Category Archives: Caesars Entertainment

Chronicle of a disaster foretold

Posted on February 19, 2019 by David McKee

It’s time for Caesars Entertainment‘s quarterly earnings call and, by way of a preview, JP Morgan analyst Daniel Politzer took a relatively dim view of selling the company as a cure for whatever ails it. “While we understand activists’ rationale … Continue reading →

Posted in Atlantic City, Caesars Entertainment, Carl Icahn, Eldorado Resorts, Horseracing, International, Las Vegas Sands, MGM Resorts International, New Jersey, Politics, The Strip, Tilman Fertitta, Tropicana Entertainment, Wall Street, Wynn Resorts | 2 Comments

Caesars: The Icahn factor; Troubled Tilman; Brownout

Posted on February 18, 2019 by David McKee

If you’re a company that wants to prove that its stock is undervalued, you’ve got a definitive case when Carl Icahn buys into your company. And if you’re Caesars Entertainment and Icahn suddenly holds 10% of your stock, you’re officially … Continue reading →

Posted in Caesars Entertainment, Carl Icahn, Don Barden, Eldorado Resorts, International, Japan, Louisiana, Massachusetts, Mohegan Sun, Regulation, Security, Sheldon Adelson, South Korea, Taxes, Texas, Tilman Fertitta, Wall Street | Comments Off

Atlantic City: Ocean Resort stages a rally

Posted on February 15, 2019 by David McKee

Atlantic City is weathering the winter months about as well as can realistically be hoped. Same-store revenues were down 8% last month but up 9% overall. Ocean Resort ($12.5 million) actually crept past Bally’s ($12 million) and up on Resorts … Continue reading →

Posted in Atlantic City, Boyd Gaming, Bruce Deifik, Caesars Entertainment, Churchill Downs, Dan Gilbert, Detroit, Eldorado Resorts, Genting, Greenwood Racing, Hard Rock International, Internet gambling, Las Vegas Sands, MGM Resorts International, Mohegan Sun, New Jersey, New York, Penn National, Pennsylvania, Racinos, Rush Street Gaming, Sports betting, Tilman Fertitta | Comments Off

A change of heart on loco weed; Miller briefs Congress

Posted on February 11, 2019 by David McKee

In a development certain to make Nevada resort owners grind their teeth in envy, cannabis is predicted to be this year’s wellness trend. As you know, Nevada gaming regulators have hung a “Do Not Enter” sign on the recreational-marijuana industry … Continue reading →

Posted in Affinity Gaming, AGA, Architecture, Boyd Gaming, Caesars Entertainment, Economy, Eldorado Resorts, Geoff Freeman, history, Japan, Marijuana, Penn National, Politics, Regulation, Taxes | 2 Comments

Bluhm’s big push; Gary dissed; Oscar betting debuts

Posted on February 11, 2019 by David McKee

Neil Bluhm isn’t waiting like some blushing wallflower for the Massachusetts Gaming Commission to approve him for a casino in Brockton. He’s spent $430,000 on Beacon Hill to make his $700 million casino project in reality. To put that in … Continue reading →

Posted in Ameristar, Architecture, Caesars Entertainment, Cirque du Soleil, Economy, Entertainment, Genting, Indiana, Iowa, Law enforcement, Majestic Star, Massachusetts, Movies, Neil Bluhm, Penn National, Politics, Regulation, Rhode Island, Rush Street Gaming, Sports, Sports betting, The Strip, Tribal | Comments Off

Churchill Downs pwns Caesars; Kentucky covets casinos

Posted on February 8, 2019 by David McKee

Cold weather helped chill Indiana casino revenues last month, down 6%. The Hoosier State’s casinos and racinos grossed $154 million. Horseshoe Southern Indiana continues to bleed business to Churchill Downs‘ Derby City, hemorrhaging 10% to $16.5 million. Full House Resorts … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, DFS, e-sports, Eldorado Resorts, Full House Resorts, Indiana, Internet gambling, Kentucky, Macau, Marketing, Massachusetts, MGM Resorts International, New York, Penn National, Politics, Racinos, Sports, Sports betting, Taxes, Technology, Tilman Fertitta, Wall Street, Wynn Resorts | 1 Comment

Monorail to the rescue of Grand Bazaar; Golden Nugget on the block?

