Category Archives: Economy

Eldorado: Small is beautiful; Fire sale in the Philippines

Posted on September 14, 2017 by David McKee

Eldorado Resorts CEO Tom Reeg just had a sit-down with Joseph Greff and his JP Morgan colleagues, and clued them into Eldorado’s plans. “We came away encouraged by management’s upbeat tone and positive commentary on Reno trends … and long-term plan … Continue reading →

Posted in Colorado, Dining, Economy, Eldorado Resorts, Florida, Harrah's, Indiana, Isle of Capri, Kazuo Okada, Louisiana, Marketing, Melco Resorts & Entertainment, New York, Philippines, Regulation, Reno, Steve Wynn, Taxes, Tribal, Wall Street | Comments Off on Eldorado: Small is beautiful; Fire sale in the Philippines

MGM sells National Harbor; High accolade for Turning Stone

Posted on September 7, 2017 by David McKee

MGM National Harbor continues to grow the Maryland casino market, while taking down its main competitors. (Would we call this a “category killer”?) In the meantime, the small casinos are doing just fine. Last month Penn National Gaming‘s Hollywood Perryville was … Continue reading →

Posted in Economy, Golden Gaming, Harrah's, Illinois, Indiana, Maryland, Massachusetts, MGM Mirage, Neil Bluhm, Penn National, Racinos, Rhode Island, Slot routes, Taxes, Tribal | Comments Off on MGM sells National Harbor; High accolade for Turning Stone

Galaxy dominates Macao; Costner’s casino flops

Posted on September 1, 2017 by David McKee

For a company that entered Macao with zero casino experience, Galaxy Entertainment is taking the veterans to school. In 2Q17, its cash flow grew 45%, to $420 million, a figure not seen since 2012. Galaxy is also leading the pack in terms … Continue reading →

Posted in Economy, Galaxy Entertainment, Iowa, Macau, Melco Resorts & Entertainment, MGM Mirage, Movies, Paragon Gaming, Sahara, Sam Nazarian, Sheldon Adelson, SLS Las Vegas, Sociedade de Jogos de Macau, South Dakota, Steve Wynn, Wall Street | Comments Off on Galaxy dominates Macao; Costner’s casino flops

Strip disappoints, locals casinos dominate; Indiana ignores tribal casino

Posted on August 30, 2017 by David McKee

Poor table play punished the Las Vegas Strip last month, driving revenues down 8%. Locals casinos, by contrast, were up 13%, possibly helped by some end-of-June coin lingering in the slot hoppers. But, if so, what’s the Strip’s excuse for … Continue reading →

Posted in Boulder Strip, Boyd Gaming, Charity, Downtown, Economy, Environment, Harrah's, Indiana, International, Japan, Lake Tahoe, Laughlin, Lawrence Ho, Louisiana, Macau, Majestic Star, Marketing, MGM Mirage, Missouri, Nevada, North Las Vegas, Pansy Ho, Pennsylvania, Regulation, Reno, Sheldon Adelson, Taxes, The Strip, Tribal, West Virginia | Comments Off on Strip disappoints, locals casinos dominate; Indiana ignores tribal casino

Station’s “weakness” a strength; Ohio bucks the odds

Posted on August 9, 2017 by David McKee

Looking back at Station Casinos’ 2Q17 results, Deutsche Bank analyst Carlo Santarelli noted that the picture was clouded by construction activity at Palace Station and the Palms. But, while short-term investors would likely have their patience tested, he wrote, “we think long … Continue reading →

Posted in Ameristar, Boyd Gaming, Dan Gilbert, Dan Lee, Economy, Eldorado Resorts, Full House Resorts, GLPI, Hard Rock International, Harrah's, Indiana, Majestic Star, Ohio, Penn National, Pinnacle Entertainment, Racinos, Station Casinos, Tropicana Entertainment, Wall Street | Comments Off on Station’s “weakness” a strength; Ohio bucks the odds

Quote of the Day

Posted on August 9, 2017 by David McKee

“Merchants and entrepreneurs, thriving under the protection of the ruling party, are encouraging a building boom in Pyongyang, and there are more cars in the capital than ever before.” — the New York Times, on the apparent threat of economic … Continue reading →

