Category Archives: Economy

Who’s crazier: Adelson or Florida?

Posted on March 12, 2010 by David McKee

Pay no attention to the over-budget, behind-schedule megaresort in the background. Six casinos at $2 billion apiece. No joking, that’s what a Sheldon Adelson flunky is proposing in Florida. (I guess the white-out of Atlantic City isn’t the only snow … Continue reading →

Posted in Atlantic City, Current, Economy, Macau, Pennsylvania, Politics, Sheldon Adelson, Singapore, Taxes, The Strip | 4 Comments

White-out in Atlantic City

Posted on March 11, 2010 by David McKee

Thirty-seven inches of snow in February was a problem Atlantic City could do very well without. While the white stuff takes some of the edge off the sobering realization that the Boardwalk is -34% since February 2006, you know the … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Colony Capital, Columbia Sussex, Current, Donald Trump, Economy, Harrah's, MGM Mirage, Pennsylvania, Tropicana Entertainment | Comments Off on White-out in Atlantic City

This is getting nasty

Posted on March 11, 2010 by David McKee

Update: S&G sends its condolences to Sen. Reid after his wife and daughter were severely injured in an automobile accident this afternoon. Back when Archon Corp. Treasurer Sue Lowden (left) threw her hat into the 2010 U.S. Senate race, I … Continue reading →

Posted in Archon Corp., CityCenter, Current, Economy, Election, Harry Reid, Labor, Laughlin, Marketing, MGM Mirage, Sheldon Adelson, TV | 1 Comment

First, the good news …

Posted on March 11, 2010 by David McKee

Congratulations to MGM Mirage for being named, for the fourth time in five years, to DiversityInc‘s “Top 50 Companies for Diversity.” Like predecessor J. Terrence Lanni, not only does CEO Jim Murren say the right things (“As long as I … Continue reading →

Posted in Current, Economy, Internet gambling, MGM Mirage, New York, Penn National, Politics, Racinos, Regulation, Sahara, Sheldon Adelson, Sports, The Strip, Wall Street | Comments Off on First, the good news …

Rocky Mountain Low

Posted on March 10, 2010 by David McKee

The Great Recession continues to weed out the sick and the lame of the casino industry. As with Missouri‘s loss-limit repeal, similar measures in Colorado (detailed above) came along too late in the game. There’s only so much state governments … Continue reading →

Posted in Colorado, Current, Economy, Missouri, Regulation | Comments Off on Rocky Mountain Low

Pennsylvania: Give Adelson a break; Harrah’s latest excuses

Posted on March 9, 2010 by David McKee

While principle dictates that Las Vegas Sands ought to be held to the terms of its agreement with the State of Pennsylvania, recent developments give one pause. Namely, why should Steve Wynn get favorable treatment enjoyed by no other casino … Continue reading →

Posted in Atlantic City, Boyd Gaming, Columbia Sussex, Economy, George Maloof, Harrah's, Illinois, Louisiana, Neil Bluhm, Pennsylvania, Politics, Regulation, Sheldon Adelson, Station Casinos, Steve Wynn, Tribal, Wall Street | 3 Comments

Quote of the Day

Posted on March 9, 2010 by David McKee

“There will undoubtedly be tough sledding ahead for Atlantic City, especially in light of the increasing competition from neighboring states. However, I believe that Atlantic City, with its beautiful beaches, can again become a premier destination resort.” — Carl Icahn, … Continue reading →

Posted in Atlantic City, Carl Icahn, Columbia Sussex, Current, Economy, Regulation, Tropicana Entertainment | 3 Comments

News in my backyard

Posted on March 9, 2010 by David McKee

Well, not literally in it but damn close. From our rear windows we can see the former Liberace mansion that now goes by the name of Las Vegas Villa. It’s a large but otherwise unobtrusive neighbor in a very quiet … Continue reading →

Posted in Current, Economy, Entertainment | 1 Comment

Did my eyes deceive me …

Posted on March 8, 2010 by David McKee

… or was that the skeleton of Echelon which was used to illustrate Nevada’s economic woes in the TV spot that Sen. Harry Reid (D-NV) is running this week? That’s no outrage in and of itself: Echelon was a casualty … Continue reading →

Posted in Archon Corp., Boyd Gaming, CityCenter, Current, Economy, Election, Harry Reid, Marketing, MGM Mirage, Politics, Sheldon Adelson, The Strip, TV | 2 Comments

Quote of the Day

Posted on March 6, 2010 by David McKee

“Having now been hit by the worst recession in American history and the worst downturn in gaming revenues in Nevada history, we can simply no longer afford to bear the overwhelming share of the burden for running the state.” — … Continue reading →

Posted in Economy, MGM Mirage, Regulation, Taxes | 3 Comments

Quote of the Day

Posted on March 5, 2010 by David McKee

“… only 36,000 people lost their jobs today, which is really good.” — Sen. Harry Reid (D-NV). Um, “really good” for whom, might we ask?

