le monde may be at G2E (albeit 10% less le monde than last year, I’m told) but the big news is happening elsewhere. MGM Mirage has emerged as the “angel” for the Ho Tram Strip in Vietnam. It’s a … Continue reading
Posted in Ameristar, Current, Economy, Harrah's, International, Isle of Capri, MGM Mirage, Missouri, Pinnacle Entertainment, Shuffle Master
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Shut up yourself
New York-New York‘s obnoxious new ad campaign, “comes right out of an honest voice,” says ad exec David Angelo. “Stop your whining and have a great time.” It’s “an honest voice,” all right: That of Phil Gramm, who famously called … Continue reading
Posted in Ameristar, Marketing, MGM Mirage, Sheldon Adelson
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Casino Vote '08: Dan Lee's the big winner
JP Morgan has proclaimed Pinnacle Entertainment “the biggest winner this election day.” By voting to both lift the cap on buy-ins and the close Missouri to additional casinos, Show-Me State voters delivered a gift to Pinnacle CEO Dan Lee, who … Continue reading
Posted in Ameristar, Colorado, Current, Election, Gary Goett, Horseracing, Indiana, Maryland, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Regulation, Taxes
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Winners & Losers
And now the obligatory post-Election, What’s-it-all-about-Alfie roundup … Culinary Union 1, Casino CEOs O: True, the Culinary tripped all over its own feet in the early going, leading to Democratic caucuses that weren’t so much “Barackular” as “debacular.” But D. … Continue reading
Posted in Alaska, Ameristar, Atlantic City, California, Colorado, Current, Donald Trump, Economy, Election, Florida, Gary Goett, Harrah's, IGT, Internet gambling, MGM Mirage, Mississippi, Missouri, Pinnacle Entertainment, Politics, Sheldon Adelson, Steve Wynn, Taxes, The Strip, Tribal, Wall Street
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