Category Archives: Atlantic City

Earth to Colony Capital

Posted on February 23, 2009 by David McKee

"If I had a crystal ball two years ago, I would never have taken on that debt. Never, ever. But looking back, we saw growth. That's why we put up that beautiful new tower, with a plan to do extensive … Continue reading →

Posted in Atlantic City, Colony Capital, Economy, Pennsylvania | Comments Off on Earth to Colony Capital

Gibbons retreats, sorta

Posted on February 23, 2009 by David McKee

Gov. Jim Gibbons has scuttled away from one of his several proposals to jack up taxes on the only segment of Nevada that's carrying its own weight — the casino bidness. He's retreating from a demand that casinos pay taxes … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, Colony Capital, Columbia Sussex, Donald Trump, Downtown, Economy, M Resort, Marketing, Mesquite, Movies, Politics, Station Casinos, Taxes, TV, Wall Street | Comments Off on Gibbons retreats, sorta

Trump: The end

Posted on February 21, 2009 by David McKee

So Trump Entertainment Resorts has such little worth that it’s facing delisting, having become quite literally a penny stock. In a move described as “petulant,” not only is Donald Trump taking his ball and going home, he wants the name … Continue reading →

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How desperate is Scott Butera?

Posted on February 19, 2009 by David McKee

Perhaps sensing that the Tropicana Atlantic City is slipping irretrievably from his grasp, Tropicana Entertainment CEO Scott Butera has taken his case to the media — seeking an audience with the editorial board of The Press of Atlantic City, no … Continue reading →

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Trop's agony soon to end?

Posted on February 18, 2009 by David McKee

The bad news is that the New Jersey Casino Control Commission has voted to grant yet another extension on the interminable sale of the Tropicana Atlantic City. The good news that it’s merely been pushed out another month, not the … Continue reading →

Posted in Atlantic City, Boulder Strip, Carl Icahn, Columbia Sussex, Donald Trump, Pinnacle Entertainment, Regulation, Tropicana Entertainment, Wall Street | Comments Off on Trop's agony soon to end?

Looking for good news in Vegas

Posted on February 12, 2009 by David McKee

If I wanted to drive myself to strong drink, I could write about depressing, atrocious numbers coming out of Nevada casinos in December. But as that great philosopher, Linus in Peanuts, would remind me, it's better to light a single … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, Downtown, Economy, Gary Goett, George Maloof, Harrah's, Laughlin, MGM Mirage, Michael Gaughan, Morgans Hotel Group, Station Casinos, Tamares Group, Texas, The Strip, Tilman Fertitta, Tribal, Wall Street | Comments Off on Looking for good news in Vegas

Boardwalk bummer

Posted on February 10, 2009 by David McKee

In short, January's Atlantic City revenue numbers are -9% at the tables and -10% in slots. The glass-half-empty spin is that this is the third straight year of decline. The glass-half-full perspective would be, yes, but it's -9% the fifth-highest … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colony Capital, Donald Trump, Economy, Harrah's, Tropicana Entertainment | Comments Off on Boardwalk bummer

Mixed message from Penn

Posted on February 6, 2009 by David McKee

Having pulled the plug on his latest Atlantic City venture, Penn National CEO Peter Carlino served the city a heaping plate of gloom with a side dish of pessimism. In fact, he pretty much slammed the door on the besieged … Continue reading →

Posted in Atlantic City, Colony Capital, Donald Trump, Economy, Harrah's, MGM Mirage, Penn National, Pennsylvania, Pinnacle Entertainment, Tropicana Entertainment | Comments Off on Mixed message from Penn

Case Bets: Seminoles, Tropicana, Shuffle Master, Stanley Ho

Posted on February 3, 2009 by David McKee

Seminoles offer to lay $288 million and 12,000 new jobs on the table, for starters. Sunshine State Republicans blow them a raspberry. Constitutional or not, Gov. Charlie Crist‘s compact put a good deal in place for both sides. (It wasn’t … Continue reading →

Posted in Aristocrat, Atlantic City, Australia, Columbia Sussex, Florida, Politics, Regulation, Shuffle Master, Stanley Ho, The Strip, Tribal, Tropicana Entertainment | Comments Off on Case Bets: Seminoles, Tropicana, Shuffle Master, Stanley Ho

Head-scratcher at Shuffle Master

Posted on February 2, 2009 by David McKee

Come March 15, Shuffle Master CEO Mark Yoseloff finally gets to leave the company — something he’s wanted to do for a while but which has been stymied by the difficulty of replacing him. Just how difficult was it? So … Continue reading →

Posted in Aristocrat, Atlantic City, Australia, Regulation, Technology, Tropicana Entertainment | Comments Off on Head-scratcher at Shuffle Master

