Category Archives: Economy

Quote of the Day

Posted on February 2, 2010 by David McKee

“When times are tough, you tighten your belts. You don’t go buying a boat when you can barely pay your mortgage. You don’t blow a bunch of cash in Vegas when you’re trying to save for college.” — President Barack … Continue reading →

Posted in Current, Economy, Midnight Jim Gibbons, Politics | 5 Comments

Quote of the Day

Posted on February 1, 2010 by David McKee

“What we’re seeing emerge here in Nevada is an economy that will not repeat the boom-like conditions that we saw just a few short years ago. I doubt very much in my lifetime we’re ever going to see consistent job … Continue reading →

Posted in Current, Economy, Labor, The Strip | 2 Comments

Quote of the Day

Posted on January 29, 2010 by David McKee

“Bidder for Fontainebleau says Las Vegas probably a bit overbuilt” — caption for Las Vegas Review-Journal story about Carl Icahn‘s F-bleau acquistion. “Probably a bit overbuilt” … now there’s a masterful understatement.

Posted in Carl Icahn, Economy, Fontainebleau, The Strip, Wall Street | 2 Comments

Thinking small

Posted on January 29, 2010 by David McKee

A new analysis of the White House‘s latest set of proposed economic stimuli tells us not to expect much … and why. Since the main target for pump-priming is small business, we’ll not expect much of any direct benefit to … Continue reading →

Posted in Atlantic City, Current, Economy, The Strip | 4 Comments

Garth: That’s the way it is

Posted on January 28, 2010 by David McKee

Amid all the ink that’s been spilled about the phenomenon that is Garth Brooks at Wynncore, we have a winner. No review is more eloquent, detailed or well-observed than the one newly penned by my estimable CityLife colleague Mike Prevatt. … Continue reading →

Posted in Alex Yemenidjian, Economy, Election, Encore, Entertainment, MGM Mirage, Midnight Jim Gibbons, Oscar Goodman, Steve Wynn, Taxes, The Strip, Wayne F. Newton | 1 Comment

Quote of the Day

Posted on January 28, 2010 by David McKee

“[President Barack] Obama‘s team, content to have bailed out Wall Street, seem to now run the rest of the economy on a cash accounting basis. That’s bad, self-defeating policy.” — The Washington Note Publisher Steve Clemons, accusing the White House … Continue reading →

Posted in Economy, International, Macau, Midnight Jim Gibbons, Politics, Transportation, Wall Street | Comments Off on Quote of the Day

Ghost town

Posted on January 22, 2010 by David McKee

Economic forecasting is a forbiddingly tricky science but you still have to wonder what convinced MGM Mirage that there was either A) an unabated market for ultra-high-end retail in Las Vegas or B) that such demand as already existed could … Continue reading →

Posted in Architecture, CityCenter, Current, Dining, Economy, Entertainment, George Maloof, MGM Mirage, The Strip, Tourism | 7 Comments

More from the mailbag …

Posted on January 22, 2010 by David McKee

Here’s some inside insight into what was happening during the most recent Consumer Electronics Show, during which Las Vegas Sands tossed some exhibitors from their Venelazzo suites because they were conducting product demos off the show floor. A show attendee … Continue reading →

Posted in Current, Economy, Sheldon Adelson, Technology, The Strip, Tourism | 1 Comment

Wynn getting into bargain race

Posted on January 20, 2010 by David McKee

With MGM Mirage aggressively discounting its Strip properties, it was only so long before Wynn Resorts had to enter the chase. It’s taking the form of a 25% “early savings” markdown that you get if you book your room 45 … Continue reading →

Posted in Current, Economy, Entertainment, Midnight Jim Gibbons, Steve Wynn, The Strip | 1 Comment

Case Bets: Net Bets, Harrah’s money grab & why China matters

Posted on January 20, 2010 by David McKee

Mark Juliano, CEO of Trump Entertainment Resorts, has been all over the papers lately. First, he came out in support of a massive taxpayer subsidy (backed by two unions) that would forgive Revel 75% of its room and sales taxes … Continue reading →

Posted in Atlantic City, Current, Donald Trump, Economy, Harrah's, Horseracing, International, Internet gambling, Macau, MGM Mirage, Midnight Jim Gibbons, Politics, Racinos, Regulation, Taxes, The Strip | 3 Comments

Planet Ho abdicates to Harrah’s

Posted on January 15, 2010 by David McKee

Sheraton Operating Corp. is bugging out of Planet Hollywood Resort — which has already lost some of its top management — and handing the keys to Harrah’s Entertainment. The latter will have something of a challenge filling the nearly 2,500 … Continue reading →

