Category Archives: Economy

Gaming is on the march

Posted on September 9, 2011 by David McKee

Add Kentucky to the states that have casino-style gambling, at least temporarily. Owners of Kentucky Downs found a loophole in Bluegrass State law and galloped through it. “Instant Racing” is the sort of VLT game you might find at a … Continue reading →

Posted in Cannery Casino Resorts, Current, Economy, Election, Genting, Harrah's, Horseracing, Isle of Capri, Kentucky, Louisiana, Maine, Massachusetts, New York, Ohio, Penn National, Politics, Racinos, Regulation, Taxes, The Strip, Tourism, Transportation, Tribal, Warner Gaming | 6 Comments

Irene, you jezebel!

Posted on September 9, 2011 by David McKee

“You come, you stay, you go/It really doesn’t matter/You’ve done it all before/By now they’ll know the pattern.” — ABBA OK, so Benny & Bjorn were writing about a gal named Elaine not a hurricane called Irene. Although the storm … Continue reading →

Posted in Atlantic City, Current, Donald Trump, Economy, Environment, Harrah's, Macau, Neil Bluhm, Pennsylvania, Racinos, Sheldon Adelson, Tourism, Tribal, Tropicana Entertainment, Wall Street | Comments Off on Irene, you jezebel!

Consolation prize

Posted on September 8, 2011 by David McKee

Congratulations to Caesars Entertainment. Its Canadian flagship, Caesars Windsor, was voted best “Detroit area” casino by readers of Casino Player magazine for the 11th year running, as well as snagging 10 other awards. Now, if only Caesars could monetize that. … Continue reading →

Posted in Current, Detroit, Economy, Harrah's, International, Regulation | 5 Comments

After the deluge

Posted on September 6, 2011 by David McKee

Although it cost casino owners a couple of days’ business, the remnants of Tropical Storm Lee inflicted scarcely any damage compared to Hurricane Katrina. (Safety measures taken in post-Katrina years helped.) Since the Louisiana casino market has been in an … Continue reading →

Posted in Current, Economy, Environment, Louisiana, MGM Mirage, Mississippi, Tourism, Transportation | 1 Comment

I’m shocked, shocked!

Posted on August 30, 2011 by David McKee

… to discover that there is gambling in this establishment. Of 38 video clips on Cosmopolitan of Las Vegas‘ You Tube channel, not one is devoted to the casino floor. Geez, you think this “hide the gaming” marketing approach might … Continue reading →

Posted in Economy, Entertainment, Marketing, Movies, The Strip, TV | 5 Comments

Quote of the Day

Posted on August 30, 2011 by David McKee

“We have a waiting list of 2,000 names. So we are moving ahead with a second tower which will have a 35 percent price increase.” — Donald Trump, at the July 12, 2005 groundbreaking for Trump International. Needless to say, … Continue reading →

Posted in Donald Trump, Economy, history, Phil Ruffin, The Strip | 3 Comments

Caruso sings, Lerner hallucinates

Posted on August 29, 2011 by David McKee

Since I had one foot out the door en route to Albany when Caesars Entertainment held its Rick Caruso-led media blitz on Project Linq, I’m a bit late to the party. Some of my early reactions can be heard on … Continue reading →

Posted in Architecture, Boyd Gaming, Carl Icahn, CityCenter, Colony Capital, Current, Dining, Downtown, Economy, Entertainment, Fontainebleau, Harrah's, MGM Mirage, Sahara, Station Casinos, The Strip, Tourism, Transportation, Wall Street | 3 Comments

Atlantic City: The morning after

Posted on August 28, 2011 by David McKee

Damage from Hurricane Irene wasn’t as bad as feared in Atlantic City, although it ripped up beach facilities pretty good. Casinos were even able to maintain power through the wee hours of Sunday morning. Borgata‘s Water Club tower sustained some … Continue reading →

Posted in Atlantic City, Boyd Gaming, Current, Economy, Environment, Tilman Fertitta, Transportation | Comments Off on Atlantic City: The morning after

“Is gaming recession-proof?” Seriously.

Posted on August 25, 2011 by David McKee

Before you snicker at CNBC, it’s asking the question in the context of Asia (read: China), where recessionary issues are not (yet?) the concern that they are in the United States. The across-the-Pacific reach of Genting Bhd, an emerging power … Continue reading →

Posted in Current, Economy, Genting, International, Macau, Singapore | Comments Off on “Is gaming recession-proof?” Seriously.

