Category Archives: Colony Capital

Palms: Maloof out, Loveman in?

Posted on January 6, 2011 by David McKee

Now that Las Vegas has fallen about as far as it can, private equity firms are picking over the city like vultures sampling carrion. Don’t get me wrong: It’s a much smarter strategy than those PE bozos who bought in … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Colony Capital, Current, Donald Trump, George Maloof, Harrah's, Marketing, MGM Mirage, Regulation, The Strip, TV, Wall Street | 9 Comments

Atlantic City’s future: “Bleak”

Posted on December 10, 2010 by David McKee

Such is the prognosis from J.P. Morgan analyst Joseph Greff after the November revenues rolled in from the Boardwalk. Basically, the double-edged sword that was table games in Pennsylvania and a casino in Philadelphia has swung, and lopped 12.5% off … Continue reading →

Posted in Alaska, Atlantic City, Boyd Gaming, Carl Icahn, Colony Capital, Cretins, Current, Dennis Gomes, Donald Trump, Economy, Entertainment, Harrah's, Marketing, Morgans Hotel Group, Movies, Neil Bluhm, Pennsylvania, The Strip, Tilman Fertitta, Tourism, Tribal, Tropicana Entertainment, TV, Wall Street | 1 Comment

Case Bets: Adelson vs. China; Cirque du Avatar? Indiana wallops Illinois

Posted on December 8, 2010 by David McKee

In a lengthy Asia Times dispatch, the reliable Muhammad Cohen runs through various scenarios about why the government of Macao would pull back two Cotai Strip™ sites from a ‘george’ investor like Las Vegas Sands. Since the acreage will probably … Continue reading →

Posted in Ameristar, Atlantic City, Cirque du Soleil, Colony Capital, Economy, Entertainment, Harrah's, Illinois, Indiana, Macau, MGM Mirage, Movies, Ohio, Penn National, Politics, Racinos, Sheldon Adelson, Stanley Ho, Steve Wynn, Tribal | 3 Comments

Good news, bad news in Atlantic City; Feinstein: “Stay on the rez!”; Buffalo Bill’s rides again

Posted on December 2, 2010 by David McKee

For once, however, it’s mostly good. Almost entirely good, in fact. The headline item is that Dennis Gomes‘ purchase of Resorts Atlantic City has cleared licensing, sweeping out the disastrous Colony Capital era. Gomes and financier Morris Bailey say $31.5 … Continue reading →

Posted in Alex Yemenidjian, Atlantic City, California, Colony Capital, Cosmopolitan, Current, Dining, Donald Trump, Economy, Harry Reid, Herbst Gaming, M Resort, Marketing, Mississippi, Morgans Hotel Group, Penn National, Politics, Regulation, Sports, Technology, The Strip, Tribal, TV | 4 Comments

Icahn’s CEO jumps ship

Posted on November 4, 2010 by David McKee

In something of a shocker, Scott Butera, CEO of Tropicana Entertainment is leaving the firm to join a rival — but undisclosed — casino company. It’s an amicable parting, judging by the fact that Butera is staying to smooth over … Continue reading →

Posted in Carl Icahn, CityCenter, Colony Capital, Columbia Sussex, Current, Detroit, Don Barden, Donald Trump, Economy, Fontainebleau, Herbst Gaming, Morgans Hotel Group, Shuffle Master, Tribal, Tropicana Entertainment, Wall Street | 4 Comments

Harrah’s on new spending spree

Posted on October 18, 2010 by David McKee

As predicted and dreaded by skeptical bond analysts, proceeds from Harrah’s Entertainment‘s semi-IPO of 17% of the company, it has been officially disclosed, will be rolled into retail therapy for CEO Gary Loveman. An anticipated $575 million will be used … Continue reading →

Posted in Colony Capital, Current, Economy, Entertainment, Fontainebleau, George Maloof, Harrah's, Ohio, Penn National, Pennsylvania, Regulation, The Strip, TV, Wall Street | 1 Comment

