Category Archives: Economy

Boyd: The big squish; Trump’s double-dip

Posted on November 2, 2016 by David McKee

“Squishy.” That was how JP Morgan analyst Joseph Greff described Boyd Gaming‘s third quarter. The soggy verbiage was probably inspired by flooding that has vexed Boyd in Louisiana. The company is also facing stiff, new competition for IP Biloxi on … Continue reading →

Posted in Atlantic City, Boyd Gaming, Cannery Casino Resorts, Culinary Union, Donald Trump, Economy, Geoff Freeman, Illinois, Louisiana, Mississippi, Regulation, Sports, Station Casinos, Taxes, Trump Entertainment Resorts, Wall Street | Comments Off on Boyd: The big squish; Trump’s double-dip

Turnaround in Macao; Trop claims another victim

Posted on November 1, 2016 by David McKee

There’s finally solid ground for optimism with regard to Macao, admittedly a good market to be in even at the worst of times. October gaming revenues surged 9%. Deutsche Bank analyst Carlo Santarelli took the numbers with a couple of … Continue reading →

Posted in Economy, Entertainment, Macau, Melco Crown Entertainment, MGM Mirage, Penn National, Pennsylvania, Politics, Sheldon Adelson, Sports, Stanley Ho, Steve Wynn, Taxes, The Strip, Tourism, Wall Street | 1 Comment

They messed with Texas; Strip hotels have boom month

Posted on October 28, 2016 by David McKee

Tribal casinos are normally pretty tight-lipped about their financial performance. Not so the Alabama Coushatta Tribe of Texas. “It’s a quaint little spot and we’re pretty proud of it,” a tribal member told Houstonia magazine, speaking of Naskila Gaming, a … Continue reading →

Posted in Alabama, California, Economy, G2E, history, IGT, Marketing, Penn National, Regulation, Texas, The Strip, Tourism, Tribal, Wall Street | Comments Off on They messed with Texas; Strip hotels have boom month

Casino moguls get stadium religion; Macao casinos not a Beijing priority

Posted on October 11, 2016 by David McKee

MGM Resorts International CEO Jim Murren has had a come-to-Jesus moment on Sheldon Adelson‘s proposed NFL stadium. After all, MGM stands the most to benefit from proximity to its all-but-certain Russell Road location. Failing to fund the stadium, Murren told … Continue reading →

Posted in Economy, Macau, MGM Mirage, Sheldon Adelson, Sports, Steve Wynn, Taxes, The Strip | 1 Comment

Quote of the Day

Posted on October 11, 2016 by David McKee

“It’s the city’s problems in a nutshell: a preference for generic slot boxes in place of resorts that capitalized on Atlantic City’s unique geography and history. A decent bet when it’s the only game in town, but a sure loser … Continue reading →

Posted in Atlantic City, Donald Trump, Economy, history | 2 Comments

Local is beautiful; Adelson loses partner

Posted on October 10, 2016 by David McKee

Motley Fool columnist Travis Hoium says investors are missing a good bet if they overlook Las Vegas locals operators to focus on the big Las Vegas Strip players. He cites Station Casinos, Boyd Gaming and Penn National Gaming (presumably for … Continue reading →

Posted in Atlantic City, Boyd Gaming, Cosmopolitan, Downtown, Economy, Entertainment, history, Law enforcement, M Resort, Maryland, MGM Mirage, Palms, Penn National, Regulation, Sheldon Adelson, Station Casinos, Steve Wynn, Taxes, Technology, The Strip, Wall Street | 1 Comment

National Harbor opening looms; Murren’s march through Georgia

Posted on October 5, 2016 by David McKee

Lucky Dragon Casino had better enjoy its 15 minutes of fame while they last because all eyes will turn to the East Coast on Dec. 8, when MGM Resorts International opens MGM National Harbor. CEO Jim Murren is already predicting … Continue reading →

