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Category Archives: Atlantic City
The wrath of PokerStars; Hart’s win; NV Internet poker: Too soon to tell?
That “thud” you just heard was the price of an Atlantic City casino hitting its lowest level ever. In litigation filed against Colony Capital, spurned buyer Rational Group said it was to have paid only $15 million for the Atlantic … Continue reading
Revel: Christie catches a break; Illinois remains suicidal; Online poker debuts in Nevada
New Jersey Gov. Chris Christie (R) is one lucky fellow. Bankrupt Revel threatened to become an albatross around his neck, thanks to a $261 million tax break that Christie helped push through Trenton. Last week, it turned out that Revel … Continue reading
I-cahnned! River Palms sold; PokerStars out of A.C., Langford out to lunch
Subtract one casino from the Tropicana Entertainment portfolio: The River Palms Resort & Casino, in Laughlin, just went for $7 million today. TropEnt CEO Anthony Rodio isn’t pulling out of the Colorado River market altogether. He says the company will … Continue reading
Today, it’s Boyd’s turn to shine
Even the illusion of a rising tide lifts all boats, it would appear. Yesterday’s big stock-pump by Caesars Entertainment carried Boyd Gaming up with it, as did much-better-than-expected first-quarter numbers from Boyd. Shares that closed Tuesday at $8.94 were riding … Continue reading
Posted in Atlantic City, Boulder Strip, Boyd Gaming, Current, Internet gambling, Wall Street
3 Comments
Icahn nixes Trump deal; Steve Wynn’s fugitive friend
If Carl Icahn holds the note on your life, you are in a world of hurt, my friend. Just ask Trump Entertainment Resorts, whose $20 million sale of wretchedly performing Trump Plaza Hotel & Casino suddenly looks very shaky. What’s … Continue reading
Revel: It was all downhill from here
Yeah, Beyoncé is a hard act to follow but who knew that Revel would fall so far, so fast? So enjoy this brief moment when things looked so very promising* … in the meantime, I’m running down leads on some … Continue reading
Revel: What’s -$2 billion among friends?
Stephen Sweeney (D, right), president of the New Jersey state senate, has the honor of having been the first to call for ex-Revel CEO Kevin DeSanctis‘ head on a platter. Garden State regulators moved quickly to put Mohegan Sun veteran … Continue reading
Trump: No longer WARN’d
So it was Trump Plaza, denials to the contrary, that issued last week’s inflammatory layoff notice to 1,434 workers. Trump Entertainment Resorts had posted a WARN Act notice, informing all workers at the Plaza that, as of May 10, they … Continue reading
Posted in Atlantic City, Colony Capital, Current, Donald Trump, Economy
4 Comments
Revel: Don’t cry for him, Argentina; Are Twinkies the new Caesars?
Revel Atlantic City‘s day of deliverance is at hand: CEO Kevin DeSanctis has been ousted, along with Chief Investment Officer Michael Garrity. But there’s no need to shed tears over their fate. They will continue “developing amenity projects” for Revel … Continue reading
Adelson: Yes, we did! Wait, no, we didn’t! Well, OK, sorta … but not really!
