Category Archives: GLPI

Pinnacle/GLPI deal gets OK; Hard Rock courts Cypriots

Posted on March 16, 2016 by David McKee

Shareholders of Pinnacle Entertainment have voted to approve a deal whereby all but one of the company’s physical assets would be sold to real estate investment trust Gaming & Leisure Properties, while Pinnacle would continue to exist as a casino-management company. … Continue reading →

Posted in Eldorado Resorts, Foxwoods, GLPI, Hard Rock Hotel, Indiana, International, Lawrence Ho, Louisiana, Massachusetts, MGM Mirage, Mohegan Sun, Ohio, Penn National, Philippines, Pinnacle Entertainment, Racinos, Regulation, Reno, Tribal, Unite-Here, Wall Street, West Virginia | 1 Comment

Doldrums in Louisiana; Free play imperiled in Pennsylvania

Posted on March 14, 2016 by David McKee

Louisiana gaming revenues, aided by Leap Day, were flat last month, which is pretty surprising because most of the brand names had revenue-negative months. Lake Charles led the state with $74 million. Golden Nugget had a signal month, up 37% … Continue reading →

Posted in Boyd Gaming, Churchill Downs, Eldorado Resorts, Election, GLPI, Greenwood Racing, Harrah's, Horseracing, Idaho, Isle of Capri, Louisiana, Maine, Penn National, Pennsylvania, Pinnacle Entertainment, Taxes, Tilman Fertitta, Tropicana Entertainment, West Virginia | Comments Off on Doldrums in Louisiana; Free play imperiled in Pennsylvania

Wynn, Sands, Penn meet the Street

Posted on March 11, 2016 by David McKee

JP Morgan analyst Joseph Greff has had a busy week, meeting with most of the top companies in gaming. First up was Penn National Gaming, which had little new to report on the Tropicana Las Vegas other than it was … Continue reading →

Posted in Economy, GLPI, Illinois, M Resort, Macau, Marketing, Massachusetts, Mississippi, Penn National, Sheldon Adelson, Singapore, Slot routes, Steve Wynn, The Strip, Wall Street | Comments Off on Wynn, Sands, Penn meet the Street

Illinois casinos stave off competition; Palms potentially for sale

Posted on March 7, 2016 by David McKee

Despite being increasingly besieged by slot routes, Illinois casinos had a good February, up 5%. Foot traffic was 3% higher and customer spending rose 2%.  Two operators had revenue-negative months, with MGM Resorts International off 1% at Grand Victoria Elgin, while … Continue reading →

Posted in Boyd Gaming, Carl Icahn, Entertainment, Fontainebleau, George Maloof, GLPI, Harrah's, Illinois, Macau, MGM Mirage, Neil Bluhm, Penn National, Slot routes, Steve Wynn, The Strip, Wall Street | 2 Comments

Painful progress for Seminole compact; Casinos dead in Georgia

Posted on March 1, 2016 by David McKee

It will be back to the negotiating table for Florida Gov. Rick Scott (R), if a state House of Representatives version of the compact with Seminole Tribe is accepted in the state Senate. The compromise version of the compact adds slots … Continue reading →

Posted in Florida, Georgia, GLPI, Horseracing, Maryland, Massachusetts, MGM Mirage, Penn National, Pinnacle Entertainment, Politics, Racinos, Regulation, Rhode Island, Seminole Tribe, Sheldon Adelson, Tourism, Unite-Here | 2 Comments

Illinois beats the odds; MGM goes au naturel

Posted on February 8, 2016 by David McKee

Well, here’s a novel piece of news out of Illinois, where it always seems that gloom and doom hold sway. Gaming revenues were up 2% last month. That’s even more impressive when you consider that it’s being measured against a … Continue reading →

Posted in Boyd Gaming, Culinary Union, Entertainment, Environment, GLPI, Harrah's, Illinois, MGM Mirage, Neil Bluhm, Nevada, Penn National, Technology, The Strip, Transportation, Wall Street | Comments Off on Illinois beats the odds; MGM goes au naturel

Lean Christmas in Louisiana; Greater vigilance in industry

Posted on January 22, 2016 by David McKee

Louisiana gaming revenues came in for a hard landing (-7.5%) as the Golden Nugget Lake Charles marked its first anniversary. The New Orleans market (-13.5%) took it worst, although Lake Charles was down 12%. The latter continues to be the … Continue reading →

