Category Archives: Economy

Burnt out at Marina Bay Sands; Winners in Atlantic City

Posted on January 28, 2011 by David McKee

Another day, another Las Vegas Sands executive falls by the wayside. In the case of Marina Bay Sands, it sounds like CEO Thomas Arasi has been burned out in what must have been a pretty intense 18 months at the … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colony Capital, Cordish Co., Current, Dennis Gomes, Donald Trump, Economy, Harrah's, IGT, International, Macau, Marketing, Maryland, Penn National, Politics, Racinos, Sheldon Adelson, Singapore, Tilman Fertitta, Tourism, Wall Street, WMS Industries | 3 Comments

Fun with geography, Adelson-style

Posted on January 27, 2011 by David McKee

Thanks to a tip from reader detroit1051, S&G customers can avail themselves of this handy online tool. With it, you can pretend to be Sheldon Adelson, scissoring the State of Florida into 75-mile zones of exclusivity (because, being a super-patriot … Continue reading →

Posted in Current, Economy, Florida, Politics, Sheldon Adelson | 1 Comment

Another one bites the dust

Posted on January 25, 2011 by David McKee

Whoever gets the three resort casinos that Gov. Deval Patrick (D) wants to bring to Massachusetts, it probably won’t be Fall River and it certainly won’t be the Mashpee Wampanoags. The city has pulled a controversial land deal with the … Continue reading →

Posted in Charity, CityCenter, Cosmopolitan, Current, Economy, Harrah's, International, Louisiana, Massachusetts, Pinnacle Entertainment, Politics, Regulation, South Carolina, The Strip, Tribal | 3 Comments

Wynn makes friends abroad, enemies at home

Posted on January 21, 2011 by David McKee

Steve Wynn has long prided himself on his good relations with the Culinary Union. However, those could soon be a thing of the past if he and front man Jesse Waits continue to extend Wynncore‘s tip-confiscation policies to Culinary-repped workers. … Continue reading →

Posted in Current, Economy, Harrah's, Macau, Politics, Sheldon Adelson, Stanley Ho, Steve Wynn, The Strip | 1 Comment

Best-kept secret in Vegas

Posted on January 20, 2011 by David McKee

Best-kept secret in Vegas. It’s the pool deck at Cosmopolitan, according to an S&G reader who visited it after dark and found but four patrons hanging out on its shores. The missus and I checked it last night and, sure … Continue reading →

Posted in Architecture, Cosmopolitan, Current, Dining, Economy, Entertainment, Massachusetts, Politics, Steve Wynn, The Strip, Tourism, Tribal | 5 Comments

Rooms at the top

Posted on January 18, 2011 by David McKee

It’s been a bumpy and expensive education in the Las Vegas casino business for Goldman Sachs. However, the banking house is giving its flagship property, the Stratosphere, a new look (and a new general manger to go with it). If … Continue reading →

Posted in Alex Yemenidjian, Current, Donald Trump, Economy, Goldman Sachs, Herbst Gaming, Isle of Capri, Marketing, Steve Wynn, The Strip | 2 Comments

Quote of the Day

Posted on January 14, 2011 by David McKee

“Our intent is to be a large capital facilitator to enable SBE to embark on a shopping spree through the rubble and wreckage of a stretched industry, and do those bold things that others would not consider.” — Colony Capital … Continue reading →

Posted in Atlantic City, Colony Capital, Economy, Sahara, Station Casinos, Wall Street | 1 Comment

Play Cosmo, get a car!

Posted on January 13, 2011 by David McKee

Enviro-friendly, too. I want it! (Funny how The Cosmopolitan, of which little was initially expected, looks like the feel-good story of the year, while CityCenter is a continuing disappointment, and Fontainebleau and sundry other projects have fallen on their faces.) … Continue reading →

Posted in CityCenter, Cosmopolitan, Current, Dining, Economy, Entertainment, Environment, Fontainebleau, MGM Mirage, Transportation | 1 Comment

Saved!

Posted on January 12, 2011 by David McKee

Illinois‘ casino industry just dodged a bullet the size of a 747 when the lower house failed to bring a gaming-expansion bill to a vote last night. A new Legislature is sworn in today, sending this colossally bad and ill-timed … Continue reading →

Posted in Cirque du Soleil, Current, Economy, Entertainment, Florida, Harrah's, Illinois, Internet gambling, Macau, Melco Crown Entertainment, Pennsylvania, Politics, Problem gambling, Racinos, Regulation, Sheldon Adelson, Steve Wynn, The Strip | 4 Comments

Harrah’s to Philly: “We’re back!”; MGM tries something new

Posted on January 11, 2011 by David McKee

Or so Ed Snider‘s Philadelphia Entertainment & Development Partnership claims in a new petition to the Pennsylvania Gaming Control, asking for its license back. Snider’s group says that it now has $275 million in seed money sown up and would … Continue reading →

Posted in Atlantic City, CityCenter, Current, Dubai, Economy, Harrah's, Isle of Capri, Marketing, MGM Mirage, Pennsylvania, Pets, Regulation, The Strip, Tourism, Tribal, Wall Street | 3 Comments

