Category Archives: Economy

Vegas’ December: Better than it looks?

Posted on February 9, 2012 by David McKee

If today’s numbers from the Nevada Gaming Control Board indicate that December was good for business — especially on the Las Vegas Strip (up 4% … 7% if you take baccarat out of the equation) — January ought to have … Continue reading →

Posted in Boulder Strip, Boyd Gaming, Current, Downtown, Economy, Lake Tahoe, Laughlin, Massachusetts, North Las Vegas, Reno, Rhode Island, Sheldon Adelson, Steve Wynn, The Strip, Tourism, Tropicana Entertainment, Wall Street | Comments Off on Vegas’ December: Better than it looks?

Quote of the Day

Posted on February 9, 2012 by David McKee

“Is this the type of company people mean when they say government should be run like a business?” — Las Vegas Review-Journal reader “hermit,” on the subject of Caesars Entertainment‘s IPO.

Posted in Economy, Harrah's, Wall Street | Comments Off on Quote of the Day

China to Cirque: “Pas encore!”

Posted on February 9, 2012 by David McKee

Cirque du Soleil® has laid another oeuf — or Las Vegas Sands has claimed yet another showbiz victim. Its resident show at Venetian Macao, Zaia™, is closing after a 42-month run. Either the touchy-feely, eco-friendly whimsies of Zaia™ were too … Continue reading →

Posted in Cirque du Soleil, CityCenter, Economy, Entertainment, Horseracing, International, Macau, MGM Mirage, Pennsylvania, Sheldon Adelson, The Strip, Tourism | Comments Off on China to Cirque: “Pas encore!”

Adelson does damage control; Caesars IPO Part 2: Boom or bust?

Posted on February 8, 2012 by David McKee

It was “unfortunate” for Sheldon Adelson that he wore the uniform of the United States of America, the country that made him rich? Seriously? Not many of us would use our spouses as human shields. But then again, not many … Continue reading →

Posted in Ameristar, Boyd Gaming, Charity, Cordish Co., Don Barden, Economy, Election, Harrah's, history, Illinois, Indiana, International, Macau, Penn National, Pinnacle Entertainment, Racinos, Sheldon Adelson, Steve Wynn, The Strip, Tropicana Entertainment, Wall Street | Comments Off on Adelson does damage control; Caesars IPO Part 2: Boom or bust?

Singapore surges to all-time highs

Posted on February 7, 2012 by David McKee

Thanks to Marina Bay Sands (left) and Resorts World Sentosa, the city-state of Singapore posted record levels of tourism (13 million souls, a 13% increase) last year. While overall tourism-related revenues leapt 17%, entertainment spending — which of course includes … Continue reading →

Posted in Current, Economy, Genting, International, Regulation, Sheldon Adelson, Singapore, Tourism | Comments Off on Singapore surges to all-time highs

Epic failure in Florida; Epic blowhard in Vegas

Posted on February 3, 2012 by David McKee

Neither the very conspicuous efforts of Genting Berhad and Las Vegas Sands nor the quieter ones of Wynn Resorts and Caesars Entertainment were sufficient to overcome entrenched conservatism in the Florida Legislature. State Rep. Erik Fresen (R) waved the surrender … Continue reading →

Posted in Current, Donald Trump, Economy, Election, Genting, Harrah's, Internet gambling, Isle of Capri, Politics, Racinos, Regulation, Sheldon Adelson, Steve Wynn, The Strip, Tribal | 1 Comment

Donald Trump, drama queen

Posted on February 1, 2012 by David McKee

His Trumpness will manifest himself to the assembled media tomorrow, shortly past noon, at Trump International, just off the Las Vegas Strip. Oooohhh, the excitement! The failed casino operator will make “a major announcement” that’s too major to be announced … Continue reading →

Posted in Current, Donald Trump, Economy, Sheldon Adelson, The Strip | 2 Comments

