Category Archives: Economy

Quote of the Day

Posted on May 19, 2010 by David McKee

“Sir, it’s a line charge. It’s the privilege of phone service, even if you don’t use it.” — response of Sam’s Town and Palms desk personnel to a patron’s complaint about being charged a dollar a day for the phone(s) … Continue reading →

Posted in Boulder Strip, Boyd Gaming, Economy, George Maloof, The Strip, Tourism | 1 Comment

News flash: And then there were three

Posted on May 19, 2010 by David McKee

If you’re headed through Mesquite, take a good look at the former Si Redd’s Oasis, which Black Gaming CEO Randy Black wants to demolish — in a metaphorical demonstration of what he’s done to that market (another beneficiary of the … Continue reading →

Posted in Current, Economy, Harrah's, Mesquite, Michael Gaughan, Regulation | 1 Comment

More political football at CityCenter

Posted on May 18, 2010 by David McKee

Due to the Las Vegas Review-Journal‘s bizarre campaign to secede from the Internet, we dare not even link to an excellent Howard Stutz rundown of MGM Mirage‘s attempt to gain the high ground in the fractious “Who screwed up CityCenter” … Continue reading →

Posted in Architecture, Archon Corp., Boyd Gaming, CityCenter, Current, Economy, Election, Harry Reid, Labor, MGM Mirage, Midnight Jim Gibbons, Movies, Politics, Problem gambling, Regulation, Technology, The Strip, Tourism, Transportation | 1 Comment

Andy Rooney is an @$$

Posted on May 17, 2010 by David McKee

Actually, I had a more sphincter-specific adjective in mind. I tuned the nasty old fart out years ago, when he approving noted the spread of AIDS. The CBS-TV in-house crackpot hasn’t stopped rejoicing in human misery since then. Here are … Continue reading →

Posted in Current, Detroit, Economy, The Strip, TV | 2 Comments

Quote of the Day

Posted on May 17, 2010 by David McKee

“Mark Manendo, 42, has never married and has lived with his mother for long periods of time.” — Assemblywoman Kathy McClain (D-NV) lobbing a creaky old form of sexual innuendo against her opponent in the primary. Judging by the locution, … Continue reading →

Posted in Current, Economy, Election, Politics | 3 Comments

LV Hilton sagging

Posted on May 14, 2010 by David McKee

Tom Barrack‘s Colony C[r]apital may be running yet another casino into the ground. The Las Vegas Hilton reported earnings late today, swinging $5 million year/year from a profit to a loss. Food and beverage sales were steady but hotel rooms … Continue reading →

Posted in Colony Capital, Economy, The Strip, Wall Street | 2 Comments

“The American consumer is toast”

Posted on May 14, 2010 by David McKee

If you think MGM Mirage CEO Jim Murren sounds apocalyptic when he forecasts no major development on the Las Vegas Strip until circa 2020 (heck, Carl Icahn may keep Fontainebleau on ice until 2015) then get a load of this … Continue reading →

Posted in Atlantic City, Carl Icahn, CityCenter, Columbia Sussex, Current, Economy, Fontainebleau, Genting, Harrah's, Herbst Gaming, Mesquite, MGM Mirage, Neil Bluhm, Pennsylvania, Racinos, Regulation, Sheldon Adelson, Singapore, Technology, The Strip, Tribal, Tropicana Entertainment | 3 Comments

This just in …

Posted on May 13, 2010 by David McKee

Casino regulators in Iowa have dealt a sweeping rebuff to Gov. Chet Culver (D). While the Hawkeye State’s Racing & Gaming Commission gave its nod to a casino targeted primarily at the South Dakota market, it backhanded three other proposals. … Continue reading →

Posted in Colony Capital, Current, Economy, Entertainment, Iowa, MGM Mirage, Politics, Regulation, The Strip | Comments Off on This just in …

Resorts World lifts Marina Bay Sands

Posted on May 13, 2010 by David McKee

Strongly early numbers and performance from Genting‘s Resorts World Sentosa metaresort are fueling bullish sentiment regarding Las Vegas Sands‘ $5.7 billion Marina Bay Sands megalith (above), part of a multi-pronged tourism push. Sentosa did $243 million in revenue and $79 … Continue reading →

Posted in Current, Economy, Genting, Regulation, Sheldon Adelson, Singapore, Steve Wynn, The Strip, Tourism, Wall Street | Comments Off on Resorts World lifts Marina Bay Sands

Nevada: No recovery yet

Posted on May 11, 2010 by David McKee

“We hit the bottom and are slowly climbing out,” contends Nevada Gaming Control Board analyst Frank Streshley, trying to put the best spin on a flat March. There were definitely some silver linings. Who’da thunk Laughlin (2.5%), Reno (5%) and … Continue reading →

