Category Archives: Indiana

Fire sale at Full House; Japan: Patience advised

Posted on October 22, 2014 by David McKee

In the casino world it’s pretty much unheard-of for a company to hang a “for sale” sign on itself without a suitor in view. Patti Hart did it successfully at International Game Technology, earlier this year. Now Full House Resorts … Continue reading →

Posted in Alabama, Dan Lee, G2E, Genting, Harrah's, IGT, Indiana, Japan, Neil Bluhm, Regulation, Sheldon Adelson, Steve Wynn, Tribal | Comments Off

Making sense of Pence; Dan Lee returns (again)

Posted on October 14, 2014 by David McKee

Taking a page from Wisconsin Gov. Scott Walker‘s playbook, Indiana Gov. Mike Pence (R) is trying to have it both ways: oppose “expansion” of gambling but refuse to define aforesaid expansion. With riverboat casinos pressing to come ashore, Pence has … Continue reading →

Posted in Dan Lee, Indiana, Internet gambling, MGM Mirage, New York, Ohio, Palms, Pinnacle Entertainment, Politics | Comments Off

Ivey loses & sundry Case Bets

Posted on October 9, 2014 by David McKee

Phil Ivey won’t be edge-sorting cards anytime soon. A British judge has ruled that, whether he knew it or not, Ivey was cheating when he won $12 million at Crockfords, a Genting Group casino in London. “He gave himself an advantage … Continue reading →

Posted in Atlantic City, California, Columbia Sussex, Election, Genting, Indiana, International, Japan, Lake Tahoe, Ohio, Penn National, Pinnacle Entertainment, Regulation, Station Casinos, Taxes, Tourism, Tribal, Wall Street, Warner Gaming | Comments Off

Okada going slowly; Mixed news in Indiana

Posted on October 8, 2014 by David McKee

Kazuo Okada is butting heads with the Philippine government again. The latter says Okada has to have Marina Bay Resorts open by March of next year or forfeit a $2 million guarantee. Okada, whose project has been dogged by regulatory … Continue reading →

Posted in Boyd Gaming, Harrah's, Indiana, International, Kazuo Okada, Ohio, Penn National, Pinnacle Entertainment, Racinos, Regulation, Tropicana Entertainment | Comments Off

Horseshoe Baltimore launches; Hypocrisy in Indiana

Posted on August 26, 2014 by David McKee

On a “gritty stretch of Russell Street” in Baltimore, partners Caesars Entertainment and Rock Gaming are preparing to bust out their latest inner-city casino. Not only will it provide commendable urban renewal, it will also give Maryland Live! its most … Continue reading →

Posted in Affinity Gaming, Baseball, Cordish Co., Dan Gilbert, Harrah's, Indiana, Maryland, MGM Mirage, Politics, Wall Street | 1 Comment

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

Pinnacle pestered; Penn profits; Pokies pilloried

Posted on July 25, 2014 by David McKee

Orange Capital, calling itself “unsatisfied,” has renewed its pestering of Pinnacle Entertainment to convert itself into a REIT. Orange claims that share value could be increased 60% to 90%. Unfortunately for Pinnacle customers, REITs are required to return 90% of … Continue reading →

Posted in Ameristar, Atlantic City, Australia, Indiana, Louisiana, Missouri, Ohio, Penn National, Pinnacle Entertainment, Problem gambling, Racinos, Tropicana Entertainment, Wall Street | Comments Off

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

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

Adelson winning one-sided war

Posted on June 5, 2014 by David McKee

If it appears that Sheldon Adelson is rolling to victory in his jihad against Internet gambling, it’s primarily because his opposition has gone belly-up. First, MGM Resorts International CEO Jim Murren called the battle “a fight we cannot win,” then … Continue reading →

Posted in California, Florida, Geoff Freeman, Harrah's, Indiana, International, Internet gambling, MGM Mirage, Politics, Sheldon Adelson, South Carolina, Texas, Tribal | Comments Off

Wynn’s albatross; Culinary gets wrist slapped

Posted on May 13, 2014 by David McKee

Steve Wynn‘s Everett casino project is getting pinned down by fire from several directions. Boston City Attorney Thomas Frongillo argues that a sale to Wynn Resorts by FBT Everett Realty LLC should be voided because the latter concealed an ownership stake … Continue reading →

