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Category Archives: Colony Capital
Surrender in Atlantic City?
Yesterday, I mis-reported New Jersey state Sen. James Whelan's proposal for downsizing the state's regulatory apparatus. He didn't call for elimination of the New Jersey Casino Control Commission in favor of the Division of Gaming Enforcement, merely an unspecified removal … Continue reading
Posted in Atlantic City, Boyd Gaming, Colony Capital, Donald Trump, Economy, Harrah's, Penn National, Pennsylvania, Politics, Regulation, Station Casinos
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Perp Show
If you're bald, weight 285 lbs. and have one arm in a cast, you're not exactly inconspicuous. So how was it that that such a hefty man was to infiltrate a VIP area of Planet Hollywood and bust into Peepshow … Continue reading
Posted in Atlantic City, Boyd Gaming, Cirque du Soleil, Colony Capital, Current, Donald Trump, Economy, Election, Entertainment, Fontainebleau, Harrah's, MGM Mirage, Planet Hollywood, Politics, Regulation, Taxes, The Strip, Tropicana Entertainment
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Case Bets: Caesars, Criss Angel, Lance Burton, Earl & Lani and Trent
Seen last night by an S&G source, Pit One at Caesars Palace empty save for one or two baccarat players. It’s just a small indicator of a larger disconnect that I hope to address later. PR flack Robin Leach has … Continue reading
Posted in Cirque du Soleil, Colony Capital, Current, Economy, Encore, Entertainment, Harrah's, MGM Mirage, Planet Hollywood, Steve Wynn, The Strip, Tropicana Entertainment
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Chump change for Trop
While there has been no shortage of bad decisions in the casino industry of late, the Dunce of the Year winner for 2008 and presumptive favorite for 2009 has got to be Tropicana Atlantic City conservator Gary Stein. This former … Continue reading
Posted in Atlantic City, Colony Capital, Cordish Co., Donald Trump, Economy, Regulation, Tropicana Entertainment
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Case Bets: Isle exits U.K.; no room at the Trop; Carlino channels Astaire, etc.
Isle of Capri Casinos is coming up for air, literally extricating itself from underneath Ricoh Stadium in Coventry, U.K. As part of CEO James Perry‘s attempt to refocus a company that spread itself too thin under his predecessor, he’s walking … Continue reading
Posted in Atlantic City, California, Colony Capital, Columbia Sussex, Current, Detroit, Economy, Florida, Goldman Sachs, Illinois, International, Isle of Capri, MGM Mirage, Penn National, Regulation, The Strip, Tropicana Entertainment, Wall Street
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Garber to Harrah's? Apparently not
So is former PartyGaming PLC supremo Mitch Garber going to Harrah’s Entertainment or isn’t he? As of yesterday, it appears that the company is denyinga London Times report that it had signed Garber to head up a conglomeration of its … Continue reading
Posted in Colony Capital, Harrah's, International, Internet gambling, MGM Mirage, Regulation, The Strip, World Series of Poker
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A delicate balance
Another day, a little more movement in the CityCenter situation. Well, it's that or talk about tourism and gaming revenue numbers that are too depressing to contemplate for long. Time was that the American banking industry was practically giving away … Continue reading
Posted in Colony Capital, Current, Detroit, Economy, James Packer, M Resort, MGM Mirage, Penn National, Station Casinos, The Strip, Wall Street
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MGM Mirage sells family jewels
Desperation has well and truly hit the fan at MGM Mirage. The company’s Strip casinos may not be priced to move … but it’s said to be quite a different story where MGM Grand Detroit and Beau Rivage are concerned. … Continue reading
Posted in Atlantic City, Colony Capital, Current, Detroit, Economy, Illinois, James Packer, Macau, MGM Mirage, Phil Ruffin, Sheldon Adelson, Stanley Ho, The Strip, Wall Street
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Leper Colony
Or, in lieu of "Atlantic City Death Watch VII," maybe "Colony Death Watch." Scarcely had S&G dubbed Colony Capital's East Coast casino portfolio "Colony Crapital" than came affirmation in the form of the latest set of numbers from the Boardwalk. … Continue reading
Posted in Atlantic City, Boyd Gaming, Colony Capital, Donald Trump, Economy, Harrah's, James Packer, MGM Mirage, Steve Wynn
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The end of Viva
That’s one of the implications of Colony Capital‘s potential cash infusion into CityCenter. Since Colony owns 3/4 of Station Casinos and might find itself with a big piece of CityCenter, it’s an utter certainty that it wouldn’t go along with … Continue reading
Posted in Atlantic City, Colony Capital, Goldman Sachs, International, MGM Mirage, Sports, The Strip
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The Company That Ate Itself
Perhaps it was with dry irony that the Las Vegas Review-Journal's latest Station Casinos story's subhead read, "Company blames economy, poached customers." And by whom might those customers have been poached? By Station Casinos itself! The company's imperial overreach has … Continue reading
Posted in Boulder Strip, Cannery Casino Resorts, Colony Capital, Economy, Herbst Gaming, M Resort, Station Casinos, The Strip
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Casino apocalypse
I'm deeply imbedded in other projects today. In the meantime, by way of In Business Las Vegas and GamingFloor.com (source of yesterday's Harrah's Entertainment time warp, too) here's the answer to the question, "How many casino failures can you pack … Continue reading
Posted in Boyd Gaming, Cannery Casino Resorts, Colony Capital, Cosmopolitan, Current, Economy, Harrah's, Herbst Gaming, James Packer, MGM Mirage, Sheldon Adelson, Station Casinos, Steve Wynn, The Strip, Wall Street
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Case Bets: Bank shot, Sin City Express
In today's Movable Buffet, Richard Abowitz speculates on the possible evolution (devolution?) of Las Vegas from a boomtown built on junk bonds to critical-care patient who's a ward of the banks. To Abowitz's mention of the bank-owned Cosmopolitan, I would … Continue reading
Posted in Colony Capital, Goldman Sachs, Morgans Hotel Group, Politics, Technology, Wall Street
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Station vs. Boyd III: This time it's personal
You really have to hand it to Station Casinos CEO Frank Fertitta III. This dude has more lives than a cat. Every time you think his luck has run out, he slips the noose yet again. So it was Tuesday. … Continue reading
Posted in Boulder Strip, Boyd Gaming, Colony Capital, Current, Economy, Station Casinos, The Strip, Wall Street
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This is your industry on crack
Finally, someone (in this case, Liz Benston) has written the definitive user-friendly analysis of how the casino industry crashed and burned. To try and quote the salient points would require little short of reprinting the entire article (to say nothing … Continue reading
Posted in Boyd Gaming, Colony Capital, Downtown, Economy, Harrah's, Herbst Gaming, Isle of Capri, Louisiana, MGM Mirage, Missouri, Station Casinos, The Strip, Wall Street
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Harrah's enjoys bailout
“Critics argue that the tax-law change rewards companies that took on too much leverage during the credit bubble, such as those that were bought by private-equity firms.” Sound like anybody we know? How about Harrah’s Entertainment, which played Russian roulette … Continue reading
Posted in Colony Capital, Economy, Harrah's, James Packer, Macau, Melco Crown Entertainment, MGM Mirage, Politics, Sheldon Adelson, Station Casinos, Taxes, Wall Street
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