Category Archives: Fontainebleau

Good times ahead?

Posted on October 12, 2009 by David McKee

New Yorker economic columnist James Surowiecki puts current consumer-spending strends in perspective — and what he finds should gladden the hearts of casino owners. Basically, he finds historical evidence the current tendency toward thriftiness will soon pass. Of course, when … Continue reading →

Posted in Current, Detroit, Economy, Fontainebleau, Illinois, International, James Packer | Comments Off on Good times ahead?

What's a Trump casino worth?

Posted on October 8, 2009 by David McKee

Only $14 million in cash (plus a $100 million equity infusion), according to The Donald. Bondholders say, we’ll see your $115 million and raise you $100 million. The latter would recoup at least some — but not very much — … Continue reading →

Posted in Atlantic City, Baseball, Current, Donald Trump, Fontainebleau, Harrah's, Harry Reid, Horseracing, Illinois, International, Internet gambling, Lawrence Ho, M Resort, Macau, Massachusetts, Melco Crown Entertainment, Neil Bluhm, Ohio, Oklahoma, Penn National, Pennsylvania, Politics, Regulation, Sheldon Adelson, Slot routes, Sports, Station Casinos, Steve Wynn, Taxes, Texas, Tribal | Comments Off on What's a Trump casino worth?

$300 mil for F'bleau?

Posted on October 6, 2009 by David McKee

That’s the latest; namely, that Penn National Gaming will put down less than $300 million as a “stalking horse” bid on Fontainebleau. Penn would also be on the hook for the costs of the project’s bankruptcy proceedings. Potentially getting a … Continue reading →

Posted in CityCenter, Economy, Fontainebleau, Harry Reid, James Packer, Macau, MGM Mirage, Penn National, Politics, Sheldon Adelson, Steve Wynn, The Strip, Wall Street | Comments Off on $300 mil for F'bleau?

Scarlett saved?!? & other Case Bets

Posted on October 1, 2009 by David McKee

Splendid news, lads (and lasses). Scarlett, Princess of Magic may return to the Riviera in nine months or a year … that is to say, whenever the economy eventually rebounds. This comes straight from Riv management. Of course, there's a … Continue reading →

Posted in Donald Trump, Downtown, Economy, Entertainment, Environment, Fontainebleau, Penn National, Phil Ruffin, Riviera, The Strip, Tourism | Comments Off on Scarlett saved?!? & other Case Bets

Trop, Sands purges continue

Posted on September 30, 2009 by David McKee

It’s official: “Pit Bull of Comedy” Bobby Slayton has snarled his last at the Tropicana Las Vegas. Thus endeth a brief, inauspicious reign by Anthony Cools over the Trop’s upstairs showroom. A well-placed source advises LVA that Beatles tribute show … Continue reading →

Posted in Alex Yemenidjian, Architecture, Boyd Gaming, CityCenter, Cosmopolitan, Economy, Entertainment, Fontainebleau, George Maloof, Harrah's, MGM Mirage, Planet Hollywood, Station Casinos, The Strip, Tropicana Entertainment | Comments Off on Trop, Sands purges continue

Hell no, they won't; Penghu punk'd; Barbarians at the gates (again)

Posted on September 28, 2009 by David McKee

Pay taxes, that is. Two Indiana racinos are pushing back against a tax rate that averages 38%. Considering that the two tracks — one run by Cordish Gaming — are the newbies on the Hoosier State scene, one could fairly … Continue reading →

Posted in Alex Yemenidjian, Boyd Gaming, CityCenter, Cordish Co., Cosmopolitan, Fontainebleau, Harrah's, Horseracing, Indiana, International, MGM Mirage, Penn National, Riviera, Sheldon Adelson, Station Casinos, Steve Wynn, Taxes, The Strip, Tribal, Wall Street | Comments Off on Hell no, they won't; Penghu punk'd; Barbarians at the gates (again)

Penn hearts F'bleau … maybe

Posted on September 18, 2009 by David McKee

So the much-bruited suitor for stalled, bankrupt Fontainebleau has been "outed" and it's … Penn National Gaming. Ace reporter Alexandra Berzon, late of the Las Vegas Sun, broke the story. However, she notes that Penn and F'bleau have been dickering … Continue reading →

Posted in Current, Detroit, Economy, Entertainment, Fontainebleau, Harrah's, MGM Mirage, Penn National, Planet Hollywood, The Strip | Comments Off on Penn hearts F'bleau … maybe

Colony Capital comedy

Posted on August 21, 2009 by David McKee

Having borrowed money to buy the Las Vegas Hilton five years ago at a dirt-cheap $200 million, Colony Capital — those financial wizards — borrowed $250 million more to retire the first loan. (Does Colony intend to pay off the … Continue reading →

Posted in Boyd Gaming, Colony Capital, Fontainebleau, Harrah's, LVCVA, Penn National, Phil Ruffin, Plaza, Regulation, Steve Wynn | Comments Off on Colony Capital comedy

Just what the doctor ordered

Posted on August 19, 2009 by David McKee

With Eastern Division President Carlos Tolosa calling it a day, Harrah's Entertainment is dispatching Atlantic City native Don Marrandino to try and turn things around out there. (No word on whether the Alizma triplets will accompany him eastward.) Marrandino's portfolio … Continue reading →

Posted in Atlantic City, Boyd Gaming, CityCenter, Current, Economy, Fontainebleau, Harrah's, MGM Mirage, The Strip | Comments Off on Just what the doctor ordered

