Category Archives: Economy

Trump’s Vegas Castle?; Florida Lege speaks with forked tongue

Posted on March 24, 2017 by David McKee

Just a few months ago, the idea of a Donald Trump-branded casino on the Las Vegas Strip would have seemed like a joke. Trump’s brand equity in gaming had dwindled to zilch and the man himself was out of gaming … Continue reading →

Posted in Australia, Donald Trump, Economy, Florida, Internet gambling, Macau, Mississippi, Phil Ruffin, Politics, Racinos, Seminole Tribe, The Strip, Transportation | Comments Off on Trump’s Vegas Castle?; Florida Lege speaks with forked tongue

Gaming up nationally — but Louisiana gets hammered

Posted on March 20, 2017 by David McKee

America‘s casino industry had a winning month in January, up 3.5% to $3.4 billion. Even Illinois, which has never recovered from the smoking ban, was in the top four, behind Nevada (naturally), Pennsylvania and Louisiana. The only serious loser was … Continue reading →

Posted in Affinity Gaming, Atlantic City, Boyd Gaming, Churchill Downs, Economy, Eldorado Resorts, GLPI, Harrah's, Illinois, Internet gambling, Isle of Capri, Louisiana, Marketing, Maryland, Ohio, Pennsylvania, Pinnacle Entertainment, Sheldon Adelson, Taxes, Tilman Fertitta, Tropicana Entertainment, West Virginia | Comments Off on Gaming up nationally — but Louisiana gets hammered

Legal trouble for Mohegan, Foxwoods; The gospel according to Slammy

Posted on March 15, 2017 by David McKee

It looks as though the constitutionality of a no-bid, off-reservation casino for Mohegan Sun and Foxwoods Resort Casino may be an issue after all. Connecticut Attorney General George Jepsen issued an opinion that the legal risks with the unusual deal “are not … Continue reading →

Posted in California, Downtown, Economy, Foxwoods, Massachusetts, MGM Mirage, Mohegan Sun, Penn National, Pennsylvania, Sports, The Strip | Comments Off on Legal trouble for Mohegan, Foxwoods; The gospel according to Slammy

MGM antes up for Sands Bethlehem; Glenn Straub, man of mystery

Posted on March 9, 2017 by David McKee

Last week’s premature announcement by Sands Bethlehem President Mark Juliano that a sale, probably to MGM Resorts International, may have redounded to Las Vegas Sands‘ benefit. The reported sale price has crept up to $1.3 billion. Since a sale would … Continue reading →

Posted in Atlantic City, Economy, Glenn Straub, Macau, Marketing, MGM Mirage, Palms, Pennsylvania, Revel, Sheldon Adelson, Station Casinos, Taxes, Wall Street | Comments Off on MGM antes up for Sands Bethlehem; Glenn Straub, man of mystery

AGA backs Obamacare; “Messy” quarter for Station

Posted on March 8, 2017 by David McKee

OK, the headline is an oversimplification (as headlines tend to be) but the American Gaming Association found itself in disagreement with congressional Republicans after their overhaul of the Affordable Care Act was found to leave mental-health and substance-use-disorder services out in the … Continue reading →

Posted in Dan Gilbert, Economy, Eldorado Resorts, Geoff Freeman, GLPI, Hard Rock International, Lucky Dragon, Marketing, Ohio, Palms, Penn National, Pinnacle Entertainment, Politics, Problem gambling, Reno, Station Casinos, Wall Street | Comments Off on AGA backs Obamacare; “Messy” quarter for Station

More resort fees at MGM; Sands Bethlehem sold?

