Category Archives: CityCenter

Vegas: Frugality is the new liquidity

Posted on August 16, 2010 by David McKee

I’m sure I speak for some of colleagues in the biz when I say that, on certain subjects, we feel like we’re writing the same story over and over again. (Which is provides yet another reason for our collective fascination … Continue reading →

Posted in Boulder Strip, Boyd Gaming, CityCenter, Cosmopolitan, Current, Downtown, Economy, Mesquite, MGM Mirage, Station Casinos, Steve Wynn, The Strip, Tourism, Tribal | 12 Comments

Wasted … and the 77% solution

Posted on August 10, 2010 by David McKee

Not even the cachet of Carey Hart and occasional appearances by Pink were enough to keep Wasted Space going. The Hard Rock Hotel is calling it quits on the club, bumping it in favor of a race and sports book. … Continue reading →

Posted in Alex Yemenidjian, Architecture, CityCenter, Current, Economy, Entertainment, George Maloof, Harrah's, M Resort, Marketing, MGM Mirage, Midnight Jim Gibbons, Morgans Hotel Group, Pennsylvania, Riviera, Sports, Steve Wynn, Taxes, Technology, The Strip, Tourism, Transportation | 5 Comments

Gone baby, gone

Posted on August 5, 2010 by David McKee

“[T]he confidence that ­property prices and stock markets would permanently defy gravity” is a phrase that perfectly encapsulates how the casino industry got itself into its present pickle. In what other mindset could an industry convince itself that it could … Continue reading →

Posted in Archon Corp., Atlantic City, Boyd Gaming, Cannery Casino Resorts, CityCenter, Colony Capital, Cosmopolitan, Current, Dining, Economy, Encore, Entertainment, Environment, Fontainebleau, Harrah's, history, Marketing, MGM Mirage, Regulation, Station Casinos, Steve Wynn, Taxes, The Strip, Tourism, Wall Street | 4 Comments

Quote of the Day

Posted on August 4, 2010 by David McKee

“It’s a risky story. We weren’t overly impressed with the results.” — Stern, Agee & Leach‘s David Bain on MGM Resorts International‘s 2Q10 revenues. CityCenter (left) lost $128 million in the quarter.

Posted in CityCenter, Current, Economy, MGM Mirage, Wall Street | Comments Off on Quote of the Day

Bad quarters for MGM, Boyd

Posted on August 3, 2010 by David McKee

Undershooting Wall Street‘s expectations for 2Q10, MGM Resorts International missed analyst projections and also took a big-ass writedown on CityCenter (above) consigning $1.2 billion to the dustbin. Hotel occupancy was up from 85% to 93% overall (although RevPAR slipped a … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, CityCenter, Current, Downtown, Economy, Marketing, MGM Mirage, Sheldon Adelson, Station Casinos, Steve Wynn, The Strip, Tourism, Wall Street | 5 Comments

CityCenter: Can’t stop the bashing

Posted on August 3, 2010 by David McKee

Won’t someone please give Sharron Angle a hammer so she can go over to Aria and start smashing windows or something? (If it lets more light into that damnably dank casino floor, she’s got my vote.) The woman’s carrying a … Continue reading →

Posted in Atlantic City, CityCenter, Current, Economy, Election, Harrah's, Harry Reid, MGM Mirage, Movies, Reno, Steve Wynn, Wall Street | 1 Comment

Must-see TV

Posted on July 30, 2010 by David McKee

Now that The Greatest TV Show of All Time (sorry, Star Trek) is back for Season Four, here’s Christina Hendricks, who portrays my favorite Mad Men character, Joan Holloway. In this interview, she has a Joan Holloway-like effect on the … Continue reading →

Posted in Cirque du Soleil, CityCenter, Cretins, Current, Entertainment, MGM Mirage, The Strip, TV | 1 Comment

The great Hilton showroom massacre (and other light news)

Posted on July 22, 2010 by David McKee

In true Colony Capital fashion, the Las Vegas Hilton continues to shed parts like a rattletrap car. Our LVA research team reports that Shimmer Cabaret fixtures Voices (“Starring the beautiful and talented Lani Misalucha“) and Sin City Bad Girls have … Continue reading →

Posted in CityCenter, Colony Capital, Current, Donald Trump, Entertainment, Environment, Marketing, MGM Mirage, Riviera, Sheldon Adelson, The Strip, Tourism | Comments Off on The great Hilton showroom massacre (and other light news)

Recovery? Not in the cards

Posted on July 19, 2010 by David McKee

Month after month of discouraging data from around the country makes it clear that any recovery in the casino industry is a long way off, perhaps years. Heck, just getting back to 2007 levels of prosperity doesn’t take into account … Continue reading →

Posted in CityCenter, Cosmopolitan, Current, Economy, Encore, Entertainment, Harrah's, Massachusetts, MGM Mirage, Morgans Hotel Group, Politics, Problem gambling, Racinos, Regulation, Sheldon Adelson, Steve Wynn, The Strip, Tourism, Tribal | 7 Comments

Veer-ing toward completion

Posted on July 16, 2010 by David McKee

With completion of Harmon Hotels having vanished into the mists of Time, the opening of Veer Towers effectively represents the end of CityCenter‘s rollout. (If and when the Harmon opens as something other than an office tower — one mooted … Continue reading →

Posted in CityCenter, Current, Economy, Entertainment, Genting, MGM Mirage, New York, Penn National, Racinos, Regulation, Station Casinos, The Strip, Tribal | 2 Comments

CityCenter: Stop the madness!

