Category Archives: Atlantic City

Wynn disses douchebags; Showboat sails again

Posted on June 7, 2016 by David McKee

In a characteristic about-face, former nightlife enthusiast Steve Wynn is belittling Millenials (“sort of short on brains”), social media (“dim-witted time”), while conceding the importance of non-gaming revenue to today’s Las Vegas. Said Wynn of the nightlife generation, “we’re doing well … Continue reading →

Posted in Atlantic City, Cordish Co., Cretins, Economy, Entertainment, Golden Gaming, Harrah's, history, Macau, Maryland, Penn National, Steve Wynn, The Strip | Comments Off on Wynn disses douchebags; Showboat sails again

Quote of the Day

Posted on June 7, 2016 by David McKee

“I feel like I’m working just to pay for health insurance. It’s really hard to pay the bills. I work really hard, and these things used to be covered. We’ve had to make sacrifices. Vacations? Forget it.” — Trump Taj Mahal food-service … Continue reading →

Posted in Atlantic City, Economy, Tropicana Entertainment, Trump Entertainment Resorts | Comments Off on Quote of the Day

High-stakes legal challenge in Florida; Free-for-all in New York

Posted on June 7, 2016 by David McKee

A relatively obscure dispute in the Florida panhandle could have huge ramifications for the state’s casino industry. Four years ago, voters in Gadsden County approved slot machines for Gretna Racing, a joint venture of two Tallahassee lobbyists and the Poarch Bank … Continue reading →

Posted in Architecture, Atlantic City, Delaware, Economy, Election, Florida, Genting, Harrah's, Horseracing, Internet gambling, MGM Mirage, Nevada, New York, Politics, Racinos, Regulation, Seminole Tribe, Sheldon Adelson, The Strip | Comments Off on High-stakes legal challenge in Florida; Free-for-all in New York

Atlantic City back on death watch?; Money problems at Moulin Rouge

Posted on June 3, 2016 by David McKee

Things are suddenly looking grim for Atlantic City: A new Monmouth University poll shows voters evenly divided on a referendum to end the Boardwalk’s monopoly on casino gambling, an erosion of public support for the resort city. Assessing the situation … Continue reading →

Posted in Atlantic City, Downtown, Economy, Election, Environment, Harrah's, Internet gambling, Macau, Massachusetts, MGM Mirage, Mohegan Sun, Penn National, Problem gambling, Regulation, Riviera, Steve Wynn, Tilman Fertitta, Trump Entertainment Resorts | Comments Off on Atlantic City back on death watch?; Money problems at Moulin Rouge

Raiders to Vegas? Don’t bet against it

Posted on June 2, 2016 by David McKee

The boulder that is Mark Davis‘ and Sheldon Adelson‘s attempt to move the [your city here] Raiders to Las Vegas is gaining momentum as it rumbles downhill. The growing support among NFL owners is not unconditional. Sin City would be one … Continue reading →

Posted in Architecture, Atlantic City, Carl Icahn, history, LVCVA, Macau, Massachusetts, MGM Mirage, Oklahoma, Sheldon Adelson, Sports, The Strip, Tourism, Tropicana Entertainment, Trump Entertainment Resorts, Unite-Here, Wall Street | Comments Off on Raiders to Vegas? Don’t bet against it

Quote of the Day

Posted on May 31, 2016 by David McKee

“In its simplest form, MGM bought $102 mm of EBITDA for ~$900 mm and sold $100 mm of EBITDA for $1.175 [billion]. Thus, simplistically, MGM’s share of Borgata EBITDA remains effectively the same, MGM takes over day to day management … Continue reading →

Posted in Atlantic City, Boyd Gaming, MGM Mirage, Wall Street | Comments Off on Quote of the Day

This just in: Borgata sold; Christie gives some, gets much

Posted on May 31, 2016 by David McKee

In a development that has to be called nothing less than shocking, Boyd Gaming has sold its cash cow, its 50% stake in Borgata. For $900 million, it cashes out to MGM Resorts International and MGM Growth Properties. It’s a … Continue reading →

Posted in Atlantic City, Boyd Gaming, Harrah's, Marketing, MGM Mirage, North Las Vegas, Politics | Comments Off on This just in: Borgata sold; Christie gives some, gets much