Posted on March 3, 2017 by David McKee

It was show time for the big boys at the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum, starting with MGM Resorts International, which had to get started by explaining why fourth-quarter numbers had been “coming in well below … Continue reading →

Posted in Architecture, Atlantic City, California, Donald Trump, Economy, Hard Rock International, Harrah's, Harry Reid, Japan, Macau, Maryland, Massachusetts, MGM Mirage, Penn National, Pennsylvania, Pinnacle Entertainment, Seminole Tribe, Sheldon Adelson, Singapore, Sports, Steve Wynn, The Strip, Tourism, Transportation, Tribal, Tropicana Entertainment, Wall Street | 1 Comment

Business as usual at Boyd; Pinnacle looks to expand

Posted on March 3, 2017 by David McKee

* Top brass at Boyd Gaming met with J.P. Morgan analyst Joseph Greff and reported a relatively unruffled start to 2017, although the delayed mailing of income-tax refunds (about three weeks later than usual) was retarding results a bit. Still, … Continue reading →

Posted in Boyd Gaming, California, Cannery Casino Resorts, Colorado, Current, Economy, Louisiana, Marketing, MGM Mirage, North Las Vegas, Penn National, Pinnacle Entertainment, The Strip, Tilman Fertitta, Tribal, Wall Street, West Virginia | 1 Comment

Quote of the Day

Posted on March 3, 2017 by David McKee

“We do know that the modern casino industry is influenced by the overall economy. Today, that economy is healthy. But there’s a caveat—the recovery is getting long in the tooth, and no one yet has repealed the business cycle. And … Continue reading →

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

The case for cannibalization; Hard Rock buys Taj

Posted on March 2, 2017 by David McKee

There’s still a big budget shortfall in Pennsylvania and state Rep. Mike Sturla thinks he has at least part of the answer: slot routes. Casinos can be expected to decry this proposed solution and some already are. But for Sturla … Continue reading →

Posted in Atlantic City, Carl Icahn, Economy, Foxwoods, Geoff Freeman, Golden Gaming, Hard Rock International, Harry Reid, Illinois, MGM Mirage, Mohegan Sun, Penn National, Pennsylvania, Politics, Revel, Slot routes, Sports, The Strip, Tribal, Tropicana Entertainment, West Virginia | Comments Off on The case for cannibalization; Hard Rock buys Taj

Wayne Newton, Mr. Convention; Adelson covets Vietnam

Posted on March 1, 2017 by David McKee

If you doubted that the convention business is the new face of Las Vegas, it trotted out the pretty visage of Wayne Newton. The latter’s Casa de Shenandoah is promoting itself as the new place to hold your meeting, offering to … Continue reading →

Posted in Atlantic City, Economy, GLPI, Hard Rock International, Harrah's, Illinois, Japan, Lawrence Ho, Macau, Marketing, Melco Crown Entertainment, Penn National, Politics, Racinos, Regulation, Sheldon Adelson, Singapore, South Korea, Technology, Tourism, Tropicana Entertainment, Vietnam, Wayne F. Newton | Comments Off on Wayne Newton, Mr. Convention; Adelson covets Vietnam

Wynn shows Adelson up; Schenectady casino opens tonight

Posted on February 8, 2017 by David McKee

Contrary to crude insinuations by the Las Vegas Review-Journal, Steve Wynn‘s gift of $7 million in company stock late last year went mainly toward medical research at the University of Iowa’s Wynn Institute for Vision Research ($5 million), while another $1.7 … Continue reading →

Posted in Animals, Charity, Economy, Harrah's, Iowa, Maine, Marketing, Neil Bluhm, New York, Sheldon Adelson, Sports, Steve Wynn, Technology, The Strip, Tribal | 1 Comment

Quote of the Day

Posted on February 8, 2017 by David McKee

“It is very hard to open a casino that doesn’t have another casino within 100 miles, so the pie is really being divided up. The bottom line is going to be in three, four, five years when the rest of … Continue reading →

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

Next stop, Terre Haute

Posted on February 3, 2017 by David McKee

Now that ex-Gov. Mike Pence (R) has moved on to bigger and better things, casino expansion is back on the table in Indiana. The question seems to be more one of “where” than “if.” Lawmakers are warming to Dan Lee‘s … Continue reading →

Posted in Dan Lee, Economy, Full House Resorts, Illinois, Indiana, International, Isle of Capri, Macau, Melco Crown Entertainment, New Hampshire, Pennsylvania, Philippines, Politics, Racinos, Slot routes, Taxes, Tribal | Comments Off on Next stop, Terre Haute

