Category Archives: Economy

Great month for the Strip, for Louisiana not so much

Posted on July 25, 2014 by David McKee

Buoyed by heavy baccarat play, the Las Vegas Strip registered a 22.5% gain in June. The house played very lucky, too, with win up a staggering 155%. At the other end of the gaming spectrum, those slots must have been … Continue reading →

Posted in Atlantic City, Boyd Gaming, Churchill Hill, Downtown, Economy, Harrah's, Isle of Capri, Lake Tahoe, Laughlin, Louisiana, North Las Vegas, Penn National, Pinnacle Entertainment, Racinos, Reno, The Strip, Tropicana Entertainment | 1 Comment

Glimmers of hope on the Boardwalk

Posted on July 24, 2014 by David McKee

Every morning, Atlantic City Mayor Don Guardian (R) rides his bicycle along the Boardwalk. This morning, Guardian must have felt he was carrying a heavier burden than usual. Although Hizzoner has maintained that Atlantic City will come out on the … Continue reading →

Posted in Atlantic City, Economy, Harrah's, Mississippi, Politics, Regulation, Revel, Trump Entertainment Resorts, Wall Street | Comments Off

Gaming industry gets mixed notices

Posted on July 23, 2014 by David McKee

American Gaming Association data on the health of the casino industry continues to be parceled out. Today we learned that Louisiana has 2.2X as many casino employees as Ohio but they make 2.7X as much. Mind you, the Buckeye State’s … Continue reading →

Posted in Economy, IGT, International, Internet gambling, Louisiana, Ohio, Racinos, Wall Street | Comments Off

Forced to gamble?; SugarHouse goes big

Posted on July 23, 2014 by David McKee

New Jersey‘s Casino Control Commission has been accused of overzealousness in the past (think MGM Resorts International and Pansy Ho). But now some overzealotry is what local politicians want. In a bizarre and probably unconstitutional move, they want the NJCCC to force, … Continue reading →

Posted in Atlantic City, Economy, Harrah's, MGM Mirage, Neil Bluhm, Pansy Ho, Pennsylvania, Regulation, Trump Entertainment Resorts | Comments Off

Thinking the unthinkable

Posted on July 21, 2014 by David McKee

Could Nevada casino floors go genuinely smoke-free? That’s the idea floated by Deutsche Bank analyst Andrew Zarnett. Although Nevada voters have exempted casino floors from smoking bans, Zarnett thinks that state of affairs could change by 2016 or so, at … Continue reading →

Posted in Delaware, Economy, Environment, Florida, Illinois, Macau, Mississippi, Sheldon Adelson, The Strip, Transportation | 2 Comments

Prosperity in Detroit? You bet; Penn’s persistence

Posted on July 18, 2014 by David McKee

Those busy boffins at the American Gaming Association have been crunching data from Detroit and come up with some interesting statistics. The three Motown casinos are a bit lighter in the workforce (down 4%), having lost or laid off 350 … Continue reading →

Posted in Economy, Election, Massachusetts, MGM Mirage, Missouri, Penn National, Regulation, Taxes, Technology, Tropicana Entertainment | Comments Off

Goodbye IGT, hello Gtech

Posted on July 16, 2014 by David McKee

Early this morning, International Game Technology announced it had been acquired by Gtech, an Italian company specializing in lotteries. The terms of the deal include the assumption of $1.7 billion in debt and the payment of $4.7 billion in cash. … Continue reading →

Posted in Bally Technologies, Current, Economy, GTECH, IGT, Scientific Games, Shuffle Master, Wall Street, WMS Industries | Comments Off

N.Y.: We’re poorer than you; Shame at the Plaza

Posted on July 14, 2014 by David McKee

That casino battle in New York State is evolving into a war of words. At stake is who can prove they’re poorer than the next guy. A study commissioned by the Sullivan County Partnership for Economic Development reached the perverse point of … Continue reading →

Posted in Downtown, Economy, Harrah's, New York, Regulation, Tamares Group | 2 Comments

Quote of the Day

Posted on July 14, 2014 by David McKee

“We have all the ills of it but none of the benefits of it.” — Kentucky gubernatorial candidate Jack Conway (D), on the issue of casino gambling.

Posted in Economy, Election, Kentucky | Comments Off

SLS: Charming the locals

Posted on July 9, 2014 by David McKee

Posted in Economy, Sam Nazarian, The Strip | Comments Off

Reno 2.0; Saturation in Ohio

Posted on July 7, 2014 by David McKee

All roads lead through Reno, more or less, if you’re dealing with Amazon.com. Now the Biggest Little City in the World is hoping to export high-tech instead. A corridor to that purpose, nicknamed “Startup Row” has sprung up downtown. A … Continue reading →

Posted in California, Economy, Harrah's, Ohio, Penn National, Pinnacle Entertainment, Revel | Comments Off

What’s in a name?

