Category Archives: Economy

Quote of the Day

Posted on August 14, 2019 by David McKee

“If the free-wheeling, free-market system of the 20th century really has hardened into an oligarchy in the 21st, it could foreshadow collapsing trust in institutions—some of which we’ve already seen—and political instability. Without the promise that bold risk-taking and/or hard … Continue reading →

Posted in Current, Economy | Comments Off

Canaries in the coal mine, casinos in the slums

Posted on August 14, 2019 by David McKee

Stocks nose-dived yesterday after “an odd bond market phenomenon that has been a reliable indicator of economic recessions. Investors, worried about the state of the economy, rushed to long-term safe haven assets, pushing the yield on the benchmark 30-year Treasury bond … Continue reading →

Posted in Donald Trump, Economy, Greenwood Racing, Illinois, International, Iowa, Law enforcement, Macau, Massachusetts, Penn National, Pennsylvania, Politics, Regulation, Sports betting, Taxes, Wall Street, Wynn Resorts | 3 Comments

Arkansas casino a ladder out of poverty; Rodio confesses resort-fee addiction

Posted on August 8, 2019 by David McKee

Arkansas‘ evolution into a casino state is coming with surprisingly few growing pains. Which is not to say there isn’t a burden of expectations on the new properties. $350 million Saracen Casino Resort will be expected to alleviate the woes … Continue reading →

Posted in Animals, Arkansas, Caesars Entertainment, Economy, Florida, Illinois, Mandalay Bay Massacre, Resort fees, The Strip, Tribal, Wisconsin | Comments Off

Wynn, Station disappoint Wall Street

Posted on August 7, 2019 by David McKee

JP Morgan analyst Joseph Greff took a look at Wynn Resorts‘ second-quarter numbers and deemed them “a mixed bag.” The good news: Cash flow in Las Vegas, expected to be $109 million, manifested itself at $137 million. The sorta-bad news: There … Continue reading →

Posted in Economy, Golden Gaming, Macau, Maryland, Massachusetts, Palms, Slot routes, Station Casinos, The Strip, Tribal, Wall Street, Wynn Resorts | Comments Off

Caesars nixes Strip project; IGT in New England brawl

Posted on August 2, 2019 by David McKee

Caesars Entertainment has officially spiked the Kind Heaven immersive experience, part Blade Runner and part Jungle Book. VitalVegas author said of the Perry Farrell pipe dream, when it was unveiled last year, that the details ranged “from breathtakingly original to laughably … Continue reading →

Posted in Australia, Caesars Entertainment, Churchill Downs, Crown Resorts, Downtown, Economy, Eldorado Resorts, Entertainment, IGT, Illinois, Law enforcement, Politics, Rhode Island, Scientific Games, Sports betting, The Strip, Tribal, Twin River, Wendover, William Hill | Comments Off

Wynn tops in U.S. casinos; Crown in hot water again

Posted on July 30, 2019 by David McKee

Steve Wynn got some love from the contributors to TripAdvisor, whose top-three-ranked casinos in America are Wynn Las Vegas, Encore and Beau Rivage, a vindication of Wynn’s spare-no-detail approach. However, Bellagio may be showing its age, clocking in at a … Continue reading →

Posted in Atlantic City, Australia, Boulder Strip, Boyd Gaming, Caesars Entertainment, CityCenter, Cosmopolitan, Crown Resorts, Detroit, Downtown, Economy, Eldorado Resorts, Foxwoods, Golden Gaming, Indiana, Iowa, Las Vegas Sands, Law enforcement, Louisiana, M Resort, Macau, MGM Resorts International, Mississippi, Mohegan Sun, North Las Vegas, Oklahoma, Penn National, Pennsylvania, Politics, Reno, Station Casinos, Steve Wynn, Terry Caudill, The Strip, Tourism, Tribal, TV, Wynn Resorts | 1 Comment

