Category Archives: Current

Case Bets: New York, Wynn, Packer, Atlantic City & Reno

Posted on October 30, 2013 by David McKee

In a positive omen for Tuesday’s casino vote in New York, shares of Castkills-based Empire Resorts (NYNY) leapt 29%, closing at $5.30/share. The company hopes to bring casino gambling to the Concord Hotel, although jostling for the probable two Catskills … Continue reading →

Posted in Atlantic City, California, Current, Genting, Harrah's, Illinois, International, James Packer, Melco Crown Entertainment, New York, Reno, Slot routes, Station Casinos, Steve Wynn, Tribal | 4 Comments

Fail, Caesar!

Posted on October 29, 2013 by David McKee

In ancient Rome, if you’d lost the equivalent of three-quarters of a billion dollars (worse: $761 million and change, plus flat revenues), you’d swig some hemlock, open a vein or maybe fall on your sword. But the only thing more … Continue reading →

Posted in Atlantic City, Current, Harrah's, Macau | Comments Off on Fail, Caesar!

New casino in Alabama; Potential new scrutiny for Caesars; Second thoughts for Walker?

Posted on October 25, 2013 by David McKee

Alabama Attorney General Luther Strange is throttling the life out of the Cotton State’s electronic bingo industry. But, thanks to tribal sovereignty, the Poarch Band of Creek Indians has been able to this to its advantage. When Wind Creek Wetumpka … Continue reading →

Posted in Alabama, Current, Harrah's, Maryland, Massachusetts, Regulation, Tribal, Wisconsin | Comments Off on New casino in Alabama; Potential new scrutiny for Caesars; Second thoughts for Walker?

War of words in N.Y.; Double standard in Illinois

Posted on October 25, 2013 by David McKee

After keeping a low profile for most of election season, pro-casino forces sprang into gear, rolling out a bevy of TV ads. In an attempt to neutral potential hostility downstate, one commercial points out that New York City‘s two mayor … Continue reading →

Posted in Atlantic City, Current, Detroit, Economy, Election, Illinois, New York, Politics, Problem gambling, Regulation, Slot routes, Taxes | Comments Off on War of words in N.Y.; Double standard in Illinois

Quote of the Day

Posted on October 24, 2013 by David McKee

“Interesting time for joke-telling, given the fact this deal fell through because of a Gansevoort partner being tied to Russian organized crime. But, hey, what’s a little underworld connection between friends.” — Vital Vegas, commenting on Gansevoort Hotel Group‘s official … Continue reading →

Posted in Current, Harrah's, The Strip | Comments Off on Quote of the Day

One scandal in 141 seconds

Posted on October 23, 2013 by David McKee

For those of you who want to catch up quickly on the Florida dragnet that snared dozens of Internet betting parlors in a scandal, here’s a one-shot primer.

Posted in Current, Florida, Internet gambling, Regulation | Comments Off on One scandal in 141 seconds

Tragedy on the Strip

Posted on October 21, 2013 by David McKee

Proving that there is no grudge too trivial to be settled by gunplay, a would-be patron of Drai’s allegedly shot two Bally’s Las Vegas security guards and killed a club patron after “demanding a refund because the club wasn’t full.” … Continue reading →

Posted in Current, Harrah's, The Strip | Comments Off on Tragedy on the Strip

What’s Steve Wynn thinking?; Best news of the week

Posted on October 18, 2013 by David McKee

If Steve Wynn is trying to talk himself out of contention in Massachusetts, he’s doing a good job of it. Yesterday, he told the Massachusetts Gaming Commission, “We’re scared to death — not that you won’t pick us, but that … Continue reading →

Posted in ABBA, Alex Yemenidjian, Current, Election, Entertainment, Macau, Massachusetts, MGM Mirage, New York, Regulation, Steve Wynn, The Strip | 2 Comments

The bill that wouldn’t die; Taking a wrecking ball to “Jubilee!”

Posted on October 17, 2013 by David McKee

Illinois legislators continue to butt their heads against Gov. Pat Quinn‘s opposition to casino expansion (and a terrible gambling economy). Impervious to reality, state Rep. Robert Rita (D) is introducing yet another bill for five casinos and airport slot routes. … Continue reading →

Posted in Current, Economy, Entertainment, Harrah's, Illinois, Macau, Mississippi, Ohio, Penn National, Politics, Stanley Ho, The Mob, The Strip | Comments Off on The bill that wouldn’t die; Taking a wrecking ball to “Jubilee!”

