Category Archives: Colony Capital

Gambling scandal ensares eight more

Posted on September 21, 2009 by David McKee

It’s not quite on the global scale of the Ultimate Bet brouhaha, but the Tran Organization‘s conspiracy to fleece dozens of U.S., Canadian and tribal casinos is racking up an amazing head count. To date, federal prosecutors have already nailed … Continue reading →

Posted in Ameristar, California, Colony Capital, Don Barden, Donald Trump, Harrah's, Indiana, International, Internet gambling, Iowa, Isle of Capri, Louisiana, MGM Mirage, Mississippi, Penn National, Pinnacle Entertainment, Regulation, Station Casinos, The Mob, The Strip, Tribal | Comments Off on Gambling scandal ensares eight more

'Phantom' fans hit Vegas

Posted on September 17, 2009 by David McKee

Heaven knows, there are conventions for soap operas, sitcoms and every iteration of science fiction (I’ve been to more than a few of the latter). But a fan convention for a Broadway show? That’s unheard of. Yesterday, fans of Phantom … Continue reading →

Posted in Colony Capital, Current, Entertainment, Harrah's, Marketing, Sheldon Adelson, The Strip, Tourism, TV | Comments Off on 'Phantom' fans hit Vegas

Colony Capital comedy

Posted on August 21, 2009 by David McKee

Having borrowed money to buy the Las Vegas Hilton five years ago at a dirt-cheap $200 million, Colony Capital — those financial wizards — borrowed $250 million more to retire the first loan. (Does Colony intend to pay off the … Continue reading →

Posted in Boyd Gaming, Colony Capital, Fontainebleau, Harrah's, LVCVA, Penn National, Phil Ruffin, Plaza, Regulation, Steve Wynn | Comments Off on Colony Capital comedy

Colony Capital strikes (out) again; Big Bleauh

Posted on August 17, 2009 by David McKee

Despite taking a 22% gouge out of expenses, Colony Capital and its Goldman Sachs sidekicks managed to convert a 2Q08 profit to a $10.5 million 2Q09 loss. Revenues were down $30 million (or 40%), half of that from diminished room … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colony Capital, Current, Economy, Fontainebleau, Genting, Harrah's, Laughlin, Mesquite, Penn National, Planet Hollywood, Sheldon Adelson, Singapore, Steve Wynn, The Strip | Comments Off on Colony Capital strikes (out) again; Big Bleauh

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 on I was just saying …

Neverland Station?

Posted on August 7, 2009 by David McKee

So long Viva, hello Michael Jackson? According to NBC News, parts of Neverland Ranch are going to be dismantled and moved to — you guessed it — Las Vegas. Who owns Neverland Ranch? Colony Capital? Who has amassed enormous tracts … Continue reading →

Posted in Colony Capital, Current, Dining, Station Casinos, The Strip | Comments Off on Neverland Station?

Get 'em while they're young

Posted on August 6, 2009 by David McKee

One of the Atlantic City Hilton‘s most valued players was a 19-year-old from Brooklyn. This baby whale was sufficiently lucrative to the Colony C(r)apital property that he received a comped stay and qualified as a “rated player.” Better still, A.C. … Continue reading →

Posted in Atlantic City, Colony Capital, Entertainment, International, Regulation, Riviera, Station Casinos, The Strip | Comments Off on Get 'em while they're young

McKee vs. Lerner

Posted on August 3, 2009 by David McKee

Actually, the headline misstates what was a very collegial — if occasionally dissenting — exchange of views between Union Gaming Group's Bill Lerner and Yr. Humble Blogger on Jon Ralston's Face to Face show. It was only my second-ever gig … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, Colony Capital, Current, Economy, International, Kansas, Labor, M Resort, Macau, MGM Mirage, Sheldon Adelson, Singapore, Station Casinos, The Strip, TV, Wall Street | Comments Off on McKee vs. Lerner

Case Bets: Hard Rock, Puck, Station, Greek Isles

Posted on July 29, 2009 by David McKee

Morgans Hotel Group has never seemed able to make up its mind about what to do with the Hard Rock Hotel & Casino (one of the stranger acquisitions of recent years). Then-CEO Ed Scheetz came in talking big about classing … Continue reading →

Posted in Architecture, Colony Capital, Current, Dining, Economy, Entertainment, Harrah's, Marketing, Morgans Hotel Group, Station Casinos, The Strip, Tourism, Wall Street | Comments Off on Case Bets: Hard Rock, Puck, Station, Greek Isles

The dream is dying

Posted on July 20, 2009 by David McKee

Just last week, UNLV‘s historical sage, Dr. Eugene Moehring, was taking a dim view of the fate of Las Vegas’ working class. Now comes the Wall Street Journal to back him up with some sobering reportage. Even at union salaries, Culinary … Continue reading →

