Category Archives: Economy

Revel to close, barring a miracle; Gaughan memorialized

Posted on June 19, 2014 by David McKee

That’s the message coming from top Revel Resort brass, who sent a letter to casino employees cautioning them that — unless the property can be sold by Aug. 18 — they all may be out of jobs: “If Revel is unable … Continue reading →

Posted in Atlantic City, Downtown, Economy, Fontainebleau, Hard Rock International, Harrah's, history, Massachusetts, Tribal | 1 Comment

Mohegan Sun: It’s us or nobody; Tunica blues

Posted on June 19, 2014 by David McKee

Eastern Massachusetts voters would rather have a Mohegan Sun casino than a Wynn Resorts one. So claims a poll paid for by Mohegan Sun … so draw your own conclusions. It also shows casino-law repeal only getting 35% of the … Continue reading →

Posted in Delaware, Economy, Election, Harrah's, Massachusetts, Mississippi, Mohegan Sun, Politics, Steve Wynn, Taxes | Comments Off on Mohegan Sun: It’s us or nobody; Tunica blues

Quote of the Day

Posted on June 18, 2014 by David McKee

“The good news is that the southern Nevada economy is improving, and at an accelerating rate. The great news is that the growth is widespread across southern Nevada’s industries.” — report from the UNLV Center for Business & Economic Research, predicting … Continue reading →

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Quote of the Day

Posted on June 17, 2014 by David McKee

“It amazes me that they keep pushing, but you’re always going to have investors that want more casinos and the government people will say hurray, hurray more tax money. They’re going to drain the local economy.” — UNLV professor of … Continue reading →

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

Japan: Promises, promises; Double-standard in Iowa

Posted on June 13, 2014 by David McKee

Democratic Party lawmaker Yosuke Kondo has casino-legalization in Japan legislation wrapped around his pinkie like a piece of string. Prime Minister Shinzo Abe may favor enabling legislation but right now Kondo holds the trump card. The bill is in a … Continue reading →

Posted in Economy, Election, Iowa, Japan, Politics, Regulation | Comments Off on Japan: Promises, promises; Double-standard in Iowa

Flip-floppery in Iowa; Affleck banned again?

Posted on June 12, 2014 by David McKee

Barring an emergency injunction, Belle of Sioux City is doomed to shut down on July 1, a federal bankruptcy judge having been deaf to Penn National Gaming‘s pleas. Penn is arguing that the Iowa Racing & Gaming Commission overstepped its authority … Continue reading →

Posted in Detroit, Dining, Downtown, Economy, Harrah's, Iowa, Penn National, Regulation, Steve Wynn, Technology, Warner Gaming | Comments Off on Flip-floppery in Iowa; Affleck banned again?

Adelson: Another one bites the dust

Posted on June 12, 2014 by David McKee

If Sheldon Adelson wants to protect America from underage gambling, he might start at his Sands Bethlehem casino. The casino has racked up $305,000 in fines in five years. Six incidents this year have incited the latest fine: $85,000. Casino … Continue reading →

Posted in Atlantic City, Boyd Gaming, Detroit, Economy, Election, International, Internet gambling, Neil Bluhm, Pennsylvania, Politics, Regulation, Sheldon Adelson, Tribal | Comments Off on Adelson: Another one bites the dust

Quote of the Day

Posted on June 11, 2014 by David McKee

“Any hint of bad news from Macau requires the use of defibrillators in casino company boardrooms and investment houses.” — Howard Stutz, on the prospect of a slowdown in Macao’s casino revenues this year.

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New York: Promises and excuses

Posted on June 9, 2014 by David McKee

New York casino developers are enumerating the economic benefits for their prospective employees. Make no mistake, many of the jobs will be entry-level, minimum-wage employment. Saratoga Casino & Raceway is predicted a 47%/30% split between unskilled and skilled employees, with … Continue reading →

Posted in Cretins, Economy, Marketing, New York, North Las Vegas, Racinos, Singapore | 1 Comment

May challenging for Iowa, disastrous for Illinois

Posted on June 6, 2014 by David McKee

At present, the Iowa Racing & Gaming Commission is mulling whether to put a casino in relatively isolated (see video) Jefferson. While they’re weighing that Wild Rose Entertainment project, here’s something else to ponder: The latest set of revenue numbers … Continue reading →

Posted in Ameristar, Boyd Gaming, Current, Economy, Harrah's, Illinois, Iowa, Isle of Capri, MGM Mirage, Neil Bluhm, Penn National, Pinnacle Entertainment, Regulation, Slot routes | Comments Off on May challenging for Iowa, disastrous for Illinois

Abboud: Sinners repent!; Loveman’s orphan

Posted on June 4, 2014 by David McKee

Sounding like anti-casino zealot, Las Vegas Sands Senior Vice President of Government Relations & Community Development Andy Abboud had a dire message for Pennsylvania lawmakers: “Gambling was never supposed to be everywhere. It’s not an entitlement; it’s a vice. It needs to be doled … Continue reading →

Posted in Cannery Casino Resorts, Economy, Election, Harrah's, Harry Reid, Japan, Neil Bluhm, Pennsylvania, Politics, Sheldon Adelson | Comments Off on Abboud: Sinners repent!; Loveman’s orphan

