Category Archives: Economy

Wynn sued … twice

Posted on October 7, 2019 by David McKee

Steve Wynn is the gift you wish wouldn’t keep on giving. Wynn Resorts has been slammed with two lawsuits in a week, thanks to Wynn’s libidinous proclivities. According to Casino.org, “Steve Wynn, pressured [women] to not talk with the media, only … Continue reading →

Posted in Dan Gilbert, Dining, Economy, Entertainment, Greenwood Racing, Hard Rock International, Marketing, Massachusetts, Mohegan Sun, Ohio, Pennsylvania, Regulation, Security, Sexual misconduct, Sports, Steve Wynn, Transportation, Wynn Resorts | 1 Comment

Quote of the Day

Posted on September 30, 2019 by David McKee

“Capital remains cheap, real estate on the Strip is scarce, construction costs are high, making development prohibitive, the Las Vegas business outlook for 2020 remains strong, private equity firms are loaded up with plenty of dry powder, and REITs (real estate … Continue reading →

Posted in Economy, Real Estate, The Strip, Wall Street | Comments Off on Quote of the Day

Odds favor Trump; Whistleblower scandal at Caesars

Posted on September 30, 2019 by David McKee

Donald Trump has an excellent chance of surviving both the present impeachment inquiry and the 2020 election. That’s not punditry: It’s oddsmaking. BookerMaker.eu places The Donald as a 10/1 long shot for being unseated. Ironically, Trump nemesis Nicholas Maduro of … Continue reading →

Posted in Atlantic City, Caesars Entertainment, Canada, Conventions, Donald Trump, Economy, Election, International, Internet gambling, Sexual misconduct, The Strip, Tilman Fertitta, Wall Street | Comments Off on Odds favor Trump; Whistleblower scandal at Caesars

Too much, too soon in the East?; The DFS doctor is in

Posted on September 26, 2019 by David McKee

At last, someone is expressing skepticism over the pie-in-the-sky attitude U.S. gaming companies exude toward the Pacific Rim. The inescapable Sheldon Adelson said “ten Las Vegases” would not sate demand, But Union Gaming analysts Grant Govertsen and John DeCree think that … Continue reading →

Posted in China, CityCenter, DFS, Economy, International, Japan, Lawrence Ho, MGM Resorts International, Sports, Sports betting, Wall Street | Comments Off on Too much, too soon in the East?; The DFS doctor is in

Fertitta plays Cassandra; Reach for the sky

Posted on September 24, 2019 by David McKee

Although Atlantic City is coming off its best month in memory, Tilman Fertitta is predicting doom and gloom. “It’s not a nine-casino market, and I don’t understand why nobody realizes that,” he told The Press of Atlantic City. “You could say the … Continue reading →

Posted in Atlantic City, Boyd Gaming, Caesars Entertainment, Derek Stevens, Dining, Donald Trump, Downtown, Economy, Election, Fontainebleau, Internet gambling, Law enforcement, LVCVA, Nevada, Pahrump, Reno, Steven Witkoff, Terry Caudill, The Strip, Tilman Fertitta | 3 Comments

Two wins for Wynn; Fewer jobs in Atlantic City

Posted on September 17, 2019 by David McKee

Encore Boston Harbor continues to dominate the Massachusetts scene, with 61% of market share, compared to 25% (not bad) for MGM Springfield, the rest going to Plainridge Park. Encore grossed $85.5 million last month, MGM did $21 million and Plainridge … Continue reading →

Posted in Atlantic City, Colorado, DFS, Economy, Maryland, Massachusetts, MGM Resorts International, Oklahoma, Penn National, Resort fees, Sexual misconduct, Sports betting, The Strip, Tribal, Unite-Here, Wynn Resorts | Comments Off on Two wins for Wynn; Fewer jobs in Atlantic City