Atlantic City: Two strikes, no balls

Posted on January 29, 2009 by David McKee

This was originally going to be “Death Watch VI” but three of those in a week is positively ghoulish. So, on to the latest disheartening developments from Atlantic City, the casino market that just can’t catch a break. Cease the … Continue reading →

Posted in Atlantic City, Columbia Sussex, Economy, Harrah's, Penn National, Pennsylvania, Pinnacle Entertainment, Regulation, Tropicana Entertainment, Wall Street | Comments Off on Atlantic City: Two strikes, no balls

Atlantic City Death Watch V

Posted on January 26, 2009 by David McKee

Joys, Shakespeare famously wrote, come as solitary spies while griefs arrive by the battalion. So it is with Atlantic City, where the bad news washes up along the Boardwalk in bunches. If you picked Resorts Atlantic City as the Casino … Continue reading →

Posted in Atlantic City, Boyd Gaming, Cannery Casino Resorts, Colony Capital, Donald Trump, Economy, Harrah's, Pinnacle Entertainment | Comments Off on Atlantic City Death Watch V

From A(ztar) to Z(ilch)

Posted on January 13, 2009 by David McKee

If Tropicana Entertainment management's bankruptcy plan is accepted by the courts (one bond analyst thinks otherwise), former CEO/sole owner William J. Yung III will be left with — what's the technical term? — diddly squat. (So will his unsecured creditors, … Continue reading →

Posted in Atlantic City, Columbia Sussex, Economy, Indiana, Lake Tahoe, Laughlin, Louisiana, Marketing, Mississippi, Penn National, Pinnacle Entertainment, Regulation, The Strip, Tropicana Entertainment, Wall Street | Comments Off on From A(ztar) to Z(ilch)

Atlantic City Death Watch III

Posted on December 30, 2008 by David McKee

It's business as usual at the Atlantic City Hilton tomorrow night. Only "private parties" to mark the New Year. "It's indicative of a very dire situation," says one industry veteran.

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Pinnacle's Bahamas debacle

Posted on December 19, 2008 by David McKee

It wasn’t so long ago that Pinnacle Entertainment was the fair-haired boy of the casino industry, especially after it hit a home run in the Lake Charles, La., market with tony L’Auberge du Lac. Then it nearly followed Columbia Sussex … Continue reading →

Posted in Atlantic City, Columbia Sussex, Harrah's, International, Isle of Capri, James Packer, Pinnacle Entertainment, Planet Hollywood, The Strip, TV | Comments Off on Pinnacle's Bahamas debacle

Next up: Gladiators, orgies & bear-baiting

Posted on December 19, 2008 by David McKee

“In Atlantic City, whose casinos saw revenue decline by 8 percent last month compared with the same period last year, the Tropicana staged its own version of Pamplona’s Running of the Bulls on Saturday — participants dressed as Santa Claus … Continue reading →

Posted in Atlantic City, Columbia Sussex, Tropicana Entertainment | Comments Off on Next up: Gladiators, orgies & bear-baiting

What'$ in a name?

Posted on December 10, 2008 by David McKee

A reader recently enquired as to what became of the plan to re-name Harrah's Entertainment as Caesars Entertainment. When I asked Harrah's as to whether that was still on, no response was forthcoming. My questioner wanted to know, "Do you … Continue reading →

Posted in Atlantic City, Boyd Gaming, Detroit, Economy, Harrah's, Herbst Gaming, Indiana, Marketing, MGM Mirage, Sheldon Adelson, The Strip | Comments Off on What'$ in a name?

Quote of the Day

Posted on November 26, 2008 by David McKee

"The massive staff layoffs, the turnover in senior management accompanied by their replacement with personnel with less extensive casino management experience, the cleanliness crisis experienced in the late winter-spring 2007, the regulatory violations directly related to inadequate staffing, and the … Continue reading →

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Case Bets: Hooters; Defection at Borgata; Yung vs. Butera

Posted on November 25, 2008 by David McKee

"All of the economists who gave us information predict 2007 is going to be a year where the economy slows throughout the country and Nevada. Then we will see a pickup in 2008-09." — Deborah Pierce, CFO, Hooters Hotel, Las … Continue reading →

Posted in Atlantic City, Boyd Gaming, Columbia Sussex, Economy, International, Regulation, Tropicana Entertainment | Comments Off on Case Bets: Hooters; Defection at Borgata; Yung vs. Butera

Quote of the Day

Posted on November 22, 2008 by David McKee

“If they don't [know how], it strikes me that they lack sufficient business judgment to be in the industry in the first place.” — New Jersey Supreme Court Justice Roberto Rivera-Soto on Columbia Sussex's inability to form an independent audit … Continue reading →

Posted in Atlantic City, Columbia Sussex, Regulation, Tropicana Entertainment | Comments Off on Quote of the Day