Quote of the Day

Posted on January 11, 2011 by David McKee

“The industry we’ve seen these last couple of years isn’t a cash machine that’s impervious to economic changes. All these tax increases are going to be coming off the bottom line, which means less money for reinvestment.” — MGM Resorts … Continue reading →

Posted in Current, Economy, MGM Mirage, Regulation, Taxes | 2 Comments

Case Bets: Philadelphia, Trump; Adelson’s successor

Posted on January 10, 2011 by David McKee

Even outgoing Pennsylvania Gov. Ed Rendell (D) has thrown in the towel on a second Philadelphia casino. Now that he no longer has to gratify “george” campaign donors, Rendell says it may be time to look elsewhere in the state. … Continue reading →

Posted in Atlantic City, Current, Economy, International, Isle of Capri, Macau, MGM Mirage, Pansy Ho, Pennsylvania, Sheldon Adelson, Singapore, Stanley Ho | 1 Comment

Upsizing Illinois

Posted on January 7, 2011 by David McKee

Or would “capsizing” be the right word? Late Thursday, Wells Fargo released a study of the effects on Illinois‘ casino market if a massive expansion backed by state Democrats goes through. They’re under the gun, since the whole issue gets … Continue reading →

Posted in Bally Technologies, Boyd Gaming, Current, Don Barden, Economy, Harrah's, IGT, Illinois, Indiana, Mississippi, Missouri, Neil Bluhm, Penn National, Pinnacle Entertainment, Politics, Racinos, Regulation, Wall Street, WMS Industries | 6 Comments

Sheldon: I’ll take Florida

Posted on January 7, 2011 by David McKee

It’s amazing what a transformative effect a night’s stay at Venelazzo will have. After stopping by Sheldon Adelson‘s little pied-a-terre, Florida Gov. Rick Scott (left) has done a 180 on casino expansion in Florida. Now Scott, refreshed by an evening’s … Continue reading →

Posted in Current, Economy, Election, Florida, Genting, Harrah's, Penn National, Pennsylvania, Politics, Racinos, Sheldon Adelson, Singapore, Steve Wynn, Taxes, The Strip, Tourism, Tribal | 1 Comment

Quote of the Day

Posted on January 5, 2011 by David McKee

“Suppose Prohibition of alcohol had just been repealed. The hypothetical owner of the first and only liquor store in a state would make a fantastic return on investment. But soon, if there were no government controls, there would be liquor … Continue reading →

Posted in Economy, Harrah's, history, Regulation | Comments Off on Quote of the Day

Happy New Year?

Posted on December 30, 2010 by David McKee

Since Las Vegas is looking at a 3.5% increase in visitation from New Year’s Eve 2009 and 98% occupancy, the answer is “Yes.” Thank God, because it hopefully means that an equivocal recovery on the Strip is finally gaining traction, … Continue reading →

Posted in California, Charity, CityCenter, Current, Economy, Harrah's, Harry Reid, Internet gambling, Lake Tahoe, Sheldon Adelson, Station Casinos, Tribal, Wall Street | 5 Comments

Hard Rock: No end of trouble on Paradise

Posted on December 28, 2010 by David McKee

Once again the blogosphere has caught the MSM napping. Report On Vegas informs readers that the Hard Rock Hotel & Casino is having a rough time meeting its bills (this was the augury of doom for Barrick Gaming‘s short-lived stewardship … Continue reading →

Posted in Boyd Gaming, Current, Don Barden, Downtown, Economy, Harrah's, Lake Tahoe, Morgans Hotel Group, Pennsylvania, Sports, Tamares Group, The Strip, Tribal, TV | 3 Comments

Ruffin on the prowl; Penn’s blown opportunity

Posted on December 28, 2010 by David McKee

So much for the conventional wisdom that Phil Ruffin was just hanging onto Treasure Island for a few years to help MGM Resorts International through a rough patch. Seems he’s subsequently made offers for The Mirage (whose infrastructure is symbiotic … Continue reading →

Posted in Columbia Sussex, Current, Economy, Entertainment, Fontainebleau, Harrah's, International, Kansas, MGM Mirage, Mississippi, Penn National, Phil Ruffin, Steve Wynn, Tribal | 6 Comments

Let it (not) snow!; BP screws casinos

Posted on December 27, 2010 by David McKee

With Atlantic City currently in white-out mode, casino executives must be studying next weekend’s forecast and hoping that it holds true. A few days of above-freezing temperatures ought to give the Boardwalk a chance to melt and shovel its way … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Current, Dennis Gomes, Economy, Entertainment, Environment, Harrah's, Macau, Marketing, Mississippi, Reno, Sheldon Adelson, Singapore, Tourism, Tropicana Entertainment | 2 Comments

For sale: One casino license, slightly used

Posted on December 27, 2010 by David McKee

Legislators are pressing for a free-market solution to debacle that was Foxwoods Philadelphia. Typical of Pennsylvania‘s overhasty implementation of casino gambling, nobody bothered to codify A) what to do with licenses that get revoked or B) whether to refund or … Continue reading →

Posted in Economy, Harrah's, Illinois, Indiana, Neil Bluhm, Pennsylvania, Politics, Racinos | 4 Comments