Category Archives: Atlantic City

Solving the Pansy Problem

Posted on May 20, 2009 by David McKee

Amidst today's crush of news, I forgot at least one other potential solution to l'affaire Pansy. Perhaps MGM Mirage can have its cake and eat it as well, by taking a page from Sheldon Adelson's playbook. It'd be a transparent … Continue reading →

Posted in Atlantic City, Columbia Sussex, MGM Mirage, Politics, Regulation, Sheldon Adelson, Stanley Ho | Comments Off

The MGM/Pansy Ho verdict: It's in and it's bad

Posted on May 19, 2009 by David McKee

After nearly four years of investigation, the New Jersey Division of Gaming Enforcement has released its long-awaited “suitability” findings on MGM Mirage joint-venture partner Pansy Ho. As MGM itself reported to the SEC yesterday, “While the report itself is confidential, … Continue reading →

Posted in Atlantic City, Boyd Gaming, Columbia Sussex, Cosmopolitan, Current, Fontainebleau, Harrah's, Macau, MGM Mirage, Planet Hollywood, Regulation, Stanley Ho, The Strip, Tropicana Entertainment, Wall Street | Comments Off

(Slots A) Fun Fact

Posted on May 15, 2009 by David McKee

I've just read that the 2008 cash flow for Slots A Fun, the crown jewel of what used to be Circus Circus Enterprises, was $2.8 million. Which means that current owner MGM Mirage could justify a sale price of $22.5 … Continue reading →

Posted in Atlantic City, Boyd Gaming, Cirque du Soleil, Colony Capital, Don Barden, Marketing, MGM Mirage, Penn National, Politics, The Strip, Transportation, TV | Comments Off

Perp Show

Posted on May 14, 2009 by David McKee

If you're bald, weight 285 lbs. and have one arm in a cast, you're not exactly inconspicuous. So how was it that that such a hefty man was to infiltrate a VIP area of Planet Hollywood and bust into Peepshow … Continue reading →

Posted in Atlantic City, Boyd Gaming, Cirque du Soleil, Colony Capital, Current, Donald Trump, Economy, Election, Entertainment, Fontainebleau, Harrah's, MGM Mirage, Planet Hollywood, Politics, Regulation, Taxes, The Strip, Tropicana Entertainment | Comments Off

Harrah's takes out the garbage; Yemenidjian's return

Posted on May 5, 2009 by David McKee

Congratulations — I think — to new Harrah's Entertainment General Counsel Timothy R. Donovan. A graduate of The Ohio State University, Mr. Donovan comes to Harrah's by way of the garbage industry. Considering that picking up the trash around Harrah's … Continue reading →

Posted in Alex Yemenidjian, Atlantic City, Current, Harrah's, Indiana, Regulation, The Strip, Tropicana Entertainment | Comments Off

Chump change for Trop

Posted on April 29, 2009 by David McKee

While there has been no shortage of bad decisions in the casino industry of late, the Dunce of the Year winner for 2008 and presumptive favorite for 2009 has got to be Tropicana Atlantic City conservator Gary Stein. This former … Continue reading →

Posted in Atlantic City, Colony Capital, Cordish Co., Donald Trump, Economy, Regulation, Tropicana Entertainment | Comments Off

Case Bets: Isle exits U.K.; no room at the Trop; Carlino channels Astaire, etc.

Posted on April 24, 2009 by David McKee

Isle of Capri Casinos is coming up for air, literally extricating itself from underneath Ricoh Stadium in Coventry, U.K. As part of CEO James Perry‘s attempt to refocus a company that spread itself too thin under his predecessor, he’s walking … Continue reading →

Posted in Atlantic City, California, Colony Capital, Columbia Sussex, Current, Detroit, Economy, Florida, Goldman Sachs, Illinois, International, Isle of Capri, MGM Mirage, Penn National, Regulation, The Strip, Tropicana Entertainment, Wall Street | Comments Off

Pinnacle: the untold story

Posted on April 21, 2009 by David McKee

Is waxing and buffing the Pinnacle Entertainment limo a prerequisite for scoring an interview with its CEO? This small masterpiece of selective omission is more interesting for what it elides than what it says. The article parrots Dan Lee as … Continue reading →

Posted in Alex Yemenidjian, Ameristar, Atlantic City, Carl Icahn, Columbia Sussex, Entertainment, Harrah's, Illinois, Louisiana, MGM Mirage, Missouri, Pinnacle Entertainment, The Strip, Tropicana Entertainment | Comments Off

Exit, pursued by a bear market

Posted on April 17, 2009 by David McKee

Aside from the occasional murmur by Wynn Las Vegas prexy Andrew Pascal, executives at Wynn Resorts keep a low (read: invisible) profile. Even the most assiduous follower of the casino industry would have trouble naming Wynn’s CFO off the cuff. … Continue reading →

