Category Archives: Economy

Quote of the Day

Posted on August 1, 2011 by David McKee

“Hey, everyone, I’ve decided that I’m not going to come to your house tonight and burn it down! Isn’t that ‘reasonable’ of me?” — Jason Linkins on the spin-doctoring of last weekend’s deficit deal.

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

Gorging at the trough

Posted on July 29, 2011 by David McKee

How do you turn a $100 million savings into a $92 million one? Leave it to Caesars Entertainment CEO Gary Loveman, that’s how. If you’ve noticed that the food quality at The Rio‘s Carnival World Buffet has declined (the “New … Continue reading →

Posted in CityCenter, Current, Dining, Economy, Entertainment, Harrah's, MGM Mirage, Sports, The Strip, Tourism, Wall Street | 2 Comments

Whine and cheese

Posted on July 25, 2011 by David McKee

Steve Wynn‘s desperate cry for attention got him back onto cable news … if perhaps not with the degree of sympathy for which he hoped. I saw this segment yesterday while on the treadmill and thought I’d pass it along … Continue reading →

Posted in Economy, Steve Wynn, Taxes, TV, Wall Street | 1 Comment

Quote of the Day

Posted on July 22, 2011 by David McKee

“Steve Wynn‘s hatred of the president is just an old man getting back at his ex-wife.” — former (?) Progressive Leadership Alliance of Nevada Communications Director Launce Rake.

Posted in Current, Economy, Steve Wynn, The Strip | 1 Comment

Lost: Steve Wynn’s marbles

Posted on July 21, 2011 by David McKee

Oh Christ, Steve Wynn, grow up already. Busy Wall Street analysts were held hostage to a 433-word talk-radio tirade while they were probably itching to write up quarterly earnings reports. When other CEOs might have been bragging on an “amazing … Continue reading →

Posted in Alabama, Boyd Gaming, California, Carl Icahn, CityCenter, Economy, Florida, Fontainebleau, Harrah's, James Packer, Lawrence Ho, Macau, Massachusetts, Melco Crown Entertainment, MGM Mirage, Politics, Regulation, Sheldon Adelson, Steve Wynn, Taxes, Texas, The Strip, Tourism | 5 Comments

Quote of the Day

Posted on July 20, 2011 by David McKee

“The hotel industry in Nevada, when it was the Lone Ranger, which it no longer is, it’s all over the world—it was selling, ‘Come here for excitement, for great entertainment, for great food, for great shopping.’ Anything to sell tourism—that … Continue reading →

Posted in Downtown, Economy, Election, Oscar Goodman, Tourism | Comments Off on Quote of the Day

Dog Days, explained

Posted on July 19, 2011 by David McKee

Visit msnbc.com for breaking news, world news, and news about the economy As reported yesterday, July-September room rates for the Las Vegas Strip are looking soft (which is bound to degrade off-Strip ADRs, obviously). One possible explanation was, indirectly, floated … Continue reading →

Posted in Boyd Gaming, Cosmopolitan, Economy, The Strip | Comments Off on Dog Days, explained

Quote of the Day

Posted on July 19, 2011 by David McKee

“I think we’re going to have a very difficult ’08 in our business.” — the late J. Terrence Lanni, foreseeing in late 2007 that to which other CEOs in his industry — most notoriously Gary Loveman and Frank Fertitta III … Continue reading →

Posted in Economy, Harrah's, history, MGM Mirage, Station Casinos | Comments Off on Quote of the Day

Dog Days

Posted on July 18, 2011 by David McKee

Heading into August, hotel rates along the Strip appear to be in the doldrums, judging by figures published today by J.P. Morgan analysts. Weekday rates continue to recover, typified by Caesars Entertainment properties, and weekend ones continue to decline. So … Continue reading →

Posted in CityCenter, Cosmopolitan, Current, Economy, Encore, Environment, Harrah's, MGM Mirage, Movies, Steve Wynn, The Strip, Tourism, Wall Street | 2 Comments

Harry Truman, come back!

Posted on July 18, 2011 by David McKee

According to this graph, which I have shamelessly borrowed from Paul Krugman (who obtained his data from the Federal Reserve), the best years for income growth were those immediately following World War II. Those were the days that brought us … Continue reading →

Posted in Economy, history | 1 Comment

If you liked CityCenter …

Posted on July 14, 2011 by David McKee

… you’ll lurve the “ghost cities” of China. Actually, they look more like something Sheldon Adelson would design — if Adelson were doing mile-long lines of cocaine, that is. He and others like him who own casinos in Macao better … Continue reading →

Posted in Architecture, Current, Downtown, Dubai, Economy, Environment, Harrah's, International, Jack Binion, Macau, Marketing, Mesquite, MGM Mirage, Michael Gaughan, Regulation, Sheldon Adelson, Steve Wynn, The Strip, Tourism, TV | 2 Comments

Sheldon Adelson, stiff?

