Category Archives: Detroit

Hard May in Illinois; Buyer found for F-blew?

Posted on June 7, 2016 by David McKee

Casino patrons in Illinois are spending a bit more these days but there were 8% fewer of them last month, leading to a 6% revenue decline, partly due to one fewer weekend this year. On an individual basis, casinos tended … Continue reading →

Posted in Boyd Gaming, Carl Icahn, Derek Stevens, Detroit, Downtown, Fontainebleau, GLPI, Harrah's, Illinois, MGM Mirage, Neil Bluhm, Penn National, Slot routes, Steve Wynn, The Strip, Transportation, Tropicana Entertainment, Wall Street | Comments Off

MGM wows Wall Street; Lucky Dragon clears major hurdle

Posted on May 6, 2016 by David McKee

Stock analysts were expecting MGM Resorts International to report 1Q16 cash flow of $590 million but the lion overshot projections, bringing in the sheaves to the tune of $618 million. JP Morgan analyst Joseph Greff credited much of the success … Continue reading →

Posted in Cirque du Soleil, CityCenter, Detroit, Entertainment, James Packer, Lucky Dragon, LVCVA, Macau, Melco Crown Entertainment, MGM Mirage, Mississippi, Sheldon Adelson, SLS Las Vegas, Steve Wynn, The Strip, Wall Street | Comments Off

New life for California online poker?; Maine casino push struggles to stay alive

Posted on April 13, 2016 by David McKee

Online poker is described as being “as close as [it’s] ever been” to legalization in California. So says California Nations Indian Gaming Association Chairman Steve Stallings, as a bill by Assemblyman Adam Gray shows signs of advancing. The primary obstacle, as ever, … Continue reading →

Posted in Dan Gilbert, Detroit, Election, Internet gambling, Maine, MGM Mirage, PokerStars, Taxes, Tribal | Comments Off

That impersonal touch; Big day for MGM

Posted on March 18, 2016 by David McKee

What is almost completely missing from this commercial? Caesars Entertainment guests are lengthily shown drinking, dining, riding the High Roller (which could use the traffic) and — as a very brief afterthought — gambling. So the company’s definitely on the … Continue reading →

Posted in California, CityCenter, Detroit, Dubai, Genting, Harrah's, International, LVCVA, MGM Mirage, Mississippi, Penn National, Regulation, Riviera, Taxes, Technology, The Strip, Tourism, Tribal, Wall Street | 1 Comment

Banner week for Wynn, Station; Life after Macao for MGM

Posted on February 19, 2016 by David McKee

Station Casinos closed out the year on a strong note, posting its 11th straight quarter of net revenue growth and 19th of improved cash flow. It marked blue-ribbon finish to a year that saw the highest revenues for the company … Continue reading →

Posted in CityCenter, Detroit, Harrah's, Macau, MGM Mirage, Mississippi, Station Casinos, Steve Wynn, The Strip, Tourism, Transportation, Wall Street | 3 Comments

Atlantic City under siege; Detroit casinos deliver

Posted on January 14, 2016 by David McKee

New Jersey state Senate President Stephen Sweeney (D) hasn’t been elected governor yet but he’s behaving as though he were the Garden State’s chief executive. He’s the driving force behind a suddenly urgent move to exert state control over Atlantic City. … Continue reading →

Posted in Atlantic City, Dan Gilbert, Detroit, Economy, Entertainment, Georgia, Hard Rock Hotel, MGM Mirage, Politics, Revel, Taxes | Comments Off

Boston: Has Wynn finally won?; Massachusetts mulls i-poker

Posted on December 15, 2015 by David McKee

Boston Mayor Martin Walsh seems to have finally put his grandstanding aside and is making conciliatory noises about Wynn Resorts. Has the smackdown of his lawsuit against the Massachusetts Gaming Commission finally brought Walsh to his senses? Or is this … Continue reading →

Posted in Dan Gilbert, Detroit, Donald Trump, Internet gambling, Massachusetts, MGM Mirage, Pennsylvania, Politics, Regulation, Steve Wynn, Transportation, Westgate LV | Comments Off

MGM’s sudden Connecticut ardor; Labor peace in Detroit

Posted on December 8, 2015 by David McKee

Connecticut‘s government is trying to have an MGM Resorts International lawsuit dismissed, but MGM isn’t going away quietly. It’s targeted the no-bid process whereby a Mohegan Sun–Foxwoods Resort Casino joint venture was juiced into a third, off-reservation casino, location still … Continue reading →

Posted in Culinary Union, Detroit, Donald Trump, Economy, Election, Foxwoods, Genting, International, Massachusetts, MGM Mirage, Mohegan Sun, Phil Ruffin, Sheldon Adelson, Singapore, Tourism, Tribal, Wall Street | Comments Off

No Great Pumpkin for Las Vegas; Further woe for Macao

Posted on December 1, 2015 by David McKee

It was Las Vegas Strip casinos’ bad luck to have Oct. 31 fall on a Saturday, meaning that revenues (particularly from slots) from that weekend won’t be reported until the end of November. Consequently, Strip revenues fell 5% in October, … Continue reading →

Posted in Boulder Strip, Dan Gilbert, Detroit, Dining, Downtown, Economy, Galaxy Entertainment, Lake Tahoe, Laughlin, Law enforcement, Macau, Maryland, Melco Crown Entertainment, MGM Mirage, North Las Vegas, Reno, Sheldon Adelson, Stanley Ho, Steve Wynn, Wall Street | 1 Comment

Caesars exiting Ohio with head held high; New Showboat setback

Posted on November 9, 2015 by David McKee

Caesars Entertainment may have gotten the boot from its three managerial arrangements with Dan Gilbert in Ohio but it’s spending the waning weeks of its tenure putting up impressive numbers. Horseshoe Cleveland ($18 million) was up 4% and Horseshoe Cincinnati … Continue reading →

Posted in Atlantic City, Dan Gilbert, Detroit, Eldorado Resorts, Glenn Straub, Harrah's, Marketing, Penn National, Pinnacle Entertainment, Politics, Racinos, Taxes | Comments Off

Packer on the move in Vegas; Impending strike in Detroit?

