Category Archives: Harrah's

PokerStars blows it; Wynn woos Philadelphia

Posted on May 20, 2013 by David McKee

Score one for Colony Capital: It took Rational Group to the cleaners to  the tune of $11 million and there’s nothing Rational can do about it. A New Jersey court ruled that the PokerStars parent company had no one to … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Colony Capital, Current, Dining, Donald Trump, Economy, Entertainment, Harrah's, Internet gambling, Isle of Capri, Marketing, Neil Bluhm, Penn National, Pennsylvania, Revel, Steve Wynn, Tilman Fertitta, Tropicana Entertainment | 2 Comments

Penn cloning process proceeds

Posted on May 17, 2013 by David McKee

Penn National Gaming has filed paperwork with the SEC for an IPO that would enable you to buy into 19 Penn casinos, including flop Hollywood Perryville (shown). This Penn stalking horse would go by the incredibly generic name of Gaming … Continue reading →

Posted in Architecture, Current, Harrah's, Maryland, Massachusetts, MGM Mirage, Penn National, Pennsylvania, The Strip, Wall Street | Comments Off on Penn cloning process proceeds

Big setback in Toronto; Wynn rebuffed; Cuomo’s winning streak

Posted on May 17, 2013 by David McKee

One of gaming’s biggest new markets went out with a whimper, not a bang, when colorful Toronto Mayor Rob Ford nixed a scheduled vote on whether to put a casino in the lakeside city, hoping to extract a $97 million … Continue reading →

Posted in Colorado, Current, Dan Gilbert, Detroit, Economy, Harrah's, Horseracing, International, Massachusetts, MGM Mirage, New York, Penn National, Politics, Racinos, Regulation, Steve Wynn, Taxes, Texas, Tribal | 1 Comment

Profit vs. investment on the Strip

Posted on May 16, 2013 by David McKee

Even if you’re making money on a daily basis, sometimes a casino-resort can be a bad investment. Take Cosmopolitan of Las Vegas, which finally posted a profitable quarter. However, at $3.9 billion in construction costs (now at or very near … Continue reading →

Posted in CityCenter, Cosmopolitan, Detroit, Dubai, Economy, Entertainment, Fontainebleau, Genting, Harrah's, MGM Mirage | 1 Comment

Big vote in Beantown?; Penn National short-sheets Maryland

Posted on May 14, 2013 by David McKee

That’s what it could come to in Boston, if mayoral candidate — and current Suffolk County D.A. — Daniel Conley gets his wish. Rather than simply letting East Boston vote up or down on Caesars Entertainment‘s proposed conversion of Suffolk … Continue reading →

Posted in Architecture, Current, Election, Harrah's, Internet gambling, Maryland, Massachusetts, MGM Mirage, Penn National, Politics, Racinos, Regulation, Station Casinos | 2 Comments

Equivocal anniversary for Ohio; In Massachusetts, progress for MGM and Wynn

Posted on May 13, 2013 by David McKee

So, as Ohio marks the first full year of casino play, is the glass half-full or half-empty. Currently, much is being made of Horseshoe Cleveland having brought in less than half of greatly over-ambitious expectations (and 12% less than what … Continue reading →

Posted in Architecture, Current, Dan Gilbert, Dining, Economy, Entertainment, Harrah's, Massachusetts, MGM Mirage, Ohio, Penn National, Politics, Racinos, Regulation, Steve Wynn, Taxes, Tourism | 3 Comments

So long, Sahara and WMS; Bridge of sighs; Private equity’s newest gamble

Posted on May 10, 2013 by David McKee

Gone and soon to be forgotten is the fugly NASCAR Cafe (site of terrible customer service), one of Bill Bennett‘s dubious ‘enhancements’ to the Sahara during his ownership. Current owner Sam Nazarian is ripping the Sahara apart in earnest, although … Continue reading →

Posted in Architecture, Current, Dan Gilbert, Dining, Harrah's, history, Ohio, Regulation, Sahara, Sam Nazarian, Scientific Games, Sports, The Strip, Wall Street, WMS Industries | 1 Comment

Nevada: The recovery continues; Elsewhere: Not so much

Posted on May 10, 2013 by David McKee

After a boffo February, the Silver State also posted extraordinary numbers in March. As Deutsche Bank headlined its report, “Different Month, Same Tune.” Analyst Carlo Santarelli cautioned, “we believe the underlying trends are not as strong as the headline would … Continue reading →

Posted in Ameristar, Atlantic City, Boulder Strip, Boyd Gaming, Colony Capital, Current, Dan Lee, Donald Trump, Downtown, Economy, Harrah's, Illinois, Iowa, Isle of Capri, Kansas, Lake Tahoe, Laughlin, Marketing, Missouri, North Las Vegas, Penn National, Pinnacle Entertainment, Reno, Revel, The Strip, Tourism, Wall Street | 2 Comments

Retrenchment at Caesars; New brooms at Revel

Posted on May 9, 2013 by David McKee

It was one of the stupefying follies of the Caesars Entertainment LBO that CEO Gary Loveman believed the company could take on $30 billion in debt and continue to expand. Even as he tries to reshuffle old assets into new … Continue reading →

Posted in Ameristar, Atlantic City, Current, Economy, Florida, Harrah's, Iowa, Marketing, Maryland, Massachusetts, Mississippi, Ohio, Revel, Tourism, Warner Gaming | 1 Comment

Cleveland: Gilbert appeases skeptics; Scientific Games dissed

Posted on May 8, 2013 by David McKee

Hey, if you had an albatross the size of Caesars Entertainment slung around your neck, you’d be understandably subject to skepticism and perhaps even being called out in public, perhaps to the point of getting tetchy about it. That’s the … Continue reading →

