Category Archives: Atlantic City

Mark your ballots; Trump Taj: Welfare queen

Posted on November 3, 2014 by David McKee

Tomorrow we get to exercise that precious franchise, the vote. So don’t oversleep, ‘kay? As everyone knows by now, the big rumble is in Massachusetts, where an attempt to repeal the state’s casino law is failing by a substantial margin in … Continue reading →

Posted in Atlantic City, California, Colorado, Election, Kansas, Massachusetts, MGM Mirage, Penn National, Politics, Racinos, Regulation, Rhode Island, South Dakota, Station Casinos, Steve Wynn, Tribal, Trump Entertainment Resorts | Comments Off

Wynn’s oysters schucked

Posted on November 3, 2014 by David McKee

Details of Steve Wynn‘s site-remediation plan are starting to emerge and they include rendering tainted soil inert by mixing it with cement. What they don’t include anymore are oyster beds to process polluted Mystic River water. Government officials nixed this … Continue reading →

Posted in Atlantic City, Boyd Gaming, Environment, Harrah's, International, Internet gambling, Massachusetts, PokerStars, Politics, Steve Wynn, Terry Caudill, Transportation | 1 Comment

Boyd impresses the Street, MGM disappoints

Posted on October 31, 2014 by David McKee

Boyd Gaming pleased Wall Street with its 3Q14 results, of which Joseph Greff of J.P. Morgan said “margin improvement was notable and impressive.” He noted modest growth in the Las Vegas locals and downtown segments and better-than-expected regional numbers, as … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, Current, Downtown, Economy, Environment, Genting, Hawaii, Macau, MGM Mirage, Reno, Sam Nazarian, The Strip, Wall Street | Comments Off

Fighting on in New Jersey; One-armed banditry

Posted on October 28, 2014 by David McKee

Monmouth Park may have been stayed from offering NFL and World Series bets, among others, but state Sen. Raymond Lesniak (D) isn’t giving up fighting the good fight, describing it as “the last hurrah.” Describing an Atlantic City that’s devoid … Continue reading →

Posted in Atlantic City, Entertainment, Foxwoods, Harry Reid, Illinois, Macau, Mohegan Sun, Racinos, Sports, Steve Wynn, Technology, The Strip | Comments Off

Election Special: What’s at stake; Fire sale at Trump

Posted on October 28, 2014 by David McKee

We know the big enchilada is Massachusetts, where repeal of the state’s casino law is on the ballot. It looks like it’s going to lose big-time, but anti-gambling sentiment runs deep in parts of the state. We’ve already been over … Continue reading →

Posted in Atlantic City, California, Charity, Colorado, Election, Environment, Kansas, Marketing, Massachusetts, Racinos, South Carolina, South Dakota, Station Casinos, Steve Wynn, Technology, Tribal, Trump Entertainment Resorts | 1 Comment

No sports betting for New Jersey; Christie’s quest

Posted on October 27, 2014 by David McKee

Much as might be expected, a federal judge handed down an injunction preventing Monmouth Park from taking sports wagers last weekend. Track advisor Dennis Drazin tried to shrug off the setback, calling it “only a step in the road.” State … Continue reading →

Posted in Atlantic City, Delaware, Economy, Harrah's, Regulation, Sports, Taxes | Comments Off

Quote of the Day

Posted on October 27, 2014 by David McKee

“Frankly, several of my advisers have told me that if the city and the state did not come up with the money, they’d be doing me a large favor. Even if we get the concessions from the city and the state, … Continue reading →

Posted in Atlantic City, Carl Icahn, Trump Entertainment Resorts | 1 Comment

All’s well at Penn; Casinos wary of Uncle Sam

Posted on October 24, 2014 by David McKee

Helped by better-than-expected performances at M Resort and Hollywood Casino at Charles Town Races, beating its own estimates, Penn National Gaming exceeded Wall Street’s consensus for 3Q14. Cannibalization of Charles Town has not been as great as was feared and … Continue reading →

Posted in Ameristar, Atlantic City, Boyd Gaming, Delaware, Election, Harrah's, M Resort, Massachusetts, MGM Mirage, Missouri, Mohegan Sun, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Regulation, Sports, Tilman Fertitta, West Virginia | Comments Off

Reading Loveman’s tea leaves

Posted on October 23, 2014 by David McKee

Gary Loveman has made a lot of mistakes as Caesars Entertainment CEO but building a convention center in Atlantic City wasn’t one of them. In fact, it’s been one of his better ideas. While he was in town to put … Continue reading →

Posted in Architecture, Atlantic City, Economy, Entertainment, Harrah's, Massachusetts, Regulation, Sheldon Adelson, Sports, Steve Wynn, The Strip, Trump Entertainment Resorts | 2 Comments

Caesars’ shell game; Setback in Japan

Posted on October 21, 2014 by David McKee

“Extend and pretend.” Those are the words of gaming analyst Alan Woinski, describing the debt-management practices of Caesars Entertainment and CEO Gary Loveman: “they extended out the maturities and just put new debt on top of old debt, and the … Continue reading →

Posted in Atlantic City, Harrah's, Internet gambling, Japan, Louisiana, Maryland, Massachusetts, New York, Politics, Problem gambling, Technology, The Strip, Wall Street | 1 Comment

Gross injustice; Let the sports betting begin!