Straub: Name my casino!; RAWA breathes its last … for now

Posted on May 27, 2016 by David McKee

Glenn Straub has either thrown up his hands over the task of renaming Revel or is feeling the spirit of democracy. Either way, he’s taking suggestions from the Twitterverse as to potential new monikers, with a $10,000 for the winning … Continue reading →

Posted in Atlantic City, Charity, Downtown, Election, Entertainment, Glenn Straub, history, Internet gambling, Iowa, MGM Mirage, Mohegan Sun, Neil Bluhm, New York, Oklahoma, Pennsylvania, Phil Ruffin, Politics, Revel, Sports, Tamares Group, Taxes, The Strip, Transportation, Tribal | 1 Comment

Lean April in Las Vegas; Boyd stands pat

Posted on May 27, 2016 by David McKee

April saw mixed fortunes the Las Vegas Strip. Although overall gambling revenue was only up 1.5%, winning percentages tended to favor the house by considerable amounts. For instance, although baccarat players wagered 21% more but house win was up 10%. “While … Continue reading →

Posted in Atlantic City, Boyd Gaming, California, Downtown, Economy, Election, Lake Tahoe, Laughlin, Law enforcement, North Las Vegas, Reno, Sports, The Strip, Wall Street | Comments Off on Lean April in Las Vegas; Boyd stands pat

PokerStars camel meets eye of needle; Penn loses last-gasp appeal

Posted on May 25, 2016 by David McKee

California state Rep. Adam Gray‘s online-gaming bill comes under some close scrutiny from analysts Steven Eichorn and Jeff Ifrah. As expected, there is no “bad actor” clause that would explicitly keep Unlawful Internet Gambling Enforcement Act scofflaws like PokerStars out … Continue reading →

Posted in Atlantic City, Boyd Gaming, California, Genting, Internet gambling, Iowa, Law enforcement, MGM Mirage, New York, Penn National, PokerStars, Politics, Regulation, Singapore, Stanley Ho, Tribal | Comments Off on PokerStars camel meets eye of needle; Penn loses last-gasp appeal

New era at Trump Taj Mahal; Blasphemous gambling promo spanked

Posted on May 24, 2016 by David McKee

He’s been handed a small budget ($15 million) for the task at hand, but new Trump Taj Mahal boss Anthony Rodio has been charged with undoing the damage inflicted on the property during the Bob Griffin era. This includes “reactivating … Continue reading →

Posted in Affinity Gaming, Atlantic City, Boyd Gaming, Cannery Casino Resorts, CityCenter, Dining, history, Internet gambling, Macau, MGM Mirage, Penn National, Regulation, Sports, Stanley Ho, Station Casinos, Tamares Group, Technology, Tropicana Entertainment, Unite-Here | 1 Comment

Adelson bill makes unwelcome return; Downtown Vegas’ new face

Posted on May 16, 2016 by David McKee

His presidential aspirations having turned to dust, Sen. Lindsey Graham (R) is back to doing Sheldon Adelson‘s business, resurrecting RAWA. He has appended to an unrelated spending bill the following language: “Internet Gambling—Since 1961, the Wire Act has prohibited nearly all … Continue reading →

Posted in Atlantic City, California, Dining, Downtown, Entertainment, Internet gambling, Law enforcement, Massachusetts, MGM Mirage, PokerStars, Regulation, Sheldon Adelson, The Strip | Comments Off on Adelson bill makes unwelcome return; Downtown Vegas’ new face

Poker Stars changes Atlantic City landscape; MGM budges (slightly) on parking fees

Posted on May 12, 2016 by David McKee

An extra month helped Atlantic City post a banner April, up 6%. Citywide, 5% higher slot handle produced a corresponding increase in revenue, while 4.5% table-game wagering translated into 10% more winnings for the house. Borgata ($56 million) was up … Continue reading →

Posted in Ameristar, Atlantic City, Boyd Gaming, CityCenter, Golden Gaming, Harrah's, International, Internet gambling, Iowa, Isle of Capri, MGM Mirage, Mohegan Sun, Pinnacle Entertainment, PokerStars, Racinos, Sports, The Strip, Tropicana Entertainment, Warner Gaming | Comments Off on Poker Stars changes Atlantic City landscape; MGM budges (slightly) on parking fees

