Category Archives: Economy

Big ‘boing’ in Pennsylvania; Labor strife in Detroit

Posted on October 18, 2011 by David McKee

Casino revenues last month in Pennsylvania must have been riding a pogo stick — up 13% from last year. That includes a 39% moonshot in table revenues. Leaders include Sands Bethlehem (22%, right), while Penn National‘s eponymous racino must be … Continue reading →

Posted in Cannery Casino Resorts, Current, Detroit, Economy, Genting, Harrah's, Indiana, International, Louisiana, MGM Mirage, Neil Bluhm, New York, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Sheldon Adelson, Sports, Taxes | Comments Off on Big ‘boing’ in Pennsylvania; Labor strife in Detroit

NIMBY time in Maine

Posted on October 17, 2011 by David McKee

Having gotten the nod from Maine legislators, a third casino could soon be heading the state’s way. Appropriately enough, it will appear on the ballot as Question Three. Opponent Jim Handy has his shorts in a wad over the location … Continue reading →

Posted in Architecture, Current, Economy, Election, Maine, Massachusetts, Penn National, Politics, Racinos | Comments Off on NIMBY time in Maine

Quote of the Day

Posted on October 17, 2011 by David McKee

“The free market will work over an extended period of time. The question is how long do you let the pain and suffering go on?” — local economist John Restrepo, on the continued failure to address Las Vegas‘ greatest economic … Continue reading →

Posted in Economy | Comments Off on Quote of the Day

The King of Palm Beach

Posted on October 14, 2011 by David McKee

Florida‘s seven struggling, casino-enabled parimutuels could become eight, with the entry of a new player … While the courts have now made it possible for Don King to make an end-run around Palm Beach County voters, if necessary, by taking … Continue reading →

Posted in Current, Economy, Florida, G2E, Harrah's, Isle of Capri, Politics, Racinos, Sheldon Adelson, Steve Wynn, The Strip, Tribal | 2 Comments

Quote of the Day

Posted on October 13, 2011 by David McKee

“You can’t legislate everything in life. People [from Massachusetts] are gaming in Connecticut, Rhode Island, Las Vegas and Atlantic City.” — state Rep. Paul K. Frost (R-Auburn), speaking in support of Massachusetts’ nascent casino industry.

Posted in Atlantic City, Current, Economy, Massachusetts, Politics, The Strip, Tourism | Comments Off on Quote of the Day

Breakthrough in Massachusetts

Posted on October 13, 2011 by David McKee

This just in … the Massachusetts state Senate voted 24-14 to send casino legalization on to a conference committee, where the House’s version — passed with a crushing majority — already reposes. Differences between the two versions, obviously, will have … Continue reading →

Posted in Bally Technologies, Current, Economy, Florida, Genting, Harrah's, Horseracing, IGT, Internet gambling, Movies, Penn National, Pennsylvania, Politics, Racinos, Regulation, Sheldon Adelson, Slot routes, Sports, Steve Wynn, Taxes, Tribal, Wall Street, WMS Industries | Comments Off on Breakthrough in Massachusetts

Quote of the Day

Posted on October 7, 2011 by David McKee

“Tourists come here and think Vegas is fantasy land; they don’t think of us as a working-class city, but we are. They just think we’re here to clean up their vomit after they leave.” — Sannette Gutierrez to a reporter … Continue reading →

Posted in Current, Economy, The Strip, Tourism | 4 Comments

Monopoly over Miami

Posted on October 4, 2011 by David McKee

A recent visitor to Las Vegas from the Pacific Rim told me that Sheldon Adelson has worn out his welcome in Macao (which is on pace to eclipse all other gaming markets combined) and is fast doing so in Singapore. … Continue reading →

Posted in Archon Corp., Current, Economy, Florida, Genting, Harrah's, Internet gambling, Laughlin, Macau, Massachusetts, New York, Pennsylvania, Politics, Racinos, Sheldon Adelson, Singapore, Stanley Ho, Steve Wynn, Taxes, Wall Street | Comments Off on Monopoly over Miami

Quote of the Day

Posted on October 4, 2011 by David McKee

“Ferries don’t come to Macao during a typhoon but they don’t leave either.” — Deutsche Bank gaming analyst Carlo Santarelli, endeavoring to calm investor fears of “a broader slowdown in China” — anxieties that have driven MGM Resorts International, Las … Continue reading →

Posted in Economy, James Packer, Lawrence Ho, Melco Crown Entertainment, MGM Mirage, Sheldon Adelson, Steve Wynn, Wall Street | Comments Off on Quote of the Day

Shakedown at G2E; Riviera quits Colorado, Trump quits humanity

Posted on September 30, 2011 by David McKee

Our beloved casino industry runneth over with individuals, companies and even sovereign nations that have a vested interest in the legalization of Internet poker … and more. Rep. Joe Barton (R-TX, left) knows this, which is why he’s coming to … Continue reading →

Posted in Atlantic City, Colorado, Current, Dennis Gomes, Donald Trump, Economy, Election, G2E, Internet gambling, Marketing, Politics, Regulation, Reno, Riviera, Sheldon Adelson, Steve Wynn, The Strip | Comments Off on Shakedown at G2E; Riviera quits Colorado, Trump quits humanity

Station stirrings

Posted on September 30, 2011 by David McKee

It looks as though Station Casinos and Manhattan-based developer Fisher Bros. are trying to put back together some of the pieces of their Humpty Dumpty megaproject along I-15. As you recall, the duo had acquired a swath of land (assembled … Continue reading →

Posted in Animals, Archon Corp., Current, Economy, Entertainment, MGM Mirage, Station Casinos, The Strip | 1 Comment

The Great Riverboat Robbery revisited; Wynncore Manila?