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

From the mailbag

Posted on March 3, 2010 by David McKee

One S&G reader took great exception to some comments that Harrah’s Entertainment CEO Gary Loveman made to Reuters: “He said that hotel rates had got so cheap in Vegas — $89 a night for a room at a very nice … Continue reading →

Posted in Economy, Harrah's, The Strip | 4 Comments

The good, the bad & the very ugly photo

Posted on March 2, 2010 by David McKee

For perhaps the first time in his career, Steve Wynn is being called “cheesy.” It’s in connection with his new Philadelphia casino project, the erstwhile Foxwoods. (If, has been mooted, it’s just called “S.W.“, that would be pretentious but not … Continue reading →

Posted in Cannery Casino Resorts, Economy, Harrah's, Neil Bluhm, Penn National, Pennsylvania, Politics, Regulation, Sheldon Adelson, Steve Wynn, Tribal, Wall Street | 10 Comments

Quote of the Day

Posted on March 2, 2010 by David McKee

“I have a special place in my heart for Atlantic City. Atlantic City will reach new heights when the economy turns around.” — TV star and sometime casino owner Donald Trump, who apparently is privy to economic indicators unavailable to … Continue reading →

Posted in Atlantic City, Donald Trump, Economy | 2 Comments

Macao’s big ass-month

Posted on March 1, 2010 by David McKee

Casinos in Macao blew way past expectations, raking in $1.6 billion last month (a 70% increase). Stanley Ho‘s SJM widened its lead on Las Vegas Sands, although the latter had more market share (20%) than MGM Grand Macau and Galaxy … Continue reading →

Posted in Architecture, Atlantic City, Economy, Environment, Florida, Genting, Harrah's, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Politics, Racinos, Regulation, Sheldon Adelson, Singapore, Stanley Ho, Steve Wynn, The Strip, Tribal, Wall Street | Comments Off on Macao’s big ass-month

Sands backslides, backpedals in Pennsylvania

Posted on March 1, 2010 by David McKee

Wow, there’s nothing like the rumor of an in-progress sale to light a fire under Las Vegas Sands to restart its desultory Sands Bethlehem. Sands CEO Sheldon Adelson tries to imply that resumption of the hotel is contingent upon getting … Continue reading →

Posted in Columbia Sussex, Economy, Entertainment, Harrah's, Lake Las Vegas, Macau, Massachusetts, Midnight Jim Gibbons, Pennsylvania, Politics, Regulation, Sheldon Adelson, Taxes, The Strip | 6 Comments

Case Bets: “Viva Elvis,” Loveman in Macao, Icahn in A.C., etc.

Posted on February 24, 2010 by David McKee

Viva Elvis vs. Love. The Sun‘s John Katsilometes pivots it to a question of “Whose music is better?” I’m not going there but I think he really nails why one show seemed right up Cirque du Soleil‘s alley while the … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, Carl Icahn, Cirque du Soleil, CityCenter, Current, Don Barden, Donald Trump, Economy, Entertainment, Harrah's, Indiana, International, Isle of Capri, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Racinos, Regulation, Sheldon Adelson, Stanley Ho, Tribal, Tropicana Entertainment | 5 Comments

Adelson, Earl & a paper tiger

Posted on February 24, 2010 by David McKee

Opening a drowsy eye, the Las Vegas Review-Journal belatedly took note of Las Vegas Sands‘ Singapore project, although the story was just a puff piece (perhaps because its writer used to toil in Vegas’ PR shops, including a stint at … Continue reading →

Posted in Archon Corp., Current, Economy, Genting, Harrah's, Lake Las Vegas, Planet Hollywood, Regulation, Sheldon Adelson, Singapore, Station Casinos, Steve Wynn, Wall Street | Comments Off on Adelson, Earl & a paper tiger

Case Bets: Boyd speaks, Kansas stalls & problem gamblers get the shaft

Posted on February 23, 2010 by David McKee

Boyd Gaming CEO Keith Smith weighs in on the subject of emerging markets. Significant by its omission: Florida. Boyd got its fingers burnt down there and knows better than some in the industry that it’s not the Land of Opportunity … Continue reading →

Posted in Atlantic City, Boyd Gaming, Current, Detroit, Economy, Florida, Kansas, Lyle Berman, Midnight Jim Gibbons, Politics, Problem gambling, Regulation, Sheldon Adelson, Tamares Group, Tribal | Comments Off on Case Bets: Boyd speaks, Kansas stalls & problem gamblers get the shaft

Penn: “You stupid darkness!”

Posted on February 22, 2010 by David McKee

In one of my absolute favorite Peanuts strips, Charlie Brown finds Linus out in the night, carrying a taper. Asked to explain, Linus replies that it’s better to light a single candle than curse the darkness. Cut to Lucy, elsewhere, … Continue reading →

Posted in Current, Economy, Maryland, Ohio, Penn National, Pennsylvania, The Strip, Wall Street | 3 Comments