Squeezed in Schenectady; Seminoles step up

Posted on September 10, 2019 by David McKee

One of the goofs New York State made when authorizing upstate casinos was not to establish a level playing field of taxation. Rivers Casino Schenectady is hardest hit, paying 45% on its slot revenues and it’s finally decided to ask … Continue reading →

Posted in Charity, Economy, Las Vegas Sands, Lawrence Ho, Marketing, Melco Resorts & Entertainment, MGM Resorts International, New York, Rush Street Gaming, Seminole Tribe, Sheldon Adelson, Singapore, Taxes, The Strip | Comments Off on Squeezed in Schenectady; Seminoles step up

Lesser is more; Are you ready for some football betting?

Posted on September 9, 2019 by David McKee

It’s been rather vexing to hear the voices in Massachusetts squawking to have the casino-enabling legislation enacted under Deval Patrick torn up and replaced with a series of loopholes. After two years of knowing that Encore Boston Harbor was headed … Continue reading →

Posted in Economy, Entertainment, Foxwoods, Internet gambling, Marijuana, Massachusetts, MGM Resorts International, Mohegan Sun, Penn National, Philippines, Politics, Racinos, Sports betting, The Strip, Transportation, TV | 1 Comment

Quote of the Day

Posted on September 5, 2019 by David McKee

“Protests have become more violent and tense, heightening uncertainty over how all this will end. The impression among mainland Chinese that Hong Kong is not a pleasant place to travel, or even work or go to school, could be more lasting … Continue reading →

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

Quote of the Day

Posted on September 4, 2019 by David McKee

“The consumer is now carrying all of the weight, or much of the weight, for growth going forward. One thing, though, about consumer spending that you have to be careful about is it’s not really a leading indicator.”—Federal Reserve Bank of … Continue reading →

Posted in Economy | Comments Off on Quote of the Day

This just in …

Posted on September 4, 2019 by David McKee

Osaka and Tokyo are the world’s fourth- and seventh-most livable cities according to the Economist Intelligence Unit. (Tops is Vienna.) This is great news for casino companies like Las Vegas Sands and MGM Resorts International that want to set up … Continue reading →

Posted in Canada, Economy, International, Japan, Las Vegas Sands, MGM Resorts International, New York, Singapore | Comments Off on This just in …

Honeymoon over in Massachusetts; Drive like Elvis

Posted on September 3, 2019 by David McKee

Encore Boston Harbor has been open only two months. MGM Springfield just passed its one-year anniversary. And yet, the Boston Globe is already tossing around the ‘S’ word—saturation. Saying that casino executives might not like hearing it, the paper rejoined, … Continue reading →

Posted in AGA, Arizona, Caesars Entertainment, California, Economy, Entertainment, history, Massachusetts, MGM Resorts International, Mississippi, Penn National, Rhode Island, Transportation, Wynn Resorts | Comments Off on Honeymoon over in Massachusetts; Drive like Elvis

Tilman’s lucky break; Del Lago sold

Posted on August 30, 2019 by David McKee

Atlantic City‘s Golden Nugget has been on the outside of NBA betting, looking in. But that may change if Gov. Phil Murphy (D) signs what might be called the ‘Tilman Fertitta Act.’ It would allow the Nugget to take bets … Continue reading →

Posted in Atlantic City, Economy, Internet gambling, New Jersey, New York, Philippines, Politics, Sports betting, Tilman Fertitta | Comments Off on Tilman’s lucky break; Del Lago sold

Sports betting vexed in Massachusetts; Start spreading the news, they’re leaving today—and how!

Posted on August 30, 2019 by David McKee

Don’t expect sports betting in Massachusetts: Not now, maybe never. Why? Two words: Rhode Island. That state counted on $23 million in tax revenue from sports wagers—a ludicrous figure—and got $2 million. Bay State lawmakers are not only sobered by the … Continue reading →

Posted in Arizona, Connecticut, Economy, Environment, Florida, Las Vegas Raiders, Massachusetts, MGM Resorts International, Nevada, New York, Politics, Problem gambling, Rhode Island, Sports, Sports betting | Comments Off on Sports betting vexed in Massachusetts; Start spreading the news, they’re leaving today—and how!

