Category Archives: Goldman Sachs

As the foreclosure turns …

Posted on October 3, 2011 by David McKee

Although its cash flow improved 47% this year to date, Hooters Casino Hotel continues to dribble red ink — losses incurred, in part, by its ongoing bankruptcy soap opera. And although it has close to $10 million in the till, … Continue reading →

Posted in Colony Capital, Goldman Sachs, IGT, The Strip, Wall Street | Comments Off on As the foreclosure turns …

At long last, Octavius; Power plays at Hilton, Beso

Posted on September 14, 2011 by David McKee

Good news for whales and business travelers: The long-in-abeyance Octavius Tower at Caesars Palace has been finished inside and out, and will open for business on Jan. 2, 2012. The ginormous, high-tech hotel rooms are perfect for the customer with … Continue reading →

Posted in Atlantic City, California, CityCenter, Colony Capital, Current, Dining, Goldman Sachs, Harrah's, Internet gambling, The Strip, Tilman Fertitta, Tourism | 1 Comment

What’s there to do in Las Vegas? Plus, Adelson screws the pooch again

Posted on September 2, 2011 by David McKee

Besides gambling? Why, I’m so glad you asked. As I point out in the new issue of Desert Companion (available in Planet Hollywood‘s Desert Passage Miracle Mile shopping mall and other places that host Coffee Bean & Tea Leaf franchises), … Continue reading →

Posted in Current, Dining, Downtown, Entertainment, Goldman Sachs, Harrah's, MGM Mirage, Phil Ruffin, Planet Hollywood, Sheldon Adelson, Station Casinos, Steve Wynn, The Strip | 2 Comments

Hilton: worse than it looks

Posted on August 12, 2011 by David McKee

In the cold light of day (i.e., Chris Sieroty‘s Review-Journal coverage), the situation at the Las Vegas Hilton appears still more dire … if such a thing is possible. Remember that roughly a third of the LVH is owned by … Continue reading →

Posted in Atlantic City, Carl Icahn, Colony Capital, Economy, Goldman Sachs, Lake Tahoe, Laughlin, The Strip, Tropicana Entertainment, Wall Street | 2 Comments

Colony craps out again

Posted on August 10, 2011 by David McKee

Gaming’s Mr. Magoo, the disaster-prone CEO of Colony Capital, Tom Barrack has done it again. The Las Vegas Hilton has defaulted on one of its loans (again), a too-familiar revelation where a Colony-owned property is concerned. Although it lost $1 … Continue reading →

Posted in Colony Capital, Cretins, Current, Dining, Economy, Entertainment, Goldman Sachs, The Strip, Wall Street | 1 Comment

Quote of the Day

Posted on July 8, 2011 by David McKee

“Goldman is making a decent long-term investment in where the Strip is heading. The Stratosphere and the land could be more valuable imploded and built up with something else.” — gaming analyst Robert LaFleur, then with Susquehanna Financial Group, on … Continue reading →

Posted in Carl Icahn, Economy, Goldman Sachs, history, The Strip, Wall Street | 4 Comments

The North Strip Story and Salvation Plan

Posted on April 1, 2011 by David McKee

Guest blogger Jeff in OKC returns, his previous dispatch on Downtown’s Western Casino having proven a smash hit; its fans included Western manager Anthony Santo himself. During his latest visit, he concentrated upon the north end of the Las Vegas … Continue reading →

Posted in Alex Yemenidjian, Boyd Gaming, Cloverfield monster, Colony Capital, Columbia Sussex, Cosmopolitan, Current, Economy, Entertainment, Fontainebleau, Goldman Sachs, Harrah's, MGM Mirage, Steve Wynn, The Strip, Transportation, Tropicana Entertainment, Wall Street | 10 Comments

Woe on the North Strip

Posted on March 31, 2011 by David McKee

Owners of the Riviera and the Las Vegas Hilton published their respective annual reports and it wasn’t a good day for the north end of the Strip, where bargain-priced casinos fight a holding action against the market forces of the … Continue reading →

Posted in Colony Capital, Colorado, Current, Economy, Goldman Sachs, International, MGM Mirage, Ohio, Riviera, Sahara, Sheldon Adelson, The Strip, Tourism, Wall Street | Comments Off on Woe on the North Strip

R.I.P., Sahara (1952-2011)

Posted on March 11, 2011 by David McKee

Once the Riviera changed hands, the Strip casino for whom mortality seemed most imminent became the Sahara. The ‘death by a thousand cuts’ regime of nightclub impresario and absentee owner Sam Nazarian bled the place to the extent that there … Continue reading →

Posted in Boyd Gaming, CityCenter, Colony Capital, Columbia Sussex, Current, Dining, Economy, Entertainment, Fontainebleau, Goldman Sachs, history, International, James Packer, Macau, Marketing, MGM Mirage, Morgans Hotel Group, Pansy Ho, Plaza, Regulation, Riviera, Sahara, Stanley Ho, Station Casinos, The Strip, Tourism, Transportation, TV, Wall Street | 10 Comments

Case Bets: Ferris wheel fetishists; Rail fail; “Aerotropolis” now?

