Category Archives: Illinois

Illinois: Adding insult to injury; Sheldon’s nuisance

Posted on August 29, 2014 by David McKee

Casino-based slot machines in Illinois are now outnumbered by ones in convenience stores, bars and truck stops. To make the challenge even worse, the Legislature — which goes out of its way to kneecap the Land of Lincoln’s existing casinos … Continue reading →

Posted in Illinois, Internet gambling, Macau, Sheldon Adelson, Slot routes, West Virginia | Comments Off

Reality in Illinois, Indiana; Optimism in New York

Posted on August 11, 2014 by David McKee

Illinois has had far worse months than July, which was down only 5%. Admissions were off 9%, implying a 4% higher spend/visitor. Rivers Casino was flat but still managed to gross double what Harrah’s Joliet managed. The latter, however, was … Continue reading →

Posted in Boyd Gaming, Delaware, Economy, Genting, Harrah's, Illinois, Indiana, Massachusetts, MGM Mirage, Neil Bluhm, New York, Penn National, Pinnacle Entertainment, Racinos, Tropicana Entertainment | Comments Off

MGM beats the Street; The wrath of Loveman

Posted on August 5, 2014 by David McKee

Not only did MGM Resorts International swing from a loss to a profit in 2Q14, its revenues exceeded Wall Street’s expectations. Analyst consensus foresaw $0.10/share in earnings and MGM delivered more than twice that. Revenues at every MGM property were … Continue reading →

Posted in Architecture, CityCenter, Current, Detroit, Harrah's, Illinois, Macau, Maryland, Mississippi, Neil Bluhm, The Strip, Wall Street | 1 Comment

Regulators to Walsh: Not so fast, friend

Posted on July 25, 2014 by David McKee

Boston Mayor Martin Walsh isn’t getting off the hook so easily. He tried to fob the negotiation of a mitigation agreement with Wynn Resorts off on the Massachusetts Gaming Commission. The latter said ‘not so fast’ and ordered the city … Continue reading →

Posted in Economy, Genting, Harrah's, Illinois, International, Massachusetts, Mississippi, Mohegan Sun, Regulation, Steve Wynn, Wall Street | Comments Off

Penny pinchers; Tribal warfare in New Mexico; Who’s tops in Macao?

Posted on July 24, 2014 by David McKee

Although the hold on penny slots in Illinois casinos is grotesquely higher than that for quarter slots/video poker, the imaginary value of penny machines makes them by far the most popular genre in the state. Punters dropped $41 million into … Continue reading →

Posted in Election, Illinois, Macau, Melco Crown Entertainment, MGM Mirage, Neil Bluhm, Penn National, Sheldon Adelson, Stanley Ho, Steve Wynn, Technology, Tribal | 1 Comment

Thinking the unthinkable

Posted on July 21, 2014 by David McKee

Could Nevada casino floors go genuinely smoke-free? That’s the idea floated by Deutsche Bank analyst Andrew Zarnett. Although Nevada voters have exempted casino floors from smoking bans, Zarnett thinks that state of affairs could change by 2016 or so, at … Continue reading →

Posted in Delaware, Economy, Environment, Florida, Illinois, Macau, Mississippi, Sheldon Adelson, The Strip, Transportation | 2 Comments

What’s in a name?

Posted on July 1, 2014 by David McKee

Quite a lot apparently, if you’re Wynn Boston and you’re going up against local favorite Mohegan Sun. A poll taken by the Center for Policy Analysis at the University of Massachusetts Dartmouth found voters split between 48% in favor of Mohegan … Continue reading →

Posted in Atlantic City, Colorado, Delaware, Detroit, Economy, Election, Foxwoods, Illinois, Indiana, Kansas, Louisiana, Massachusetts, Missouri, Mohegan Sun, New York, Pennsylvania, Steve Wynn, The Strip | Comments Off

Boffo May in Vegas; The power of convenience

Posted on June 27, 2014 by David McKee

Wall Street was pleasantly surprised by May’s gambling numbers from Nevada and especially the Las Vegas Strip, which was up 17%. Statewide, revenues rose 8%, reflecting the dilutive effect of an 8% decline in locals gaming revenue. A 3% dip … Continue reading →

Posted in Boulder Strip, Downtown, Economy, Election, Hard Rock International, Harrah's, Illinois, Laughlin, Massachusetts, MGM Mirage, Mohegan Sun, North Las Vegas, Ohio, Penn National, Problem gambling, Racinos, Regulation, Slot routes, The Strip, Wall Street | 3 Comments

Wynn wins again; LVH sale near

Posted on June 24, 2014 by David McKee

Steve Wynn‘s $19 million libel award against sleazebag Joe Francis, former purveyor of Girls Gone Wild, has been upheld. The appeals court also imposed a gag order on Francis, enjoining him from ever repeating his claims that Wynn threatened to … Continue reading →

Posted in Entertainment, Goldman Sachs, Harrah's, Illinois, LVCVA, Steve Wynn, The Strip, Wall Street | Comments Off

Atlantic City courts the LGBT dollar; Indiana casinos court anybody’s dollar

Posted on June 17, 2014 by David McKee

Formerly a gay getaway, Atlantic City lost its LGBT-friendly image when the casinos came in 1978, or so the history goes. “When the casinos came, people were quick to bulldoze whatever they had to sell for millions, and we lost … Continue reading →