Station Casinos: In your face

Posted on January 26, 2012 by David McKee

For a company that bridles at negative press coverage, Station Casinos has a genius for provoking it. Case in point: Its increasingly hysteria-tinged campaign toward the Culinary Union. Up until now, it’s been confined to a series of overwrought, unintentionally … Continue reading →

Posted in Culinary Union, Current, Economy, Environment, Harrah's, Marketing, Station Casinos, TV | 2 Comments

Miller Time in Maryland; The sorrows of Marrandino

Posted on January 20, 2012 by David McKee

No question about it, THE gaming-industry story of 2011 was both an economic and political one: How the Great Recession has essentially broken the back of anti-gambling resistance in the corridors of American power. We can see it up and … Continue reading →

Posted in Atlantic City, Boyd Gaming, Cordish Co., Current, Dan Lee, Economy, Entertainment, Harrah's, Louisiana, Maryland, MGM Mirage, Pinnacle Entertainment, Politics, Taxes, Tropicana Entertainment | Comments Off on Miller Time in Maryland; The sorrows of Marrandino

Illinois: They shoot horses, don’t they?; Friday film festival

Posted on January 20, 2012 by David McKee

Score another round for Illinois Gov. Pat Quinn (D): By threatening a drawn-out negotiation process that would put casino expansion hard up against election season — with lawmakers facing the terra incognita of redrawn districts — he may have forced … Continue reading →

Posted in Economy, Election, Environment, Harrah's, Horseracing, Illinois, Internet gambling, Missouri, Ohio, Penn National, Politics, Racinos, Regulation, Rhode Island, Taxes, Tribal | Comments Off on Illinois: They shoot horses, don’t they?; Friday film festival

Florida: How much is too much?; Sheldon Adelson, ventriloquist

Posted on January 20, 2012 by David McKee

Those $2 billion megaresorts mooted for Florida will have a much easier time making their nut if state Rep. Erik Fresen (R, left) holds sway. In an attempt to woo recalcitrant conservatives, Fresen is proposing various restraints on gambling’s growth … Continue reading →

Posted in Economy, Election, Florida, Fontainebleau, Genting, International, Internet gambling, Isle of Capri, Macau, Politics, Racinos, Sheldon Adelson, Tourism | 1 Comment

Aquedud?; Trump, chump

Posted on January 19, 2012 by David McKee

I apologize for feeding you some incorrect info earlier when I erroneously stated that the Philadelphia market lost business (apparently to Atlantic City) last month. Nope, Santa Claus was good to every casino in the Keystone State, although he could … Continue reading →

Posted in Atlantic City, Charity, Current, Donald Trump, Economy, Election, Genting, Harrah's, Jack Binion, Neil Bluhm, New York, Pennsylvania, Sheldon Adelson, Sports, Tribal, TV, Wall Street | Comments Off on Aquedud?; Trump, chump

Meet Virginia McDowell, Part II: Tales of Trump

Posted on January 18, 2012 by David McKee

In terms of turning around Isle’s financial performance, do you feel the full 180 degrees have been achieved yet? We’ve had a couple off different priorities over the last few years, as far as our strategic initiatives. One was to … Continue reading →

Posted in Atlantic City, Boyd Gaming, Donald Trump, Economy, Election, Harrah's, history, Iowa, Isle of Capri, Kentucky, Marketing, Missouri, Tourism, Wall Street | 3 Comments

Meet Virginia McDowell, Part I

Posted on January 13, 2012 by David McKee

What are your plans for Nemacolin Woodlands Resort, in Pennsylvania? We’re still waiting for the appeal process to wind its way through the courts. The original plan called for to build on an existing facility on the Nemacolin property, which … Continue reading →

Posted in Downtown, Economy, Entertainment, Florida, G2E, Iowa, Isle of Capri, Marketing, Missouri, Pennsylvania, Station Casinos, Taxes, Technology, Texas, Tourism, Tribal | 3 Comments

