Category Archives: Harrah's

Cornrows and casinos

Posted on October 9, 2014 by David McKee

Those who argue that Iowa is saturated with casinos found plentiful ammunition in the latest set of revenue numbers from the state. True, Hard Rock Sioux City is doing far better than its predecessor, Argosy Sioux City. Also, Harrah’s Council … Continue reading →

Posted in Affinity Gaming, Ameristar, Bally Technologies, Boyd Gaming, G2E, Harrah's, Isle of Capri, Penn National, Pinnacle Entertainment, Warner Gaming | Comments Off on Cornrows and casinos

Okada going slowly; Mixed news in Indiana

Posted on October 8, 2014 by David McKee

Kazuo Okada is butting heads with the Philippine government again. The latter says Okada has to have Marina Bay Resorts open by March of next year or forfeit a $2 million guarantee. Okada, whose project has been dogged by regulatory … Continue reading →

Posted in Boyd Gaming, Harrah's, Indiana, International, Kazuo Okada, Ohio, Penn National, Pinnacle Entertainment, Racinos, Regulation, Tropicana Entertainment | Comments Off on Okada going slowly; Mixed news in Indiana

Ohio: Success and saturation; The many excuses of Glenn Straub

Posted on October 7, 2014 by David McKee

Now that all four casinos and seven racinos are open, Ohio posted a spectacular year/year increase of 36% in gambling revenue. However, success came at a price, in terms of an 8% decline in same-store revenue, indicative of a saturated … Continue reading →

Posted in Atlantic City, Glenn Straub, Hard Rock International, Harrah's, MTR Gaming, Ohio, Penn National, Racinos, Revel, Wall Street | Comments Off on Ohio: Success and saturation; The many excuses of Glenn Straub

Maryland: First, the good news; Here, kitty, kitty

Posted on October 7, 2014 by David McKee

Maryland casinos hit another monthly record — $82 million — boosted by Horseshoe Baltimore. Revenues at Maryland Live fell 10%, to $45.5 million — boosted by 50,000 customers over the Labor Day weekend — and Horseshoe raked in $22 million. … Continue reading →

Posted in Alex Yemenidjian, Cordish Co., Entertainment, Harrah's, Maryland, Riviera, The Strip | Comments Off on Maryland: First, the good news; Here, kitty, kitty

Wynn: Think big; Genting: Spend big

Posted on October 1, 2014 by David McKee

When Steve Wynn opened The Mirage in 1989, it was the beginning of the end of the era when the casino was the dominant revenue source in Las Vegas resorts. Restaurants, shows and hotel rooms all became profit centers. But … Continue reading →

Posted in Atlantic City, Entertainment, Florida, G2E, Genting, Harrah's, history, Macau, Massachusetts, MGM Mirage, New Hampshire, New York, Steve Wynn, The Strip | Comments Off on Wynn: Think big; Genting: Spend big

Revel: Straub loses

Posted on October 1, 2014 by David McKee

Bids are in for Revel and the white elephant goes to … Brookfield Asset Management, owner of the Hard Rock Hotel in Las Vegas. (The fund is obviously fond of problem children.) Brookfield’s winning bid was $110 million, leaving stalking-horse … Continue reading →

Posted in Donald Trump, Election, Glenn Straub, Hard Rock Hotel, Harrah's, Horseracing, Massachusetts, Morgans Hotel Group, Penn National, Regulation, Revel, Trump Entertainment Resorts | 3 Comments

Sanguine at Penn; Serrano goes Italian

Posted on October 1, 2014 by David McKee

Executives from Penn National Gaming were hosted by J.P. Morgan analysts this week at Global Gaming Expo and gave a fairly mellow outlook on business. Nationally, commerce is seen as stabilizing but not having bottomed out yet, although Penn is “holding … Continue reading →

Posted in Architecture, Dining, Election, G2E, Harrah's, history, Maryland, Massachusetts, MGM Mirage, New York, Ohio, Penn National, Politics, Racinos, Regulation, Steve Wynn, The Strip, Wall Street, West Virginia | Comments Off on Sanguine at Penn; Serrano goes Italian

Pacific overtures

Posted on September 25, 2014 by David McKee

Lord knows where they keep coming up with the money for these things, especially with a prepacked bankruptcy being bruited about, but Caesars Entertainment and partner Lippo (a Chinese firm) are beavering away on a South Korea casino complex near … Continue reading →

Posted in Affinity Gaming, Colorado, Harrah's, International, Iowa, Macau, MGM Mirage, Missouri, Singapore, South Korea, Taxes | Comments Off on Pacific overtures

Taking it to the streets in Massachusetts, New York

Posted on September 24, 2014 by David McKee

While polls show casino repeal losing by larger and larger margins, MGM Resorts International and Penn National Gaming are taking no chances. (Wynn Resorts, cravenly, is sitting it out.) In the first TV salvo of the fall campaign, MGM Springfield … Continue reading →

Posted in Economy, Election, Genting, Harrah's, Massachusetts, MGM Mirage, New York, Penn National, Regulation, Steve Wynn, TV | Comments Off on Taking it to the streets in Massachusetts, New York

Icahn to rescue Taj?

Posted on September 24, 2014 by David McKee

Always unpredictable, Carl Icahn has thrown Trump Entertainment Resorts a lifeline. He’s talking about making a $100 million purchase of the failing property, rolling his $286 million marker into equity … but he’s demanding what are described as “sizeable concessions” from … Continue reading →

Posted in Atlantic City, Carl Icahn, Colorado, Election, Harrah's, Isle of Capri, Louisiana, Maryland, Massachusetts, MGM Mirage, Mississippi, Pinnacle Entertainment, Tropicana Entertainment, Trump Entertainment Resorts | Comments Off on Icahn to rescue Taj?

