Category Archives: Carl Icahn

Atlantic City: There’s life after Trump; Bluhm dominates in Pennsylvania

Posted on December 14, 2017 by David McKee

Finally liberated from year/year comparisons that included the dying Trump Taj Mahal, casinos in Atlantic City experienced 3% revenue growth last month. Internet gambling did even better, leaping 20%. For the lifetime of ‘Net betting in New Jersey, this brings … Continue reading →

Posted in Animals, Atlantic City, Carl Icahn, Delaware, Greenwood Racing, Harrah's, Internet gambling, MGM Mirage, Mohegan Sun, Movies, Neil Bluhm, Nevada, Pennsylvania, PokerStars, Politics, Racinos, Sheldon Adelson, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts | Comments Off on Atlantic City: There’s life after Trump; Bluhm dominates in Pennsylvania

Curtains for Trump Plaza; Prez “downright dumb” about tribes

Posted on November 22, 2017 by David McKee

It’s dynamite time for Trump Plaza in Atlantic City — and about time. The pertinent question seems to be how owner Carl Icahn is going to get rid of this eyesore or, more specifically, how he’s going to pay for it. Rather … Continue reading →

Posted in Atlantic City, Carl Icahn, Donald Trump, Harrah's, International, Internet gambling, Minnesota, Politics, Sam Nazarian, Taxes, Transportation, Tribal | 2 Comments

F-blew: Here we go again; Trop makes Hoosier history

Posted on September 19, 2017 by David McKee

Steven Witkoff hasn’t closed on the Fontainebleau sale yet, never mind receiving a gaming license, and he’s already being cast as the savior of the Las Vegas Strip. However, there are some dark clouds on Fontainebleau’s horizon. Despite the $1.3 … Continue reading →

Posted in Carl Icahn, Eldorado Resorts, Fontainebleau, Genting, history, Indiana, Internet gambling, LVCVA, Marketing, Massachusetts, Penn National, Pennsylvania, Regulation, Reno, Steven Witkoff, The Strip, Tropicana Entertainment | 1 Comment

Icahn’s big score

Posted on August 31, 2017 by David McKee

Did Carl Icahn just take Steven Witkoff to the cleaners? It sure looks that way. Witkoff and his associates paid, according to Bloomberg, $22 million an acre for Fontainebleau. Yes, $22 million. That figure is so dazzling I had to … Continue reading →

Posted in Carl Icahn, Fontainebleau, Genting, Internet gambling, James Packer, Maine, Marketing, Massachusetts, New Hampshire, Politics, Steven Witkoff, The Strip | 1 Comment

F-blew sold; Turmoil at Westgate

Posted on August 30, 2017 by David McKee

It’s official. Carl Icahn has the Fontainebleau monkey off his back. He found a couple of chumps, er, investment firms in the form of Witkoff Group and New Valley, who bought F-blew for a cool $600 million. When you consider … Continue reading →

Posted in Carl Icahn, Fontainebleau, Genting, LVCVA, Sheldon Adelson, SLS Las Vegas, The Strip, Wall Street, Westgate LV | 2 Comments

F-blew sale rumored; New Jersey legitimizes DFS

Posted on August 28, 2017 by David McKee

According to VitalVegas, Carl Icahn finally has finally hooked a big one and the upshot will be a long-delayed sale of Fontainebleau for $650 million. Uncle Carl has long since recouped his bargain-basement purchase price by selling off everything wasn’t … Continue reading →

Posted in Affinity Gaming, Atlantic City, Boulder Strip, Boyd Gaming, Carl Icahn, Derek Stevens, Donald Trump, Downtown, Fontainebleau, Genting, GLPI, Hard Rock Hotel, Harrah's, history, Internet gambling, Lucky Dragon, LVCVA, M Resort, MGM Mirage, North Las Vegas, Palms, Penn National, Politics, SLS Las Vegas, Station Casinos, Taxes, Terry Caudill, The Strip, Wall Street, Westgate LV | 1 Comment

Starting over at the Taj

Posted on July 20, 2017 by David McKee

“I think that we were trying to copy what was happening in Vegas. Everything out there had a theme, and I think that is what we were trying to do.” So says former Trump Taj Mahal executive Steve Norton about the … Continue reading →

Posted in Architecture, Atlantic City, California, Carl Icahn, Donald Trump, Greenwood Racing, Hard Rock International, Harrah's, history, Neil Bluhm, Nevada, Pennsylvania, Regulation, Tribal | 1 Comment

