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Category Archives: Carl Icahn
MSM tunes Steve Wynn out
Has Steve Wynn jumped the shark? That is a question I never, ever thought I’d be asking. But an interesting thing happened in the wake of Winn Wynn Resorts‘ most recent conference call. Toward the end, he went on his … Continue reading
Hotel Hell
Last weekend, my wife and I were subjected treated to what is undoubtedly — without any question — the worst hotel stay of our lives. So-called Affinity Gaming wanted to show off its $8 million retrofit of Primm Valley Resort … Continue reading
Posted in Carl Icahn, Current, Dining, Economy, Entertainment, Fontainebleau, Herbst Gaming, Station Casinos
1 Comment
Caruso sings, Lerner hallucinates
Since I had one foot out the door en route to Albany when Caesars Entertainment held its Rick Caruso-led media blitz on Project Linq, I’m a bit late to the party. Some of my early reactions can be heard on … Continue reading
Hilton: worse than it looks
In the cold light of day (i.e., Chris Sieroty‘s Review-Journal coverage), the situation at the Las Vegas Hilton appears still more dire … if such a thing is possible. Remember that roughly a third of the LVH is owned by … Continue reading
Spinmeister Santo
Remember how the Union Plaza used to be on track for a “grand soft reopening” (love that phrase!) on August 24? Somewhere along the way, that target date fell by the wayside. Solution? Generate a blizzard of stories like this … Continue reading
Posted in Architecture, Carl Icahn, Current, Downtown, Entertainment, Fontainebleau, Herbst Gaming, Sheldon Adelson, Singapore, Tamares Group, Technology, Tourism
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Lost: Steve Wynn’s marbles
Oh Christ, Steve Wynn, grow up already. Busy Wall Street analysts were held hostage to a 433-word talk-radio tirade while they were probably itching to write up quarterly earnings reports. When other CEOs might have been bragging on an “amazing … Continue reading
Quote of the Day
“Goldman is making a decent long-term investment in where the Strip is heading. The Stratosphere and the land could be more valuable imploded and built up with something else.” — gaming analyst Robert LaFleur, then with Susquehanna Financial Group, on … Continue reading
Posted in Carl Icahn, Economy, Goldman Sachs, history, The Strip, Wall Street
4 Comments
F-blew, Sahara solved
Hey, Carl Icahn and Sam Nazarian! Got an old casino — or maybe a new failsino — that needs demolition? Why settle for the few seconds’ thrill of an implosion? Bring Robosaurus to town, set up some bleachers, charge admission … Continue reading
Posted in Carl Icahn, CityCenter, Cloverfield monster, Entertainment, Florida, Fontainebleau, MGM Mirage, Movies, Sahara, The Strip
2 Comments
After the flood; New captains at Tropicana Entertainment
What used to be the Horizon riverboat in Vicksburg is back in business as Grand Station (no relation to Station Casinos, in case you were wondering). While nearby riverboats owned by Neil Bluhm and Ameristar Casinos rode out the high … Continue reading
Posted in Ameristar, Atlantic City, Carl Icahn, Columbia Sussex, Dennis Gomes, Harrah's, Indiana, Marketing, Mississippi, Neil Bluhm, Penn National, Station Casinos, Tropicana Entertainment
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Atlantic City on the mend; Trump: Fish or cut bait?; Mike Ensign’s woes
My apologies for attenuated bloggery today but a swarm of deadlines presses upon me, including coverage of the demise of 104-year-old Huguette Clark, daughter of Sen. William A. Clark, from whom Clark County takes its name. You’ll find a lengthy … Continue reading
Posted in Alex Yemenidjian, Architecture, Atlantic City, Boyd Gaming, Carl Icahn, Charity, CityCenter, Colony Capital, Current, Dan Lee, Dennis Gomes, Donald Trump, Downtown, Economy, Election, Environment, Harrah's, history, Isle of Capri, Marketing, MGM Mirage, Missouri, Penn National, Pinnacle Entertainment, Planet Hollywood, Regulation, Sheldon Adelson, Steve Wynn, The Strip, Tilman Fertitta, Wall Street
4 Comments
Herbst Gaming: new name, familiar faces
No, the company hasn’t been dissolved. But with the various Herbst boys having been run off — plus the negative brand equity created by their eponymous casino firm’s financial collapse — new ownership decided it’s time for a new moniker. … Continue reading
Johnny Casino, thug; Truce at the Trop; The T-Word
Although the Mob may have left Las Vegas, its strong-arm tactics are still in use. Respected casino architect Paul Steelman found that out when he wouldn’t give a job to John Ensign‘s borderline-illiterate former chief of staff, Doug Hampton. Drunk … Continue reading
Has Illinois finally bottomed out? Trop shakeup; Big markdown on Trump
Sorry to disappoint, but we won’t have the answer until June–August, three straight months with the same number of weekend days as last year. By that point we’ll know whether April‘s 2% increase was the beginning of a trend. Last … Continue reading
Posted in Atlantic City, Boyd Gaming, Carl Icahn, Colony Capital, Columbia Sussex, Current, Donald Trump, Economy, Entertainment, Environment, George Maloof, Harrah's, Illinois, Indiana, Maryland, MGM Mirage, Missouri, Penn National, Phil Ruffin, Steve Wynn, The Strip, Tropicana Entertainment
3 Comments
Nazarian totally busted …
… by Chuck Monster, who’s learned that SBE Entertainment‘s deal with MGM Resorts International includes dumping the Club Sahara loyalty program database into the lion’s “low roller walled garden,” Circus Circus Players Club. Which is pretty much what S&G expected … Continue reading
Fire sale in Vicksburg; Win or loss for Gettysburg?
Update: An earlier version contained a gross error/AARP moment on Yr. Humble Blogger’s part. I have amended the story so that it contains greater “factiness.” Also, fellow Canadian firm Gateway Casinos is the likely operator-to-be. In a curt announcement, Tropicana … Continue reading
Why is this man smiling? (And other Case Bets)
Because Sen. Harry Reid‘s decision not to importune lenders on behalf of Fontainebleau (unlike CityCenter) means he steered clear of a widening circle of litigation and recrimination, that’s why. Among those in the hot seat are hapless James Packer and … Continue reading
What makes Sammy run?
Scarcely was the ink dry on Sahara owner Sammy “The Naz” Nazarian‘s announcement of the property’s May 16 closure than rumors began to fly about his endgame for the old gal. At S&G, we’re pretty certain that “The Naz” (™ … Continue reading
Posted in Alex Yemenidjian, Boyd Gaming, California, Carl Icahn, CityCenter, Colony Capital, Columbia Sussex, Cosmopolitan, Current, Economy, Fontainebleau, Herbst Gaming, M Resort, Marketing, MGM Mirage, Penn National, Regulation, Riviera, Sahara, Sheldon Adelson, Tamares Group, The Strip, Tourism, Tropicana Entertainment, TV, Wall Street
9 Comments
Good news from an unexpected source
Atlantic City hit the big 3-0 in February: 30 straight months on revenue declivity, says J.P. Morgan (31, according to Wells Fargo). However, the rate of decline (1.4%) was the smallest since April of last year. With Genting Bhd‘s racino … Continue reading
Palms: Maloof out, Loveman in?
Now that Las Vegas has fallen about as far as it can, private equity firms are picking over the city like vultures sampling carrion. Don’t get me wrong: It’s a much smarter strategy than those PE bozos who bought in … Continue reading