Category Archives: Atlantic City

Atlantic City Death Watch II; Banquo's Ghost

Posted on November 22, 2008 by David McKee

Wow, I never thought we’d have our second installment so hard upon the first. But no sooner had S&G ticketed Resorts Atlantic City for a visit to Intensive Care comes word that it’s going to miss a $10 million loan … Continue reading →

Posted in Atlantic City, Colony Capital, Columbia Sussex, MGM Mirage, Regulation, Steve Wynn, The Strip, Tropicana Entertainment | Comments Off on Atlantic City Death Watch II; Banquo's Ghost

Atlantic City Death Watch

Posted on November 21, 2008 by David McKee

New Jersey's Casino Control Commission has come out with a grim set of numbers regarding gross operating profitability in Atlantic City's casinos during 3Q08. And, as bad as these numbers sound, once the cost of operation is subtracted, a $121 … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colony Capital, Donald Trump, Economy, Harrah's, Station Casinos, Tropicana Entertainment | Comments Off on Atlantic City Death Watch

Where do we go from here?

Posted on November 18, 2008 by David McKee

Let's say, for purposes of argument, that the casino industry has supped full on meta-megaresort development and needs several years to digest the feast. What then? The answer, to judge by yesterday's G2E panel of design, construction and development experts, … Continue reading →

Posted in Architecture, Atlantic City, Economy, G2E, Harrah's, MGM Mirage, Wall Street | Comments Off on Where do we go from here?

Butera up to old tricks; Dog days for Ruffin; Fowl play

Posted on November 17, 2008 by David McKee

Grasping at straws in his attempt to wrest control of the Tropicana Casino & Resort back from the New Jersey Casino Control Commission, the CEO of Tropicana Entertainment, Scott Butera, has seized upon a letter from state Sen. Richard Codey. … Continue reading →

Posted in Atlantic City, Columbia Sussex, G2E, Harrah's, Kansas, Marketing, Mississippi, Regulation, Tropicana Entertainment | Comments Off on Butera up to old tricks; Dog days for Ruffin; Fowl play

Quote of the Day

Posted on November 12, 2008 by David McKee

"I was ahead of the curve." — Columbia Sussex CEO William J. Yung, taking credit for being the first casino owner in Atlantic City to engage in massive layoffs and service reductions.

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Gaming bosses step up

Posted on November 7, 2008 by David McKee

While some casino companies we won’t name (coughBoyd Gamingcough) are responding this week to the bad economy with downsizing their workforce, others are setting a nobler example. Executives at both Isle of Capri Casinos and Trump Entertainment Resorts are literally … Continue reading →

Posted in Atlantic City, Boyd Gaming, Isle of Capri, MGM Mirage, Sheldon Adelson, TV | Comments Off on Gaming bosses step up

Winners & Losers

Posted on November 5, 2008 by David McKee

And now the obligatory post-Election, What’s-it-all-about-Alfie roundup … Culinary Union 1, Casino CEOs O: True, the Culinary tripped all over its own feet in the early going, leading to Democratic caucuses that weren’t so much “Barackular” as “debacular.” But D. … Continue reading →

Posted in Alaska, Ameristar, Atlantic City, California, Colorado, Current, Donald Trump, Economy, Election, Florida, Gary Goett, Harrah's, IGT, Internet gambling, MGM Mirage, Mississippi, Missouri, Pinnacle Entertainment, Politics, Sheldon Adelson, Steve Wynn, Taxes, The Strip, Tribal, Wall Street | Comments Off on Winners & Losers

Missouri amendment to pass: JP Morgan

Posted on November 3, 2008 by David McKee

Analysts at JP Morgan like the chances for a Missouri constitutional amendment largely bankrolled by Ameristar Casinos and Pinnacle Entertainment. While Ameristar stands to benefit in tangible ways, JP Morgan focuses on what it could for Pinnacle: a 15% increase … Continue reading →

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Wisdom from Wall Street

Posted on October 30, 2008 by David McKee

"Any gaming operator that postpones spending and preserves capital in this environment should be rewarded, in our view." — Stifel Nicolaus & Co. analyst Steven Wieczynski, reacting to news that MGM Mirage had put its Atlantic City and north-Strip projects … Continue reading →

Posted in Atlantic City, Boyd Gaming, MGM Mirage, Movies, Pennsylvania, Sheldon Adelson, The Strip, Wall Street | Comments Off on Wisdom from Wall Street

Is Peter Carlino crazy?

