Category Archives: Economy

A tale of four states

Posted on July 10, 2018 by David McKee

Illinois‘ casino industry has never recovered from the Great Recession. We’ll never know if it would have done so but the inception of slot routes has basically nipped any recovery in the bud. As such, the Land of Lincoln will … Continue reading →

Posted in Affinity Gaming, Ameristar, Boyd Gaming, Caesars Entertainment, Centaur Gaming, Dan Gilbert, Economy, Eldorado Resorts, Full House Resorts, GLPI, Illinois, Indiana, Majestic Star, MGM Mirage, Ohio, Penn National, Pinnacle Entertainment, Racinos, Rush Street Gaming, Slot routes, Tribal, Tropicana Entertainment, Wall Street | Comments Off on A tale of four states

Penn outperforms in Massachusetts; Horse sense in Indiana

Posted on June 28, 2018 by David McKee

Penn National Gaming had a happy surprise for the Massachusetts Gaming Commission when the latter dropped by Plainridge Park for a look-see. The racino, which the Boston Globe long tried to paint as a failure, has just come off its … Continue reading →

Posted in Boyd Gaming, Centaur Gaming, Downtown, Economy, Eldorado Resorts, Entertainment, Harrah's, Horseracing, Indiana, International, Japan, Law enforcement, Louisiana, Marijuana, Marketing, Massachusetts, Mississippi, Penn National, Pennsylvania, Pinnacle Entertainment, Planet Hollywood, Regulation, Singapore, Taxes, The Strip, Tourism, Wall Street | Comments Off on Penn outperforms in Massachusetts; Horse sense in Indiana

High Sierra; This and that

Posted on June 25, 2018 by David McKee

If you want to get away from it all and gamble at the same time, head north — way north — to tiny and isolated Jarbidge, Nevada. That is the home of the Silver State’s newest casino license, that of … Continue reading →

Posted in Economy, history, Horseracing, International, Macau, Nevada, New York, Racinos, Slot routes, Sports, Taxes | Comments Off on High Sierra; This and that

Overexposed in Macao; Hard Rock firing on all cylinders

Posted on June 19, 2018 by David McKee

If you’re a Wynn Resorts shareholder and you’re following rising trade tensions with China, you’ve a right to be nervous. Wynn derives 69% of its revenue from Macao, giving a certain truth to Steve Wynn‘s old quote that “We’re really … Continue reading →

Posted in Architecture, Atlantic City, Dining, Donald Trump, Economy, Florida, Hard Rock International, Harrah's, Japan, Lawrence Ho, Macau, MGM Mirage, Politics, Regulation, Seminole Tribe, Sheldon Adelson, Sociedade de Jogos de Macau, Steve Wynn, The Strip, Wynn Resorts | Comments Off on Overexposed in Macao; Hard Rock firing on all cylinders

Canary in the coal mine

Posted on June 15, 2018 by David McKee

Is Las Vegas headed for another 2008-style bubble? That was my thought after seeing this headline. Fitch Ratings posits that homes in the Vegas area are overvalued by 20% to 24%. That would make them the most overpriced domiciles in … Continue reading →

Posted in Animals, Economy, history, Nevada, Wall Street | Comments Off on Canary in the coal mine

Mohegans sue for Wynn casino

Posted on June 4, 2018 by David McKee

Steve Wynn‘s failure to disclose a $7.5 million paternity settlement may have been the best thing that happened to Mohegan Sun‘s hopes in Massachusetts. The tribal megaresort is suing the Massachusetts Gaming Commission for failing to conduct ‘extreme vetting’ of … Continue reading →

Posted in Dan Gilbert, Delaware, Economy, Massachusetts, Mohegan Sun, Ohio, Pennsylvania, Regulation, Rhode Island, Sexual misconduct, Sports, Steve Wynn, Taxes, Wynn Resorts | Comments Off on Mohegans sue for Wynn casino

Macao disappoints Wall Street; Tribal troubles

Posted on June 1, 2018 by David McKee

Wall Street was expecting 18.5% gaming-revenue growth out of Macao last month. It got ‘only’ 12%, the Street not having taken an abbreviated Golden Week into account. Furthermore, the enclave had a hard act to follow, its revenue having vaulted … Continue reading →