Wretched excess; Caesars’ good deeds

Posted on September 24, 2014 by David McKee

As long as Las Vegas casinos continue to provoke untrammeled, excessive behavior at their pool parties, they’re going to make the police blotter. It seems that one MGM Grand guest got an unwelcome surprise when he passed out in a restroom. … Continue reading →

Posted in Animals, Arizona, Cretins, Entertainment, Environment, Harrah's, MGM Mirage, Regulation, Tourism, Transportation | Comments Off on Wretched excess; Caesars’ good deeds

Ultimate pulls the plug on A.C.

Posted on September 22, 2014 by David McKee

Ultimate Gaming is exiting Atlantic City but don’t take that as a slight on the New Jersey market for Internet gambling. Ultimate lost patience with dubiously solvent Trump Taj Mahal, which it accuses of being two months in arrears and owing … Continue reading →

Posted in Atlantic City, Boyd Gaming, Election, Harrah's, International, Penn National, Sahara, Sam Nazarian, Sheldon Adelson, Station Casinos, Trump Entertainment Resorts | 1 Comment

Atlantic City: The good, the bad and the very ugly

Posted on September 22, 2014 by David McKee

Taking a glass-half-full view of Atlantic City, CEO of MGM Resorts International Jim Murren wanted back in. Why not, when it means having half of by far the dominant joint in town, Borgata? Now that MGM has been vetted and … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Donald Trump, Glenn Straub, Harrah's, Internet gambling, Japan, Massachusetts, Mohegan Sun, Revel, Trump Entertainment Resorts | Comments Off on Atlantic City: The good, the bad and the very ugly

Why is this man smiling?; The daffy world of Glenn Straub

Posted on September 19, 2014 by David McKee

“Restructure! Restructure! Restructure! That’s all he ever does because that’s all he can do!” That was a friend of mine, speaking in exasperation of Donald Trump. However, today the remark could be updated to refer to Gary Loveman. The CEO … Continue reading →

Posted in Architecture, Atlantic City, Donald Trump, Glenn Straub, Harrah's, IGT, Maryland, Massachusetts, MGM Mirage, Revel, Transportation, Wall Street | 1 Comment

Caesars inspires legislation; Decision time for Wynn

Posted on September 18, 2014 by David McKee

As New Jersey forces the issue of sports betting, two lawmakers are offering the major leagues the one thing they can’t resist: money. State Sen. James Whelan (D) and Asm. Vincent Mazzeo (D) are propounding a quarter-of-a-percent tax on all wagers. … Continue reading →

Posted in Atlantic City, Election, Glenn Straub, Harrah's, Massachusetts, MGM Mirage, Mohegan Sun, Penn National, Politics, Revel, Sports, Steve Wynn | Comments Off on Caesars inspires legislation; Decision time for Wynn

Foxwoods: Woody exits; Eldorado’s big gains

Posted on September 18, 2014 by David McKee

Foxwoods Resorts Casino‘s financial problems could hardly be called “solved,” but CEO Scott “Woody” Butera plans to leave next month anyway for a non-gaming job. He will continue to advise Foxwoods from his new perch, though, even dickering with the … Continue reading →

Posted in Boyd Gaming, Churchill Downs, Foxwoods, Harrah's, Isle of Capri, Louisiana, Massachusetts, MTR Gaming, Ohio, Penn National, Pinnacle Entertainment, Racinos, Reno, Tropicana Entertainment, West Virginia | 1 Comment

Oh no, not him again!

Posted on September 17, 2014 by David McKee

Donald Trump is posturing as the potential rescuer of Trump Plaza and Trump Taj Mahal, provided he can get them dirt cheap. (Principal creditor Carl Icahn will have a thing or two to say about that.) In true Trump fashion, he … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Colony Capital, Economy, Glenn Straub, Harrah's, Revel, Trump Entertainment Resorts | 1 Comment

Case Bets: Multimedia, Philadelphia, Maryland

Posted on September 17, 2014 by David McKee

Here’s a vivid account of Multimedia Games‘ reversal of fortune, how a company focused on B-level gaming markets established a presence in Nevada, Atlantic City and Pennsylvania, and improved its value sufficiently to make it a takeover target for Global … Continue reading →

Posted in Cordish Co., Global Cash Access, Harrah's, Marketing, Maryland, MGM Mirage, Penn National, Pennsylvania, Problem gambling, Regulation, Technology | 1 Comment

Cycle of futility; Hard luck in Indian Country

Posted on September 15, 2014 by David McKee

As the casino industry braces itself for Global Gaming Expo, this could hardly be a worse moment to be hawking slot machines. Not only is it undergoing a painful contraction but new markets (like Boston and Washington, D.C.) are a … Continue reading →

Posted in Atlantic City, Bally Technologies, California, Economy, G2E, Harrah's, IGT, Maryland, Massachusetts, Mississippi, Revel, Scientific Games, Station Casinos, Tribal, Trump Entertainment Resorts | Comments Off on Cycle of futility; Hard luck in Indian Country

When a loss is a gain

Posted on September 12, 2014 by David McKee

Come this time next month, we could easily be reporting year/year gains in Atlantic City. Last month, as Revel and Showboat were winding down operations, the Boardwalk was only 1% off last year’s pace. Internet gambling played a role in … Continue reading →

Posted in Atlantic City, Carl Icahn, Current, Economy, Harrah's, Internet gambling, Mohegan Sun, New York, Revel, Tilman Fertitta, Trump Entertainment Resorts | 1 Comment