Category Archives: Columbia Sussex

Strip bottoming out

Posted on November 10, 2009 by David McKee

September’s Nevada gaming revenue numbers are in and the good news is that the Strip is only -4% year/year. (Strip revs were down all of ’08 but didn’t fall off the cliff until October, when they tumbled 26%.) This makes … Continue reading →

Posted in Aristocrat, Boulder Strip, Boyd Gaming, Columbia Sussex, Current, Economy, G2E, Harrah's, Herbst Gaming, International, Isle of Capri, Macau, Mesquite, Ohio, Reno, Sheldon Adelson, Stanley Ho, Station Casinos, Steve Wynn, The Strip, Tourism, Transportation, Wall Street | Comments Off on Strip bottoming out

Trouble in River City

Posted on November 9, 2009 by David McKee

In a shocking development that’s bound to set tongues a-wagging, Pinnacle Entertainment CEO Dan Lee has “resigned to pursue other business interests” (industry-speak for “Don’t let the doorknob hit you in the butt”). The buzz is that Pinnacle’s strategy was … Continue reading →

Posted in Atlantic City, Boyd Gaming, Columbia Sussex, Current, Economy, Fontainebleau, Harrah's, Louisiana, Missouri, Pinnacle Entertainment, Planet Hollywood, Politics, Regulation, Station Casinos | 8 Comments

Case Bets: ColSux, Wynn, Agassi, Lake LV, ‘Vega$’

Posted on October 30, 2009 by David McKee

Proverbial “flu-like symptoms” have me feeling light-headed and rather woozy (a delayed reaction to Wayne Newton?), for which the doctor prescribes a dosage of Case Bets … Another ColSux sale: Struggling hotelier Columbia Sussex has, for the not-inconsiderable sum of … Continue reading →

Posted in Columbia Sussex, Current, Dining, Downtown, Encore, Iowa, Lake Las Vegas, Louisiana, Oscar Goodman, Politics, Sheldon Adelson, Steve Wynn, The Strip, Tilman Fertitta, Tropicana Entertainment, TV | 3 Comments

MGM: CityCenter worth $4.88 billion

Posted on October 20, 2009 by David McKee

MGM Mirage has announced that it's writing off approximately $1.3 billion (i.e., taking an "impairment charge") against CityCenter, with $348 million of that chalked up to falling real estate values. (Some $174 million of that will apparently be fobbed off … Continue reading →

Posted in CityCenter, Columbia Sussex, Current, Economy, Kansas, MGM Mirage, Missouri, Neil Bluhm, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Regulation, Taxes, Tourism, Transportation, Wall Street | Comments Off on MGM: CityCenter worth $4.88 billion

ColSux gets smacked (again)

Posted on September 25, 2009 by David McKee

In case you've wondered whether Columbia Sussex's endgame in its interminably protracted — and often preposterous — negotiations with the Culinary Union was to provoke a strike at the Tropicana Las Vegas, the company's actions elsewhere leave little doubt. (I … Continue reading →

Posted in Alaska, Columbia Sussex, Economy, Labor, The Strip | Comments Off on ColSux gets smacked (again)

Ask Alex!

Posted on September 22, 2009 by David McKee

Tomorrow morning, I have scored some precious face time with Tropicana Las Vegas CEO Alex Yemenidjian. The ostensible topic of the media event is "Special Guest," er, Wayne Newton. But screw that. Let's find out what else is going on … Continue reading →

Posted in Alex Yemenidjian, Columbia Sussex, Entertainment, The Strip, Tropicana Entertainment, TV | Comments Off on Ask Alex!

Worst Trend Yet

Posted on September 17, 2009 by David McKee

This is the sort of bottom-feeding move you'd expect from Columbia Sussex but not from Hyatt. Suffice it to say that if casino-hotels try this cheapjack number in Atlantic City, Detroit or Las Vegas, there will be holy hell to … Continue reading →

Posted in Atlantic City, Columbia Sussex, Current, Detroit, Economy, Entertainment, Labor, Tropicana Entertainment | Comments Off on Worst Trend Yet

From the mailbag #3

Posted on September 4, 2009 by David McKee

Reader Kerr_Mudgeon writes, re the case of a Columbia Sussex executive who was the victim of age discrimination: She was 67 years old, for gosh sake! She should have taken her token (socialist) Social Security checks and gone on (fascist) … Continue reading →

Posted in Columbia Sussex, Downtown, Entertainment, Movies, TV | Comments Off on From the mailbag #3

The Yung & the heartless

Posted on August 31, 2009 by David McKee

Our good buddies at Columbia Sussex, who still maintain toeholds in the Las Vegas and Lake Tahoe markets, continue to make friends in time-honored fashion. For instance, with dicta like: “Fire the old lady in sales.” (A more detailed version … Continue reading →

Posted in Columbia Sussex, Current, Ohio | Comments Off on The Yung & the heartless

