Category Archives: Economy

Quote of the Day

Posted on November 16, 2009 by David McKee

“We’re trying to let the community know that we are here and we are here to stay for a while.” — ominous words from Glenn Koehler, Columbia Sussex‘s director of the Horizon casino-hotel in Lake Tahoe. Landlord Park Cattle Co. … Continue reading →

Posted in Columbia Sussex, Current, Economy, Lake Las Vegas, Regulation, Tropicana Entertainment | Comments Off on Quote of the Day

What a difference four years makes; Lowden follies

Posted on November 13, 2009 by David McKee

In the course of correcting the record about former North Las Vegas mayor — and current gubernatorial aspirant — Michael Montandon (R) on a different Web site, I had to cause to dust off an old press clipping. Back when … Continue reading →

Posted in Archon Corp., Boyd Gaming, Economy, Election, Gary Goett, North Las Vegas, Politics, Station Casinos | 1 Comment

Station vs. Richfield; Operation Showgirl; The Wayner, etc.

Posted on November 12, 2009 by David McKee

What made 130+ houses (and a clutch of apartment buildings) behind Palace Station so important that Station Casinos — currently busy sweating video poker play — was paying three and four times market value during a period when the Las … Continue reading →

Posted in Alex Yemenidjian, Archon Corp., Current, Economy, Harrah's, Harry Reid, Marketing, Politics, Station Casinos, TV | 8 Comments

Strip bottoming out

Posted on November 10, 2009 by David McKee

September’s Nevada gaming revenue numbers are in and the good news is that the Strip is only -4% year/year. (Strip revs were down all of ’08 but didn’t fall off the cliff until October, when they tumbled 26%.) This makes … Continue reading →

Posted in Aristocrat, Boulder Strip, Boyd Gaming, Columbia Sussex, Current, Economy, G2E, Harrah's, Herbst Gaming, International, Isle of Capri, Macau, Mesquite, Ohio, Reno, Sheldon Adelson, Stanley Ho, Station Casinos, Steve Wynn, The Strip, Tourism, Transportation, Wall Street | Comments Off on Strip bottoming out

Trouble in River City

Posted on November 9, 2009 by David McKee

In a shocking development that’s bound to set tongues a-wagging, Pinnacle Entertainment CEO Dan Lee has “resigned to pursue other business interests” (industry-speak for “Don’t let the doorknob hit you in the butt”). The buzz is that Pinnacle’s strategy was … Continue reading →

Posted in Atlantic City, Boyd Gaming, Columbia Sussex, Current, Economy, Fontainebleau, Harrah's, Louisiana, Missouri, Pinnacle Entertainment, Planet Hollywood, Politics, Regulation, Station Casinos | 8 Comments

Best idea of the week … or year

Posted on November 6, 2009 by David McKee

From our Today’s News feed: “Until now, MGM Mirage exercised a policy of having each property in the group compete with the others, as if they were totally independent competing entities. It was a strategy designed to keep salespeople ‘on … Continue reading →

Posted in California, CityCenter, Current, Economy, Entertainment, Environment, Harrah's, Marketing, MGM Mirage, Ohio, Penn National, Plaza, Steve Wynn | 2 Comments

Quote of the Day

Posted on November 5, 2009 by David McKee

“It appears the U.S. gaming pie is not getting bigger, and the slices continue to get smaller.” — Moody’s analyst Keith Foley on the impact of Ohio casinos on an already-shrinking revenue base. Southern Indiana looks to get hit especially … Continue reading →

Posted in Current, Economy, Indiana, Ohio, Wall Street | 1 Comment

The evils of bingo; Wynn’s Aqueduct exit

Posted on November 5, 2009 by David McKee

America’s sixth-largest casino is in rural Alabama and it commands hotel prices comparable to CityCenter. Its 6,400 Class II devices mean that VictoryLand (above) is one gargantuan e-bingo hall. Due to the state’s patchwork set of laws, e-bingo is legal … Continue reading →

Posted in Alabama, Cretins, Current, Economy, Harrah's, International, Isle of Capri, Louisiana, New York, Pinnacle Entertainment, Politics, Racinos, Singapore, Steve Wynn, Taxes | 1 Comment

“It’s a bargain hunter’s paradise”

Posted on November 4, 2009 by David McKee

So sayeth our own Anthony Curtis, toward the end of a superb MSNBC analysis of the impending impact of CityCenter. Other industry moguls, including Sheldon Adelson and Steve Wynn, take a cautious but hopeful view. Even the normally optimistic Bill … Continue reading →

Posted in CityCenter, Cordish Co., Economy, Kansas, Maryland, MGM Mirage, Penn National, Regulation, Sheldon Adelson, Steve Wynn, Tourism, TV, Wall Street | 2 Comments

Wynn bails on N.Y.

Posted on November 4, 2009 by David McKee

As they come into the backstretch on the bidding for a racino at New York‘s Aqueduct Racetrack, one contender has pulled out of the race: Steve Wynn. Did he balk at the $200 million upfront fee? Penn National Gaming basically … Continue reading →

Posted in Current, Downtown, Economy, Florida, Harrah's, Macau, MGM Mirage, New York, Racinos, Regulation, Sheldon Adelson, Stanley Ho, Steve Wynn, Tilman Fertitta, Transportation, Tribal, Wall Street | Comments Off on Wynn bails on N.Y.

