Category Archives: Harrah's

Buckeye State bullseye

Posted on January 7, 2015 by David McKee

Ohio casinos and racinos posted spectacular figures last month. By the calculations of Deutsche Bank analyst Carlo Santarelli, revenues were up 37% (or 18% on a same-store basis). Horseshoe Cleveland, up 16.5%, was also the top grosser — $21 million, … Continue reading →

Posted in Atlantic City, Hard Rock International, Harrah's, International, Japan, Maine, Ohio, Penn National, Racinos, The Strip, Wall Street | Comments Off on Buckeye State bullseye

Turning point for Illinois?; Cuomo creates a mess

Posted on January 7, 2015 by David McKee

Santa Claus was extra generous to casinos in Illinois last month (and they sure could use a little Kringle largesse). Revenues grew to 6%, visitation was up 5% and spend per visitor rose 1%. All that added up to a … Continue reading →

Posted in Boyd Gaming, Current, Economy, Foxwoods, Hard Rock International, Harrah's, Illinois, MGM Mirage, Mohegan Sun, Neil Bluhm, New York, Penn National, Wall Street | 1 Comment

Revel: Straub vs. Straub

Posted on January 6, 2015 by David McKee

If Glenn Straub can’t have Revel, he’s determined to see that no one else can … including Glenn Straub. The sole remaining bidder for Atlantic City‘s $2.4 billion white elephant, Straub’s $95.4 million bid for it was accepted by bankruptcy … Continue reading →

Posted in Atlantic City, Cordish Co., Glenn Straub, Harrah's, Maryland, Penn National, Revel, Tribal, Wisconsin | Comments Off on Revel: Straub vs. Straub

New Yorkers want a do-over; Another EuroVegas folds

Posted on December 29, 2014 by David McKee

Magnanimously, Traditions at the Glen partner — and losing casino bidder — Peter Walsh is throwing his support to racino mogul Jeff Gural. The latter is trying to pry New York‘s fourth and last new-casino license loose from New York State’s … Continue reading →

Posted in California, Delaware, Economy, Genting, Hard Rock International, Harrah's, International, Internet gambling, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, New York, Pennsylvania, Philippines, Politics, Racinos, Tribal, Wall Street | Comments Off on New Yorkers want a do-over; Another EuroVegas folds

Atlantic City faces uncertain 2015; Wynn remakes Boston look

Posted on December 29, 2014 by David McKee

It can’t get any worse. That’s the cautious mantra emerging from the Boardwalk, where Atlantic City shed four casinos last year. Trump Taj Mahal is on life support provided by Carl Icahn and Caesars Entertainment CEO Gary Loveman has cast … Continue reading →

Posted in Architecture, Atlantic City, Carl Icahn, Economy, Glenn Straub, Harrah's, Massachusetts, Regulation, Revel, Steve Wynn, Technology, Tribal, Trump Entertainment Resorts | Comments Off on Atlantic City faces uncertain 2015; Wynn remakes Boston look

Hello, Yellow Brick Road; Packer’s big plan

Posted on December 22, 2014 by David McKee

New York‘s Oneida Indian Nation was quick to counterpunch at last week’s private-sector casino expansion. They plan to open 436-slot, 250-job Yellow Brick Road Casino in L. Frank Baum‘s hometown of Chittenango, N.Y. Thanks to the terms of their compact with the state, … Continue reading →

Posted in Architecture, Australia, Harrah's, Horseracing, James Packer, Marketing, MGM Mirage, New York, Racinos, The Strip, Tribal | Comments Off on Hello, Yellow Brick Road; Packer’s big plan

Big and Little Caesars strike again; Atlantic City’s monopoly in danger

Posted on December 22, 2014 by David McKee

Last weekend, Caesars Entertainment confirmed what we already expected: It will file bankruptcy for Caesars Entertainment Operating Co. next month, in what the New York Times called “an ignominious milestone for what was one of the biggest buyouts of the … Continue reading →

Posted in Atlantic City, Election, Harrah's, Horseracing, New York, Politics, Wall Street | Comments Off on Big and Little Caesars strike again; Atlantic City’s monopoly in danger

Macao: Pressure for change; Stanley Ho into South Korea?

Posted on December 22, 2014 by David McKee

Despite having only one-tenth as many hotel rooms as Las Vegas, the enclave of Macao is feeling the pressure to develop a more tourism-oriented business model. China’s president, Xi Jinping visited Macao last weekend and dropped a few strong hints. … Continue reading →

Posted in Cirque du Soleil, Harrah's, International, Macau, Marketing, New York, Politics, Sheldon Adelson, South Korea, Stanley Ho, Tourism | Comments Off on Macao: Pressure for change; Stanley Ho into South Korea?