Stratosphere: From Goldman to Golden; Christmas tree for gamers in Pennsylvania

Posted on June 12, 2017 by David McKee

Goldman Sachs has had enough of the casino business. Either that or the price was right. Whatever the case, Golden Entertainment has just executed the greatest coup of its brief existence. It has purchased Las Vegas icon the Stratosphere. In … Continue reading →

Posted in Baseball, Boulder Strip, Carl Icahn, Foxwoods, Golden Gaming, Goldman Sachs, Internet gambling, Laughlin, MGM Mirage, Mohegan Sun, Pennsylvania, Regulation, Sheldon Adelson, Slot routes, Sports, Taxes, The Strip, Tribal | Comments Off on Stratosphere: From Goldman to Golden; Christmas tree for gamers in Pennsylvania

Hard Rock ups Atlantic City commitment; Japan inspires casino designers

Posted on May 31, 2017 by David McKee

Compared to Carl Icahn‘s half-a-loaf policies, Hard Rock International CEO Jim Allen is Lady Bountiful, at least as concerns [Trump] Taj Mahal. We put The Donald’s name in brackets because it’s one of the first things to go, to be … Continue reading →

Posted in Architecture, Atlantic City, Carl Icahn, Donald Trump, Election, Glenn Straub, Hard Rock International, Harrah's, Harry Reid, International, Japan, Lawrence Ho, Massachusetts, Melco Crown Entertainment, MGM Mirage, Mohegan Sun, Regulation, Revel, Sahara, SLS Las Vegas, Technology, Unite-Here | 1 Comment

Hard Rock takes Icahn to the cleaners

Posted on May 11, 2017 by David McKee

Well, now we know how much Hard Rock International paid for Trump Taj Mahal — and why Carl Icahn wanted to keep it a secret. The defunct casino changed hands for $50 million, well below the nine-figure sum Icahn was … Continue reading →

Posted in Atlantic City, Carl Icahn, Columbia Sussex, Donald Trump, Glenn Straub, Hard Rock International, MGM Mirage, Pennsylvania, Regulation, Revel, Sheldon Adelson, Tribal, Tropicana Entertainment, Trump Entertainment Resorts | Comments Off on Hard Rock takes Icahn to the cleaners

Freeman: Sports betting is coming; Second thoughts on Paradise Park

Posted on April 27, 2017 by David McKee

It could be a case of wishing that legalization of sports betting will make it so. Or maybe Geoff Freeman is privy to intelligence that he’s not shared with the rest of us. Either way, he thinks a sports-betting repeal … Continue reading →

Posted in Atlantic City, Boulder Strip, Carl Icahn, Dining, Donald Trump, Geoff Freeman, Goldman Sachs, history, Laughlin, Politics, Sports, Steve Wynn, Technology, The Strip, Transportation, Tropicana Entertainment | 1 Comment

Trump’s revenge; Larry Flynt, casino boss

Posted on March 28, 2017 by David McKee

Why is Trump Plaza the whitest elephant among Atlantic City casinos? (Scroll to bottom) Because its operating costs include a $1 million ground lease to former American Jewish Congress head Robert Lifton, who owns the underlying acreage. This little poison … Continue reading →

Posted in Atlantic City, California, Carl Icahn, Donald Trump, Hard Rock International, Harrah's, history, Isle of Capri, MGM Mirage, Technology, Trump Entertainment Resorts | 1 Comment

Atlantic City suffers February hiccup; Caesars K.O.’d in Korea

Posted on March 14, 2017 by David McKee

All good things must end and, in the case of Atlantic City, a pretty steady comeback hit a pothole in December, with business down 2%. Even Borgata ($58 million) was down a percentage point. Citywide, slot revenue was actually up … Continue reading →

Posted in Atlantic City, Carl Icahn, Dan Gilbert, Detroit, Glenn Straub, Golden Gaming, Greenwood Racing, Hard Rock International, Harrah's, Internet gambling, Isle of Capri, Macau, Maryland, MGM Mirage, Mohegan Sun, Pennsylvania, PokerStars, Revel, Sheldon Adelson, South Korea, Tropicana Entertainment | 1 Comment

