Category Archives: Economy

Smoke and mirrors in Maine; Vegas Vickie descends

Posted on June 14, 2017 by David McKee

Surprise, surprise. Shawn Scott is back in the news. The fast-and-loose casino speculator faces queries from the Maine Ethics Commission about where it got its money. Scott’s Capital Seven is pushing a ballot question to put a racino in York … Continue reading →

Posted in Colony Capital, Derek Stevens, Downtown, Economy, history, Japan, Maine, Racinos, Regulation, Sports | Comments Off on Smoke and mirrors in Maine; Vegas Vickie descends

Murren also breaks with Trump; Adios, Vegas Vickie

Posted on June 9, 2017 by David McKee

So far, Donald Trump‘s proposal to zero out the Brand USA program is going over like a lead balloon with the gaming industry. Already American Gaming Association President Geoff Freeman has dissed the decision. Now, in a CNN op-ed, MGM Resorts … Continue reading →

Posted in Donald Trump, Economy, Foxwoods, Geoff Freeman, MGM Mirage, Mohegan Sun, Rhode Island, Sports, Technology, The Strip, Tourism, Unite-Here | Comments Off on Murren also breaks with Trump; Adios, Vegas Vickie

Galaxy targets Japan; Tribes expand Connecticut demands

Posted on June 2, 2017 by David McKee

“We believe that Japan has a huge opportunity to create something unique that doesn’t just follow the Vegas model seen in many other markets around the world.” With those words, Galaxy Entertainment President Michael Mecca announced that Galaxy was in … Continue reading →

Posted in Downtown, Economy, Foxwoods, Galaxy Entertainment, Illinois, Internet gambling, Japan, Lucky Dragon, Macau, MGM Mirage, Mohegan Sun, Neil Bluhm, Politics, Taxes | Comments Off on Galaxy targets Japan; Tribes expand Connecticut demands

Macao resurgence continues; Skill-based slots get second wind

Posted on June 2, 2017 by David McKee

As Galaxy Entertainment CEO Lui-Che Woo is fond of pointing out, it will take two years of positive results before Macao can be said to have recovered from its revenue collapse. That being said, May’s results — 24% up — … Continue reading →

Posted in Atlantic City, Economy, Foxwoods, Galaxy Entertainment, GameCO, Harrah's, Macau, MGM Mirage, Movies, Technology, Tribal, Tropicana Entertainment, Wall Street, Wayne F. Newton | Comments Off on Macao resurgence continues; Skill-based slots get second wind

Strip survives baccarat drought; Gural reprieves Atlantic City

Posted on May 31, 2017 by David McKee

Las Vegas Strip gaming execs can breathe a sigh of relief that April’s 3% decline in revenue, while worse than expected, was as small as it was. After all, they were up against flat baccarat wagering and a revenue plunge … Continue reading →

Posted in Atlantic City, Economy, Election, Foxwoods, Hard Rock International, Marketing, MGM Mirage, Mohegan Sun, New York, Politics, Technology, TV | Comments Off on Strip survives baccarat drought; Gural reprieves Atlantic City

Connecticut casino faces uncertain future; Japanese cities protest casino process

Posted on May 26, 2017 by David McKee

Connecticut‘s controversial satellite casino has been voted through the state Senate. This prompted a swift response from the Schaghticoke Tribal Nation, which promised a lawsuit (probably financed by MGM Resorts International). Gov. Dannel Malloy (D) threw his support behind the satellite … Continue reading →

Posted in California, Economy, Foxwoods, Harrah's, Japan, Massachusetts, MGM Mirage, Mohegan Sun, Politics, Sheldon Adelson, Transportation, Tribal | Comments Off on Connecticut casino faces uncertain future; Japanese cities protest casino process

Freeman: Let my people bet!

