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Category Archives: Downtown
Adelson bill makes unwelcome return; Downtown Vegas’ new face
His presidential aspirations having turned to dust, Sen. Lindsey Graham (R) is back to doing Sheldon Adelson‘s business, resurrecting RAWA. He has appended to an unrelated spending bill the following language: “Internet Gambling—Since 1961, the Wire Act has prohibited nearly all … Continue reading
Posted in Atlantic City, California, Dining, Downtown, Entertainment, Internet gambling, Law enforcement, Massachusetts, MGM Mirage, PokerStars, Regulation, Sheldon Adelson, The Strip
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Strip disappoints in March; Genting pulls out of Macao
Just when Wall Street expected levels of revenue on the Las Vegas Strip to rise in March, business did a head-fake and dropped 4%. Again, “the Easter shift” is being blamed but stock analysts should have seen that coming. (A … Continue reading
Posted in Boulder Strip, Downtown, Economy, Genting, Internet gambling, Lake Tahoe, Laughlin, Macau, North Las Vegas, Regulation, Reno, Singapore, Stanley Ho, Taxes, The Strip, Tourism, Tropicana Entertainment, Unite-Here, Wall Street
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It’s official: Boyd buys Cannery; Massachusetts’ agonizing dilemma
Confirming the worst-kept secret in Las Vegas, suddenly acquisitive Boyd Gaming announced that it was buying out Cannery Casino Resorts. The price ($230 million) was toward the lower end of Wall Street had predicted for the deal and means the … Continue reading
Posted in Atlantic City, Boulder Strip, Boyd Gaming, Cannery Casino Resorts, Downtown, Economy, Massachusetts, Neil Bluhm, North Las Vegas, Penn National, Regulation, Taxes, The Strip, Tourism, Tribal, Wall Street
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Derek Stevens’ latest gambit; Hard quarter for Sands
Tilman Fertitta, move over. Derek Stevens is now downtown Las Vegas‘ biggest power player. Even though he has two operational casinos (The D and Golden Gate), plus one in mothballs (the Las Vegas Club), he’s expanded his acreage further by … Continue reading
Posted in Derek Stevens, Downtown, Macau, Pennsylvania, Sheldon Adelson, Singapore, The Strip
2 Comments
Lobbyists win in Atlantic City fight; Untimely reprimand for Bluhm
As Atlantic City fights to maintain its monopoly on casino gambling in New Jersey, it’s getting a lot of help from casino companies themselves — and lobbyists are making out like bandits. The biggest spender to date has been Caesars … Continue reading
Posted in Atlantic City, Australia, Boyd Gaming, Downtown, Election, Entertainment, Genting, Greenwood Racing, Harrah's, Illinois, LVCVA, Massachusetts, MGM Mirage, Neil Bluhm, Penn National, Pennsylvania, Regulation, Sheldon Adelson, Singapore, Tourism, Transportation, Tribal
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DFS dealt twin setbacks; Stalemate over Atlantic City
“As attorney general, it is my duty to uphold Alabama law, including the laws against illegal gambling. Daily fantasy sports operators claim that they operate legally under Alabama law. However, paid daily fantasy sports contests are in fact illegal gambling … Continue reading
Posted in Alabama, Atlantic City, Boyd Gaming, Downtown, Economy, Internet gambling, Massachusetts, Politics, Sports, Steve Wynn, Taxes
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Strong month for the Strip; Tohono O’odham win big-time
February gaming revenues were 8% higher in Nevada (to $990 million), with a 7% increase on the Las Vegas Strip. Locals-casino revenue rose 11%, driven in part by 4% more coin-in and 8% greater table play. Slot revenue on the … Continue reading
Posted in Arizona, Boulder Strip, California, Downtown, Economy, Lake Tahoe, Laughlin, Macau, North Las Vegas, Politics, Reno, Steve Wynn, The Strip, Tourism, Transportation, Tribal
1 Comment
Freeman slags Guardian; The truth remains out there
In a risky move, American Gaming Association President Geoff Freeman lashed out at Atlantic City Mayor Don Guardian, after the latter reiterated his opposition to northern New Jersey casinos in a spirited public debate. Hizzoner wasn’t the only skeptic: Resorts … Continue reading
Posted in Atlantic City, Downtown, Geoff Freeman, Harrah's, Law enforcement, Politics, Texas
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Trump plotting Vegas comeback; Mohegan Sun gains Korean foothold
