Category Archives: GLPI

Freeman takes aim; Pinnacle commands high price

Posted on April 15, 2015 by David McKee

Geoff Freeman continues his aggressive agenda at the American Gaming Association. In a move possibly intended to take the heat off American online casinos, he’ll calling for — and promising the AGA will take the lead in — a beatdown … Continue reading →

Posted in Geoff Freeman, GLPI, Internet gambling, MGM Mirage, Mississippi, Pinnacle Entertainment, Regulation, Sheldon Adelson, Sports, Taxes, Wall Street | Comments Off on Freeman takes aim; Pinnacle commands high price

Misery in Macao; Penn’s good fortune

Posted on April 7, 2015 by David McKee

Macao took such a hard hit last month that distinction lies not in which casino did best but whose business was least bad. And, with the territorial government promising to help Peking further ratchet up its anti-graft campaign, Operation Skynet, … Continue reading →

Posted in Boyd Gaming, Economy, GLPI, Hard Rock International, Harrah's, Illinois, Macau, MGM Mirage, Neil Bluhm, Ohio, Penn National, Regulation, Sheldon Adelson, Steve Wynn | Comments Off on Misery in Macao; Penn’s good fortune

Penn National exits major project

Posted on March 31, 2015 by David McKee

There’s one casino license left in Pennsylvania but favorite son Penn National Gaming won’t be the one developing it. “We are disappointed to be withdrawing from this project. However, given the continued softness in the economy and the level of market saturation … Continue reading →

Posted in Cannery Casino Resorts, Foxwoods, GLPI, Harrah's, Isle of Capri, New York, Ohio, Oklahoma, Penn National, Pennsylvania, Racinos, Technology, Tribal | Comments Off on Penn National exits major project

Nugget drives Louisiana; Sauce for the goose in Pennsylvania

Posted on March 19, 2015 by David McKee

Subtract the Golden Nugget Lake Charles from last month’s Louisiana gambling revenues and they’re absolutely flat with 2014. Two wannabe REITs went in opposite directions. Pinnacle Entertainment‘s aggregate Pelican State casinos were up 9% while Caesars Entertainment got hammered, down … Continue reading →

Posted in Boyd Gaming, Churchill Downs, GLPI, Greenwood Racing, Harrah's, Internet gambling, Isle of Capri, Marketing, Neil Bluhm, Pennsylvania, Pinnacle Entertainment, Politics, Racinos, Regulation, Sheldon Adelson, Taxes, Technology, Tilman Fertitta, Tropicana Entertainment | Comments Off on Nugget drives Louisiana; Sauce for the goose in Pennsylvania

What’s Pinnacle worth?; Trump dump

Posted on March 18, 2015 by David McKee

J.P. Morgan analyst Joseph Greff has been running the numbers on Gaming & Leisure Properties‘ hostile-takeover bid for Pinnacle Entertainment and concluded — no surprise — that the current offer won’t get the deal done, even if Pinnacle leadership will … Continue reading →

Posted in Boyd Gaming, Current, Donald Trump, GLPI, MGM Mirage, Penn National, Pinnacle Entertainment, TV, Wall Street | 1 Comment

Adelson vs. lottery; Big weekend at SLS

Posted on March 11, 2015 by David McKee

Proving that gaming is the only taxable udder on which the Nevada Legislature dares tug, Assemblyman Harvey Munford has proposed a state lottery. The purported use of lottery proceeds would be to help senior citizens and support public education. “The … Continue reading →

Posted in Ameristar, Entertainment, GLPI, Harrah's, Illinois, MGM Mirage, Missouri, Pinnacle Entertainment, Politics, Regulation, Sam Nazarian, Sheldon Adelson, The Strip | 1 Comment

GLPI makes play for Pinnacle; Caesars aims to dismantle casino

Posted on March 9, 2015 by David McKee

Gaming & Leisure Properties‘ track record to date has been unimpressive, its big acquisition play being underperforming Casino Queen in East St. Louis. Contrast that with GLPI’s boastful talk that the phone would be ringing off the hook with purchase … Continue reading →

Posted in Entertainment, GLPI, Harrah's, Illinois, Mississippi, Penn National, Pinnacle Entertainment, Wall Street | 1 Comment

Midwest casino follies

Posted on February 25, 2015 by David McKee

Indiana municipalities caught a break when the state House of Representatives voted against scrapping the state’s $3 admission tax, which goes to casino-hosting localities. That keeps $200 million in the kitty of jurisdictions like LaPorte County, home to Boyd Gaming‘s … Continue reading →

Posted in Boyd Gaming, Environment, GLPI, Illinois, Indiana, Iowa, Ohio, Politics, Racinos, Regulation, Taxes | Comments Off on Midwest casino follies

