Category Archives: Current

Goodbye IGT, hello Gtech

Posted on July 16, 2014 by David McKee

Early this morning, International Game Technology announced it had been acquired by Gtech, an Italian company specializing in lotteries. The terms of the deal include the assumption of $1.7 billion in debt and the payment of $4.7 billion in cash. … Continue reading →

Posted in Bally Technologies, Current, Economy, GTECH, IGT, Scientific Games, Shuffle Master, Wall Street, WMS Industries | Comments Off

Soft landing in A.C.; “Nocturne” put to sleep

Posted on July 14, 2014 by David McKee

Internet-gaming revenue continues to slip in New Jersey, down 9% from May. There are only three players of consequence: Borgata (36.5%), Caesars Atlantic City (27%) and Tropicana Atlantic City (18%). Still, Internet gambling continues to provide a cushion for the … Continue reading →

Posted in Atlantic City, Boyd Gaming, California, Cosmopolitan, Current, Entertainment, Harrah's, Internet gambling, Mohegan Sun, Revel, Sam Nazarian, Steve Wynn, The Strip, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts, Wall Street | Comments Off

Lean and hungry in the Midwest

Posted on July 8, 2014 by David McKee

It’s difficult to find new things to say about Illinois, where the saga has become sadly familiar. Another month, another 11% decline. Even players’ darlings Rivers Casino (-4%) and Jumer’s Rock Island Casino (right, -14%) struggled. However, by some miracle, … Continue reading →

Posted in Boyd Gaming, Current, Harrah's, MGM Mirage, Neil Bluhm, Ohio, Penn National, Pinnacle Entertainment, Tropicana Entertainment | 1 Comment

Revel’s death spiral; Piling into N.Y.

Posted on July 2, 2014 by David McKee

Having filed for bankruptcy a second time, Revel Casino Hotel is trying hard to stay off the auction block. Maybe not hard enough: A $300 million price tag is too rich for Caesars Entertainment‘s blood or even flush Hard Rock … Continue reading →

Posted in Atlantic City, Churchill Hill, Cordish Co., Current, Genting, Hard Rock International, Harrah's, Mohegan Sun, Neil Bluhm, Penn National, Revel, Taxes, Wall Street | Comments Off

The ultimate irony; No luck for Argosy; Borgata lawsuit tossed

Posted on June 26, 2014 by David McKee

States have, one after another, approved casino gambling to help prop up their own finances. Now, with crushing irony, Delaware is going from being subsidized by racinos to subsidizing them. Gov. Jack Markell (D) still can’t drum up the support … Continue reading →

Posted in Atlantic City, Boyd Gaming, Current, Delaware, Harrah's, Iowa, Maryland, Penn National, Racinos, Regulation, Taxes | 2 Comments

May challenging for Iowa, disastrous for Illinois

Posted on June 6, 2014 by David McKee

At present, the Iowa Racing & Gaming Commission is mulling whether to put a casino in relatively isolated (see video) Jefferson. While they’re weighing that Wild Rose Entertainment project, here’s something else to ponder: The latest set of revenue numbers … Continue reading →

Posted in Ameristar, Boyd Gaming, Current, Economy, Harrah's, Illinois, Iowa, Isle of Capri, MGM Mirage, Neil Bluhm, Penn National, Pinnacle Entertainment, Regulation, Slot routes | Comments Off

Las Vegas, Wranglers both grounded

Posted on April 16, 2014 by David McKee

Reports of Las Vegas‘ rebirth have been greatly exaggerated … or so the Brookings Institute‘s Mountain Monitor tells us. True, job growth was second only to Phoenix‘s, at almost 1% and double the regional average. Most of that growth, however, … Continue reading →

Posted in Current, Economy, Sports, Tamares Group | Comments Off

Tropicana Bethlehem?; One acre and a casino

Posted on April 10, 2014 by David McKee

Las Vegas Sands‘ waving of the white flag over its Sands Bethlehem casino may have finally yielded a buyer. Having stated publicly, however, that $1 billion was the asking price may have limited Sands flexibility to negotiate (not to mention … Continue reading →

Posted in Alabama, Cannery Casino Resorts, Carl Icahn, Current, Florida, New Hampshire, Pennsylvania, Sheldon Adelson, South Carolina, Tribal, Tropicana Entertainment | 1 Comment

Mississippi casino dream deferred; Empire State on schedule

Posted on April 1, 2014 by David McKee

Update: Rotate Black failed to make the cutoff date for Hemingway Casino (below), meaning the property will go back on the market, Rotate Black never having paid for its option. It is still contemplated as a future casino site. D’Ibreville, … Continue reading →

Posted in Current, Mississippi, New York, Regulation | Comments Off

High rolling

Posted on April 1, 2014 by David McKee

Las Vegas has its newest icon and the local media are duly wowed. The Review-Journal hauled out a stock of familiar superlatives — “stylish … trendy … hip.” The Las Vegas Sun wasn’t much more restrained. Then there was passenger … Continue reading →

