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Category Archives: Economy
Adelson vacillates; Macao triumphs; Name of infamy
Showing something less than his usual decisiveness, Sheldon Adelson continues to send mixed signals with regard to his intentions in his native Massachusetts. He’s re-upped with Boston-based lobbyist firm Donoghue Barrett & Singal. However, despite years of scouting the market, … Continue reading
Posted in Colony Capital, Current, Economy, Goldman Sachs, Harrah's, Iowa, Macau, Massachusetts, Penn National, Regulation, Sheldon Adelson, The Strip, Wall Street
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Iowa’s biggest loser …
… is Texas. With the presidential aspirations of Gov. Rick Perry (R) tottering on their penultimate leg, that’s very bad news for Lone Star State lawmakers who’d like to pass casinos — or at least racinos — into law. It’s … Continue reading
Posted in California, Current, Economy, Election, Entertainment, Louisiana, MGM Mirage, Oklahoma, Penn National, Racinos, Sahara, Sports, Texas, The Strip, TV
2 Comments
Quote of the Day
“[Erin] Burnett, despite her youth, is a relic of a bygone age. She embodies ’90s ‘market populism,’ to use Thomas Frank’s phrase, now still surviving on our airwaves as a zombie idea. The idea of America as a mass ‘shareholder … Continue reading
Posted in Economy, TV, Wall Street
4 Comments
Pennsylvania gives thanks; Aqueduct, superstar
This has been a terrible fortnight for S&G but, hey, we’ve got some good news from Pennsylvania. Last month’s gambling revenues were reported this morning and they’re up 12%, thanks mostly to the growing popularity of table games. (Atlantic City, … Continue reading
More treat than trick
October’s revenue figures for Nevada emerged today and it was a good month statewide ($961 million, +8%) and a great one for the Las Vegas Strip ($560.5 million, +13%). Mind you, October 1 was a Saturday, meaning that some Sept. … Continue reading
Posted in Boulder Strip, Current, Downtown, Economy, Lake Tahoe, Laughlin, Mesquite, North Las Vegas, Pinnacle Entertainment, Reno, Tamares Group, The Strip, Tourism
1 Comment
Borgata or bust; ‘LVH,’ Jacko & Sinead
First, the good news: Borgata — accounting for more than one-fifth of the entire market share — continues to vastly outpace the rest of the Atlantic City market. Last month, it raked in $50 million for a 2% gain, driven … Continue reading
“Michael Jackson™”: Mortal?
As the reviews trickle in from Saturday night’s Las Vegas premiere of Michael Jackson The IMMORTAL World Tour™ we may be seeing an inversion of the Viva Elvis™ phenomenon. In the latter instance, the out-of-towners raved and local critics yawned. … Continue reading
Posted in Archon Corp., Cirque du Soleil, Current, Economy, Entertainment, MGM Mirage, The Strip
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Casinos in Kentucky … soon?; Tenants to Sands: Let my people go!
Per S&G‘s prediction, Kentucky Gov. Steve Beshear (D) wasted little time after winning reelection before resuming his push for casino legalization. You’d never think that he beat opponent state Senate President David Williams (R) like a drum at the ballot … Continue reading
Posted in Current, Dining, Economy, Election, Entertainment, Kentucky, Pennsylvania, Racinos, Sheldon Adelson, Station Casinos, Taxes, The Strip
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Quote of the Day
“We do find it disconcerting that it seems virtually everyone is on the same side of the fence. The argument seems to center around the fact that Macau did so well during a period of fiscal tightening in China, just … Continue reading
Posted in Economy, Macau, Regulation, Wall Street
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Hooters: What next?; PE fools and their money; Deal or no-Deal in Georgia?
