Category Archives: history

First the good news …

Posted on September 14, 2015 by David McKee

Internet gambling revenues were up 16% in Atlantic City last month, for a $12 million haul. Resorts Atlantic City didn’t get much of the action — 6% — but the other four online operators divvied it up pretty equitably. As … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Glenn Straub, Harrah's, history, Internet gambling, MGM Mirage, Mohegan Sun, Revel, Sports, Tilman Fertitta, Tribal, Tropicana Entertainment, Trump Entertainment Resorts | Comments Off on First the good news …

Culinary Union declares war on Deutsche Bank; The NFL’s dirty hands

Posted on September 14, 2015 by David McKee

Deutsche Bank, in its role as 25% shareholder in Station Casinos, continues to draw fire from the Culinary Union. Let’s clear up a couple of things first. Yes, the Culinary still has an axe to grind with Station over the … Continue reading →

Posted in Culinary Union, Entertainment, Harrah's, history, Oklahoma, Regulation, Sam Nazarian, Sports, Station Casinos, Tamares Group, Tribal | Comments Off on Culinary Union declares war on Deutsche Bank; The NFL’s dirty hands

That wild and crazy Glenn Straub strikes again

Posted on September 10, 2015 by David McKee

Now that wacky Glenn Straub is out of the picture, Stockton University says it is fielding offers for the ex-Showboat. What anybody can do other than run it as a hotel (Caesars Entertainment having removed its gaming entitlement but forgotten … Continue reading →

Posted in Atlantic City, Boyd Gaming, Glenn Straub, GLPI, Harrah's, history, Iowa, Isle of Capri, Missouri, Penn National, Pinnacle Entertainment, Revel, Tilman Fertitta, Tourism, Tropicana Entertainment, Trump Entertainment Resorts, Unite-Here, Warner Gaming | Comments Off on That wild and crazy Glenn Straub strikes again

Quote of the Day

Posted on September 8, 2015 by David McKee

“They are generous, mother-worshippers, sentimental and capable of much kindness. They are also ruthless, cruel, violent and devoid of scruples.” — Noel Coward, on the Mob members he ran across when playing the Desert Inn in 1955.

Posted in history, The Mob, The Strip | Comments Off on Quote of the Day

Turmoil along the Boardwalk

Posted on September 1, 2015 by David McKee

Cult figure Glenn Straub is back in the news again, if indirectly. Stockton University has received Superior Court Judge Julio Mendez‘s blessing to sell the former Showboat and Mendez has enjoined the obstreperous Straub from challenging the sale. Stockton is thereby … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Glenn Straub, history, Marketing, Massachusetts, Neil Bluhm, Regulation, Technology, Tribal, Tropicana Entertainment, Trump Entertainment Resorts, Unite-Here | 1 Comment

Atlantic City profits grow; Good and bad news for Caesars

Posted on August 26, 2015 by David McKee

Second-quarter operating profits in Atlantic City were up everywhere except for — you guessed it — Trump Taj Mahal. The Taj swung from a $2 million profit in 2Q14 to a $900,000 loss, another testament to CEO Bob Griffin‘s inspiring leadership. … Continue reading →

Posted in Arizona, Atlantic City, Boyd Gaming, Carl Icahn, Genting, Georgia, Harrah's, history, International, Mohegan Sun, Politics, Regulation, Revel, Sheldon Adelson, Technology, The Strip, Tilman Fertitta, Tribal, Trump Entertainment Resorts | Comments Off on Atlantic City profits grow; Good and bad news for Caesars

Caesars’ pound of flesh; SLS plays the Red Bull card

Posted on August 21, 2015 by David McKee

Banks and other lending institutions aren’t going to simply forebear while Caesars Entertainment ownership absconds with all the assets. No, they want equity if they’re going to forgive debt and drop lawsuits. And if those lawsuits drag the parent company … Continue reading →

Posted in Election, Harrah's, history, Internet gambling, Marketing, Massachusetts, SLS Las Vegas, Tribal, Wall Street | Comments Off on Caesars’ pound of flesh; SLS plays the Red Bull card

Quote of the Day

Posted on August 14, 2015 by David McKee

“I wondered how in the world we would protect it. And it’s like putting a Renoir in Disneyworld.” — Elaine Wynn, on the genesis of the Bellagio Gallery of Fine Art.

Posted in history, Steve Wynn, The Strip | Comments Off on Quote of the Day

MGM’s cost-discipline difficulties; Wynn framed in Boston

Posted on August 3, 2015 by David McKee

As fast as MGM Resorts International can sell off non-core assets, the proceeds are consumed by new construction. Case in point: MGM National Harbor, whose initial $925 million cost has crept up to $1.3 billion. That’s money that can’t go … Continue reading →

Posted in Architecture, Boyd Gaming, CityCenter, Downtown, Harrah's, history, Illinois, Massachusetts, MGM Mirage, Penn National, Slot routes, Steve Wynn, The Strip | 1 Comment

Up in smoke

Posted on July 27, 2015 by David McKee

We know that Cosmopolitan of Las Vegas owner Blackstone Group wanted to change perceptions of the property but I don’t this is what they had in mind. One measly cigarette seems to have been all it took to send the … Continue reading →

Posted in Cosmopolitan, history, Horseracing, International, Macau, Monte Carlo fire, Pinnacle Entertainment, The Strip | Comments Off on Up in smoke

Wynn: Massachusetts vs. Boston; Crisis and opportunity at Station

Posted on July 13, 2015 by David McKee

Steve Wynn appears to be losing patience with the obstacles being thrown in his way by seemingly vanquished adversaries in his long fight to get a Boston-area casino. He’s filed a defamation suit against the city, after a lawsuit championed … Continue reading →

