Category Archives: Current

Penn: Start making sense!; Casinos clean up in Lege

Posted on June 4, 2013 by David McKee

Casinos in Ohio have not been living up to revenue expectations. Given such a fallow market, what has Penn National Gaming decided to do? Break ground on two racinos, of course! One is in the Dayton area, the other — … Continue reading →

Posted in Boyd Gaming, Current, Dan Gilbert, Economy, Harrah's, Internet gambling, Macau, MGM Mirage, MTR Gaming, Neil Bluhm, Ohio, Penn National, Politics, Racinos, Sheldon Adelson, Slot routes, Stanley Ho, Station Casinos, World Series of Poker | 1 Comment

The rest of the story: Boyd, IGT & Bally

Posted on June 3, 2013 by David McKee

While in Vegas, Deutsche Bank’s Carlo Santarelli dropped in on Boyd Gaming and … well, the news wasn’t as good there as on the Strip. He predicts a “tempered recovery,” adding that “expectations for an inflection in the LV locals … Continue reading →

Posted in Boyd Gaming, Current, IGT, Illinois, Internet gambling, Louisiana, Mississippi, Slot routes, The Strip, Tribal, Wall Street | Comments Off on The rest of the story: Boyd, IGT & Bally

Wall Street visits Vegas: Wynn, Sands & MGM

Posted on June 3, 2013 by David McKee

Like the pig in a ham-and-egg breakfast, Deutsche Bank is committed to Las Vegas, while many of its brethren (like the chicken) merely hold an interest. However, DB’s $4 billion grubstake fortunately does not preclude analyst Carlo Santarelli from dropping … Continue reading →

Posted in Cosmopolitan, Current, Economy, Entertainment, International, Macau, Marketing, Maryland, Massachusetts, Pennsylvania, Regulation, Sheldon Adelson, Steve Wynn, Wall Street | Comments Off on Wall Street visits Vegas: Wynn, Sands & MGM

Bad day for Okada; Good month for Macao

Posted on May 30, 2013 by David McKee

It’s back to the starting point for Kazuo Okada, controversial former business partner of Steve Wynn and CEO of Universal Entertainment Corp. The latter’s attempt to enter the Philippines casino market (left) fell apart along with a deal with Robinsons … Continue reading →

Posted in Current, Economy, International, Macau, Melco Crown Entertainment, MGM Mirage, Regulation, Stanley Ho, Steve Wynn | Comments Off on Bad day for Okada; Good month for Macao

Illinois: Not so fast!; Adelson pursues world domination

Posted on May 30, 2013 by David McKee

It really looked like the fix was in, the deal was done and existing casino operators in Illinois were about to thrown to the slaughter by legislators hungry for licensing fees. But the wheels of the grand plan are coming … Continue reading →

Posted in Current, Election, Illinois, International, Macau, Neil Bluhm, Penn National, Politics, Regulation, Sheldon Adelson, Slot routes, Taxes, The Strip, Tourism, Wall Street | 1 Comment

Pinnacle: The cost of the deal

Posted on May 30, 2013 by David McKee

Pinnacle Entertainment finds itself in an interesting pickle today: It’s awfully far into its Federal Trade Commission-blocked purchase of Ameristar Casinos to blow it up by, say, selling three or more Ameristar properties or otherwise triggering a fallout. And if … Continue reading →

Posted in Ameristar, CityCenter, Current, Harrah's, Internet gambling, Louisiana, Macau, Melco Crown Entertainment, MGM Mirage, Missouri, Penn National, Regulation, Sheldon Adelson, Vdara Death Ray, Wall Street, World Series of Poker | Comments Off on Pinnacle: The cost of the deal

Feds balk at Pinnacle/Ameristar deal

Posted on May 29, 2013 by David McKee

Given the supine attitude toward mergers and acquisitions that has prevailed in Washington, D.C., for the past 15 years and the routine, state-by-state approval of Pinnacle Entertainment‘s takeover of Ameristar Casinos, I had erroneously thought it a done deal. Not … Continue reading →

Posted in Cosmopolitan, Current, Economy, Harrah's, Illinois, Isle of Capri, Louisiana, MGM Mirage, Missouri, Penn National, Pinnacle Entertainment, Regulation, The Strip, Tourism, Wall Street | 2 Comments

Adelson: He’s taking it with him; Nevada casinos win one, in principle

Posted on May 29, 2013 by David McKee

Las Vegas Sands CEO Sheldon Adelson continues to burn through company at what would — for most ordinary firms — be a frightful clip. Clark County District Judge Rob Bare tacked $31.6 million onto a $70 million jury award to … Continue reading →

Posted in Current, Harry Reid, Macau, Marketing, Melco Crown Entertainment, Midnight Jim Gibbons, Politics, Regulation, Sheldon Adelson, Taxes | Comments Off on Adelson: He’s taking it with him; Nevada casinos win one, in principle

New Maryland casino a hit; Casino lobbying a flop; Next: Sands Markham?

Posted on May 29, 2013 by David McKee

A thousand people waiting to get into a casino on opening day would be nothing at all in Las Vegas. But at Maryland‘s penultimate casino, Rocky Gap Resort, it’s a positive omen, especially since the mini-sino has but 10 tables … Continue reading →

Posted in Atlantic City, Current, International, Internet gambling, Lyle Berman, Marketing, Maryland, Politics, Regulation, Sheldon Adelson, Singapore, Sports, Tribal | Comments Off on New Maryland casino a hit; Casino lobbying a flop; Next: Sands Markham?