Posted in Culinary Union, Environment, Harrah's, Indiana, Massachusetts, Mohegan Sun, Regulation, Steve Wynn | 2 Comments

Loveman utters heresy; Adelson’s sock-puppet theatre

Posted on May 9, 2014 by David McKee

Buried deep in Caesars Entertainments ‘s 1Q14 earnings call was this bombshell from CEO Gary Loveman: “We are looking at all of our options to reduce the cost of doing business here. All the businesses in [Atlantic City] are under tremendous pressure.” That’s … Continue reading →

Posted in Atlantic City, Cretins, Economy, Florida, Harrah's, Indiana, Louisiana, New Hampshire, Politics, South Carolina, Texas, 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

Rebottling a genie

Posted on March 19, 2014 by David McKee

One would hate to think how many businesses in Clark County get by on the revenue from slot routes, rather than from their primary purpose. But county commissioners didn’t think to define “incidental” — an understandable oversight — when making … Continue reading →

Posted in Atlantic City, California, Carl Icahn, Horseracing, Indiana, Internet gambling, Slot routes, Tropicana Entertainment | 1 Comment

The industry speaks, Part Two

Posted on March 13, 2014 by David McKee

Both Penn National Gaming and Pinnacle Entertainment have weighed in at the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum. Penn engaged in a three-bucket division of its casinos. “The first bucket comprises properties in markets where there has … Continue reading →

Posted in Ameristar, Indiana, Louisiana, Marketing, Massachusetts, MGM Mirage, Missouri, Ohio, Penn National, Pinnacle Entertainment, Racinos, Tilman Fertitta, Wall Street, West Virginia | Comments Off

Missouri, Indiana take their lumps

Posted on March 11, 2014 by David McKee

Bad weather is being blamed for dismal attendance figures at St. Louis-area casinos. Those on the Missouri side were down 11%, while Casino Queen in East St. Louis and Alton Belle were off 17% at the turnstile. Statewide, revenue was down 7%, with … Continue reading →

Posted in Harrah's, Indiana, Isle of Capri, Missouri, Ohio, Penn National, Pinnacle Entertainment, Taxes, Tropicana Entertainment | Comments Off

The Midwest: First the good news …

Posted on February 10, 2014 by David McKee

Casino revenue in the Buckeye State vaulted 56%, as several new racinos came on line. The not such good news is that Ohio casinos are merrily cannibalizing themselves, down 16% on a year/year basis. Hollywood Columbus, in particular, continues to … Continue reading →

Posted in Boyd Gaming, Current, Hard Rock International, Harrah's, Illinois, Indiana, Iowa, Isle of Capri, MGM Mirage, Missouri, Neil Bluhm, Ohio, Penn National, Pinnacle Entertainment, Politics, Racinos, Wall Street | 1 Comment

Double whammy in Beantown, feeding frenzy in Philly

Posted on January 31, 2014 by David McKee

Should casino opponents succeed in getting a repeal of the state’s gambling law onto the November ballot — and win — Massachusetts will lose out on tax revenue it’s booked for the next fiscal year. It may also have to … Continue reading →

Posted in Economy, Election, Indiana, Massachusetts, Neil Bluhm, Pennsylvania, Politics, Racinos, Regulation, Taxes | Comments Off

A ‘bit’ of progress

Posted on January 21, 2014 by David McKee

You can’t use bitcoin to gamble in Vegas … yet. But Derek Stevens is bitcoin-enabling both the Golden Gate and The D to accept the cyber-currency in selected parts of his properties, starting Jan. 22. Stevens is crediting customer input … Continue reading →

Posted in Derek Stevens, Downtown, Economy, Indiana, Macau, New York, Ohio, Racinos, Technology, Tourism | Comments Off

Frigid winter for Midwest casinos

Posted on January 10, 2014 by David McKee

Blame it on brutal weather or whatever your like but Midwest casino revenues have been dismal in December and it’s my doleful duty to report them. Missouri dipped 11%. Positive performers, like Pinnacle Entertainment‘s River City (+6%) were few. Of … Continue reading →

Posted in Ameristar, Boyd Gaming, Current, Economy, Harrah's, Indiana, Iowa, Isle of Capri, Missouri, Penn National, Pinnacle Entertainment, Racinos, Tropicana Entertainment, Wall Street | 2 Comments