Posted in Boyd Gaming, Colony Capital, Cosmopolitan, Economy, Encore, Fontainebleau, Harrah's, LVCVA, M Resort, MGM Mirage, Morgans Hotel Group, Plaza, Station Casinos, Steve Wynn, The Strip, Tourism, Wall Street | Comments Off on The dream is dying

Quote of the Day

Posted on July 14, 2009 by David McKee

“Did these companies come in and make Harrah’s and Station better companies? Not really. In the case of Harrah’s, they have made things worse.” — T. Rowe Price portfolio manager Joe Fath on the effects of private equity buyouts on … Continue reading →

Posted in Colony Capital, Harrah's, Station Casinos, Wall Street | Comments Off on Quote of the Day

Harrah's goes to the dogs

Posted on June 30, 2009 by David McKee

Harrah’s Entertainment is poking its snout into the prospect of obtaining a management contract at bankrupt Twin River Casino, a dog track with VLTs in Rhode Island. The paraphrase of the explanation given by Harrah’s senior veep Jan Jones seems … Continue reading →

Posted in Animals, Colony Capital, Harrah's, Massachusetts, Politics, Problem gambling, Taxes | Comments Off on Harrah's goes to the dogs

Case Bets: A.C. Trop, 21, Ensign, Boulder City, Jacko, etc.

Posted on June 29, 2009 by David McKee

After conservator Justice Gary Stein turned his trusteeship of the Tropicana Atlantic City into a $7.4 million gravy train, the New Jersey Casino Control Commission is belatedly bolting the barn door. It's going to petition the Lege to limit the … Continue reading →

Posted in Atlantic City, Colony Capital, Columbia Sussex, Downtown, Politics, Regulation, The Strip, Tourism | Comments Off on Case Bets: A.C. Trop, 21, Ensign, Boulder City, Jacko, etc.

S&M at Station

Posted on June 25, 2009 by David McKee

Bondholders of Station Casinos must have an infinite capacity for suffering. Either that or CEO Frank Fertitta III is such a virtuosic Pied Piper that they'll follow him anywhere. It's difficult to rationally explain why they're letting a superior offer … Continue reading →

Posted in Boyd Gaming, Colony Capital, Massachusetts, Station Casinos, TV, Wall Street | Comments Off on S&M at Station

Not what the doctor ordered

Posted on June 23, 2009 by David McKee

While the Better Half and I managed to quaff at least some of the infamous bacon martini w/o negative ramifications, we were not so fortunate with Sunday night's visit to a certain casino buffet. Suffice it to say that the … Continue reading →

Posted in Colony Capital, Current, Dining, Entertainment, Planet Hollywood, Sheldon Adelson, The Strip, Transportation | Comments Off on Not what the doctor ordered

Harrah’s Azov?

Posted on June 18, 2009 by David McKee

Bloomberg News reports the following: Harrah’s Entertainment, the world’s biggest casino company, may build a resort on the Azov Sea, Vedomosti reported Tuesday. Harrah’s may join U.S. construction company Asati in building a complex in Azov-City, one of four gambling … Continue reading →

Posted in Alaska, Atlantic City, Charity, Colony Capital, Columbia Sussex, Culinary Union, Harrah's, International, Regulation, Tropicana Entertainment | 1 Comment

Case Bets: Colony Capital, Siegfried & Roy, Obama smacks poker players

Posted on June 15, 2009 by David McKee

“Bats hang over the doorway to the building that housed Mr. Jackson’s private arcade; guano stains the threshold.” That’s how the Wall Street Journal describes Michael Jackson‘s decaying Neverland Ranch. It gets even freakier from there, with the WSJ receiving … Continue reading →

Posted in California, Colony Capital, Entertainment, International, Internet gambling, Movies, Politics, Regulation, Station Casinos, The Strip, TV | Comments Off on Case Bets: Colony Capital, Siegfried & Roy, Obama smacks poker players

ABBA plays Vegas

Posted on June 14, 2009 by David McKee

On Sept. 24, 1979, the Swedish superstars played the Aladdin Performing Arts Theatre (now part of Planet Hollywood, of course). Last weekend, eight songs from that one and only Vegas show belatedly surfaced. It’s an extraordinary document, both historically and … Continue reading →

Posted in ABBA, Colony Capital, Entertainment, Planet Hollywood | 2 Comments

ABBA plays Vegas

Posted on June 14, 2009 by David McKee

On Sept. 24, 1979, the Swedish superstars played the Aladdin Performing Arts Theatre (now part of Planet Hollywood, of course). Last weekend, eight songs from that one and only Vegas show belatedly surfaced. It’s an extraordinary document, both historically and … Continue reading →

Posted in ABBA, Colony Capital, Entertainment, Planet Hollywood | Comments Off on ABBA plays Vegas

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 on Margaritaville wastes away