The Caesars squeeze

Posted on May 28, 2013 by David McKee

While the emperor (CEO Gary Loveman) may have escaped the Ides of March this year, knots of discontented tribunes are gathering on the Forum steps, muttering darkly.  A cabal of hedge funds led by Silver Point Capital is looking at … Continue reading →

Posted in Current, Dan Gilbert, Economy, Internet gambling, Isle of Capri, Macau, Massachusetts, Ohio, Regulation, Station Casinos, Wall Street | 1 Comment

Massachusetts: Awkward timing

Posted on May 28, 2013 by David McKee

On July 16, MGM Resorts International will go before the voters of Springfield, Massachusetts, for approval as the city’s designated casino applicant. There’s no reason not to expect the company to win the election. However, the voters’ choice might get … Continue reading →

Posted in Current | Comments Off on Massachusetts: Awkward timing

Quote of the Day

Posted on May 28, 2013 by David McKee

“Why would [casinos] put a $1 billion investment when they are going to compete against restricted licensees across the street and in the neighborhood?” — Nevada Assembly Majority Leader William Horne (D), arguing that the continued operation of 80-odd sports-betting … Continue reading →

Posted in Current, Politics, Regulation, Sports, Technology | Comments Off on Quote of the Day

Christie’s big bet; New Hampshire’s big blunder; Nevada’s big bully

Posted on May 23, 2013 by David McKee

New Jersey Gov. Chris Christie (R) is banking on $180 million in Internet casino revenue to make his budget work. That might be a little off — if by “little” you mean 80%. Online wagering could bring in a comparatively … Continue reading →

Posted in Current, Dan Gilbert, Detroit, Economy, Election, Harrah's, International, Internet gambling, Maine, Massachusetts, New Hampshire, Politics, Slot routes, Sports, Station Casinos, Taxes, Wall Street | 1 Comment

Woody in Milford; Revel out of Chapter 11; Isle: Pay to play

Posted on May 22, 2013 by David McKee

Foxwoods Resort Casino CEO Scott “Woody” Butera didn’t close the sale with Milford voters earlier this week, but they didn’t slam the door on him either. Rather than prejudice the issue with a town-meeting vote, local sentiment favors a city-wide … Continue reading →

Posted in Architecture, Atlantic City, Current, Downtown, Economy, Isle of Capri, Massachusetts, Pennsylvania, Revel, Tribal, Wall Street | Comments Off on Woody in Milford; Revel out of Chapter 11; Isle: Pay to play

Good news, bad news

Posted on May 22, 2013 by David McKee

Good news for Caesars Entertainment: Macanese gaming magnate Galaxy Entertainment Group wants to buy a golf course. Caesars has a $578 million one it desperately wants to unload. Bad news for Caesars, Galaxy wants a course that’s on nearby Hengqin … Continue reading →

Posted in Current, Economy, Harrah's, Macau, The Strip | Comments Off on Good news, bad news

Bad news for Riv; Losing your gaming license? Come to Nevada!

Posted on May 21, 2013 by David McKee

A spiffy makeover and a nostalgia-themed market position aren’t helping the Riviera as customers gravitate back toward higher-priced hotels. A bad neighborhood, while hardly a new phenomenon, isn’t helping. Having Echelon and Fontainebleau as your neighbors is akin to living … Continue reading →

Posted in California, Current, Fontainebleau, Genting, Herbst Gaming, history, Marketing, Regulation, Riviera, Technology, Tourism, Tribal, Wall Street | Comments Off on Bad news for Riv; Losing your gaming license? Come to Nevada!

MGM: No time wasted

Posted on May 21, 2013 by David McKee

Say what you like about MGM Resorts International‘s plans for Monte Carlo and New York-York, the company isn’t letting any grass grow under its feet: As of 9 a.m. this morning, the Monte Carlo facade was merely walled off with … Continue reading →

Posted in Architecture, Current, MGM Mirage, The Strip | 1 Comment

Clever Quinn; Rearranging the deck chairs; PE firms repulsed

Posted on May 21, 2013 by David McKee

Just when boosters of casino expansion in Illinois thought they had a done deal, Gov. Pat Quinn (D) sprung a carefully concealed snare: No pension reform, no dice. He dismissed Rep. Lou Lang‘s endless, insane casino crusade as a “shiny … Continue reading →

Posted in Current, Harrah's, Illinois, Indiana, Massachusetts, Politics, Regulation, Sheldon Adelson, Singapore, The Strip, Transportation, Tribal, Wall Street | 1 Comment

PokerStars blows it; Wynn woos Philadelphia

Posted on May 20, 2013 by David McKee

Score one for Colony Capital: It took Rational Group to the cleaners to  the tune of $11 million and there’s nothing Rational can do about it. A New Jersey court ruled that the PokerStars parent company had no one to … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Colony Capital, Current, Dining, Donald Trump, Economy, Entertainment, Harrah's, Internet gambling, Isle of Capri, Marketing, Neil Bluhm, Penn National, Pennsylvania, Revel, Steve Wynn, Tilman Fertitta, Tropicana Entertainment | 2 Comments

Penn cloning process proceeds

Posted on May 17, 2013 by David McKee

Penn National Gaming has filed paperwork with the SEC for an IPO that would enable you to buy into 19 Penn casinos, including flop Hollywood Perryville (shown). This Penn stalking horse would go by the incredibly generic name of Gaming … Continue reading →

Posted in Architecture, Current, Harrah's, Maryland, Massachusetts, MGM Mirage, Penn National, Pennsylvania, The Strip, Wall Street | Comments Off on Penn cloning process proceeds