Category Archives: Economy

Caesars hailed; Wynn Resorts for sale?

Posted on September 11, 2018 by David McKee

Credit Suisse has initiated coverage of Caesars Entertainment, citing it as its “Top Pick” in the gaming sector. Why? “It recently re-emerged from bankruptcy and is one of the largest US gaming operators, with eight Las Vegas Strip and 22 … Continue reading →

Posted in Atlantic City, Caesars Entertainment, Centaur Gaming, Dan Gilbert, Economy, Elaine Wynn, Hawaii, Indiana, Louisiana, Macau, Marketing, MGM Resorts International, Mississippi, Nevada, Steve Wynn, The Strip, Wall Street, Wynn Resorts | Comments Off on Caesars hailed; Wynn Resorts for sale?

Resort fees rethought; Yokohama rejects casinos

Posted on September 6, 2018 by David McKee

Congratulations, Scott Roeben. Analyst Cameron McKnight of Credit Suisse is a Vital Vegas reader and cites it in his latest investor note. He also mentions a publication with which I’m not familiar, LV Locally, when writing “that several Las Vegas … Continue reading →

Posted in Boyd Gaming, Economy, Election, Indiana, Japan, Marketing, Massachusetts, MGM Resorts International, Nevada, Politics, Resort fees, Sexual misconduct, The Strip, Transportation, Tribal, Wynn Resorts | 1 Comment

Dispatches from the front lines

Posted on September 5, 2018 by David McKee

Already MGM Springfield is spurring external economic stimulus in Springfield. A new (and rather fugly) Hilton has been proposed for an adjacent site, costing $15 million and boasting 100 hotel rooms once finished. For the city, the cancellation of MGM’s planned hotel … Continue reading →

Posted in Economy, Entertainment, Environment, history, Massachusetts, MGM Resorts International, Minnesota, Penn National, Rhode Island, The Strip, Tribal | Comments Off on Dispatches from the front lines

State of D-nile; Red-tag sale at Caesars

Posted on September 5, 2018 by David McKee

Xstal Campbell, a former dancing barmaid at The D, will be testifying before the Nevada Gaming Control Board today, along with other, unidentified casino workers. The subject will be sexual harassment. Ms. Campbell, who also will try her case before … Continue reading →

Posted in AGA, Caesars Entertainment, Culinary Union, Derek Stevens, Downtown, Economy, Marketing, Regulation, Sexual misconduct, Sports, Sports betting, The Strip, Wall Street | Comments Off on State of D-nile; Red-tag sale at Caesars

A lonely July; Schumer would put leagues in charge

Posted on August 31, 2018 by David McKee

A clearer picture of the Las Vegas Strip in July is emerging, as visitation was 3.5% lower, dragging room revenue down 7.5% with it. Yes, the house got beaten badly at baccarat, but other factors were at work in the … Continue reading →

Posted in Atlantic City, Economy, Foxwoods, Internet gambling, Massachusetts, MGM Resorts International, Mohegan Sun, Oklahoma, Penn National, Politics, Sports, Sports betting, The Strip, Tilman Fertitta, Tribal | Comments Off on A lonely July; Schumer would put leagues in charge

Disappointment on the Strip; Playing politics with sports betting

Posted on August 30, 2018 by David McKee

Ten years. That’s how long it’s been since a brand-new resort has opened on the Las Vegas Strip. Looking to break that dry spell, Genting Group has recommitted itself to a 4Q20 opening of Resorts World Las Vegas. Commenting on … Continue reading →

Posted in Dining, Economy, Genting, Politics, Regulation, Sports betting, The Strip, Wall Street | Comments Off on Disappointment on the Strip; Playing politics with sports betting

Hatch slammed by AGA; Drinking the Kool-Aid

Posted on August 27, 2018 by David McKee

Orrin Hatch (R) is on his way out of the U.S. Senate but not without being a buttinski along the way. His last legislative initiative, it appears, will be to push for federal regulation of sports betting. His concern is … Continue reading →

Posted in AGA, Atlantic City, Bruce Deifik, Economy, MGM Resorts International, Nevada, Politics, Sports betting | 1 Comment

John S. McCain, 1936-2018

Posted on August 27, 2018 by David McKee

America lost one of its great statesmen this week, one of the few I would call a personal hero, and gaming lost a great friend. Not only was Sen. John McCain (R) an avid craps player and boxing patron (the … Continue reading →

Posted in Arizona, Economy, history, Politics, Sports, Tribal | Comments Off on John S. McCain, 1936-2018

Good news, big and small

Posted on August 23, 2018 by David McKee

Last year, commercial casino revenues topped $40 billion for the first time ever, maxing out at $40.3 billion. States with casinos will be happy campers, as that windfall meant $9.2 billion in gambling taxes. The revenue surge was 3.5% according … Continue reading →

Posted in Economy, Internet gambling, Macau, Maryland, New York, Problem gambling, Tribal, Washington State, West Virginia, Wynn Resorts | Comments Off on Good news, big and small

Playing the Trump card; Manilow renewed

Posted on August 22, 2018 by David McKee

In his latest newsletter, gaming-law expert I. Nelson Rose looks at the impact, real and potential, of retaliatory tariffs on playing cards. Canada and the European Union have imposed 10% import levies on playing cards from the United States, though … Continue reading →

Posted in Donald Trump, Economy, Entertainment, Greenwood Racing, International, Kentucky, Las Vegas Sands, Lucky Dragon, Macau, New Jersey, Ohio, Paragon Gaming, Pennsylvania, Politics, Sports betting, The Crown 18, The Strip, Westgate LV | Comments Off on Playing the Trump card; Manilow renewed

“A quarter to forget”