Even after his improbable spate of electoral successes, you have to wonder if Donald Trump is serious about running for president. His attention is already wandering to a market where the art of the deal has not panned out for … Continue reading
Seminole Christmas tree in Florida; Free money for California ponies
Pot or gambling? That’s the choice Florida Gov. Rick Scott (R) faces in newly discovered documents from 2014, in which the Poarch Band of Creek Indians seeks a casino on a one-acre parcel near Pensacola in return of $1 billion … Continue reading
Posted in Boyd Gaming, California, Dining, Downtown, Entertainment, Florida, Internet gambling, Politics, Tourism, Tribal
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Wall Street loves it some Boyd; Wolf at the door
Boyd Gaming came out with its figures for 4Q15 and Wall Street is fairly singing the company’s praises. “We believe that BYD’s diversified, domestic regional gaming portfolio should continue to benefit from continued U.S. jobs growth and lower gas prices. … Continue reading
Posted in Atlantic City, Boyd Gaming, Downtown, Greenwood Racing, Hawaii, Internet gambling, Iowa, Kansas, Louisiana, Mohegan Sun, Pennsylvania, PokerStars, Sheldon Adelson, Taxes, Technology, Transportation, Wall Street
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Delaware racinos seek relief; Abrupt change at Downtown Grand
If a casino is losing money, does that qualify it for state relief? That’s the philosophical question in Delaware, where Dover Downs is pursuing a public bailout. A bill by state Sen. Brian Bushweller (D) would waive table-game franchise fees … Continue reading
Strip’s illusory Christmas present; A.C. Trop antes up
Las Vegas Strip gaming revenues were up 8% last month but Deutsche Bank analyst Carlo Santarelli is calling that headline “misleading,” the increase “purely optical.” Volume of table play was down 11% and slot coin-in was 2% less. But increased … Continue reading
Posted in Atlantic City, Boulder Strip, Boyd Gaming, Downtown, Economy, Greenwood Racing, Harrah's, Internet gambling, Lake Tahoe, Laughlin, Macau, MGM Mirage, Mohegan Sun, Neil Bluhm, Nevada, North Las Vegas, Penn National, Pennsylvania, Reno, Sheldon Adelson, Technology, The Strip, Tropicana Entertainment, Wall Street
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Trump: The art of disaster; Good November for Las Vegas
If Donald Trump proposes to run America the way he ran his casinos, God help us all. He built a Boardwalk empire in Atlantic City with a lot of hocus-pocus, debt financing and sky-high interest rates (14% for Trump Taj … Continue reading
Holiday season in Vegas
An extended Thanksgiving Day weekend allowed my wife and I to partake of some random Sin City fare — helped greatly by her superior comp-getting abilities. Last Sunday, we spent the night at the Downtown Grand (not our first stay … Continue reading
Posted in Dining, Downtown, Entertainment, MGM Mirage, TV
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No Great Pumpkin for Las Vegas; Further woe for Macao
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
Runaway costs in Springfield; Lucky Dragon not so lucky
MGM Springfield is turning into the worst of both worlds. Not only has the ‘wow’ factor been subtracted (“really the least interesting part of our project,” one exec contended), with the result that the casino-hotel looks more like a bank … Continue reading
Posted in Architecture, California, Culinary Union, Downtown, Entertainment, Lucky Dragon, Massachusetts, MGM Mirage, Regulation, Taxes, Transportation
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Up and down the Strip
SLS Las Vegas is finally doing better, if by “doing better” you mean losing only $39 million in a full 3Q15 as opposed to the $46 million lost in the truncated (five-week) 3Q14. Stockbridge Capital Partners continues to have to … Continue reading
Baccarat buoys the Strip; Last call for Vegas Club
Not only were Nevada gaming revenues up 2% last month, so were Strip revs, propelled by heavy baccarat play. In addition to 17% more being wagered, the house played lucky, winning 24% than last year. That more than made up … Continue reading
Fourth time the charm?; Paging Sheldon Adelson
Gaming-management company Foundation Gaming Group likes DiamondJacks Casino in Vicksburg, it’s buying the place outright — a change of style for Foundation, which prefers running casinos to owning them. There may be some nostalgia in the decision by Foundation COO … Continue reading