Posted on July 1, 2014 by David McKee

Quite a lot apparently, if you’re Wynn Boston and you’re going up against local favorite Mohegan Sun. A poll taken by the Center for Policy Analysis at the University of Massachusetts Dartmouth found voters split between 48% in favor of Mohegan … Continue reading →

Posted in Atlantic City, Colorado, Delaware, Detroit, Economy, Election, Foxwoods, Illinois, Indiana, Kansas, Louisiana, Massachusetts, Missouri, Mohegan Sun, New York, Pennsylvania, Steve Wynn, The Strip | Comments Off

D-Day in New York

Posted on June 30, 2014 by David McKee

Today’s the day to get formal bids in on New York State casinos. In the process, the search criteria have been stood on their head by comparatively affluent Orange County, which now dominates the bidding, economic regeneration be damned. Liberty … Continue reading →

Posted in Colorado, Economy, Foxwoods, Internet gambling, New York | Comments Off

Showboat: The autopsy; Penn: We’re outta here!

Posted on June 30, 2014 by David McKee

Leaving aside the human effect, in cold business calculus, Caesars Entertainment‘s closure of the Showboat Atlantic City makes sense. At least that’s what Mayor Don Guardian is saying echoed by Wall Street. “The closure makes financial sense for Caesars and … Continue reading →

Posted in Atlantic City, Boyd Gaming, Delaware, Economy, Harrah's, Massachusetts, New York, Penn National, Pennsylvania, Racinos, Taxes, Wall Street | 1 Comment

Boffo May in Vegas; The power of convenience

Posted on June 27, 2014 by David McKee

Wall Street was pleasantly surprised by May’s gambling numbers from Nevada and especially the Las Vegas Strip, which was up 17%. Statewide, revenues rose 8%, reflecting the dilutive effect of an 8% decline in locals gaming revenue. A 3% dip … Continue reading →

Posted in Boulder Strip, Downtown, Economy, Election, Hard Rock International, Harrah's, Illinois, Laughlin, Massachusetts, MGM Mirage, Mohegan Sun, North Las Vegas, Ohio, Penn National, Problem gambling, Racinos, Regulation, Slot routes, The Strip, Wall Street | 3 Comments

Massachusetts: A call to action

Posted on June 26, 2014 by David McKee

Casino companies in Massachusetts “could” or “may” team up to fight the repeal effort currently underway. How about “must” or “should”? If ever there were an imperative for joint action, this is it. Perhaps even Wynn Resorts and Mohegan Sun could … Continue reading →

Posted in Economy, Election, Foxwoods, Geoff Freeman, Horseracing, IGT, Internet gambling, Massachusetts, MGM Mirage, Mohegan Sun, Penn National, Politics, Steve Wynn | Comments Off

Mississippi bogged down; How much for Revel?

Posted on June 24, 2014 by David McKee

Still further evidence of gaming saturation comes from the Bayou State, where revenues have declined in 21 of the last 23 months — an Atlantic City-like declivity. Last month, the last full month of operations for Harrah’s Tunica, statewide revenues … Continue reading →

Posted in Atlantic City, Economy, Hard Rock International, Maryland, MTR Gaming, Ohio, Penn National, Racinos, Regulation, Revel, West Virginia | Comments Off

New York, worker’s paradise; Tough call in Iowa

Posted on June 23, 2014 by David McKee

Casino workers in New York really can be assured of good-paying jobs. According figures released by the New York Hotel & Trades Council, a starting salary of $40,000 is quite plausible. Resorts World New York employees landed a contract last … Continue reading →

Posted in Economy, Genting, Iowa, New York, Penn National, Racinos, Regulation | Comments Off

Atlantic City: Game over?

Posted on June 23, 2014 by David McKee

Atlantic City‘s last, best hope — sports betting — was swatted away by the U.S. Supreme Court. While keeping mum on its reasoning, the Supremes let stand a federal ban on sports wagering. Found at a charity softball game, Gov. … Continue reading →

Posted in Atlantic City, Economy, Harrah's, International, Internet gambling, Japan, Lawrence Ho, Mohegan Sun, Sports, Tourism, Transportation | Comments Off

Revel bankrupt … again

Posted on June 20, 2014 by David McKee

Owned by former creditors, Revel Casino Hotel is dropping a bankruptcy on newer creditors. Hopefully this move will stave off the Aug. 18 closing (perhaps as late as Sept. 1.) that was threatened in a letter to employees yesterday, although the … Continue reading →

Posted in Atlantic City, Delaware, Dining, Economy, Entertainment, Foxwoods, Harrah's, Maryland, Pennsylvania, Racinos, Revel, Rhode Island, Taxes | 1 Comment