Posted in Carl Icahn, CityCenter, Cosmopolitan, Current, Economy, Fontainebleau, Harrah's, International, Marketing, Penn National, Planet Hollywood, The Strip, Wall Street | 4 Comments

Quote of the Day

Posted on January 15, 2010 by David McKee

“Therefore, it is imperative that you encourage President Obama to publicly acknowledge that Las Vegas and all of Nevada is a wonderful place for business or pleasure and that Americans should visit and conduct business in Nevada.” — demand made … Continue reading →

Posted in California, Cretins, Current, Economy, Election, Harry Reid, Midnight Jim Gibbons, Politics | Comments Off on Quote of the Day

This just in …

Posted on January 13, 2010 by David McKee

A colleague writes … “Aliante Station is currently charging more than Caesars Palace for rooms???* No wonder Station Casinos are in trouble! What kind of a “special offer” is $135/night?!” (* … and only $4 less than Vdara.)

Posted in CityCenter, Current, Economy, Harrah's, MGM Mirage, North Las Vegas, Station Casinos, The Strip | 1 Comment

Quote of the Day

Posted on January 13, 2010 by David McKee

“Atlantic City has a lot to offer visitors in addition to gambling. When the economy improves and people have more money to spend on entertainment, Atlantic City will draw more and more people interested in visiting our shops, enjoying a … Continue reading →

Posted in Atlantic City, Economy, Steve Wynn, Tourism | 8 Comments

From the S&G Twitter feed …

Posted on January 12, 2010 by David McKee

For those of you who aren’t following it, here’s what you’ve been missing: • Station [Casinos] shuts Cherry @ Red Rock [Resort], ends flirtation w. Strip-ish nightlife. In Summerlin? Right casino, wrong place. http://tinyurl.com/ye36uqm • @IOC_Brand Jim Perry, Virginia McDowell … Continue reading →

Posted in California, CityCenter, Current, Economy, Election, Entertainment, Florida, Harrah's, IGT, International, Isle of Capri, Kansas, Lyle Berman, Mississippi, Politics, Regulation, Station Casinos, Technology, TV | Comments Off on From the S&G Twitter feed …

Money quote

Posted on January 12, 2010 by David McKee

“Even so, some experts say that it might be a blessing in disguise that Macau wasn’t overly reliant on entertainment-related revenue during the downturn. Analysts point out that one reason Las Vegas casinos have yet to recover is that U.S. … Continue reading →

Posted in Dining, Economy, Entertainment, International, Macau, Sheldon Adelson, Steve Wynn, The Strip | Comments Off on Money quote

California, by the numbers

Posted on January 12, 2010 by David McKee

Capitol Weekly breaks down the vital statistics of California’s tribal-casino industry, in case you were curious. Gov. Arnold Schwarzenegger (R) needn’t worry about additional slot capacity causing traffic jams and more crime: Golden State tribal casinos are mired in a … Continue reading →

Posted in California, Economy, Politics, Tribal | 2 Comments

Big payoff for Pennsylvania

Posted on January 12, 2010 by David McKee

Gov. Ed Rendell (D) and other state leaders have got to be feeling the love for the Keystone State‘s budding casino industry, which generated over $1 billion in tax revenue last year. That boffo return was achieved without table games … Continue reading →

Posted in Boyd Gaming, Cannery Casino Resorts, Economy, Harrah's, IGT, Indiana, Kentucky, MGM Mirage, Neil Bluhm, Ohio, Penn National, Pennsylvania, Politics, Racinos, Reno, Sheldon Adelson, Taxes, Technology, Tribal, Tropicana Entertainment, TV | 2 Comments

Back to normal

Posted on January 12, 2010 by David McKee

For starters, let’s just write off 2006-7 as an aberration. While dancing in the streets is premature, Nevada‘s casino revenues from November ($873 million) at least give us an excuse to breathe a sigh of relief — especially when other … Continue reading →

Posted in Atlantic City, Boulder Strip, Current, Downtown, Economy, Harrah's, Illinois, Indiana, Lake Tahoe, Missouri, North Las Vegas, The Strip, Wall Street | 1 Comment

That casino smell

Posted on January 11, 2010 by David McKee

As you step through the front doors of Aria‘s check-in foyer, a too-heavy musk is jammed up your nostrils. It smells like the same suffocating attar that’s employed in Venelazzo, except maybe heavier. The good news is that if you … Continue reading →

Posted in Archon Corp., Atlantic City, Baseball, CityCenter, Current, Economy, Florida, Harry Reid, Marketing, MGM Mirage, Politics, Sheldon Adelson, Sports | 4 Comments