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

Legal weed a casino buzzkill; Caesars’ Australian pact nixed

Posted on August 7, 2017 by David McKee

In the casino biz, “pot” is now something other than what you put your poker bets into. It’s a source of money that’s not welcome at Ye Olde Casino (and you thought gambling moguls didn’t care where you got your … Continue reading →

Posted in Arizona, Atlantic City, Australia, Economy, Environment, Florida, Geoff Freeman, Glenn Straub, Hard Rock International, Harrah's, Law enforcement, Regulation, Revel, Seminole Tribe, Tribal | Comments Off on Legal weed a casino buzzkill; Caesars’ Australian pact nixed

Mickey Mouse comes to Sin City; Unrest at MGM

Posted on August 3, 2017 by David McKee

Locals might cringe every time the “What happens in Vegas stays in Vegas” cliché is trotted out — in part because what happens there usually finds its way to YouTube within hours, if not minutes. However, the staying power of … Continue reading →

Posted in Cosmopolitan, Culinary Union, e-sports, Economy, history, LVCVA, Marketing, MGM Mirage, Mississippi, Taxes, The Strip, Transportation | Comments Off on Mickey Mouse comes to Sin City; Unrest at MGM

The allure of Brazil; DraftKings blows a gasket

Posted on July 27, 2017 by David McKee

Jan Jones Blackhurst has really been racking up the frequent-flier miles on behalf of Caesars Entertainment, having made multiple trips to Brazil to assess the potential for casinos down there. She’s narrowed down the possible sites to Brasilia, Sao Paulo, Salvador … Continue reading →

Posted in Australia, Brazil, Economy, GameCO, Harrah's, Internet gambling, Macau, Massachusetts, MGM Mirage, Oklahoma, Sheldon Adelson, Steve Wynn, Technology, The Strip, Tribal | Comments Off on The allure of Brazil; DraftKings blows a gasket

Palace coup; India: No Goa

Posted on July 26, 2017 by David McKee

While Station Casinos still hasn’t made up its mind whether to add a new hotel tower to Palace Station (with 606 rooms spread over 27 stories), it’s filed plans with the City of Las Vegas, just in case it decides … Continue reading →

Posted in Architecture, Atlantic City, Boyd Gaming, Dining, Donald Trump, Economy, history, International, Internet gambling, Palms, Regulation, Station Casinos | 1 Comment

Two decades in Detroit; Juliano out at Sands

Posted on July 19, 2017 by David McKee

Can it really be 20 years since casinos were legalized in Detroit? (It’s been 18 years since MGM Grand Detroit opened.) Time flies and so does casino lucre — straight into city coffers. Then-Gov. John Engler (R) had to dragged kicking … Continue reading →

Posted in Detroit, Economy, history, Internet gambling, Law enforcement, Massachusetts, MGM Mirage, New Hampshire, Pennsylvania, Politics, Sheldon Adelson, Steve Wynn, Taxes, Tropicana Entertainment | Comments Off on Two decades in Detroit; Juliano out at Sands

Cuomo’s missed bet; Next stop, Vietnam

Posted on July 13, 2017 by David McKee

Resorts World Catskills still hasn’t weighed in and yet it’s already looking like New York Gov. Andrew Cuomo‘s bet on upstate casinos has crapped out. After an initial flurry of lookie-lous, the first three casinos are struggling to regain their … Continue reading →

Posted in Economy, Eldorado Resorts, Genting, Internet gambling, Iowa, Japan, Neil Bluhm, New York, Pennsylvania, Politics, Regulation, Slot routes, Vietnam | Comments Off on Cuomo’s missed bet; Next stop, Vietnam

Trump Taj: Everything must go; Vegas looking better than ever

Posted on July 12, 2017 by David McKee

Somehow Trump Taj Mahal just wouldn’t be ‘Trump’ if it didn’t go out with an episode of farce. An Atlantic City resident put the liquid into “liquidation” when he decided to take an impromptu shower in one of the vacant … Continue reading →

Posted in Animals, Atlantic City, California, Donald Trump, Economy, Hard Rock International, Nevada, Pets, Transportation | Comments Off on Trump Taj: Everything must go; Vegas looking better than ever