Posted on March 2, 2011 by David McKee

Caesars Entertainment better get a move on with that Ferris wheel it wants to build out back of O’Shea’s. A rival project, slated for problematic (and fairly blighted) land opposite Mandalay Bay received approval from Clark County. Then again, getting … Continue reading →

Posted in Architecture, California, Dubai, Entertainment, Goldman Sachs, Harrah's, history, International, MGM Mirage, Phil Ruffin, Regulation, Sheldon Adelson, Silverton, Technology, The Strip, Tourism, Transportation | 5 Comments

Rooms at the top

Posted on January 18, 2011 by David McKee

It’s been a bumpy and expensive education in the Las Vegas casino business for Goldman Sachs. However, the banking house is giving its flagship property, the Stratosphere, a new look (and a new general manger to go with it). If … Continue reading →

Posted in Alex Yemenidjian, Current, Donald Trump, Economy, Goldman Sachs, Herbst Gaming, Isle of Capri, Marketing, Steve Wynn, The Strip | 2 Comments

F-blew: The incredible bulk

Posted on October 25, 2010 by David McKee

A friend of S&G was recently staying at Wynncore and got this rude surprise when he looked out his north-facing window: No, somebody didn’t topple the Stratosphere in the dead of night. So immense is the unfinished hulk of Fontainebleau … Continue reading →

Posted in Architecture, Carl Icahn, Economy, Encore, Fontainebleau, Goldman Sachs, history, Planet Hollywood, Steve Wynn, The Strip | 6 Comments

Singapore: Our whales lose more than your whales!

Posted on October 12, 2010 by David McKee

Think you’re so big, Las Vegas? Well, Singapore just went all “In your face” on Sin City. One area tycoon recently blew $50 million at Marina Bay Sands and/or Resorts World Sentosa. Not to be outdone, a Singaporean zillionaire dropped … Continue reading →

Posted in Architecture, Boulder Strip, Economy, Entertainment, Environment, Genting, Goldman Sachs, Harrah's, Lake Tahoe, Missouri, Pinnacle Entertainment, Reno, Sheldon Adelson, Singapore, Tamares Group, The Strip | 2 Comments

Last Resorts? Colony wins one

Posted on August 25, 2010 by David McKee

It still looks like Resorts Atlantic City is the casino most likely to close in that market, on pace to lose nearly $22 million this year. That’s the monumental challenge facing prospective new owner Dennis Gomes. In unadjusted dollars, the … Continue reading →

Posted in Architecture, Atlantic City, Colony Capital, Economy, Goldman Sachs, Harrah's, Pennsylvania, Regulation, The Strip, Tourism, Transportation, Tribal, Wall Street | 3 Comments

Peril on the Strip

Posted on August 19, 2010 by David McKee

You wouldn’t know if from the wrap on Luxor’s west side, but Angelica Bridges is out as Fantasy headliner, replaced by Lorena Peril (late of Sin City Bad Girls at the Las Vegas Hilton). This alone is sufficient to bump … Continue reading →

Posted in Atlantic City, Carl Icahn, CityCenter, Donald Trump, Entertainment, Fontainebleau, Goldman Sachs, Harrah's, MGM Mirage, Sheldon Adelson, Steve Wynn, The Strip, Tourism, Tropicana Entertainment | 1 Comment

Chris Christie, rock star

Posted on July 22, 2010 by David McKee

New Jersey‘s outspoken governor lays down some righteous grooves at Meadowlands, including telling the horsey set what it needs to hear: “I don’t have the money to be subsidizing failure.” Gov. Chris Christie on New Jersey horseracing: this industry has … Continue reading →

Posted in Atlantic City, Colony Capital, Columbia Sussex, Current, Economy, Entertainment, Goldman Sachs, Horseracing, Movies, Politics, Racinos, Regulation, Sheldon Adelson, Station Casinos, Taxes, Technology, Tourism, Wall Street | 3 Comments

Motley Crew

Posted on May 26, 2010 by David McKee

(Editor’s note: Whoever labeled the photo at left misplaced the captions. FF3 is the guy having the good hair day and brother Lorenzo is the one with the handkerchief in his breast pocket.) In my 15 years of following the … Continue reading →

Posted in Ameristar, Boulder Strip, Boyd Gaming, Cannery Casino Resorts, CityCenter, Colony Capital, Current, Downtown, Economy, George Maloof, Goldman Sachs, James Packer, Penn National, Pennsylvania, Regulation, Station Casinos, Tourism, Wall Street | 6 Comments

Quote of the Day

Posted on April 14, 2010 by David McKee

“Now, there’s an invitation I can’t refuse! Don’t think I want to be one of their freefalling guinea pigs.” — Las Vegan’s response to an invitation to become of one of the first to experience the Stratosphere‘s new 855-foot, 40-mph … Continue reading →

Posted in Current, Entertainment, Goldman Sachs, The Strip, Tourism | 3 Comments

Quote of the Day

Posted on March 23, 2010 by David McKee

“There’s a misperception out there that we bust up companies. Or that I believe that all people on boards are bad. It’s just that, in some cases, the C.E.O.’s are so wrong.” — Tropicana Entertainment owner Carl Icahn, in a … Continue reading →

Posted in Atlantic City, Carl Icahn, Current, Downtown, Goldman Sachs, Tropicana Entertainment, Wall Street | 2 Comments

Green $hoots?

Posted on September 8, 2009 by David McKee

There's nothing like the approach of 2010's Global Gaming Expo to make Las Vegas hoteliers rethink their rates. For instance, if you want to stay at that palace of pleasure and plushness, the Plaza downtown, it'll run you $55 a … Continue reading →

Posted in Downtown, Economy, G2E, Goldman Sachs, Harrah's, MGM Mirage, Tamares Group, The Strip, Tourism | Comments Off on Green $hoots?