Atlantic City: It could have been worse; Hard Rock changes its tune

Posted on October 12, 2010 by David McKee

OK, so September’s numbers from Atlantic City only represent one month of competition from SugarHouse, in Philadelphia. However, with every other casino in Pennsylvania having enjoyed two full months of table games, a 12% dropoff isn’t as bad as I … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Colony Capital, Current, Detroit, Dining, Donald Trump, Economy, Harrah's, M Resort, Marketing, MGM Mirage, Morgans Hotel Group, Neil Bluhm, Pennsylvania, The Strip, Tropicana Entertainment | 2 Comments

Ameristar’s altruism … and so much more

Posted on October 6, 2010 by David McKee

Gaming regulators in Missouri got a little unsolicited advice from Ameristar Casinos as to where to put Casino License #13. Ameristar Vice President of Government Relations & Public Affairs Troy Stremming commissioned a study on the matter. Its shocking conclusion: … Continue reading →

Posted in Ameristar, Arizona, Atlantic City, Boyd Gaming, California, Colony Capital, Cretins, Current, Dennis Gomes, Economy, Genting, Harrah's, Horseracing, Isle of Capri, Louisiana, Macau, Marketing, MGM Mirage, Missouri, New York, Penn National, Pinnacle Entertainment, Politics, Racinos, Regulation, Sheldon Adelson, Station Casinos, Steve Wynn, Tourism, Tribal, TV, West Virginia | 5 Comments

Barrack 1, Bankers 0; Criminal stupidity

Posted on September 24, 2010 by David McKee

A skirmish over the fate of the Atlantic City Hilton ended in victory for Colony Capital. A Superior Court judge decided there were too many unresolved issues in the dissolution of Colony’s East Coast casino portfolio to warrant taking the … Continue reading →

Posted in Atlantic City, Boyd Gaming, California, Colony Capital, Columbia Sussex, Current, Economy, Harrah's, Horseracing, International, Lake Tahoe, Marketing, Massachusetts, MGM Mirage, Mississippi, Neil Bluhm, Pennsylvania, Politics, Racinos, Regulation, Sports, Station Casinos, The Strip, Tilman Fertitta, Tourism, Tribal, Wall Street | 1 Comment

Fertitta to rescue A.C. Hilton?

Posted on September 22, 2010 by David McKee

Tilman Fertitta, that is. The Landry’s Restaurants CEO has sussed out a bargain on the Boardwalk, in the form of the unprofitable Atlantic City Hilton. No doubt Fertitta’s interest has not a little something to do with the fact that … Continue reading →

Posted in Alex Yemenidjian, Atlantic City, Carl Icahn, Colony Capital, Current, Dining, Downtown, Economy, Election, Harrah's, Laughlin, Macau, MGM Mirage, Racinos, Regulation, Sheldon Adelson, Steve Wynn, Tamares Group, Tilman Fertitta, Tribal, Tropicana Entertainment | 7 Comments

Labor Day Massacre in Atlantic City

Posted on September 6, 2010 by David McKee

Heading into the weekend, Trump Entertainment Resorts continued its reorganization by sacking six top executives. They were preceded by Trump Plaza General Manager Jim Rigot, who wasn’t pushed but gave his notice a fortnight ago. One of the Trump Six, … Continue reading →

Posted in Atlantic City, Colony Capital, Columbia Sussex, Current, Don Barden, Donald Trump, Economy, Entertainment, Kansas, Neil Bluhm, Pennsylvania, The Strip, Tourism, Tropicana Entertainment, Wall Street | 1 Comment

Last Resorts? Colony wins one

Posted on August 25, 2010 by David McKee

It still looks like Resorts Atlantic City is the casino most likely to close in that market, on pace to lose nearly $22 million this year. That’s the monumental challenge facing prospective new owner Dennis Gomes. In unadjusted dollars, the … Continue reading →

Posted in Architecture, Atlantic City, Colony Capital, Economy, Goldman Sachs, Harrah's, Pennsylvania, Regulation, The Strip, Tourism, Transportation, Tribal, Wall Street | 3 Comments

Crazy from the heat?

