Category Archives: Atlantic City

Scant interest in A.C. Trop

Posted on March 18, 2008 by David McKee

So the deadline for bids on the Atlantic City Tropicana has come and gone, and there are only three bids on the table. Or maybe two. Though I may have a dollar figure on the Cordish Cos. offer later today, … Continue reading →

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A.C. Trop to go begging?

Posted on March 17, 2008 by David McKee

You have to wonder after reading this story, which suggests that — out of a field of two-dozen potential suitors for the Atlantic City Tropicana — virtually everyone is heading for the tall grass. Or maybe it's an en masse … Continue reading →

Posted in Ameristar, Atlantic City, Columbia Sussex, Harrah's, MGM Mirage, Pinnacle Entertainment | Comments Off on A.C. Trop to go begging?

This week in Columbia Sussex

Posted on March 11, 2008 by David McKee

"Things are a little murky." That's how the Cincinnati Enquirer describes the Did-he-or-didn't-he issue of whether Kentucky Gov. Steve Beshear met with million-dollar booster and Columbia Sussex CEO William Yung III, whose desire for a Cincinnati-area casino is the worst-kept … Continue reading →

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Atlantic City, the glass half-full

Posted on March 10, 2008 by David McKee

Normally a 1.5% jump in casino revenue wouldn’t be cause for dancing in the streets and maybe today’s numbers aren’t reason to get carried away. Given that there’s a quadrennial aberration (i.e., Feb. 29) in play, the +0.1% in slot … Continue reading →

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Desperation in Florida

Posted on March 5, 2008 by David McKee

Is Isle of Capri‘s racino a disappointment (especially for horsemen)? Is Boyd Gaming taking Florida expansion off the table? Is Magna Entertainment threatening to close overextended Gulfstream Park? What’s a Florida lawmaker to do? Why, legalize every form of gambling … Continue reading →

Posted in Atlantic City, Boyd Gaming, Florida, Horseracing, MGM Mirage, Penn National, Pinnacle Entertainment, Politics, Tribal | Comments Off on Desperation in Florida

Isle: Goldstein out, Perry in; Trump pummeled

Posted on March 5, 2008 by David McKee

Isle of Capri Casinos announced widening Y/Y losses today, along with the retirement of CEO Bernard Goldstein after 16 years at the helm. He gives way to board member James Perry, former CEO of Argosy Gaming and (briefly) Trump Entertainment. … Continue reading →

Posted in Atlantic City, Columbia Sussex, Donald Trump, Iowa, Isle of Capri, Louisiana, Marketing, Mississippi, Penn National, Pennsylvania, Singapore, Wall Street | 1 Comment

Columbia Sussex strikes back

Posted on March 5, 2008 by David McKee

This could become a Hammer Studios-esque series of updates. Just contemplate the possible titles: The Curse of Columbia Sussex, Columbia Sussex Has Risen from the Grave, Taste the Blood of Columbia Sussex, Columbia Sussex and the Monster from Hell, Columbia Sussex … Continue reading →

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'Terrible' timing

Posted on March 3, 2008 by David McKee

By golly, it seems like a mere nine days ago that a local newspaper story was reporting disproportionately strong lottery sales at a California-border store owned by Herbst Gaming. "Since taking over the store, the location's total lottery ticket sales have … Continue reading →

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Racinos a bum deal?

Posted on February 25, 2008 by David McKee

They are if you’re a horse owner at The Isle Casino & Racing @ Pompano Park, which not only left trainers and owners out in the cold, as far as slot revenues are concerned, it just slashed purse amounts by … Continue reading →

Posted in Atlantic City, Columbia Sussex, Florida, Horseracing, Kentucky, Politics, Sports, Tribal | Comments Off on Racinos a bum deal?

Labor troubles at Station, Trop

Posted on February 19, 2008 by David McKee

Ever since the Las Vegas Business Press was made subordinate to the business desk of the Las Vegas Review-Journal, the latter had ‘dibs’ on any of the former’s stories it coveted — or so it was explained to me at … Continue reading →

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That other Trop letter

Posted on February 14, 2008 by David McKee

S&G has obtained a copy of the 15-page complaint letter from the National Environmental Health Association to management of the Atlantic City Tropicana, alleging substandard conditions and service at the hotel-casino. Excerpts from this letter pretty much convicted the Tropicana … Continue reading →

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A.C. Tropicana: let the bidding begin!

Posted on February 8, 2008 by David McKee

Justice Gary Stein, conservator of the Atlantic City Tropicana, has set Feb. 18 as the kickoff date for the formal bidding process. Although only two cash offers are on the table so far, Stein — with assistance of Bear Stearns … Continue reading →

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@#*& hits the Columbia Sussex fan

Posted on January 30, 2008 by David McKee

Those intimations of insolvency at the Las Vegas Tropicana are now swelling into full-blown accusations [second item] leveled at Columbia Sussex HQ in a $960 million lawsuit. And not just any old insolvent but “deeply insolvent.” Whatever detente CEO William J. … Continue reading →

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Case Bets: So long, HET … and plenty more

Posted on January 28, 2008 by David McKee

According to Bear Stearns, the privatization of Harrah’s Entertainment closed on schedule. HET stock finished trading just three cents shy of the $90/share buyout price. Voters in Miami-Dade County will be asked whether to allow

Posted in Atlantic City, Columbia Sussex, Election, Harrah's, Kansas, Laughlin, Sheldon Adelson | Comments Off on Case Bets: So long, HET … and plenty more

A Friend Indeed

Posted on January 3, 2008 by David McKee

William Yung III doesn’t deserve friends like UNLV’s David Schwartz. He really, truly doesn’t. I mean, we’re talking about an exec who, as Schwartz writes, “seems to have brilliantly alienated most of the New Jersey gaming community.” Who else but … Continue reading →

Posted in Architecture, Atlantic City, Columbia Sussex, Regulation, Sheldon Adelson | Comments Off on A Friend Indeed