It’s all over for the current administration at Hooters Casino Hotel. They’ve given up trying to fight efforts by Canyon Capital Realty Advisors to have the money-losing property sold via foreclosure auction. If Canpartners wins at auction, it may go … Continue reading
Posted in Colorado, Current, Economy, Election, Florida, Georgia, Golden Gaming, Herbst Gaming, Hooters, Horseracing, Slot routes, Taxes, The Strip, Wall Street
3 Comments
Boyd: Trapped in Florida; Sands muzzled in Singapore; Good vibes in Macao
This is a good time to be in Florida, right? Not if you’re Boyd Gaming and have been trying to unload Dania Jai-alai, souvenir of a half-assed venture into the Sunshine State’s racino market. The company has scrapped an $80 … Continue reading
Posted in Boyd Gaming, Colony Capital, Current, Economy, Genting, Harrah's, Macau, MGM Mirage, Racinos, Regulation, Sheldon Adelson, Singapore, Stanley Ho, Steve Wynn, The Strip, Wall Street
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Sanguine Sands; Genting vs. Islamofascism; Arkansas vs. Missouri
Las Vegas Sands dispatched its international overseer, Rob Goldstein (right) and sidekick Dan Briggs to New York as envoys to Wall Street. As reported by J.P. Morgan‘s Joseph Greff, Sands’ outlook is sanguine, particularly with regard to the Singapore and … Continue reading
Ask Virginia!
Following in the footsteps of Alex Yemenidjian and Anthony Marnell IIII, the CEO of Isle of Capri Casinos, Virginia McDowell, has agreed to take questions from S&G readers early next month. So here’s your shot: Sharpen those pencils and dream … Continue reading
Posted in Colony Capital, Current, Economy, Isle of Capri, Mississippi, Ohio, Penn National
1 Comment
Hold that recovery!
Just when things were looking good … I mean, after many a premature prediction of economic recovery, room-rate trends on the Las Vegas Strip were looking like change in which one could believe. J.P. Morgan projections for the fourth quarter … Continue reading
Posted in Cosmopolitan, Current, Economy, Harrah's, MGM Mirage, Sheldon Adelson, Steve Wynn, The Strip, Tourism
4 Comments
Quote of the Day
“Ah, the Democrat machine. I believe I’ve seen one of those. I don’t know if you know anything about it. From what I understand, it costs billions of dollars, runs on solar energy and turns hope into disappointment.” — Jon … Continue reading
Atlantic City: Fertitta struggling, Gomes triumphing, Boyd steady
No surprise that Borgata remains in a class by itself among Atlantic City resorts. It finished October at 0.0% deviance from last year, as flat as “flat” can be. The lone gainer in the market was Resorts Atlantic City, up … Continue reading
Quote of the Day
“The era of government-granted casino monopolies is over. Many of our markets are now oversaturated with commercial and tribal casinos. In some states, licenses are even being left untaken. The era of limitless capital is over. Between huge commercial casino … Continue reading
Posted in Economy, G2E, Harrah's, Regulation, Tribal, Wall Street
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Rule or ruin in Illinois; A new deal in Detroit
State Rep. Lou “Death Wish” Lang (D, right) continues to dare, then double-dare Gov. Pat Quinn (D) to veto what’s now a 2.6X expansion of the number of gambling positions in the state of Illinois. Lang has offered a few … Continue reading
Posted in Boyd Gaming, CityCenter, Current, Dan Lee, Detroit, Economy, Harrah's, history, Illinois, Indiana, International, Iowa, Louisiana, MGM Mirage, Mississippi, Missouri, Neil Bluhm, Penn National, Politics, Racinos, Reno, Slot routes, The Strip, Wall Street
3 Comments
Sahara 2.0: Nazarian gets real
Chuck Monster had this right on the money: He called Sahara owner Sam Nazarian‘s bluff over and over and over again on the latter’s luxury-megaresort predictions for the aging, shuttered property. Today, the Clark County Commission took the wraps off … Continue reading
Posted in Boyd Gaming, Carl Icahn, Current, Economy, Fontainebleau, Goldman Sachs, Harrah's, Marketing, MGM Mirage, Riviera, Sahara, The Strip, Tourism, Wall Street
5 Comments