Posted on August 21, 2018 by David McKee

That’s what JP Morgan analyst Joseph Greff had to say about 2Q18, adding, “The 2Q18 earnings reporting period in late July/early August was one of the worst in recent memory for U.S. Gaming as stocks with strong earnings/outlooks saw modest … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Economy, Eldorado Resorts, Environment, MGM Resorts International, Mississippi, Nevada, Penn National, Sports, Sports betting, Station Casinos, Tribal, Wall Street, West Virginia, Wisconsin | Comments Off on “A quarter to forget”

Infamy on the Strip; Baton Rouge obliterated

Posted on August 20, 2018 by David McKee

“Mandalay Bay” is becoming a two-word synonym for infamy. Hotels’ Daily News Service recently bannered a set of dispatches with “What Security Looks Like in post-Mandalay Bay world.” (Subscription required.) As for what Las Vegas looks like in same, well, Lego … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Churchill Downs, Economy, Eldorado Resorts, GLPI, Isle of Capri, Las Vegas Sands, Louisiana, Mandalay Bay Massacre, MGM Resorts International, Penn National, Pinnacle Entertainment, Resort fees, Tilman Fertitta, Tourism, Wall Street, Wynn Resorts | Comments Off on Infamy on the Strip; Baton Rouge obliterated

A bright shining turkey

Posted on August 15, 2018 by David McKee

“We didn’t plan to open until March. So this is, literally, found money. We didn’t even budget for it. Wait and see what happens when we get this engine fully running.” That was the excuse made by a Resorts World … Continue reading →

Posted in Downtown, Economy, Entertainment, Genting, New York, Penn National, Sports betting, Technology, The Strip, Wall Street, West Virginia | Comments Off on A bright shining turkey

Wild card; Parx gets one-finger salute

Posted on August 13, 2018 by David McKee

Move over sports books, here comes … Buffalo Wild Wings?!? Yes, the restaurant business known for its trivia games and spicy food wants to get into the sports-betting business. “As the largest sports bar in America, we believe Buffalo Wild Wings … Continue reading →

Posted in Atlantic City, Bruce Deifik, DFS, Dining, Economy, Galaxy Entertainment, Greenwood Racing, Hard Rock International, International, Japan, Macau, MGM Mirage, Nevada, Pennsylvania, Société des Bains de Mer, South Korea, Sports betting, Technology, Tourism, West Virginia | Comments Off on Wild card; Parx gets one-finger salute

Illinois takes a dive; Okada gets nabbed

Posted on August 7, 2018 by David McKee

Illinois casinos had been bumping along nicely in the Trump economy until they hit a plain old speed bump last month, with revenues down almost 4%, on a gross of $119 million, $39 million of which was generated by Rivers … Continue reading →

Posted in Atlantic City, Australia, Boyd Gaming, Caesars Entertainment, Crown Resorts, Economy, GLPI, Illinois, Kazuo Okada, Law enforcement, Massachusetts, MGM Resorts International, Penn National, Regulation, Rush Street Gaming, Scientific Games, Slot routes, Sports betting, Technology, Wall Street, Wendover, Wynn Resorts | Comments Off on Illinois takes a dive; Okada gets nabbed

More woes for Wynn; Unlucky 13 in Macao

Posted on August 3, 2018 by David McKee

Update: All charges in this case were dismissed, as the alleged rape was found to be a fabrication. Wynn Las Vegas‘ status as the poster child for sexual assault on the Las Vegas Strip just got another boost. SoCal dentist Poria … Continue reading →

Posted in Architecture, Caesars Entertainment, Dining, Economy, Election, Georgia, Iowa, Law enforcement, Macau, Marketing, Massachusetts, Politics, Sexual misconduct, Sociedade de Jogos de Macau, Taxes, The Strip, Wall Street, Wynn Resorts | Comments Off on More woes for Wynn; Unlucky 13 in Macao

Caesars excels, MGM disappoints; So long, Paradise Park

Posted on August 2, 2018 by David McKee

You know how I thought May’s visitation numbers representing Las Vegas finally finding bottom in a visitation decline? Never mind. June was down 1%, mainly driven (pardon the pun) by fewer drive-in visits from California. Fortuitously for the casinos, luck … Continue reading →

Posted in Atlantic City, Caesars Entertainment, California, Detroit, Economy, Las Vegas Sands, Macau, Mandalay Bay Massacre, Maryland, Massachusetts, Melco Crown Entertainment, MGM Resorts International, Sports, Sports betting, The Strip, Tourism, Wendover, Wynn Resorts | Comments Off on Caesars excels, MGM disappoints; So long, Paradise Park

NBA picks MGM; Station impresses Wall Street

Posted on August 1, 2018 by David McKee

In what is a first of its kind, an American sporting league has an “official gaming partner.” The NBA has tapped MGM Resorts International to be the casino face of the league. This would mean, according to Bloomberg, “MGM will … Continue reading →

Posted in Boyd Gaming, Economy, GLPI, Internet gambling, Marketing, MGM Resorts International, Palms, Sports, Sports betting, Station Casinos, Wall Street | Comments Off on NBA picks MGM; Station impresses Wall Street

Quote of the Day

Posted on July 27, 2018 by David McKee

“Before the Taj closed in 2015, we had an eight-casino market that was fairly stable. So with the opening of two new casinos we go to a nine-casino market, and the question is whether we can sustain that. And I … Continue reading →

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

Quote of the Day

Posted on July 25, 2018 by David McKee

“The golf industry isn’t necessarily booming.” — Green Valley Golf Range owner Cindy Scardina, justifying the extension of slot routes to golf courses in Hanover Park, Illinois.

Posted in Economy, Illinois, Slot routes, Sports | Comments Off on Quote of the Day