Posted on October 24, 2008 by David McKee

Now I know that Penn National is all a-flush with cash these days and CEO Peter Carlino is probably feeling bullish. Still, in a recent visit to Vegas to assess possible casino acquisitions, he's alleged to have acted like he … Continue reading →

Posted in Atlantic City, Downtown, Harrah's, MGM Mirage, Penn National, Riviera, Sahara, Steve Wynn, Tamares Group, The Strip, Tropicana Entertainment | Comments Off on Is Peter Carlino crazy?

Butera to NJCCC: Your people are dopes

Posted on October 23, 2008 by David McKee

Tropicana Entertainment has formally petitioned the New Jersey Casino Control Commission for the return of its former Atlantic City casino. Oh, to be in the room when the arguments are thrashed out! Short of conducting an exorcism of the spirit … Continue reading →

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Up in smoke

Posted on October 14, 2008 by David McKee

Few issues involving the casino industry cause such a conflict between intellect and emotion as that of second-hand smoke. Personally, I think even manure is less offensive to the nostrils than cigarette smoke — and it has fewer carcinogenic side … Continue reading →

Posted in Atlantic City, Colorado, Environment, Harrah's, Illinois, Regulation, Sheldon Adelson, The Strip | Comments Off on Up in smoke

… or not

Posted on October 10, 2008 by David McKee

I’ve been informed that Tropicana Entertainment owner William J. Yung III has signed an irrevocable proxy and cannot vote his shares, no matter how many he owns. Nor he can he regain the reins of the company. Whether that is … Continue reading →

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He's baaaaaaaaaack!

Posted on October 10, 2008 by David McKee

Score one for Columbia Sussex CEO William J. Yung III. The New Jersey Supreme Court will hear his appeal of the New Jersey Casino Control Commission's revocation of his license, even though a lower court booted it, 3-0. ColSux has … Continue reading →

Posted in Atlantic City, Columbia Sussex, Tropicana Entertainment | Comments Off on He's baaaaaaaaaack!

Quote of the Day

Posted on October 10, 2008 by David McKee

“It really wasn’t about a quarter. It was really a matter of understanding the slot payout tables.” — Boyd Gaming spokesman Rob Stillwell, on the subject of a 25-cent dispute that began at The Orleans and ended in front of … Continue reading →

Posted in Atlantic City, Boyd Gaming, Current, Labor, Regulation | Comments Off on Quote of the Day

Trop this!

Posted on October 9, 2008 by David McKee

The fourth time’s the charm — at least if you’re Justice Gary Stein, the tortoise-powered conservator of the Atlantic City Tropicana. Having prolonged the timeline for selling the mammoth hotel-casino three times already, he’s asking the state for a fourth … Continue reading →

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A.C. casino workers dissed (again)

Posted on October 6, 2008 by David McKee

Representative democracy seems to be too radical a concept for the New Jersey state senate's Wagering, Tourism & Historic Preservation Committe to enwrap within its parochial minds. It's sent back for redrafting a bill that would allow Atlantic City casino … Continue reading →

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Happy anniversary, you're fired

Posted on October 6, 2008 by David McKee

That was essentially the message conveyed to several dozen workers at MGM Grand Detroit as the hotel-casino passed its first anniversary. Such cutbacks are usually routine in the industry and this one affected but a fraction of a percentage of … Continue reading →

Posted in Atlantic City, Boyd Gaming, Detroit, Gary Goett, Harrah's, MGM Mirage, Tribal, Wall Street | Comments Off on Happy anniversary, you're fired

Still more Trop follies

Posted on October 3, 2008 by David McKee

Just when I was ready to get behind Tropicana Entertainment CEO Scott Butera's quest to reclaim the company's eponymous Atlantic City casino, he goes off his meds, so to speak. He blustered that "Our creditors, our employees and our neighbors … Continue reading →

Posted in Atlantic City, Columbia Sussex, Regulation, Tropicana Entertainment | Comments Off on Still more Trop follies

Lipstick on a pig

Posted on September 30, 2008 by David McKee

That’s how Atlantic City Tropicana conservator Justice Gary Stein is trying to pass off a deal that continues to make a loud “Oink!” He’s trying to spin the media that his $700 million agreement with Cordish Co. is really an … Continue reading →

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