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Category Archives: Economy
Case Bets: Pinnacle, Macao, Sahara & Mirage
No trouble in River City: The opening of Pinnacle Entertainment‘s River City casino complex has leapt forward from May to March. Bully for Pinnacle, if this means that the project is going to be finished ahead of schedule. If this … Continue reading
Torrents of Greed
A few random musings … MGM Mirage CEO Jim Murren can wax eloquent on the subject of sustainable development but I suspect that any pensées he might have offered Dubai World on the subject would have been pearls before swine. … Continue reading
Posted in Alex Yemenidjian, CityCenter, Current, Dubai, Economy, Encore, Entertainment, Environment, Harrah's, International, Marketing, MGM Mirage, The Strip, Wall Street
2 Comments
Worth the money
Those three words are all you need to know about Garth Brooks‘ show at Wynncore. (Also, I’m pledged to cover it for WizardOfVegas.com, so I can’t spill all the beans here.) If you’re lucky — as we were — your … Continue reading
Posted in Current, Economy, Entertainment, Planet Hollywood, Sahara, Steve Wynn, The Strip
1 Comment
Bonuses for F-bleau; MGM plants flag in India
When your hopelessly over-budget resort project is bankrupt, stuck in the mud, mired in lawsuits and is basically a total writeoff, there’s only one thing to do. Award year-end bonuses, that’s what. Fontainebleau Chief Restructuring Officer Howard Karawan wants to … Continue reading
Posted in Carl Icahn, Current, Economy, Fontainebleau, Genting, International, MGM Mirage, Penn National, The Strip
6 Comments
Rumpus @ The Rio, Vdara & other Case Bets
It’s shaping up to be a news-intensive day — and I have off-site commitments that will keep me away from the keyboard, but let’s see what we can cram in … “The kiss that rocked The Rio”: The steamy scene … Continue reading
Posted in Charity, CityCenter, Current, Dining, Donald Trump, Economy, Entertainment, G2E, Harrah's, IGT, MGM Mirage, Missouri, Phil Ruffin, Sheldon Adelson, Steve Wynn, Technology, The Strip, Tourism, Tribal, TV
6 Comments
Quote of the Day
“When the world ends, the Las Vegas headline will read: ‘World Ends: Experts Worry About Impact on Vegas Tourism.’” — Richard Abowitz, from his new blog, Gold Plated Door.
Who’s better for F’bleau: Icahn or Penn?
That’s the unspoken question hanging over a lengthy piece in yesterday’s Las Vegas Sun. While Penn National Gaming is willing to commit $1.5 billion or more to finishing Fontainebleau, lead bidder Carl Icahn may be able to do the job … Continue reading
Case Bets: The Wayner, G2E, Packer & Kerzner
Say what you like about Wayne Newton‘s Once Before I Go at the Tropicana Las Vegas, it has the biggest band you’ll see on the Strip: 20 strong, plus backup singers. Most Strip headliners have to make do with one-third … Continue reading
Posted in Alex Yemenidjian, Atlantic City, Australia, Carl Icahn, Current, Donald Trump, Economy, Entertainment, G2E, Genting, International, James Packer, Massachusetts, New York, Pennsylvania, Planet Hollywood, Problem gambling, Racinos, Sheldon Adelson, Singapore, Tribal, Tropicana Entertainment
Comments Off on Case Bets: The Wayner, G2E, Packer & Kerzner
Aria, Vdara discounting already
In its discussions with J.P. Morgan analysts, MGM Mirage has regularly been boasting that Aria’s room rates are running higher (very, very slightly higher) than Bellagio. Being a skeptical fellow by nature, my instinct was that Aria was being propped … Continue reading
Posted in Alex Yemenidjian, Boulder Strip, Boyd Gaming, Cirque du Soleil, CityCenter, Columbia Sussex, Current, Downtown, Economy, Entertainment, George Maloof, Harrah's, Herbst Gaming, Marketing, MGM Mirage, Sheldon Adelson, Silverton, Station Casinos, Steve Wynn, Tamares Group, The Strip, Tourism
6 Comments
We *are* Dubai
“If anywhere is emblematic of the debt-fuelled extravagance of the past decade, it is surely [X], which strove to have the tallest, the biggest and the best of everything.” They’ve just got to be talking about Las Vegas, right? No, … Continue reading
