Category Archives: Economy

Bullish Boyd; Inside Station’s crystal ball

Posted on November 13, 2017 by David McKee

Deutsche Bank analyst Carlo Santarelli met with Boyd Gaming‘s brain trust and liked what he heard, but I’ll let him tell it in his own words: “Within Las Vegas, management is encouraged by unrated play, particularly in the Downtown segment, … Continue reading →

Posted in Boyd Gaming, Downtown, Economy, Florida, IGT, Internet gambling, Marketing, Palms, Reno, Seminole Tribe, Sports, Station Casinos, Taxes, Technology, Tribal, Wall Street | Comments Off on Bullish Boyd; Inside Station’s crystal ball

Quote of the Day

Posted on November 9, 2017 by David McKee

“The Tribe is not like a corporation in that it can pick up and move to another county, another state. The Tribe is very anchored here, and it’s a very important part of their values to give back to the community … Continue reading →

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

Quote of the Day

Posted on November 8, 2017 by David McKee

“When our state passed legislation to expand gaming, our decision was based on projections of robust revenues, and promises that casino development would not place new burdens on taxpayers. The last few months, however, have called into question those projections and … Continue reading →

Posted in Economy, New York, Politics | Comments Off on Quote of the Day

Reno’s bright future; All-time high for Vegas sports books

Posted on November 3, 2017 by David McKee

We love Reno. It has a river in the middle of downtown, nearby mountains and all the charm that Las Vegas so desperately lacks. It also had a gambling market that was written off for dead 15 years ago. Times … Continue reading →

Posted in Economy, Eldorado Resorts, International, Nevada, Oklahoma, Paragon Gaming, Pennsylvania, Politics, Reno, Sports, Station Casinos, Taxes, Tribal, Wall Street | 1 Comment

Pretlow tackles NY casinos; Zinke paralyzes Connecticut casino

Posted on November 2, 2017 by David McKee

Fearing a plea for tax breaks from New York State‘s three new, underperforming casinos, Assemblyman Gary Pretlow (D) has asked the state auditor to look into why they failed to meet their revenue projections. “It is critically important that we have … Continue reading →

Posted in Economy, Foxwoods, MGM Mirage, Mohegan Sun, New York, Politics, Regulation, Tribal | Comments Off on Pretlow tackles NY casinos; Zinke paralyzes Connecticut casino

Strip waxes, LV locals wane; Caesars sticks it to you

Posted on October 31, 2017 by David McKee

Gaming revenues inched up 3% in Nevada last August, while the Las Vegas Strip was up 5%, to $568 million. JP Morgan analyst Joseph Greff wrote that the latter implied “strong 3Q for MGM table games given WYNN and LVS’ combined 3Q … Continue reading →

Posted in Boulder Strip, Downtown, Economy, Entertainment, Genting, Greenwood Racing, Harrah's, International, Internet gambling, Lake Tahoe, Laughlin, Mesquite, MGM Mirage, Nevada, North Las Vegas, Pennsylvania, Regulation, Reno, Sheldon Adelson, Steve Wynn, The Strip, Wall Street | Comments Off on Strip waxes, LV locals wane; Caesars sticks it to you

Tally-ho, friends!; NY State casinos cry uncle

Posted on October 30, 2017 by David McKee

As Sigma Derby games at MGM Grand and The D continue to eke out a perilous existence, getting by on spare parts cannibalized from other machines, they have a new rival. Konami Gaming has taken note of the enduring popularity … Continue reading →

Posted in Baseball, Derek Stevens, Dining, Economy, Genting, IGT, International, Jeff Guard, Macau, MGM Mirage, New York, Sports, Taxes, Technology, Tourism, TV | 1 Comment

Smooth talk in Bridgeport; Sands Bethlehem for sale (again)?

