Category Archives: Harrah's

Gold Coast buffet

Posted on July 18, 2008 by David McKee

Our ongoing buffet crawl took us to the Gold Coast last night. After applying a Pocketbook of Values coupon, it came out to $11.80 for two people, which definitely counts as a bargain play, provided you manage your expectations somewhat. … Continue reading →

Posted in Boyd Gaming, Harrah's, Isle of Capri, Mississippi, Wall Street | Comments Off

The Ameristar war begins

Posted on July 17, 2008 by David McKee

Just a quick hit on my way out the door to spend an evening prepping for The Dark Knight by watching Batman Begins … Ameristar's in play. No news flash there and, for the life of me, I can't figure … Continue reading →

Posted in Ameristar, Boyd Gaming, Columbia Sussex, Harrah's, Illinois, Indiana, Isle of Capri, James Packer, MGM Mirage, Penn National, Pennsylvania, Pinnacle Entertainment, The Strip, Wall Street | Comments Off

Case Bets: Orleans, El Cortez, Harrah's arena

Posted on July 16, 2008 by David McKee

I’m in the second day of stomach flu, so small portions are advisable … A “juice job” that followed two fatalities at The Orleans has come under federal scrutiny. In an unrelated development, Boyd Gaming board member Luther Mack has … Continue reading →

Posted in Boyd Gaming, Downtown, Harrah's | Comments Off

Indiana: It sure could be worse

Posted on July 8, 2008 by David McKee

… because you could be Illinois, where June gambling revenues went into the toilet (-21%). Which isn’t to say that Indiana‘s numbers look good only by comparison. In fact, the Hoosier State may be benefiting from the Land of Lincoln’s … Continue reading →

Posted in Boyd Gaming, Columbia Sussex, Harrah's, Indiana, Penn National, Pinnacle Entertainment, Tribal, Wall Street | Comments Off

Harrah's: Just as predicted

Posted on July 2, 2008 by David McKee

… it's servicing its debt by issuing more debt. This isn't necessarily a bad thing, as it will save the company $100 million. "What is more curious, if not troubling, is the reference to retiring debt taking advantage of current … Continue reading →

Posted in Atlantic City, Boyd Gaming, Harrah's, Wall Street | Comments Off

Vegas Right Now = Bargain Country

Posted on July 2, 2008 by David McKee

While the Las Vegas Convention & Visitors Authority may blanch from peddling bargain-oriented messages, we don’t. While it wasn’t that long ago that some of us were mourning the apparent demise of on-Strip bargains — or redefining said bargains as … Continue reading →

Posted in Boulder Strip, Harrah's, LVCVA, Macau, MGM Mirage, Riviera, Sheldon Adelson, Station Casinos, The Strip, Wall Street | Comments Off

Denial in the suites

Posted on July 1, 2008 by David McKee

Gary Loveman must be working on his stand-up act. In today’s Wall Street Journal, he calls the present economic pickle “the toughest environment we’ve faced.” It might not be quite so difficult had Loveman not steered Harrah’s Entertainment (and its … Continue reading →

Posted in Columbia Sussex, Harrah's, Isle of Capri, Penn National, Station Casinos, Wall Street | Comments Off

Something's brewing on Koval; Echelon goes underground

Posted on June 26, 2008 by David McKee

Harrah’s Entertainment continues to demolish the low-rise apartment dwellings it accumulated behind its Barbary Coast/Flamingo/Imperial Palace/Harrah’s Las Vegas cluster of properties. Also, a shiny new fleet of construction trailers now sits where Bourbon Street‘s hotel tower once did. Could we … Continue reading →

Posted in Boyd Gaming, Harrah's, MGM Mirage, Movies, The Strip | Comments Off

Case Bets: Airport, Encore, Pahrump, Roadhouse

Posted on June 25, 2008 by David McKee

You know things are bad when McCarran International Airport offers space for three hotel-registration kiosks (ranging from 525 to 935 square feet, starting at $200/foot) and can’t find takers for all of them. Fifteen possible candidates were solicited and, when … Continue reading →

Posted in Boulder Strip, Current, Harrah's, MGM Mirage, Sheldon Adelson, Steve Wynn, The Strip | Comments Off

"Risky" Harrah's; Yanks Heart Seminoles

Posted on June 20, 2008 by David McKee

Reuters reported this week that the debt carried by Harrah's Entertainment “may weaken from already distressed level as heavy capital spending and interest payments absorb cash flows at a time when the casino operator is also facing declining gambling revenues.” … Continue reading →

