Category Archives: Atlantic City

Quote of the Day

Posted on May 3, 2010 by David McKee

“It’s not going to come back to 2006 and 2007, because people were spending more than they could afford then.” — Spectrum Gaming Group Managing Director Michael Pollock, administering a dose of realism to the casino industry.

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

Sheldon’s smokin’ (something)

Posted on April 30, 2010 by David McKee

If any other gaming CEO than Sheldon Adelson opened the most expensive casino ever ($5.5 billion) and projected it would recoup its tab in five years — requiring a return on investment well above 20% when you take operating costs … Continue reading →

Posted in Atlantic City, Colony Capital, Entertainment, Fontainebleau, Harrah's, International, Macau, Marketing, Penn National, Pennsylvania, Planet Hollywood, Sheldon Adelson, Singapore, Station Casinos, Wall Street, World Series of Poker | 2 Comments

Harrah’s red-headed stepchild

Posted on April 23, 2010 by David McKee

If we (you, me, everybody) had a dollar for ever time we heard a rumor that Harrah’s Entertainment was putting The Rio on the block, we could pool enough moolah to amortize CEO Gary Loveman‘s recent $100,000 pay cut. Our … Continue reading →

Posted in Archon Corp., Atlantic City, Current, Economy, George Maloof, Harrah's, International, James Packer, Laughlin, Planet Hollywood, Station Casinos, The Strip, Wall Street | 10 Comments

Trump wins, Atlantic City loses

Posted on April 14, 2010 by David McKee

Long-suffering Atlantic City is going to stuck with one of the heaviest albatrosses around its neck — Donald J. Trump — for the foreseeable future. Das Donald’s $225 million cash offer for what’s left of Trump Entertainment Resorts trumped a … Continue reading →

Posted in Atlantic City, Carl Icahn, Donald Trump, Economy, Marketing, Tourism | 6 Comments

This just in: Wynn jilts Philadelphia

Posted on April 8, 2010 by David McKee

On Monday, Steve Wynn was making nice with Philadelphia Mayor Michael Nutter and vowing to glad-hand every civic leader in sight. He had a full set of renderings for how his Wynn Resorts makeover of the mortally wounded Foxwoods project … Continue reading →

Posted in Architecture, Atlantic City, Boyd Gaming, Cannery Casino Resorts, Current, Don Barden, Harrah's, MGM Mirage, Neil Bluhm, Penn National, Pennsylvania, Politics, Racinos, Regulation, Sheldon Adelson, Steve Wynn, Taxes, Tribal | Comments Off on This just in: Wynn jilts Philadelphia

MGM, Sands & the cone of silence

Posted on April 8, 2010 by David McKee

While Las Vegas Review-Journal Publisher Sherman Frederick was fretting about the “troubling egg caper” in Searchlight, Nev., his newspaper wasn’t losing much sleep over a double-barreled casino scandal. Either a sudden malady had wiped out the gaming desk or somebody … Continue reading →

Posted in Atlantic City, Current, Election, Harry Reid, Illinois, Macau, Marketing, MGM Mirage, North Las Vegas, Pansy Ho, Regulation, Sheldon Adelson, Stanley Ho, The Mob | Comments Off on MGM, Sands & the cone of silence

From the mailbag: Wynn in Philly

Posted on April 7, 2010 by David McKee

A longtime observer of the industry (and player) has this to say about Steve Wynn‘s revised sales pitch to the City of Philadelphia … “Unlike too many folks, I don’t worship Steve Wynn (in fact, I’ll never forgive him for … Continue reading →

Posted in Atlantic City, Current, Harrah's, Maryland, Neil Bluhm, Pennsylvania, Steve Wynn, West Virginia | 2 Comments

Rose prophetic re: Macao

Posted on April 5, 2010 by David McKee

While Las Vegas newspapers have been reticent regarding the regulatory can of worms opened by recent findings about the Macanese operations of Las Vegas Sands and MGM Mirage, veteran gaming legal analyst I. Nelson Rose has felt no such compunction. … Continue reading →

Posted in Atlantic City, Detroit, Economy, Illinois, MGM Mirage, Mississippi, Pansy Ho, Regulation, Sheldon Adelson, Stanley Ho, The Mob | 1 Comment

Could Steve Wynn jilt Philadelphia?

Posted on April 2, 2010 by David McKee

What’s Steve Wynn supposedly doing in Atlantic City this weekend and why is he allegedly kicking the tires on casino properties there? Well, it is a buyer’s market and half of Borgata is up for grabs (as would be Trump … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colony Capital, Current, Donald Trump, Entertainment, International, Macau, MGM Mirage, Pansy Ho, Pennsylvania, Phil Ruffin, Pinnacle Entertainment, Politics, Regulation, Steve Wynn, The Strip | 10 Comments

S**t hits MGM, Sands fan

Posted on April 1, 2010 by David McKee

Local newspapers — and bloggers — have been slow to pick up on a couple of Reuters dispatches that show — as some doomsayers prognosticated — that involvement in Macao is coming back to bite the U.S. casino industry in … Continue reading →

Posted in Atlantic City, CityCenter, Detroit, Illinois, Macau, Mississippi, Pansy Ho, Pennsylvania, Regulation, Sheldon Adelson, Stanley Ho, The Mob | 5 Comments