Posted on October 21, 2014 by David McKee

If you work at Trump Taj Mahal, there’s good news and bad news. The good news is that the casino now stands a better chance of weathering a November financial crisis, preserving your job. The bad news is you just … Continue reading →

Posted in Atlantic City, Carl Icahn, Economy, Glenn Straub, Revel, Sports, Tropicana Entertainment, Trump Entertainment Resorts | Comments Off

A renaissance for Atlantic City?

Posted on October 17, 2014 by David McKee

If Gary Green set out to stir debate with his Casino Journal polemic on Atlantic City, he could hardly have succeeded better. For Green, the glass is considerably more than half-full and the Boardwalk is “healthy, viable and sound.” In … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colony Capital, Current, Economy, Glenn Straub, Harrah's, Maryland, MGM Mirage, Revel, Trump Entertainment Resorts, Wall Street | Comments Off

Wynn blocked in Boston?

Posted on October 17, 2014 by David McKee

While we wait for Boston Mayor Martin “McCheese” Walsh to pile on, the City of Revere and Local 103 of the International Brotherhood of Electrical Workers have done the inevitable and filed suit against the Massachusetts Gaming Commission, demanding that the … Continue reading →

Posted in Atlantic City, Massachusetts, Mohegan Sun, Regulation, Steve Wynn, Trump Entertainment Resorts | 1 Comment

Atlantic City: Which way is up?; Sheldon Adelson, prophet

Posted on October 16, 2014 by David McKee

Unburdened of four unprofitable casinos, if the revenue in Atlantic City is counted on a “same store” basis (i.e., leaving Revel, Showboat, the Atlantic Club and Trump Plaza out of the picture), the Boardwalk actually saw a 4% increase in … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colony Capital, G2E, Harrah's, International, Internet gambling, Japan, Macau, Maryland, Mohegan Sun, Revel, Sheldon Adelson, Trump Entertainment Resorts, Wall Street | 1 Comment

Steve Wynn, the early years

Posted on October 16, 2014 by David McKee

Steve Wynn is an irresistible storyteller. In this Wall Street Journal interview, he explains his origins in the casino business.

Posted in Atlantic City, history, Steve Wynn, The Strip | 2 Comments

Life after Revel; Sheldon’s solid quarter

Posted on October 15, 2014 by David McKee

Faced with fewer and fewer casino choices in Atlantic City, players seem to be choosing to stay home. The seaside city saw gaming revenues plummet 17% last month. That’s also the same percentage by which coin-in and slot revenues slipped. … Continue reading →

Posted in Atlantic City, Boyd Gaming, Economy, Florida, Harrah's, Internet gambling, Macau, MGM Mirage, Mohegan Sun, Pennsylvania, Revel, Sheldon Adelson, Singapore, The Strip, Tropicana Entertainment, Trump Entertainment Resorts, Wall Street | 2 Comments

An Angry Bird in the hand …

Posted on October 15, 2014 by David McKee

Although the relationship between casinos and skill-based games (poker excepted) has been that of vampire and crucifix, Atlantic City casinos are coming around to the idea of monetizing Words with Friends, say, for the casino floor. There’s even a “New … Continue reading →

Posted in Atlantic City, International, Regulation, Sports, Technology | Comments Off

Ivey loses & sundry Case Bets

Posted on October 9, 2014 by David McKee

Phil Ivey won’t be edge-sorting cards anytime soon. A British judge has ruled that, whether he knew it or not, Ivey was cheating when he won $12 million at Crockfords, a Genting Group casino in London. “He gave himself an advantage … Continue reading →

Posted in Atlantic City, California, Columbia Sussex, Election, Genting, Indiana, International, Japan, Lake Tahoe, Ohio, Penn National, Pinnacle Entertainment, Regulation, Station Casinos, Taxes, Tourism, Tribal, Wall Street, Warner Gaming | Comments Off

Playing chicken in Atlantic City

Posted on October 9, 2014 by David McKee

We’ve already seen four casinos close in Atlantic City and Carl Icahn is threatening to raise the ante to six. In a highly confrontational move, he’s demanding further concessions at the Tropicana Atlantic City from union Unite-Here, plus tax breaks … Continue reading →

Posted in Atlantic City, Carl Icahn, Donald Trump, Economy, Penn National, Taxes, Tropicana Entertainment, Trump Entertainment Resorts | Comments Off

Ohio: Success and saturation; The many excuses of Glenn Straub

Posted on October 7, 2014 by David McKee

Now that all four casinos and seven racinos are open, Ohio posted a spectacular year/year increase of 36% in gambling revenue. However, success came at a price, in terms of an 8% decline in same-store revenue, indicative of a saturated … Continue reading →

Posted in Atlantic City, Glenn Straub, Hard Rock International, Harrah's, MTR Gaming, Ohio, Penn National, Racinos, Revel, Wall Street | Comments Off