Posted in California, Dining, Economy, Foxwoods, Galaxy Entertainment, Genting, Iowa, Japan, Macau, MGM Mirage, Mohegan Sun, Nebraska, New York, Penn National, Pennsylvania, Politics, Regulation, Sheldon Adelson, Tourism, Tribal, Wall Street | 3 Comments

Quote of the Day

Posted on May 31, 2018 by David McKee

“What we are seeing with the gaming industry in Ohio is a microcosm of how our economy looks when it is working as it’s designed to function. Private investment creates employment opportunities for local workers, including those with disabilities, which … Continue reading →

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

MGM optimistic on Japan; Culinary blasts casino owners

Posted on May 30, 2018 by David McKee

Japan is one big step closer to casino legalization now that its House of Representatives passed a bill putting problem-gambling countermeasures into place. This was a necessary step before the actual casino-implementation law could go before the Diet. “The pace of … Continue reading →

Posted in Boyd Gaming, Culinary Union, Economy, Golden Gaming, Harrah's, Japan, Macau, MGM Mirage, Penn National, Politics, Problem gambling, Regulation, Sexual misconduct, Singapore, Taxes, Tourism, Transportation, Unite-Here, Wynn Resorts | Comments Off on MGM optimistic on Japan; Culinary blasts casino owners

MGM: They’ll take Yonkers; Vegas gets flunked

Posted on May 29, 2018 by David McKee

MGM Resorts International‘s pursuit of a casino in Bridgeport has been revealed as the sham that it is. How? Because MGM and MGM Growth Properties just plunked down $850 million for Empire City Casino in Yonkers, putting them squarely in the much-coveted … Continue reading →

Posted in Economy, Genting, LVCVA, MGM Mirage, New York, The Strip, Wall Street | 1 Comment

Strike!; Memo to Congress

Posted on May 23, 2018 by David McKee

If any casino owners were thinking that the Culinary Union might get complacent or fragment in the face of a good Las Vegas economy, they got a rude wakeup call yesterday. Some 99% of Culinary members voted to authorize a … Continue reading →

Posted in Culinary Union, Current, Downtown, Economy, Geoff Freeman, Harrah's, history, MGM Mirage, Regulation, Sports, Taxes, Technology, The Strip | Comments Off on Strike!; Memo to Congress

Smashing concept at Palms; Strike vote today

Posted on May 22, 2018 by David McKee

Station Casinos is firing up the marketing machine for the rollout of its $620 million re-do of the Palms. The new ad campaign is branded “From Dust to Gold” and is heavy on the smashing of glitzy objects. Whether gleeful … Continue reading →

Posted in Culinary Union, Current, Economy, George Maloof, history, Internet gambling, LVCVA, Marketing, Mississippi, Sports, Station Casinos, The Strip | Comments Off on Smashing concept at Palms; Strike vote today

Quote of the Day

Posted on May 15, 2018 by David McKee

“Folks are either spending a little more time or a little more money while they’re on the property. There’s good demand for the nearly 400 new slot machines we’ve put in over the last few months. We’re always working with vendors and … Continue reading →

Posted in Ameristar, Economy, Indiana, Pinnacle Entertainment, Regulation, Technology | Comments Off on Quote of the Day

Hard Rock and Ocean Resort: Two much?

Posted on May 11, 2018 by David McKee

“If Ocean Resort opens up and has the same difficulty as Revel did last time, do they get desperate and start throwing marketing money at the wall, and make everyone else have to do it, and margins go down, and … Continue reading →

Posted in Atlantic City, Bruce Deifik, Economy, Entertainment, Glenn Straub, Hard Rock International, Harrah's, history, Resort fees, Rhode Island | 2 Comments

Ohio good, Maryland better; The mystery of Carrot Top

Posted on May 8, 2018 by David McKee

Last month found the State of Maryland in good health when it came to gaming revenue, up 6%. Most of this was driven — one is tempted to say “of course” — by MGM National Harbor, vaulting 15.5% for an … Continue reading →

