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Category Archives: Donald Trump
Gimme, Gimme, Gimme
… some money after midnight: Evidently it’s not enough that gaming revenues and other casino-related retail taxes underwrite the State of Nevada. Lawmakers would extend a grubby mitt into the casino kitty and scoop up any unclaimed moolah. “[W]hy does … Continue reading
Posted in ABBA, Cretins, Current, Donald Trump, Economy, Election, Horseracing, Louisiana, Ohio, Penn National, Pinnacle Entertainment, Politics, Racinos, Texas, TV, Wall Street
Comments Off on Gimme, Gimme, Gimme
Err Trump
Failed gaming mogul Donald Trump appears to be running his presidential quasi-campaign with the same business acumen that made his casino empire what it is today. The incident is more funny than anything else because Trump’s wouldn’t-fool-an-infant scheme is lifted … Continue reading
Posted in Current, Donald Trump, Iowa, Politics, Regulation, TV
5 Comments
Good news from an unexpected source
Atlantic City hit the big 3-0 in February: 30 straight months on revenue declivity, says J.P. Morgan (31, according to Wells Fargo). However, the rate of decline (1.4%) was the smallest since April of last year. With Genting Bhd‘s racino … Continue reading
Warm February in Philly; “Lion King” hungry
After a pretty lackluster January, gaming revenues in Pennsylvania bounced back at the slots. The statewide February average was a 10% increase year/year, with Sands Bethlehem right on that button ($22 million) and Harrah’s Chester Downs down 2% ($24 million). … Continue reading
Back from Chicago
My apologies to everyone who got tired of looking at Stanley Ho‘s wizened mug. S&G was on a brief, unannounced hiatus, as yours truly ventured to the cold but wondrous place that is Chicago, home to the greatest architecture in … Continue reading
Marina: Trump out, Tilman in
Our long national nightmare is over. Trump Entertainment Resorts has finally unloaded that pariah known as Trump Marina and for a pittance: $38 million. Just when it looked like Trump couldn’t give the place away, Landry’s Restaurants CEO Tilman Fertitta … Continue reading
Posted in Atlantic City, Boyd Gaming, Colony Capital, Current, Donald Trump, Economy, Harrah's, Regulation
3 Comments
Burnt out at Marina Bay Sands; Winners in Atlantic City
Another day, another Las Vegas Sands executive falls by the wayside. In the case of Marina Bay Sands, it sounds like CEO Thomas Arasi has been burned out in what must have been a pretty intense 18 months at the … Continue reading
Rooms at the top
It’s been a bumpy and expensive education in the Las Vegas casino business for Goldman Sachs. However, the banking house is giving its flagship property, the Stratosphere, a new look (and a new general manger to go with it). If … Continue reading
Palms: Maloof out, Loveman in?
Now that Las Vegas has fallen about as far as it can, private equity firms are picking over the city like vultures sampling carrion. Don’t get me wrong: It’s a much smarter strategy than those PE bozos who bought in … Continue reading
D-Day for Philadelphia
Investors in the stymied Foxwoods Philadelphia riverfront casino project have a date with the Pennsylvania Gaming Control Board on Thursday. That’s where they’ll make their last-ditch pitch to retain custody of the project. State legislators and other officials have voiced … Continue reading
Posted in Cosmopolitan, Current, Donald Trump, Economy, Harrah's, LVCVA, Marketing, MGM Mirage, Pennsylvania, Regulation, Steve Wynn, The Strip, Tourism, Tribal, Vdara Death Ray
1 Comment
Atlantic City’s future: “Bleak”
Such is the prognosis from J.P. Morgan analyst Joseph Greff after the November revenues rolled in from the Boardwalk. Basically, the double-edged sword that was table games in Pennsylvania and a casino in Philadelphia has swung, and lopped 12.5% off … Continue reading
Posted in Alaska, Atlantic City, Boyd Gaming, Carl Icahn, Colony Capital, Cretins, Current, Dennis Gomes, Donald Trump, Economy, Entertainment, Harrah's, Marketing, Morgans Hotel Group, Movies, Neil Bluhm, Pennsylvania, The Strip, Tilman Fertitta, Tourism, Tribal, Tropicana Entertainment, TV, Wall Street
1 Comment
Cosmo: The curious case of “the curious class”
It seems like David G. Schwartz is everywhere today. Las Vegas’ resident casino expert has not one but two stories out on The Cosmopolitan. From what he writes, Cosmo execs have convinced themselves they’ve reinvented the casino. It hinges upon … Continue reading
Good news, bad news in Atlantic City; Feinstein: “Stay on the rez!”; Buffalo Bill’s rides again
For once, however, it’s mostly good. Almost entirely good, in fact. The headline item is that Dennis Gomes‘ purchase of Resorts Atlantic City has cleared licensing, sweeping out the disastrous Colony Capital era. Gomes and financier Morris Bailey say $31.5 … Continue reading
Quote of the Day
“We believe there are a lot of distressed casinos across the country that have attractive assets. We would like to be an acquirer of those assets.” — incoming Trump Entertainment Resorts CEO Robert F. Griffin. Try not to laugh.
Posted in Atlantic City, Current, Donald Trump, Economy
3 Comments
Atlantic City: It could have been worse; Hard Rock changes its tune
OK, so September’s numbers from Atlantic City only represent one month of competition from SugarHouse, in Philadelphia. However, with every other casino in Pennsylvania having enjoyed two full months of table games, a 12% dropoff isn’t as bad as I … Continue reading
No (M)irage this time: Penn enters Vegas
They’ve been busy little beavers at Penn National Gaming, which is — would you believe it? — now the third-largest operator in the U.S. Never mind that Penn bought a horse track in Ohio, on top of building two casinos … Continue reading
Musical chairs at Trump (again)
High-ranking executive jobs at Trump Entertainment Resorts aren’t for “lifers.” Having steered Trump through yet another bankruptcy, CEO Mark Juliano is exiting stage right, “leaving to pursue other opportunities” — the latest executive to be purged. Nobody stays long atop … Continue reading
Would you buy a used casino from this man?
Donald Trump has even more reason to scowl and squint today. His old buddy Richard Fields — to my complete non-surprise — walked away from his interminably protracted attempt to buy Trump Marina at ever-lower prices. (He’s got a point: … Continue reading
Posted in Atlantic City, Boyd Gaming, Current, Dennis Gomes, Donald Trump, Economy, Harrah's, MGM Mirage
1 Comment