Quote of the Day

Posted on October 17, 2013 by David McKee

[W]e find the results to be somewhat indicative of regional gaming operators beginning to see problems cutting expenses to mitigate top line headwinds. As such, we anticipate concerns surrounding top line regional gaming revenue trends to escalate and believe regional … Continue reading →

Posted in Current, Economy, Penn National, Wall Street | Comments Off on Quote of the Day

Domino Theory

Posted on October 16, 2013 by David McKee

While sledgehammers were pointlessly falling on a slot machine in Albany (see below), a far more important melodrama was playing out nearby. Bankruptcy lawyer Eric Snyder had sought to block Proposal One, on the grounds that its language is too … Continue reading →

Posted in Current, Economy, Election, New York | Comments Off on Domino Theory

Quote of the Day

Posted on October 15, 2013 by David McKee

“The critics would prefer the good old days, when the only way to satisfy the urge was to make the expensive journey to Sin City, Nev. Ever since legal gambling began proliferating, they’ve been crying wolf. But in stark contrast … Continue reading →

Posted in Current | Comments Off on Quote of the Day

End of an era; Boyd needs to do better

Posted on October 11, 2013 by David McKee

Family owned casinos continue to become a thing of the past. Latest casualty: John Ascuaga’s Nugget, an icon of the Reno-Sparks market. The Ascuagas are giving way to out-of-state owner Husky Finance and operator Global Gaming & Hospitality, whose principals include the … Continue reading →

Posted in Boyd Gaming, Cretins, Current, Economy, Reno | Comments Off on End of an era; Boyd needs to do better

New life for EuroVegas?; Trailer Station rides again;

Posted on October 10, 2013 by David McKee

Sheldon Adelson may have charmed out a back-door exemption to Spain‘s antismoking policy. The national government is drafting legislation that would give provinces wiggle room where the ban is concerned. Which means that Madrid could go ahead and give Adelson … Continue reading →

Posted in Current, Downtown, Environment, Hard Rock International, International, Macau, Sheldon Adelson, Station Casinos, Tribal, Wisconsin | Comments Off on New life for EuroVegas?; Trailer Station rides again;

And the winner is … Borgata; Black eased out; Kudos to Sands

Posted on October 10, 2013 by David McKee

Leading the field, Borgata received New Jersey‘s first Internet-gambling license and will begin test play on Nov. 21. Congratulations to Boyd Gaming and partner bwin.party for having their ducks in a row. Understated Borgata prexy Tom Ballance, “It’s always nice … Continue reading →

Posted in Atlantic City, Boyd Gaming, Current, Internet gambling, Massachusetts, Mesquite, Michael Gaughan, Pennsylvania, Sheldon Adelson, Tribal | Comments Off on And the winner is … Borgata; Black eased out; Kudos to Sands

Quote of the Day

Posted on October 9, 2013 by David McKee

“People just can’t believe the government can be as immature as they seem to be acting right now. We’re just hoping that adults get into the room and get something done.” — MGM Resorts International CEO Jim Murren, during a Bloomberg … Continue reading →

Posted in Current, MGM Mirage, Politics, TV | Comments Off on Quote of the Day

Learning to love the Boardwalk again

Posted on October 4, 2013 by David McKee

In a surprising — but not unwelcome — turn of events two Philadelphia casino investors are looking at getting into Atlantic City. It’s amazing the effect legalized Internet betting can have. Business partners George Miller and Kevin Flynn own 0.5% … Continue reading →

Posted in Architecture, Atlantic City, Boyd Gaming, Colony Capital, Current, Dining, Donald Trump, Hard Rock Hotel, Harrah's, Internet gambling, Pennsylvania, The Strip, Tilman Fertitta | 2 Comments

Strike two for Foxwoods, shadow play at Suffolk

Posted on October 4, 2013 by David McKee

In a development that caught the eye of the Massachusetts Gaming Commission, former Mashantucket Pequot tribal treasurer Steven Thomas has pleaded out on theft charges one day after resigning from the tribal council. His brother, Michael Thomas, has already been … Continue reading →

Posted in Current, Foxwoods, Harrah's, Macau, Massachusetts, Regulation | Comments Off on Strike two for Foxwoods, shadow play at Suffolk

D-Day for Mohegans, Penn; MGM restructures

Posted on October 2, 2013 by David McKee

In Massachusetts, initial approval will be granted or denied to Mohegan Sun and to Penn National Gaming as prospective operators. In both cases, it seems unlikely that the Massachusetts Gaming Commission with unearth any dead bodies. The focus will be … Continue reading →

Posted in CityCenter, Current, Dubai, Hard Rock International, Harrah's, Massachusetts, MGM Mirage, Mohegan Sun, Penn National, Politics, Regulation, The Strip, Wall Street | Comments Off on D-Day for Mohegans, Penn; MGM restructures

“Mob” exits Trop; Goretorium exiting Vegas?; Adelson keeps losing

Posted on October 1, 2013 by David McKee

Having served its purpose in getting the (rather soporific) Mob Attraction off the ground — including forgiving some lease payments — the Tropicana Las Vegas finds itself kicked to the curb. The Attraction will move to a new site (reputedly … Continue reading →

Posted in Alex Yemenidjian, Current, Entertainment, Harrah's, Macau, Phil Ruffin, Sheldon Adelson, The Strip | Comments Off on “Mob” exits Trop; Goretorium exiting Vegas?; Adelson keeps losing