Category Archives: Atlantic City

Penn manages expectations

Posted on April 24, 2014 by David McKee

Penn National Gaming lowered estimates for cash flow and other metrics today, as well as releasing 1Q14 results that J.P. Morgan analyst Joseph Greff wrote were “generally in line with our … estimates.” According to Penn, player spending has been … Continue reading →

Posted in Atlantic City, Cordish Co., Cosmopolitan, Harrah's, Illinois, Indiana, Iowa, Massachusetts, Mississippi, New York, Penn National, Slot routes, Wall Street, West Virginia | Comments Off

Caesars: The day after

Posted on April 23, 2014 by David McKee

New York resort developers may be reeling from the sudden entry of Caesars Entertainment into the picture, but that doesn’t mean they’ve given up the fight. After all, Caesars’ move only impacts the Catskills region, not the Capital one nor … Continue reading →

Posted in Atlantic City, Boyd Gaming, Cordish Co., Foxwoods, Genting, Harrah's, Horseracing, International, Macau, Melco Crown Entertainment, MGM Mirage, New York, Penn National, Pennsylvania, Racinos, Sheldon Adelson | Comments Off

Why is this man smiling?

Posted on April 22, 2014 by David McKee

Scarcely had Penn National Gaming and Cordish Gaming decided to bury their differences and work together when their party was crashed. Who else could it be but ubiquitous Caesars Entertainment? The company has written a check for $1 million (refundable) … Continue reading →

Posted in Atlantic City, Cordish Co., Harrah's, New York, Ohio, Penn National | 1 Comment

Jilted in Iowa

Posted on April 18, 2014 by David McKee

Cedar Rapids Mayor Ron Corbett is feeling like a swain who got stood up by his best girl. After the Iowa Racing & Gaming Commission voted 4-1 against Cedar Crossing Casino, Corbett made a speedy exit from the room and … Continue reading →

Posted in Atlantic City, Economy, Internet gambling, Iowa, Regulation | Comments Off

Much ado about Massachusetts

Posted on April 18, 2014 by David McKee

Stephen Crosby, phlegmatic chairman of the Massachusetts Gaming Commission, makes a very unlikely looking lightning rod. But such he has become. He’s already drawn the wrath of Gary Loveman and now Boston Mayor Martin J. Walsh wants Crosby to recuse … Continue reading →

Posted in Architecture, Atlantic City, Boyd Gaming, Foxwoods, Harrah's, Massachusetts, MGM Mirage, Mohegan Sun, Neil Bluhm, New York, Racinos, Regulation, Steve Wynn, Technology, Tribal | Comments Off

Double whammy in Iowa; Desperation in Illinois

Posted on April 17, 2014 by David McKee

Iowa casino regulators took a strong stand in favor of the status quo, after playing it so cool they had expansion advocates fooled. Following the guidance of their own studies, they shot down the Cedar Crossing Casino project, citing its … Continue reading →

Posted in Atlantic City, Harrah's, Illinois, Penn National, Regulation, Taxes, Warner Gaming | 2 Comments

Soft landing in Atlantic City; Sweating the slots

Posted on April 14, 2014 by David McKee

A 4% increase in online play helped soften the landing for Atlantic City this month. With cyber-revenue factored into the equation, casinos were down only 2% on a same-store basis. Slot revenue fell 10% but the odds were in the … Continue reading →

Posted in Atlantic City, Boyd Gaming, Cretins, Harrah's, Mohegan Sun, Ohio, Penn National, Regulation, Revel, Technology, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts | Comments Off

Kill Phil and other pleasantries

Posted on April 14, 2014 by David McKee

That’s what Borgata would like to do to poker pro Phil Ivey. It is suing him after he cleaned them out of nearly $10 million at the baccarat tables. The suit contends that Ivey and a co-conspirator discovered a flaw … Continue reading →

Posted in Atlantic City, Boyd Gaming, Genting, Iowa, Penn National, Pennsylvania, Sheldon Adelson, Tilman Fertitta, Tropicana Entertainment, Warner Gaming | Comments Off

Progress and caution

Posted on April 11, 2014 by David McKee

International Game Technology made history yesterday when it unrolled its Powerbucks interstate, progressive jackpot. Under this technological umbrella, IGT games at 22 Caesars Entertainment and Boyd Gaming properties in Las Vegas can be connected with those at five casinos in Atlantic … Continue reading →

Posted in Atlantic City, Boyd Gaming, Economy, Harrah's, IGT, Iowa, New York, Penn National, Pinnacle Entertainment, Racinos, Technology, The Strip, Tourism, TV, Wall Street | 1 Comment

Paint them black; New ideas for Atlantic City

Posted on April 11, 2014 by David McKee

“Fortunately for police, the chips floated.” That was the undoing of casino cheat Vuong Q. Truong, who tried to hide the better part of $150,000 worth of forged casino chips at the bottom of a lake. No go. The ongoing Truong … Continue reading →

Posted in Atlantic City, Entertainment, Harrah's, Illinois, International, Marketing, Maryland, Missouri, New York, Penn National, Transportation, West Virginia | 1 Comment

Caesars: ‘Iceberg, debt ahead!’

