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- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
- David McKee on Sibella scandal spreads; Supremes forestall Seminoles
- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
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Category Archives: Atlantic City
Dr. Loveman’s voodoo; Reid hangs it up
Despite having wrought havoc upon Caesars Entertainment, Chairman Gary Loveman — looking alarmingly puffy and ill — manages to still find himself taken seriously as a talking head. He gave CNBC a dosage of his usual spin-doctoring. This includes one … Continue reading
Posted in Atlantic City, Cordish Co., Geoff Freeman, Harrah's, Harry Reid, history, Japan, Maryland, Pennsylvania, Politics, TV, World Series of Poker
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Saving souls on Capitol Hill
Rep. Jason Chaffetz (R) finally got to hold his dog-and-pony show on the eeeeeeevils of Internet gambling, after a previous date had been snowed out. As expected, the proceedings “broke little new ground” on the issue. Afterward, Chaffetz condescended to … Continue reading
Posted in Atlantic City, Fontainebleau, Harrah's, Internet gambling, New York, Politics, Regulation, Revel, Sheldon Adelson, Technology, Tribal, Trump Entertainment Resorts
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The wrath of Icahn; Cautious progress in Indiana
Using the power of the blogosphere, Carl Icahn opened an extra-large can of whup-ass on Unite-Here Local 54 today. While he fleetingly alluded to the ineptitude of Trump Entertainment Resorts management (“The bottom line is that, even without making exorbitant … Continue reading
Posted in Atlantic City, Carl Icahn, Donald Trump, Illinois, Indiana, Politics, Slot routes, Trump Entertainment Resorts, TV
Tagged Unite-Here
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Whither McCartney?; Distress at Caesars
Earlier this week, Vegas Tripping reported the departure of Thomas McCartney from The Cosmopolitan of Las Vegas. In its press release, the Cosmo went beyond the neutral sort of verbiage reserved for such pronouncements, saying that “Mr. McCartney did not … Continue reading
Is MGM the next REIT?; Bad news for PokerStars
Shares of MGM Resorts International could trade at $55. So thinks hedge-fund boss Jonathan Litt, who has proposed converting MGM into a REIT, a move he says could halve the company’s massive debt. (Asset sales are part of Litt’s plan.) The … Continue reading
Posted in Atlantic City, California, Harrah's, International, Internet gambling, Macau, MGM Mirage, PokerStars, Regulation, Sheldon Adelson, Tribal, Wall Street
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Roundball is Borgata’s newest draw; Board disses Elaine Wynn
Borgata is ahead of the curve again in Atlantic City. At least it’s thinking progressively, incepting a March Madness-themed free-throw competition as a first step toward skill-based gambling. Four hundred people have already plunked $20 each down to play on ad … Continue reading
Posted in Atlantic City, Boyd Gaming, Internet gambling, Marketing, Regulation, Sports, Steve Wynn, Technology, Tilman Fertitta
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The torments of Glenn Straub; Icahn wins another round
“I keep waiting for the elevator doors to open and somebody to walk out carrying bags of money. We keep hearing about people with money wanting to make bids. I haven’t seen them yet.” So said Glenn Straub, who continues to … Continue reading
Honeymoon over in Atlantic City; Resistance in Connecticut
All the gains Atlantic City casinos had been making from the downsizing of the market came to an abrupt end last month. Gambling revenues dove 16% and same-store revenues fell 2% (yes, even the Borgata‘s). Luck simply was not on … Continue reading
Trump’s hollow victory; Seminoles make new friends
In a display of either weakness or stupidity, Carl Icahn has caved in to Donald Trump and reached an agreement to keep the TV star’s name on Trump Taj Mahal. As anyone who’s followed the dwindling of the Trump empire from … Continue reading
Caesars’ pension woes
