Category Archives: Harrah's

Mixed news from Atlantic City; More silliness from Trump

Posted on June 17, 2015 by David McKee

Atlantic City continued its paradoxical ways last month. The market as a whole suffered another big decline, down 10%. However, for individual operators, May was mostly good, with a same-store gain of 4%. (To see the blended impact of Internet … Continue reading →

Posted in Architecture, Atlantic City, Boyd Gaming, Donald Trump, Harrah's, International, Internet gambling, Mohegan Sun, Scientific Games, Technology, Tilman Fertitta, Tribal, Tropicana Entertainment, Trump Entertainment Resorts, TV, Wall Street | 1 Comment

Heavy online interest in Pennsylvania; New twist in Jersey expansion

Posted on June 10, 2015 by David McKee

Caesars Interactive sent Michael Cohen to Harrisburg, to educate Pennsylvania lawmakers in online gambling and demonstrate the safety features whereby underage players can be thwarted. Cohen’s presentation pleased lawmakers on both sides of the aisle but drew a squawk of … Continue reading →

Posted in Election, Harrah's, International, Internet gambling, Pennsylvania, Politics, Racinos, Regulation, Sheldon Adelson | Comments Off on Heavy online interest in Pennsylvania; New twist in Jersey expansion

Straub’s latest truce; Twin River readies for competition

Posted on June 10, 2015 by David McKee

Bitter foes Glenn Straub and ACR Energy Partners have agreed to make nice and keep the lights on (literally) at Revel, at least for the short term. The brinkmanship between these two parties had reached such extremes that ACR cut … Continue reading →

Posted in Animals, Atlantic City, Environment, Glenn Straub, Harrah's, Illinois, Isle of Capri, Louisiana, Massachusetts, Penn National, Regulation, Revel, Rhode Island, Tilman Fertitta | Comments Off on Straub’s latest truce; Twin River readies for competition

Steady in Indiana

Posted on June 9, 2015 by David McKee

Gaming revenues were flat in Indiana last month, especially in the south, and this is a good thing. Why? Because it means that the Hoosier State is absorbing the impact of competition from Ohio. Operators can also, thanks to Gov. … Continue reading →

Posted in Ameristar, Boyd Gaming, Dan Lee, Harrah's, Indiana, Ohio, Penn National, Pinnacle Entertainment, Racinos, Tribal, Tropicana Entertainment | Comments Off on Steady in Indiana

Penn powers Ohio; Emanuel’s big bet

Posted on June 8, 2015 by David McKee

May was another good month for the Ohio market, even if Dan Gilbert‘s two casinos continue to slump. Perhaps they are suffering the post-bankruptcy malaise that affects nearly all regional casinos managed by Caesars Entertainment. Hard to say. Horseshoe Cleveland … Continue reading →

Posted in Dan Gilbert, Economy, Hard Rock International, Harrah's, history, Illinois, Neil Bluhm, Ohio, Penn National, Pinnacle Entertainment, Racinos, Taxes, Wall Street | Comments Off on Penn powers Ohio; Emanuel’s big bet

Sifting through the Caesars wreckage

Posted on June 5, 2015 by David McKee

“If this litigation continues, we will take a big step backward because parties won’t at all be incentivized to come together and negotiate.” So says Randall S. Eisenberg, the de facto chief restructuring officer for Caesars Entertainment, which is trying … Continue reading →

Posted in California, Harrah's, Kansas, New York, Oklahoma, Regulation, Steve Wynn, Tribal, Wall Street | 1 Comment

Smooth sailing in Illinois, Iowa; Bad legislative bet

Posted on June 5, 2015 by David McKee

Just when Illinois casinos are trying to stave off another expansion of gambling, May brought a most inconvenient uptick in gambling revenues, albeit only half a percentage point, which can presumably be accounted for by the fact that this May had … Continue reading →

Posted in Boyd Gaming, GLPI, Harrah's, Illinois, Internet gambling, Isle of Capri, MGM Mirage, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Sports, Taxes, Wall Street, Warner Gaming | Comments Off on Smooth sailing in Illinois, Iowa; Bad legislative bet

