Category Archives: Colony Capital

Atlantic City: Fertitta struggling, Gomes triumphing, Boyd steady

Posted on November 10, 2011 by David McKee

No surprise that Borgata remains in a class by itself among Atlantic City resorts. It finished October at 0.0% deviance from last year, as flat as “flat” can be. The lone gainer in the market was Resorts Atlantic City, up … Continue reading →

Posted in Atlantic City, Colony Capital, Current, Dennis Gomes, Detroit, Donald Trump, Economy, Genting, Harrah's, Melco Crown Entertainment, MGM Mirage, New York, Racinos, Regulation, Sheldon Adelson, Singapore, Steve Wynn, Tilman Fertitta, Tourism, Tropicana Entertainment, Wall Street | 1 Comment

Another victory like this …

Posted on November 4, 2011 by David McKee

In one of the most Pyrrhic victories in casino-industry history, Colony Capital has managed to prevent foreclosure of the former Atlantic City Hilton. But the cost of victory outweighs the gain. Colony got itself out of this scrape by giving … Continue reading →

Posted in Colony Capital, Current, Dennis Gomes, Genting, Mississippi, New York, Politics, Racinos, Regulation, Tilman Fertitta, Wall Street | 1 Comment

Quote of the Day

Posted on November 3, 2011 by David McKee

“Goldman Sachs Mortgage Co. is willing to dump funds into the property.” — attorney Bud Hicks, using a most inadvisable phrase with regard to the struggling Las Vegas Hilton. Goldman is trying to oust majority owner Colony Capital and place … Continue reading →

Posted in Colony Capital, Goldman Sachs | 1 Comment

Domino effects

Posted on October 31, 2011 by David McKee

“Prior to the official opening, a 60-minute opening ceremony was held outside of the main entrance to the casino, where local and state politicians patted each other on the back for finally getting the casino opened, a mere 10 years … Continue reading →

Posted in Atlantic City, Colony Capital, Culinary Union, Current, Detroit, Economy, Election, Florida, Harrah's, Horseracing, Isle of Capri, Kentucky, Maine, Massachusetts, MGM Mirage, Politics, Problem gambling, Racinos, Regulation, Singapore, Slot routes, Taxes, Tourism, Tribal | 1 Comment

iTrump, scandal, Sachs and tax

Posted on October 21, 2011 by David McKee

Cyber-Trump. Faux ex-presidential candidate and NBC-TV comedy star Donald Trump has made his views known on Internet gambling … like anybody cares. Prepare for a shocker, folks. The Donald is — Gasp! — in favor of it. There was, of … Continue reading →

Posted in Alabama, Atlantic City, Carl Icahn, Colony Capital, Cretins, Culinary Union, Current, Detroit, Don Barden, Economy, Election, Goldman Sachs, Harrah's, Internet gambling, MGM Mirage, Station Casinos, Steve Wynn, Taxes, The Strip, Tourism | 1 Comment

As the foreclosure turns …

Posted on October 3, 2011 by David McKee

Although its cash flow improved 47% this year to date, Hooters Casino Hotel continues to dribble red ink — losses incurred, in part, by its ongoing bankruptcy soap opera. And although it has close to $10 million in the till, … Continue reading →

Posted in Colony Capital, Goldman Sachs, IGT, The Strip, Wall Street | Comments Off on As the foreclosure turns …

Sheldon Adelson, casino opponent

Posted on September 23, 2011 by David McKee

You read that right: El Bombastico has developed a sudden concern that adding 9,000 slots to Florida‘s existing inventory of 15,000 “will saturate the market with too many games,” in the words of the Miami Herald. In other words, there … Continue reading →

Posted in Architecture, Atlantic City, Colony Capital, Columbia Sussex, Current, Economy, Florida, Genting, Regulation, Singapore, Taxes, Tribal, Tropicana Entertainment | 1 Comment

A Stern glance

Posted on September 19, 2011 by David McKee

Posthumous congratulations to Martin Stern Jr. (1917-2001), father of the vertically integrated casino resort. He will be the recipient of the annual Jay Sarno Award at this year’s Global Gaming Expo. The choice of Stern has been such a closely … Continue reading →

Posted in Architecture, Colony Capital, Cosmopolitan, Current, G2E, Harrah's, MGM Mirage, Sahara | Comments Off on A Stern glance

At long last, Octavius; Power plays at Hilton, Beso

Posted on September 14, 2011 by David McKee

Good news for whales and business travelers: The long-in-abeyance Octavius Tower at Caesars Palace has been finished inside and out, and will open for business on Jan. 2, 2012. The ginormous, high-tech hotel rooms are perfect for the customer with … Continue reading →

Posted in Atlantic City, California, CityCenter, Colony Capital, Current, Dining, Goldman Sachs, Harrah's, Internet gambling, The Strip, Tilman Fertitta, Tourism | 1 Comment

Boardwalk brinkmanship

Posted on September 13, 2011 by David McKee

As the hours tick away toward this week’s expiration of labor agreements at nine Atlantic City casinos, managements are all but daring Culinary Union parent Unite Here to strike. Caesars Entertainment had the brass to declare it was continuing “to … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colony Capital, Culinary Union, Current, Dennis Gomes, Detroit, Economy, Harrah's, International, Internet gambling, Marketing, MGM Mirage, Neil Bluhm, Pennsylvania, Racinos, Regulation | 2 Comments

Who says irony is dead?