Posted on October 25, 2017 by David McKee

“Sharp dressed, smooth talker” Uri Clinton met with Bridgeport residents in an effort to convince them that MGM Resorts International has their best interests at heart in its pursuit of Bridgeport as a casino site. Perhaps naively, Clinton hopes that … Continue reading →

Posted in Atlantic City, Downtown Grand, Economy, Foxwoods, Geoff Freeman, Glenn Straub, Internet gambling, MGM Mirage, Mohegan Sun, New York, Pennsylvania, Problem gambling, Regulation, Revel, Sheldon Adelson, Taxes, Tribal, Wall Street | Comments Off on Smooth talk in Bridgeport; Sands Bethlehem for sale (again)?

The future of Caesars; Larry Ellison buys Cal-Neva

Posted on October 25, 2017 by David McKee

Executives from Caesars Entertainment flew to New York to meet with Wall Street analysts and lay out their vision of the company’s post-bankruptcy future. According to Deutsche Bank‘s Carlo Santarelli, internal research “displays a healthy Millenial participation rate, a long … Continue reading →

Posted in Aristocrat, Boyd Gaming, Economy, Entertainment, Golden Gaming, Harrah's, history, Lake Tahoe, Mandalay Bay Massacre, Marketing, MGM Mirage, Regulation, Scientific Games, Station Casinos, Technology, The Strip, Wall Street | 1 Comment

Less-than-Golden Week in Macao; Pac-Man devours G2E competition

Posted on October 16, 2017 by David McKee

“Somewhat disappointing” was JP Morgan analyst Joseph Greff‘s verdict on Golden Week numbers out of Macao. “Given that some VIPs visit Macau after the holiday to avoid the crowds, we note that channel checks post Golden Week indicate that gaming … Continue reading →

Posted in Charity, Economy, G2E, GameCO, Macau, Melco Resorts & Entertainment, MGM Mirage, Sheldon Adelson, Sociedade de Jogos de Macau, Steve Wynn, Technology, Tourism, Wall Street | Comments Off on Less-than-Golden Week in Macao; Pac-Man devours G2E competition

Clean slate at Caesars; Heresy at G2E; Another Revel mystery

Posted on October 9, 2017 by David McKee

“Twenty-five years ago Caesars [Entertainment] was the premier name internationally but they dropped the ball,” said C.G. Anderson Partners analyst Greg Bousquette of the company that must find a way to become relevant after spending years snarled in debt, then in … Continue reading →

Posted in Atlantic City, Colorado, Economy, Entertainment, G2E, Glenn Straub, Harrah's, Iowa, Japan, Macau, Mandalay Bay Massacre, Neil Bluhm, New York, Pennsylvania, Regulation, Revel, Singapore, South Korea, Technology, The Strip, Wall Street | Comments Off on Clean slate at Caesars; Heresy at G2E; Another Revel mystery

Cuomo’s overreach; Penn punts on Trop upgrade

Posted on October 5, 2017 by David McKee

Genting needs to get worried, very worried about over budgeted Resorts World Catskills. New casinos promoted in upstate New York by Gov. Andrew Cuomo (D) are grossly underperforming. The three already in operation need an incredible 4Q17 to make good on … Continue reading →

Posted in Boyd Gaming, California, Dining, Economy, Genting, Mandalay Bay Massacre, Neil Bluhm, New York, Penn National, Racinos, Taxes, The Strip, Tourism, Tribal, Wall Street | Comments Off on Cuomo’s overreach; Penn punts on Trop upgrade

“It feels like business as usual”

Posted on October 3, 2017 by David McKee

As we mentioned earlier, Deutsche Bank analyst Carlo Santarelli is in Las Vegas this week. He just released an investor note detailing the atmosphere following the tragic events of October 1. I don’t have much to add, so I will … Continue reading →

Posted in Economy, Law enforcement, Mandalay Bay Massacre, The Strip, Tourism | Comments Off on “It feels like business as usual”

Quote of the Day

Posted on October 3, 2017 by David McKee

“There were probably some elements of the Chinese government that thought Macao was growing too quickly. Maybe people like [Sheldon] Adelson and the like were getting rich too quickly.”  — Richard McGregor, author of The Party: The Secret World of China’s … Continue reading →