Mohegans, Foxwoods get go-ahead; More trouble for Caesars

Posted on June 1, 2015 by David McKee

Driven by apocalyptic job-loss projections by Foxwoods Casino Resort and Mohegan Sun, the House of Representatives of Connecticut passed a casino bill to Gov. Dannel Malloy (D) for his signature. The bill doesn’t authorize a casino per se but rather … Continue reading →

Posted in Atlantic City, Economy, Foxwoods, Glenn Straub, Harrah's, International, Internet gambling, Lake Tahoe, Massachusetts, MGM Mirage, Mohegan Sun, Penn National, Steve Wynn, Technology, The Strip, Trump Entertainment Resorts, Warner Gaming | Comments Off on Mohegans, Foxwoods get go-ahead; More trouble for Caesars

Christie’s change of mind; Caesars creditors thwarted

Posted on May 29, 2015 by David McKee

New Jersey Gov. Chris Christie (R) is already throwing in the towel on his five-year plan for Atlantic City. If lawmakers want to put a statewide expansion of casino gambling on this fall’s ballot, Christie would “have absolutely no problem … Continue reading →

Posted in Atlantic City, Election, Hard Rock International, Harrah's, Horseracing, Massachusetts, New York, Racinos, Regulation, Steve Wynn, Taxes | Comments Off on Christie’s change of mind; Caesars creditors thwarted

Caesars pays some, denies others; Adelson’s blunderbuss bill

Posted on May 27, 2015 by David McKee

Who knew that Gary Loveman was a creditor of Caesars Entertainment? His compensation package has been identified as among those adversely affected by Caesars Entertainment Operating Co.’s bankruptcy. The Chapter 11 proceeding has impacted five deferred-compensation plans, two of which will … Continue reading →

Posted in Cantor Gaming, GLPI, Harrah's, Illinois, International, Politics, Racinos, Regulation, Sheldon Adelson, Technology | Comments Off on Caesars pays some, denies others; Adelson’s blunderbuss bill

Straub faces reality; Chinese players prefer Vegas

Posted on May 27, 2015 by David McKee

Reality continues to sink in at Revel, where Glenn Straub has thrown in the towel on reopening this summer — raising the prospect of a grand-reopening in the cold-weather months. Not very auspicious, that. Labor Day is the target date … Continue reading →

Posted in Atlantic City, Genting, Glenn Straub, Hard Rock International, Harrah's, Macau, MGM Mirage, Revel, Taxes, The Strip, Tourism, Trump Entertainment Resorts, Wall Street | Comments Off on Straub faces reality; Chinese players prefer Vegas

Phua case collapses; Bwin wooed ardently

Posted on May 27, 2015 by David McKee

Well, that’s it. With the exclusion of evidence gathered from all three Caesars Palace VIP villas used by Paul Phua, the federal government’s case against the poker pro collapses ignominiously. U.S. District Judge Andrew Gordon had already tossed all the … Continue reading →

Posted in Bally Technologies, Harrah's, International, Internet gambling, Massachusetts, Penn National, Problem gambling, Racinos, Regulation, Scientific Games, Shuffle Master, Sports, Uncategorized, WMS Industries | Comments Off on Phua case collapses; Bwin wooed ardently

Atlantic City rings the cash register; Adelson loses (again)

Posted on May 26, 2015 by David McKee

Operating profits in Atlantic City don’t tell the whole story: The Showboat was notoriously in the black when Caesars Entertainment closed it but the company said it was running at a loss … thanks to interest payments with which CEO … Continue reading →

Posted in Atlantic City, Boyd Gaming, Dennis Gomes, Economy, Genting, Harrah's, Macau, Melco Crown Entertainment, Mississippi, Mohegan Sun, Sheldon Adelson, Stanley Ho, Steve Wynn, Trump Entertainment Resorts | Comments Off on Atlantic City rings the cash register; Adelson loses (again)