Wynn thinks even bigger; Showdown looming in Atlantic City

Posted on May 9, 2016 by David McKee

Perhaps to provide a diversion from a flat first quarter, Steve Wynn has been tinkering with the plans for Wynn Paradise Park, making them more grandiose. That modest little island in the middle of the lagoon has swelled into an … Continue reading →

Posted in Architecture, Atlantic City, Carl Icahn, Economy, Genting, James Packer, SLS Las Vegas, Steve Wynn, Technology, The Strip, Tropicana Entertainment, Unite-Here | 1 Comment

Fertittas strike it rich(er); Boyd surprises analysts

Posted on April 27, 2016 by David McKee

Red Rock Resorts — aka Station Casinos — split the difference in Wall Street‘s expectations of this week’s IPO, debuting a $19.50 (Street estimates ranged from $18 to $21 a share). Unfortunately, unlike the MGM Growth Partners offering, the goal … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, Cannery Casino Resorts, Hawaii, history, MGM Mirage, Mississippi, North Las Vegas, Reno, Sheldon Adelson, Sports, Station Casinos, The Strip, Tourism, Wall Street | Comments Off on Fertittas strike it rich(er); Boyd surprises analysts

It’s official: Boyd buys Cannery; Massachusetts’ agonizing dilemma

Posted on April 26, 2016 by David McKee

Confirming the worst-kept secret in Las Vegas, suddenly acquisitive Boyd Gaming announced that it was buying out Cannery Casino Resorts. The price ($230 million) was toward the lower end of Wall Street had predicted for the deal and means the … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, Cannery Casino Resorts, Downtown, Economy, Massachusetts, Neil Bluhm, North Las Vegas, Penn National, Regulation, Taxes, The Strip, Tourism, Tribal, Wall Street | Comments Off on It’s official: Boyd buys Cannery; Massachusetts’ agonizing dilemma

Straub’s better mousetrap; Sparks Nugget in the clear

Posted on April 22, 2016 by David McKee

By now it is something of an understatement to say that Revel owner Glenn Straub thinks outside the box. Or, as the Philadelphia Inquirer put it, his “plans for the massive property have veered erratically from mud slides to academic … Continue reading →

Posted in Atlantic City, Dining, Economy, Entertainment, Environment, Geoff Freeman, Glenn Straub, International, Law enforcement, Macau, Marnell Gaming, Pinnacle Entertainment, Regulation, Reno, Revel, Sheldon Adelson, Sports, Taxes | Comments Off on Straub’s better mousetrap; Sparks Nugget in the clear

Boyd to acquire Cannery?; Signs of movement in Atlantic City impasse

Posted on April 21, 2016 by David McKee

Sleeping giant Boyd Gaming is stirring to life, reportedly on the verge of a $225 million-$240 million buyout of Cannery Casino Resorts, according to Reuters. The latter’s Mike Stone says the deal would “give Boyd a strong foothold in the … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, California, Cannery Casino Resorts, Election, Entertainment, GLPI, Harrah's, James Packer, Pennsylvania, Politics, Reno, The Strip, Wall Street | 1 Comment

Adelson, master manipulator?; MGM REIT launched

Posted on April 20, 2016 by David McKee

Is Sheldon Adelson the secret string-puller behind Kelden Engel‘s petition drive to have part of the Riviera preserved? John L. Smith hints at that in this morning’s edition of Adelson’s Las Vegas Review-Journal. “If he’s carrying the water for someone who … Continue reading →

Posted in Atlantic City, Boyd Gaming, Entertainment, Illinois, LVCVA, MGM Mirage, Riviera, Sheldon Adelson, Steve Wynn, The Strip, Wall Street | Comments Off on Adelson, master manipulator?; MGM REIT launched

Reversal in Jersey City; Tables buoy Pennsylvania grosses

Posted on April 19, 2016 by David McKee

Shoe mogul Paul Fireman‘s plan to build a $4.6 billion megaresort in Jersey City is losing the support of Mayor Steve Fulop (D). New Jersey State Building & Construction Trades Council President William T. Mullen was sent into a howl of … Continue reading →

Posted in Atlantic City, California, GLPI, Greenwood Racing, Harrah's, Isle of Capri, Mohegan Sun, Neil Bluhm, Penn National, Pennsylvania, Politics, Racinos, Sheldon Adelson, Taxes | Comments Off on Reversal in Jersey City; Tables buoy Pennsylvania grosses