Caesars Entertainment got the boot in a big way from the National Retirement Fund, which bounced the company’s three Atlantic City casinos from membership. It also demanded $462 million from the company for “alleged withdrawal liability.” Although the NRF voted … Continue reading
Posted in Atlantic City, Economy, Harrah's
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Big Gaming speaks
Last week, the great and powerful of the casino industry attended a show-and-tell at the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum. Here’s what they had to say … Wynn Resorts: The company is looking to make … Continue reading
Posted in Atlantic City, Boyd Gaming, Economy, Genting, James Packer, Japan, Louisiana, Macau, Massachusetts, MGM Mirage, Ohio, Penn National, Politics, Problem gambling, Rhode Island, Singapore, Steve Wynn, The Strip, Wall Street
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Straub spurned again; Union vs. Icahn, Round Two
Revel has been snatched from Glenn Straub‘s grasp, at least for another week, even though Revel AC has switched its position from contentious opposition to Straub to support. Or, as Revel attorney John Cunningham said, they have “82 million reasons” … Continue reading
Fear and loathing in Washington; New goodies at Borgata
Sheldon Adelson sock puppet Rep. Jason Chaffetz (R) would be holding his much-ballyhooed hearing on Internet gambling today, had Mother Nature not intervened and forced a postponement. When it happens, it’ll be pretty much the kangaroo court you’d expect. His star witness is rabid and … Continue reading
New problem for Straub; Broad casino push in Florida
Whenever you think the Revel saga is done, a new complexity arises. Glenn Straub‘s $82 million purchase is set to be ruled upon in bankruptcy court tomorrow. But, slipping over the transom at the last minute come Leo Pustilnikov and fellow … Continue reading
Posted in Atlantic City, California, Florida, Glenn Straub, Politics, Racinos, Regulation, Revel, Tribal
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Straub’s new plan for Revel; Elaine Wynn gets rude treatment
Glenn Straub may be America’s newest casino owner but he’s quickly emerging as its most unpredictable. While he plans to reopen the gambling component of Revel, his latest brainwave is to add an anti-aging institution. Details are sketchy at present, … Continue reading
Posted in Atlantic City, Boyd Gaming, Glenn Straub, history, Kazuo Okada, Revel, Steve Wynn
2 Comments
Could Station go public?; Straub buys Revel again
Station Casinos is doing as well as it ever has since the Great Recession, fueling speculation that an IPO might be on the way. Granted, this is mostly speculation by investors and the media but Deutsche Bank‘s 25% stake in … Continue reading
Posted in Atlantic City, Glenn Straub, Michael Gaughan, Revel, Station Casinos, Wall Street
4 Comments
Straub still hearts Revel; Setback in Indiana
Glenn Straub‘s abusive/co-dependent relationship with Revel AC continues, even though federal bankruptcy court has driven a stake through his $95 million purchase agreement for the beached whale of a casino. As Judge Gloria Burns, who has presided over the soap … Continue reading
Posted in Atlantic City, Glenn Straub, Harrah's, history, Indiana, Lake Tahoe, Politics, Revel, South Dakota, Taxes, Wall Street
2 Comments
Bigamy in New York; Bluster in New Jersey
Empire Resorts‘ Montreign Resort Casino project has two things in common with Rivers Casino & Resort and Lago Resort & Casino (well, three if you count the fact that none has been built yet). All were chosen from among 16 … Continue reading
Trump wins battle against himself; Riviera’s fate sealed
Perpetual litigant Donald J. Trump has won the first round in his lawsuit against Trump Entertainment Resorts, whose minority shareholders include one Donald J. Trump. A bankruptcy judge in Delaware ruled that the suit can proceed. It contends that Trump … Continue reading
Caesars foe now its BFF; Suffolk Downs returns
Considering that it is the owner of Caesars Interactive and WSOP.com, one would hardly expect Caesars Entertainment to welcome PokerStars back to the U.S. market. But that is precisely what it has done, proclaiming that “we need to focus on where … Continue reading