Posted in Alabama, Dining, Economy, Florida, Georgia, Harrah's, Internet gambling, Maryland, MGM Mirage, New York, Pennsylvania, Politics, Taxes, Technology, Tribal | 1 Comment

Quote of the Day

Posted on October 5, 2016 by David McKee

“Frankly, the bar industry was dead. A lot of people were coming out of the good times when small business owners were making money, when business went bad. Three or four of our locations went bankrupt. And when a small … Continue reading →

Posted in Economy, Illinois, Slot routes | Comments Off on Quote of the Day

Stadium debate heats up; Seminole Tribe ousts boss

Posted on September 30, 2016 by David McKee

  While it looked for a moment like the wheels were greased for an NFL stadium on the Las Vegas Strip, financed primarily by hotel-room taxes, there’s a bit less certainty today. For one thing, Sheldon Adelson either assumed or … Continue reading →

Posted in California, Economy, Florida, Hard Rock International, Harrah's, Macau, MGM Mirage, Politics, Seminole Tribe, Sheldon Adelson, Sports, Taxes, The Strip | 2 Comments

Pennsylvania casinos trounce state; MGM looks to Brazil

Posted on September 30, 2016 by David McKee

Pennsylvania cities and counties could find themselves short of money soon — and legislators have to locate even more cash on short notice, as though the current budget impasse wasn’t trouble enough. The commonwealth has been given three months, tops, by the … Continue reading →

Posted in Economy, Eldorado Resorts, Greenwood Racing, IGT, International, Internet gambling, Japan, MGM Mirage, Neil Bluhm, Pennsylvania, Politics, Sheldon Adelson, Taxes, The Strip | Comments Off on Pennsylvania casinos trounce state; MGM looks to Brazil

Quote of the Day

Posted on September 29, 2016 by David McKee

Our jobs are every bit as patriotic as auto-worker jobs.” — MGM Resorts International CEO Jim Murren, on the emergence of the casino industry as a power player in national politics.

Posted in Economy, Election, MGM Mirage, Politics | Comments Off on Quote of the Day

Big Gaming meets the Street

Posted on September 26, 2016 by David McKee

Deutsche Bank analyst Carlo Santarelli has been in town and conducting a busy schedule of meetings. Pride of place must go to Wynn Resorts, which declared the opening of Wynn Palace “very clean,” with “solid” VIP business. Hotel occupancy is … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, California, Cannery Casino Resorts, Culinary Union, Economy, Glenn Straub, GLPI, Illinois, Louisiana, Macau, Marketing, Massachusetts, MGM Mirage, Mississippi, Missouri, North Las Vegas, Pinnacle Entertainment, Reno, Revel, Sheldon Adelson, Slot routes, Station Casinos, Steve Wynn, The Strip, Tribal, Wall Street | Comments Off on Big Gaming meets the Street

Adelson expands; Caesars sweetens the pot

Posted on September 23, 2016 by David McKee

Las Vegas Sands never did get around to building that historical museum it promised Bethlehem, Pennsylvania, and it finished its hotel in quick-and-dirty (and fugly) fashion. But that doesn’t mean that Sands is still clinging to CEO Sheldon Adelson‘s pronouncement … Continue reading →

Posted in Culinary Union, Donald Trump, Downtown, Economy, Harrah's, Pennsylvania, Regulation, Sheldon Adelson, Sports, Technology, Wall Street | Comments Off on Adelson expands; Caesars sweetens the pot

Quote of the Day

Posted on September 21, 2016 by David McKee

“By 2018, at the latest, some casinos failing to make ends meet would be forced to restructure. But the point is, why does the market cling to the hope of a turnaround,defying the fact that the gambling business has already developed … Continue reading →

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

Judge to Caesars: Get naked; Bite the wax tadpole

Posted on September 16, 2016 by David McKee

“These folks are going to have to pony up the paper,” said U.S. Bankruptcy Court Judge Benjamin Goldgar, stripping the fig leaf from Caesars Entertainment owners Marc Rowan, David Bonderman and others. They’ll have to reveal details of their personal … Continue reading →

