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Category Archives: Harrah's
Trop this!
The fourth time’s the charm — at least if you’re Justice Gary Stein, the tortoise-powered conservator of the Atlantic City Tropicana. Having prolonged the timeline for selling the mammoth hotel-casino three times already, he’s asking the state for a fourth … Continue reading
Posted in Atlantic City, Columbia Sussex, Harrah's, Regulation, Tropicana Entertainment
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Happy anniversary, you're fired
That was essentially the message conveyed to several dozen workers at MGM Grand Detroit as the hotel-casino passed its first anniversary. Such cutbacks are usually routine in the industry and this one affected but a fraction of a percentage of … Continue reading
Posted in Atlantic City, Boyd Gaming, Detroit, Gary Goett, Harrah's, MGM Mirage, Tribal, Wall Street
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Harrah's wants your two cents
Not as in your opinion, this time, but just to book a room. That’s right, guys, Harrah’s Las Vegas is offering two-cent Tuesdays. The catch is you have to stay in the Strip casino that most closely resembles an urban … Continue reading
Posted in Architecture, Harrah's, Sheldon Adelson, The Strip, TV
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Case Bets: PR, Trump
Press releases are always manna on a slow news day but sometimes you get one (OK, many) that make you want to pull your hair. For instance, I received such a specimen late yesterday from an agency that shall remain … Continue reading
Posted in Architecture, Dining, Donald Trump, Downtown, Harrah's, Steve Wynn, The Strip, Tilman Fertitta, Tropicana Entertainment
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Station gets it; In defense of Boyd
Kudos to Station Casinos for agreeing to give its employees first dibs on apartments to be built near Fiesta Henderson. This is a story that fell through the cracks recently but deserves to be highlighted. The land was originally set … Continue reading
Posted in Boulder Strip, Boyd Gaming, Harrah's, Morgans Hotel Group, Sheldon Adelson, Station Casinos, Steve Wynn, The Strip
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Penn impresses analysts
Penn National threw open its doors to Wall Street and JP Morgan, for one, came away impressed by what it heard. Basically, management is charting a fiscally conservative course, even though it could eventually reap $1.2 billion from its busted … Continue reading
Posted in Atlantic City, Boyd Gaming, Colorado, Election, Harrah's, Penn National, Taxes, Wall Street
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Telemundo rescues Neonopolis
OK, so they’re now calling it “Fremont Square,” but it’s still like a fugly fortress-like concrete cube that was somebody’s perverse notion of a shopping center. However, the local Telemundo affiliate wants to move its broadcast and studio operations into … Continue reading
Eastside Cannery update
Yesterday, I asked how William Paulos and William Wortman were able to bring in Eastside Cannery (which opens tonight) for 250 million clams — $425 million less than Station Casinos is splurging on Aliante Station. In today’s Sun, Liz Benston … Continue reading
Posted in Boulder Strip, Cannery Casino Resorts, Current, Harrah's, Station Casinos
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Trop to Eldorado: "Never mind"
In the strongest sign to date that company owner William J. Yung III has been banished to the doghouse, Tropicana Entertainment formally reneged on its sale of Casino Aztar to Reno-based Eldorado Resorts. The latter could walk away with as … Continue reading
Posted in Columbia Sussex, Harrah's, Indiana, Kansas, Regulation
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Kansas, Round 1: It's Harrah's, Penn
Score one victory each for Harrah’s Entertainment and Penn National Gaming in the first round of casino concessions awarded in Kansas today (with Round 2 to follow in a month). But there’s really only one winner … …. and it’s … Continue reading
Posted in Ameristar, Harrah's, Kansas, Movies, Penn National
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From bad to worse
British Reuters lays out a dire scenario for casino bonds, the second-most-distressed sector of the junk-bond market (only media firms are doing worse). "We believe it probably hasn't hit its bottom," is the grave verdict of Moody's Investors Service analyst … Continue reading
Posted in Columbia Sussex, Donald Trump, Harrah's, Isle of Capri, Morgans Hotel Group, Sheldon Adelson, Station Casinos, The Strip, Wall Street
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Trop sale stumbles forward … sorta
If Justice Gary Stein, the state-appointed trustee for the Atlantic City Tropicana Casino & Resort, isn’t the most inept public servant in America, it’s not for lack of effort. Add nepotism to his string of failings, as his ever-less-credible pronouncements … Continue reading
Posted in Atlantic City, Columbia Sussex, Harrah's, Indiana, MGM Mirage, Penn National, Pinnacle Entertainment, The Strip
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This is news?; plus Station/Harrah's/Echelon notes
Way back when Vestin Group made a loan to the Castaways that exceeded the doomed casino's appraised value (as revealed by a Vestin-commissioned appraisal that miraculously emerged when the Castaways filed for bankruptcy*), I did some digging into Vestin's financials. … Continue reading
Posted in Boyd Gaming, Harrah's, Morgans Hotel Group, Station Casinos, The Strip, Wall Street
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Trop turnaround?
While the New Jersey Casino Control Commission continues to bobble the sale of the Atlantic City Tropicana, at least its stewardship has arrested and perhaps finally the property's decline. While a 5.5% decline in business is nothing to crow over, … Continue reading
Posted in Atlantic City, Boyd Gaming, Colorado, Columbia Sussex, Donald Trump, Harrah's, Kansas, Station Casinos, Tribal
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Case Bets: MGM Mirage, Ameristar, Penn National
It almost goes without saying right now that any earnings report is going to come in slightly below Wall Street’s consensus. That’s just the way the dice are bouncing these days. Such is the case with MGM Mirage, where Strip … Continue reading
Posted in Ameristar, Colorado, Detroit, Harrah's, Illinois, Indiana, MGM Mirage, Penn National, The Strip, Wall Street
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Ola, Amigo!
As of yesterday, I'm a newly minted Amigo card holder, having joined Station Casinos' spinoff players club for its Fiesta properties. (Chalk up a very modest victory for Fiesta's spirited marketing efforts.) Why Station, having put nearly a decade of … Continue reading
Posted in Ameristar, Boulder Strip, George Maloof, Harrah's, MGM Mirage, Station Casinos, The Strip
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Ameristar: What makes sense?
Perhaps this is what happens when you outsource your business coverage to India, but Reuters had a story yesterday positing MGM Mirage and Harrah's Entertainment as two of the likeliest buyers for Ameristar Casinos. Uhhh, I hate to break this … Continue reading
Posted in Ameristar, Boyd Gaming, Downtown, Harrah's, James Packer, MGM Mirage, Mississippi, Missouri, Penn National, Pinnacle Entertainment, The Strip, Tribal, Wall Street
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We're no Pyongyang!
A story about an unsightly, unfinished ziggurat in Pyongyang, North Korea afforded an architecture critic an opportunity to throw a roundhouse right at Las Vegas. Lumping it together with Shanghai as the bad-architecture capital of the world, California Polytechnic State … Continue reading
Posted in Architecture, Columbia Sussex, Downtown, Harrah's, Michael Gaughan, Stanley Ho, The Strip
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