Posted on April 9, 2014 by David McKee

Citing a “negative” outlook for Caesars Entertainment, bond-ratings agency Standard & Poor’s downgraded its ranking of the company yesterday. Caesars liquidity, analyst Melissa Long opined, was insufficient to meet $3.5 billion in debt maturities that come due next year, nor … Continue reading →

Posted in Atlantic City, Harrah's, Revel, Wall Street | Comments Off

Belaboring the obvious; Ohio’s growing pains

Posted on April 8, 2014 by David McKee

What is being hailed as a major breakthrough in problem-gambling treatment rests upon some observations that don’t seem to be particularly novel. Disordered gambling is being blamed on the insula area of the brain, crucial to forming emotions. So far, … Continue reading →

Posted in Atlantic City, Boyd Gaming, Cordish Co., Dining, Hard Rock International, Harrah's, Maryland, Ohio, Penn National, Problem gambling, Racinos, Regulation, Technology | Comments Off

The son also rises; Tight squeeze in Macao

Posted on April 7, 2014 by David McKee

Add James Packer to the list of casino moguls with their eyes on Japan. He’s prepared to commit $5 billion to a resort project in the Land of the Rising Sun. Officials in South Korea, unlike their Japanese brethren, aren’t … Continue reading →

Posted in Atlantic City, Economy, Environment, Harrah's, Internet gambling, James Packer, Japan, Macau, Pennsylvania | Comments Off

Sheldon Adelson, sacred monster; New Jersey ‘Net

Posted on April 2, 2014 by David McKee

In case you hadn’t heard, Sheldon Adelson is a pretty rich fella. A run-up in Las Vegas Sands stock over the last two days has put $2.1 billion extra in his pocket. This, inevitably, has sparked further discussion of his … Continue reading →

Posted in Atlantic City, Internet gambling, Politics, Regulation, Sheldon Adelson, Taxes, The Strip, Wall Street | Comments Off

(Economic) climate change in New Jersey, Nevada and Iowa

Posted on March 31, 2014 by David McKee

Jobs are coming back to Atlantic City … well, at least a trickle. In a month, casino operators will be required to have their Internet-gambling personnel on site in New Jersey. We’re not talking about large numbers of staff — … Continue reading →

Posted in Affinity Gaming, Atlantic City, Colorado, Economy, Harrah's, Internet gambling, Iowa, Isle of Capri | 1 Comment

Revel limps forward; Sheldon Adelson’s would-be buddies

Posted on March 28, 2014 by David McKee

President Scott Kreeger is insisting all is well at embattled Revel Resort. On one flank he’s got employees on whose behalf Unite-Here has been pressing for union representation. On the other he has the task of trying to make the … Continue reading →

Posted in Atlantic City, Boyd Gaming, Harrah's, Internet gambling, Louisiana, MGM Mirage, Revel, Sheldon Adelson, Texas, Wall Street | Comments Off

Big trouble at Caesars

Posted on March 27, 2014 by David McKee

In a shocking development, even for those of us who have followed Caesars Entertainment closely, the company is shutting down Harrah’s Tunica (formerly Grand Casino Tunica) on June 2. Regional president John Payne confessed to Bloomberg News that the casino … Continue reading →

Posted in Atlantic City, Harrah's, Mississippi, Regulation, Tourism, Tribal, Wall Street | 1 Comment

Strange Bedfellows Dept.

Posted on March 24, 2014 by David McKee

It’s hard to know what to make of this. The Republican Jewish Coalition is coming to Las Vegas and its headliner is Jeb Bush. Now, if there is anyone more anti-gambling in the GOP than Jeb, you’d be hard-pressed to … Continue reading →

Posted in Atlantic City, Economy, Election, Florida, Internet gambling, Ohio, Politics, Regulation, Sheldon Adelson, Tourism, Wisconsin | Comments Off

More hitches in Massachusetts

Posted on March 21, 2014 by David McKee

Efforts by Wynn Resorts and Mohegan Sun to bring casinos to eastern Massachusetts could be in trouble. In another hitch to its elongated selection process, the Massachusetts Gaming Commission has agreed to consider whether to consider Boston a host community. … Continue reading →

Posted in Atlantic City, Foxwoods, Marketing, Massachusetts, MGM Mirage, Mohegan Sun, Problem gambling, Regulation, Sam Nazarian, Steve Wynn | 1 Comment

Twin setbacks in Massachusetts

Posted on March 20, 2014 by David McKee

After all the tsuris that’s gone into bringing casinos to Massachusetts, it may be for naught. In two months, public support has gone from 53% to 46% (against 43% opposed), according to MassINC Polling Group. That means that, if casino … Continue reading →

Posted in Atlantic City, Culinary Union, Goldman Sachs, Macau, Massachusetts, Mohegan Sun, Penn National, Revel, Steve Wynn, The Strip | Comments Off