Category Archives: Current

Maryland: Who’s got the last laugh now?; Murren goes North, other companies look South

Posted on January 23, 2013 by David McKee

MGM Resorts International, that’s who. As predicted, a lawsuit filed to overturn last November’s casino expansion was laughed out of court. Judge Ronald A. Silkworth called the litigation “baseless,” which is a nice way of saying, “Thanks for wasting my … Continue reading →

Posted in Cirque du Soleil, Current, Economy, Entertainment, Florida, International, Iowa, MGM Mirage, Nebraska, Penn National, Pinnacle Entertainment, Politics, Racinos, Sheldon Adelson, Taxes, Texas, Tribal | Comments Off on Maryland: Who’s got the last laugh now?; Murren goes North, other companies look South

Enter the Dragon

Posted on January 22, 2013 by David McKee

It’s not clear what Lady Luck owner Andrew B. Donner has on his mind but he’s been gobbling up obscure little hotels over on the east side of Downtown. It’s out past the defunct Western casino, so we’re talking way … Continue reading →

Posted in Current, Downtown, Economy, Tamares Group | 2 Comments

Quote of the Day

Posted on January 22, 2013 by David McKee

“[W]e are lowering our 4Q12, 2013, and 2014 forecasts given sluggish regional gaming trends, earlier than expected cannibalization impacts, and a slow start at Hollywood Columbus.” — Deutsche Bank analyst Carlo Santarelli, on Penn National Gaming. Hmmmm, has a familiar … Continue reading →

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

Adelson fleeing Pennsylvania

Posted on January 18, 2013 by David McKee

Back when Las Vegas Sands was waffling over the completion of Sands Bethlehem and rattling its tin cup for joint-venture partners, I suspected that Sheldon Adelson had lost his stomach for the project and would probably sell it. Sands has … Continue reading →

Posted in Ameristar, Current, Genting, New York, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Racinos, Sheldon Adelson, Steve Wynn, The Strip, Tribal | 3 Comments

Et tu, Dan?

Posted on January 17, 2013 by David McKee

Seems there’s no honor among business partners: While lugging Caesars Entertainment on his back from Cleveland to Cincinnati and thence to Baltimore, mogul Dan Gilbert had a side deal of his own going. He’s buying a majority stake in Greektown … Continue reading →

Posted in Current, Dan Gilbert, Detroit, Harrah's, International, Marketing, Ohio | 3 Comments

Would you trust Gary Loveman with your Social Security?

Posted on January 17, 2013 by David McKee

In addition to presiding over the most grotesquely indebted company — by far — in the casino industry, Caesars Entertainment CEO/President/Chairman/Pontifex Maximus/Generalissimo Gary Loveman also wants to dictate the manner in which we eke out our “golden years.” Amazingly, somebody … Continue reading →

Posted in Current, Dan Gilbert, Economy, Election, Harrah's, history, International, Louisiana, Macau, MGM Mirage, Mississippi, Problem gambling, TV, Wall Street | 14 Comments

SkyFail

Posted on January 17, 2013 by David McKee

It’s time we reluctantly stuck a fork in Howard Bulloch‘s South Strip Ferris wheel, Skyvue. It’s besieged by liens and unpaid bills, which Bulloch is going to cover by — wait for it — borrowing still more money. The developer … Continue reading →

Posted in Current, Economy, Entertainment, Harrah's, The Strip, Tourism | 2 Comments

Palms: “It’s going down”

Posted on January 16, 2013 by David McKee

That’s what Lt. Castillo (the one, the only, the awesomeness that is Edward James Olmos) would say of the situation at Palms Casino Resort, which has spent the Joseph Magliarditi administration spiraling into disrepute. (Trouble at a Magliarditi-run casino? Shocking!) … Continue reading →

Posted in Current, Environment, Palms, Regulation, The Strip, TV, Wall Street | 1 Comment

What manner of idiot …

Posted on January 15, 2013 by David McKee

… keeps fountains running during a hard freeze? A Caesars Entertainment executive, who else? Never mind that pipes have been bursting all over the valley (including one at LVA HQ) and that Lake Tahoe casinos have experienced “severe water and … Continue reading →

Posted in Columbia Sussex, Cretins, Current, Environment, Harrah's, Lake Tahoe, The Strip, Tropicana Entertainment | 2 Comments

Trouble for riverboat gambling?

