Category Archives: Current

Rock in Rio flops; Tighter slots in Maryland?

Posted on June 17, 2015 by David McKee

According to Vital Vegas, the first Strip outing of Rock in Rio might be its last, as the music festival may have lost as much as $28 million. Vital Vegas puts attendance at a dreadful 130,000 (out of a possible … Continue reading →

Posted in Australia, Cordish Co., Current, Entertainment, Florida, Harrah's, International, Japan, Macau, Maryland, MGM Mirage, Pets, Philippines, Politics, Racinos, Regulation, Singapore, South Korea, The Strip, Tourism, Tribal | Comments Off

Quote of the Day

Posted on March 26, 2015 by David McKee

“These guys don’t know a Manolo Blahnik from a … flip flop.” — Elaine Wynn, expressing her opinion of the Wynn Resorts board of directors.

Posted in Current, Steve Wynn | Comments Off

What’s Pinnacle worth?; Trump dump

Posted on March 18, 2015 by David McKee

J.P. Morgan analyst Joseph Greff has been running the numbers on Gaming & Leisure Properties‘ hostile-takeover bid for Pinnacle Entertainment and concluded — no surprise — that the current offer won’t get the deal done, even if Pinnacle leadership will … Continue reading →

Posted in Boyd Gaming, Current, Donald Trump, GLPI, MGM Mirage, Penn National, Pinnacle Entertainment, TV, Wall Street | 1 Comment

Caesars wins big

Posted on January 28, 2015 by David McKee

Ruling earlier than expected, U.S. Bankruptcy Court Judge Kevin Gross handed Caesars Entertainment a massive, possibly decisive victory in its bankruptcy fight, transferring the case from Wilmington to Chicago. Gross ruled that Caesars, despite some behavior that “on its face … Continue reading →

Posted in Current, Delaware, Harrah's, Illinois, Wall Street | 1 Comment

Turning point for Illinois?; Cuomo creates a mess

Posted on January 7, 2015 by David McKee

Santa Claus was extra generous to casinos in Illinois last month (and they sure could use a little Kringle largesse). Revenues grew to 6%, visitation was up 5% and spend per visitor rose 1%. All that added up to a … Continue reading →

Posted in Boyd Gaming, Current, Economy, Foxwoods, Hard Rock International, Harrah's, Illinois, MGM Mirage, Mohegan Sun, Neil Bluhm, New York, Penn National, Wall Street | 1 Comment

Much ado about Harmon

Posted on December 16, 2014 by David McKee

After endless months of maneuvering and legal posturing, MGM Resorts International and Tutor Perini arrived at a settlement on what was to have been the opening day of an epic trial. (That’s seven weeks of jury selection down the drain.) The case … Continue reading →

Posted in CityCenter, Current, Entertainment, Hard Rock Hotel, Harrah's, International, MGM Mirage, Morgans Hotel Group, The Strip, Wall Street | Comments Off

Migratory patterns in Atlantic City

Posted on December 12, 2014 by David McKee

Considerably less casino revenue continues to flow into Atlantic City, down 13% last month, but it’s not all bad. Thanks to the whale-sized “market correction” of multiple casino closings, there continues to be more money for everybody who’s left. October’s … Continue reading →

Posted in Atlantic City, Boyd Gaming, Current, Economy, Harrah's, Mohegan Sun, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts | 1 Comment

Indiana giveth, Ohio taketh away; Atlantic City fix finds wide support

Posted on December 9, 2014 by David McKee

Depending on whether or not you count free play as taxable revenue, Indiana was down 6% or 7% last month, with customers spending 3% more but visiting 9.5% less. Penn National Gaming‘s Hollywood Lawrenceburg took cross-border competition particularly hard, falling … Continue reading →

Posted in Atlantic City, Boyd Gaming, Current, Harrah's, Indiana, Kentucky, Ohio, Penn National, Pinnacle Entertainment, Politics, Sheldon Adelson, Taxes, Tropicana Entertainment | 1 Comment

Hope on the Boardwalk

Posted on November 13, 2014 by David McKee

Down four casinos and counting, Atlantic City suffered a 9% dip last month but a 14% gain on a same-store basis. A 13% fall in slot win and a 12% decline in coin-in seems to have driven the slippage: In … Continue reading →

Posted in Atlantic City, Boyd Gaming, Current, Harrah's, Internet gambling, MGM Mirage, Mohegan Sun, PokerStars, The Strip, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts | 1 Comment

Seminole talks to restart; Churchill Downs’ big play

Posted on November 13, 2014 by David McKee

Now that he’s assured of four more years, Florida Gov. Rick Scott (R) can tidy up some unfinished business … like compact negotiations with the Seminole Tribe. The $1 billion/five-year deal currently before the two parties would reward that tribal … Continue reading →

Posted in California, Churchill Downs, Current, Florida, Genting, Hard Rock International, Internet gambling, Racinos, Regulation, Sheldon Adelson, Tribal, Wall Street | Comments Off

Caesars, the morning after

Posted on November 12, 2014 by David McKee

It’s been a day since Bloomberg News broke the story that Caesars Entertainment is gearing up for a Jan. 14 bankruptcy filing, the day Gary Loveman promised would never come. (By filing on the 14th, Caesars avoids paying $225 million … Continue reading →

Posted in Current, Harrah's, International, Regulation, Wall Street | 1 Comment

Showman Steve; Who’ll take Bucharest?