Thaw in Massachusetts? Hilton has left the building

Posted on August 25, 2011 by David McKee

After screwing the pooch in the previous legislature, it looks as though Gov. Deval Patrick (D-MA) and state lawmakers are finally on the same page regarding casino expansion in the Bay State. Analyst Joseph Greff rates the solons’ chances of … Continue reading →

Posted in Atlantic City, Bally Technologies, Colony Capital, Current, Economy, Genting, Horseracing, IGT, Isle of Capri, Kansas, Marketing, Maryland, Pennsylvania, Politics, Racinos, Regulation, Singapore, Taxes, The Strip, Tourism, Tribal, Wall Street, Warner Gaming, WMS Industries | 2 Comments

Taking back (Harrah’s) America

Posted on August 16, 2011 by David McKee

Ever-vigilant in his watch over “The Borg” (aka Caesars Entertainment), Vegas Tripping author Chuck Monster has been keeping a gimlet eye on the revival of Project Linq. Granted access to internal Caesars documents, Mr. Monster reveals that the much-needed makeover … Continue reading →

Posted in Architecture, Atlantic City, CityCenter, Current, Economy, Harrah's, International, Sports, Steve Wynn, Taxes, Wall Street | 8 Comments

Anyone remember the Gold Standard?

Posted on August 16, 2011 by David McKee

In 50 years, I’ve managed to outlive a number of institutions, ranging from the Berlin Wall to the Gold Standard. Some news outlets are commemorating the occasion, including The Alyona Show, which seems to be the libertarian equivalent to Countdown … Continue reading →

Posted in Current, Economy, Election, International, Politics, TV | Comments Off on Anyone remember the Gold Standard?

Case Bets: Station, Isle, Cosmo, Loveman & the horsey set

Posted on August 16, 2011 by David McKee

Revenue growth accelerated at Station Casinos in 2Q11, with cash flow up 8.5% (compared to +4% for the year so far). Keeping room rates steady at an average of $71 appears to have boosted occupancy, up from 81% to an … Continue reading →

Posted in Ameristar, Cosmopolitan, Current, Dining, Economy, Entertainment, Harrah's, Horseracing, Internet gambling, Isle of Capri, Marketing, Missouri, Penn National, Pokergeddon, Politics, Racinos, The Strip | 1 Comment

Hilton: worse than it looks

Posted on August 12, 2011 by David McKee

In the cold light of day (i.e., Chris Sieroty‘s Review-Journal coverage), the situation at the Las Vegas Hilton appears still more dire … if such a thing is possible. Remember that roughly a third of the LVH is owned by … Continue reading →

Posted in Atlantic City, Carl Icahn, Colony Capital, Economy, Goldman Sachs, Lake Tahoe, Laughlin, The Strip, Tropicana Entertainment, Wall Street | 2 Comments

Colony craps out again

Posted on August 10, 2011 by David McKee

Gaming’s Mr. Magoo, the disaster-prone CEO of Colony Capital, Tom Barrack has done it again. The Las Vegas Hilton has defaulted on one of its loans (again), a too-familiar revelation where a Colony-owned property is concerned. Although it lost $1 … Continue reading →

Posted in Colony Capital, Cretins, Current, Dining, Economy, Entertainment, Goldman Sachs, The Strip, Wall Street | 1 Comment

Elvis & Eva have left the building

Posted on August 10, 2011 by David McKee

Two axes fell upon CityCenter in one day. It’s tough to decide which is more newsworthy. I’ll go with the Beso story because it has a not-so-hidden upside. Golden Nugget CEO Tilman Fertitta is feeling sufficiently bullish to plant his … Continue reading →

Posted in Cirque du Soleil, CityCenter, Columbia Sussex, Current, Dining, Economy, Entertainment, International, Marketing, Massachusetts, Texas, The Strip, Tilman Fertitta, Tourism | 1 Comment

Debt: the final frontier

Posted on August 9, 2011 by David McKee

As a total addict of Space: 1999, I couldn’t let this pass without sharing it. To those not familiar with Gerry Anderson‘s highly idiosyncratic

Posted in Current, Economy, TV | 1 Comment

Boob job

Posted on August 5, 2011 by David McKee

Bankrupt, 38-year-old Hooters Hotel got a two-month reprieve yesterday, as owners obtained a judge’s permission to keep spending creditors’ monies to keep the place open for an additional two months. That will at least give employees time to update their … Continue reading →

Posted in Alex Yemenidjian, Architecture, Columbia Sussex, Current, Dining, Economy, Entertainment, Harrah's, history, Hooters, IGT, Macau, Marketing, MGM Mirage, Regulation, Riviera, Sahara, Sheldon Adelson, Steve Wynn, The Mob, The Strip, Tourism, Wall Street | 7 Comments

Quote of the Day

Posted on August 5, 2011 by David McKee

“Put another way, in a month in which Washington intentionally concocted a crisis designed to foment uncertainty and paralysis, companies added about 38,500 jobs per week.” — Yahoo Finance Economics Editor Daniel Gross on yesterday’s job numbers and

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

Vegas’ recovery? D.O.A.

Posted on August 2, 2011 by David McKee

In the wake of last weekend’s Grand Capitulation on the banks of Foggy Bottom (I’ll let you decide who capitulated to whom), the incipient Las Vegas recovery that was materializing in late 2011 is probably as good as dead. Even … Continue reading →

Posted in Current, Donald Trump, Economy, history, International, Macau, Sheldon Adelson, Steve Wynn, Taxes, The Strip, Tourism, Wall Street | 8 Comments