Posted on May 11, 2017 by David McKee

Undistracted by the current shenanigans in Washington, D.C., the American Gaming Association‘s Geoff Freeman is staying on course about legalized sports betting. The AGA recently commissioned a Greenberg Quinlan Rosner poll that concluded — surprise! — that most Americans favor legalized … Continue reading →

Posted in Ameristar, Baseball, Boyd Gaming, Economy, Foxwoods, Full House Resorts, Geoff Freeman, GLPI, Harrah's, Indiana, Internet gambling, Majestic Star, MGM Mirage, Mohegan Sun, Neil Bluhm, New York, Penn National, Pinnacle Entertainment, Politics, Racinos, Sports, Tribal, Tropicana Entertainment | Comments Off on Freeman: Let my people bet!

Ho upbeat on Macao, Japan; Showdown for Gun Lake Tribe

Posted on May 3, 2017 by David McKee

Macao could be a $45 billion-a-year market again, says Lawrence Ho, who calls himself extremely bullish on the enclave’s prospects. He’s not been snorting coke, according to Union Gaming Group analyst Grant Govertsen, who calls it “achievable target for Macao … … Continue reading →

Posted in Economy, Japan, Lawrence Ho, Macau, Melco Crown Entertainment, Politics, Tribal, Wall Street | Comments Off on Ho upbeat on Macao, Japan; Showdown for Gun Lake Tribe

Quote of the Day

Posted on April 28, 2017 by David McKee

“It’s a stupid number. Let’s assume we have the max, which is five casinos. Now take $40 billion divided by five—that’s $8.5 billion. The largest-grossing casino in the world, Marina Bay Sands, does about $3.2 billion a year. Are you telling … Continue reading →

Posted in Economy, Japan, Singapore, Wall Street | 1 Comment

REITs meet the Street; Martinez wins in New Mexico

Posted on April 28, 2017 by David McKee

REITs Gaming & Leisure Properties and MGM Growth Properties both checked in with Wall Street yesterday, and further acquisitions were on the mind of both. In the case of MGM, its next target of opportunity is MGM National Harbor (“on … Continue reading →

Posted in Donald Trump, Economy, GLPI, Harrah's, MGM Mirage, Mississippi, Ohio, Penn National, Pennsylvania, Sheldon Adelson, Sports, The Strip, Tribal, Wall Street | Comments Off on REITs meet the Street; Martinez wins in New Mexico

Wynn: Paradise deferred

Posted on April 26, 2017 by David McKee

Perhaps it’s the distraction caused by casino legalization in Japan. Perhaps it’s the cost creep (now up to $2.4 billion) at Wynn Boston Harbor. Whatever the reason, Wynn Resorts has scaled down its plans for Wynn Paradise Park. Rest assured, … Continue reading →

Posted in Ameristar, Economy, Entertainment, Indiana, Iowa, Macau, Massachusetts, Mississippi, Steve Wynn, The Strip, Wall Street, Warner Gaming | Comments Off on Wynn: Paradise deferred

Big bounce in Louisiana; Poker and booze go better together

Posted on April 19, 2017 by David McKee

Compared with a flood-plagued March of 2015, business was booming  at Louisiana casinos, up 10%, especially Baton Rouge (+20.5%), although New Orleans was flat. JP Morgan analyst Joseph Greff is predicting less salubrious results in April, blaming the Easter Bunny, among … Continue reading →

Posted in Boyd Gaming, Churchill Downs, Economy, Eldorado Resorts, Foxwoods, Genting, GLPI, Harrah's, IGT, Internet gambling, Isle of Capri, Louisiana, Massachusetts, MGM Mirage, Mohegan Sun, Pinnacle Entertainment, Politics, Regulation, South Korea, Taxes, Tilman Fertitta, Tourism, Tribal, Tropicana Entertainment, Wall Street | Comments Off on Big bounce in Louisiana; Poker and booze go better together

Saturation in Ohio; Japan: Go big or go home

Posted on April 17, 2017 by David McKee

Ohio Gov. John Kasich (R) leveled the playing field when he allowed third-party racinos to join the juiced-in Penn National Gaming and Caesars Entertainment casinos in the Buckeye State. The question now is how level a playing field is a … Continue reading →