Tilman Fertitta’s blockbuster

Posted on February 19, 2015 by David McKee

When looked on Ye Olde Same Store Basis, gaming revenues in Louisiana are good enough, up 4%. Add Tilman Fertitta‘s Golden Nugget Lake Charles to the mix and revs shoot up 17%. No, that’s not a typo. The Nugget is … Continue reading →

Posted in Atlantic City, Boyd Gaming, Churchill Downs, Downtown, Entertainment, GLPI, Harrah's, Isle of Capri, Louisiana, Pinnacle Entertainment, Racinos, Tilman Fertitta, Tropicana Entertainment, Wall Street | Comments Off on Tilman Fertitta’s blockbuster

Could saturation have peaked?

Posted on February 10, 2015 by David McKee

It’s a banner day when casino revenues in Illinois grow 8.5%. It’s no illusion: In context, $115.5 million is a pretty good haul. A downward spiral in gas prices may already be showing up in slot hoppers and drop boxes. … Continue reading →

Posted in Ameristar, Boyd Gaming, Economy, Entertainment, Foxwoods, GLPI, Harrah's, Illinois, Isle of Capri, MGM Mirage, Mohegan Sun, Neil Bluhm, Penn National, Pinnacle Entertainment, The Strip, Tropicana Entertainment, Wall Street, Warner Gaming | 1 Comment

Loveman succeeds: Caesars bankrupt

Posted on January 15, 2015 by David McKee

Not wasting any time, CEO Gary Loveman put Caesars Entertainment Operating Co. into Chapter 11 today, filing the motion in Chicago to circumvent a Delaware lawsuit. (The reason for the Windy City filing may go a lot deeper than proximity … Continue reading →

Posted in Boyd Gaming, Delaware, Economy, GLPI, Harrah's, Illinois, Lake Tahoe, Louisiana, Mississippi, New York, Penn National, Pinnacle Entertainment, Racinos, The Strip, Tilman Fertitta, Wall Street | Comments Off on Loveman succeeds: Caesars bankrupt

Illinois disappoints, Ohio surprises and Golden Nugget opens early

Posted on December 8, 2014 by David McKee

Except for a mild, 2% increase at Harrah’s Joliet, it was a very schizoid November for Illinois, whose casinos came in 4% below last year. There was one less weekend day, which some will cite as an alibi … but then … Continue reading →

Posted in Boyd Gaming, Genting, GLPI, Hard Rock International, Harrah's, Illinois, Louisiana, MGM Mirage, MTR Gaming, Neil Bluhm, New York, Ohio, Penn National, Pinnacle Entertainment, Racinos, Tilman Fertitta | 1 Comment

Big Ease; The Mirage, 25 years later

Posted on November 20, 2014 by David McKee

Even with 19 non-tribal casinos and racinos to support, the Louisiana market continues to rebound. It was up 4% last month, with even 2% growth in the crowded Shreveport/Bossier City marketplace. El Dorado was the second-highest grosser and the percentage leader … Continue reading →

Posted in Boyd Gaming, Churchill Downs, CityCenter, Downtown, GLPI, Hard Rock Hotel, Harrah's, history, Isle of Capri, Louisiana, MGM Mirage, Penn National, Pennsylvania, Pinnacle Entertainment, Regulation, Sheldon Adelson, Steve Wynn, Tropicana Entertainment | 1 Comment

Missouri miracle; Guarded hope in Illinois, Indiana

Posted on November 10, 2014 by David McKee

Finally, there was good news for saturated gaming markets. Missouri was up 2% last month, although the result was a bit lopsided. The St. Louis market rose 3% while the Kansas City area slipped 2%. The latter appears to be … Continue reading →

Posted in Ameristar, Boyd Gaming, Donald Trump, GLPI, Harrah's, Illinois, Indiana, Majestic Star, MGM Mirage, Missouri, Neil Bluhm, Ohio, Penn National, Pinnacle Entertainment, Slot routes, Tropicana Entertainment | Comments Off on Missouri miracle; Guarded hope in Illinois, Indiana

Clashing views on MGM; Shotgun wedding in Pennsylvania

Posted on October 30, 2014 by David McKee

MGM Resorts International‘s third quarter was “better than expected” if you were J.P. Morgan analyst Joseph Greff and “disappointing” if you are Deutsche Bank‘s Carlo Santarelli. It’s a matter of how MGM performed relative to analyst forecasts. While the Las Vegas Strip … Continue reading →

Posted in Cannery Casino Resorts, CityCenter, Detroit, GLPI, Harrah's, Macau, Mississippi, Pennsylvania, The Strip, Wall Street | Comments Off on Clashing views on MGM; Shotgun wedding in Pennsylvania