Category Archives: Carl Icahn

‘Tis the season

Posted on December 23, 2009 by David McKee

Kansas Gov. Mark Parkinson cuts the ribbon on Boot Hill Casino. The gentleman at the rear in the red tie is the Kansas Lottery’s Ed Van Petten, taking time out from carrying water for Mike Ensign. Having been on the … Continue reading →

Posted in Alex Yemenidjian, Archon Corp., Boyd Gaming, Cannery Casino Resorts, Carl Icahn, CityCenter, Colony Capital, Columbia Sussex, Don Barden, Donald Trump, Economy, Election, Entertainment, Environment, Fontainebleau, Harrah's, Harry Reid, Internet gambling, Isle of Capri, Jack Binion, James Packer, Kansas, M Resort, Macau, MGM Mirage, Neil Bluhm, Oscar Goodman, Penn National, Pets, Phil Ruffin, Politics, Sheldon Adelson, Stanley Ho, Station Casinos, Steve Wynn, Technology, The Strip, Tourism, Tribal | 8 Comments

Bonuses for F-bleau; MGM plants flag in India

Posted on December 11, 2009 by David McKee

When your hopelessly over-budget resort project is bankrupt, stuck in the mud, mired in lawsuits and is basically a total writeoff, there’s only one thing to do. Award year-end bonuses, that’s what. Fontainebleau Chief Restructuring Officer Howard Karawan wants to … Continue reading →

Posted in Carl Icahn, Current, Economy, Fontainebleau, Genting, International, MGM Mirage, Penn National, The Strip | 6 Comments

Who’s better for F’bleau: Icahn or Penn?

Posted on December 8, 2009 by David McKee

That’s the unspoken question hanging over a lengthy piece in yesterday’s Las Vegas Sun. While Penn National Gaming is willing to commit $1.5 billion or more to finishing Fontainebleau, lead bidder Carl Icahn may be able to do the job … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, CityCenter, Columbia Sussex, Current, Economy, Fontainebleau, Kansas, MGM Mirage, Ohio, Penn National, Planet Hollywood, Regulation, Station Casinos, The Strip, Wall Street | 2 Comments

Case Bets: The Wayner, G2E, Packer & Kerzner

Posted on December 8, 2009 by David McKee

Say what you like about Wayne Newton‘s Once Before I Go at the Tropicana Las Vegas, it has the biggest band you’ll see on the Strip: 20 strong, plus backup singers. Most Strip headliners have to make do with one-third … Continue reading →

Posted in Alex Yemenidjian, Atlantic City, Australia, Carl Icahn, Current, Donald Trump, Economy, Entertainment, G2E, Genting, International, James Packer, Massachusetts, New York, Pennsylvania, Planet Hollywood, Problem gambling, Racinos, Sheldon Adelson, Singapore, Tribal, Tropicana Entertainment | Comments Off

F-bleau: It’s Icahn’s … or is it?

Posted on November 24, 2009 by David McKee

True to form, Carl Icahn sprang when you least expected him to, sneaking up on Penn National Gaming in bankruptcy court to outbid it for the bankrupt Fontainebleau in the first round of bartering (a process that will drag into … Continue reading →

Posted in California, Carl Icahn, Current, Economy, Fontainebleau, IGT, Louisiana, Morgans Hotel Group, Penn National, Pinnacle Entertainment, The Strip, Wall Street | 6 Comments

Hope for Boardwalk?

Posted on October 13, 2009 by David McKee

As you know, S&G puts more stock in year/year comparisons than sequential ones, but the most recent set from Atlantic City affords a slender reed of hope. With the help of tighter slots, A.C. held its September decline to 6%, … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Colony Capital, Current, Economy, Harrah's, Marketing, Maryland, Neil Bluhm, New York, Pennsylvania, Regulation, Sheldon Adelson, Tourism, Tropicana Entertainment | Comments Off

Atlantic City sucks …

Posted on September 22, 2009 by David McKee

… says the Motley Fool, in essence. Even Borgata, which posted a higher operating profit year/year, is deemed merely to suck less than everybody else. I’m not sure I’m with the Fools on this one. For instance, shouldn’t Sands Bethlehem … Continue reading →

Posted in Ameristar, Atlantic City, Carl Icahn, Colorado, Detroit, Donald Trump, Florida, Internet gambling, Macau, MGM Mirage, Pinnacle Entertainment, Regulation, Sheldon Adelson, Stanley Ho, Tribal, Wall Street | Comments Off

Meet the new Trop boss …

Posted on August 26, 2009 by David McKee

… largely the same as the old boss. Tropicana Entertainment's diligent efforts to get back into the Tropicana Atlantic City have finally paid off. Thus (nearly) ends a prolonged interregnum during which no clearly superior alternativves emerged. Well … there … Continue reading →

Posted in Atlantic City, Carl Icahn, Columbia Sussex, Cordish Co., Current, Regulation, The Strip, Tropicana Entertainment | Comments Off

I was just saying …

Posted on August 12, 2009 by David McKee

… to a colleague that, given Atlantic City‘s dismal July numbers, a plea for governmental assistance had to be just ’round the corner. Well, whaddya know? In at least five instances, Atlantic City’s casinos are run by companies that just … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Colony Capital, Current, Donald Trump, Economy, Harrah's, MGM Mirage, Tropicana Entertainment | Comments Off

Carl Icahn, comedian?