Sheldon Adelson, wuss; MGM pounces; Slipper-y logic; Enter whining

Posted on January 12, 2012 by David McKee

What manner of fool spends $5 million to disseminate a film that he’s never seen and whose content he claims not to endorse? Sheldon Adelson, that’s who. After his latest political favorite got clobbered in the New Hampshire primary, Adelson … Continue reading →

Posted in Alex Yemenidjian, Ameristar, Cordish Co., Dan Lee, Donald Trump, Economy, Election, Harrah's, Iowa, Isle of Capri, Jack Binion, Louisiana, Massachusetts, Mississippi, Movies, Neil Bluhm, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Racinos, Regulation, Sheldon Adelson, Station Casinos, Tourism, Transportation, Tribal, Tropicana Entertainment, TV | Comments Off on Sheldon Adelson, wuss; MGM pounces; Slipper-y logic; Enter whining

Belated Christmas presents, Midwest edition

Posted on January 11, 2012 by David McKee

To quote Stephen Sondheim, everything’s coming up roses … or close enough, anyway. Last Friday, strong numbers out of Iowa — of a non-caucus ilk — showed the state’s casinos rebounding to the tune of 16% (on a $121 million) … Continue reading →

Posted in Ameristar, Boyd Gaming, Cordish Co., Dan Lee, Don Barden, Donald Trump, Economy, Environment, Harrah's, Illinois, Indiana, Iowa, Isle of Capri, Kentucky, MGM Mirage, Missouri, Neil Bluhm, Ohio, Penn National, Pinnacle Entertainment, Racinos, Taxes, Tropicana Entertainment | 1 Comment

Belated Christmas presents, Part II

Posted on January 11, 2012 by David McKee

If the good news keeps raining down like this, I might have to start using the R-word … as in “recovery.” In November, Nevada‘s $880 million gross was good for a 7% upsurge. The Las Vegas Strip beat the statewide … Continue reading →

Posted in Architecture, Boulder Strip, CityCenter, Colony Capital, Current, Detroit, Downtown, Economy, Goldman Sachs, Lake Tahoe, Laughlin, MGM Mirage, North Las Vegas, Reno, Steve Wynn, The Strip, Tourism, Wall Street | 1 Comment

Quote of the Day

Posted on January 11, 2012 by David McKee

“My point is, we should go full speed ahead.” — fiscally reckless Illinois state Rep. Lou Lang, pimping exponential casino expansion. Say, isn’t that what the captain of the R.M.S. Titanic said? Or maybe it was a Japanese kamikaze pilot … Continue reading →

Posted in Economy, Illinois, Politics | 3 Comments

Belated Christmas presents

Posted on January 10, 2012 by David McKee

Good news is busting out all over, starting in the unlikeliest place … Atlantic City. Ye Olde Boardwalk was up 4% last month, its first revenue-positive month in 15 quarters. Even a 10% fall in table drop couldn’t put a … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colony Capital, Current, Dennis Gomes, Donald Trump, Economy, Election, Genting, Harrah's, Horseracing, Illinois, Neil Bluhm, New York, Pennsylvania, Politics, Racinos, Sheldon Adelson, Tilman Fertitta, Tribal, Tropicana Entertainment, Wall Street | 1 Comment

Adelson: Whining our future; The online deluge

Posted on January 9, 2012 by David McKee

Apparently there’s no avoiding what has become the story of the day: Sheldon Adelson‘s $5 million dowry to presidential aspirant Newt Gingrich. It’s a gift that comes with a substantial pre-nup; if Gingrich falters in South Carolina, American Crossroads and … Continue reading →

Posted in Alex Yemenidjian, Atlantic City, Boyd Gaming, Colony Capital, Current, Economy, Election, Florida, George Maloof, Harrah's, Harry Reid, Hooters, International, Internet gambling, Marketing, Massachusetts, MGM Mirage, Pennsylvania, Politics, Regulation, Sheldon Adelson, South Carolina, The Strip, Wall Street | 4 Comments