Category Archives: Economy

Quote of the Day

Posted on June 29, 2010 by David McKee

“You say you’re honoring the chips? I say honor the employees.” — unidentified, unemployed President Casino worker, one of several accusing Pinnacle Entertainment of leaving them high and dry. Pinnacle has published a detailed rebuttal of the workers’ accusations.

Posted in Economy, Missouri, Pinnacle Entertainment, Regulation | Comments Off on Quote of the Day

The casino Angle

Posted on June 29, 2010 by David McKee

Nevada senatorial aspirant Sharron Angle got off to an odd start a few weeks back by warning balefully of “unwarranted influence” from the casino industry. (Which is, after all, one of the Silver State’s two primary sources of revenue.) Then … Continue reading →

Posted in Current, Economy, Election, Harry Reid, Politics, Sports, Station Casinos, Taxes, The Strip | 6 Comments

Still catching up in Margaritaville

Posted on June 28, 2010 by David McKee

Eight days of vacation have left me deep in the hole, research-wise, so I hope you’ll forgive the slender output of recent days whilst I plough through dozens — if not a hundred or more — of unread news stories, … Continue reading →

Posted in Current, Economy, Harrah's, Mississippi, Sheldon Adelson, The Strip, Wall Street | Comments Off on Still catching up in Margaritaville

Quote of the Day

Posted on June 28, 2010 by David McKee

“People ask me: What are you going to do to develop jobs in our state? Well that’s not my job as a U.S. senator, to bring industry to this state. That’s the lieutenant governor’s job. That’s your state senators and … Continue reading →

Posted in Economy, Election | 4 Comments

That giant flushing sound …

Posted on June 28, 2010 by David McKee

… you hear coming from the offices of Texas Pacific Group is a 46% writedown of its equity stake in Harrah’s Entertainment. As detailed in the Financial Times (registration req’d), $1.4 billion has turned into $759 million at the stroke … Continue reading →

Posted in Current, Economy, Harrah's, James Packer, TV, Wall Street | 1 Comment

From the mailbag

Posted on June 25, 2010 by David McKee

Thanks for linking this article in your blog; it was interesting reading. But as I was finishing the article, the question that kept popping up in my head was: Does it make sense to spend billions and billions for a … Continue reading →

Posted in California, Economy, Tourism, Transportation | 5 Comments

Louisiana: the oil hits the fan

Posted on June 15, 2010 by David McKee

Forty days and nights of Deepwater Horizon put a stop to what looked like an incipient recovery in the Louisiana market. After being down 15% in January, revenue declines shallowed during the following three months (-6%, -5%, -1%). Then came … Continue reading →

Posted in Boyd Gaming, Current, Economy, Environment, Harrah's, Louisiana, Pinnacle Entertainment, Tourism | 3 Comments

Cool breeze from Macao; Harrah’s panty raid stymied

Posted on June 11, 2010 by David McKee

One of Stanley Ho‘s lieutenants has scanned the 2010 horizon and doesn’t like what he sees. Sociedade de Jogos de Macau division president Frank McFadden believes VIP play will soften in 3Q-4Q10, as stock-market losses take their toll (a viewed … Continue reading →

Posted in Current, Detroit, Economy, Harrah's, Harry Reid, James Packer, Kansas, Lawrence Ho, Macau, Marketing, Melco Crown Entertainment, MGM Mirage, Planet Hollywood, Politics, Regulation, Rhode Island, Sheldon Adelson, Stanley Ho, Steve Wynn | 6 Comments

The best Deepwater Horizon commentary yet

Posted on June 11, 2010 by David McKee

While the obscenity known as Deepwater Horizon continues to hover ominously near the Gulf Coast of Mississippi, it remains one of those subjects so depression- and despair-inducing that even I can’t bear to write about it. (“Enjoy the resort offerings … Continue reading →

Posted in Current, Economy, Entertainment, Environment, MGM Mirage, Mississippi | 4 Comments

Quote of the Day

Posted on June 11, 2010 by David McKee

“Our demographic is sick of being told the economy sucks.” — Hard Rock Hotel & Casino Chief Marketing Officer Phil Shalala.