Posted on August 11, 2009 by David McKee

"As a result of [Tropicana Entertainment's] continued use of the Tropicana marks in interstate commerce, the Tropicana marks have achieved fame and notoriety and are associated in the minds of consumers nationwide with a consistent level of high-quality casino, entertainment … Continue reading →

Posted in Atlantic City, Carl Icahn, Columbia Sussex, Lake Tahoe, Laughlin, The Strip, Tropicana Entertainment | Comments Off

Aztar deal the worst ever: it's quantifiable

Posted on July 28, 2009 by David McKee

When he acquired Aztar Corp., back in 2006, Columbia Sussex CEO William J. Yung III also became one of the company’s debtors. So what’s his $36 million worth today? According to the Wall Street Journal, 100 grand or less. If … Continue reading →

Posted in Atlantic City, Carl Icahn, Columbia Sussex, Cosmopolitan, Current, Economy, Genting, Harrah's, International, Macau, Sheldon Adelson, Singapore, Stanley Ho, The Strip, Tropicana Entertainment | Comments Off

A Trop by any other name

Posted on July 27, 2009 by David McKee

Icahn Capital, which purchased the Tropicana Atlantic City for $54 million, effectively, is projecting a conservative course for the property. Any sort of expansion is being ruled out for now, due to skepticism about “green shoots” of economic recovery. Speaking … Continue reading →

Posted in Alex Yemenidjian, Atlantic City, Carl Icahn, Columbia Sussex, Current, Economy, Harrah's, Illinois, Problem gambling, The Strip, Tropicana Entertainment | Comments Off

Trop and tribulation

Posted on July 8, 2009 by David McKee

A pair of New Jersey lawmakers are hopping mad about the costly, dubiously competent Tropicana Atlantic City trusteeship of Justice Gary Stein. The solons are particularly het up over the way Stein was feathering his own nest. "It is unacceptable, … Continue reading →

Posted in Atlantic City, Carl Icahn, Columbia Sussex, Politics, Regulation, Tropicana Entertainment | Comments Off

Goodman for governor … again?

Posted on June 12, 2009 by David McKee

It’s been bruited since at least 2002 and it’s happening yet again: Las Vegas Mayor Oscar Goodman is mulling a gubernatorial run for the umpteenth time. “Spoiler!”, cry some. I look at the uninspiring field (Montandon, Heck, Midnight Jim, Buckley, … Continue reading →

Posted in Architecture, Carl Icahn, Dining, Economy, Election, Entertainment, MGM Mirage, Oscar Goodman, Politics, The Strip | Comments Off

Margaritaville wastes away

Posted on June 2, 2009 by David McKee

In an utterly (not) shocking development, the interminably protracted sale of Trump Marina has given up the ghost. This deal was on life support for months, so today’s bulletin merely ratifies the inevitable. The would-be reinvention of the Marina as … Continue reading →

Posted in Atlantic City, Carl Icahn, Colony Capital, Current, Donald Trump, Economy, Harrah's, Silverton, Tropicana Entertainment | Comments Off

Report from the Strat

Posted on June 2, 2009 by David McKee

A reader asked (possibly in jest) how the Hard Rock Hotel was vis-a-vis the Stratosphere. While I don't have the basis for an A:A comparison, I can comfortably say that if you can afford the Hard Rock, it's no contest. … Continue reading →

Posted in Architecture, Carl Icahn, Goldman Sachs, MGM Mirage, Morgans Hotel Group, Steve Wynn, The Strip | Comments Off

Pansy Ho: time for Plan C

Posted on May 22, 2009 by David McKee

In my usual cart-first, horse-later fashion, I elicited a legal opinion regarding the scenario I postulated the other night: MGM Mirage spinning off either its Atlantic City holdings or MGM Grand Macau into a quasi-autonomous entity, much as Sheldon Adelson … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Regulation, Sheldon Adelson, Stanley Ho, Taxes | Comments Off

Pinnacle: the untold story

Posted on April 21, 2009 by David McKee

Is waxing and buffing the Pinnacle Entertainment limo a prerequisite for scoring an interview with its CEO? This small masterpiece of selective omission is more interesting for what it elides than what it says. The article parrots Dan Lee as … Continue reading →

Posted in Alex Yemenidjian, Ameristar, Atlantic City, Carl Icahn, Columbia Sussex, Entertainment, Harrah's, Illinois, Louisiana, MGM Mirage, Missouri, Pinnacle Entertainment, The Strip, Tropicana Entertainment | Comments Off

Icahn vs. Kerkorian III

Posted on April 20, 2009 by David McKee

Former Stratosphere owner Carl Icahn says it's nothing personal, just business. This is reposted here because, among other reasons, the version embedded by the Las Vegas Review-Journal plays only in an extremely constipated manner. Here's hoping we do better.Best moment: … Continue reading →

Posted in Carl Icahn, MGM Mirage, Wall Street | Comments Off

Icahn vs. Kerkorian II; Ho hearts Adelson

Posted on April 17, 2009 by David McKee

Yesterday saw some intemperate spluttering in newspaper comment threads, along the lines “How dare the Wall Street Journal report the news? It might damage stock prices!” (One hothead even bruited the possibility of a libel suit.) All of which was … Continue reading →

Posted in Carl Icahn, Economy, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Sheldon Adelson, Stanley Ho, Steve Wynn, Wall Street | Comments Off