Category Archives: Herbst Gaming

The Company That Ate Itself

Posted on April 1, 2009 by David McKee

Perhaps it was with dry irony that the Las Vegas Review-Journal's latest Station Casinos story's subhead read, "Company blames economy, poached customers." And by whom might those customers have been poached? By Station Casinos itself! The company's imperial overreach has … Continue reading →

Posted in Boulder Strip, Cannery Casino Resorts, Colony Capital, Economy, Herbst Gaming, M Resort, Station Casinos, The Strip | Comments Off on The Company That Ate Itself

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

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

21

Posted on December 31, 2008 by David McKee

That's the number of predictions for 2009 issued by Spectrum Gaming Group, an Atlantic City-based outfit. They are, in no particular order: • Advancements in technology that impact revenues and cut costs will continue to be attractive to operators even … Continue reading →

Posted in Boyd Gaming, Colony Capital, Columbia Sussex, Cosmopolitan, Current, Don Barden, Economy, Harrah's, Herbst Gaming, IGT, International, Internet gambling, Isle of Capri, Macau, Marketing, MGM Mirage, Morgans Hotel Group, Pinnacle Entertainment, Politics, Regulation, Sheldon Adelson, Station Casinos, Steve Wynn, Technology, Tribal, Wall Street | Comments Off on 21

Case Bets: Stanley Ho in Vegas?, HRH grows but Morgans shrinks

Posted on December 11, 2008 by David McKee

A local columnist raises the spectre of Stanley Ho getting back-door access into Las Vegas via James Packer‘s acquisition of Cannery Resorts. This isn’t the first time I’ve heard this question raised and, call me complacent, but I believe it … Continue reading →

Posted in Boyd Gaming, Cannery Casino Resorts, Colony Capital, Columbia Sussex, Cosmopolitan, Economy, Harrah's, Herbst Gaming, Isle of Capri, James Packer, Macau, MGM Mirage, Morgans Hotel Group, Stanley Ho, Station Casinos, The Strip, Tropicana Entertainment, Wall Street | Comments Off on Case Bets: Stanley Ho in Vegas?, HRH grows but Morgans shrinks

What'$ in a name?

Posted on December 10, 2008 by David McKee

A reader recently enquired as to what became of the plan to re-name Harrah's Entertainment as Caesars Entertainment. When I asked Harrah's as to whether that was still on, no response was forthcoming. My questioner wanted to know, "Do you … Continue reading →

Posted in Atlantic City, Boyd Gaming, Detroit, Economy, Harrah's, Herbst Gaming, Indiana, Marketing, MGM Mirage, Sheldon Adelson, The Strip | Comments Off on What'$ in a name?

Collapse in Kansas; Herbst is toast

Posted on December 5, 2008 by David McKee

And then there was one. A Cordish Co./Kansas Speedway joint venture has pulled the chicken switch on a $400 million casino project. This leaves avionics firm Butler National Service Corp., with its Dodge City concession, as the only company with … Continue reading →

Posted in Ameristar, Economy, G2E, Harrah's, Herbst Gaming, Horseracing, International, Kansas, Macau, MGM Mirage, Penn National, Pinnacle Entertainment, Regulation | Comments Off on Collapse in Kansas; Herbst is toast

G2E scuttlebutt

Posted on November 24, 2008 by David McKee

Could Herbst Gaming President Ferenc Szony be headed to the Cosmopolitan? That was one of the rumors bruited about at G2E last week. It would make sense. Szony, one of S&G's favorite gaming executives, is no stranger to operating in … Continue reading →

Posted in Cosmopolitan, G2E, Harrah's, Herbst Gaming, James Packer, Reno | Comments Off on G2E scuttlebutt

More bankruptcies predicted

Posted on August 12, 2008 by David McKee

Financial Week weighs in the casino industry's current doldrums, amplifying the newly recurrent refrain that the revenue diversification which we thought would shield Las Vegas and other destination markets from the bad times is instead increasing its exposure to same. … Continue reading →

Posted in Boyd Gaming, Herbst Gaming, Indiana, Morgans Hotel Group, Sheldon Adelson, The Strip, TV, Wall Street | Comments Off on More bankruptcies predicted

Honey, I shrank Lake Las Vegas

Posted on July 30, 2008 by David McKee

Saying that a potentially ruptured pipe could drain Lake Las Vegas and turn it into one big-ass mud puddle in the desert conjures up quite an image. It’s also effective rhetoric if you’re trying to stampede the bankruptcy court into … Continue reading →

Posted in Animals, Herbst Gaming, Lake Las Vegas, Pets, Station Casinos | Comments Off on Honey, I shrank Lake Las Vegas

"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 on "Casino Bonds Crush Harrah's"

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 on Same as it ever was?

'Terrible' timing

Posted on March 3, 2008 by David McKee

By golly, it seems like a mere nine days ago that a local newspaper story was reporting disproportionately strong lottery sales at a California-border store owned by Herbst Gaming. "Since taking over the store, the location's total lottery ticket sales have … Continue reading →

Posted in Atlantic City, Columbia Sussex, Herbst Gaming, MGM Mirage, Penn National, Pinnacle Entertainment | Comments Off on 'Terrible' timing