Wynn-Adelson feud renewed; Caesars readies wrecking ball

Posted on February 3, 2017 by David McKee

Until recently, Sheldon Adelson was the face of Republican Party fundraising. But the GOP’s new fair-haired boy is a certain Steve Wynn and Adelson doesn’t appear to be taking it lying down. His Las Vegas Review-Journal, showed uncharacteristic investigative moxie … Continue reading →

Posted in Charity, Donald Trump, Downtown, Economy, Election, Harrah's, Macau, Marketing, Sheldon Adelson, Steve Wynn | 2 Comments

Quote of the Day

Posted on February 2, 2017 by David McKee

“Nevada gambling revenue has stayed relatively flat since 2009. It hasn’t rebounded to pre-recession levels of a decade ago.” — The Associated Press, still not getting the memo that the go-go days of 2007 are gone — and they’re not … Continue reading →

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

Adelson out of stadium deal; Tepid December on Strip

Posted on January 31, 2017 by David McKee

It didn’t take long for Sandoval’s Folly, the mooted [your city here] Raiders stadium to blow up in the governor’s face. With characteristic irascibility, Las Vegas Sands CEO Sheldon Adelson withdrew from the project, taking his $650 million with him. … Continue reading →

Posted in Boulder Strip, Cordish Co., Cretins, Downtown, Economy, Foxwoods, GLPI, Harrah's, Horseracing, Japan, Laughlin, Maryland, MGM Mirage, Mohegan Sun, Nevada, North Las Vegas, Penn National, Politics, Regulation, Reno, Sheldon Adelson, Sports, The Strip, Tribal, Virginia, Wall Street, West Virginia | Comments Off on Adelson out of stadium deal; Tepid December on Strip

Wynn Palace a work in progress; Hawaii ponders i-gaming

Posted on January 27, 2017 by David McKee

Wall Street analysts were pleasantly surprised by the latest results from Wynn Palace, which exceeded expectations. As JP Morgan analyst Joseph Greff wrote, the Palace “has reconfigured the main casino floor (mass market), adding new slot/poker sections and opening up … Continue reading →

Posted in Delaware, Economy, Hawaii, Internet gambling, Macau, Massachusetts, Neil Bluhm, Nevada, Penn National, Pennsylvania, Regulation, Sheldon Adelson, Steve Wynn, Technology, The Strip, Wall Street | Comments Off on Wynn Palace a work in progress; Hawaii ponders i-gaming

Maryland: Playing the blame game; Island casinos confront Trump

Posted on January 25, 2017 by David McKee

As might be expected, MGM National Harbor‘s opening strapped a jet pack on Maryland casino revenues for December, which came in at $133.5 million, easily surpassing last May’s then-record $104 million. Wagering — as opposed to win — per slot … Continue reading →

Posted in Cordish Co., Donald Trump, Economy, Harrah's, Horseracing, Illinois, International, Internet gambling, Macau, Maine, Maryland, MGM Mirage, Penn National, Racinos, Regulation, Slot routes, Taxes, Tribal | Comments Off on Maryland: Playing the blame game; Island casinos confront Trump

Ideas plentiful, funding scarce

Posted on January 23, 2017 by David McKee

Maybe the third try will be the charm. Australian entrepreneur Josh Kearney has announced an $800 million, extreme-sports-themed resort, to arise just northeast of Town Square Mall (built on the grave of the troubled Vacation Village Casino). The Edge, as … Continue reading →

Posted in Australia, Economy, history, International, James Packer, Law enforcement, Lucky Dragon, Macau, Steve Wynn, The Crown 18, The Strip, Tribal, Wall Street, Wisconsin | Comments Off on Ideas plentiful, funding scarce

Plainridge Park defies the odds; Gaming advocate’s conflict unearthed

Posted on January 23, 2017 by David McKee

States with lotteries are loath to let casinos in their borders. It’s an idea that’s D.O.A. in Nevada and Kansas protected its flank by making the casinos the property of the state lottery. However, a study by the Massachusetts Gaming … Continue reading →

Posted in Economy, Florida, Geoff Freeman, Hard Rock International, Internet gambling, Kansas, Massachusetts, Neil Bluhm, Nevada, Penn National, Pennsylvania, Politics, Regulation, Seminole Tribe | Comments Off on Plainridge Park defies the odds; Gaming advocate’s conflict unearthed