Posted in Boyd Gaming, Churchill Downs, Economy, GLPI, Harrah's, Isle of Capri, Louisiana, Pinnacle Entertainment, Racinos, Regulation, Tilman Fertitta, Tropicana Entertainment | Comments Off on Lean Christmas in Louisiana; Greater vigilance in industry

Seminoles take to the air; Trop exec vanishes

Posted on January 20, 2016 by David McKee

Florida‘s Seminole Tribe is taking its case to the people, as its new compact with Gov. Rick Scott (R) faces an uphill slog in the Legislature. The compact is such a Rube Goldberg contraption, with so many moving parts, you … Continue reading →

Posted in Delaware, Florida, GLPI, Harrah's, Indiana, Internet gambling, Marketing, Missouri, Pennsylvania, Pinnacle Entertainment, Politics, Regulation, Seminole Tribe, Tropicana Entertainment, TV | Comments Off on Seminoles take to the air; Trop exec vanishes

Big contract from Wynn; Parking debate continues

Posted on January 19, 2016 by David McKee

Wynn Resorts bought locally in its search for a Wynn Everett general contractor. It has let the $1 billion construction contract to Suffolk Construction, biggest in Massachusetts. By choosing a Boston company for this seven-figure deal (plus 4,000 jobs), perhaps … Continue reading →

Posted in California, Florida, GLPI, International, Iowa, Lawrence Ho, Marketing, Massachusetts, MGM Mirage, Missouri, Pinnacle Entertainment, Regulation, Steve Wynn, Technology, The Strip, Tourism, Transportation, Tribal | 2 Comments

Illinois down, Indiana up

Posted on January 8, 2016 by David McKee

While surrounding states prosper at their casinos, Illinois‘ continue to suffer, especially now that they must compete with slot routes. Deutsche Bank analyst Carlo Santarelli crunched the numbers and found that even though bettors were wagering 2% more, there was … Continue reading →

Posted in Ameristar, Boyd Gaming, Dan Lee, GLPI, Harrah's, Illinois, Indiana, MGM Mirage, Neil Bluhm, Penn National, Pinnacle Entertainment, Racinos, Tropicana Entertainment | Comments Off on Illinois down, Indiana up

GLPI gets a racino; Reckless casino rhetoric

Posted on December 16, 2015 by David McKee

After over a year of litigation, Gaming & Leisure Properties has come to terms with Cannery Casino Resorts over the sale of Meadows Racetrack, near Pittsburgh. (Next step for GLPI, find an operator. Penn National Gaming? Pinnacle Entertainment?) Considering that … Continue reading →

Posted in Boyd Gaming, Cannery Casino Resorts, Dining, Election, GLPI, Harrah's, Maryland, Movies, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Sheldon Adelson, Station Casinos, Wall Street | 1 Comment

Louisiana: Robbing Peter to play Paul; New disclosures from Genting

Posted on December 11, 2015 by David McKee

Were it not for the Golden Nugget Lake Charles, gaming revenues would have stumbled 7.5% downward last month. Add Tilman Fertitta‘s new showplace, which grossed $20 million, and you have a 15% increase in the Lake Charles market. But, as … Continue reading →

Posted in Boyd Gaming, Eldorado Resorts, Genting, GLPI, Harrah's, Isle of Capri, Louisiana, Pinnacle Entertainment, Rhode Island, The Strip, Tilman Fertitta, Tropicana Entertainment | 1 Comment

No misery in Missouri; Packer’s Vegas venture in question

Posted on December 10, 2015 by David McKee

November was a tranquil month for Missouri casinos, exemplified by Penn National Gaming‘s Argosy Riverside, in Kansas City, dead even with last year. Statewide, foot traffic was down 5% and spending up 6%, particularly at table games, where winnings rose … Continue reading →

Posted in Ameristar, Florida, GLPI, Harrah's, Internet gambling, Isle of Capri, James Packer, Missouri, Penn National, Pinnacle Entertainment, Politics, Seminole Tribe, The Strip, Tribal, Tropicana Entertainment, Wall Street | 1 Comment

Continued erosion in Illinois

Posted on December 7, 2015 by David McKee

Illinois gamblers visited measurably less (-8%) and spent slightly more (+3%), as casino business in the Land of Lincoln took a 5% dip in November. The calendar had one less weekend day than last year, which surely didn’t help. Even … Continue reading →

