Category Archives: Atlantic City

Rebottling a genie

Posted on March 19, 2014 by David McKee

One would hate to think how many businesses in Clark County get by on the revenue from slot routes, rather than from their primary purpose. But county commissioners didn’t think to define “incidental” — an understandable oversight — when making … Continue reading →

Posted in Atlantic City, California, Carl Icahn, Horseracing, Indiana, Internet gambling, Slot routes, Tropicana Entertainment | 1 Comment

Incest in Philadelphia and New Jersey

Posted on March 17, 2014 by David McKee

Pennsylvania‘s one-and-one-third rule for casino ownership is playing hob with applications for the state’s final casino license, in Philadelphia. For instance, frontrunner Market 8 would be one-quarter owned by the ubiquitous Ira Lubert, who already owns half of Valley Forge … Continue reading →

Posted in Atlantic City, Cordish Co., Don Barden, Greenwood Racing, Iowa, Macau, Mohegan Sun, Neil Bluhm, Penn National, Pennsylvania, Regulation, Revel, Sheldon Adelson, Tomato King Procacci, Tribal, Warner Gaming | Comments Off on Incest in Philadelphia and New Jersey

Optimism around the industry

Posted on March 13, 2014 by David McKee

Las Vegas‘ premier casino companies have been showing their wares at the  J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum. Among the pilgrims was Wynn Resorts CFO Matt Maddox, who reported that Wynncore is increasing revenue per available room … Continue reading →

Posted in Atlantic City, Boyd Gaming, International, Internet gambling, Japan, Louisiana, Macau, Massachusetts, Mississippi, Sheldon Adelson, Steve Wynn, The Strip, Tilman Fertitta, Wall Street | Comments Off on Optimism around the industry

Adelson: Sore winner; Good news from Atlantic City

Posted on March 12, 2014 by David McKee

Macao’s 2013 casino haul of $45 billion seems pretty mind-boggling on its own merits. That number could be $115 billion by 2018. Much of that growth will be driven by post-2015 projects of Melco Crown Entertainment and Galaxy Entertainment Group. … Continue reading →

Posted in Atlantic City, Boyd Gaming, Current, Donald Trump, Harrah's, Internet gambling, Macau, Melco Crown Entertainment, Mohegan Sun, Revel, Sheldon Adelson, The Strip, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts, Wall Street | 2 Comments

Caesars disappoints Wall Street

Posted on March 12, 2014 by David McKee

Caesars Entertainment posted a staggering, $1.76 billion loss (-$12.83/share), as some analysts fret that the recent fire sale of four casinos to Caesars Growth Partners may starve parent company Caesars Entertainment Operating Co. of cash flow. Meanwhile, Big Caesars has … Continue reading →

Posted in Atlantic City, Harrah's, Louisiana, Missouri, Revel, Wall Street | 4 Comments

Boyd under siege? Tight (slots) on the East Coast

Posted on March 11, 2014 by David McKee

Yesterday, Elliott Management announced that it owns 5% of Boyd Gaming. Shares of the company, which had closed just under $12, opened at $14. But is this a vote of confidence in Boyd? According to Seeking Alpha, “Elliott has a … Continue reading →

Posted in Atlantic City, Boyd Gaming, Columbia Sussex, Florida, Internet gambling, Lake Tahoe, Laughlin, Neil Bluhm, New York, Pennsylvania, Pinnacle Entertainment, Regulation, Reno, Technology, Tourism, Tropicana Entertainment, Wall Street, West Virginia | Comments Off on Boyd under siege? Tight (slots) on the East Coast

Building better mousetraps

Posted on March 6, 2014 by David McKee

Were I Steve Wynn, I would be feeling somewhat discouraged by my prospects in Massachusetts. Just look at what happened to Cordish Gaming. Its Leominster slot-parlor proposal got high marks, but was ultimately passed over because Penn National Gaming‘s rival … Continue reading →

Posted in Atlantic City, Cordish Co., Entertainment, Horseracing, Marketing, Massachusetts, Mohegan Sun, Penn National, Reno, Steve Wynn, Technology, Transportation, Warner Gaming | Comments Off on Building better mousetraps

More slots for the Sunshine State; Sheldon’s big payday

Posted on March 5, 2014 by David McKee

 A 453-page casino-enabling bill in the Florida state Senate just got a bit longer when Sen. Maria Sachs added language that would enable six additional counties (Palm Beach, Gadsden, Washington, Lee, Hamilton and Brevard) to have slots at their parimutuels. … Continue reading →

Posted in Arizona, Atlantic City, Environment, Florida, International, Isle of Capri, Macau, Politics, Racinos, Regulation, Revel, Sheldon Adelson, Steve Wynn, Taxes, Transportation, Tribal | 1 Comment

Scott makes his move; Sudden death in New Hampshire

Posted on March 5, 2014 by David McKee

Just when it looked like the casino train was going to leave the station without him, Florida Gov. Rick Scott (R) has opened compact renegotiations with the Seminole Tribe. The latter would like to keep blackjack and baccarat, Scott would … Continue reading →

Posted in Atlantic City, Boyd Gaming, Florida, Genting, MGM Mirage, New Hampshire, New York, Racinos, Regulation, Revel, Sheldon Adelson, Tribal | Comments Off on Scott makes his move; Sudden death in New Hampshire

Case Bets: Sands, Atlantic City, Maryland, Isle of Capri, Churchill Downs, etc.

