Category Archives: Economy

Choo-Choo to Infinity … and beyond!

Posted on August 1, 2012 by David McKee

Our favorite welfare queen, Xpress West (née Desert Xpress) isn’t letting its plans be constrained by anything so mundane as reality. Original pitchman Sig “The Fixer” Rogich has crawled off into the underbrush somewhere but his Choo-Choo-to-Nowhere has found additional … Continue reading →

Posted in Arizona, California, Colorado, Economy, Harrah's, Harry Reid, Regulation, Taxes, The Strip, Tourism, Transportation | 5 Comments

Starship to Victorville … and sundry curiosities

Posted on July 11, 2012 by David McKee

No, I don’t know who Cobra Starship is but their “#1Nite” (yes, that’s how they spell it) is the sort of bubble-gum pop that ought to stick to the top of the charts. It’s another entry in that can’t-fail music-video … Continue reading →

Posted in Arizona, California, Dining, Downtown, Economy, Entertainment, Harrah's, Harry Reid, MGM Mirage, The Strip, Tourism, Transportation, TV | Comments Off on Starship to Victorville … and sundry curiosities

The wreck of the Sierra Rose; LVH: The smell of death; TWU (sur)renders unto Caesars

Posted on July 11, 2012 by David McKee

It was inevitable that this Lake Tahoe marine disaster would go viral. Besides, as an S&G reader astutely pointed out, the sinking of the Sierra Rose makes a tidy metaphor for Nevada‘s economy: a top-heavy S.S. McMansion now half-underwater due … Continue reading →

Posted in Atlantic City, Colony Capital, Detroit, Economy, Entertainment, Fontainebleau, Goldman Sachs, Harrah's, Hooters, Lake Tahoe, Riviera, Steve Wynn, The Strip, Wall Street | 3 Comments

“He’s just a stooge”

Posted on June 20, 2012 by David McKee

While I’m still on semi-hiatus, working on travel guides for USA Today (the Downtown one got submitted last night), here’s a reminder that when Caesars Entertainment persuades — “coerces” might be more like it — its lenders into writing off … Continue reading →

Posted in Baseball, California, Economy, Harrah's, history, Internet gambling, Ohio, Tourism, Wall Street | 3 Comments

Trump’s greatest accomplishment

Posted on June 15, 2012 by David McKee

While we can’t blame — much as we might like — the downfall of Atlantic City on Donald Trump, if one individual contributed to its precipitous decline more than any other, it was the guy with the orange combover. Seriously, … Continue reading →

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

Yanqui, go home!

Posted on June 11, 2012 by David McKee

Spain‘s banking system has joined a series of toppling dominoes that will likely prompt multiple, TARP-like measures and have the European Union mulling methods of preventing a run on the banks. Into this atmosphere of imminent catastrophe and 24% unemployment … Continue reading →

Posted in Donald Trump, Economy, Environment, Florida, International, Macau, New York, Sheldon Adelson, Singapore, Tourism | 1 Comment

Casino John rides again; Mashpee ride to victory

Posted on June 10, 2012 by David McKee

As is my habit, I tuned in CNN‘s Your Money yesterday. No sooner was the TV on but there was Gov. John Kasich (R), taking justifiable pride in Ohio‘s having recently added 73,300 jobs. The inescapable irony — and fact … Continue reading →

Posted in Ameristar, Current, Economy, Harrah's, MGM Mirage, Ohio, Penn National, Pennsylvania, Regulation, Sheldon Adelson, Sports, Steve Wynn, Tribal, TV | 4 Comments

Toronto: Move over, Jim and Gary, here comes Sheldon

Posted on June 8, 2012 by David McKee

No disrespect to Steve Wynn, but the human starter gun for any serious casino race is now Sheldon Adelson. Except for China, he’s not been in any casino-expansion movement for the long haul since he lost Mirage Resorts. And with … Continue reading →

Posted in Atlantic City, Current, Economy, Florida, Harrah's, Horseracing, International, Macau, MGM Mirage, New York, Racinos, Regulation, Revel, Sheldon Adelson, Steve Wynn, Texas, Tourism | 3 Comments

Atlas stumbled

Posted on June 7, 2012 by David McKee

Warren Buffett likes to say that we’ve already had class warfare in this country and his class won. Whilst laid up, recuperating from an ill-advised meal at Mizumi, I had reason to ponder this in connection with the recent stateside … Continue reading →

Posted in Archon Corp., Bally Technologies, Culinary Union, Current, Dining, Economy, Election, Internet gambling, Massachusetts, New York, Pennsylvania, Problem gambling, Sheldon Adelson, Steve Wynn, The Strip, Wall Street | 7 Comments

Bail, Caesar!