Posted in Churchill Downs, Cordish Co., Dan Gilbert, Economy, Eldorado Resorts, Entertainment, Environment, GLPI, Hard Rock International, Harrah's, Macau, Maryland, Massachusetts, MGM Mirage, Ohio, Penn National, Pinnacle Entertainment, Racinos, Sheldon Adelson, Sociedade de Jogos de Macau, Taxes, The Strip, Transportation, West Virginia | Comments Off on Ohio good, Maryland better; The mystery of Carrot Top

Las Vegas numbers perplex; Macao shatters expectations

Posted on May 4, 2018 by David McKee

While Las Vegas, as mentioned earlier, is slogging through a 10-month visitation slump, you wouldn’t know it from March’s gaming-revenue numbers, which were 9% higher on the Las Vegas Strip ($574 million), although locals casinos took a 5% hit. Deutsche … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, California, Colorado, Delaware, Downtown, Economy, Eldorado Resorts, Entertainment, Florida, Galaxy Entertainment, Harrah's, Illinois, Lake Tahoe, Laughlin, Macau, Melco Resorts & Entertainment, Mesquite, MGM Mirage, Mississippi, Nevada, New York, North Las Vegas, Ohio, Penn National, Reno, Rhode Island, Sheldon Adelson, Sociedade de Jogos de Macau, The Strip, Wall Street, West Virginia, Wisconsin, Wynn Resorts | 1 Comment

Boyd can’t beat ’em, joins ’em; Station gets rave reviews

Posted on May 2, 2018 by David McKee

After having taken a beating in Illinois from slot routes, Boyd Gaming is pivoting and getting into the route game itself. It is acquiring Lattner Entertainment, giving it 1,000 slots in 220 locations in the Land of Lincoln. Since there’s … Continue reading →

Posted in Boyd Gaming, Economy, IGT, Illinois, Penn National, Slot routes, Station Casinos, Wall Street | Comments Off on Boyd can’t beat ’em, joins ’em; Station gets rave reviews

Quote of the Day

Posted on April 23, 2018 by David McKee

“In 2017 [Grand Victoria] posted revenue of $168.7 million, up from $163.5 million in 2016, according to the Illinois Gaming Board. Its revenue has steadily declined since 2007 after a peak of $436.7 million, and employees have decreased from 2,500 to … Continue reading →

Posted in Economy, Eldorado Resorts, Illinois, MGM Mirage | Comments Off on Quote of the Day

Study zings MGM; Galaxy resort vetoed

Posted on April 11, 2018 by David McKee

Allowing a fourth casino into Connecticut — and thereby abrogating its gaming compacts — could be extremely costly for the Nutmeg State. That’s the conclusion of a new study by casino pundit Clyde Barrow. He writes that the new casino … Continue reading →

Posted in Affinity Gaming, Ameristar, Boyd Gaming, Centaur Gaming, Economy, Environment, Foxwoods, Full House Resorts, Galaxy Entertainment, Harrah's, Majestic Star, Maryland, Massachusetts, MGM Mirage, Mohegan Sun, New York, Penn National, Philippines, Pinnacle Entertainment, Politics, Taxes, Tribal, Tropicana Entertainment | Comments Off on Study zings MGM; Galaxy resort vetoed

Shocker: Hard Rock Rocksino sold; New top man at SLS

Posted on April 5, 2018 by David McKee

Despite being the dominant racino operator — hell, gaming operator — in Ohio, it seems that Hard Rock International is throwing in the towel. It’s selling Hard Rock Rocksino to MGM Growth Properties. Early Wall Street speculation is that we’re … Continue reading →

Posted in ACEP, Affinity Gaming, Alex Meruelo, Boyd Gaming, Colorado, Economy, Eldorado Resorts, Florida, GLPI, Golden Gaming, Hard Rock International, Harrah's, Illinois, Isle of Capri, MGM Mirage, Neil Bluhm, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Reno, SLS Las Vegas, The Strip, Wall Street | 3 Comments