Category Archives: Atlantic City

Busy week for MGM; Adelson’s grim prognosis

Posted on March 12, 2019 by David McKee

Congratulations to MGM Resorts International on becoming the official casino sponsor of the Boston Red Sox (known around my house as “the Evil Empire”). I’m not sure how I feel about the MGM logo going up on the Green Monster, … Continue reading →

Posted in Atlantic City, Baseball, Eldorado Resorts, history, Horseracing, Internet gambling, Japan, Las Vegas Sands, Laughlin, Massachusetts, MGM Resorts International, Michigan, Mississippi, Politics, Problem gambling, Real Estate, Regulation, Security, Sheldon Adelson, Sports, Sports betting, Steve Wynn, Taxes, Technology, Tribal, Tropicana Entertainment, William Hill | 1 Comment

Stevens’ acumen questioned; Deejay era on downturn

Posted on March 7, 2019 by David McKee

A report has surfaced questioning the financial viability of $800 million Circa (written back when it was still 18 Fremont). In what seems like a preliminary shot fired across Derek Stevens‘ bow by Unite-Here, it asserts ” the project is … Continue reading →

Posted in Atlantic City, Boyd Gaming, Culinary Union, Derek Stevens, Downtown, Economy, Entertainment, Environment, Hard Rock International, MGM Mirage, Ocean Resort, The Strip, Unite-Here, Wall Street | 3 Comments

SJM Fok-ed up; Virginia approves casinos

Posted on February 28, 2019 by David McKee

Lucina Laam may be the most important person in Macao‘s turbulent casino history. As Wife #2 of Stanley Ho she bore Daisy Ho, Pansy Ho, Lawrence Ho and two other daughters not involved in the gaming biz. Now, in an … Continue reading →

Posted in Atlantic City, Caesars Entertainment, DFS, Donald Trump, Downtown Grand, Environment, history, International, Las Vegas Sands, Lawrence Ho, Macau, Marketing, Maryland, Massachusetts, Melco Resorts & Entertainment, MGM Resorts International, New York, Pansy Ho, Pennsylvania, Politics, Singapore, Sociedade de Jogos de Macau, Stanley Ho, Technology, Tribal, Virginia | Comments Off on SJM Fok-ed up; Virginia approves casinos

MGM, Eldorado, Churchill Downs looking up

Posted on February 28, 2019 by David McKee

Credit Suisse‘s Cameron McKnight flew out to San Francisco to meet with MGM Resorts International CEO Jim Murren. The biggest headline item would be the eccentricity of Murren choosing to meet in Frisco rather than at MGM HQ in Las … Continue reading →

Posted in Architecture, Atlantic City, Caesars Entertainment, Churchill Downs, DFS, Eldorado Resorts, history, Horseracing, Illinois, Internet gambling, Louisiana, Marketing, Maryland, Massachusetts, MGM Resorts International, MTR Gaming, Neil Bluhm, Ocean Resort, Resort fees, Rush Street Gaming, The Strip, Wall Street | 1 Comment

Sands: Buy Japanese; Gambling to come to Utah?

Posted on February 25, 2019 by David McKee

“It will be highly competitive, but I think the cards are stacked in the favor of those who are prepared, who have been working hard, who will have the best program, best strategy, the best understanding of the country, of … Continue reading →

Posted in Atlantic City, DFS, Horseracing, Internet gambling, Japan, Kentucky, Las Vegas Sands, MGM Resorts International, Ocean Resort, PokerStars, Politics, Sheldon Adelson, Sports, Sports betting | Comments Off on Sands: Buy Japanese; Gambling to come to Utah?

Fearless Oscar recap

Posted on February 25, 2019 by David McKee

New Jersey bookmakers are doubtless shelling out some long green today after Olivia Colman upset their (and my) odds-on pick, Glenn Close at the Academy Awards last night. Despite having the law of averages seemingly in her favor, Close continues … Continue reading →

Posted in Atlantic City, Current, International, Movies, New Jersey, TV | Comments Off on Fearless Oscar recap

Strip moolah propels Caesars; Boyd impresses

Posted on February 22, 2019 by David McKee

Caesars Entertainment reported 4Q18 results yesterday, playing to generally rave notices from Wall Street. “Very good” and “Excellent” were the initial reactions of Credit Suisse analyst Cameron McKnight. He noted 8% revenue growth in Las Vegas on only 1.5% cost … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Centaur Gaming, Hawaii, Illinois, Iowa, Kansas, Mandalay Bay Massacre, MGM Resorts International, Ohio, Pennsylvania, Pinnacle Entertainment, Slot routes, Taxes, The Strip, Wall Street | Comments Off on Strip moolah propels Caesars; Boyd impresses