Posted in Current, Dining, Entertainment, Harrah's, The Strip | Comments Off

Quote of the Day

Posted on March 20, 2014 by David McKee

“I am always writing about the period we’re in, and sometimes I’m telling people things they don’t want to hear. … The economy, the Internet—all these things are isolating us and making us feel defeated. Our national culture feels defeated, … Continue reading →

Posted in Current, TV | Comments Off

‘Pawn Shop’ moves to Strip

Posted on March 14, 2014 by David McKee

If you haven’t seen Pawn Shop Live! at the Golden Nugget, you’ve still got a couple of weeks to do so but on April 17 it reopens at the Riviera. Don’t go expecting a stage version of Pawn Stars. Directed … Continue reading →

Posted in Current, Downtown, Entertainment, Riviera, The Strip, Tilman Fertitta, TV | Comments Off

Adelson: Sore winner; Good news from Atlantic City

Posted on March 12, 2014 by David McKee

Macao’s 2013 casino haul of $45 billion seems pretty mind-boggling on its own merits. That number could be $115 billion by 2018. Much of that growth will be driven by post-2015 projects of Melco Crown Entertainment and Galaxy Entertainment Group. … Continue reading →

Posted in Atlantic City, Boyd Gaming, Current, Donald Trump, Harrah's, Internet gambling, Macau, Melco Crown Entertainment, Mohegan Sun, Revel, Sheldon Adelson, The Strip, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts, Wall Street | 2 Comments

Caesars sells … to itself

Posted on March 3, 2014 by David McKee

Our friends Big Caesars and Little Caesars are back in the news again. Caesars Growth Partners (Little Caesars) has agreed to spend $2.2 billion to obtain Bally’s Las Vegas, The Cromwell, The Quad and Harrah’s New Orleans. The price includes … Continue reading →

Posted in Current, Election, Harrah's, Louisiana, Macau, Sheldon Adelson, The Strip, Tribal, Wisconsin | 2 Comments

Stupid player tricks & other Case Bets

Posted on February 26, 2014 by David McKee

What do you do if the cops try to bust you for having $115K in phony casino chips (allegedly)? Throw them in the nearest body of water, naturally. “Fortunately for police, the chips floated.” Vuong Q. Truong and wife Rosa A. Nguyen supposedly … Continue reading →

Posted in Cordish Co., Cretins, Current, Japan, Lawrence Ho, Macau, Maryland, Melco Crown Entertainment, Mississippi, Penn National, Sheldon Adelson, Stanley Ho | Comments Off

Revere: Mohegan Sun rising in the east; Dose of reality in New Jersey

Posted on February 26, 2014 by David McKee

Election results are in from Revere, where Suffolk Downs and Mohegan Sun are partnering to build a racino. It wasn’t even close. Casino opponents were heavily outspent and, in the end, heavily outvoted, being crushed in a landslide, 63% to … Continue reading →

Posted in Atlantic City, Cordish Co., Current, Economy, Election, Greenwood Racing, Internet gambling, Massachusetts, Mohegan Sun, Penn National, Taxes, Tribal | Comments Off

Florida: Go big or go home

Posted on February 25, 2014 by David McKee

It’s casino expansion time again in Florida, where a major change of the status quo has been unveiled in the state Senate. Pending local approval, Miami-Dade County would get one megaresort (minimum investment: $2 billion) and Broward County would get … Continue reading →

Posted in Boyd Gaming, Current, Donald Trump, Florida, Genting, Politics, Racinos, Regulation, Sheldon Adelson, Tribal | Comments Off

Time running for Atlantic City; Adelson’s scurrility

Posted on February 12, 2014 by David McKee

After a quarterly hiatus, it seems time to start covering Atlantic City again. The headline item is a $9.5 million gross from Internet gambling. At that rate, online gambling isn’t going to be a game-changer and, indeed, the Boardwalk was … Continue reading →

Posted in Boyd Gaming, Current, Economy, Harrah's, Internet gambling, Mohegan Sun, Penn National, Sheldon Adelson, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts | 2 Comments

2/11

Posted on February 12, 2014 by David McKee

Sheldon Adelson is not an easy man to like, let alone defend. (His attacks upon the First Amendment have seen to that.) But, upon further reflection, the Feb. 11 assault on his corporate Web sites causes one to reluctantly take … Continue reading →

Posted in Current, Internet gambling, Pennsylvania, Politics, Sheldon Adelson | 2 Comments

The Midwest: First the good news …

Posted on February 10, 2014 by David McKee

Casino revenue in the Buckeye State vaulted 56%, as several new racinos came on line. The not such good news is that Ohio casinos are merrily cannibalizing themselves, down 16% on a year/year basis. Hollywood Columbus, in particular, continues to … Continue reading →

Posted in Boyd Gaming, Current, Hard Rock International, Harrah's, Illinois, Indiana, Iowa, Isle of Capri, MGM Mirage, Missouri, Neil Bluhm, Ohio, Penn National, Pinnacle Entertainment, Politics, Racinos, Wall Street | 1 Comment