Slot routes thwarted in Pennsylvania; Crown 18 convicted

Posted on July 11, 2017 by David McKee

Gaming issues are holding the Pennsylvania state budget hostage. House Majority Leader Dave Reed (R) is saying ‘no deal,’ even as Senate President Pro Tempore Joe Scarnati (R) is remarking that an agreement is “more or less” in place. The latest … Continue reading →

Posted in Economy, Genting, International, Internet gambling, Law enforcement, Lawrence Ho, Macau, Pennsylvania, Philippines, Politics, Regulation, Slot routes, The Crown 18, Wall Street | Comments Off on Slot routes thwarted in Pennsylvania; Crown 18 convicted

Best Western Stratosphere?; Atlantic City rescued in nick of time

Posted on July 6, 2017 by David McKee

* Golden Entertainment will be facing a fait accompli when it takes over the Stratosphere and Aquarius Casino Resort from American Casino & Entertainment Properties. Outgoing owner ACEP has inked a pact with Best Western to manage the two flagship … Continue reading →

Posted in ACEP, Atlantic City, Boulder Strip, Economy, Golden Gaming, Goldman Sachs, Hard Rock Hotel, International, Japan, Kazuo Okada, Laughlin, Lawrence Ho, Melco Crown Entertainment, MGM Mirage, Philippines, Politics, The Strip | 1 Comment

National Harbor cleans up; A peek inside Resorts World Las Vegas

Posted on July 6, 2017 by David McKee

MGM National Harbor drove a 40% increase in Maryland gambling revenues last month. The $50.5 million gross at MGM was evenly divided between table games and slots. Since the latter are taxed at a far higher rate, MGM won’t be … Continue reading →

Posted in Animals, Architecture, Atlantic City, California, Cordish Co., Economy, Entertainment, Genting, GLPI, Golden Gaming, Hard Rock International, Harrah's, Maryland, MGM Mirage, Penn National, Racinos, The Strip, Tribal, West Virginia | 1 Comment

Quote of the Day

Posted on June 29, 2017 by David McKee

“That creates problems for airports as far away as Bucks County in Pennsylvania. It restricts training flights, forcing pilots to fly with tracking devices and grounding skydivers and hot air balloons.” — Associated Press report on the adverse economic impact … Continue reading →

Posted in Donald Trump, Economy, Sports, Transportation | Comments Off on Quote of the Day

E-sports: The fix is in; Reno’s renaissance

Posted on June 22, 2017 by David McKee

E-sports are barely out of the gate and already match-fixing is a serious concern. South Korea has seen a scandal involving ties to organized crime and to contestants throwing games. Although players with posturing names like Joshua “steel” Nissan seem … Continue reading →

Posted in Dining, Downtown, Economy, International, MGM Mirage, Regulation, Reno, South Korea, Technology | Comments Off on E-sports: The fix is in; Reno’s renaissance

The heat is on; As Vegas warms up, so does its economy

Posted on June 21, 2017 by David McKee

Two of the nation’s premier casino markets — Las Vegas and Phoenix — are grappling with Baghdad-size temperatures, with more to come, not for months but years. (See video embed.) Coping with the Las Vegas Strip, if you dare, mandates … Continue reading →

Posted in Atlantic City, Delaware, Economy, Environment, Genting, Golden Gaming, International, Internet gambling, MGM Mirage, Neil Bluhm, Nevada, Pennsylvania, The Strip, Wall Street | Comments Off on The heat is on; As Vegas warms up, so does its economy

Bonacic: Let’s make a deal; Freeman makes sports-betting case

Posted on June 14, 2017 by David McKee

You could soon be able to play Internet poker in New York State — by going to a casino. That’s the compromise proposed by Senate Racing, Wagering & Gaming Committee Chairman John Bonacic (R). Only casinos and racinos would be eligible to … Continue reading →

Posted in Economy, Genting, Geoff Freeman, Internet gambling, Lawrence Ho, Massachusetts, New York, Philippines, Politics, Regulation, Sports, Taxes | Comments Off on Bonacic: Let’s make a deal; Freeman makes sports-betting case