Posted in Current, Dan Gilbert, Detroit, Harrah's, International, Maryland, Ohio, Racinos, Scientific Games, Technology, Wall Street, WMS Industries | Comments Off on Cleveland: Gilbert appeases skeptics; Scientific Games dissed

Illinois: Quinn caves; Money grab in Missouri

Posted on May 7, 2013 by David McKee

That pesky Illinois Legislature writes up a new, gambling-expansion bill as fast as Gov. Pat Quinn (D, left) can veto the last one. Evidently worn down by long combat with lawmakers and facing a $100 million hole in the state’s … Continue reading →

Posted in Ameristar, Current, Economy, Harrah's, Horseracing, Illinois, Isle of Capri, Missouri, Neil Bluhm, Penn National, Pinnacle Entertainment, Politics, Problem gambling, Racinos, Slot routes | 2 Comments

Steve Wynn turns into Debbie Downer; Caesars’ screwy priorities

Posted on May 2, 2013 by David McKee

Yes, the recovery in Las Vegas could be said to be a chastened and limping one. The national press will leap at just about anything to restart the “Vegas is back” narrative. And yes, CityCenter ROI improved exponentially … to … Continue reading →

Posted in CityCenter, Current, Economy, Election, Harrah's, Horseracing, Macau, Massachusetts, MGM Mirage, Racinos, Regulation, Sheldon Adelson, Steve Wynn, The Strip | 6 Comments

Quote of the Day

Posted on May 2, 2013 by David McKee

“MGM [Resorts International] still has much of its business in on the Strip, unlike its major rivals Las Vegas Sands Corp. and Wynn Resorts … Those companies both reported gains for the first three months of the year because of … Continue reading →

Posted in CityCenter, Current, Harrah's, Macau, MGM Mirage, Sheldon Adelson, Steve Wynn, Wall Street | Comments Off on Quote of the Day

Pinnacle/Ameristar: A done deal; Elaine Wynn’s domino effect

Posted on April 29, 2013 by David McKee

All but a very few Ameristar Casinos shareholders voted to approve the company’s takeover by Pinnacle Entertainment, in one of the fastest M&A deals in industry memory. Regulatory approvals are still pending in Nevada and other states but Ameristar always … Continue reading →

Posted in Ameristar, Dining, Entertainment, Harrah's, Indiana, Iowa, Macau, MGM Mirage, Missouri, Penn National, Pinnacle Entertainment, Regulation, Steve Wynn, Wall Street | Comments Off on Pinnacle/Ameristar: A done deal; Elaine Wynn’s domino effect

The tale of Big and Little Caesars

Posted on April 23, 2013 by David McKee

If you have been waiting for the moment to sell your Caesars Entertainment stock and get out unscathed, even making a tidy profit, that moment is now. Actually, it was March 20 this year, when CZR hit an all-time high … Continue reading →

Posted in Architecture, Florida, Harrah's, history, International, Internet gambling, Maryland, Massachusetts, Planet Hollywood, The Strip, Wall Street | 3 Comments

Quote of the Day

Posted on April 23, 2013 by David McKee

“Apollo’s sixth flagship fund was carrying Caesars [Entertainment] at one-fifth of its $1.34 billion investment as of Sept. 30, according to a marketing document obtained by Bloomberg News. Caesars had returned $158.8 million to the private-equity firm, the document shows.” … Continue reading →

Posted in Harrah's, Wall Street | Comments Off on Quote of the Day

Tamares: The dead walk among us

Posted on April 11, 2013 by David McKee

Uh-oh. This is not good. Tamares Group is going to cease taking room bookings at the Vegas Club. In an ominous phrase, it’s “evaluating its options” for the hotel-casino, whose gambling floor and other amenities are but a pallid shadow … Continue reading →

Posted in Derek Stevens, Dining, Downtown, Economy, Entertainment, Hard Rock Hotel, Harrah's, history, Hooters, International, Tamares Group, Terry Caudill, Tilman Fertitta, Tourism | 5 Comments

A chilly wind in Atlantic City; They gave a casino and nobody came

Posted on April 11, 2013 by David McKee

One doesn’t really think of going to shore in March, so it’s no surprise that Atlantic City casino revenues were — excluding Revel — down 14% last month. The latter grossed $10 million, pulling it almost dead even with the … Continue reading →

Posted in Architecture, Boulder Strip, Boyd Gaming, Colony Capital, Current, Donald Trump, Downtown, Economy, Harrah's, Oklahoma, Revel, Slot routes, Station Casinos, Texas, Tilman Fertitta, Tourism, Transportation, Tribal | Comments Off on A chilly wind in Atlantic City; They gave a casino and nobody came

Ohio: Penn recovers

Posted on April 8, 2013 by David McKee

Decimation of the slot floor at Hollywood Columbus proved to be just what the doctor ordered, “given the initial lackluster start and relatively low investor expectations,” as J.P. Morgan analyst Joseph Greff writes. Minus 515 machines, revenues at H’wood Columbus … Continue reading →

Posted in Current, Dan Gilbert, Harrah's, MTR Gaming, Ohio, Pennsylvania, Racinos, Wall Street | Comments Off on Ohio: Penn recovers

Illinois: Recovering or grasping a branch?

Posted on April 6, 2013 by David McKee

We’re at a point where we can finally say that Illinois‘ colossal slide in casino revenues has ended … at least until people get into the habit of playing video poker in bars. Reckless legislators like Rep. Lou Lang (D), … Continue reading →

Posted in Boyd Gaming, Current, Economy, Harrah's, Illinois, Isle of Capri, MGM Mirage, Neil Bluhm, Penn National, Slot routes | 1 Comment