Posted in Boulder Strip, California, CityCenter, Current, Downtown, Economy, Lake Tahoe, Laughlin, LVCVA, Marketing, Mesquite, MGM Mirage, Reno, Sports, The Strip | 10 Comments

Mixed signals along the rivers

Posted on May 11, 2010 by David McKee

Last month’s results from Missouri are as might be expected. The opening of Pinnacle Entertainment‘s River City lifted state revenues overall (6%) but at the price of a fair amount of cannibalization — mainly at other Pinnacle properties, although it … Continue reading →

Posted in Ameristar, Boyd Gaming, Columbia Sussex, Cordish Co., Detroit, Economy, Harrah's, Illinois, Indiana, Missouri, Penn National, Pinnacle Entertainment, Tribal, Tropicana Entertainment, Wall Street | Comments Off on Mixed signals along the rivers

Quote of the Day

Posted on May 11, 2010 by David McKee

“Where financing was hard to come by before, it’s nearly impossible for today.” — Columbia Sussex Executive Vice President Joseph Yung (son of Bill). Yes, it would be … especially when you’re leveraged to the gills like ColSux.

Posted in Columbia Sussex, Current, Economy, Wall Street | Comments Off on Quote of the Day

While Atlantic City burns …

Posted on May 7, 2010 by David McKee

While Atlantic City burns, Gov. Chris Christie fiddles. After coming into office saying the right things about helping the state’s casino industry, Christie has spent most of first months in office dithering uselessly. Having waited until A) the Revel project … Continue reading →

Posted in Alabama, Atlantic City, CityCenter, Colony Capital, Current, Dining, Donald Trump, Economy, Election, Environment, Harrah's, Louisiana, MGM Mirage, Mississippi, Pennsylvania, Planet Hollywood, Politics, Regulation, Steve Wynn, The Strip, Tourism, Tribal, Wall Street | 4 Comments

Illinois’ results are good, Sands’ are better

Posted on May 7, 2010 by David McKee

Praise be! Casino revenues in Illinois were actually flat (+0.5%) last month. It’s mainly a consequence of Penn National‘s Empress Joliet being back in the fray, raking in $40 million. (You’ll recall that, a year ago, its pavilion was but … Continue reading →

Posted in Current, Economy, Harrah's, Macau, MGM Mirage, Missouri, Penn National, Pennsylvania, Pinnacle Entertainment, Regulation, Sheldon Adelson, Singapore, The Strip | Comments Off on Illinois’ results are good, Sands’ are better

Adelson does it again

Posted on May 6, 2010 by David McKee

Despite vigorous attempts by Singapore to discourage its own citizens from gambling, it’s not working. Even a $72 admission charge isn’t keeping them out. Better still, VIP junketeers are encountering smoother access than was expected. (Junket scrutiny in Singapore is … Continue reading →

Posted in Current, Economy, Genting, International, Macau, Pennsylvania, Regulation, Sheldon Adelson, Singapore | 4 Comments

How ’bout “Frankie & Lon’s Shack o’ Slots”?

Posted on May 5, 2010 by David McKee

So, will $10 billion Viva precede or follow those condo towers next to Palace Station in the grand Station scheme of things? There are any number of gaming companies about which one can write with approbation. Station Casinos is not … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, Cannery Casino Resorts, Colony Capital, Current, Economy, Station Casinos, Wall Street | 9 Comments

BoB still $29.99 … sorta

Posted on May 4, 2010 by David McKee

If you’re heading north out of McCarran International Airport on Swenson, be sure and have your digital cameras or cell phones at the ready. There, big as life, is a Harrah’s Entertainment billboard for the “Buffet of Buffets” (spotted at … Continue reading →

Posted in Dining, Economy, Entertainment, Harrah's, Station Casinos, The Strip | 1 Comment

Macao’s best month ever

Posted on May 3, 2010 by David McKee

Pace T.S. Eliot, April was not the cruelest month for Macao. Quite the contrary: The protectorate posted gambling revenues of $1.72 billion, a single-month record. Galaxy Entertainment (whose new Cotai Strip™ pleasure palace is pictured, above) brought up the rear, … Continue reading →

Posted in Current, Economy, International, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Regulation, Sheldon Adelson, Stanley Ho, Steve Wynn | Comments Off on Macao’s best month ever

Quote of the Day

Posted on May 3, 2010 by David McKee

“It’s not going to come back to 2006 and 2007, because people were spending more than they could afford then.” — Spectrum Gaming Group Managing Director Michael Pollock, administering a dose of realism to the casino industry.

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

Quote of the Day

Posted on April 30, 2010 by David McKee

“It is certainly time that we openly recognize that when a limited number of gambling licenses are up for bid, the winners will be the applicants who promise the state the most money, in upfront fees, massive construction projects and … Continue reading →

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