Category Archives: Economy

Vegas in January: Dazed and confusing

Posted on March 10, 2011 by David McKee

It’s not as though there aren’t signs of hope for the Nevada economy. And even as empty storefronts continue to proliferate and housing prices tank in Las Vegas, there’s a “green shoot” or two, if you look for them. The … Continue reading →

Posted in Boulder Strip, Cosmopolitan, Current, Downtown, Economy, history, IGT, Lake Tahoe, North Las Vegas, Regulation, Sheldon Adelson, Taxes, The Strip, Tourism, Transportation, Wall Street | 3 Comments

This just in: NV ponders ‘Net bets

Posted on March 10, 2011 by David McKee

While certain politicians and even casino executives continue to keep a finger in the dike that protects Americans from — gasp! — gambling online, the dike is fast crumbling around them. Nevada is the latest state to join the jailbreak. … Continue reading →

Posted in Atlantic City, Current, Economy, Harrah's, International, Internet gambling, Iowa, Politics, Regulation, Taxes | Comments Off on This just in: NV ponders ‘Net bets

“V”

Posted on March 8, 2011 by David McKee

That’s about the extent and substance of the campaign of Las Vegas mayoral aspirant Victor Chaltiel, a suddenly ubiquitous, Peter Lorre-like figure who has manifested himself as major civic figure as suddenly as if he’d been beamed down from space. … Continue reading →

Posted in Archon Corp., Boyd Gaming, Current, Don Barden, Downtown, Economy, Harrah's, International, Marketing, North Las Vegas, Pennsylvania, Politics, Station Casinos, The Strip, TV, Wall Street | 4 Comments

Warm February in Philly; “Lion King” hungry

Posted on March 3, 2011 by David McKee

After a pretty lackluster January, gaming revenues in Pennsylvania bounced back at the slots.  The statewide February average was a 10% increase year/year, with Sands Bethlehem right on that button ($22 million) and Harrah’s Chester Downs down 2% ($24 million). … Continue reading →

Posted in Cannery Casino Resorts, CityCenter, Current, Dining, Donald Trump, Economy, Entertainment, Harrah's, MGM Mirage, Neil Bluhm, Pennsylvania, Racinos, Sheldon Adelson, The Strip, Tourism, Wall Street | 2 Comments

Macao rally boosts Sands, Wynn & Melco; No “Triumph” at Hilton

Posted on February 28, 2011 by David McKee

Publicly traded casino operators in Macao got a dose of good news today. A late-month rally in play means another record month at the tables, a 51% increase from last year. Roughly half the $2.5 billion haul will be divided … Continue reading →

Posted in Cirque du Soleil, Colony Capital, Cordish Co., Current, Detroit, Economy, Entertainment, Macau, Maryland, Melco Crown Entertainment, MGM Mirage, Penn National, Sheldon Adelson, Stanley Ho, Steve Wynn | Comments Off on Macao rally boosts Sands, Wynn & Melco; No “Triumph” at Hilton

Quote of the Day

Posted on February 28, 2011 by David McKee

“They basically gave the middle finger to their database … Once an offer has been extended and redeemed, I don’t think you can welsh on it.” — Fine Point Group founder Randall Fine, on Sheldon Adelson‘s retroactive revocation of comps … Continue reading →

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

Hooters in default; Rio robbed; Morgans out, Warner in?

Posted on February 24, 2011 by David McKee

From the “Could mean something, could mean nothing” File comes a Notice of Default, filed by the Bank of New York against Hooters Casino Hotel. The lenders are calling in a $130 million note on the 332-room hotel (arguably making … Continue reading →

Posted in Current, Detroit, Downtown, Economy, Entertainment, Harrah's, Harry Reid, Massachusetts, Morgans Hotel Group, Station Casinos, Tamares Group, Technology, The Strip, Tribal, TV, Wall Street | 2 Comments

Back from Chicago

Posted on February 24, 2011 by David McKee

My apologies to everyone who got tired of looking at Stanley Ho‘s wizened mug. S&G was on a brief, unannounced hiatus, as yours truly ventured to the cold but wondrous place that is Chicago, home to the greatest architecture in … Continue reading →

Posted in Architecture, Cosmopolitan, Current, Dining, Donald Trump, Economy, Entertainment, Harrah's, Illinois, Michael Gaughan, Penn National, Politics, Steve Wynn | 6 Comments

Dan Lee’s revenge & comeuppance for Penn in Louisiana

Posted on February 17, 2011 by David McKee

While the casino industry suffers no shortage of big egos, Penn National Gaming CEO Peter Carlino zooms past that, heading full speed toward arrogance. When not trying to use the political process to sandbag its competitors, Penn occasionally builds casinos. … Continue reading →

Posted in Atlantic City, Current, Dan Lee, Economy, Kansas, Louisiana, M Resort, Missouri, Ohio, Penn National, Pinnacle Entertainment, Regulation, Texas, Wall Street | 9 Comments

Sheldon Adelson, Man of La Mancha

Posted on February 17, 2011 by David McKee

Life’s being pretty good these days to Las Vegas Sands, thanks in part to better-than-expected convention traffic at Marina Bay Sands (offsetting tepid meeting/expo biz in Macao). In addition to eyeballing Florida, Texas, Massachusetts and Japan, CEO Sheldon Adelson has … Continue reading →

