Category Archives: Current

Quote of the Day

Posted on October 22, 2009 by David McKee

"For some people, just being a woman is a pre-existing condition." — Dr. Nancy Snyderman on the subject of HMOs and their propensity to cover Viagra … but not in-vitro fertilization or birth control pills.

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Quote of the Day

Posted on October 21, 2009 by David McKee

Penn National Gaming "has not lost its senses and, [contends] that at the right price and through the right vehicle (and only with a sizable strategic partner who would bring something special to the project, presumably some hotel experience), its … Continue reading →

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

Comrade Spam strikes again

Posted on October 21, 2009 by David McKee

I'm buried deep in other projects this week but I wanted to surface long enough to apologize for the recent barrage of spam in our "Comments" threads and e-mail alerts. Judging by some of the URLs involved, it looks like … Continue reading →

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MGM: CityCenter worth $4.88 billion

Posted on October 20, 2009 by David McKee

MGM Mirage has announced that it's writing off approximately $1.3 billion (i.e., taking an "impairment charge") against CityCenter, with $348 million of that chalked up to falling real estate values. (Some $174 million of that will apparently be fobbed off … Continue reading →

Posted in CityCenter, Columbia Sussex, Current, Economy, Kansas, MGM Mirage, Missouri, Neil Bluhm, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Regulation, Taxes, Tourism, Transportation, Wall Street | Comments Off on MGM: CityCenter worth $4.88 billion

Ohio slots slip sliding away?

Posted on October 19, 2009 by David McKee

A sample conducted by the tag team of TruthPac and Strategic Polling finds support for the Ohio casino initiative backed by Penn National Gaming polling below 50%. Casinos still have a slight edge (48%/43%, with 8% undecided) … so in … Continue reading →

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A deal @ Vdara

Posted on October 19, 2009 by David McKee

Just as I said, CityCenter is becoming the mid-market epicenter of Las Vegas. Today's mailbag yielded a $129/night offer for Vdara, plus $50 in amenity credits — more evidence of the downward pressure CityCenter is exerting on the Strip. But … Continue reading →

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Only in Nevada

Posted on October 16, 2009 by David McKee

To end the week on a note of levity: For the second time this year, both Gov. Jim Gibbons and Lt. Gov. Brian Krolicki got it into their heads to be out of state simultaneously. (One senses that they don't … Continue reading →

Posted in Current, Election, Harry Reid, Marketing, MGM Mirage, New York, Politics, Sheldon Adelson, The Strip | Comments Off on Only in Nevada

Quote of the Day

Posted on October 16, 2009 by David McKee

"I predict a rough winter for Vegas. Swine flu may not be a pandemic, but it may really mess with the casino business. It could make the economic downturn look mild." — a locally based casino-industry expert, in an e-mail … Continue reading →

Posted in Boulder Strip, Current, Downtown, Economy, The Strip, Tourism | Comments Off on Quote of the Day

Aria drives prices … down

Posted on October 16, 2009 by David McKee

Contrary to repeated assertions by J.P. Morgan, it would appear that MGM Mirage is putting out promotional specials for Bellagio … and very aggressively so. Note however, that Steve Wynn's masterpiece is maintaining its price point and Aria is the … Continue reading →

Posted in Alex Yemenidjian, CityCenter, Current, Downtown, Economy, Harrah's, Marketing, MGM Mirage, Riviera, Sahara, Station Casinos, Steve Wynn, The Strip, Tourism | Comments Off on Aria drives prices … down

Great O'Day in the morning

Posted on October 16, 2009 by David McKee

Peepshow star/trainwreck-in-progress Aubrey O'Day likes to speak her mind, for whatever it's worth. Evidently the recklessly candid utterances of Ms. O'Day were worth not one, not two but, yes, three dispatches by Richard Abowitz. The fascination is understandable, given an … Continue reading →

Posted in Current, Economy, Entertainment, Macau, Regulation, Sheldon Adelson, Stanley Ho, Steve Wynn, The Strip | Comments Off on Great O'Day in the morning

Signs of the Times

Posted on October 15, 2009 by David McKee

In less than an hour, Steve Wynn is going to make an extra-special, triple-secret, top-hush "entertainment announcement" via a Wynn Resorts Web-cast. Don't tell anyone but … he's going to reveal that Garth Brooks will be playing Encore. Which we … Continue reading →

Posted in Current, Encore, Entertainment, George Maloof, MGM Mirage, Steve Wynn, The Strip | Comments Off on Signs of the Times

Quote of the Day

Posted on October 15, 2009 by David McKee

"In a lot of places along the coast it looks like the hurricane hit yesterday." — NBC reporter Charles Hadlock, reporting today on the condition of New Orleans and the Gulf Coast, four and a half years after Hurricane Katrina.