Posted in Economy, Macau, Regulation, Sheldon Adelson | Comments Off on Quote of the Day

Hot numbers in August; MGM Cotai postponed

Posted on October 2, 2017 by David McKee

Although visitation to Las Vegas was down 2% in August, room revenues and rates were both up 3% (with a hotel room costing you $125/night on average) and occupancy at 91%. JP Morgan analyst Joseph Greff credited the Floyd Mayweather-Conor McPherson … Continue reading →

Posted in Atlantic City, Boulder Strip, Colony Capital, Cosmopolitan, Downtown, Economy, Fontainebleau, Foxwoods, Hard Rock Hotel, International, Lake Tahoe, Laughlin, Macau, MGM Mirage, Mohegan Sun, North Las Vegas, Politics, Problem gambling, Regulation, Reno | Comments Off on Hot numbers in August; MGM Cotai postponed

G2E: The show must go on; Real hope for Moulin Rouge site

Posted on October 2, 2017 by David McKee

A giant, unstoppable machine, Global Gaming Expo is opening as planned today, despite last night’s bloodbath at Mandalay Bay. G2E officials said they were “closely monitoring the horrific events” of last night, which I hope translates into a higher security … Continue reading →

Posted in Current, Economy, G2E, Geoff Freeman, Macau, Mandalay Bay Massacre, Moulin Rouge, Taxes | Comments Off on G2E: The show must go on; Real hope for Moulin Rouge site

Firebugs in Macao; New slots at Harrah’s

Posted on September 27, 2017 by David McKee

Already slowed by construction fatalities, jinx-prone Grand Lisboa Palace has now been ravaged by fire. The best that CEO Angela Leong could say about the casino’s late-2018 opening date was that it was now uncertain. Sociedade de Jogos de Macau … Continue reading →

Posted in Arizona, Atlantic City, California, Economy, GameCO, Harrah's, Macau, Massachusetts, MGM Mirage, Nevada, Sociedade de Jogos de Macau, Technology, Tribal | Comments Off on Firebugs in Macao; New slots at Harrah’s

Trump to bigfoot Connecticut controversy?

Posted on September 26, 2017 by David McKee

Could we see heavy-footed federal intervention in the MGM Resorts International vs. Connecticut tribes slugfest? Bridgeport Mayor Joe Ganim (D) hopes so. A supporter of Donald Trump‘s presidential campaign, he’s hoping the White House will stomp into the Nutmeg State fray, interceding … Continue reading →

Posted in DFS, Donald Trump, Economy, Election, Foxwoods, Galaxy Entertainment, Genting, Geoff Freeman, International, Macau, MGM Mirage, Mohegan Sun, Regulation, Singapore, Sports, The Strip | Comments Off on Trump to bigfoot Connecticut controversy?

Trying again in Kentucky; Trump Taj goes tits up

Posted on September 21, 2017 by David McKee

Casinos and Kentucky politicians have been like oil and water. But there’s nothing like a pension-fund crisis to focus people’s attention and the Bluegrass State faces a $33 million shortfall on its obligations. Hence a proposal for “limited” casino gambling, … Continue reading →

Posted in Atlantic City, Dan Gilbert, Detroit, Dining, Economy, Election, Hard Rock International, Indiana, Kentucky, Marijuana, Nevada, Ohio, Politics, Racinos, Taxes, TV | 1 Comment

MGM Bridgeport … ?!?; Battle lines drawn in Maine

Posted on September 20, 2017 by David McKee

Poor MGM Springfield. It’s not even finished and MGM Resorts International is already off on a snipe hunt in Connecticut. Like Steve Wynn many years ago, it is proposing a casino for Bridgeport. MGM says it is prepared to invest … Continue reading →

Posted in e-sports, Economy, Election, Foxwoods, history, Maine, Marketing, Maryland, Massachusetts, MGM Mirage, Mohegan Sun, Nevada, Politics, Regulation, TV | Comments Off on MGM Bridgeport … ?!?; Battle lines drawn in Maine