Posted in Atlantic City, Boyd Gaming, Economy, Encore, Harrah's, IGT, Illinois, Macau, MGM Mirage, Pinnacle Entertainment, Sheldon Adelson, Steve Wynn, The Strip, Wall Street | Comments Off

MGM Mirage sells family jewels

Posted on April 6, 2009 by David McKee

Desperation has well and truly hit the fan at MGM Mirage. The company’s Strip casinos may not be priced to move … but it’s said to be quite a different story where MGM Grand Detroit and Beau Rivage are concerned. … Continue reading →

Posted in Atlantic City, Colony Capital, Current, Detroit, Economy, Illinois, James Packer, Macau, MGM Mirage, Phil Ruffin, Sheldon Adelson, Stanley Ho, The Strip, Wall Street | Comments Off

Leper Colony

Posted on April 3, 2009 by David McKee

Or, in lieu of "Atlantic City Death Watch VII," maybe "Colony Death Watch." Scarcely had S&G dubbed Colony Capital's East Coast casino portfolio "Colony Crapital" than came affirmation in the form of the latest set of numbers from the Boardwalk. … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colony Capital, Donald Trump, Economy, Harrah's, James Packer, MGM Mirage, Steve Wynn | Comments Off

Adelson in the details

Posted on April 3, 2009 by David McKee

Nearly lost amidst a flurry of news stories about Las Vegas Sands hoping to jump-start construction on its stalled Cotai Strip™ (with the help of new equity partners) was this snippet from Sands' president of Asian affairs, Stephen Weaver. Rents … Continue reading →

Posted in Atlantic City, Carl Icahn, Columbia Sussex, Macau, Regulation, Sheldon Adelson, Singapore, Wall Street | Comments Off

The end of Viva

Posted on April 2, 2009 by David McKee

That’s one of the implications of Colony Capital‘s potential cash infusion into CityCenter. Since Colony owns 3/4 of Station Casinos and might find itself with a big piece of CityCenter, it’s an utter certainty that it wouldn’t go along with … Continue reading →

Posted in Atlantic City, Colony Capital, Goldman Sachs, International, MGM Mirage, Sports, The Strip | Comments Off

Trop snoozes, loses

Posted on March 26, 2009 by David McKee

Like a hot potato, the Tropicana Las Vegas continues to bounce from Columbia Sussex to Tropicana Entertainment and now maybe into the hands of Alex Yemenidjian. (This management-contract arrangement looks more like laying the groundwork for a sale … if … Continue reading →

Posted in Alex Yemenidjian, Architecture, Atlantic City, Columbia Sussex, Current, Economy, Entertainment, Harrah's, Indiana, Marketing, Technology, The Strip, Tropicana Entertainment, Wall Street | Comments Off

Casino commercial of the year

Posted on March 4, 2009 by David McKee

Although Sheldon Adelson‘s taunting of the president may have seemed very clever at the time, the joke might be on the mogul. Check out this inspired TV spot, dreamt up for the grand opening of the permanent racino at Indiana … Continue reading →

Posted in Atlantic City, Columbia Sussex, Economy, Indiana, Marketing, Sheldon Adelson | Comments Off

Harrah's new Atlantic City pitch

Posted on March 4, 2009 by David McKee

Two minutes of Asian American-oriented marketing messages, all of which boil down to, “Atlantic City: It’s not just for gambling anymore.” Lots of Total Rewards pluggery, as you’d expect, but oddly no mention of the new ACES train, of which … Continue reading →

Posted in Atlantic City, Boyd Gaming, Harrah's, Marketing | Comments Off

Comp cutbacks in Atlantic City

Posted on March 3, 2009 by David McKee

Last week, the Press of Atlantic City reported a 5% drop in comping along the Boardwalk and Marina District. However, the story played it as merely a reflection of decreased business in Atlantic City. Yesterday, however, The Associated Press weighed … Continue reading →

Posted in Atlantic City, Colony Capital, Donald Trump, Economy, Harrah's | Comments Off

Strike at the Trop

Posted on March 2, 2009 by David McKee

Posted in Atlantic City, Columbia Sussex, Harrah's, Regulation, Tropicana Entertainment | Comments Off

Boyd vs. Station II

Posted on February 26, 2009 by David McKee

Well, that was a waste of a good hour. Boyd Gaming teased its Thursday morning conference call with intimations that All (or at least Some) Would Be Revealed about its surprise bid for most of the assets of Station Casinos. … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, Downtown, Economy, Florida, Harrah's, Indiana, Louisiana, Station Casinos, The Strip, Tribal, Wall Street | Comments Off

Quote of the Day

Posted on February 24, 2009 by David McKee

"[Columbia Sussex CEO William J.] Yung showed a callous disregard both for New Jersey casino auditing regulations and for the requirement that any Atlantic City casino be a 'first-class facility of exceptional quality.' "But if the restructured Tropicana Entertainment can … Continue reading →

Posted in Atlantic City, Columbia Sussex, Regulation, Tropicana Entertainment | Comments Off