Eldorado’s Caesars gamble; Chicago casino not welcomed

Posted on July 29, 2019 by David McKee

For those of you who are beginning to have misgivings about the Eldorado Resorts takeover of Caesars Entertainment, add The Motley Fool‘s Travis Hoium. The latter is almost never wrong, so we pay attention when he writes that “The final … Continue reading →

Posted in Caesars Entertainment, Economy, Eldorado Resorts, Genting, Illinois, New York, Politics, Wall Street | 2 Comments

Wynn stirs Boston melting pot

Posted on July 9, 2019 by David McKee

Wynn Resorts is already changing the face of Boston. As reported by the Boston Globe, unprecedented diversity is manifesting itself at Encore Boston Harbor. Mad props to Wynn for bringing people of all colors and creeds together in this fashion. … Continue reading →

Posted in AGA, Diversity, Economy, International, Massachusetts, Sports betting, Wynn Resorts | Comments Off

Rivers Casino’s threefold secret

Posted on July 8, 2019 by David McKee

It can be summed precisely as follows: location, location, location. Not only is Rivers Casino Des Plaines proximate to both Chicago and O’Hare International Airport, it sits at the nexus of two interstate highways, literally within a stone’s throw of … Continue reading →

Posted in Architecture, Boyd Gaming, Caesars Entertainment, Churchill Downs, Economy, Eldorado Resorts, GLPI, Golden Gaming, Harrah's, Illinois, Kazuo Okada, Macau, Penn National, Philippines, Rush Street Gaming, Singapore, Station Casinos, Steve Wynn | Comments Off

Caesars is dead, long live Caesars

Posted on June 26, 2019 by David McKee

After much flirtation, Eldorado Resorts has consummated its courtship of Caesars Entertainment. In a deal that values the latter at $18 billion (or $12.75/share), Eldorado will buy Caesars for $8.6 billion in cash, plus the assumption of debt. Two previous … Continue reading →

Posted in Caesars Entertainment, Carl Icahn, Charity, Culinary Union, Donald Trump, Economy, Eldorado Resorts, Internet gambling, Nevada, New Hampshire, Regulation, Reno, Scientific Games, Station Casinos, The Mob, TV, Wall Street, World Series of Poker | 3 Comments

Encore ready for its closeup; Reinventing Reno

Posted on June 19, 2019 by David McKee

“Industrial afterthought” Everett becomes home to a five-star casino-hotel starting Sunday. Encore Boston Harbor is obviously optimistic, judging by the $650/night base room rate. Of the three gambling-enabled Massachusetts locales, parent company Wynn Resorts got the plum and now it … Continue reading →

Posted in Economy, Galaxy Entertainment, Kansas, Las Vegas Sands, Macau, Massachusetts, Melco Resorts & Entertainment, MGM Resorts International, Missouri, Planet Hollywood, Reno, Sociedade de Jogos de Macau, Taxes, Wynn Resorts | Comments Off

Case Bets

Posted on June 14, 2019 by David McKee

* Shares in Australian casino company Star Entertainment tumbled after it disclosed that the U.S./China trade war is impinging on profitability. “The very large VIPs continue to travel but they don’t take as many risks as they have in the … Continue reading →

Posted in Australia, Canada, Economy, Genting, International, Law enforcement, Macau, Mississippi, Mohegan Sun, New Mexico, New York, Penn National, Philippines, Rush Street Gaming, Sports, Sports betting | Comments Off

Record year for U.S. casinos; Boyd lauded

Posted on June 11, 2019 by David McKee

While the gaming industry seems to be straining at the limits of how far it can expand in the good old U.S. of A. the numbers don’t lie: The casino industry posted a record $41.7 billion last year. That’s a … Continue reading →

Posted in AGA, Boyd Gaming, Caesars Entertainment, Economy, Full House Resorts, Illinois, Indiana, Majestic Star, Penn National, Sports, Transportation, Wall Street | Comments Off