$290 million for Borgata

Posted on March 29, 2010 by David McKee

That’s what MGM Mirage’s half is expected to bring and it won’t happen until next year, according to J.P. Morgan‘s latest set of estimates. We could debate whether or not MGM should have started shopping the place a year ago, … Continue reading →

Posted in Atlantic City, Boyd Gaming, Current, Economy, Harrah's, International, Macau, MGM Mirage, Pansy Ho, Regulation, Station Casinos, The Strip, Tourism, Tropicana Entertainment, Wall Street | Comments Off on $290 million for Borgata

MGM & Stanley Ho: The consequences of desperation

Posted on March 23, 2010 by David McKee

Contrary to the confident prediction of Las Vegas Review-Journal Publisher Sherman Frederick, the ramifications of the report of the New Jersey Division of Gaming Enforcement on the relationship between MGM Mirage, Pansy Ho and father Stanley Ho have been as … Continue reading →

Posted in Atlantic City, Boyd Gaming, International, Macau, MGM Mirage, Pansy Ho, Regulation, Stanley Ho, Wall Street | 1 Comment

Quote of the Day

Posted on March 23, 2010 by David McKee

“There’s a misperception out there that we bust up companies. Or that I believe that all people on boards are bad. It’s just that, in some cases, the C.E.O.’s are so wrong.” — Tropicana Entertainment owner Carl Icahn, in a … Continue reading →

Posted in Atlantic City, Carl Icahn, Current, Downtown, Goldman Sachs, Tropicana Entertainment, Wall Street | 2 Comments

Quote of the Day

Posted on March 22, 2010 by David McKee

“For two days in a row, the [American Gaming Association] Internet site that aggregates gaming industry stories has totally ignored all of the stories about the [New Jersey Division of Gaming Enforcement] report on the relationship between MGM Mirage and … Continue reading →

Posted in Atlantic City, Current, G2E, Macau, MGM Mirage, Pansy Ho, Regulation, Stanley Ho | Comments Off on Quote of the Day

A Cosmopolitan by any other name …

Posted on March 22, 2010 by David McKee

… is still a long way from completion. A silly lawsuit has been settled, an extremely cosmetic change of name has been agreed upon (meaning that Cosmo The Casino is the de facto winner over Cosmo The Mag). We’re told … Continue reading →

Posted in Architecture, Atlantic City, Boyd Gaming, CityCenter, Cosmopolitan, Current, Dining, Entertainment, MGM Mirage, Planet Hollywood, Politics, Station Casinos | 3 Comments

This just in: Stanley Ho is mobbed up

Posted on March 17, 2010 by David McKee

Yeah, I know … no shit, Sherlock. With the notable exception of the Las Vegas Business Press‘ Matt Ward, precious few journalists have been willing to come forward and report what everybody’s tacitly agreed, ever since the Macanese casino market … Continue reading →

Posted in Atlantic City, Current, International, Macau, MGM Mirage, Pansy Ho, Regulation, Stanley Ho, The Mob | 3 Comments

Who’s crazier: Adelson or Florida?

Posted on March 12, 2010 by David McKee

Pay no attention to the over-budget, behind-schedule megaresort in the background. Six casinos at $2 billion apiece. No joking, that’s what a Sheldon Adelson flunky is proposing in Florida. (I guess the white-out of Atlantic City isn’t the only snow … Continue reading →

Posted in Atlantic City, Current, Economy, Macau, Pennsylvania, Politics, Sheldon Adelson, Singapore, Taxes, The Strip | 4 Comments

White-out in Atlantic City

Posted on March 11, 2010 by David McKee

Thirty-seven inches of snow in February was a problem Atlantic City could do very well without. While the white stuff takes some of the edge off the sobering realization that the Boardwalk is -34% since February 2006, you know the … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Colony Capital, Columbia Sussex, Current, Donald Trump, Economy, Harrah's, MGM Mirage, Pennsylvania, Tropicana Entertainment | Comments Off on White-out in Atlantic City

Pennsylvania: Give Adelson a break; Harrah’s latest excuses

Posted on March 9, 2010 by David McKee

While principle dictates that Las Vegas Sands ought to be held to the terms of its agreement with the State of Pennsylvania, recent developments give one pause. Namely, why should Steve Wynn get favorable treatment enjoyed by no other casino … Continue reading →

Posted in Atlantic City, Boyd Gaming, Columbia Sussex, Economy, George Maloof, Harrah's, Illinois, Louisiana, Neil Bluhm, Pennsylvania, Politics, Regulation, Sheldon Adelson, Station Casinos, Steve Wynn, Tribal, Wall Street | 3 Comments

Quote of the Day

Posted on March 9, 2010 by David McKee

“There will undoubtedly be tough sledding ahead for Atlantic City, especially in light of the increasing competition from neighboring states. However, I believe that Atlantic City, with its beautiful beaches, can again become a premier destination resort.” — Carl Icahn, … Continue reading →

Posted in Atlantic City, Carl Icahn, Columbia Sussex, Current, Economy, Regulation, Tropicana Entertainment | 3 Comments