Category Archives: Atlantic City

Bad news for Atlantic City; Finally, a ‘Carcieri fix’

Posted on December 1, 2015 by David McKee

Just when you thought the Atlantic City market had rightsized and the Boardwalk was out of the woods, here comes Moody’s Investors Service with a baleful report. Pointing to in-progress casino expansion in several neighboring East Coast states, Moody’s predicts … Continue reading →

Posted in Atlantic City, Economy, Glenn Straub, Harrah's, Internet gambling, Regulation, Revel, Technology, Tourism, Tribal, Trump Entertainment Resorts, TV, Wall Street | Comments Off on Bad news for Atlantic City; Finally, a ‘Carcieri fix’

Resolution at Revel; MGM turns up the heat on Connecticut

Posted on November 27, 2015 by David McKee

Our long Revel nightmare is at least partially over, now that Glenn Straub has a deal in place to buy the disputed ACR Energy Partners power plant. While ACR pays $15 million to placate bondholders, Straub gets the plant for … Continue reading →

Posted in Atlantic City, Eldorado Resorts, Foxwoods, Glenn Straub, Massachusetts, MGM Mirage, Mohegan Sun, Ohio, Politics, Racinos, Regulation, Reno, Revel, Wall Street | 1 Comment

Atlantic City casinos make less, profit more

Posted on November 24, 2015 by David McKee

In a paradoxical development, Atlantic City casinos reported a 61% increase in profitability in Q315. That largesse came even as gross gaming revenues only rose 5%. Cost-containment is credited with being the source of the bounty. Caesars Interactive swung from … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Dan Gilbert, Economy, Election, Glenn Straub, Harrah's, Indiana, International, Internet gambling, Massachusetts, MGM Mirage, Mohegan Sun, Ohio, Politics, Revel, Sheldon Adelson, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts | Comments Off on Atlantic City casinos make less, profit more

DFS: A patchwork of approaches

Posted on November 18, 2015 by David McKee

Although he’s been dissed by New Jersey Gov. Chris Christie (R) and the NCAA (because his bill would allow daily fantasy sports to include college athletes), state Sen. James Whelan (D, right) presses on in his attempt to regulate DFS … Continue reading →

Posted in Atlantic City, Geoff Freeman, Harry Reid, Internet gambling, Marketing, Massachusetts, New York, Pennsylvania, Politics, Regulation, Sports | Comments Off on DFS: A patchwork of approaches

The wacky world of Glenn Straub; New York rescuer for DFS

Posted on November 17, 2015 by David McKee

Instead of hassling Stockton University over ownership of the Showboat (and losing), perhaps Glenn Straub should have been developing a long-range plan for heating Revel through the winter, so that the pipes don’t freeze and burst. His solution? Bring in … Continue reading →

Posted in Atlantic City, Entertainment, Glenn Straub, Internet gambling, New York, Ohio, Pennsylvania, Politics, Regulation, Revel, Transportation, Wall Street | 1 Comment

The benefits of casino gambling make themselves felt

Posted on November 16, 2015 by David McKee

Minimum wages are a contentious issue on the campaign trail but a settled one at $450 million Stadium Casino. The in-progress Philadelphia gambling hall has committed to a $12/hour minimum wage for its construction and permanent personnel alike. That’s one … Continue reading →

Posted in Atlantic City, Charity, Cordish Co., Economy, Greenwood Racing, Internet gambling, Pennsylvania, Rhode Island, Taxes, Technology, Trump Entertainment Resorts | Comments Off on The benefits of casino gambling make themselves felt

Autumn chill in Atlantic City; Christmas present for VictoryLand

Posted on November 13, 2015 by David McKee

For the first time in over a year, there are no casino closings to be factored into Atlantic City‘s gaming revenue, no more same-store comparisons. So how did the Boardwalk fare? Even with an extra weekend day, revenue dipped 3%. … Continue reading →

Posted in Alabama, Atlantic City, Boyd Gaming, Harrah's, MGM Mirage, Mohegan Sun, Regulation, Technology, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts | 1 Comment

