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- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
- David McKee on Sibella scandal spreads; Supremes forestall Seminoles
- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
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- Paul Shanahan on MGM crippled; Illinois & Indiana report; Bally’s shaky in Chi
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Category Archives: Dan Gilbert
Sheldon hits paydirt; Culinary Union talks trash
It’s good to be Sheldon Adelson, especially when your company is notching one record-setting month after another. Revenue for 3Q13 rose 32% and net profit shot 79% upwards. Next year, shareholders can look forward to a 60 cent bump in … Continue reading
Posted in Cosmopolitan, Cretins, Culinary Union, Dan Gilbert, Detroit, Harrah's, Macau, Ohio, Pennsylvania, Sheldon Adelson, Singapore, Station Casinos, Wall Street
3 Comments
Ohio: A disappointment, not a flop
Editor’s note: On June 20, J.P. Morgan lowered its price-per-share target for Penn National Gaming, citing “the sluggish Ohio ramp,” along with cannibalization of business in neighboring states. On May 22, legislators in Ohio voted to limit payouts from “sweepstakes … Continue reading
Posted in Dan Gilbert, Economy, Harrah's, Internet gambling, Massachusetts, MTR Gaming, New Hampshire, Ohio, Penn National, Pennsylvania, Politics, Racinos, Regulation, Rhode Island, Tribal, Wall Street
Comments Off on Ohio: A disappointment, not a flop
Wynn gets serious in Massachusetts; Little racino bests Caesars
Steve Wynn is engaging a multi-pronged effort to clinch the favor of voters in Everett. Of course, if the Massachusetts Gaming Commission takes time off from generating paperwork to stop and be impressed by Wynn’s campaign, so much the better. Wynn’s … Continue reading
Posted in Architecture, Current, Dan Gilbert, Harrah's, Massachusetts, Ohio, Pennsylvania, Racinos, Regulation, Steve Wynn, Taxes, Tribal
1 Comment
Penn: Start making sense!; Casinos clean up in Lege
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
The Caesars squeeze
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
Christie’s big bet; New Hampshire’s big blunder; Nevada’s big bully
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
Big setback in Toronto; Wynn rebuffed; Cuomo’s winning streak
One of gaming’s biggest new markets went out with a whimper, not a bang, when colorful Toronto Mayor Rob Ford nixed a scheduled vote on whether to put a casino in the lakeside city, hoping to extract a $97 million … Continue reading
Posted in Colorado, Current, Dan Gilbert, Detroit, Economy, Harrah's, Horseracing, International, Massachusetts, MGM Mirage, New York, Penn National, Politics, Racinos, Regulation, Steve Wynn, Taxes, Texas, Tribal
1 Comment
Equivocal anniversary for Ohio; In Massachusetts, progress for MGM and Wynn
So, as Ohio marks the first full year of casino play, is the glass half-full or half-empty. Currently, much is being made of Horseshoe Cleveland having brought in less than half of greatly over-ambitious expectations (and 12% less than what … Continue reading
Posted in Architecture, Current, Dan Gilbert, Dining, Economy, Entertainment, Harrah's, Massachusetts, MGM Mirage, Ohio, Penn National, Politics, Racinos, Regulation, Steve Wynn, Taxes, Tourism
3 Comments
So long, Sahara and WMS; Bridge of sighs; Private equity’s newest gamble
Gone and soon to be forgotten is the fugly NASCAR Cafe (site of terrible customer service), one of Bill Bennett‘s dubious ‘enhancements’ to the Sahara during his ownership. Current owner Sam Nazarian is ripping the Sahara apart in earnest, although … Continue reading
Posted in Architecture, Current, Dan Gilbert, Dining, Harrah's, history, Ohio, Regulation, Sahara, Sam Nazarian, Scientific Games, Sports, The Strip, Wall Street, WMS Industries
1 Comment
Cleveland: Gilbert appeases skeptics; Scientific Games dissed
Hey, if you had an albatross the size of Caesars Entertainment slung around your neck, you’d be understandably subject to skepticism and perhaps even being called out in public, perhaps to the point of getting tetchy about it. That’s the … Continue reading
Posted in Current, Dan Gilbert, Detroit, Harrah's, International, Maryland, Ohio, Racinos, Scientific Games, Technology, Wall Street, WMS Industries
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Ohio: Penn recovers
Decimation of the slot floor at Hollywood Columbus proved to be just what the doctor ordered, “given the initial lackluster start and relatively low investor expectations,” as J.P. Morgan analyst Joseph Greff writes. Minus 515 machines, revenues at H’wood Columbus … Continue reading
Posted in Current, Dan Gilbert, Harrah's, MTR Gaming, Ohio, Pennsylvania, Racinos, Wall Street
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Case Bets: Binion’s redux; Dr. Doom; Everybody goes to Caesars
Today’s top story is the rumor, first aired on LasVegasAdvisor.com that Binion’s Gambling Hall & Hotel will close in July, lock, stock and million-dollar display. This dovetails with an earlier report that a detailed makeover is in the works. So … Continue reading
Posted in Architecture, Atlantic City, California, Dan Gilbert, Derek Stevens, Dining, Downtown, Economy, Harrah's, Illinois, Indiana, Internet gambling, Marketing, Massachusetts, Ohio, Oscar Goodman, Palms, Penn National, Pennsylvania, Problem gambling, Racinos, Slot routes, Taxes, Technology, Terry Caudill, The Strip, Tilman Fertitta, Tribal
3 Comments
SLS/Sahara: Nazarian gets his green (cards); Caesars green-lit for Cincy
Just when Sam Nazarian‘s mooted reinvention of the defunct Sahara as SLS Las Vegas looked dead and gone, The Naz slipped in under the wire with all the offshore money he required and a bit more: Sahara Sam needs $115 … Continue reading
Posted in Current, Dan Gilbert, Downtown, Economy, Harrah's, International, Maryland, Ohio, Racinos, Regulation, Sahara, The Strip, Tourism
Comments Off on SLS/Sahara: Nazarian gets his green (cards); Caesars green-lit for Cincy
Caesars: Cui bono?; Loveman woos Britney
Our question for the day is, “Who benefits?” Taking the long view of Caesars Entertainment to bundle a mixed bag of Planet Hollywood, its-casino-to-be in Baltimore and Caesars Interactive, in whose interest is it to purchase minority stakes, since CEO … Continue reading
Case Bets: Magic Mike; Bahamas boo gambling; New moves in Massachusetts, Philly
Sheldon Adelson being too busy trying to dictate American foreign policy, it was left to his Number Two Man, COO Michael Leven (left) to go to Toronto and make the case for a Las Vegas Sands megaresort. Leven soft-pedaled the … Continue reading
Et tu, Dan?
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?
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
Margaret Elardi … still here; One bullet dodged, another incoming
To hear the Los Angeles Times tell it, Margaret Elardi — crusty, superannuated, former owner of the Frontier — has called it a day over at Casino Royale. Now redubbed “Best Western Plus Casino Royale,” the small-but-splashy casino has a … Continue reading
Posted in Dan Gilbert, Economy, Massachusetts, Regulation, The Strip
6 Comments
Hollywood, we have a problem; The Marrandino mystery
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