Posted in Detroit, Economy, Genting, GLPI, Hard Rock International, Harrah's, International, Internet gambling, Iowa, Japan, New York, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Technology, Wall Street | Comments Off on Saturation in Ohio; Japan: Go big or go home

Bellagio is burning; Parking valets stiffed

Posted on April 14, 2017 by David McKee

Remember the Monte Carlo fire and how it was fueled by construction foam? It was much the same story last night when the south “arm” of Bellagio caught on fire, a blaze which raged for 25 minutes. “You can smell that sulfur,” said … Continue reading →

Posted in Architecture, Cosmopolitan, Cretins, Economy, Harrah's, MGM Mirage, Monte Carlo fire, Planet Hollywood, Technology, The Strip, Tribal | Comments Off on Bellagio is burning; Parking valets stiffed

Exit Trump, enter Hard Rock; Casinos in Cuba again?

Posted on April 10, 2017 by David McKee

Hard Rock International is putting its money where its mouth is, judging from the preview it gave of the Hard Rocked Trump Taj Mahal. The most obvious changes will be on the exterior, where all the tiki-tacky Trump theming will … Continue reading →

Posted in Architecture, Atlantic City, Columbia Sussex, Donald Trump, Economy, Entertainment, Foxwoods, Hard Rock International, International, MGM Mirage, Mohegan Sun, Penn National, Politics, Sports, Taxes, The Strip, Tourism, Trump Entertainment Resorts | 1 Comment

Quote of the Day

Posted on April 7, 2017 by David McKee

“The survey showed that 69 percent of people gambled while on their trip to Las Vegas, down 18 percent from 1996 when 87 percent of tourists said they gambled. Those gamblers were playing an average of 1.9 hours a day … Continue reading →

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

Hard Rock to spend big in Atlantic City; Bad news for slot makers

Posted on April 6, 2017 by David McKee

In the biggest vote of confidence Atlantic City has received in a decade, Hard Rock International has announced that it intends to invest $375 million in the former Trump Taj Mahal. On top of the 1,000 projected construction jobs, Hard … Continue reading →

Posted in Atlantic City, Cordish Co., Economy, Golden Gaming, Hard Rock International, Harrah's, International, Lawrence Ho, Marketing, Maryland, MGM Mirage, New York, Penn National, Pinnacle Entertainment, Station Casinos, Technology, Tribal | 2 Comments

Trump keeps them guessing; Meet your new neighbor, Steve Wynn

Posted on April 4, 2017 by David McKee

Could the president of the United States build a Las Vegas casino? That’s regulatory terra incognito that Nevada regulators will have to explore as Phil Ruffin and Donald Trump continue with their plan to erect a Trump-branded casino next door … Continue reading →

Posted in Architecture, Donald Trump, Economy, Law enforcement, Massachusetts, MGM Mirage, Movies, New York, Phil Ruffin, Regulation, Riviera, Sports, Steve Wynn, The Mob, The Strip | Comments Off on Trump keeps them guessing; Meet your new neighbor, Steve Wynn

Reading Trump’s tea leaves; Paper to MGM: Give us your money — or else!

Posted on March 27, 2017 by David McKee

What does the nascent Trump administration bode of tribal gaming? That question is vigorously bandied about in the new issue of Global Gaming Business. Although fairly circumspect in his opinions, National Indian Gaming Association Chairman Ernest Stevens Jr. sees cause … Continue reading →

Posted in California, Downtown, Economy, Entertainment, Foxwoods, history, Indiana, Macau, Massachusetts, MGM Mirage, Mohegan Sun, Neil Bluhm, New York, North Las Vegas, Philippines, Politics, Steve Wynn, The Mob, Tribal | Comments Off on Reading Trump’s tea leaves; Paper to MGM: Give us your money — or else!

Quote of the Day

Posted on March 27, 2017 by David McKee

“I don’t like to say that we’re a ‘gaming tribe. We’re a farming tribe that happens to have a casino … Gaming may not be here forever. So we have to be able to look back and say that we … Continue reading →

Posted in Arizona, Economy, Harrah's, Tribal | Comments Off on Quote of the Day