Same old same-old at Trump; F-blew finally up for sale

Posted on November 12, 2015 by David McKee

Perhaps the biggest question surrounding Trump Taj Mahal is whether, when Carl Icahn takes over, the management team he has publicly upbraided will get to keep their jobs, especially since Uncle Carl has perfectly competent people taking care of business … Continue reading →

Posted in Atlantic City, Carl Icahn, Economy, Eldorado Resorts, Fontainebleau, Genting, Massachusetts, Penn National, The Strip, Trump Entertainment Resorts | 2 Comments

Phil Ruffin, International Man of Mystery; Another day, another DFS probe

Posted on November 12, 2015 by David McKee

So now we know where those The Mirage-is-for-sale rumors were coming from. Seems that the place really was not for sale, although Phil Ruffin wished it was, to the tune of $1.3 billion. And, as badly as MGM Resorts International … Continue reading →

Posted in Atlantic City, Donald Trump, GLPI, Internet gambling, Macau, MGM Mirage, Phil Ruffin, Politics, Regulation, Sports, Stanley Ho, The Strip, Wall Street | Comments Off on Phil Ruffin, International Man of Mystery; Another day, another DFS probe

Caesars exiting Ohio with head held high; New Showboat setback

Posted on November 9, 2015 by David McKee

Caesars Entertainment may have gotten the boot from its three managerial arrangements with Dan Gilbert in Ohio but it’s spending the waning weeks of its tenure putting up impressive numbers. Horseshoe Cleveland ($18 million) was up 4% and Horseshoe Cincinnati … Continue reading →

Posted in Atlantic City, Dan Gilbert, Detroit, Eldorado Resorts, Glenn Straub, Harrah's, Marketing, Penn National, Pinnacle Entertainment, Politics, Racinos, Taxes | Comments Off on Caesars exiting Ohio with head held high; New Showboat setback

As the Showboat turns

Posted on November 6, 2015 by David McKee

Will the Showboat have a new owner (Bart Blatstein) on Monday? Only its hairdresser knows for sure. Will Caesars Entertainment‘s removal of its gaming entitlement trump (pardon the pun) Trump Entertainment Resorts CEO (and civic villain) Bob Griffin‘s mandate that … Continue reading →

Posted in Atlantic City, Glenn Straub, Harrah's, Revel, Trump Entertainment Resorts | 1 Comment

Georgia on their minds; DFS regulation gathers speed

Posted on November 4, 2015 by David McKee

There’s a new suitor in the crowd of casino companies eager to extend their brands into Georgia: the Seminole Tribe. It wants to build a Hard Rock International casino in 2018, opposite Mercedes-Benz Stadium, where the Atlanta Falcons will play. Hard … Continue reading →

Posted in Atlantic City, Boyd Gaming, Georgia, Hard Rock International, Illinois, Internet gambling, Minnesota, New York, Problem gambling, Regulation, Seminole Tribe, Taxes | Comments Off on Georgia on their minds; DFS regulation gathers speed

Straub has new plan for Revel; Station cans Cactus Lane casino

Posted on November 4, 2015 by David McKee

Glenn Straub can’t even heat Revel but he’s got his sights on becoming Atlantic City‘s biggest slumlord. The ever-unpredictable billionaire’s latest plan for the megaresort is to use it to house Syrian refugees. However, this homeless-hostel offer is good for … Continue reading →

Posted in Atlantic City, Glenn Straub, Internet gambling, Michael Gaughan, Regulation, Reno, Revel, Sports, Station Casinos, Taxes, The Strip, Westgate LV | Comments Off on Straub has new plan for Revel; Station cans Cactus Lane casino

Regulating DFS; So long, Harrah’s Tunica

Posted on November 3, 2015 by David McKee

Although he doesn’t think state government ought to “impede one’s enjoyment of fantasy sports,” New Jersey state Sen. James Whelan (D, right) thinks it’s time for the Garden State to regulate daily fantasy sports. In a letter to the Division of … Continue reading →