Quote of the Day

Posted on June 4, 2014 by David McKee

“The debate is heating up just as state Comptroller Thomas DiNapoli says most gamblers at the new casinos will be area residents, not out-of-state tourists, and a large resort casino in Mississippi closes as gambling revenues fall.” — Albany Business Review reporter … Continue reading →

Posted in Economy, Harrah's, Mississippi, New York | 1 Comment

Casinos battle an ebb tide; Loveman rebuffed

Posted on June 2, 2014 by David McKee

Today marks the date that the casino industry officially became too large for the country to support, symbolized by the closing of Harrah’s Tunica. “There’s gambling everywhere. If you just want to gamble, you don’t have to go very far to do … Continue reading →

Posted in Economy, Harrah's, Illinois, Massachusetts, Mississippi, Politics, Regulation | Comments Off on Casinos battle an ebb tide; Loveman rebuffed

Massachusetts: Pay the man; Robbing Peter to wager on Paul

Posted on May 30, 2014 by David McKee

If casino gambling is outlawed in a November referendum, MGM Resorts International and Wynn Resorts want their money back. After all, they’ll be out the $85 million application fee and that’s just for starters. They’d also like to be reimbursed … Continue reading →

Posted in Delaware, Economy, Japan, Maryland, Massachusetts, MGM Mirage, New York, Ohio, Penn National, Pennsylvania, Regulation, Singapore, Steve Wynn | Comments Off on Massachusetts: Pay the man; Robbing Peter to wager on Paul

Pacquiao impact punchless

Posted on May 29, 2014 by David McKee

April’s gaming numbers from Nevada were received with varying degrees of gloom. Not even a Manny Pacquiao fight could drive up the revenue figures, generally speaking. Baccarat, it goes without saying, was a different story, with 40% more revenue and … Continue reading →

Posted in Boulder Strip, Downtown, Economy, Laughlin, North Las Vegas, The Strip, Tourism, Tribal, Wall Street, Wisconsin | Comments Off on Pacquiao impact punchless

Tug of war in Massachusetts; Lee ousted … again; Gilbert’s Greektown struggle

Posted on May 27, 2014 by David McKee

Each with a casino nearly in the bag, both MGM Resorts International and Wynn Resorts want some legislative concessions from Massachusetts. Mohegan Sun is standing pat. MGM and Wynn want their $85 million licensing fee and a number of related … Continue reading →

Posted in Dan Gilbert, Dan Lee, Detroit, Downtown, Economy, Election, Massachusetts, MGM Mirage, Mohegan Sun, Ohio, Palms, Problem gambling, Regulation, Steve Wynn | Comments Off on Tug of war in Massachusetts; Lee ousted … again; Gilbert’s Greektown struggle

Internet gaming: More light than heat; Fieri in your face

Posted on May 27, 2014 by David McKee

“We are absolutely shocked by the slowness of the market.” Those are the words of 888.com CEO Brian Mattingley, with regard to Internet gambling in New Jersey. How slow is it? So much that 888 is shifting ad dollars from … Continue reading →

Posted in Atlantic City, Boyd Gaming, Dining, Economy, Harrah's, Internet gambling, Marketing, Massachusetts, Mississippi, Politics, Regulation, Sheldon Adelson, The Strip | 1 Comment

Freeman defeated; Caesars renders unto Maryland

Posted on May 21, 2014 by David McKee

In a stunning reversal — and a major victory for Sheldon Adelson — American Gaming Association President Geoff Freeman is ending the lobbying group’s support for Internet gambling. Freeman calls it “an issue that the association cannot lead on,” so the … Continue reading →

Posted in Economy, Geoff Freeman, Harrah's, Internet gambling, Macau, Maryland, Regulation, Sheldon Adelson, Steve Wynn, Taxes, Wall Street | Comments Off on Freeman defeated; Caesars renders unto Maryland

Cuomo’s gamble and other Case Bets

Posted on May 19, 2014 by David McKee

New York Gov. Andrew Cuomo (D, right) promised constituents that casino gambling would “fundamentally change the trajectory of the Catskills.” But will it? Or will his administration cut the promised economic recovery off at the knees by favoring one of five … Continue reading →

Posted in Cannery Casino Resorts, Economy, Foxwoods, Genting, Harrah's, Iowa, Massachusetts, New York, Pennsylvania | Comments Off on Cuomo’s gamble and other Case Bets

Cosmo: Now comes the hard part

Posted on May 19, 2014 by David McKee

Cosmopolitan of Las Vegas CEO John Unwin is crowing in triumph over Blackstone Real Estate Partners VII‘s staggeringly lavish purchase of the megaresort over which he presides. “This marks the beginning of the next chapter for The Cosmopolitan of Las Vegas … Continue reading →

Posted in Boyd Gaming, Cosmopolitan, Economy, Harrah's, James Packer, Japan, Melco Crown Entertainment, MGM Mirage, Penn National, Politics, Regulation, Sheldon Adelson, Steve Wynn, Wall Street | 1 Comment