Colony Capital strikes (out) again; Big Bleauh

Posted on August 17, 2009 by David McKee

Despite taking a 22% gouge out of expenses, Colony Capital and its Goldman Sachs sidekicks managed to convert a 2Q08 profit to a $10.5 million 2Q09 loss. Revenues were down $30 million (or 40%), half of that from diminished room … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colony Capital, Current, Economy, Fontainebleau, Genting, Harrah's, Laughlin, Mesquite, Penn National, Planet Hollywood, Sheldon Adelson, Singapore, Steve Wynn, The Strip | Comments Off on Colony Capital strikes (out) again; Big Bleauh

The dream is dying

Posted on July 20, 2009 by David McKee

Just last week, UNLV‘s historical sage, Dr. Eugene Moehring, was taking a dim view of the fate of Las Vegas’ working class. Now comes the Wall Street Journal to back him up with some sobering reportage. Even at union salaries, Culinary … Continue reading →

Posted in Boyd Gaming, Colony Capital, Cosmopolitan, Economy, Encore, Fontainebleau, Harrah's, LVCVA, M Resort, MGM Mirage, Morgans Hotel Group, Plaza, Station Casinos, Steve Wynn, The Strip, Tourism, Wall Street | Comments Off on The dream is dying

Case Bets: F'bleau, Adelson, Oscar

Posted on July 17, 2009 by David McKee

Whether it's the banks or the subcontractors, somebody's going to take a big screwing at Fontainebleau. That's the nub of a new lawsuit, whereby developer Jeffrey Soffer asserts that Turnberry West Construction (which he also owns) has superior repayment rights … Continue reading →

Posted in Don Barden, Downtown, Entertainment, Fontainebleau, Macau, MGM Mirage, Movies, Oscar Goodman, Pennsylvania, Regulation, Sheldon Adelson, The Strip | Comments Off on Case Bets: F'bleau, Adelson, Oscar

Moulin Rouge: Whoops!

Posted on July 7, 2009 by David McKee

The Moulin Rouge development that will never be. Oh dear, oh dear. Seems like the City of Las Vegas unwittingly obstructed its own arson probe into the demise of the Moulin Rouge when it allowed the property to be immediately … Continue reading →

Posted in Animals, Architecture, Australia, Current, Downtown, Fontainebleau, International, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, Pets, Sheldon Adelson, Steve Wynn, The Strip, Wall Street | Comments Off on Moulin Rouge: Whoops!

Case Bets: CityCenter, W, Bernie Goldstein, Roger Thomas

Posted on July 7, 2009 by David McKee

Some rueful condo buyers are probably calling MGM Mirage‘s ultra-mega-super-duper resort “ShittyCenter,” judging by their ire. It’s difficult to know with whom to sympathize in this ongoing dispute. Condo depositors want to renegotiate prices (which range all the way up … Continue reading →

Posted in Architecture, California, Current, Economy, Encore, Fontainebleau, G2E, Harrah's, Isle of Capri, MGM Mirage, Steve Wynn, The Strip | Comments Off on Case Bets: CityCenter, W, Bernie Goldstein, Roger Thomas

House of wax

Posted on July 3, 2009 by David McKee

I call your bluff, comrade. As you may have heard, casinos in Russia can stay open by converting to poker rooms. A tip of the fedora goes to reader mike_ch for pointing out this story, which delineates some of the … Continue reading →

Posted in Architecture, Donald Trump, Entertainment, Fontainebleau, International, Penn National, Planet Hollywood, Regulation, Riviera, Sheldon Adelson, Sports, Station Casinos, The Strip, Tourism, TV | Comments Off on House of wax

Quote of the Day

Posted on June 29, 2009 by David McKee

“The opening date never moved. We always threw more money at it. You just have people work overtime to fix problems. We were building, redesigning, tearing stuff out and starting again.” — Fontainebleau engineer, explaining how the project (which is … Continue reading →

Posted in Architecture, Fontainebleau, The Strip | Comments Off on Quote of the Day

Quote of the Day

Posted on June 29, 2009 by David McKee

“The opening date never moved. We always threw more money at it. You just have people work overtime to fix problems. We were building, redesigning, tearing stuff out and starting again.” — Fontainebleau engineer, explaining how the project (which is … Continue reading →

Posted in Architecture, Fontainebleau, The Strip | Comments Off on Quote of the Day

By request …

Posted on June 24, 2009 by David McKee

'Tis another day of hopscotching betwixt the doctor and the dentist, which sure cuts into quality blogging time (as did a nasty attack of fibromyalgia yesterday). However, by reader request, we present this special, (not) exclusive S&G photo of a … Continue reading →

Posted in Boyd Gaming, Cosmopolitan, Fontainebleau, Harrah's, Steve Wynn | Comments Off on By request …

F'bleau: another triumph for Packer

Posted on June 10, 2009 by David McKee

James Packer sure knows how to pick ’em, doesn’t he? He’s just written off $250 million invested in (read: “wasted on”) Fontainebleau. His Crown Ltd. also took the opportunity to kick F’bleau while it’s down, stating it felt “no obligation … Continue reading →

Posted in Cannery Casino Resorts, Current, Fontainebleau, James Packer, The Strip | Comments Off on F'bleau: another triumph for Packer

The MGM/Pansy Ho verdict: It's in and it's bad

Posted on May 19, 2009 by David McKee

After nearly four years of investigation, the New Jersey Division of Gaming Enforcement has released its long-awaited “suitability” findings on MGM Mirage joint-venture partner Pansy Ho. As MGM itself reported to the SEC yesterday, “While the report itself is confidential, … Continue reading →

Posted in Atlantic City, Boyd Gaming, Columbia Sussex, Cosmopolitan, Current, Fontainebleau, Harrah's, Macau, MGM Mirage, Planet Hollywood, Regulation, Stanley Ho, The Strip, Tropicana Entertainment, Wall Street | Comments Off on The MGM/Pansy Ho verdict: It's in and it's bad