Category Archives: Economy

F'blown?

Posted on May 13, 2009 by David McKee

Ownership at Fontainebleau is alleging heinous doings by Deutsche Bank to subvert F'bleau (which gives every indication of being destined to fail without external assistance). Supposedly, Deutsche Bank was confabulating with a consortium of 10 other banks to shove F'bleau … Continue reading →

Posted in Cosmopolitan, Economy, Fontainebleau, MGM Mirage, The Strip, Wall Street | Comments Off on F'blown?

F'blown?

Posted on May 13, 2009 by David McKee

Ownership at Fontainebleau is alleging heinous doings by Deutsche Bank to subvert F'bleau (which gives every indication of being destined to fail without external assistance). Supposedly, Deutsche Bank was confabulating with a consortium of 10 other banks to shove F'bleau … Continue reading →

Posted in Cosmopolitan, Economy, Fontainebleau, MGM Mirage, The Strip, Wall Street | Comments Off on F'blown?

Case Bets: Caesars, Criss Angel, Lance Burton, Earl & Lani and Trent

Posted on May 13, 2009 by David McKee

Seen last night by an S&G source, Pit One at Caesars Palace empty save for one or two baccarat players. It’s just a small indicator of a larger disconnect that I hope to address later. PR flack Robin Leach has … Continue reading →

Posted in Cirque du Soleil, Colony Capital, Current, Economy, Encore, Entertainment, Harrah's, MGM Mirage, Planet Hollywood, Steve Wynn, The Strip, Tropicana Entertainment | Comments Off on Case Bets: Caesars, Criss Angel, Lance Burton, Earl & Lani and Trent

Quote of the Day

Posted on May 13, 2009 by David McKee

"We don't see them getting worse. The problem is we don't see them getting better." — Boyd Gaming CEO Keith Smith on 2009-10 tourism statistics for Las Vegas.

Posted in Boyd Gaming, Downtown, Economy, LVCVA, The Strip | Comments Off on Quote of the Day

Chump change for Trop

Posted on April 29, 2009 by David McKee

While there has been no shortage of bad decisions in the casino industry of late, the Dunce of the Year winner for 2008 and presumptive favorite for 2009 has got to be Tropicana Atlantic City conservator Gary Stein. This former … Continue reading →

Posted in Atlantic City, Colony Capital, Cordish Co., Donald Trump, Economy, Regulation, Tropicana Entertainment | Comments Off on Chump change for Trop

Case Bets: Isle exits U.K.; no room at the Trop; Carlino channels Astaire, etc.

Posted on April 24, 2009 by David McKee

Isle of Capri Casinos is coming up for air, literally extricating itself from underneath Ricoh Stadium in Coventry, U.K. As part of CEO James Perry‘s attempt to refocus a company that spread itself too thin under his predecessor, he’s walking … Continue reading →

Posted in Atlantic City, California, Colony Capital, Columbia Sussex, Current, Detroit, Economy, Florida, Goldman Sachs, Illinois, International, Isle of Capri, MGM Mirage, Penn National, Regulation, The Strip, Tropicana Entertainment, Wall Street | Comments Off on Case Bets: Isle exits U.K.; no room at the Trop; Carlino channels Astaire, etc.

Exit, pursued by a bear market

Posted on April 17, 2009 by David McKee

Aside from the occasional murmur by Wynn Las Vegas prexy Andrew Pascal, executives at Wynn Resorts keep a low (read: invisible) profile. Even the most assiduous follower of the casino industry would have trouble naming Wynn’s CFO off the cuff. … Continue reading →

Posted in Atlantic City, Boyd Gaming, Economy, Encore, Harrah's, IGT, Illinois, Macau, MGM Mirage, Pinnacle Entertainment, Sheldon Adelson, Steve Wynn, The Strip, Wall Street | Comments Off on Exit, pursued by a bear market

Icahn vs. Kerkorian II; Ho hearts Adelson

Posted on April 17, 2009 by David McKee

Yesterday saw some intemperate spluttering in newspaper comment threads, along the lines “How dare the Wall Street Journal report the news? It might damage stock prices!” (One hothead even bruited the possibility of a libel suit.) All of which was … Continue reading →

Posted in Carl Icahn, Economy, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Sheldon Adelson, Stanley Ho, Steve Wynn, Wall Street | Comments Off on Icahn vs. Kerkorian II; Ho hearts Adelson

First, some good news

Posted on April 16, 2009 by David McKee

In a refreshing change of pace comes news of a casino that’s on schedule for its opening. OK, so it’s in Dodge City, Kansas, but we’ll take good news wherever we can get it these days. Whoever thought avionics firm … Continue reading →

Posted in Downtown, Economy, Entertainment, Herbst Gaming, Kansas, Labor, LVCVA, Marketing, Mesquite, Sheldon Adelson, Station Casinos, The Strip | Comments Off on First, some good news

Grab your ankles, casinos

Posted on April 15, 2009 by David McKee

Nevada lawmakers’ revenue model. There’s one industry that does far and away more than any other to pay the bar tab for the State of Nevada and it’s probably about to be mandated to pay even more. That’s because even … Continue reading →

