Category Archives: Economy

Save the whales; Boffo contract in Wisconsin

Posted on March 28, 2014 by David McKee

824 grand. That’s how much online poker revenue Nevada generated in February, the first month in which it has reported such numbers. (Sheldon Adelson‘s fear of Internet poker is like an elephant cowering before a mouse.) Since online play went … Continue reading →

Posted in Boulder Strip, Downtown, Economy, Foxwoods, Internet gambling, Lake Tahoe, Laughlin, Massachusetts, MGM Mirage, North Las Vegas, Sheldon Adelson, Steve Wynn, Tribal, Wall Street, Wisconsin | Comments Off on Save the whales; Boffo contract in Wisconsin

Quote of the Day

Posted on March 28, 2014 by David McKee

“We did not know what to expect, so every penny is a nice surprise. We did not have to fill out 50 forms to get it or hire any new staff members to keep it – it came with no … Continue reading →

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

No cause for jubilation; Cool spring at IGT

Posted on March 26, 2014 by David McKee

Audience feedback on the revamped, urbanized Jubilee! is starting to pour in … and it’s devastating. How bad can it be, I hear you say? Try this: “Like trying to save the Hindenburg with a bicycle pump … hands-down the … Continue reading →

Posted in Don Barden, Economy, Entertainment, Harrah's, IGT, Missouri, The Strip, Wall Street | 2 Comments

Strange Bedfellows Dept.

Posted on March 24, 2014 by David McKee

It’s hard to know what to make of this. The Republican Jewish Coalition is coming to Las Vegas and its headliner is Jeb Bush. Now, if there is anyone more anti-gambling in the GOP than Jeb, you’d be hard-pressed to … Continue reading →

Posted in Atlantic City, Economy, Election, Florida, Internet gambling, Ohio, Politics, Regulation, Sheldon Adelson, Tourism, Wisconsin | Comments Off on Strange Bedfellows Dept.

Meet Derek Stevens

Posted on March 18, 2014 by David McKee
Posted in Architecture, Derek Stevens, Downtown, Economy, Marketing | Comments Off on Meet Derek Stevens

New York’s challenge; History repeats itself as farce

Posted on March 13, 2014 by David McKee

Wasting no time, the New York State Gaming Commission appointed three experienced public servants to the Resort Gaming Facility Location Board and gave them a June deadline to accept bids. That’s light speed compared to Massachusetts. It also overshadowed something … Continue reading →

Posted in Architecture, Boyd Gaming, Economy, International, New Hampshire, New York, Racinos, Tilman Fertitta, Tribal, Trump Entertainment Resorts, Wisconsin | Comments Off on New York’s challenge; History repeats itself as farce

Nose candy at Mandalay Bay; Remembering Gaughan

Posted on March 13, 2014 by David McKee

It’s a measure of how lucrative nightclubs are that casino companies are willing to run the attendant risks. (Put another way, by contrast to nightclubs, casinos look as staid as banks.) Case in point, MGM Resorts International‘s half-million-dollar settlement with … Continue reading →

Posted in Downtown, Economy, Foxwoods, Internet gambling, Massachusetts, MGM Mirage, Problem gambling, Regulation, Station Casinos, The Strip, Trump Entertainment Resorts | Comments Off on Nose candy at Mandalay Bay; Remembering Gaughan

Realism in Iowa, depression in Illinois, paradox in Ohio

Posted on March 7, 2014 by David McKee

“The problem is Iowa is not a free-market system It’s set up to encourage big-dollar investments, so the cannibalization issue is one we have to take into consideration.” — Iowa Racing & Gaming Commission Chairman Jeff Lamberti There you have … Continue reading →

Posted in Animals, Boyd Gaming, Economy, Harrah's, Illinois, Iowa, Isle of Capri, MGM Mirage, Neil Bluhm, Ohio, Penn National, Pinnacle Entertainment, Regulation | Comments Off on Realism in Iowa, depression in Illinois, paradox in Ohio

Genting’s dog-and-pony show; Ohio, Year One

Posted on March 4, 2014 by David McKee

Back when it was still Echelon, the axiom about the skeleton on the North Strip was that no one would start building anything nearby until Boyd Gaming resumed work. Perhaps the industry got tired of waiting. SLS Las Vegas, which … Continue reading →

Posted in Boyd Gaming, Economy, Genting, Harrah's, Ohio, Regulation, Sam Nazarian, The Strip | Comments Off on Genting’s dog-and-pony show; Ohio, Year One

Quote of the Day

Posted on February 28, 2014 by David McKee

“It’s our opinion that the expansion of regional gaming, whether by commercial or Native American providers, is growing at an increasing and unsustainable pace. We draw a parallel in the growth in regional gaming over the prior five to 10 … Continue reading →