Louisiana’s bonny April; Nevada Gold now with 100% more Nevada

Posted on May 22, 2015 by David McKee

Golden Nugget Lake Charles continues to be the outboard engine that speeds up Louisiana gaming revenues. The Pelican State was up 4% last month — but 13% when Tilman Fertitta‘s casino is added to the tally. It even made inroads … Continue reading →

Posted in Boyd Gaming, Churchill Downs, Genting, GLPI, Harrah's, Isle of Capri, Louisiana, Macau, MGM Mirage, Pinnacle Entertainment, Racinos, Slot routes, South Dakota, South Korea, Stanley Ho, Tilman Fertitta, Tropicana Entertainment | Comments Off on Louisiana’s bonny April; Nevada Gold now with 100% more Nevada

Penn “upbeat” about future; Connecticut tribes closer to new casino

Posted on May 20, 2015 by David McKee

Penn National Gaming CEO Tim Wilmott recently broke bread with J.P. Morgan analyst Joseph Greff, who found Penn management “positive and primarily focused on PENN’s robust development pipeline,” which it thinks will produce improved cash flow even before the Tropicana … Continue reading →

Posted in Alex Yemenidjian, California, Florida, Foxwoods, Hard Rock International, Harrah's, Massachusetts, Mohegan Sun, Penn National, Racinos, Rhode Island, Station Casinos, The Strip, Tribal, Wall Street | Comments Off on Penn “upbeat” about future; Connecticut tribes closer to new casino

Behind the Showboat sale; Cosmo comeback

Posted on May 14, 2015 by David McKee

During its crusade to drive Stockton University out of the Showboat, the CEO of Trump Entertainment Resorts, Robert Griffin airily informed Stockton representatives that they should buy Trump Plaza instead — puncturing TER’s public posture that college kids should be kept … Continue reading →

Posted in Atlantic City, Cosmopolitan, Economy, Glenn Straub, Harrah's, Politics, Steve Wynn, The Strip, Trump Entertainment Resorts | Comments Off on Behind the Showboat sale; Cosmo comeback

April is the cruelest month for Atlantic City

Posted on May 13, 2015 by David McKee

Not only did players put dramatically less money onto the tables and into the slots but Atlantic City casinos had a run of bad luck last month. All of these factors contributed to a 17% decline. When the four closed … Continue reading →

Posted in Atlantic City, Boyd Gaming, Entertainment, Harrah's, Internet gambling, MGM Mirage, Mohegan Sun, The Strip, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts | 1 Comment

Long road back for Macao; Phua case becomes a federal obsession

Posted on May 13, 2015 by David McKee

Macao‘s status as shorthand for “corruption” got another bump this week when it was announced that former bureaucrat Li Huabo had gambled away $4 million in the casino enclave, then absconded with $16 million in stolen. As deleterious as that … Continue reading →

Posted in Australia, Downtown, Economy, Harrah's, Macau, Philippines, Sheldon Adelson, SLS Las Vegas, Sports, The Strip, Tourism, Vietnam, Wall Street | Comments Off on Long road back for Macao; Phua case becomes a federal obsession

Caesars rethinks pensions; Bluhm wins in Massachusetts

Posted on May 13, 2015 by David McKee

Caesars Entertainment has been feeling the heat for cutting off pension payments to 340 current and former executives. By lumping them in with other unsecured creditors, it gave itself a rationale for the severed payouts, leaving the pensioners to face … Continue reading →

Posted in Foxwoods, Harrah's, Massachusetts, Neil Bluhm, Regulation, Sheldon Adelson, The Strip | 1 Comment

Et tu, Harry?; It’s a new era in Manila

Posted on May 12, 2015 by David McKee

Now that Sen. Harry Reid (D) has one foot out the door on Capitol Hill, he’s turning on the casino companies — particularly Caesars Entertainment — that helped him stay in power five years ago. Just when Sen. Lindsey Graham‘s … Continue reading →

Posted in Atlantic City, Delaware, Genting, Harrah's, Harry Reid, Internet gambling, Kazuo Okada, Melco Crown Entertainment, MGM Mirage, Philippines, Politics, Regulation, Sheldon Adelson, Singapore | Comments Off on Et tu, Harry?; It’s a new era in Manila