Posted in Baseball, Economy, Politics, Steve Wynn, Taxes | Comments Off on Grab your ankles, casinos

Grab your ankles, casinos

Posted on April 15, 2009 by David McKee

Nevada lawmakers’ revenue model. There’s one industry that does far and away more than any other to pay the bar tab for the State of Nevada and it’s probably about to be mandated to pay even more. That’s because even … Continue reading →

Posted in Baseball, Economy, Politics, Steve Wynn, Taxes | Comments Off on Grab your ankles, casinos

Quote of the Day

Posted on April 15, 2009 by David McKee

“I say I would greet him if he would rectify the record. I think he owes it to us, and I say that respectfully, to say Las Vegas is a great place to come and do business.” — Las Vegas … Continue reading →

Posted in Current, Downtown, Economy, Politics | Comments Off on Quote of the Day

A delicate balance

Posted on April 7, 2009 by David McKee

Another day, a little more movement in the CityCenter situation. Well, it's that or talk about tourism and gaming revenue numbers that are too depressing to contemplate for long. Time was that the American banking industry was practically giving away … Continue reading →

Posted in Colony Capital, Current, Detroit, Economy, James Packer, M Resort, MGM Mirage, Penn National, Station Casinos, The Strip, Wall Street | Comments Off on A delicate balance

MGM Mirage sells family jewels

Posted on April 6, 2009 by David McKee

Desperation has well and truly hit the fan at MGM Mirage. The company’s Strip casinos may not be priced to move … but it’s said to be quite a different story where MGM Grand Detroit and Beau Rivage are concerned. … Continue reading →

Posted in Atlantic City, Colony Capital, Current, Detroit, Economy, Illinois, James Packer, Macau, MGM Mirage, Phil Ruffin, Sheldon Adelson, Stanley Ho, The Strip, Wall Street | Comments Off on MGM Mirage sells family jewels

Leper Colony

Posted on April 3, 2009 by David McKee

Or, in lieu of "Atlantic City Death Watch VII," maybe "Colony Death Watch." Scarcely had S&G dubbed Colony Capital's East Coast casino portfolio "Colony Crapital" than came affirmation in the form of the latest set of numbers from the Boardwalk. … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colony Capital, Donald Trump, Economy, Harrah's, James Packer, MGM Mirage, Steve Wynn | Comments Off on Leper Colony

The Company That Ate Itself

Posted on April 1, 2009 by David McKee

Perhaps it was with dry irony that the Las Vegas Review-Journal's latest Station Casinos story's subhead read, "Company blames economy, poached customers." And by whom might those customers have been poached? By Station Casinos itself! The company's imperial overreach has … Continue reading →

Posted in Boulder Strip, Cannery Casino Resorts, Colony Capital, Economy, Herbst Gaming, M Resort, Station Casinos, The Strip | Comments Off on The Company That Ate Itself

Hooters vs. Riviera

Posted on March 31, 2009 by David McKee

It's a race to Chapter 11 now, with Riviera Holdings in the lead. Its glandular-themed rival down the street is opting out of an interest payment and drawing down the last of its credit, never a promising sign. However, Riviera … Continue reading →

Posted in Colorado, Economy, Harrah's, Riviera, Station Casinos, The Strip, Wall Street | Comments Off on Hooters vs. Riviera

Un-Believe-able discounts

Posted on March 30, 2009 by David McKee

Seen yesterday at the Luxor ticket booth: A video message promising 35% off Believe tickets if you stay at the King Tut place between Tuesday and Thursday (inclusive). Heck, just last week Luxor trotted out one of the most “george” … Continue reading →

Posted in Cirque du Soleil, Dining, Economy, Entertainment, MGM Mirage, The Strip | Comments Off on Un-Believe-able discounts

Trop snoozes, loses

Posted on March 26, 2009 by David McKee

Like a hot potato, the Tropicana Las Vegas continues to bounce from Columbia Sussex to Tropicana Entertainment and now maybe into the hands of Alex Yemenidjian. (This management-contract arrangement looks more like laying the groundwork for a sale … if … Continue reading →

Posted in Alex Yemenidjian, Architecture, Atlantic City, Columbia Sussex, Current, Economy, Entertainment, Harrah's, Indiana, Marketing, Technology, The Strip, Tropicana Entertainment, Wall Street | Comments Off on Trop snoozes, loses

The Unlucky Club & other Case Bets

Posted on March 26, 2009 by David McKee

Did somebody build the inaptly named Lucky Club  (above) over an Indian burial ground? A deprivation of access is but the latest indignity suffered by this North Las Vegas grind joint. While it was still the Speedway Casino, it was … Continue reading →

Posted in Architecture, Current, Economy, Encore, Entertainment, Lake Las Vegas, Marketing, Politics, Problem gambling, Regulation, Sheldon Adelson, Steve Wynn, The Strip | Comments Off on The Unlucky Club & other Case Bets