Meet the new Trop boss …

Posted on August 26, 2009 by David McKee

 … largely the same as the old boss. Tropicana Entertainment's diligent efforts to get back into the Tropicana Atlantic City have finally paid off. Thus (nearly) ends a prolonged interregnum during which no clearly superior alternativves emerged. Well … there … Continue reading →

Posted in Atlantic City, Carl Icahn, Columbia Sussex, Cordish Co., Current, Regulation, The Strip, Tropicana Entertainment | Comments Off on Meet the new Trop boss …

Quote of the Day

Posted on August 22, 2009 by David McKee

“I have been pleasantly surprised by the tremendous reservoir of good will that exists in our work force … Considering how previous administrators have neglected the property, neglected the operations and neglected the employees, it was very refreshing to find … Continue reading →

Posted in Alex Yemenidjian, Columbia Sussex, Labor, The Strip, Tropicana Entertainment | Comments Off on Quote of the Day

Saving money? Buy the Trop!

Posted on August 14, 2009 by David McKee

If you're looking for a bargain on the Strip, what about buying the Tropicana Las Vegas? The Las Vegas Review-Journal found that Onex Corp. got $440 million worth of equity (or a 61% share) for a Filene's Basement price of … Continue reading →

Posted in Alex Yemenidjian, Columbia Sussex, Current, Economy, Illinois, MGM Mirage, Phil Ruffin, Pinnacle Entertainment, The Strip | Comments Off on Saving money? Buy the Trop!

Saving money? Buy the Trop!

Posted on August 14, 2009 by David McKee

If you're looking for a bargain on the Strip, what about buying the Tropicana Las Vegas? The Las Vegas Review-Journal found that Onex Corp. got $440 million worth of equity (or a 61% share) for a Filene's Basement price of … Continue reading →

Posted in Alex Yemenidjian, Columbia Sussex, Current, Economy, Illinois, MGM Mirage, Phil Ruffin, Pinnacle Entertainment, The Strip | Comments Off on Saving money? Buy the Trop!

Carl Icahn, comedian?

Posted on August 11, 2009 by David McKee

"As a result of [Tropicana Entertainment's] continued use of the Tropicana marks in interstate commerce, the Tropicana marks have achieved fame and notoriety and are associated in the minds of consumers nationwide with a consistent level of high-quality casino, entertainment … Continue reading →

Posted in Atlantic City, Carl Icahn, Columbia Sussex, Lake Tahoe, Laughlin, The Strip, Tropicana Entertainment | Comments Off on Carl Icahn, comedian?

Aztar deal the worst ever: it's quantifiable

Posted on July 28, 2009 by David McKee

When he acquired Aztar Corp., back in 2006, Columbia Sussex CEO William J. Yung III also became one of the company’s debtors. So what’s his $36 million worth today? According to the Wall Street Journal, 100 grand or less. If … Continue reading →

Posted in Atlantic City, Carl Icahn, Columbia Sussex, Cosmopolitan, Current, Economy, Genting, Harrah's, International, Macau, Sheldon Adelson, Singapore, Stanley Ho, The Strip, Tropicana Entertainment | Comments Off on Aztar deal the worst ever: it's quantifiable

A Trop by any other name

Posted on July 27, 2009 by David McKee

Icahn Capital, which purchased the Tropicana Atlantic City for $54 million, effectively, is projecting a conservative course for the property. Any sort of expansion is being ruled out for now, due to skepticism about “green shoots” of economic recovery. Speaking … Continue reading →

Posted in Alex Yemenidjian, Atlantic City, Carl Icahn, Columbia Sussex, Current, Economy, Harrah's, Illinois, Problem gambling, The Strip, Tropicana Entertainment | Comments Off on A Trop by any other name

Double-whammy for Planet Ho

Posted on July 23, 2009 by David McKee

True, Planet Hollywood is feeling some pain in the wallet after the Nevada Gaming Commission approved a $500,000 fine. But it's Clark County Department of Business License which fired the shot across the bow that will really get the casino … Continue reading →

Posted in Columbia Sussex, Current, Downtown, Economy, Labor, MGM Mirage, Regulation, Station Casinos, The Strip, Tilman Fertitta | Comments Off on Double-whammy for Planet Ho

Trop and tribulation

Posted on July 8, 2009 by David McKee

A pair of New Jersey lawmakers are hopping mad about the costly, dubiously competent Tropicana Atlantic City trusteeship of Justice Gary Stein. The solons are particularly het up over the way Stein was feathering his own nest. "It is unacceptable, … Continue reading →

Posted in Atlantic City, Carl Icahn, Columbia Sussex, Politics, Regulation, Tropicana Entertainment | Comments Off on Trop and tribulation

Tropic(ana) of Confusion

Posted on July 2, 2009 by David McKee

News reports are at sixes and sevens of just how much of the Tropicana Las Vegas is now owned by Onex Corp. For instance, Bloomberg states that Onex's stake represents 60% of the $440 million owed on the property (or … Continue reading →

Posted in Alex Yemenidjian, Atlantic City, Columbia Sussex, Marketing, The Strip, Tropicana Entertainment | Comments Off on Tropic(ana) of Confusion

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.