Sheldon stifles story; Trump Plaza’s end near

Posted on March 6, 2017 by David McKee

News about Las Vegas Sands‘ negotiations to sell Sands Bethlehem (confirmed) to MGM Resorts International (alleged) have been all over the Internet, especially once MGM’s name entered the discussion. You know where the story hasn’t been? Yup. Sheldon Adelson‘s very … Continue reading →

Posted in Atlantic City, Carl Icahn, Hard Rock International, MGM Mirage, Pennsylvania, Sheldon Adelson, Tropicana Entertainment, Unite-Here | Comments Off on Sheldon stifles story; Trump Plaza’s end near

MGM tipped as Sands Bethlehem buyer

Posted on March 5, 2017 by David McKee

It’s definite: Las Vegas Sands is shopping Sands Bethlehem, no matter what Ron Reese tells you. Company executives visited Pennsylvania Gaming Control Board Commissioner Richard G. Jewell with the news, which he confirmed to the Allentown Morning Call. Corroboration came … Continue reading →

Posted in Carl Icahn, Georgia, Internet gambling, Maryland, Massachusetts, MGM Mirage, Movies, New York, Pennsylvania, Politics, Regulation, Sheldon Adelson, Slot routes, Tropicana Entertainment | Comments Off on MGM tipped as Sands Bethlehem buyer

The case for cannibalization; Hard Rock buys Taj

Posted on March 2, 2017 by David McKee

There’s still a big budget shortfall in Pennsylvania and state Rep. Mike Sturla thinks he has at least part of the answer: slot routes. Casinos can be expected to decry this proposed solution and some already are. But for Sturla … Continue reading →

Posted in Atlantic City, Carl Icahn, Economy, Foxwoods, Geoff Freeman, Golden Gaming, Hard Rock International, Harry Reid, Illinois, MGM Mirage, Mohegan Sun, Penn National, Pennsylvania, Politics, Revel, Slot routes, Sports, The Strip, Tribal, Tropicana Entertainment, West Virginia | Comments Off on The case for cannibalization; Hard Rock buys Taj

Tumult at Golden Gate; Icahn to sell Trump Taj

Posted on February 8, 2017 by David McKee

It’s been a busy week or so for Derek Stevens. Last week, he started turning earth on the La Bayou site, preface to construction of a two-story slot parlor that Stevens expects to have finished by August. (He wastes no … Continue reading →

Posted in Alabama, Atlantic City, Carl Icahn, Derek Stevens, Dining, Downtown, Glenn Straub, Nevada, Politics, Revel, Unite-Here | Comments Off on Tumult at Golden Gate; Icahn to sell Trump Taj

Cheerless Christmas in Illinois; Whitewash at Caesars?

Posted on January 9, 2017 by David McKee

Despite two extra weekend days, gaming revenues in Illinois were down 5% last month. For all we know, gamblers may have been saving up for Christmas but we think this points to the increasing prevalence of slot routes (many owned … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Churchill Downs, GLPI, Harrah's, Horseracing, Illinois, MGM Mirage, Neil Bluhm, Penn National, Racinos, Slot routes, Sports, The Strip, Unite-Here | Comments Off on Cheerless Christmas in Illinois; Whitewash at Caesars?

National Harbor boffo for MGM; Icahn keeps them guessing

Posted on January 6, 2017 by David McKee

In its first month, MGM National Harbor has been both good and bad for Maryland. Although the MGM Resorts International property, acclaimed by some as being Las Vegas Strip-caliber, did blockbuster numbers, the rest of the Maryland casino industry was … Continue reading →

Posted in Carl Icahn, Cordish Co., Glenn Straub, Golden Gaming, Harrah's, Internet gambling, Maryland, Massachusetts, MGM Mirage, Penn National, Pennsylvania, Politics, Revel, Slot routes, Taxes, The Strip, Tropicana Entertainment, Unite-Here, Wall Street | 2 Comments

Icahn amputates nose, spites face; Casinos for Carolina?

Posted on January 5, 2017 by David McKee

In a “So there!” move, Carl Icahn has petitioned, as part of a sale process, to have a five-year deed restriction placed on the Trump Taj Mahal, preventing anyone from reopening it as a casino until 2022. He’s also surrendering … Continue reading →

Posted in Atlantic City, Carl Icahn, Moulin Rouge, North Las Vegas, Politics, SLS Las Vegas, South Carolina, Sports, Station Casinos | Comments Off on Icahn amputates nose, spites face; Casinos for Carolina?