Posted in Boyd Gaming, Economy, GLPI, Harrah's, Illinois, MGM Mirage, Movies, Neil Bluhm, Penn National | 1 Comment

Tohono O’odham win again; Union tackles REIT craze

Posted on November 12, 2015 by David McKee

Forces opposed to the Tohono O’odham Nation‘s attempts to build a casino (due to open Dec. 20) suffered yet another defeat — the 18th, by the tribe’s count — when the Ninth Circuit Court of Appeals tossed out a particularly … Continue reading →

Posted in Ameristar, Arizona, GLPI, Indiana, Mississippi, Missouri, Penn National, Pinnacle Entertainment, Regulation, Tribal | Comments Off on Tohono O’odham win again; Union tackles REIT craze

Phil Ruffin, International Man of Mystery; Another day, another DFS probe

Posted on November 12, 2015 by David McKee

So now we know where those The Mirage-is-for-sale rumors were coming from. Seems that the place really was not for sale, although Phil Ruffin wished it was, to the tune of $1.3 billion. And, as badly as MGM Resorts International … Continue reading →

Posted in Atlantic City, Donald Trump, GLPI, Internet gambling, Macau, MGM Mirage, Phil Ruffin, Politics, Regulation, Sports, Stanley Ho, The Strip, Wall Street | Comments Off on Phil Ruffin, International Man of Mystery; Another day, another DFS probe

Bluhm thinks big in Massachusetts; Cautious optimism in Illinois

Posted on November 6, 2015 by David McKee

Never accuse Neil Bluhm of thinking small. His Mass Gaming & Entertainment has published some eye-popping projections as part of a 200-page casino application to the State of Massachusetts. Despite nearby competition from Plainridge and Rhode Island, Bluhm is projecting … Continue reading →

Posted in Architecture, Boyd Gaming, GLPI, Harrah's, Illinois, Internet gambling, Massachusetts, MGM Mirage, Neil Bluhm, Penn National, Politics, Regulation, Tribal | Comments Off on Bluhm thinks big in Massachusetts; Cautious optimism in Illinois

Caesars: (Almost) everything must go; More angst in Macao

Posted on October 27, 2015 by David McKee

Well, it had to happen eventually. In order to escape bankruptcy, Caesars Entertainment is putting Caesars Entertainment Operating Co. on the market. There are some who are calling this a bluff and others who can’t afford to get in on … Continue reading →

Posted in Atlantic City, Boyd Gaming, California, Economy, GLPI, Harrah's, Illinois, Indiana, International, Iowa, Lake Tahoe, Lawrence Ho, Louisiana, Marketing, Melco Crown Entertainment, MGM Mirage, Mississippi, Missouri, Ohio, Penn National, Philippines, Regulation, Reno, Sheldon Adelson, Stanley Ho, Steve Wynn, The Strip, Tribal, Wall Street | 1 Comment

All’s well at Penn; Mulroy’s misdeed; Discomfort at Studio City

Posted on October 22, 2015 by David McKee

Penn National Gaming pleasantly surprised Wall Street, reporting third-quarter revenue of $739 million and $210 million in cash flow, exceeding projections by $8 million and $11 million, respectively. It paid out $109 million in rent to Gaming & Leisure Properties … Continue reading →

Posted in California, Economy, Galaxy Entertainment, GLPI, Illinois, Lawrence Ho, Macau, Marketing, Massachusetts, Melco Crown Entertainment, MGM Mirage, Missouri, Ohio, Penn National, Regulation, Sports, Steve Wynn, The Strip, Tribal, Wall Street | Comments Off on All’s well at Penn; Mulroy’s misdeed; Discomfort at Studio City

Buckeye bounce; Macao’s woes a secret benefit?

Posted on October 7, 2015 by David McKee

Casino and racino revenues in Ohio were up nicely last month, +6.5%. We’re still at least a month away from having a full set of year/year comparisons but Gov. John Kasich‘s decision to supersize a four-casinos-only constitutional amendment into four casinos … Continue reading →

Posted in Dan Gilbert, Economy, Eldorado Resorts, GLPI, Hard Rock International, Harrah's, Macau, Ohio, Penn National, Pinnacle Entertainment, Racinos, Steve Wynn | Comments Off on Buckeye bounce; Macao’s woes a secret benefit?