Cherokee go to D.C. (maybe); Ivey cleaned out

Posted on August 29, 2019 by David McKee

Native American tribes have a hard time being heard in Washington, D.C.  So it was past time that the Cherokee Nation took advantage of a treaty provision two centuries old and nominated a delegate to our nation’s capitol. The actual decision … Continue reading →

Posted in Atlantic City, California, Dining, Economy, history, Iowa, Las Vegas Sands, Law enforcement, MGM Resorts International, Oklahoma, Penn National, Politics, Regulation, The Strip, Tourism, Tribal, William Hill, World Series of Poker | 1 Comment

A Majestic idea; MGM’s Springfield angst

Posted on August 28, 2019 by David McKee

Anyone remember the Greek Isles? Anybody want to? Like a phoenix rising from the ashes, the Greek Isles site will midwife the $850 million Majestic Las Vegas, designed by Paul Steelman after the style of Paul Revere Williams. It will have … Continue reading →

Posted in Architecture, Arizona, Caesars Entertainment, CityCenter, Connecticut, Dining, Economy, Foxwoods, LVCVA, Massachusetts, MGM Resorts International, Mohegan Sun, New York, Security, Technology, The Strip, Transportation, Wynn Resorts | 1 Comment

Quote of the Day

Posted on August 26, 2019 by David McKee

“Slave labor was no match for canals, railroads, steel mills and shipyards. Slavery — and the parochial rent-seeking culture it promoted — inhibited the growth of capitalism in the South.”—Karl W. Smith on the 400th anniversary of slavery in the … Continue reading →

Posted in Economy, history | Comments Off on Quote of the Day

Resort fees likely to worsen; Fertitta preaches caution

Posted on August 22, 2019 by David McKee

All hail Terry Caudill. His Four Queens is one of the very few hotel-casinos in Las Vegas to eschew resort fees. At least that’s what the Reno Gazette-Journal tells us. The RGJ took a deep dive into the resort-fee issue … Continue reading →

Posted in Atlantic City, Boyd Gaming, Caesars Entertainment, Downtown, Economy, Eldorado Resorts, Full House Resorts, Indiana, International, Internet gambling, Laughlin, Law enforcement, MGM Resorts International, Penn National, Resort fees, Sports, Sports betting, Terry Caudill, Tilman Fertitta, Wall Street | 2 Comments

MGM Springfield plays rope-a-dope; Big break for Cordish

Posted on August 20, 2019 by David McKee

With MGM Springfield well short of revenue projections (and cutting jobs), President Michael Mathis was sent out to do PR damage control. “I feel good about the trajectory,” he claimed. He blamed Foxwoods Resort Casino and Mohegan Sun for the shortfall: We … Continue reading →

Posted in Architecture, Arkansas, Cordish Co., Delaware, Dining, Economy, Election, Foxwoods, Iowa, Massachusetts, MGM Resorts International, Mohegan Sun, New Mexico, Pennsylvania, Regulation, Rhode Island, Rush Street Gaming, Sports, Sports betting, Taxes, Tribal, Wynn Resorts | 1 Comment

Like a Virgin; Chicago casino kaput?

Posted on August 18, 2019 by David McKee

The soon-to-be-ex Hard Rock Hotel is taking an enormous gamble. Instead of trying to operate during the rebranding-and-renovation phase from which it will emerge as Virgin Las Vegas, it is going to close down completely. You read that right. The … Continue reading →

Posted in Donald Trump, Economy, Genting, Hard Rock Hotel, Illinois, Macau, MGM Resorts International, Nevada, Taxes, Technology, The Strip, Transportation, Wall Street, Wynn Resorts | Comments Off on Like a Virgin; Chicago casino kaput?