“On the U.S. side … we view the State of Nevada as having uninspiring oversight of activities occurring in Macau. For every gap of oversight that exists from the Nevada Gaming Control Board or Nevada Gaming Commission, the U.S. Federal … Continue reading
Echelon no more: Boyd humiliated yet again; Caesars pulls another plug
If you’ll pardon my vulgarity, shit got real while I was tied up with other projects. Last week’s sale of excess baggage Dania Jai-Alai in Florida was just a tiny prelude to this morning’s blockbuster: Echelon is kaput. Instead, Boyd Gaming … Continue reading
Posted in Architecture, Atlantic City, Boyd Gaming, Carl Icahn, CityCenter, Current, Downtown, Economy, Environment, Florida, Fontainebleau, Genting, Harrah's, history, International, Kansas, Mississippi, New York, Plaza, Politics, Racinos, Regulation, Sahara, Singapore, Station Casinos, The Strip, Wall Street
7 Comments
Revel goes bust
In the most inevitable headline of 2013, Revel has — brace yourselves — filed for bankruptcy. It will become the latest in a long string of casinos that are owned and run by banks: Two-thirds of outstanding debt will be … Continue reading
Posted in Atlantic City, Cosmopolitan, Current, Dining, Economy, Entertainment, Marketing, Revel, Wall Street
6 Comments
Case Bets: Binion’s redux; Dr. Doom; Everybody goes to Caesars
Today’s top story is the rumor, first aired on LasVegasAdvisor.com that Binion’s Gambling Hall & Hotel will close in July, lock, stock and million-dollar display. This dovetails with an earlier report that a detailed makeover is in the works. So … Continue reading
Posted in Architecture, Atlantic City, California, Dan Gilbert, Derek Stevens, Dining, Downtown, Economy, Harrah's, Illinois, Indiana, Internet gambling, Marketing, Massachusetts, Ohio, Oscar Goodman, Palms, Penn National, Pennsylvania, Problem gambling, Racinos, Slot routes, Taxes, Technology, Terry Caudill, The Strip, Tilman Fertitta, Tribal
3 Comments
Trump: And then there was one
What’s an Atlantic City casino worth? Not too bloody much, especially if the name of Donald Trump is emblazoned across the façade. Trump Entertainment Resorts has parted with unloved, unremunerative Trump Plaza and truly for a pittance — $20 million. … Continue reading
An indispensable man; MGM’s two-front campaign
French statesman Georges Clemenceau once dryly remarked that the cemeteries are full of indispensable men. Clemenceau’s quip obtained fresh sting this week when the gaming world lost Dr. William Eadington. The industry scholar has been struggling with cancer for a … Continue reading
Posted in Atlantic City, Boyd Gaming, Current, history, Internet gambling, Macau, Massachusetts, MGM Mirage, Pansy Ho, Penn National, Problem gambling, Regulation, Revel, Stanley Ho, Technology
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MGM back into Atlantic City?
MGM Resorts International has a 50% stake in Borgata that nobody wants … except MGM. In bolstering move that Atlantic City sorely needs, MGM may get to reclaim its half of the resort (with the support of partner Boyd Gaming), … Continue reading
Christie: Oops, he did it again; Maryland: Take my casino, please
New Jersey Gov. Chris Christie (R) loves to veto Internet gambling bills so much that he’s just done it for a second time. There was incremental progress: In punting the ball to the Legislature’s one-yard line, Christie endorsed the idea … Continue reading
Posted in Atlantic City, Current, Economy, Goldman Sachs, Harrah's, Internet gambling, Marketing, Maryland, Massachusetts, Penn National, Politics, Regulation, Steve Wynn, Taxes, The Strip, Tribal
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Boyd tightens belt; Detroit defies Ohio threat; Tilman makes a boo-boo
It’s time to pay the piper for Boyd Gaming‘s $1.5 billion takeover of Peninsula Gaming and Boyd employees are the first ones feeling the pinch. Three vice presidents — including 13-year Boyd veteran Dan Stark — and roughly 250 employees … Continue reading
Posted in Atlantic City, Boyd Gaming, Current, Economy, Iowa, Louisiana, MGM Mirage, Ohio, Penn National, Pinnacle Entertainment, Regulation, Revel, Tilman Fertitta, Tribal, Warner Gaming
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Massachusetts … and then there were 11; End of the Colony Capital era?
“[W]ell-connected developer” — but so not well financed — David Nunes (below) just got his casino-application fee across the transom, meaning that there are 11 contestants vying for two casino licenses and a slot parlor in Massachusetts. A couple of … Continue reading
Hollywood, we have a problem; The Marrandino mystery
Ohio casinos had a below-average December, although the blow was softened by table hold of — YEOW! — 23%. That’s borderline-astronomical compared to Las Vegas averages for 2004-2011 period. It’ll help make up for slot revenues that suggest, with six … Continue reading
Posted in Atlantic City, Boyd Gaming, Cordish Co., Current, Dan Gilbert, Economy, Harrah's, Horseracing, Maryland, MTR Gaming, Ohio, Penn National, Racinos, Regulation, Wall Street
3 Comments