Posted on August 23, 2010 by David McKee

As the August sun beats upon our brains like a hammer on an anvil, it seems to be rendering us soft in the noggin. Reader kerr_mudgeon has aggregated a few instances, the pages of the Los Angeles Times, which seems … Continue reading →

Posted in Atlantic City, Colony Capital, Cordish Co., Current, LVCVA, Marketing, Regulation, Tourism, Transportation | 5 Comments

Crisis point in Atlantic City

Posted on August 19, 2010 by David McKee

If nothing else gets recalcitrant legislators off their duffs and behind Gov. Chris Christie‘s intervention on behalf of Atlantic City, maybe these numbers will. In the last quarter, only four casinos turned a profit. Harrah’s Entertainment‘s Showboat and Harrah’s Marina … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Colony Capital, Donald Trump, Economy, Harrah's, Penn National, Politics, Sahara, The Strip, Tropicana Entertainment | Comments Off on Crisis point in Atlantic City

Suicidal in New Jersey

Posted on August 18, 2010 by David McKee

Atlantic City can just plain go to hell. That’s the message from several prominent — or simply loud — Democratic lawmakers who say Gov. Chris Christie‘s rescue plan for the city is spinach and to heck with it. Noisiest of … Continue reading →

Posted in Atlantic City, Colony Capital, Current, Donald Trump, Economy, Entertainment, Genting, Harrah's, Horseracing, Internet gambling, Marketing, Maryland, Minnesota, New York, Pennsylvania, Politics, Racinos, Singapore, The Strip, Tourism, Tribal, Wall Street | 2 Comments

Who needs M most?; Station’s glass jaw

Posted on August 17, 2010 by David McKee

In a shocker of a scoop, The Newspaper That Must Not Be Cited revealed yesterday that a $700 million stake in $1 billion M Resort was being shopped around by the resort’s lead banker. While this probably says more about … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, California, Carl Icahn, Colony Capital, Cosmopolitan, Current, Downtown, Economy, Kansas, M Resort, Maryland, MGM Mirage, Michael Gaughan, North Las Vegas, Ohio, Penn National, Pinnacle Entertainment, Riviera, Station Casinos, The Strip, Tourism, Tropicana Entertainment, Wall Street | 8 Comments

Rio: The final frontier?

Posted on August 13, 2010 by David McKee

Although I was hoping to keep this under wraps a few more days, reader Jeff_in_OKC connected all the dots this afternoon, so I’ll have to scoop myself. Here goes … At last week’s annual Star Trek Convention, the program contained … Continue reading →

Posted in Colony Capital, Current, Economy, Election, Entertainment, Harrah's, The Strip, World Series of Poker | 8 Comments

12 best things about the Station bankruptcy auction

Posted on August 12, 2010 by David McKee

1. Don’t have to keep “OpCo,” “PropCo” and “LandCo” straight anymore. 2. No casinos placed in receivership or shut down. 3. No more having to spell-check whether it’s Judge “Greg” or “Gregg” Zive. (It’s the latter, in case you were … Continue reading →

Posted in Boyd Gaming, Colony Capital, Current, Station Casinos, Taxes, The Strip, Tourism | 4 Comments

Atlantic City: It could be worse

Posted on August 10, 2010 by David McKee

Considering that table games were up and running in Delaware and gradually rolling out in Pennsylvania, it comes as a pleasant surprise to see that Atlantic City was only down 5% in July. Frankly, I was expecting much worse, especially … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Colony Capital, Columbia Sussex, Current, Donald Trump, Economy, Entertainment, Harrah's, Horseracing, Macau, Marketing, MGM Mirage, New York, Pansy Ho, Pennsylvania, Politics, Racinos, Regulation, Technology, Tourism, Tropicana Entertainment, Wall Street | 4 Comments

Case Bets: New Jersey; A lucky guy; Genting’s good fortune

Posted on August 9, 2010 by David McKee

Garden State Gov. Chris Christie (R-N.J.) may have excluded sports betting as a new revenue source for the state’s besieged casino industry. As expected, state Sen. Raymond Lesniak (D, left) tuned the governor out and continues to pursue legalization of … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colony Capital, Cordish Co., Current, Donald Trump, Downtown, Economy, Genting, Harrah's, International, Macau, New York, Politics, Racinos, Regulation, Singapore, Sports, Tamares Group, Tourism | 1 Comment