Wire Act reversal reversed; China scare for Las Vegas

Posted on June 10, 2019 by David McKee

A federal judge dealt a major defeat to the Justice Department in its efforts to reinterpret the Federal Wire Act as a ban on Internet gambling. Nope, only sports betting ruled Judge Paul Barbadoro. The ruling is a boon to … Continue reading →

Posted in Atlantic City, Caesars Entertainment, Economy, Eldorado Resorts, Entertainment, Florida, Hard Rock International, Indiana, International, Internet gambling, Law enforcement, Lotteries, Marketing, Mohegan Sun, Ocean Resort, Palms, Pennsylvania, Regulation, Seminole Tribe, Sheldon Adelson, Singapore, Sports betting, Station Casinos, Tourism, Tribal, Unite-Here, Wall Street, World Series of Poker | Comments Off

Memo from Murren

Posted on May 31, 2019 by David McKee

The MGM 2020 axe continues to fall. Company employees received the following open letter from CEO Jim Murren … “Dear Colleagues: “I want to begin this note by thanking so many of you for your patience, support and focus over … Continue reading →

Posted in Current, Economy, Massachusetts, MGM Resorts International, Tourism, Wynn Resorts | Comments Off

Anxiety over Japan; Profit squeeze in Atlantic City

Posted on May 28, 2019 by David McKee

Think Japan‘s going to have casinos open in time for the 2025 World Expo? Think again. Shinzo Abe‘s ruling Liberal Democratic Party is postponing the regulations governing casino bidding until after next year’s elections. That’s bad news for Osaka, in particular, … Continue reading →

Posted in Atlantic City, Caesars Entertainment, Economy, Eldorado Resorts, Hard Rock International, Internet gambling, Japan, Las Vegas Sands, Melco Resorts & Entertainment, MGM Resorts International, Mohegan Sun, North Carolina, Ocean Resort, Politics, Sports betting, Tribal, Wall Street | 1 Comment

The value of a dollar & other Case Bets

Posted on May 28, 2019 by David McKee

If you’re making up your casino budget, you might want to stay away from Atlantic City or New York State, where a dollar has only the buying power of 87 or 88 cents. By contrast, the same dollar spent in … Continue reading →

Posted in Atlantic City, Cosmopolitan, Derek Stevens, Economy, Hawaii, history, Indiana, MGM Resorts International, Michigan, Mississippi, Missouri, Nevada, New York, Ohio, Sports betting, The Strip, TV, William Hill | Comments Off

Worries from the Far East & other Case Bets

Posted on May 22, 2019 by David McKee

This goes in the Not A Great Idea file. Macao, still down from its go-go years, is thinking of implementing a tax on tourists. No kidding. It’s even gathering poll data on how the money should be spent, even before … Continue reading →

Posted in Economy, Japan, Las Vegas Sands, M Resort, Macau, Penn National, Pennsylvania, Sheldon Adelson, Taxes, Tribal | Comments Off

Harrah’s wants its money back; Lucky Dragon investors grumble

Posted on May 22, 2019 by David McKee

They’ve got brass balls at Harrah’s New Orleans. Not only do they want an early extension of their terra forma monopoly, which expires in 2024, they want a big-ass tax rebate to go with it. At stake is a 2001 … Continue reading →

Posted in Caesars Entertainment, Dining, Donald Trump, Economy, Louisiana, Lucky Dragon, Midnight Jim Gibbons, Nevada, Regulation, Reno, Resort fees, Taxes | Comments Off

Snakes in a casino & other Case Bets

Posted on May 16, 2019 by David McKee

Well, I’m never setting foot in Binion’s Gambling Hall again. A butt-ugly (but evidently non-poisonous) snake got in and made itself comfy in the roulette wheel. Security merely escorted the reptile inside, so there’s no telling whether there will be … Continue reading →

Posted in Animals, Caesars Entertainment, Charity, Derek Stevens, Downtown, Economy, Environment, Marketing, MGM Resorts International, Missouri, Nevada, Problem gambling, Real Estate, Technology, Transportation | Comments Off