Posted in Alex Yemenidjian, Atlantic City, Current, Downtown, Economy, Florida, Genting, International, Macau, Massachusetts, Oscar Goodman, Pennsylvania, Regulation, Sheldon Adelson, Singapore, Texas, The Strip, Tourism, TV | 2 Comments

Quote of the Day

Posted on February 17, 2011 by David McKee

“[Y]esterday Celine Dion showed up and Vegas groveled at her feet. When she first came here in 2003, people wondered about her ability to sell tickets at prices that sailed as high as her irritating voice. Now she is a … Continue reading →

Posted in Current, Economy, Entertainment, Harrah's, Ohio, The Strip | Comments Off on Quote of the Day

Philadelphia’s cup runneth under

Posted on February 16, 2011 by David McKee

Returning to yesterday’s theme of exaggerated expectations of gaming revenues (decanted by casino operators, quaffed uncritically by politicians) we have a glass half-full/half-empty report from Pennsylvania. The salient statistic is that, once five-month-old SugarHouse (left) is factored out, slot revenues … Continue reading →

Posted in Architecture, Cordish Co., Current, Economy, Harrah's, Macau, Maryland, Neil Bluhm, Ohio, Penn National, Pennsylvania, Politics, Racinos, Regulation, Sheldon Adelson, Steve Wynn, Tribal | 3 Comments

Quote of the Day

Posted on February 16, 2011 by David McKee

“Vegas is a different market. You can get a room in the finest hotels on the Strip for Holiday Inn Express prices. That’s why Sheldon Adelson is stomping his feet. The restaurants are not making their lease payments either. The convention … Continue reading →

Posted in Current, Dining, Economy, Entertainment, Marketing, Sheldon Adelson, The Strip | 1 Comment

Marina: Trump out, Tilman in

Posted on February 15, 2011 by David McKee

Our long national nightmare is over. Trump Entertainment Resorts has finally unloaded that pariah known as Trump Marina and for a pittance: $38 million. Just when it looked like Trump couldn’t give the place away, Landry’s Restaurants CEO Tilman Fertitta … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colony Capital, Current, Donald Trump, Economy, Harrah's, Regulation | 3 Comments

Gary Loveman … visionary?

Posted on February 15, 2011 by David McKee

At the risk of pumping additional hydrogen into his already zeppelin-sized ego, allow me to suggest that Caesars Entertainment CEO Gary Loveman, PhD. is actually onto something. But first would somebody clue him in that there has been casino gambling … Continue reading →

Posted in Architecture, Current, Economy, Entertainment, Florida, G2E, Harrah's, Jack Binion, Marketing, Neil Bluhm, Ohio, Penn National, Pennsylvania, Sheldon Adelson, Slot routes, Taxes, The Mob, The Strip, Tourism, Tropicana Entertainment, Wall Street | 2 Comments

Caesars too good for Cincy

Posted on February 11, 2011 by David McKee

Congratulations, Cincinnati, you’re getting a Horshoe-branded casino. Yup, the relatively low-key casino planned for the Queen City’s historic district is getting the most down-market of the company’s three brands. This despite the fact that there’s already a Horseshoe casino just … Continue reading →

Posted in Atlantic City, Current, Economy, Harrah's, Indiana, International, Louisiana, Marketing, Neil Bluhm, Pennsylvania, Racinos | 15 Comments

Quote of the Day

Posted on February 11, 2011 by David McKee

“I don’t suppose it’s occured [sic] to the smart crowd at MGM that luxury resort complexes designed for the ultra-wealthy in Egypt are exactly what the impoverished masses rebelling against [Hosni] Mubarak are against.” — “RussBBinVegas“, commenting on the Las … Continue reading →

Posted in Current, Economy, Genting, Harrah's, International, MGM Mirage | Comments Off on Quote of the Day

There’s a new(ish) resort in town

Posted on February 11, 2011 by David McKee

Dolce Hotels & Resorts, a small (27-property) hotelier, is trying to make a go of it out at the Kingdom of Make-Believe (aka Lake Las Vegas). A symbol of the hollow “prosperity” of the pre-crash years, Lake Las Vegas is … Continue reading →

Posted in Current, Economy, Lake Las Vegas | 2 Comments

Quote of the Day

Posted on February 9, 2011 by David McKee

“If Gov. Brian Sandoval could take the state’s checkbook to a Money Tree store, maybe he could borrow the $1 billion that would at least get Nevada back to the budget amount approved by the 2009 Legislature. The Money Tree … Continue reading →

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

The sky is falling!

Posted on February 1, 2011 by David McKee

Or so you’d think, to hear the reaction to the news that Florida is contemplating bringing a micromanaged form of casino gambling to its fair shores. S&G readers are well rehearsed in the flaws of the bill being contemplated in … Continue reading →

Posted in Boyd Gaming, Current, Economy, Entertainment, Florida, Harrah's, Hawaii, history, Ohio, Sheldon Adelson, The Strip | 1 Comment