Posted on November 6, 2014 by David McKee

Rather than hire out entertainment for his Wynncore showroom (the one not occupied by Le Reve), Steve Wynn has taken a DIY approach. He’s producing and co-writing Showstoppers, a revue of some of the most iconic songs from Broadway musicals. … Continue reading →

Posted in Cirque du Soleil, Columbia Sussex, Cordish Co., Current, Entertainment, Genting, Harrah's, International, Kentucky, Maryland, Penn National, Sports, Steve Wynn, The Strip | Comments Off

Boyd impresses the Street, MGM disappoints

Posted on October 31, 2014 by David McKee

Boyd Gaming pleased Wall Street with its 3Q14 results, of which Joseph Greff of J.P. Morgan said “margin improvement was notable and impressive.” He noted modest growth in the Las Vegas locals and downtown segments and better-than-expected regional numbers, as … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, Current, Downtown, Economy, Environment, Genting, Hawaii, Macau, MGM Mirage, Reno, Sam Nazarian, The Strip, Wall Street | Comments Off

A renaissance for Atlantic City?

Posted on October 17, 2014 by David McKee

If Gary Green set out to stir debate with his Casino Journal polemic on Atlantic City, he could hardly have succeeded better. For Green, the glass is considerably more than half-full and the Boardwalk is “healthy, viable and sound.” In … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colony Capital, Current, Economy, Glenn Straub, Harrah's, Maryland, MGM Mirage, Revel, Trump Entertainment Resorts, Wall Street | Comments Off

Scandal brushes Wynn Boston

Posted on October 3, 2014 by David McKee

Federal and Massachusetts state authorities have filed charges against three men who sold land to Wynn Resorts for its Everett casino project. Mob associate Charles Lightbody, Anthony Gattineri and Dustin DeNunzio have been indicted on a spectrum of felonies that include … Continue reading →

Posted in CityCenter, Current, Massachusetts, MGM Mirage, Mohegan Sun, Regulation, Steve Wynn, The Mob, The Strip | Comments Off

When a loss is a gain

Posted on September 12, 2014 by David McKee

Come this time next month, we could easily be reporting year/year gains in Atlantic City. Last month, as Revel and Showboat were winding down operations, the Boardwalk was only 1% off last year’s pace. Internet gambling played a role in … Continue reading →

Posted in Atlantic City, Carl Icahn, Current, Economy, Harrah's, Internet gambling, Mohegan Sun, New York, Revel, Tilman Fertitta, Trump Entertainment Resorts | 1 Comment

The Macanese squeeze

Posted on August 5, 2014 by David McKee

“Everyone has got dealers and waitresses and cooks and housekeeping and we all got them from the same place … what do you think is going to happen 18 months from now? Exactly the same thing.” That’s the sound of … Continue reading →

Posted in Architecture, Current, Macau, Regulation, Sheldon Adelson, Steve Wynn, Tribal, Wisconsin | Comments Off

MGM beats the Street; The wrath of Loveman

Posted on August 5, 2014 by David McKee

Not only did MGM Resorts International swing from a loss to a profit in 2Q14, its revenues exceeded Wall Street’s expectations. Analyst consensus foresaw $0.10/share in earnings and MGM delivered more than twice that. Revenues at every MGM property were … Continue reading →

Posted in Architecture, CityCenter, Current, Detroit, Harrah's, Illinois, Macau, Maryland, Mississippi, Neil Bluhm, The Strip, Wall Street | 1 Comment

Shakeup at Downtown Grand

Posted on July 31, 2014 by David McKee

I’ll be staying at the Downtown Grand this weekend and it looks like I won’t be the only novitiate. Ownership has installed a new management team, too, casting a wide net. CFO Marie Ramsey comes over from the Tropicana Las … Continue reading →

Posted in Boyd Gaming, Cordish Co., Current, Delaware, Downtown, Harrah's, history, MGM Mirage, New York, Racinos, Riviera, Sheldon Adelson, Station Casinos, The Strip | Comments Off

Reversal in Phoenix; Flame out

Posted on July 17, 2014 by David McKee

So noxious to some in the Phoenix area is the idea of a Tohono O’odham Nation casino that Arizona‘s congressional delegation has actually tried to get a special law passed to stop it. For five and a half years, the Tohono … Continue reading →

Posted in Arizona, Current, Dining, Downtown, Environment, Politics, Tribal, Westgate LV | Comments Off