Category Archives: Atlantic City

Death throes at Trump Taj; Casino clash in Maine

Posted on December 2, 2014 by David McKee

Even with a $5 million cash infusion from rich uncle Carl Icahn, that didn’t stop Trump Taj Mahal from going into Death Spiral Mode. Its greatest asset, its new(ish) hotel tower, has been closed and the casino will no longer … Continue reading →

Posted in Atlantic City, GTECH, Horseracing, IGT, International, Lawrence Ho, Maine, Melco Crown Entertainment, Penn National, Politics, Tribal, Trump Entertainment Resorts | Comments Off on Death throes at Trump Taj; Casino clash in Maine

Palace coup at Full House

Posted on December 1, 2014 by David McKee

When you strike at the king, you must kill him — and dissident investor Dan Lee (left) was successful in deposing Andre Hilliou from his throne at Full House Resorts. “I would also like to thank Andre and Mark for their … Continue reading →

Posted in Atlantic City, California, Dan Lee, Entertainment, Indiana, Internet gambling, Marketing, Mississippi, New York, PokerStars, Regulation, Sam Nazarian, The Strip, Tribal, Wall Street | 1 Comment

Loveman’s credit capers; Green shoots in flyover country

Posted on December 1, 2014 by David McKee

Reorganization of Caesars Entertainment promises to continue to provide drama. UMB Bank threw red meat on the barbeque with a lawsuit that charged Apollo Management and Texas Pacific Group with having “thoroughly ransacked CEOC in a sweeping and now transparent plan … Continue reading →

Posted in Atlantic City, Boyd Gaming, Economy, Harrah's, Isle of Capri, Louisiana, Maryland, Ohio, Penn National, Pinnacle Entertainment, Regulation, The Strip, Tilman Fertitta, Wall Street, World Series of Poker | 6 Comments

Icahn’s olive branch

Posted on December 1, 2014 by David McKee

As the clock ticks down toward a Dec. 4 bankruptcy hearing at which Trump Entertainment Resorts could be dissolved, Carl Icahn is nothing if not optimistic. He continues to believe he can recoup the $286 million in debt he holds … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Environment, Genting, New York, Regulation, Taxes, Trump Entertainment Resorts | 2 Comments

Paid to not play?; More trouble for Trump, Caesars

Posted on November 24, 2014 by David McKee

Although the American Gaming Association came down against Massachusetts‘ proposed “managed play” system of regulating losses, casino companies are saying, “Not so fast.” Wynn Resorts, MGM Resorts International and Penn National Gaming are all in favor of the idea of … Continue reading →

Posted in Arizona, Atlantic City, Carl Icahn, Harrah's, Massachusetts, MGM Mirage, Penn National, Problem gambling, Regulation, Sports, Steve Wynn, Tribal, Trump Entertainment Resorts, Wall Street | 1 Comment

Case Bets

Posted on November 20, 2014 by David McKee

A California tribe is getting into Internet gambling in a somewhat roundabout way. The Pala Indians are beta-testing PalaCasino.com, which will be run off the online platform of … Borgata. (Casinos in Atlantic City can host as many as five … Continue reading →

Posted in Atlantic City, Boyd Gaming, California, Cosmopolitan, Economy, Entertainment, Harrah's, Internet gambling, New York, Ohio, Penn National, Regulation, The Strip, Tourism, Tribal | Comments Off on Case Bets

Revel: Brookfield bails, Straub back in; A few good men

Posted on November 19, 2014 by David McKee

Like its predecessors at Revel, management at Brookfield US Holdings found itself with an albatross around its neck: the cost-intensive Inlet District Energy Center. The standalone power plant cost the resort $1.25 million a month. Brookfield hoped to reduce those costs … Continue reading →

Posted in Atlantic City, Foxwoods, Genting, Glenn Straub, Harrah's, International, Internet gambling, Massachusetts, MGM Mirage, New York, Pennsylvania, Revel, Sports, Taxes, Tribal, Wall Street | Comments Off on Revel: Brookfield bails, Straub back in; A few good men

Everybody’s doing it

Posted on November 19, 2014 by David McKee

Building conference centers in Atlantic City, it seems. Add Resorts Atlantic City to the brief list of casino trying to diversify their appeal by going for the meeting business. It won’t be as grand as the one as Harrah’s Resort … Continue reading →

Posted in Atlantic City, CityCenter, Harrah's, Internet gambling, Mohegan Sun, Revel, Sports, The Strip, Tourism | Comments Off on Everybody’s doing it

Philadelphia: No surprise here

Posted on November 18, 2014 by David McKee

As expected, the Pennsylvania Gaming Control Board gave the last Philadelphia casino license to a partnership of Cordish Gaming and Greenwood Gaming. The flashy Live! Hotel & Casino will nestle in the stadium area in the south part of town. “We’re … Continue reading →

Posted in Atlantic City, Cordish Co., Economy, Foxwoods, Greenwood Racing, Harrah's, Mohegan Sun, Neil Bluhm, New York, Pennsylvania | Comments Off on Philadelphia: No surprise here

Incompatible bedfellows; Freeman seizes the day

Posted on November 17, 2014 by David McKee

Boyd Gaming and MGM Resorts International have gone to bed with bwin.party but may wake up with Anaya Gaming Group. That’s one possible outcome of “preliminary discussions with a number of interested parties” and bwin. “Such discussions may or may not … Continue reading →