Posted in Alex Yemenidjian, Architecture, Boyd Gaming, Cirque du Soleil, CityCenter, Colony Capital, Columbia Sussex, Cosmopolitan, Current, Dubai, Economy, Entertainment, Harrah's, International, James Packer, MGM Mirage, Morgans Hotel Group, Plaza, Sheldon Adelson, Station Casinos, Steve Wynn, Taxes, The Strip, Tourism, TV, Wall Street
6 Comments
CityCenter Fever
For all the trepidation about $8.5 billion CityCenter and its prospects, today’s opening of Vdara has been enough to set “the Internets,” the blogosphere, the teevees and even traditional newspapers aflame with excitement. After all, who can resist the scrotum … Continue reading
Posted in Architecture, Bally Technologies, CityCenter, Current, Economy, IGT, MGM Mirage, Morgans Hotel Group, Regulation, The Strip, Tourism, TV, WMS Industries
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Chutzpah, thy name is Loveman
Do the bondholders of Harrah’s Entertainment ever get tired of being played for suckers? After being asked to take haircut after haircut — whether in the form of distressed buybacks or deferred repayment — comes a new indignity. While Harrah’s … Continue reading
Posted in CityCenter, Current, Downtown, Economy, Harrah's, Marketing, MGM Mirage, Mississippi, Planet Hollywood, Regulation, The Strip, Wall Street
4 Comments
Is Adelson mad? Trump trumped & Kerzner booted
In an interview with Reuters, Sheldon Adelson said Las Vegas Sands might launch operations in India, Thailand and Japan as soon as 2010. Given the ropey financial condition of his company, the fact that Marina Bay Sands will open at … Continue reading
Posted in Alex Yemenidjian, Atlantic City, Current, Detroit, Donald Trump, Economy, Genting, Harrah's, International, Kansas, Macau, Massachusetts, Neil Bluhm, Penn National, Pennsylvania, Planet Hollywood, Racinos, Regulation, Sheldon Adelson, Singapore, Stanley Ho, Taxes, Tourism, Tribal
1 Comment
Now *this* is a scandal
During the early years of tribal gaming expansion, Native Americans had to go to Malaysia and South Africa for their startup capital — and it came at a hefty cost. Now Mohegan Sun is reeling from the delayed effects of … Continue reading
Sands IPO: bad timing?
If Steve Wynn‘s stock float for his Macao properties hit the Hong Kong bourse at the optimal moment, the tortoise-like progress of Las Vegas Sands‘ offering comes at a price. Specifically, its $1.34 opening price is at the absolute bottom … Continue reading
Posted in Current, Economy, International, Macau, Pennsylvania, Sheldon Adelson, Singapore, Steve Wynn
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F-bleau: It’s Icahn’s … or is it?
True to form, Carl Icahn sprang when you least expected him to, sneaking up on Penn National Gaming in bankruptcy court to outbid it for the bankrupt Fontainebleau in the first round of bartering (a process that will drag into … Continue reading
Case Bets: Aria, IGT, Maryland & Detroit
There was a small setback for Bally Technologies when it had to pull its iView DM systems software out of Aria. Seems MGM Mirage gave Bally a scant five days to get iView DM up, running and certified. Expect to … Continue reading
Posted in Bally Technologies, CityCenter, Current, Detroit, Economy, IGT, Maryland, MGM Mirage, Regulation, Technology, Tribal
2 Comments
Case Bets: Ensign, Angelica Bridges & the smell of Vegas
Look for ex-Mandalay Resort Group boss Mike Ensign to play a supporting role in Nightline‘s Nov. 23 exposé of, among other things, the 96 dimes in hush money he channeled to the cuckolded husband of his son’s mistress. You’ve got … Continue reading
From the mailbag #12
A former colleague, a person of upbeat disposition and someone who, along with his wife, achieved the American Dream here, recently sent ’round the following dispatch. Were it coming from somebody who was a congenital naysayer, that’d be one thing. … Continue reading
Posted in CityCenter, Current, Economy, Michael Gaughan, Morgans Hotel Group, Planet Hollywood, The Strip, Tourism
2 Comments