Posted on February 28, 2014 by David McKee

Las Vegas Sands lost more top executive talent when Sands Bethworks President Robert DeSalvio handed in his notice. He’ll be at the casino through mid-March but the move seems to have caught Sands off-guard. The latter assured reporters that DeSalvio’s … Continue reading →

Posted in Atlantic City, Churchill Downs, Cordish Co., Foxwoods, Harrah's, Horseracing, Illinois, International, Isle of Capri, Kentucky, Louisiana, Maryland, Pennsylvania, Sheldon Adelson, Tilman Fertitta, Wall Street | 1 Comment

Revere: Mohegan Sun rising in the east; Dose of reality in New Jersey

Posted on February 26, 2014 by David McKee

Election results are in from Revere, where Suffolk Downs and Mohegan Sun are partnering to build a racino. It wasn’t even close. Casino opponents were heavily outspent and, in the end, heavily outvoted, being crushed in a landslide, 63% to … Continue reading →

Posted in Atlantic City, Cordish Co., Current, Economy, Election, Greenwood Racing, Internet gambling, Massachusetts, Mohegan Sun, Penn National, Taxes, Tribal | Comments Off on Revere: Mohegan Sun rising in the east; Dose of reality in New Jersey

Nugget strikes gold; Hailing Caesars

Posted on February 25, 2014 by David McKee

One casino’s misery is another’s good fortune. The Golden Nugget in Atlantic City says it’s being swamped with new business ever since Caesars Entertainment and Tropicana Entertainment conspired to the euthanize the Atlantic Club. According to General Manager Tom Pohlman, … Continue reading →

Posted in Architecture, Atlantic City, Cordish Co., Delaware, Downtown, Economy, Harrah's, Internet gambling, Maryland, MGM Mirage, Taxes, The Strip, Tilman Fertitta, Tropicana Entertainment | 1 Comment

Wild, wild East

Posted on February 24, 2014 by David McKee

In the absence of a strong regulatory apparatus, Maryland Live, at Arundel Mills, is taking matters into its own hands. A 200-strong security force and a Batcave of surveillance technology search for the slightest nuance of untoward conduct. “A number of … Continue reading →

Posted in Atlantic City, Cordish Co., Economy, Japan, Maryland, Sheldon Adelson, Technology | Comments Off on Wild, wild East

And then there were three; Atlantic City under pressure again

Posted on February 20, 2014 by David McKee

Nevada gaming authorities will have to start reporting the Silver State’s online-gambling revenue now that South Point has entered the lists under its Real Gaming banner. (We won’t get the numbers until late March.) The site ” is offering tournament play … Continue reading →

Posted in Atlantic City, Boyd Gaming, Election, Entertainment, Florida, Harrah's, Internet gambling, Michael Gaughan, Regulation, Station Casinos, The Strip, Tribal | Comments Off on And then there were three; Atlantic City under pressure again

MGM impresses Wall Street

Posted on February 19, 2014 by David McKee

MGM Resorts International didn’t meet Wall Street‘s consensus for the last quarter of 2013, losing eight cents a share instead of earning $0.07 EPS. But analysts were in a forgiving mood. After all, the company had lost $2.50 a share just … Continue reading →

Posted in Atlantic City, CityCenter, Economy, Japan, Maryland, Massachusetts, MGM Mirage, The Strip, Wall Street | Comments Off on MGM impresses Wall Street

Venetian restored; Mobile gaming ascendant

Posted on February 18, 2014 by David McKee

One of the 19th century’s greatest minds was dragged kicking and screaming back into the 21st century when Las Vegas Sands fully restored its Web sites. No more horse-and-buggy rides or reading by candlelight for Sheldon Adelson. It’s back to … Continue reading →

Posted in Atlantic City, Boyd Gaming, Internet gambling, Sheldon Adelson, Tilman Fertitta, Tropicana Entertainment | Comments Off on Venetian restored; Mobile gaming ascendant

Keeping up with the Joneses

Posted on February 17, 2014 by David McKee

Long a money pit for the Saulte Ste. Marie Tribe of Chippewa Indians, the Greektown Casino in downtown Detroit is now owner Dan Gilbert‘s problem. A smoky warren of gambling spaces, the original layout is a clusterf**k that warrants Greektown’s … Continue reading →

Posted in Architecture, Atlantic City, CityCenter, Dan Gilbert, Detroit, International, Massachusetts, MGM Mirage, Mississippi, Problem gambling, Revel, Rhode Island, Sports | Comments Off on Keeping up with the Joneses

Casinos behaving badly

Posted on February 14, 2014 by David McKee

Reno‘s Peppermill Casino is going to be $1 million lighter in the wallet, after it ‘fessed up to spying on other casinos’ proprietary data. Peppermill analyst Ryan Tors was caught at the Grand Sierra using a tool known as a … Continue reading →

Posted in Atlantic City, Dan Gilbert, Harrah's, Ohio, Regulation, Reno, Revel, Technology | Comments Off on Casinos behaving badly

Churchill Downs gets singed, casino creditors get burnt

Posted on February 10, 2014 by David McKee

Nick Ribis, a contentious figure in the Atlantic City casino scene is at it again. Or so contends a lawsuit by Churchill Downs. The racino company claims it paid Ribis $2.5 million “to develop and operate” Internet gambling on its … Continue reading →

Posted in Atlantic City, Churchill Downs, Colony Capital, Florida, Foxwoods, Harrah's, Horseracing, Internet gambling, Massachusetts, Mohegan Sun, Racinos, Revel, Sam Nazarian, Tribal | 1 Comment

The many faces of Steve Wynn

Posted on February 4, 2014 by David McKee

It’s great sport following the tortuous circumlocutions through which Wynn Resorts is putting itself, trying to square its varying positions on Internet gambling. El Steve declared himself against it in an interview with Jon Ralston, although he game himself a … Continue reading →

Posted in Atlantic City, Harrah's, Internet gambling, Macau, Massachusetts, Regulation, Steve Wynn | 1 Comment