Posted in Dining, Economy, Georgia, Harrah's, International, Lucky Dragon, Macau, Melco Crown Entertainment, MGM Mirage, Sheldon Adelson, Sports, Steve Wynn, Taxes, The Strip, Transportation, Wall Street | Comments Off on Judge to Caesars: Get naked; Bite the wax tadpole

Analysts not sold yet on Macao recovery; Soggy month for Louisiana

Posted on September 16, 2016 by David McKee

They came, they saw, they were unconvinced. “The re-affirmation that mass is improving was pronounced,” reported Deutsche Bank analyst Carlo Santarelli, adding that projections were all over the place. “We get the sense that expectations remain low with respect to … Continue reading →

Posted in Australia, Boyd Gaming, Churchill Downs, Economy, Eldorado Resorts, Galaxy Entertainment, GLPI, Harrah's, Isle of Capri, Louisiana, Macau, Massachusetts, Melco Crown Entertainment, MGM Mirage, Penn National, Pinnacle Entertainment, Racinos, Sheldon Adelson, South Korea, Steve Wynn, Tilman Fertitta, Tropicana Entertainment, Wall Street | Comments Off on Analysts not sold yet on Macao recovery; Soggy month for Louisiana

Galaxy cautious on Macao; No smoking in Mesquite?

Posted on September 7, 2016 by David McKee

One swallow doesn’t make a spring and, if you’re Galaxy Entertainment CEO Lui Che-Woo, one month of 1% growth in gambling revenue doesn’t constitute a recovery in Macao: “Give me two more years to see if there’s a recovery here.” Now … Continue reading →

Posted in Arizona, Atlantic City, California, Donald Trump, Economy, Environment, Galaxy Entertainment, Illinois, Louisiana, Macau, Marketing, Mesquite, MGM Mirage, Regulation, Sheldon Adelson, The Mob, Tribal | Comments Off on Galaxy cautious on Macao; No smoking in Mesquite?

Case Bets: Aria, Atlantic City, etc.

Posted on September 1, 2016 by David McKee

Inside Aria‘s “eye in the sky” … and also probably the last time you’ll see a player in a tuxedo on a Las Vegas casino floor. * After eight long years — and without including Internet revenue — all eight Atlantic … Continue reading →

Posted in Atlantic City, CityCenter, Economy, Election, Internet gambling, Macau, MGM Mirage, New York, Oklahoma, Regulation, Technology, The Strip, Tropicana Entertainment | Comments Off on Case Bets: Aria, Atlantic City, etc.

Wynn subtracting one golf course, adding another?; Resorts World Las Vegas postponed again

Posted on August 30, 2016 by David McKee

Although Steve Wynn remains bent upon tearing out Wynn Golf Club on the Strip — in favor of Wynn Paradise Park one day, an NFL stadium the next — he may be planning one for Wynn Boston Harbor. At least … Continue reading →

Posted in Atlantic City, Economy, Election, Entertainment, Genting, Lucky Dragon, Macau, Massachusetts, Mississippi, New York, SLS Las Vegas, Steve Wynn, The Strip | 2 Comments

Steve Wynn, re-visionary; DFS in Nevada: It’s back

Posted on August 19, 2016 by David McKee

Evidently industry leaders are coming to terms with the fact that the go-go days when Macao was a $45 billion/year casino market are over. Steve Wynn told The Associated Press that “What took place here in previous years was an anomaly. he … Continue reading →

Posted in Donald Trump, Economy, Election, Harrah's, Internet gambling, Macau, Nevada, New York, Regulation, Sheldon Adelson, Station Casinos, Steve Wynn, The Strip | Comments Off on Steve Wynn, re-visionary; DFS in Nevada: It’s back