Nazarian’s luck, Caesars’ hoard

Posted on December 19, 2014 by David McKee

Sam Nazarian won’t be able to have an operational role in the casino at SLS Las Vegas but he’ll be able to participate in its revenue stream now that he is finally the holder of a Nevada gaming license — … Continue reading →

Posted in Harrah's, Regulation, Sam Nazarian, Wall Street | Comments Off on Nazarian’s luck, Caesars’ hoard

Many called, few chosen for New York casinos

Posted on December 18, 2014 by David McKee

Count mega-budget offerings from Genting Group and Caesars Entertainment among the marquee-name dismissals in the New York Gaming Facility Location Board‘s final cut of casino applicants. Also going into the circular file were a second Genting project (Resorts World Hudson Valley), along with … Continue reading →

Posted in Churchill Downs, Cordish Co., Economy, Genting, Hard Rock International, Harrah's, Horseracing, International, Mohegan Sun, Neil Bluhm, New York, Penn National, Racinos, Taxes, Tribal | Comments Off on Many called, few chosen for New York casinos

Vegas hits the jackpot & other Case Bets

Posted on December 17, 2014 by David McKee

We don’t know how much they’ve spent yet and how much of a blockbuster year this will be for Las Vegas but we know one thing for certain. We’ve finally broken the 40 million mark in annual visitation, a Holy … Continue reading →

Posted in Cordish Co., Downtown, Entertainment, Harrah's, International, Sports, Tourism | 1 Comment

Taj at Icahn’s mercy; The wrath of Wynn

Posted on December 17, 2014 by David McKee

Trump Entertainment Resorts CEO Bob Griffin (below) has basically flung himself at the feet of Carl Icahn and begged the billionaire to keep funding Trump Taj Mahal “well into 2015,” while Unite-Here‘s appeal of a bankruptcy court ruling is adjudicated, maybe … Continue reading →

Posted in Atlantic City, Carl Icahn, Columbia Sussex, Entertainment, Harrah's, Macau, MGM Mirage, Mohegan Sun, Morgans Hotel Group, Steve Wynn, The Strip, Tilman Fertitta, Trump Entertainment Resorts | Comments Off on Taj at Icahn’s mercy; The wrath of Wynn

Much ado about Harmon

Posted on December 16, 2014 by David McKee

After endless months of maneuvering and legal posturing, MGM Resorts International and  Tutor Perini arrived at a settlement on what was to have been the opening day of an epic trial. (That’s seven weeks of jury selection down the drain.) The case … Continue reading →

Posted in CityCenter, Current, Entertainment, Hard Rock Hotel, Harrah's, International, MGM Mirage, Morgans Hotel Group, The Strip, Wall Street | Comments Off on Much ado about Harmon

Captain Loveman’s sinking ship

Posted on December 15, 2014 by David McKee

As was widely expected, Caesars Entertainment defaulted on a $225 million interest payment, setting the stage for a prearranged bankruptcy. Company spokesman Stephen Cohen said airily, “It’s clear Caesars has sufficient liquidity to make the payment, we just chose not to … Continue reading →

Posted in Atlantic City, Genting, Harrah's, New York, Regulation, Wall Street | 1 Comment

Hope and change in Atlantic City

Posted on December 15, 2014 by David McKee

Not everybody is on board with Gov. Chris Christie‘s and state Senator Stephen Sweeney‘s plan for a new, fixed-rate payment system for Atlantic City casinos, in lieu of property taxes. Despite a floodtide of new revenue in recent months, the … Continue reading →

Posted in Atlantic City, Boyd Gaming, Glenn Straub, Harrah's, MGM Mirage, Mohegan Sun, Pennsylvania, Revel, Taxes, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts | 1 Comment

Reid’s treachery and Adelson’s myopia

Posted on December 15, 2014 by David McKee

As predicted here, Sen. Harry Reid (D) stuck a knife in erstwhile allies Caesars Entertainment and MGM Resorts International, embracing Sheldon Adelson instead. If Sheldon, who holds all the cards at this point, cedes to a carve-out for online poker, Reid … Continue reading →

Posted in Harrah's, International, Internet gambling, MGM Mirage, Pennsylvania, Sheldon Adelson | Comments Off on Reid’s treachery and Adelson’s myopia

Icahn: My way or the highway

Posted on December 15, 2014 by David McKee

If Unite-Here doesn’t cave in today, it’s curtains for Trump Taj Mahal. Or so says Carl Icahn, who wants the union to abandon its court fight to restore health and pension benefits breached by Trump Entertainment Resorts. If Icahn carries … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Dining, Entertainment, Harrah's, Louisiana, Pinnacle Entertainment, Texas, The Strip, Tilman Fertitta, Tribal, Trump Entertainment Resorts | Comments Off on Icahn: My way or the highway

Migratory patterns in Atlantic City

Posted on December 12, 2014 by David McKee

Considerably less casino revenue continues to flow into Atlantic City, down 13% last month, but it’s not all bad. Thanks to the whale-sized “market correction” of multiple casino closings, there continues to be more money for everybody who’s left. October’s … Continue reading →

Posted in Atlantic City, Boyd Gaming, Current, Economy, Harrah's, Mohegan Sun, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts | 1 Comment

Et tu, Harry?

Posted on December 10, 2014 by David McKee

Internet gambling dodged a bullet when the federal government’s omnibus spending bill was sent to the floor without Restoring America’s Wire Act tacked on like a flea riding a dog. “If we can’t get it into the omnibus, it won’t be … Continue reading →

Posted in Economy, Harrah's, Harry Reid, Internet gambling, Macau, MGM Mirage, Politics, Sheldon Adelson, Shuffle Master, Taxes | Comments Off on Et tu, Harry?

Cosmo: Unwin out

Posted on December 10, 2014 by David McKee

Whatever Blackstone Group plans for The Cosmopolitan of Las Vegas, it doesn’t include CEO John Unwin, who will leave at year’s end. Don’t cry for him just yet: He’ll temporarily be on a consulting contract, which conveniently keeps him for … Continue reading →

Posted in CityCenter, Cosmopolitan, Harrah's, MGM Mirage, The Strip, Wall Street | 1 Comment