Category Archives: Harrah's

Hooters vs. Riviera

Posted on March 31, 2009 by David McKee

It's a race to Chapter 11 now, with Riviera Holdings in the lead. Its glandular-themed rival down the street is opting out of an interest payment and drawing down the last of its credit, never a promising sign. However, Riviera … Continue reading →

Posted in Colorado, Economy, Harrah's, Riviera, Station Casinos, The Strip, Wall Street | Comments Off on Hooters vs. Riviera

Trop snoozes, loses

Posted on March 26, 2009 by David McKee

Like a hot potato, the Tropicana Las Vegas continues to bounce from Columbia Sussex to Tropicana Entertainment and now maybe into the hands of Alex Yemenidjian. (This management-contract arrangement looks more like laying the groundwork for a sale … if … Continue reading →

Posted in Alex Yemenidjian, Architecture, Atlantic City, Columbia Sussex, Current, Economy, Entertainment, Harrah's, Indiana, Marketing, Technology, The Strip, Tropicana Entertainment, Wall Street | Comments Off on Trop snoozes, loses

Casino apocalypse

Posted on March 19, 2009 by David McKee

I'm deeply imbedded in other projects today. In the meantime, by way of In Business Las Vegas and GamingFloor.com (source of yesterday's Harrah's Entertainment time warp, too) here's the answer to the question, "How many casino failures can you pack … Continue reading →

Posted in Boyd Gaming, Cannery Casino Resorts, Colony Capital, Cosmopolitan, Current, Economy, Harrah's, Herbst Gaming, James Packer, MGM Mirage, Sheldon Adelson, Station Casinos, Steve Wynn, The Strip, Wall Street | Comments Off on Casino apocalypse

Case Bets: MGM Mirage, Harrah's, Wynn, Shuffle Master, Taxes

Posted on March 17, 2009 by David McKee

As we wait for the MGM Mirage earnings report, signs of desperation mount. If the company is willing to cast away a pearl like new, costly and high-yielding MGM Grand Detroit, what isn’t sacred? Not even the corporate jet, provided … Continue reading →

Posted in Columbia Sussex, Current, Detroit, Economy, Goldman Sachs, Harrah's, Labor, Lake Tahoe, Louisiana, MGM Mirage, Mississippi, Pinnacle Entertainment, Shuffle Master, Steve Wynn, Taxes, Technology, Wall Street | Comments Off on Case Bets: MGM Mirage, Harrah's, Wynn, Shuffle Master, Taxes

A twist of Fator

Posted on March 17, 2009 by David McKee

We took in Saturday night’s opening of Terry Fator and his Cast of Thousands, as did quite a few C- and D-list celebrities, plus several MGM Mirage executives — no doubt enjoying 90 minutes’ respite from worrying about their company’s … Continue reading →

Posted in Cirque du Soleil, Current, Entertainment, Harrah's, MGM Mirage, The Strip, TV | Comments Off on A twist of Fator

'M' is for 'mobbed'

Posted on March 16, 2009 by David McKee

Local naysayers have been gleefully predicting the swift demise of M Resort for weeks now. And I’ll admit I even entertained a few doubts as we drove out there yesterday morning. I mean, unless you live well south of Vegas … Continue reading →

Posted in Boyd Gaming, Dining, Donald Trump, Gary Goett, Harrah's, M Resort, Station Casinos | Comments Off on 'M' is for 'mobbed'

Big bounce in Pennsylvania

Posted on March 5, 2009 by David McKee

Casino revenues in the Keystone State leapt 14% from February of Leap Year to this year, at least at six of the state's seven casinos. (Hollywood Casino at Penn National Race Course is excluded; it wasn't open a year ago.) … Continue reading →

Posted in Cannery Casino Resorts, Harrah's, James Packer, Neil Bluhm, Penn National, Pennsylvania, Sheldon Adelson, Taxes, Tribal | Comments Off on Big bounce in Pennsylvania

Harrah's new Atlantic City pitch

Posted on March 4, 2009 by David McKee

Two minutes of Asian American-oriented marketing messages, all of which boil down to, “Atlantic City: It’s not just for gambling anymore.” Lots of Total Rewards pluggery, as you’d expect, but oddly no mention of the new ACES train, of which … Continue reading →

Posted in Atlantic City, Boyd Gaming, Harrah's, Marketing | Comments Off on Harrah's new Atlantic City pitch

This is your industry on crack

Posted on March 3, 2009 by David McKee

Finally, someone (in this case, Liz Benston) has written the definitive user-friendly analysis of how the casino industry crashed and burned. To try and quote the salient points would require little short of reprinting the entire article (to say nothing … Continue reading →

Posted in Boyd Gaming, Colony Capital, Downtown, Economy, Harrah's, Herbst Gaming, Isle of Capri, Louisiana, MGM Mirage, Missouri, Station Casinos, The Strip, Wall Street | Comments Off on This is your industry on crack

Harrah's enjoys bailout

Posted on March 3, 2009 by David McKee

“Critics argue that the tax-law change rewards companies that took on too much leverage during the credit bubble, such as those that were bought by private-equity firms.” Sound like anybody we know? How about Harrah’s Entertainment, which played Russian roulette … Continue reading →