Posted in Atlantic City, Boyd Gaming, Geoff Freeman, Hard Rock Hotel, International, Internet gambling, Iowa, Marketing, MGM Mirage, PokerStars, Regulation, Sports, Warner Gaming | Comments Off on Incompatible bedfellows; Freeman seizes the day

Impossible choice at Trump Taj; Ultimate Poker busts

Posted on November 14, 2014 by David McKee

Ownership of Trump Taj Mahal has handed down to workers a choice that might be described as being between bad and worse: accept the loss of their health and pension benefits or, if Unite-Here continues to pursue an appeal in … Continue reading →

Posted in Atlantic City, Carl Icahn, Economy, Harrah's, Internet gambling, Michael Gaughan, Sheldon Adelson, Station Casinos, Taxes, Trump Entertainment Resorts | 2 Comments

Hope on the Boardwalk

Posted on November 13, 2014 by David McKee

Down four casinos and counting, Atlantic City suffered a 9% dip last month but a 14% gain on a same-store basis. A 13% fall in slot win and a 12% decline in coin-in seems to have driven the slippage: In … Continue reading →

Posted in Atlantic City, Boyd Gaming, Current, Harrah's, Internet gambling, MGM Mirage, Mohegan Sun, PokerStars, The Strip, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts | 1 Comment

Station mixes candor, optimism; Adelson: What’s next?

Posted on November 13, 2014 by David McKee

Station Casinos CFO Marc Falcone wasn’t showing his cards in yesterday’s conference call with analysts. He would only say that, in the wake of Proposition 48‘s defeat in California, Station and the North Fork Rancheria of Mono Indians would explore “other … Continue reading →

Posted in Atlantic City, California, Detroit, Economy, Election, Harry Reid, Internet gambling, MGM Mirage, Politics, Regulation, Sheldon Adelson, Station Casinos, Tribal, Trump Entertainment Resorts | Comments Off on Station mixes candor, optimism; Adelson: What’s next?

Showboat sold

Posted on November 12, 2014 by David McKee

For a long time, there’s been talk of Stockton College opening a satellite campus in Atlantic City. Many thought it would land at the Atlantic Club Hotel but, disposing of a non-core asset in a non-gaming transaction, Caesars Entertainment has … Continue reading →

Posted in Atlantic City, Economy, Harrah's | 1 Comment

Caesars: How do they do it?

Posted on November 11, 2014 by David McKee

This just in: Working with “key senior creditors,” Caesars Entertainment Operating Co. is reported to be arranging a prepackaged bankruptcy, with a target date of Jan. 14. How does Gary Loveman keep his job? If he were a cat, he’d … Continue reading →

Posted in Atlantic City, Economy, Harrah's, Macau, Ohio, Regulation, The Strip, Wall Street, World Series of Poker | Comments Off on Caesars: How do they do it?

Quote of the Day

Posted on November 11, 2014 by David McKee

“Combined between schools and the municipal government in Atlantic City, it costs $377 million a year. That’s not sustainable.” — New Jersey Senate President Stephen Sweeney (D) proposing an austerity plan to stabilize Atlantic City’s finances, in advance of a a … Continue reading →

Posted in Atlantic City, Economy, Taxes | Comments Off on Quote of the Day

Philadelphia decision tipped; Insolvency on the high seas

Posted on November 11, 2014 by David McKee

While we’ve been focused on Boston and New York, a major casino decision in Philadelphia has been creeping upon us. The second casino license in Philly city limits is to be awarded on Nov. 18 and early intel has it … Continue reading →

Posted in Atlantic City, Cordish Co., Economy, Election, Florida, Geoff Freeman, Greenwood Racing, Maryland, Massachusetts, MGM Mirage, Minnesota, Neil Bluhm, Penn National, Pennsylvania, Problem gambling, Regulation, Steve Wynn, Technology, Tomato King Procacci, Tribal, Uncategorized | Comments Off on Philadelphia decision tipped; Insolvency on the high seas

Sheldon steps in it again and again

Posted on November 10, 2014 by David McKee

Sheldon Adelson‘s love of authoritarianism has made him another enemy. At the latest Israel American Conference, Adelson rhapsodized, “God talked about all the good things in life. He didn’t talk about Israel remaining as a democratic state, otherwise Israel isn’t going to … Continue reading →

Posted in Atlantic City, Economy, Genting, International, Internet gambling, Japan, Macau, Politics, Sheldon Adelson, Singapore, Tourism | 1 Comment

Election ’14: The day after

Posted on November 6, 2014 by David McKee

MGM Resorts International didn’t wait for the ballots to get cold. It had equipment on site in downtown Springfield yesterday, conducting “geotechnical soil assessments” on the future site of the parking garage. Laying out a timeline for the project MGM … Continue reading →

Posted in Atlantic City, Boyd Gaming, California, Election, Georgia, Harrah's, Internet gambling, Massachusetts, MGM Mirage, PokerStars, Regulation, Sheldon Adelson, Tribal, Wall Street | 1 Comment

Rough times in Macao; The NFL’s double standard

Posted on November 3, 2014 by David McKee

At least in relative, this month is shaping up as the worst in Macao‘s casino history, with the gambling industry looking at a 23% drop in gross receipts. And when 80% of your economy is predicated on casinos, you’ve got … Continue reading →

Posted in Architecture, Atlantic City, International, Macau, MGM Mirage, Regulation, Sheldon Adelson, South Korea, Sports, Steve Wynn | 2 Comments