Posted on February 8, 2019 by David McKee

We thought the Las Vegas Monorail was the biggest charity case on the Las Vegas Strip. However, the Grand Bazaar Shops — where Strip retail finally jumped the shark — is apparently even worse off. We say this because of … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Dan Gilbert, Detroit, Dining, Eldorado Resorts, Macau, Marketing, Melco Resorts & Entertainment, MGM Resorts International, Ohio, Penn National, The Strip, Tilman Fertitta, Transportation, Wall Street, Wynn Resorts | 3 Comments

Maryland booms, Illinois frozen out; Resort fees to rise … again

Posted on February 7, 2019 by David McKee

Business continues to boom for MGM National Harbor, which raked in $57 million last month, 12% growth and 41% of the Free State’s $137 million gross gaming revenue. Maryland Live‘s 34% market share translated into a gross of $46 million. Horseshoe … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Colorado, Cordish Co., Detroit, Dining, Economy, Entertainment, GLPI, Golden Gaming, Illinois, Las Vegas Raiders, Louisiana, Maryland, MGM Resorts International, New Jersey, Penn National, Pennsylvania, Pinnacle Entertainment, Resort fees, Rush Street Gaming, Sports, Sports betting, The Strip, Wall Street, West Virginia | 1 Comment

So long, Total Rewards; MGM goes to Yonkers

Posted on February 1, 2019 by David McKee

Despite one less weekend day than 2017, December was good for the Las Vegas Strip. Visitation was up over 2% and room revenues leapt 16% to an average of $104/room. This was particularly impressive given a 23% decline in convention … Continue reading →

Posted in Caesars Entertainment, Economy, Harrah's, International, Internet gambling, Macau, Marketing, Massachusetts, MGM Resorts International, New York, Regulation, Sexual misconduct, Steve Wynn, Taxes, The Strip, Tourism, Transportation, Wynn Resorts | Comments Off

Wynn finishes strong

Posted on January 31, 2019 by David McKee

If Wynn Resorts wanted to change the subject of conversation, at least on Wall Street, away from the damning Nevada Gaming Control Board report on sexual harassment it found a magical elixir in its fourth-quarter report. Net revenue at Wynncore … Continue reading →

Posted in Caesars Entertainment, Economy, Las Vegas Sands, Macau, Massachusetts, Regulation, Tourism, Wall Street, Wynn Resorts | Comments Off

Aguilera to hit the Strip; Arizona mulls sports betting

Posted on January 29, 2019 by David McKee

It’s a big week for announcements at Caesars Entertainment. While I admit I’d completely forgotten who Christina Aguilera is, she’s got enough pop-culture cachet to justify a Las Vegas residency, starting May 31 at the Zappos Theater (an improvement on … Continue reading →

Posted in Arizona, Caesars Entertainment, Entertainment, history, International, Japan, Planet Hollywood, Sports betting, Taxes, The Strip, Tourism | Comments Off

Caesars diversifies; Crazy rich Asians

Posted on January 29, 2019 by David McKee

In another pure, non-gaming play, Caesars Entertainment has disclosed plans to build a hotel at Scottsdale Fashion Square, in Arizona. “The 11-story glass structure, with 266 guest rooms, will be called Caesars Republic Scottsdale and will be the company’s first … Continue reading →

Posted in Arizona, Caesars Entertainment, Entertainment, Lawrence Ho, Marketing, Movies, Palms, Pansy Ho, Stanley Ho, Station Casinos, Technology, Tourism | Comments Off

Survey says: Las Vegas bad for NFL; Power struggle in Macao

Posted on January 28, 2019 by David McKee

Put me in the one-third of Americans surveyed who wouldn’t give up their annual bonus to see their team win the Super Bowl. That’s one of the findings of a WalletHub study that, incredibly (at least to me) ranks Las … Continue reading →

Posted in Arkansas, Caesars Entertainment, California, Entertainment, Indiana, Internet gambling, Japan, Las Vegas Raiders, Lawrence Ho, Macau, Massachusetts, Melco Resorts & Entertainment, MGM Resorts International, Mohegan Sun, New Jersey, Ohio, Pansy Ho, Pennsylvania, Racinos, Regulation, Rush Street Gaming, Scientific Games, Sociedade de Jogos de Macau, Sports, Sports betting, Technology, Tourism, Wall Street, Wisconsin | Comments Off

