Category Archives: Economy

Wynn at risk; Christmas stocking for Station, Boyd, etc.

Posted on December 26, 2018 by David McKee

Steve Wynn might want to think twice about buying back into Wynn Resorts. Stock analyst Frank Fantini thinks the company’s Macao holdings might be made an example in the U.S./China trade war. Fantini believes Beijing could target “companies that are not … Continue reading →

Posted in Boyd Gaming, Economy, Golden Gaming, Macau, MGM Resorts International, Nevada, Pansy Ho, Reno, Sheldon Adelson, Station Casinos, Steve Wynn, Wall Street, Wynn Resorts | Comments Off

Christmas Case Bets

Posted on December 24, 2018 by David McKee

Macao is expected to set a record for visitation this, no doubt to the delight of casino executives in the enclave. If 32.5 million tourists came in 2017, they will be topped by the 35 million who came this year … Continue reading →

Posted in Architecture, Baseball, Caesars Entertainment, Detroit, Economy, Hard Rock Hotel, Internet gambling, Macau, Politics, Station Casinos, Taxes, Tourism, Transportation, Tribal, Virginia, World Series of Poker | Comments Off

Bad idea refuses to die; E-sports comes to the Boardwalk

Posted on December 20, 2018 by David McKee

Sens, Chuck Schumer (D) and Orrin Hatch (R), forever in search of bad ideas to espouse, it would seem, have introduced the Sports Wagering Market Integrity Act of 2018. There’s no mention of Hatch’s cockamamie notion of individual states having … Continue reading →

Posted in AGA, Atlantic City, Dining, e-sports, Economy, Marketing, MGM Resorts International, New Jersey, Politics, Racinos, Sports, Sports betting, Station Casinos, The Strip, Tourism, Wall Street | 1 Comment

Christmas in Vegas; Study: Millennials’ impact overrated

Posted on December 18, 2018 by David McKee

I don’t believe this. WalletHub has ranked Las Vegas the second-best city in which to celebrate Christmas. Don’t get me wrong but I can’t think of anything more dispiriting than to spend Jesus’ birthday surrounded by slot machines instead of … Continue reading →

Posted in Boulder Strip, Boyd Gaming, Economy, Entertainment, Genting, Macau, Marketing, The Strip, Wynn Resorts | 2 Comments

Atlantic City sparks controversy; Resort fee change at Cosmo

Posted on December 14, 2018 by David McKee

Faced with a 9% drop in operating profit at Atlantic City casinos, pundits are squaring off as to whether this means doom for the laggards. Analyst Tony Marino told The Press of Atlantic City that it “might be wise to … Continue reading →

Posted in Atlantic City, Cosmopolitan, Economy, International, Internet gambling, Neil Bluhm, Penn National, Pennsylvania, Politics, Resort fees, Rush Street Gaming, Sports, Sports betting, Technology, The Strip, Transportation, Wynn Resorts | 2 Comments

Scientific pays up; Clouds over Macao

Posted on December 14, 2018 by David McKee

“While we firmly believe that the jury decision was wrong, we are pleased with the outcome of the settlement and that this matter will be resolved for good,” said Scientific Games Chief Legal Officer James Sottile, trying to spin a … Continue reading →

Posted in Caesars Entertainment, Colony Capital, Donald Trump, Economy, Japan, Las Vegas Sands, Law enforcement, Macau, Melco Resorts & Entertainment, Scientific Games, Sheldon Adelson, Steve Wynn, Transportation, Wall Street, Wynn Resorts | 1 Comment

Xi caught in the act; Vegas economy looking up

Posted on December 13, 2018 by David McKee

If Donald Trump wants to get tough on Chinese President Xi Jinping, he may just have been handed an excuse courtesy of Starwood. Indeed, White House retaliation may already be teed up like a golf ball at Mar-A-Lago. According to … Continue reading →