Posted on September 28, 2011 by David McKee

Under fire for the low property valuations it placed on Pinnacle Entertainment‘s River City and Caesars Entertainment‘s Harrah’s Maryland Heights, the St. Louis County Board of Equalization backpedaled … sorta. They accepted County Assessor Jake Zimmerman‘s increased valuation for soon-to-expand … Continue reading →

Posted in Ameristar, Current, Detroit, Downtown, Economy, G2E, Harrah's, International, Marketing, Missouri, Pinnacle Entertainment, Steve Wynn, Tamares Group, Taxes, Wall Street | Comments Off on The Great Riverboat Robbery revisited; Wynncore Manila?

G2E 2011: No big deal?

Posted on September 27, 2011 by David McKee

I’ve been debating whether or not to give Global Gaming Expo a pass this year and this morning’s dispatch from Deutsche Bank‘s Carlo Santarelli didn’t exactly quicken my pulse. His prediction? A “quiet” G2E, due to slow growth in the … Continue reading →

Posted in CityCenter, Current, Economy, G2E, International, Internet gambling, James Packer, Lawrence Ho, Macau, Marketing, Melco Crown Entertainment, MGM Mirage, Regulation, Sheldon Adelson, Stanley Ho, Steve Wynn, Tourism, Wall Street | Comments Off on G2E 2011: No big deal?

Sheldon Adelson, casino opponent

Posted on September 23, 2011 by David McKee

You read that right: El Bombastico has developed a sudden concern that adding 9,000 slots to Florida‘s existing inventory of 15,000 “will saturate the market with too many games,” in the words of the Miami Herald. In other words, there … Continue reading →

Posted in Architecture, Atlantic City, Colony Capital, Columbia Sussex, Current, Economy, Florida, Genting, Regulation, Singapore, Taxes, Tribal, Tropicana Entertainment | 1 Comment

Coming attractions

Posted on September 22, 2011 by David McKee

Yes, there’s all manner of excitement and intrigue going on in the gaming world — like Las Vegas Sands issuing a dividend to shareholders — but I’ve not had much time for the S&G beat. With everyone at LVA HQ … Continue reading →

Posted in Dining, Downtown, Economy, Entertainment, Harrah's, history, MGM Mirage, Sahara, Sheldon Adelson, Tamares Group, The Strip, Tourism, Wall Street | Comments Off on Coming attractions

Quote of the Day

Posted on September 22, 2011 by David McKee

“But land-based operators, particularly casinos, have one enormous disadvantage: They have all the expenses connected with massive real estate holdings and tens of thousands of employees. Online casinos are cheaper to set up and cost less to maintain, even including … Continue reading →

Posted in Economy, Harrah's, Internet gambling | Comments Off on Quote of the Day

Hotel Hell

Posted on September 19, 2011 by David McKee

Last weekend, my wife and I were subjected treated to what is undoubtedly — without any question — the worst hotel stay of our lives. So-called Affinity Gaming wanted to show off its $8 million retrofit of Primm Valley Resort … Continue reading →

Posted in Carl Icahn, Current, Dining, Economy, Entertainment, Fontainebleau, Herbst Gaming, Station Casinos | 1 Comment

We’re Number One!

Posted on September 19, 2011 by David McKee

Guess which city tops the misery index, according to BusinessInsider.com? Yup, good old Las Vegas, where real estate values have totally cratered and employment isn’t looking so hot, either. Any talk of recovery on the Strip looks somewhat relative when … Continue reading →

Posted in Arizona, California, Detroit, Economy, Florida, Louisiana, Reno, The Strip | 1 Comment

Boardwalk brinkmanship

Posted on September 13, 2011 by David McKee

As the hours tick away toward this week’s expiration of labor agreements at nine Atlantic City casinos, managements are all but daring Culinary Union parent Unite Here to strike. Caesars Entertainment had the brass to declare it was continuing “to … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colony Capital, Culinary Union, Current, Dennis Gomes, Detroit, Economy, Harrah's, International, Internet gambling, Marketing, MGM Mirage, Neil Bluhm, Pennsylvania, Racinos, Regulation | 2 Comments

No trouble in River City; Phasing out Trump

Posted on September 12, 2011 by David McKee

Breaking out of its recent abundance of caution, Pinnacle Entertainment has announced $82 million in upgrades for River City. The expansion will incorporate 1,700 new parking spaces, a hotel tower (200 rooms) and 10,000 square feet of meeting space. Shovels … Continue reading →

Posted in Atlantic City, Current, Donald Trump, Economy, Missouri, Pennsylvania, Pinnacle Entertainment, Regulation, Wall Street | 1 Comment