Posted in Economy, Morgans Hotel Group, Tourism | 1 Comment

“Yer money’s no good here”

Posted on June 10, 2010 by David McKee

Update: The “does not accept money from casinos and unions” verbiage was reinstated late today. (It’s way, way, waaaaaaaaaaaaaay down at the bottom of the page. So why is “perception, by voters [of] undue pressure” by casinos a problem? Nevada‘s … Continue reading →

Posted in Economy, Election, Harrah's, Harry Reid, Iowa, Isle of Capri, Movies, Penn National, Pennsylvania, Politics, Sheldon Adelson, Technology | 5 Comments

So long, Sue, and thanks for playing

Posted on June 9, 2010 by David McKee

It’s back to her day job for Archon Corp. Secretary-Treasurer Sue Lowden, whose political aspirations experienced an embarrassing meltdown that some would call karmic,  redefining “epic fail.” Now she can focus on repairing a corporate image which The Newspaper That … Continue reading →

Posted in Archon Corp., Boyd Gaming, Current, Downtown, Economy, Election, Harry Reid, history, Laughlin, MGM Mirage, Michael Gaughan, Midnight Jim Gibbons, Movies, North Las Vegas, Phil Ruffin, Politics, Regulation, Reno, Sheldon Adelson, Sports, Steve Wynn, The Mob, The Strip, Wall Street | 2 Comments

Dead governor walking

Posted on June 9, 2010 by David McKee

After three and a half years that felt more like three centuries, Nevadans gave the pink slip to Gov. Jim Gibbons. In a fitting end to a thoroughly incompetent tenure, Midnight Jim got an ignominious drubbing — a 28-point annihilation, … Continue reading →

Posted in Economy, Election, Midnight Jim Gibbons, North Las Vegas, Oscar Goodman, Politics, Regulation | 2 Comments

“Complete disaster” at Marina Bay Sands

Posted on June 9, 2010 by David McKee

That’s what litigants allege about the premiere convention at Las Vegas Sands‘ $5.5 billion Singapore behemoth. In its countersuit to Sands’ opening broadside, the Inter-Pacific Bar Association essentially accuses Station of promising a five-star experience and delivering a Walmart one … Continue reading →

Posted in Animals, Current, Economy, Pets, Sheldon Adelson, Singapore, Station Casinos, Technology, The Strip | Comments Off on “Complete disaster” at Marina Bay Sands

This is what “recovery” looks like

Posted on June 9, 2010 by David McKee

Here’s our new business model: a Strip that hasn’t gotten past “dead cat bounce” yet and emaciated revenues elsewhere. Instead of longing for the snows of yesterday and invoking the magic number “2007,” the top minds in the industry are … Continue reading →

Posted in Boulder Strip, Current, Detroit, Downtown, Economy, Lake Tahoe, Laughlin, MGM Mirage, Regulation, The Strip, Tourism, Wall Street | 3 Comments

Harrah’s still pining for Macao

Posted on June 8, 2010 by David McKee

While we’re on the subject of white elephants today, Harrah’s Entertainment still has a little boondoggle in Macao in the form of a $577 million golf course. Cornered by a reporter at G2E Asia, Harrah’s Asian viceroy, Michael Chen, conceded … Continue reading →

Posted in CityCenter, Current, Dining, Economy, G2E, Harrah's, history, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Movies, Pennsylvania, Regulation, Sports, The Strip, TV | 2 Comments

Sands Bethlehem breaks ground … again

Posted on June 8, 2010 by David McKee

No, that’s not a joke. Las Vegas Sands held a “grand re-groundbreaking” on the hotel portion of its white elephant, Sands Casino Resort Bethlehem. When money ran short, Sands ditched everything but the parking lot and casino, leaving the hotel … Continue reading →

Posted in California, Current, Economy, Marketing, Pennsylvania, Sheldon Adelson, Singapore, Technology, Tribal, TV | 1 Comment

Quote of the Day

Posted on June 8, 2010 by David McKee

“There’s no question … that [the Obama administration has] basically focused too much on making things good for Wall Street and ignored Main Street, and now we’re paying the price for that. This is a structural problem. This is not … Continue reading →

Posted in Current, Economy, TV, Wall Street | 3 Comments

Recovery: Wait ’til next year

Posted on June 7, 2010 by David McKee

Executives at MGM Mirage haven’t exactly changed their tune but they’ve tweaked the lyrics a bit. Whereas they used to predict a second-half upturn in 2010, now they say 2011 is the magic number and that they’ve got the numbers … Continue reading →

Posted in Atlantic City, CityCenter, Current, Economy, Illinois, Iowa, MGM Mirage, Sheldon Adelson, Steve Wynn, The Strip | Comments Off on Recovery: Wait ’til next year

Quote of the Day

Posted on June 7, 2010 by David McKee

“You have no private life at all. You can’t go down to the store to buy a couple of tomatoes without having to talk to five, six, seven people who want to tell you their unemployment check didn’t arrive today, … Continue reading →

Posted in Current, Economy, Election, Midnight Jim Gibbons, TV | 1 Comment