Posted in Caesars Entertainment, Donald Trump, Economy, history, International, Law enforcement, The Strip, Wall Street | 1 Comment

Moderate-sized trouble in Little China

Posted on December 12, 2018 by David McKee

There’s trouble ahead for Macao but the casino industry has plenty of time to brace for impact. Credit in China is down 6% year over year. As Credit Suisse analyst Cameron McKnight reports, “Weak credit data is likely to exacerbate … Continue reading →

Posted in Dining, Economy, Galaxy Entertainment, Las Vegas Sands, Macau, Melco Resorts & Entertainment, MGM Resorts International, Sociedade de Jogos de Macau, Tourism, Transportation | Comments Off

SJM: Aren’t we special?

Posted on December 11, 2018 by David McKee

Sociedade de Jogos de Macau must think it’s pretty special. While its straggling Grand Lisboa Palace will stock some table games via the ‘cap-and-trade’ formula used by other operators, it has loftily informed the press that it expects the Macao … Continue reading →

Posted in Economy, Galaxy Entertainment, Las Vegas Sands, Macau, Melco Resorts & Entertainment, MGM Resorts International, Movies, Regulation, Sheldon Adelson, Singapore, Sociedade de Jogos de Macau, Tourism, Wynn Resorts | Comments Off

MGM, Cordish clean up in Maryland; Pennsylvania a cash cow

Posted on December 7, 2018 by David McKee

It was another good month at MGM National Harbor, which grossed almost $2 million per day in November, an above-average take for the pleasure palace. Slots were up 15% (to $31 million) while table games leapt 46%, grossing $26 million. … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Cordish Co., DFS, Economy, Eldorado Resorts, GLPI, Golden Gaming, Illinois, Internet gambling, Japan, Macau, Maryland, MGM Resorts International, New Jersey, Penn National, Pennsylvania, Rush Street Gaming, Sports betting, Taxes, Tourism, Transportation, Wall Street, West Virginia | Comments Off

Resorts World LV delayed (again); Lady Gaga reigns supreme

Posted on December 6, 2018 by David McKee

Resorts World Las Vegas has reached the 39th of a projected 60 floors. However, Genting Group is cautiously hedging its bet, telling Credit Suisse analyst Cameron McKnight the resort will be finished “by 2020,” not late 2019, as stated previously. Somehow … Continue reading →

Posted in CityCenter, Derek Stevens, Downtown, Dubai, Economy, Entertainment, Genting, Macau, MGM Resorts International, Wall Street | 2 Comments

Casino comes to Arkansas; Luxury comes at a cost

Posted on December 5, 2018 by David McKee

That was quick. Downstream Development Authority, a branch of the Quapaw Tribe, has been tapped by local officials to develop a casino in Pine Bluff, Arkansas. If you think the decision precipitate, don’t worry: The Quapaw have been doing outreach … Continue reading →

Posted in Arkansas, Caesars Entertainment, Connecticut, Economy, Illinois, Internet gambling, Macau, Marketing, MGM Resorts International, New York, Politics, Sports betting, Technology, Tribal, West Virginia | Comments Off

Station loses again; Starwood data raided

Posted on November 30, 2018 by David McKee

Station Casinos continues to be at cross-purposes with the National Labor Relations Board. Its latest misstep was stonewalling the Culinary Union with regard to labor talks at Green Valley Ranch. NLRB Chairman John Ring ruled, “By failing and refusing since … Continue reading →

Posted in Arizona, Culinary Union, Donald Trump, Economy, Macau, Station Casinos, Taxes, Technology, Transportation, Tribal, Wall Street, Wisconsin | 1 Comment

Las Vegas approaches record height; José Andres hailed

Posted on November 29, 2018 by David McKee

Despite stagnant revenues on the Las Vegas Strip, the state of Nevada is enjoying its best year for gaming revenue in a decade. This is translating to leading economic indicators such as home prices (up 5%) and consumer confidence (6% … Continue reading →