Posted in Baseball, Harrah's, Tribal, Wall Street | Comments Off

Blasts from the past

Posted on June 18, 2008 by David McKee

Snuggled inconspicuously in a recent El Cortez press release was the disclosure that the newly reconfigured ownership will include one Lonny Zarowitz. The aforesaid Zarowtiz figures briefly in John L. Smith's Running Scared: The Life and Treacherous Times of Las … Continue reading →

Posted in Downtown, Harrah's, International, Regulation, Steve Wynn, The Strip, TV | Comments Off

"Casino Bonds Crush Harrah's"

Posted on June 3, 2008 by David McKee

That’s Bloomberg, bearing the dire news that casino junk-bond debt is “generating the worst return for investors as companies from … Harrah’s Entertainment Inc. to Herbst Gaming Inc. risk bankruptcy under the weight of their debt.” With a return of … Continue reading →

Posted in Atlantic City, Columbia Sussex, Detroit, Donald Trump, Harrah's, Herbst Gaming, Indiana, Station Casinos, TV, Wall Street | Comments Off

Trop Trojan Horse barred from gates

Posted on June 2, 2008 by David McKee

Much to the dismay of senior debtholders, perhaps, a Delaware bankruptcy judge OK'd $67 million in additional borrowing by Tropicana Entertainment, money the company says it needs for operational expenses. However, the court backhanded an even bigger loan offer from … Continue reading →

Posted in Columbia Sussex, Harrah's, Isle of Capri | Comments Off

The curse of Columbia Sussex

Posted on May 30, 2008 by David McKee

Unsecured Tropicana Entertainment creditors are opposing Columbia Sussex's effort to borrow $67 million in operating capital (which would push existing creditors even further toward the back of the queue). The Wilmington, Del., bankruptcy court has yet to rule. Whoops. By … Continue reading →

Posted in Columbia Sussex, Harrah's, The Strip | Comments Off

Bargains? Shhhhhhhhhhhh!

Posted on May 28, 2008 by David McKee

Liz Benston takes a look today at the newest message from the Las Vegas Convention & Visitors Authority and finds the LVCVA “thinks it’s bad form to make references to ‘affordable’ and ‘cheap.’” Oh yes, God forbid anybody should think … Continue reading →

Posted in Atlantic City, California, Downtown, Harrah's, LVCVA, Marketing, MGM Mirage, Sheldon Adelson, Station Casinos, The Strip | Comments Off

Harrah's: Digging to China

Posted on May 23, 2008 by David McKee

Given the recent freeze-out on new casino operators in Macao, executives at Harrah’s Entertainment might as well be sporting T-shirts that read, “I spent $577.7 million in Macao and all I got was this lousy golf course.” And, in light … Continue reading →

Posted in Ameristar, Atlantic City, Harrah's, Macau, MGM Mirage, Penn National, Pennsylvania, The Strip, Tribal, Wall Street | Comments Off

Cliché of the Year

Posted on May 20, 2008 by David McKee

"It's hard to pinpoint which one it is, but it's like the perfect storm — they all hit you at the same time." — Harrah's Entertainment Eastern Division President J. Carlos Tolosa. Nothing against Mr. Tolosa but this is becoming … Continue reading →

Posted in Atlantic City, Columbia Sussex, Harrah's, Pennsylvania | Comments Off

The Alystra is toast

Posted on May 14, 2008 by David McKee

OK, so it was a derelict that's been closed for 10 years and unlikely ever to reopen. But the Alystra is now officially "a total loss." Too bad. It was an attractive building that happened to sit in a sort … Continue reading →

Posted in Architecture, Boulder Strip, Election, Harrah's, Penn National, Regulation, Sheldon Adelson | 1 Comment

Not smoking stunts your (revenue) growth

Posted on May 7, 2008 by David McKee

Let's get one thing clear: Smoking is a noxious habit that's likely to kill you and certain to alienate other people, in my opinion. (I had two grandparents who smoked until the air turned blue, then smoked some more, which … Continue reading →

Posted in Boyd Gaming, Harrah's, Illinois, MGM Mirage, Penn National, Regulation, Sheldon Adelson | Comments Off

Same as it ever was?

Posted on May 2, 2008 by David McKee

Nothing lasts. I’m finding that out the hard way as the acid in the paper labels in my CD collection eat through the discs, gradually rendering them unplayable and sending me into a race between preservation and catastrophe. (When last … Continue reading →

Posted in Boyd Gaming, Columbia Sussex, Harrah's, Herbst Gaming, Station Casinos, The Strip | Comments Off