Posted on July 16, 2010 by David McKee

Just when I thought I was out of the Sharron Angle vs. CityCenter insanity, they pull me back in. As I feared, the mythical “CityCenter bailout” has become a meme in that echo chamber of misinformation and urban mythology, cable … Continue reading →

Posted in CityCenter, Cosmopolitan, Current, Election, Fontainebleau, Harry Reid, MGM Mirage, Taxes, The Strip, TV, Wall Street | 9 Comments

Quote of the Day

Posted on July 13, 2010 by David McKee

Via Sharron Angle, the gift who keeps on giving. She may be conflating (mangling?) the distressed-debt-buyback provision that Sen. Harry Reid (D-NV) whisked through Congress — much to the relief of several big casino companies — with his cold-calling on … Continue reading →

Posted in CityCenter, Current, Economy, Election, Harry Reid, MGM Mirage, Wall Street | 4 Comments

Riviera: Non-story of the year

Posted on July 13, 2010 by David McKee

In what was 2010’s biggest foregone conclusion, Riviera Holdings filed bankruptcy yesterday. This has been coming a long time although the scanty news coverage leaves it unclear whether what’s taking place is the pre-packaged bankruptcy that would see the Riv … Continue reading →

Posted in Alabama, Animals, Boyd Gaming, CityCenter, Current, Economy, Election, International, Macau, MGM Mirage, Michael Gaughan, Pansy Ho, Politics, Regulation, Riviera, Sheldon Adelson, Silverton, Steve Wynn, The Strip, Tourism, TV, Wall Street | 3 Comments

S&G hither & yon

Posted on July 12, 2010 by David McKee

Last weekend’s usual barrage of errands, veterinary appointments, etc., was interrupted long enough for Yr. Humble Blogger to guest-host another edition of The Strip Podcast. In it, I reveal my shameful ignorance of televised poker (something I literally tuned out … Continue reading →

Posted in Ameristar, Architecture, Cannery Casino Resorts, CityCenter, Cosmopolitan, Dining, Downtown, Economy, Entertainment, Harrah's, Isle of Capri, MGM Mirage, Missouri, North Las Vegas, Pinnacle Entertainment, Regulation, Sheldon Adelson, Sports, Technology, The Strip, Tilman Fertitta, TV, Wall Street, World Series of Poker | 1 Comment

It’s Sheldon’s world, we just live in it

Posted on July 9, 2010 by David McKee

Oh, how I envy Sheldon Adelson. My own hair grows thinner and grayer while his becomes thicker and darker. (The photo at left, shows Classic Sheldon, circa 1999.) But I digress … Adelson is one of the stars of an … Continue reading →

Posted in Architecture, CityCenter, Cosmopolitan, Current, Economy, Florida, International, Macau, Pennsylvania, Sheldon Adelson, Singapore, Stanley Ho, Taxes, Texas, The Strip, Tourism, Wall Street | 4 Comments

When her head stops spinning …

Posted on July 9, 2010 by David McKee

… where will Sharron Angle stand vis-a-vis the casino industry? She’s already raised the bogeyman of “undue [casino] pressure” — as opposed to “due pressure”? — in her now-scrubbed original Web site, which keeps coming back from the cyber-grave. The … Continue reading →

Posted in CityCenter, Current, Economy, Harry Reid, MGM Mirage, Politics, Sheldon Adelson, Taxes, The Mob, The Strip | 7 Comments

“I’m not dead yet!”

Posted on July 8, 2010 by David McKee

Taking its cue from Monty Python‘s interpretation of the death of Mary, Queen of Scots, management of the Riviera refuses to roll over and die. Its latest enhancement is somewhat out of the box as far as Strip watering holes … Continue reading →

Posted in Boyd Gaming, CityCenter, Colony Capital, Current, Dining, Entertainment, Harrah's, International, MGM Mirage, Phil Ruffin, Riviera, Sahara, Sheldon Adelson, Sports, Steve Wynn, The Strip, Tropicana Entertainment, TV | 4 Comments

Sharron Angle, casino analyst

Posted on July 8, 2010 by David McKee

Reckless rhetoric. Last week, S&G called B.S. on senatorial aspirant Sharron Angle‘s faux solicitude for the unfinished casinos along the Strip. Turns out, if she had her way, there’d be at least one more: Aria, plus all the other components … Continue reading →

Posted in Boyd Gaming, CityCenter, Current, Donald Trump, Dubai, Economy, Election, Fontainebleau, Harrah's, Harry Reid, Marketing, MGM Mirage, Midnight Jim Gibbons, Phil Ruffin, Politics, Problem gambling, Regulation, Sheldon Adelson, Station Casinos, The Strip, Tourism, Transportation, TV | 6 Comments

Around the horn

Posted on July 8, 2010 by David McKee

Iowa‘s casino revenues last month were nearly the textbook definition of “flat”: up a tenth of a percent, the first revenue-positive month since February 2009. (Hey, growth is growth. We’ll take it.) The drag anchor on revs was Harrah’s Entertainment, … Continue reading →

Posted in Ameristar, Boyd Gaming, Carl Icahn, CityCenter, Current, Detroit, Don Barden, Economy, Entertainment, Harrah's, Horseracing, Illinois, Indiana, International, Iowa, Isle of Capri, Macau, MGM Mirage, Mississippi, Missouri, Pansy Ho, Penn National, Pinnacle Entertainment, Racinos, Regulation, Stanley Ho, Tribal, Tropicana Entertainment, TV | 2 Comments

Cosmo: Blueprint for failure?

Posted on July 1, 2010 by David McKee

Geez, I’ve not been feeling pessimistic about the Dec. 15 debut of the Cosmopolitan … until somebody forwarded me a copy of a Bill Lerner analysis of the property. Now I’m worried. After walking the place, Lerner found it to … Continue reading →

Posted in Architecture, CityCenter, Cosmopolitan, Current, Economy, Marketing, MGM Mirage, Planet Hollywood, The Strip, Wall Street | 5 Comments