Posted in Arizona, Baseball, Charity, Dining, Economy, International, Massachusetts, MGM Resorts International, Nevada, Sports, Sports betting, The Strip, Wynn Resorts | Comments Off

Uncle Sam wants your sports bet; Strip outperforms Nevada

Posted on November 27, 2018 by David McKee

Credit Suisse analyst Cameron McKnight had an ominous take on sports betting, as regards federal intervention and “integrity fees.” “Federal action on sports betting sounds more likely, though our contacts disagree on scope,” he warned, adding, “On integrity fees, we … Continue reading →

Posted in Boulder Strip, DFS, Downtown, Economy, Illinois, Lake Tahoe, Laughlin, Mandalay Bay Massacre, Massachusetts, Mississippi, Nevada, New Jersey, New York, North Las Vegas, Sports betting, The Strip, Transportation, Wall Street | Comments Off

Quote of the Day

Posted on November 20, 2018 by David McKee

“China leads the world in homeowners, internet users, college graduates and, by some counts, billionaires. Extreme poverty has fallen from three-quarters of the population in 1984 to less than 1 percent today. China has risen so quickly that an 18-year-old’s … Continue reading →

Posted in Current, Economy, International | 1 Comment

Caesars hailed; Macao’s future questioned

Posted on November 15, 2018 by David McKee

Credit Suisse analyst Cameron McKnight hosted three (!) days of investor meetings with Caesars Entertainment and came away giving the company a rave review. “Management’s tone was very good, and long-only interest was high … We think CZR’s business is … Continue reading →

Posted in Arkansas, Caesars Entertainment, Economy, Horseracing, Japan, Kentucky, Macau, Mandalay Bay Massacre, New Hampshire, Politics, Racinos, Regulation, Sheldon Adelson, Sociedade de Jogos de Macau, Sports betting, The Strip, Tourism, Transportation, Wall Street | Comments Off

Stasis in Missouri; Steve Wynn’s got a secret

Posted on November 13, 2018 by David McKee

Missouri casinos grossed $138 million last month, essentially flat with 2017. The big winner was Eldorado Resorts, up 19% at Lumiere Place (shown, $13 million) but 9% lower at Isle of Capri Kansas City ($5 million). Boyd Gaming had an inauspicious … Continue reading →

Posted in Affinity Gaming, Ameristar, Boyd Gaming, Economy, Eldorado Resorts, Galaxy Entertainment, International, Iowa, Isle of Capri, Las Vegas Sands, Macau, Massachusetts, Melco Crown Entertainment, MGM Resorts International, Missouri, Penn National, Regulation, Sociedade de Jogos de Macau, Steve Wynn, Wynn Resorts | 1 Comment

Steve Wynn makes out like a bandit; Smoke ’em while you’ve got ’em

Posted on November 9, 2018 by David McKee

Steve Wynn‘s liquidation of his stake in Wynn Resorts may have seemed like an act of petulance but — in light of subsequent movement in the stock market — it appears highly astute. Since El Steve’s big sale WYNN has … Continue reading →

Posted in Colorado, Dan Lee, Economy, Elaine Wynn, Entertainment, Full House Resorts, Georgia, Japan, Law enforcement, Macau, Marijuana, MGM Resorts International, Steve Wynn, The Strip, Tourism, Transportation, Wall Street, Wynn Resorts | 2 Comments

Wynn lagoon scrapped, company struggles with life after Steve

Posted on November 8, 2018 by David McKee

King Kong is out, Tom Fazio is in. To no one’s great surprise, Wynn Resorts has drained the swamp, er, canceled the Paradise Park lagoon, a colossal (38 acre) waste of water and act of insensitivity to Nevada‘s drought that … Continue reading →

Posted in Architecture, Economy, Entertainment, Genting, Macau, Marketing, Palms, Station Casinos, Steve Wynn, The Strip, Wall Street, Wynn Resorts | 1 Comment