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Category Archives: Economy
Good news, bad news in Atlantic City; Feinstein: “Stay on the rez!”; Buffalo Bill’s rides again
For once, however, it’s mostly good. Almost entirely good, in fact. The headline item is that Dennis Gomes‘ purchase of Resorts Atlantic City has cleared licensing, sweeping out the disastrous Colony Capital era. Gomes and financier Morris Bailey say $31.5 … Continue reading
Macao smacks down Adelson
So the Chinese government was just bluffing, huh? Talk about taking land back was merely political posturing, was it? Once again, Wall Street and hubristic casino barons alike have been given a sharp reminder just who’s calling the shots over … Continue reading
Isle’s comeback continues; What’s in a Mystic?
Congratulations to Isle of Capri Casinos, winner of Missouri‘s 13th and final casino license. This morning, the Missouri Gaming Commission voted in favor of Isle’s $125 million Cape Girardeau project. Although all rival projects were budgeted higher, favorite-son Isle’s standing … Continue reading
Pinnacle sees Kasich, raises him $45 million
Pinnacle Entertainment pushed $45 million worth of chips into the middle of the poker table that is Ohio last week. Buying River Downs is a seven-figure wager that Gov.-elect Jon Kasich will resume outgoing Gov. Ted Strickland‘s push for VLTs … Continue reading
Posted in Economy, Election, International, Macau, MGM Mirage, Ohio, Pinnacle Entertainment, Racinos, Regulation, Sheldon Adelson, Station Casinos, Tribal
Comments Off on Pinnacle sees Kasich, raises him $45 million
G2E 1, S&G 0
Despite less glad-handing and more hand-washing than any previous Global Gaming Expo, Yr. Humble Blogger is down for the count until further notice, victim of “flu-like” symptoms that surfaced at the end of the show. I’ll be “offline” another day … Continue reading
Steelman: Small is profitable
Before he got elbowed aside in favor of ‘starchitects,’ Paul Steelman was one of the go-to designers on the Las Vegas Strip. He’s also one of the very few people who can say they’ve worked — without repercussion — for … Continue reading
Quote of the Day
“Garth Brooks may be a very talented performer but he’s not worth $253. Hell, I wouldn’t even pay $253 to see Elvis if you could resurrect him.” — Las Vegas Sun reader Phillip McWatt, balking at a $100 price increase … Continue reading
Posted in Current, Economy, Entertainment, Steve Wynn, The Strip, Tourism
6 Comments
Gaming’s big election night; Coming attractions
This just in: Fuming over a 5,000-vote-plus margin of defeat, opponents of a casino in western Maine are demanding a recount. Casino developer Black Bear Entertainment calls this “a needlessly divisive exercise.” Do I sense the subtle touch of Penn … Continue reading
Posted in Alex Yemenidjian, Downtown, Economy, Election, Environment, history, Illinois, Iowa, Minnesota, Penn National, Racinos, Sahara
3 Comments
Steve Wynn & the Half-Blood Princes; Harrah’s thinks ahead; rough road for Revel
Count Wynn Las Vegas President Andrew Pascal among the casualties of Steve Wynn‘s divorce from ex-wife Elaine Wynn. As of Monday, former nephew-in-law Pascal joined the ranks of Nevada‘s unemployed, ceding authority to Marilyn Winn. Pun opportunities aside, Winn’s sudden … Continue reading
Posted in Atlantic City, California, Current, Economy, Entertainment, Environment, George Maloof, Harrah's, Indiana, Macau, Missouri, Movies, Regulation, Station Casinos, Steve Wynn, The Strip, Tribal, Wall Street
4 Comments
What if they held an implosion and nobody came?
Tropicana Las Vegas CEO Alex Yemenidjian has played the publicity game very astutely of late. So it’s hard to imagine what he was thinking when he decided to implode a wing of low-rise hotel rooms in the dead of night … Continue reading
Posted in Alex Yemenidjian, Architecture, Current, Economy, Harrah's, Marketing, MGM Mirage, Ohio, The Strip
4 Comments
Quote of the Day
“When inequality rises, the richest rake in their winnings and buy even bigger mansions and fancier cars. Those a notch below then try to catch up, and end up depleting their savings or taking on more debt, making a financial … Continue reading
Posted in Current, Economy, Steve Wynn, Taxes
1 Comment
Juice job of 2011
Harrah’s Entertainment and the AFL-CIO have collected the requisite 20,000 signatures to place its request for a publicly funded stadium out back of Imperial Palace (currently a vast, dark wasteland) before Nevada solons. CEO Gary Loveman would throw in some … Continue reading
Posted in Archon Corp., Economy, Election, Harrah's, Politics, Sports, Taxes, The Strip, Tourism
2 Comments
G2E bargain at Station; analysts split on Sands
If you’re looking for an affordable room in Las Vegas during Global Gaming Expo, try Expedia‘s German site (“.de”). A European-based S&G source reports finding rooms at Boulder Station going for €57 and Fiesta Rancho asking €59 — or $79 … Continue reading
Quote of the Day
“In the face of all those challenges, like our Gilded Age forebears, we have a political system that manages to be both volatile and gridlocked — indeed, it may be gridlocked not least because it is so volatile. And, like … Continue reading
Posted in Economy, history
4 Comments
Quote of the Day
“Suffice to say, it’s a very strange situation that someone who wants to be a representative of the state of Nevada never reached out to the No. 1 industry and even actively attacked Senator [Harry] Reid for helping it. I … Continue reading
Posted in CityCenter, Current, Economy, Election, Harry Reid, MGM Mirage, The Strip
2 Comments
Iowa is flat
Actually it’s not, if you’ve lived there (as I did for four wonderful years). However, Iowa‘s casino industry is, down one-tenth of a percent from October 2009. Actually, nine of the 17 non-tribal casinos recorded revenue increases, particularly the small … Continue reading
A brief digression … and dark doings in Maine
For those of you who are fascinated by the inexact science known as polling, there’s plenty of interesting reading about What Went Wrong in Nevada (and elsewhere). Major news organizations blew off internal tracking polls, to their eventual mortification. They … Continue reading
Posted in Economy, Election, Florida, Horseracing, Penn National, Racinos, Taxes, Technology
2 Comments
Big Gaming’s big win
When the dust settled — and did so quite quickly on Election night — GOP pollster Frank Luntz had it right and everybody else had it wrong. Instead of experiencing a fatal wound or even the electoral near-death experience of … Continue reading
Election 2010: Around the horn
Let’s get to it, with some help from Wells Fargo gaming analyst Carlo Santarelli … Cordish Gaming won big in Maryland, where voters upheld an initiative to ratify the zoning of its Arundel Mills Mall casino project. Penn National Gaming, … Continue reading