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Macao giveth, Macao taketh away

Posted on October 13, 2009 by David McKee

Casino operators in Macao better make the most of the recent relaxation of visa quotas into the enclave. What the government gives with one hand, it partly reclaims with the other. Casino expansion remains out of the question and the … Continue reading →

Posted in Current, Detroit, Economy, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Regulation, Sheldon Adelson, Stanley Ho, Steve Wynn, Tourism, Wall Street | Comments Off on Macao giveth, Macao taketh away

Hope for Boardwalk?

Posted on October 13, 2009 by David McKee

As you know, S&G puts more stock in year/year comparisons than sequential ones, but the most recent set from Atlantic City affords a slender reed of hope. With the help of tighter slots, A.C. held its September decline to 6%, … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Colony Capital, Current, Economy, Harrah's, Marketing, Maryland, Neil Bluhm, New York, Pennsylvania, Regulation, Sheldon Adelson, Tourism, Tropicana Entertainment | Comments Off on Hope for Boardwalk?

Quote of the Day

Posted on October 13, 2009 by David McKee

“Chickens gained valuable rights in California on the same day that gay men and lesbians lost them.” — Ronald M. George, chief justice of the California Supreme Court, on the caprices of the state's initiative-and-referendum system. A ballot measure regulating … Continue reading →

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Leaving Las Vegas

Posted on October 12, 2009 by David McKee

At least 28,000 have done so over the two years-plus (probably more when you allow for the people still moving here). What are the likely consequences of Las Vegas‘ pegging its future on a one-trick economy? And is it going … Continue reading →

Posted in Atlantic City, CityCenter, Current, Detroit, Economy, Election, Horseracing, Indiana, MGM Mirage, Ohio, Pennsylvania, Racinos, The Strip, Tourism, Tribal | Comments Off on Leaving Las Vegas

Good times ahead?

Posted on October 12, 2009 by David McKee

New Yorker economic columnist James Surowiecki puts current consumer-spending strends in perspective — and what he finds should gladden the hearts of casino owners. Basically, he finds historical evidence the current tendency toward thriftiness will soon pass. Of course, when … Continue reading →

Posted in Current, Detroit, Economy, Fontainebleau, Illinois, International, James Packer | Comments Off on Good times ahead?

Leaving Las Vegas

Posted on October 12, 2009 by David McKee

At least 28,000 have done so over the two years-plus (probably more when you allow for the people still moving here). What are the likely consequences of Las Vegas‘ pegging its future on a one-trick economy? And is it going … Continue reading →

Posted in Atlantic City, CityCenter, Current, Detroit, Economy, Election, Horseracing, Indiana, MGM Mirage, Ohio, Pennsylvania, Racinos, The Strip, Tourism, Tribal | Comments Off on Leaving Las Vegas

What's a Trump casino worth?

Posted on October 8, 2009 by David McKee

Only $14 million in cash (plus a $100 million equity infusion), according to The Donald. Bondholders say, we’ll see your $115 million and raise you $100 million. The latter would recoup at least some — but not very much — … Continue reading →

Posted in Atlantic City, Baseball, Current, Donald Trump, Fontainebleau, Harrah's, Harry Reid, Horseracing, Illinois, International, Internet gambling, Lawrence Ho, M Resort, Macau, Massachusetts, Melco Crown Entertainment, Neil Bluhm, Ohio, Oklahoma, Penn National, Pennsylvania, Politics, Regulation, Sheldon Adelson, Slot routes, Sports, Station Casinos, Steve Wynn, Taxes, Texas, Tribal | Comments Off on What's a Trump casino worth?

Case Bets: California crisis, M cutbacks, "Guiding Light" in LV, etc.

Posted on October 8, 2009 by David McKee

Ist California kaput? That’s the question posed by the The Observer and it makes for troubling reading. If Gov. Jim Gibbons (R-NV) is right that tourism from California is the carotid artery of Nevada‘s economy, then the Silver State is … Continue reading →

Posted in Alex Yemenidjian, California, Current, Dining, Economy, Entertainment, Harrah's, International, M Resort, Macau, Sheldon Adelson, Stanley Ho, Tourism, TV | Comments Off on Case Bets: California crisis, M cutbacks, "Guiding Light" in LV, etc.