Posted on November 4, 2015 by David McKee

Formally speaking, Alon hasn’t broken ground but that hasn’t stopped James Packer‘s bulldozers and backhoes from moving earth around at the site of the planned megaresort, as well as leveling some of the landscaping Steve Wynn paid for to conceal … Continue reading →

Posted in Architecture, Carl Icahn, Dan Gilbert, Detroit, Fontainebleau, Genting, James Packer, MGM Mirage, SLS Las Vegas, Steve Wynn, The Strip | Comments Off

Trouble in Fantasyland

Posted on September 15, 2015 by David McKee

Daily fantasy sports leagues have gotten awfully brazen since pairing with major sports leagues, inundating TV airwaves with advertising, and this has gaming regulators in some states looking askance at DFS. The first shot across the bow came from Nevada, … Continue reading →

Posted in Boyd Gaming, Detroit, Kansas, MGM Mirage, PokerStars, Politics, Regulation, Sports, TV | 1 Comment

Georgia on their minds; How to kill a casino

Posted on September 14, 2015 by David McKee

MGM National Harbor President Lorenzo Creighton dangles some shiny objects and big numbers before Georgia newspaper readers, promising even bigger things for Atlanta, as MGM Resorts International tries to counter lawmakers’ congenital opposition to gambling with suasion and seductive dollar … Continue reading →

Posted in Boyd Gaming, Culinary Union, Derek Stevens, Detroit, Downtown, Economy, Georgia, Horseracing, International, James Packer, Maryland, MGM Mirage, Penn National, Politics, Sheldon Adelson, Steve Wynn, Taxes | Comments Off

Case Bets: Caesars, Detroit, New York & Steve Wynn

Posted on September 9, 2015 by David McKee

In one of the industry’s more bizarre developments, Harrah’s Tunica will become an assisted-living facility if buy TJM Properties has its druthers. Caesars Entertainment Operating Co. has asked a bankruptcy court to approve the sale. It won’t bring in that … Continue reading →

Posted in Detroit, Economy, G2E, Harrah's, International, Internet gambling, Massachusetts, MGM Mirage, Mississippi, New York, Regulation, Steve Wynn, Technology, Transportation | Comments Off

Business heats up in Detroit, cools in Manila

Posted on August 12, 2015 by David McKee

Ohio? What’s Ohio? Casinos in Detroit may as well ask that as they continue to recover from the dent in their business made by the Buckeye State. July revenues were up 3% and, for the year to date, casino revenues … Continue reading →

Posted in Australia, Dan Lee, Detroit, Economy, Environment, Harrah's, Macau, Maryland, Melco Crown Entertainment, MGM Mirage, Ohio, Philippines, South Korea, Taxes | 2 Comments

Macao: “Less bad”; MGM beats estimates

Posted on August 4, 2015 by David McKee

That’s how J.P. Morgan analyst Joseph Greff spun the latest numbers out of Macao, where gaming revenues plunged 34%, less than the year-to-date average of 37%. Mass table game winnings were up 11% from June, “more positive than we otherwise … Continue reading →

Posted in Atlantic City, Detroit, Economy, Illinois, Macau, Mississippi, Scientific Games, The Strip, Wall Street | 1 Comment

White knight for Caesars?; Missing the Blarney Stone

Posted on July 10, 2015 by David McKee

Caesars Entertainment may have to cede more equity in Caesars Entertainment Operating Co. in order to get junior creditors behind a Chapter 11 restructuring. A Paulson & Co. initiative reportedly aims to do exactly that. In tandem with Canyon Partners and … Continue reading →

Posted in Dan Gilbert, Derek Stevens, Detroit, Downtown, Economy, Harrah's, Internet gambling, MGM Mirage, Sports, Wall Street | Comments Off

Adieu, Monte Carlo; Sunny April in Detroit

Posted on May 12, 2015 by David McKee

Judging from how it bastardized the Strip facade of Monte Carlo, it’s clear MGM Resorts International doesn’t quite know what to do with the place. CEO Jim Murren tacitly confirmed this recently when he said MGM was studying myriad options … Continue reading →

Posted in Architecture, CityCenter, Detroit, Harrah's, MGM Mirage, Station Casinos, The Strip, Tourism, Wall Street | Comments Off

Elaine Wynn prepares for battle; Sunny days in Detroit

Posted on March 11, 2015 by David McKee

“The company’s success has been one of my life’s main passions, and I bring that attitude to my role as a director each and every day.” So wrote Elaine Wynn, as she gears up for a proxy fight to remain … Continue reading →

Posted in Dan Gilbert, Detroit, Economy, MGM Mirage, Ohio, Steve Wynn, The Strip, Wall Street | Comments Off

Station is back; MGM’s praises sung

Posted on February 18, 2015 by David McKee

When the Great Recession struck, no company was more ill-positioned to weather it than Station Casinos. A few tribal contracts aside, all of Station’s eggs were in the Las Vegas basket. To put it another way, Vegas may have gotten … Continue reading →

Posted in California, Detroit, Economy, Hard Rock International, Macau, MGM Mirage, Mississippi, Riviera, Station Casinos, The Strip, Tribal, Wall Street, Wisconsin | Comments Off