Posted on June 5, 2012 by David McKee

“I don’t like Caesars [Entertainment] because of its high leverage – the company has $21.2 billion in net debt and $1.7 billion per year of interest obligations. To manage cost, Caesar [sic] has reduced marketing and operating costs and limited … Continue reading →

Posted in Current, Economy, Harrah's, The Strip, Wall Street | 1 Comment

Macao: “This is decent”; Massachusetts slams door behind Adelson

Posted on June 1, 2012 by David McKee

Macao casino revenue grew ‘only’ 7% last month, which is bad … if you were thinking monthly, large double-digit increases (21% over the past five months) were a sustainable norm. “This is decent,” J.P. Morgan analyst Joseph Greff said of … Continue reading →

Posted in Ameristar, CityCenter, Current, Economy, Election, Harrah's, International, Macau, Marketing, Massachusetts, Melco Crown Entertainment, MGM Mirage, New York, Penn National, Pennsylvania, Regulation, Sheldon Adelson, Stanley Ho, Steve Wynn, Tribal, Wall Street | Comments Off on Macao: “This is decent”; Massachusetts slams door behind Adelson

Loveman heir abdicates; VLTs hit Ohio tomorrow; Wayne’s World II

Posted on May 31, 2012 by David McKee

Shares of Caesars Entertainment sank today on the news that CFO Jonathan Halkyard has quit, taking an equivalent position at NV Energy. Although the latter’s financial outlook is far rosier, with scant long-term debt, its revenue base ($611 million last … Continue reading →

Posted in Atlantic City, Boyd Gaming, Dan Gilbert, Economy, Harrah's, history, Iowa, Louisiana, Massachusetts, MGM Mirage, Mississippi, Ohio, Penn National, Pinnacle Entertainment, Politics, Racinos, Tilman Fertitta, Tourism, Tribal, Wall Street, Wayne F. Newton | Comments Off on Loveman heir abdicates; VLTs hit Ohio tomorrow; Wayne’s World II

Another quiet evening on the Strip; Big noise in Atlantic City

Posted on May 31, 2012 by David McKee

You might call it “UFC Smackdown”: Police were summoned to Wynncore in the pre-dawn hours of last Saturday to break up the proverbial “domestic disturbance.” Former Playboy model and current UFC ring girl Arianny Celeste (née Arianna Lopez) and boyfriend … Continue reading →

Posted in Atlantic City, Current, Dennis Gomes, Economy, Entertainment, Revel, Sports, Station Casinos, Steve Wynn, The Strip, Tourism | 2 Comments

Quote of the Day

Posted on May 31, 2012 by David McKee

“There aren’t any new customers out there. Gaming is an aged community … Anyone who has ever wanted to try a casino has tried a casino.” — veteran casino consultant Mike Meczka, expressing sentiments that will depress the s**t out … Continue reading →

Posted in Economy, Internet gambling, Marketing | 1 Comment

Beyoncé 1, Revel 0.5; Meet Harrah’s Philadelphia; Riviera realities

Posted on May 29, 2012 by David McKee

So the big, official, grand, this-time-we-really-mean-it opening of Revel Resort & Casino came and went … and all the media has been talking about is Beyoncé and how bootylicious she looks so soon after giving birth. (Seven-plus pages of YouTube … Continue reading →

Posted in Atlantic City, Boyd Gaming, Cosmopolitan, Current, Economy, Entertainment, Fontainebleau, Harrah's, Marketing, Neil Bluhm, Pennsylvania, Racinos, Revel, Riviera, Sahara, The Strip, Tourism | 5 Comments

Quote of the Day

Posted on May 24, 2012 by David McKee

“[C]oming through the back door, a two-headed monster of slot machines and mega-jackpots, both online, a monster … may completely overtake the conventional gaming industry. The lotteries, without any additional legislation or oversight, can offer, online, both slots and other … Continue reading →

Posted in Economy, Internet gambling, Regulation, Technology | 2 Comments

Case Bets: Sands, Caesars, Boyd, MGM & Wynn

Posted on May 24, 2012 by David McKee

After blowing a half-million dollars on lobbying in Massachusetts, cantankerous casino owner Sheldon Adelson took his ball and went home, as reported earlier. Las Vegas Sands‘ rather weak excuse: “[Boston] didn’t synch up with our business model.” Sands fails to … Continue reading →

Posted in Boyd Gaming, Columbia Sussex, Current, Economy, Horseracing, International, Louisiana, Macau, Marketing, Maryland, Massachusetts, MGM Mirage, Missouri, New York, Pennsylvania, Racinos, Regulation, Sheldon Adelson, Steve Wynn, The Strip, Wall Street | 1 Comment

Quote of the Day

Posted on May 21, 2012 by David McKee

“‘Eleven, the Hard Way’ (1961), about a small town that sends a gambler [Walter Matthau] to Reno to try to win it a return to prosperity after the local mine goes bust, seems like a metaphor for all those states … Continue reading →

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

Boyd takes Peninsula, punts Echelon (again)

Posted on May 17, 2012 by David McKee

Ever since a highly quixotic and even nonsensical attempt to take over most of Station Casinos, the cards have been played very, very close to the vest at Boyd Gaming. However, like another second-tier major, Ameristar Casinos, it’s showing renewed … Continue reading →

Posted in Ameristar, Boyd Gaming, Columbia Sussex, Current, Economy, Harrah's, Iowa, Kansas, Louisiana, MGM Mirage, Mississippi, Pinnacle Entertainment, Racinos, Station Casinos, The Strip, Wall Street | 1 Comment

Tropicana Toronto? CityCentre? Horseshoe Etobicoke?

Posted on May 16, 2012 by David McKee

There’s a dark horse in the race for a Toronto megaresort … very dark. It’s Onex Corp., known to you and me as the owner of the Tropicana Las Vegas. Onex subsidiary Casino ABS owns four of the largest casinos … Continue reading →

Posted in Alex Yemenidjian, Current, Economy, Election, Harrah's, Horseracing, International, Kansas, Macau, Maryland, MGM Mirage, Midnight Jim Gibbons, Racinos, Sheldon Adelson, Singapore, Steve Wynn, Taxes, Tourism, Wall Street | Comments Off on Tropicana Toronto? CityCentre? Horseshoe Etobicoke?