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

Revere: Mohegan Sun rising in the east; Dose of reality in New Jersey

Posted on February 26, 2014 by David McKee

Election results are in from Revere, where Suffolk Downs and Mohegan Sun are partnering to build a racino. It wasn’t even close. Casino opponents were heavily outspent and, in the end, heavily outvoted, being crushed in a landslide, 63% to … Continue reading →

Posted in Atlantic City, Cordish Co., Current, Economy, Election, Greenwood Racing, Internet gambling, Massachusetts, Mohegan Sun, Penn National, Taxes, Tribal | Comments Off on Revere: Mohegan Sun rising in the east; Dose of reality in New Jersey

Nugget strikes gold; Hailing Caesars

Posted on February 25, 2014 by David McKee

One casino’s misery is another’s good fortune. The Golden Nugget in Atlantic City says it’s being swamped with new business ever since Caesars Entertainment and Tropicana Entertainment conspired to the euthanize the Atlantic Club. According to General Manager Tom Pohlman, … Continue reading →

Posted in Architecture, Atlantic City, Cordish Co., Delaware, Downtown, Economy, Harrah's, Internet gambling, Maryland, MGM Mirage, Taxes, The Strip, Tilman Fertitta, Tropicana Entertainment | 1 Comment

Wild, wild East

Posted on February 24, 2014 by David McKee

In the absence of a strong regulatory apparatus, Maryland Live, at Arundel Mills, is taking matters into its own hands. A 200-strong security force and a Batcave of surveillance technology search for the slightest nuance of untoward conduct. “A number of … Continue reading →

Posted in Atlantic City, Cordish Co., Economy, Japan, Maryland, Sheldon Adelson, Technology | Comments Off on Wild, wild East

Hey, big spenders

Posted on February 21, 2014 by David McKee

MGM Resorts International has only just handing in its plans for National Harbor, near Washington, D.C., and already the tin cups are rattling. The project doesn’t sound half-fancy: “a 300-suite glass-tower hotel, 3,600 slot machines, 140 gaming tables, a concert … Continue reading →

Posted in Economy, Maryland, Massachusetts, MGM Mirage, Regulation | Comments Off on Hey, big spenders

A vote for Leominster; Lopsided race at Suffolk Downs

Posted on February 20, 2014 by David McKee

Describing Leominster as “highly self-contained,” Innovation Group has recommended it for Massachusetts‘ lone slot license. While it may have been independently commissioned by the North Central Massachusetts Chamber of Commerce, the contents of the study will be music to the ears … Continue reading →

Posted in Cordish Co., Economy, Election, Greenwood Racing, Massachusetts, Mohegan Sun, Penn National | 1 Comment

MGM impresses Wall Street

Posted on February 19, 2014 by David McKee

MGM Resorts International didn’t meet Wall Street‘s consensus for the last quarter of 2013, losing eight cents a share instead of earning $0.07 EPS. But analysts were in a forgiving mood. After all, the company had lost $2.50 a share just … Continue reading →

Posted in Atlantic City, CityCenter, Economy, Japan, Maryland, Massachusetts, MGM Mirage, The Strip, Wall Street | Comments Off on MGM impresses Wall Street

Quote of the Day

Posted on February 13, 2014 by David McKee

“At the end of the day, they are the true job creators.” — entrepreneur Nick Hanauer on poor and middle-class Americans.

Posted in Economy | Comments Off on Quote of the Day

Time running for Atlantic City; Adelson’s scurrility

Posted on February 12, 2014 by David McKee

After a quarterly hiatus, it seems time to start covering Atlantic City again. The headline item is a $9.5 million gross from Internet gambling. At that rate, online gambling isn’t going to be a game-changer and, indeed, the Boardwalk was … Continue reading →

Posted in Boyd Gaming, Current, Economy, Harrah's, Internet gambling, Mohegan Sun, Penn National, Sheldon Adelson, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts | 2 Comments

Penn, Parx fold in Maryland; Home rule in N.Y.?

Posted on February 5, 2014 by David McKee

In a rare moment of grace, Penn National Gaming agreed not to sue Prince George’s County over the award of a Maryland casino project to MGM Resorts International. (As expected, Greenwood Racing also signed away its prerogative to litigate.) Perhaps … Continue reading →

Posted in Cantor Gaming, Economy, Greenwood Racing, Macau, Maryland, MGM Mirage, New Hampshire, New York, Penn National, Problem gambling, Regulation, Sports | Comments Off on Penn, Parx fold in Maryland; Home rule in N.Y.?

Sheldon Adelson vs. the world

Posted on February 5, 2014 by David McKee

A fissure has opened within Big Gaming. Sheldon Adelson‘s efforts to push anti-Internet-casino legislation will be officially opposed by an industry lobby that includes MGM Resorts International. Both MGM and the American Gaming Association are constituents of the Coalition for Consumer … Continue reading →

Posted in Economy, Election, Florida, Genting, Internet gambling, MGM Mirage, Politics, Sheldon Adelson, Tribal | Comments Off on Sheldon Adelson vs. the world