Chronicle of a disaster foretold

Posted on February 19, 2019 by David McKee

It’s time for Caesars Entertainment‘s quarterly earnings call and, by way of a preview, JP Morgan analyst Daniel Politzer took a relatively dim view of selling the company as a cure for whatever ails it. “While we understand activists’ rationale … Continue reading →

Posted in Atlantic City, Caesars Entertainment, Carl Icahn, Eldorado Resorts, Horseracing, International, Las Vegas Sands, MGM Resorts International, New Jersey, Politics, The Strip, Tilman Fertitta, Tropicana Entertainment, Wall Street, Wynn Resorts | 2 Comments

Atlantic City: Ocean Resort stages a rally

Posted on February 15, 2019 by David McKee

Atlantic City is weathering the winter months about as well as can realistically be hoped. Same-store revenues were down 8% last month but up 9% overall. Ocean Resort ($12.5 million) actually crept past Bally’s ($12 million) and up on Resorts … Continue reading →

Posted in Atlantic City, Boyd Gaming, Bruce Deifik, Caesars Entertainment, Churchill Downs, Dan Gilbert, Detroit, Eldorado Resorts, Genting, Greenwood Racing, Hard Rock International, Internet gambling, Las Vegas Sands, MGM Resorts International, Mohegan Sun, New Jersey, New York, Penn National, Pennsylvania, Racinos, Rush Street Gaming, Sports betting, Tilman Fertitta | Comments Off on Atlantic City: Ocean Resort stages a rally

Chicago or bust?; Ocean Resort in deep water

Posted on February 12, 2019 by David McKee

With Illinois gaming revenue stuck at 2006 levels, some sense is finally filtering into legislative discussion of a Chicago casino. Could that idea have passed its sell-by date? The inability of Rivers Casino, however successful, and slot routes to move … Continue reading →

Posted in AGA, Atlantic City, Bruce Deifik, Economy, Illinois, Racinos, Regulation, Rush Street Gaming, Slot routes, Sports, Sports betting, TV, West Virginia | 2 Comments

Quote of the Day

Posted on February 8, 2019 by David McKee

“Crooks like Trump will steal a hot stove and come back for the smoke. There’s no bar too low.” — the late Rep. John Dingell (D), longest-serving member of Congress, referring to Donald Trump‘s multiple casino bankruptcies.

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

Atlantic City’s glass half-full; New Kentucky casino pitched

Posted on February 7, 2019 by David McKee

First, the good news: Casino-related employment in Atlantic City rose by 5,749 jobs last year, driven by Hard Rock Atlantic City and Ocean Resort, which added 6,927 souls to the work force. The bad news? Hiring remains otherwise stagnant, with Hard Rock … Continue reading →

Posted in Atlantic City, Boyd Gaming, Bruce Deifik, Economy, Greenwood Racing, Hard Rock International, Internet gambling, Kentucky, Massachusetts, MGM Resorts International, Mohegan Sun, New Jersey, Pennsylvania, Racinos, South Dakota, Sports betting, Taxes, Tribal | 1 Comment

Pac-12 to Vegas?; Climate change rattles travel industry

Posted on January 30, 2019 by David McKee

Pac-12 football championship play could be coming to Las Vegas. I emphasize the “could” because there are several moving parts to this story, including the possibility that Las Vegas and Los Angeles are pawns in the conference’s attempts to shake … Continue reading →

Posted in Atlantic City, Bruce Deifik, California, Environment, International, Sports, Sports betting, The Strip, Tourism, Transportation | Comments Off on Pac-12 to Vegas?; Climate change rattles travel industry

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?

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

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

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

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

Philly Live shows signs of life; Sports betting no cure-all

Posted on January 7, 2019 by David McKee

Cordish Gaming‘s $700 million Philadelphia casino project (now with 100% less Watouche “Bob” Manoukian) has been postponed two years. However, in a sign of forward progress, Cordish has signed a general contractor and pledged “substantial completion” by 2020. It remains … Continue reading →

Posted in Architecture, Atlantic City, Boyd Gaming, Caesars Entertainment, Colorado, Cordish Co., Horseracing, Louisiana, Marijuana, MGM Resorts International, Nevada, New Jersey, New York, Ohio, Penn National, Pennsylvania, Sports betting, Taxes, Wall Street | 3 Comments