Posted in Arkansas, Atlantic City, Dining, Harrah's, Internet gambling, Mississippi, Oklahoma, Politics, Regulation, Sports, Tribal | 1 Comment

Turmoil at Revel, Trump; DFS to try self-regulation

Posted on October 28, 2015 by David McKee

Atlantic City civic gadfly Glenn Straub is at it again. In addition to trying to wrest electrical power from Stockton University by way of the Showboat (Stockton is contesting the validity of the quid pro quo in court), he’s threatening to sue … Continue reading →

Posted in Atlantic City, Baseball, Carl Icahn, Glenn Straub, Harrah's, Internet gambling, James Packer, Macau, Melco Crown Entertainment, Regulation, Trump Entertainment Resorts, TV | Comments Off on Turmoil at Revel, Trump; DFS to try self-regulation

Caesars: (Almost) everything must go; More angst in Macao

Posted on October 27, 2015 by David McKee

Well, it had to happen eventually. In order to escape bankruptcy, Caesars Entertainment is putting Caesars Entertainment Operating Co. on the market. There are some who are calling this a bluff and others who can’t afford to get in on … Continue reading →

Posted in Atlantic City, Boyd Gaming, California, Economy, GLPI, Harrah's, Illinois, Indiana, International, Iowa, Lake Tahoe, Lawrence Ho, Louisiana, Marketing, Melco Crown Entertainment, MGM Mirage, Mississippi, Missouri, Ohio, Penn National, Philippines, Regulation, Reno, Sheldon Adelson, Stanley Ho, Steve Wynn, The Strip, Tribal, Wall Street | 1 Comment

Bad week for DFS

Posted on October 26, 2015 by David McKee

“What it’s doing is calling fantasy sports what it is. Do you pay money to get into the contest, and do you get money back when you win? And if so, that’s gambling.” So says South Point attorney Barry Leibermann of … Continue reading →

Posted in Atlantic City, California, Colorado, Delaware, Florida, Georgia, Illinois, Internet gambling, Kansas, Maryland, Massachusetts, Michael Gaughan, Mississippi, New York, Ohio, Politics, Technology | Comments Off on Bad week for DFS

Boyd: What’s not to like?; Poker cheat gets flushed

Posted on October 23, 2015 by David McKee

Try as it might, Boyd Gaming just doesn’t feel any warm fuzzies from Wall Street. J.P. Morgan analyst Joseph Greff called the most recent quarter “very impressive,” with 3% revenue growth and huge increases in cash flow. Still, Greff wrote, … Continue reading →

Posted in Atlantic City, Boyd Gaming, Environment, Harrah's, Hawaii, Internet gambling, Iowa, Louisiana, Penn National, Wall Street | Comments Off on Boyd: What’s not to like?; Poker cheat gets flushed

Fantastic month for Atlantic City; Gural gets his wish

Posted on October 15, 2015 by David McKee

As the window for apples-to-oranges comparisons of Atlantic City casino revenue closes, so does the gap between same-store and outright gross-gaming revenues. In September, casinos were up 10% on a same-store basis (i.e., excluding the four closed ones from the … Continue reading →

Posted in Atlantic City, Boyd Gaming, Election, Harrah's, Internet gambling, Massachusetts, MGM Mirage, Mohegan Sun, New York, Penn National, PokerStars, Regulation, Rhode Island, Tilman Fertitta, Tourism, Tropicana Entertainment, Trump Entertainment Resorts | Comments Off on Fantastic month for Atlantic City; Gural gets his wish

DFS rose fast, fell faster

Posted on October 15, 2015 by David McKee

This just in: Nevada has lowered the boom on DFS operators. The fat’s in the fire for daily fantasy sports — and New Jersey might want to rethink its push for unregulated sports betting in the Garden State. According to … Continue reading →

Posted in Atlantic City, Geoff Freeman, International, Louisiana, New York, Regulation, Sheldon Adelson, Sports, Texas, TV | Comments Off on DFS rose fast, fell faster