Posted on January 15, 2013 by David McKee

Sorry to sound apocalyptic, especially since we just dodged that Mayan Calendar bullet. However, a brand-new Supreme Court ruling is sure to get the attention of every company that owns a riverboat casino. By a 7-2 margin, the high court … Continue reading →

Posted in Current, Florida, Mississippi, Missouri, Pinnacle Entertainment, Regulation, Taxes | 2 Comments

Palms cops a plea

Posted on January 11, 2013 by David McKee

It’ll cost the Palms a cool $1 million and change to make problems with the Nevada Gaming Control Board go away quietly … unless the Nevada Gaming Commission decides a still-higher penalty should be exacted. (Unlikely, but possible.) According to … Continue reading →

Posted in Current, Entertainment, George Maloof, Regulation, Wall Street | 2 Comments

Hollywood, we have a problem; The Marrandino mystery

Posted on January 11, 2013 by David McKee

Ohio casinos had a below-average December, although the blow was softened by table hold of — YEOW! — 23%. That’s borderline-astronomical compared to Las Vegas averages for 2004-2011 period. It’ll help make up for slot revenues that suggest, with six … Continue reading →

Posted in Atlantic City, Boyd Gaming, Cordish Co., Current, Dan Gilbert, Economy, Harrah's, Horseracing, Maryland, MTR Gaming, Ohio, Penn National, Racinos, Regulation, Wall Street | 3 Comments

November in Vegas: The house lost; Players jilt Caesars in A.C.

Posted on January 10, 2013 by David McKee

There’s no other way of saying it (although many are trying). Strip casinos got their clocks cleaned in November as Lady Luck favored the punters, not the house. A 13% dropoff on the Strip was driven by a perfect storm … Continue reading →

Posted in Atlantic City, Bally Technologies, Boulder Strip, Boyd Gaming, Colony Capital, Current, Donald Trump, Downtown, Economy, Harrah's, Lake Tahoe, Laughlin, North Las Vegas, Revel, Station Casinos, The Strip, Tourism, Tribal, Tropicana Entertainment, Wall Street | 5 Comments

Pinnacle makes pricey Atlantic City exit; Fertitta’s Downtown mess

Posted on January 9, 2013 by David McKee

A Wall Street Journal story from yesterday evening reports that Pinnacle Entertainment has found a buyer for its 19 acres of Boardwalk land. These were cobbled together at huge cost — $270 million or $14 million an acre — by … Continue reading →

Posted in Atlantic City, Carl Icahn, Current, Dan Lee, Donald Trump, Downtown, Economy, Environment, Pinnacle Entertainment, Regulation, Tilman Fertitta | 3 Comments

MGM Cotai clears final barrier; devil in the Maryland details

Posted on January 9, 2013 by David McKee

Although the government of Macao enjoys nothing better than to make casino owners wait and fidget for their land leases to be “gazetted,” today is MGM Resorts International‘s lucky day. MGM China received final approval for its Cotai Strip megaresort. … Continue reading →

Posted in Boyd Gaming, California, Current, Macau, Marketing, Maryland, Melco Crown Entertainment, MGM Mirage, Penn National, Politics, Regulation, Sheldon Adelson, Stanley Ho, Station Casinos, Steve Wynn, Tourism, Transportation, Tribal, TV, Wall Street | Comments Off on MGM Cotai clears final barrier; devil in the Maryland details

New blog in town

Posted on January 8, 2013 by David McKee

It looks like S&G will have some competition in the leave-no-word-unminced department: Former Las Vegas Review-Journal Business Editor Doug Puppel has created Vegas WTF (test version). If you want to read about jailed high rollers and violence on the Strip, … Continue reading →

Posted in Current, Entertainment, Sports, The Strip | 1 Comment

Revel: Slow learning curve ahead; Sheldon spanked in Singapore

Posted on January 8, 2013 by David McKee

By the time Revel CEO Kevin DeSanctis realizes he’s made a mistake, he’s almost always past the point of no return. Although it is my deeply rooted opinion that smoking is a noxious, disgusting habit that invades other people’s space, … Continue reading →

Posted in Atlantic City, Cordish Co., Current, Economy, Environment, Genting, International, Maine, Marketing, Maryland, Penn National, Problem gambling, Racinos, Regulation, Revel, Sheldon Adelson, Singapore, Wall Street | Comments Off on Revel: Slow learning curve ahead; Sheldon spanked in Singapore

Exit Fahrenkopf, enter … ?

Posted on January 7, 2013 by David McKee

After a long (17 years) and eventful tenure at the top of the American Gaming Association, President Frank J. Fahrenkopf is calling it a day. On June 30, he hands over the reins to a successor as yet to be … Continue reading →

Posted in Atlantic City, Australia, Boyd Gaming, Current, Florida, G2E, Internet gambling, Mississippi, Pennsylvania, Politics, Sheldon Adelson, Tribal | 2 Comments

Blood on the Boardwalk: Marrandino out

Posted on January 6, 2013 by David McKee

You can practically hear the wind whistling through the corridors of power as top execs continue to jump — or are flung — from the sinking Caesars Entertainment ship. First, CFO Jonathan Halkyard up and quits, in favor of the … Continue reading →

Posted in Atlantic City, CityCenter, Current, Florida, Harrah's, Maryland, Massachusetts, MGM Mirage, Regulation, Revel, The Strip | 7 Comments

Quote of the Day

Posted on January 2, 2013 by David McKee

“The White House sent [Sen. Harry] Reid a list of suggested concessions … Reid looked over the concessions the administration wanted to offer, crumpled up the paper and tossed it into his fireplace … Reid frequently keeps his fire going … Continue reading →

Posted in Current, Harry Reid | 11 Comments