Posted in Atlantic City, Boyd Gaming, Harrah's, Illinois, Kansas, Marketing, Ohio, Penn National, Pinnacle Entertainment, Racinos, Sam Nazarian, Slot routes, Taxes, The Strip, Tribal | Comments Off

Massachusetts casinos in peril

Posted on June 9, 2014 by David McKee

That’s the conclusion of a Suffolk University/Boston Herald poll. It shows support for casinos having fallen to 37%, while opposition has risen to 47% of those surveyed. That’s a dramatic reversal from a February poll by the Herald which showed … Continue reading →

Posted in Detroit, Election, Horseracing, Illinois, Indiana, Massachusetts, MGM Mirage, Mohegan Sun, Penn National, Steve Wynn | Comments Off

May challenging for Iowa, disastrous for Illinois

Posted on June 6, 2014 by David McKee

At present, the Iowa Racing & Gaming Commission is mulling whether to put a casino in relatively isolated (see video) Jefferson. While they’re weighing that Wild Rose Entertainment project, here’s something else to ponder: The latest set of revenue numbers … Continue reading →

Posted in Ameristar, Boyd Gaming, Current, Economy, Harrah's, Illinois, Iowa, Isle of Capri, MGM Mirage, Neil Bluhm, Penn National, Pinnacle Entertainment, Regulation, Slot routes | Comments Off

Casinos battle an ebb tide; Loveman rebuffed

Posted on June 2, 2014 by David McKee

Today marks the date that the casino industry officially became too large for the country to support, symbolized by the closing of Harrah’s Tunica. “There’s gambling everywhere. If you just want to gamble, you don’t have to go very far to do … Continue reading →

Posted in Economy, Harrah's, Illinois, Massachusetts, Mississippi, Politics, Regulation | Comments Off

Beso of death; Atlantic Club reborn

Posted on May 30, 2014 by David McKee

Eva Longoria‘s SHE byMorton’s (formerly Beso) has closed for the second — and presumably final — time. This time we can only put so much blame on Longoria and focus instead on owner Tilman Fertitta. This rare misstep by Fertitta … Continue reading →

Posted in Atlantic City, CityCenter, Dining, Harrah's, Illinois, Politics, The Strip | Comments Off

And then there were fewer; The Culinary’s empty threats

Posted on May 20, 2014 by David McKee

Scratch two names from the mad scramble for a New York State casino. The vaguely interested Rolling Hills Entertainment is out but it was a long shot. Of greater consequence is Pinnacle Entertainment‘s abandonment of its pursuit of the Albany … Continue reading →

Posted in Boyd Gaming, Churchill Downs, Culinary Union, Derek Stevens, Downtown, Harrah's, Illinois, Maryland, New York, Pinnacle Entertainment, Racinos, Tamares Group, Taxes, Terry Caudill | Comments Off

Tight squeeze in New Jersey

Posted on April 30, 2014 by David McKee

Boyd Gaming posted its 1Q14 results today and Borgata racked up a $3 million operating loss due to the rollout of Internet gambling. That number might be smaller if credit card companies weren’t throttling payment-processing on the games. The average … Continue reading →

Posted in Atlantic City, Boyd Gaming, Illinois, Internet gambling, Regulation | Comments Off

Pinnacle, GLPI impress The Street; Parx beats Pennsylvania

Posted on April 30, 2014 by David McKee

Despite soft performance in its regional markets, Pinnacle Entertainment impressed an analyst or two by exceeding revenue expectations for the past quarter. Pinnacle’s cash flow was $3 million above Wall Street estimates, a feat attributed to fiscal discipline and improved … Continue reading →

Posted in Ameristar, Greenwood Racing, Illinois, Louisiana, Marketing, Missouri, Penn National, Pennsylvania, Pinnacle Entertainment, Taxes, Wall Street | Comments Off

Penn manages expectations

Posted on April 24, 2014 by David McKee

Penn National Gaming lowered estimates for cash flow and other metrics today, as well as releasing 1Q14 results that J.P. Morgan analyst Joseph Greff wrote were “generally in line with our … estimates.” According to Penn, player spending has been … Continue reading →

Posted in Atlantic City, Cordish Co., Cosmopolitan, Harrah's, Illinois, Indiana, Iowa, Massachusetts, Mississippi, New York, Penn National, Slot routes, Wall Street, West Virginia | Comments Off

Quote of the Day

Posted on April 21, 2014 by David McKee

“Iowa and Illinois are two sides of the same coin; both states have had gaming for over 20 years. The casino industry in each is mature and probably saturated; the gaming industry in each state has suffered any time new … Continue reading →

Posted in Economy, Illinois, Iowa, Regulation | 1 Comment

Penn, Cordish kiss and make up

Posted on April 17, 2014 by David McKee

Remember when Cordish Gaming and Penn National Gaming were bitter rivals in Maryland (left) and more-cordial ones in Massachusetts? Well, that’s all so yesterday as the two are teaming up to get in on the New York State market. They’ve identified … Continue reading →

Posted in Cordish Co., Illinois, Maryland, New York, Penn National, Technology | Comments Off