Quote of the Day

Posted on January 24, 2019 by David McKee

“The importance of experience is that it is protection against the disruption or the obsolescence of the real estate. If it’s a great place-based experience, it is something that Amazon, at least yet, has not figured out how to put in … Continue reading →

Posted in Caesars Entertainment, Economy, Entertainment | Comments Off

Louisiana: What happened?; Wynn wins historic victory

Posted on January 22, 2019 by David McKee

While most jurisdictions performed impressively last month, Louisiana was down 2.5%. How to account for the slippage? True, the drive-in driven Shreveport/Bossier City market was off 1.5%. But the real culprit was Baton Rouge, toppling 15.5% and ravaged by the new … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Dining, Eldorado Resorts, Environment, GLPI, Greenwood Racing, International, Las Vegas Sands, Louisiana, Macau, Penn National, Pennsylvania, Rush Street Gaming, Sports betting, Tilman Fertitta, Tourism, Vietnam, Wall Street, William Hill, Wynn Resorts | Comments Off

Wall Street says the “R” word; The wrath of Rufus Peabody

Posted on January 17, 2019 by David McKee

Credit Suisse analyst Cameron McKnight has uttered the word most dreaded around Las Vegas: recession. He’s even come up with some projections. “Based on our long-term Strip model, we can see a recession scenario for the Strip in which revenue … Continue reading →

Posted in Atlantic City, Caesars Entertainment, Economy, Indiana, Massachusetts, MGM Resorts International, Politics, Sports, Sports betting, The Strip, Tribal, Wall Street | Comments Off

Atlantic City: Managing expectations; Prosperity in Pennsylvania, Detroit

Posted on January 15, 2019 by David McKee

Grossing $209 million last month, the Atlantic City casino market continues to grow, up 12% in the dead of winter, even if it was 7% down on a same-store basis. That’s a tradeoff the industry will have to accept, as … Continue reading →

Posted in Atlantic City, Boyd Gaming, Bruce Deifik, Caesars Entertainment, Churchill Downs, CityCenter, Dan Gilbert, Detroit, Dining, Economy, Eldorado Resorts, Las Vegas Sands, Macau, MGM Resorts International, Mohegan Sun, Penn National, Pennsylvania, Rush Street Gaming, Tilman Fertitta, Wall Street | 1 Comment

Icahn power play at Caesars?; Big plans for Borgata

Posted on January 14, 2019 by David McKee

We all know that Carl Icahn has a sharp eye for undervalued assets. Caesars Entertainment stock fell 46% last year, making it ripe for the plucking. And pick it Icahn did, scarfing up enough to spur a 11.5% rally in … Continue reading →

Posted in Atlantic City, Caesars Entertainment, Carl Icahn, Dan Gilbert, Detroit, DFS, Internet gambling, MGM Resorts International, Regulation, Sports betting, Taxes, Technology, Tilman Fertitta, Trump Entertainment Resorts, Virginia, Wall Street, West Virginia | Comments Off

Clouded future for Ocean; Wynn keeps fighting

Posted on January 14, 2019 by David McKee

While the mainstream media has gone quiet over the sudden change of ownership at Ocean Resort, Global Gaming Business is reporting that lead owner Bruce Deifik didn’t leave voluntarily but was kicked out by other investors. Luxor Capital Group supposedly … Continue reading →

Posted in Atlantic City, Bruce Deifik, Caesars Entertainment, Colorado, Law enforcement, Massachusetts, Nevada, Regulation, Revel, Sexual misconduct, Steve Wynn, Tribal, Wall Street, Wynn Resorts | 1 Comment

Indiana, Missouri have good months; Hands-free vibrators conquer Las Vegas

Posted on January 10, 2019 by David McKee

Casinos in Indiana grossed $187 million last month, a 3% increase. Caesars Entertainment would appear to have robbed Peter (Horseshoe Southern Indiana) to pay Paul (its two racinos). Horseshoe was down 8% to $20 million, while Indiana Downs cantered past … Continue reading →

Posted in Ameristar, Boyd Gaming, Caesars Entertainment, Eldorado Resorts, Ellis Island, Full House Resorts, Indiana, Isle of Capri, Majestic Star, Missouri, Penn National, Technology, The Strip, Tribal | Comments Off