Posted in Culinary Union, Eldorado Resorts, Election, Georgia, history, International, Massachusetts, MGM Mirage, New York, Politics, Regulation, Sam Nazarian, Slot routes, Station Casinos, Steve Wynn | Comments Off on Wynn: Massachusetts vs. Boston; Crisis and opportunity at Station

GLPI ups ante for Pinnacle

Posted on July 7, 2015 by David McKee

Wall Street has been consistently saying that Gaming & Leisure Properties‘ previous offer for Pinnacle Entertainment wouldn’t get the deal done. Now GLPI has put $47.50/share on the table, to a cool response from Pinnacle management. J.P. Morgan analyst Joseph … Continue reading →

Posted in GLPI, history, International, MGM Mirage, Penn National, Pinnacle Entertainment, Sports, The Mob, The Strip, Wall Street, Wisconsin | 1 Comment

From Russia with baccarat; Massachusetts tribe has no quit in it

Posted on July 6, 2015 by David McKee

North Korean, South Korean and northern Chinese punters will relatively soon have at least two opportunities to take short-hop flights to Vladivostok, where two casinos — relatively modest in budget by American standards — are in progress. The junior of the … Continue reading →

Posted in Architecture, CityCenter, Donald Trump, history, International, Lawrence Ho, Massachusetts, New York, Racinos, Regulation, Slot routes, Technology, The Strip, Tribal | Comments Off on From Russia with baccarat; Massachusetts tribe has no quit in it

More grief for Uncle Carl; Bluhm backs down

Posted on June 18, 2015 by David McKee

Carl Icahn has won his gambit to take over Trump Taj Mahal but that doesn’t mean he and Unite-Here are all lovey-dovey. Although Icahn earlier called Trump Entertainment Resorts the most distressed company he’s ever seen, he’s giving CEO Bob … Continue reading →

Posted in Architecture, Atlantic City, Carl Icahn, Cordish Co., Harrah's, history, Maryland, MGM Mirage, Neil Bluhm, New York, Penn National, Regulation, Taxes, Trump Entertainment Resorts, Unite-Here | 2 Comments

Kirk Kerkorian, 1917-2015

Posted on June 17, 2015 by David McKee

Here in Las Vegas, the impact of Kirk Kerkorian‘s death is still sinking in. A man known for self-effacing personal habits left the world as discreetly as he passed through it in his Ford Taurus, leaving accomplishments that far exceeded … Continue reading →

Posted in Architecture, Atlantic City, Downtown, Harry Reid, history, Internet gambling, MGM Mirage, Mohegan Sun, Movies, Neil Bluhm, New York, Ohio, Penn National, Pennsylvania, Politics, Slot routes, Steve Wynn, Taxes, The Strip, Wall Street | 2 Comments

Quote of the Day

Posted on June 17, 2015 by David McKee

“What good does it do being rich? I can’t do what I want to do. I don’t like to get dressed up and go to see bankers. I hate that kind of thing.” — the late Kirk Kerkorian, to Dial Torgerson … Continue reading →

Posted in history, MGM Mirage | Comments Off on Quote of the Day

Penn powers Ohio; Emanuel’s big bet

Posted on June 8, 2015 by David McKee

May was another good month for the Ohio market, even if Dan Gilbert‘s two casinos continue to slump. Perhaps they are suffering the post-bankruptcy malaise that affects nearly all regional casinos managed by Caesars Entertainment. Hard to say. Horseshoe Cleveland … Continue reading →

Posted in Dan Gilbert, Economy, Hard Rock International, Harrah's, history, Illinois, Neil Bluhm, Ohio, Penn National, Pinnacle Entertainment, Racinos, Taxes, Wall Street | Comments Off on Penn powers Ohio; Emanuel’s big bet

Ghosts of projects past; Alabama rethinks gambling

Posted on May 18, 2015 by David McKee

With so much Las Vegas Strip acreage either in flux (Tropicana Las Vegas, Hooters Casino Hotel) or newly on the market (“Project Jackpot”), CBRE Las Vegas has been moved to unleash 60.5 acres on Harmon Avenue that were the graveyard … Continue reading →

Posted in Alabama, Hard Rock Hotel, history, Hooters, Penn National, Planet Hollywood, Racinos, Taxes, The Strip, Tribal | 1 Comment

New life for the Trop?; Paragon’s latest trophy

Posted on May 14, 2015 by David McKee

David G. Schwartz muses on the brave, new world at the Tropicana Las Vegas — soon with 100% more Penn National Gaming. He assesses it as a win for both parties. Penn gets a foothold at a strategic crossroads on … Continue reading →

Posted in Alex Yemenidjian, Baseball, Colony Capital, Columbia Sussex, Donald Trump, Entertainment, Hard Rock Hotel, history, M Resort, MGM Mirage, Penn National, Riviera, Sahara, Sheldon Adelson, Singapore, Station Casinos, The Strip, Transportation, Westgate LV | Comments Off on New life for the Trop?; Paragon’s latest trophy

Crystals for sale again; Hit-and-run Sheldon

Posted on May 5, 2015 by David McKee

MGM Resorts International isn’t hurting for cash, having just posted a $170 million profit for 1Q15, far outstripping analysts’ projections (and despite an 11% falloff due to Macao). However, its Crystals shopping mall is back on the market, carrying a $1 … Continue reading →

Posted in Economy, history, Macau, MGM Mirage, Riviera, Sheldon Adelson, SLS Las Vegas, Sports, The Strip, Westgate LV | Comments Off on Crystals for sale again; Hit-and-run Sheldon