Posted in Colony Capital, Economy, Harrah's, James Packer, Macau, Melco Crown Entertainment, MGM Mirage, Politics, Sheldon Adelson, Station Casinos, Taxes, Wall Street | Comments Off on Harrah's enjoys bailout

Comp cutbacks in Atlantic City

Posted on March 3, 2009 by David McKee

Last week, the Press of Atlantic City reported a 5% drop in comping along the Boardwalk and Marina District. However, the story played it as merely a reflection of decreased business in Atlantic City. Yesterday, however, The Associated Press weighed … Continue reading →

Posted in Atlantic City, Colony Capital, Donald Trump, Economy, Harrah's | Comments Off on Comp cutbacks in Atlantic City

Strike at the Trop

Posted on March 2, 2009 by David McKee
Posted in Atlantic City, Columbia Sussex, Harrah's, Regulation, Tropicana Entertainment | Comments Off on Strike at the Trop

MGM Mirage: Uh-oh; "Off the box"

Posted on February 27, 2009 by David McKee

Following in the footsteps of Station Casinos and Harrah's Entertainment, now MGM Mirage is drawing its revolver, so to speak, to fund operating expenses. This is never a good sign. Earlier this week we learnt that all of Kirk Kerkorian's … Continue reading →

Posted in Cirque du Soleil, Donald Trump, Economy, Fontainebleau, Harrah's, MGM Mirage, Station Casinos, Wall Street | Comments Off on MGM Mirage: Uh-oh; "Off the box"

"Sin City Express"

Posted on February 27, 2009 by David McKee

Expect to be hearing that catchy new canard a lot, not to mention the “Las Vegas to Disneyland” little white lie that Gov. Opie Jindal (R-LA) trotted out in his Tuesday-night audition for the 2012 presidential nomination. “Vegas to Disneyland” … Continue reading →

Posted in Boyd Gaming, Harrah's, Louisiana, Politics, Sheldon Adelson, Singapore, Technology, The Strip | Comments Off on "Sin City Express"

Boyd vs. Station II

Posted on February 26, 2009 by David McKee

Well, that was a waste of a good hour. Boyd Gaming teased its Thursday morning conference call with intimations that All (or at least Some) Would Be Revealed about its surprise bid for most of the assets of Station Casinos. … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, Downtown, Economy, Florida, Harrah's, Indiana, Louisiana, Station Casinos, The Strip, Tribal, Wall Street | Comments Off on Boyd vs. Station II

Case Bets: Penn in Vegas, Fontainebleau, Fine Cotton R.I.P.

Posted on February 21, 2009 by David McKee

Phil Hevener, the guy who was onto the Imperial Palace sale before anyone else, says Penn National pitched offers for not only The Mirage but also Caesars Palace … at insultingly low EBITDA multiples (see bottom of story). The Strip … Continue reading →

Posted in Australia, Boyd Gaming, Fontainebleau, Harrah's, Horseracing, MGM Mirage, Penn National, The Strip, Tribal | Comments Off on Case Bets: Penn in Vegas, Fontainebleau, Fine Cotton R.I.P.

Case Bets: Penn in Vegas, Fontainebleau, Fine Cotton R.I.P.

Posted on February 21, 2009 by David McKee

Phil Hevener, the guy who was onto the Imperial Palace sale before anyone else, says Penn National pitched offers for not only The Mirage but also Caesars Palace … at insultingly low EBITDA multiples. The Strip has seen much better … Continue reading →

Posted in Australia, Boyd Gaming, Fontainebleau, Harrah's, Horseracing, MGM Mirage, Penn National, The Strip, Tribal | Comments Off on Case Bets: Penn in Vegas, Fontainebleau, Fine Cotton R.I.P.

Sludge Report

Posted on February 18, 2009 by David McKee

Kudos to the Las Vegas Review-Journal‘s Howard Stutz for keeping an eye on an especially skanky provision of the economic-stimulus package, a sweetheart provision engineered by Sen. Harry Reid (D-NV). It awards companies — like vocal supporter MGM Mirage — … Continue reading →

Posted in California, Economy, Harrah's, MGM Mirage, Politics, Sheldon Adelson, Station Casinos | Comments Off on Sludge Report

Looking for good news in Vegas

Posted on February 12, 2009 by David McKee

If I wanted to drive myself to strong drink, I could write about depressing, atrocious numbers coming out of Nevada casinos in December. But as that great philosopher, Linus in Peanuts, would remind me, it's better to light a single … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, Downtown, Economy, Gary Goett, George Maloof, Harrah's, Laughlin, MGM Mirage, Michael Gaughan, Morgans Hotel Group, Station Casinos, Tamares Group, Texas, The Strip, Tilman Fertitta, Tribal, Wall Street | Comments Off on Looking for good news in Vegas

Missouri: Dough and "D'oh!"

Posted on February 11, 2009 by David McKee

Silly me. I had the Missouri numbers sitting in my "Inbox" all day yesterday and simply overlooked them amidst a typically frenetic day. A big "thank you" though to reader Bob Bradley, who provided the short and long versions (click … Continue reading →

Posted in Ameristar, Harrah's, Isle of Capri, Missouri, Penn National, Pinnacle Entertainment, Wall Street | Comments Off on Missouri: Dough and "D'oh!"