Posted on July 13, 2011 by David McKee

Why would a man whose company shells out $2.5 million a year for a personal security detail balk at paying an extra hundred grand? (Las Vegas Sands has an interesting defense: We didn’t break the law … and, if we … Continue reading →

Posted in Cosmopolitan, Economy, Harry Reid, Macau, Regulation, Singapore, Station Casinos, Steve Wynn, The Strip, Tropicana Entertainment, Wall Street | 1 Comment

“Family friendly Vegas” is back; Putting the “gone” in Longoria; A mess in Mississippi

Posted on July 13, 2011 by David McKee

Actually, it never left, as any casual visit to the Strip will prove. But, strapped for a marketing position, Trump International is going for the wholesome niche with a vengeance. Stuck with a lemon, Trump marketing execs are making lemonade … Continue reading →

Posted in Alabama, Architecture, CityCenter, Current, Donald Trump, Economy, Entertainment, Environment, Marketing, MGM Mirage, Mississippi, Politics, Regulation, The Strip, Tourism, Tribal | 2 Comments

Quote of the Day

Posted on July 8, 2011 by David McKee

“Goldman is making a decent long-term investment in where the Strip is heading. The Stratosphere and the land could be more valuable imploded and built up with something else.” — gaming analyst Robert LaFleur, then with Susquehanna Financial Group, on … Continue reading →

Posted in Carl Icahn, Economy, Goldman Sachs, history, The Strip, Wall Street | 4 Comments

Where there’s smoke …

Posted on July 7, 2011 by David McKee

Fighting For Air: Secondhand Smoke in Casinos from RPCI Health Behavior-Paul Hage on Vimeo. No question about it, the issue of secondhand smoke is the greatest moral dilemma before the casino industry … especially since eliminating it means making a … Continue reading →

Posted in Current, Economy, Environment, Harrah's, The Strip, Tourism, Tribal | 2 Comments

Anthony Marnell III answers your questions

Posted on July 6, 2011 by David McKee

Anonymous: What happened to the self-serve soda fountains? [They] actually became a Health Department issue. They’re very expensive to maintain and the public had basically worn them out. There were lots of problems with the syrup and things falling down … Continue reading →

Posted in Architecture, Boulder Strip, Boyd Gaming, Dining, Economy, Entertainment, M Resort, Marketing, Penn National, Technology, The Strip, Tourism, Tribal, Wall Street | 2 Comments

So it begins

Posted on July 6, 2011 by David McKee

Slow news day: There wasn’t much worth noting yesterday, other than some preliminary numbers out of Pennsylvania (i.e., slot revenues). Table games money could change the picture but, so far, June is looking like a good month for Las Vegas … Continue reading →

Posted in Economy, Environment, M Resort, Marketing, Neil Bluhm, Penn National, Pennsylvania, Regulation, Sheldon Adelson, Tribal, TV | 1 Comment

ACH-ooo!; The Admiral’s last voyage

Posted on July 1, 2011 by David McKee

For the second time in a week, Hilton Hotels & Resorts has stripped its name from a Colony Capital casino-hotel. First to go was the Las Vegas Hilton, to be known next year as [your logo here]. Today comes news … Continue reading →

Posted in Atlantic City, California, Colony Capital, Columbia Sussex, Current, Dennis Gomes, Economy, Harrah's, history, Macau, MGM Mirage, Missouri, Pinnacle Entertainment, Regulation, Sheldon Adelson, Station Casinos, Steve Wynn, The Strip, Tourism, Tribal, Wall Street | 1 Comment

Lies, damned lies and smoking

Posted on June 28, 2011 by David McKee

Although Illinois‘ casino industry has fallen and can’t get up, the state’s smoking ban has nothing to do with it. Nada! That’s the contention of a study out of Washington University (my brother’s alma mater), which says that players “never … Continue reading →

Posted in Current, Economy, Environment, Harrah's, Illinois, Indiana, Iowa, Missouri, Neil Bluhm, Penn National, Racinos, Regulation, Tribal | 3 Comments

Ask Anthony!

Posted on June 28, 2011 by David McKee

Scarcely had I flayed the Las Vegas Sun‘s Anthony Marnell III interview in S&G than I was most graciously contacted by M Resort, offering the chance to ask the questions the Sun didn’t. More to the point, this is your … Continue reading →

Posted in Alex Yemenidjian, Economy, M Resort, Penn National, Technology | 4 Comments