Quote of the Day

Posted on November 4, 2009 by David McKee

“It’s pretty obvious that the Ohio electorate bought into the whole culture of despair that’s going on with the economy.” — casino opponent and Ohio Policy Roundtable member David Zanotti, bewailing last night’s ratification of Class III gambling in the … Continue reading →

Posted in Current, Economy, Election, Ohio, Penn National, Politics, Taxes | 1 Comment

Meet the new Cincinnati Kid

Posted on November 4, 2009 by David McKee

For our purposes, the main headline comes from Ohio, where Issue 3 passed amid heavy voter turnout — if not by the wide margin pollsters had forecast. (At least they didn’t screw the pooch like all those pollsters who had … Continue reading →

Posted in Atlantic City, Bally Technologies, Current, Economy, Election, Horseracing, IGT, Ohio, Penn National, Politics, Racinos, Regulation, Taxes, WMS Industries | 2 Comments

Mermaids in Macao

Posted on November 3, 2009 by David McKee

Some lovely footage, mostly for the heck of it, although indicators continue to suggest that Steve Wynn got into the Hong Kong bourse at just the right moment and Sheldon Adelson will miss the tide.

Posted in Economy, Lawrence Ho, Macau, Melco Crown Entertainment, Sheldon Adelson, Stanley Ho, Steve Wynn | Comments Off on Mermaids in Macao

Steve Wynn drinks his own bathwater

Posted on November 3, 2009 by David McKee

I’ll confess to having been sufficiently out of touch not to have heard about the “Wynncore” parody site on which blogger Chuck Monster was laboring. Anybody who’s used the sluggish Wynn Resorts Web site will appreciate the home page (“Loading … Continue reading →

Posted in Alex Yemenidjian, Current, Economy, Encore, G2E, Marketing, Mississippi, Steve Wynn, Technology, The Strip, Transportation, Tropicana Entertainment, TV | 5 Comments

The Dollar Bills strike again; caution at IGT

Posted on November 2, 2009 by David McKee

Those masters of quality on a budget, Millennium Gaming CEOs William Paulos and William Wortman have found a new target of opportunity: New Hampshire. Using the Rockingham Park horse track as their base of operations, the Dollar Bills are helping … Continue reading →

Posted in Cannery Casino Resorts, CityCenter, Economy, Harrah's, IGT, Massachusetts, Racinos, Technology, Wall Street | 1 Comment

Quote of the Day

Posted on November 2, 2009 by David McKee

“Penn [National Gaming] said it is still struggling with a consumer spending pullback prompted by the recession. Gamblers have spent less in the casino on non-gaming components such as food, drinks and hotels during the economic downturn as they look … Continue reading →

Posted in Economy, Fontainebleau, Pennsylvania, Wall Street | Comments Off on Quote of the Day

Dark days for the clown house?

Posted on November 2, 2009 by David McKee

During all the economic Sturm und Drang of the last two years, MGM Mirage has — to its great credit — not been shy about offering comps, discounts and promotions to keep people coming back. However, its latest promotional allowances … Continue reading →

Posted in Boyd Gaming, Current, Economy, Fontainebleau, Marketing, MGM Mirage, Riviera, The Strip, Tourism | 1 Comment

Case Bets: CityCenter, Boyd odyssey, Massachusetts & the “Admiral”

Posted on November 2, 2009 by David McKee

There’s continued apprehension about MGM Mirage‘s $8.5 billion, 7,200-unit CityCenter, especially now that hotel rooms there are going for less than ones at either the Venetian or Encore. (Thinking positively: Who knew CityCenter was going to be so affordable?) Business … Continue reading →

Posted in Architecture, Boyd Gaming, CityCenter, Current, Economy, Encore, Harrah's, Kansas, Massachusetts, MGM Mirage, Missouri, Ohio, Pennsylvania, Pinnacle Entertainment, Sheldon Adelson, The Strip, Tourism, Wall Street | 8 Comments

Quote of the Day

Posted on October 31, 2009 by David McKee

“What [Steve] Wynn forgets is that his tired old trickle-down-and-deregulate song-and-dance is exactly what got us into this fine mess in the first place.” — Las Vegas CityLife Managing Editor Andrew Kiraly, on Wynn’s reinvention as a political pundit. CityLife … Continue reading →

Posted in Economy, Entertainment, Labor, Politics, Regulation, Steve Wynn | Comments Off on Quote of the Day

They’re just wild about Harry

Posted on October 30, 2009 by David McKee

Despite his (at best) tepid standing with the Nevada electorate — whether the right or the left — Sen. Harry Reid (D) has almost every important name in the casino industry in his corner. Sheldon Adelson may yet choose to … Continue reading →

Posted in Archon Corp., Cordish Co., Economy, Election, Entertainment, Harrah's, Harry Reid, International, Macau, Maryland, MGM Mirage, Pennsylvania, Politics, Regulation, Sheldon Adelson, Singapore, Station Casinos, Steve Wynn, Taxes, TV, Wall Street | Comments Off on They’re just wild about Harry