Posted on September 9, 2011 by David McKee

Las Vegas Review-Journal newshound Norm(!) Clarke reports that, in January, the Nevada Ballet Theater‘s annual honoree will be … wait for it … Eva Longoria. What a concept: Fail miserably at business, get an award! S&G looks forward to future … Continue reading →

Posted in Charity, CityCenter, Colony Capital, Cosmopolitan, Fontainebleau, James Packer, Lyle Berman, MGM Mirage, Morgans Hotel Group, Sports | Comments Off on Who says irony is dead?

You can take the executive out of the casino …

Posted on August 30, 2011 by David McKee

… but you can’t take the casino out of the executive. Case in point, Smith Center for the Performing Arts Chairman Donald Snyder, former prexy of Boyd Gaming. One of the odder components of the $425 million multipurpose venue, known … Continue reading →

Posted in Boyd Gaming, Colony Capital, Cosmopolitan, Current, Downtown, Entertainment, Harrah's, Marketing, Station Casinos, The Strip | Comments Off on You can take the executive out of the casino …

Caruso sings, Lerner hallucinates

Posted on August 29, 2011 by David McKee

Since I had one foot out the door en route to Albany when Caesars Entertainment held its Rick Caruso-led media blitz on Project Linq, I’m a bit late to the party. Some of my early reactions can be heard on … Continue reading →

Posted in Architecture, Boyd Gaming, Carl Icahn, CityCenter, Colony Capital, Current, Dining, Downtown, Economy, Entertainment, Fontainebleau, Harrah's, MGM Mirage, Sahara, Station Casinos, The Strip, Tourism, Transportation, Wall Street | 3 Comments

Thaw in Massachusetts? Hilton has left the building

Posted on August 25, 2011 by David McKee

After screwing the pooch in the previous legislature, it looks as though Gov. Deval Patrick (D-MA) and state lawmakers are finally on the same page regarding casino expansion in the Bay State. Analyst Joseph Greff rates the solons’ chances of … Continue reading →

Posted in Atlantic City, Bally Technologies, Colony Capital, Current, Economy, Genting, Horseracing, IGT, Isle of Capri, Kansas, Marketing, Maryland, Pennsylvania, Politics, Racinos, Regulation, Singapore, Taxes, The Strip, Tourism, Tribal, Wall Street, Warner Gaming, WMS Industries | 2 Comments

Pain in the ACH

Posted on August 12, 2011 by David McKee

In the shrinking Atlantic City market, where most of the casinos are operating in the red, it was inevitable that one or two of the so-called “parasitic” ones would bite the dust. While the ex-Atlantic City Hilton (preposterously rebranded as … Continue reading →

Posted in Atlantic City, Colony Capital, Dennis Gomes, Donald Trump, Harrah's, history, Marketing, Mississippi, Penn National, Regulation, Tilman Fertitta, Tribal | 3 Comments

Hilton: worse than it looks

Posted on August 12, 2011 by David McKee

In the cold light of day (i.e., Chris Sieroty‘s Review-Journal coverage), the situation at the Las Vegas Hilton appears still more dire … if such a thing is possible. Remember that roughly a third of the LVH is owned by … Continue reading →

Posted in Atlantic City, Carl Icahn, Colony Capital, Economy, Goldman Sachs, Lake Tahoe, Laughlin, The Strip, Tropicana Entertainment, Wall Street | 2 Comments

Colony craps out again

Posted on August 10, 2011 by David McKee

Gaming’s Mr. Magoo, the disaster-prone CEO of Colony Capital, Tom Barrack has done it again. The Las Vegas Hilton has defaulted on one of its loans (again), a too-familiar revelation where a Colony-owned property is concerned. Although it lost $1 … Continue reading →

Posted in Colony Capital, Cretins, Current, Dining, Economy, Entertainment, Goldman Sachs, The Strip, Wall Street | 1 Comment

Casino Cacophony

Posted on August 4, 2011 by David McKee

As my growing freelance workload continues to limit my S&G time, I’m happy to yield the floor to University of South Carolina journalism professor — and frequent Vegas visitor — Augie Grant, who has another guest contribution to make. I … Continue reading →

Posted in Architecture, Colony Capital, Cosmopolitan, Entertainment, Technology, The Strip | 3 Comments

ACH-ooo!; The Admiral’s last voyage

Posted on July 1, 2011 by David McKee

For the second time in a week, Hilton Hotels & Resorts has stripped its name from a Colony Capital casino-hotel. First to go was the Las Vegas Hilton, to be known next year as [your logo here]. Today comes news … Continue reading →

Posted in Atlantic City, California, Colony Capital, Columbia Sussex, Current, Dennis Gomes, Economy, Harrah's, history, Macau, MGM Mirage, Missouri, Pinnacle Entertainment, Regulation, Sheldon Adelson, Station Casinos, Steve Wynn, The Strip, Tourism, Tribal, Wall Street | 1 Comment

Atlantic City on the mend; Trump: Fish or cut bait?; Mike Ensign’s woes

Posted on May 25, 2011 by David McKee

My apologies for attenuated bloggery today but a swarm of deadlines presses upon me, including coverage of the demise of 104-year-old Huguette Clark, daughter of Sen. William A. Clark, from whom Clark County takes its name. You’ll find a lengthy … Continue reading →

Posted in Alex Yemenidjian, Architecture, Atlantic City, Boyd Gaming, Carl Icahn, Charity, CityCenter, Colony Capital, Current, Dan Lee, Dennis Gomes, Donald Trump, Downtown, Economy, Election, Environment, Harrah's, history, Isle of Capri, Marketing, MGM Mirage, Missouri, Penn National, Pinnacle Entertainment, Planet Hollywood, Regulation, Sheldon Adelson, Steve Wynn, The Strip, Tilman Fertitta, Wall Street | 4 Comments