Category Archives: Indiana

Trop sale stumbles forward … sorta

Posted on August 18, 2008 by David McKee

If Justice Gary Stein, the state-appointed trustee for the Atlantic City Tropicana Casino & Resort, isn’t the most inept public servant in America, it’s not for lack of effort. Add nepotism to his string of failings, as his ever-less-credible pronouncements … Continue reading →

Posted in Atlantic City, Columbia Sussex, Harrah's, Indiana, MGM Mirage, Penn National, Pinnacle Entertainment, The Strip | Comments Off

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

Case Bets: MGM Mirage, Ameristar, Penn National

Posted on August 5, 2008 by David McKee

It almost goes without saying right now that any earnings report is going to come in slightly below Wall Street’s consensus. That’s just the way the dice are bouncing these days. Such is the case with MGM Mirage, where Strip … Continue reading →

Posted in Ameristar, Colorado, Detroit, Harrah's, Illinois, Indiana, MGM Mirage, Penn National, The Strip, 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

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

"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

Columbia Sussex quickies

Posted on May 7, 2008 by David McKee

Tropicana Entertainment Co-President Scott Butera has really been working the phones — a salutary, welcome change from the truculence and stonewalling reporters came to expect from Columbia Sussex. (Apparently Las Vegas Tropicana execs were among those left in the dark about … Continue reading →

Posted in Atlantic City, Columbia Sussex, Indiana, Laughlin, The Strip | Comments Off

Tahoe: Scratch one casino

Posted on May 6, 2008 by David McKee

Part of the ongoing fallout from the Tropicana Entertainment bankruptcy is an even more dire forecast for the Lake Tahoe market. How bad is it? Well, even though Columbia Sussex has an option to renew its lease on the Horizon, … Continue reading →

Posted in Atlantic City, Columbia Sussex, Indiana, Lake Tahoe, The Strip | Comments Off

Still more updates!

Posted on May 6, 2008 by David McKee

Another day, another default. Tucked snugly at the bottom of Tropicana Entertainment‘s notice of default is another news nugget. Seems that the City of Evansville has informed the Columbia Sussex subsidiary that it’s defaulted on certain terms of its lease … Continue reading →

Posted in Atlantic City, Columbia Sussex, Indiana, Louisiana, The Strip | Comments Off

MGM Mirage: What's it all about?

Posted on April 16, 2008 by David McKee

By now it’s old news that MGM Mirage took a paring knife to its personnel roster and gave 440 staffers the sack on Monday. Admittedly, saving $75 million seems like trimming a fingernail off a company whose 2007 profit was … Continue reading →

Posted in Atlantic City, Columbia Sussex, Indiana, MGM Mirage, Mississippi, Steve Wynn, The Strip | Comments Off

High spirits in Evansville

Posted on April 7, 2008 by David McKee

The acquisition, by Reno's own Eldorado Resorts, of the Casino Aztar riverboat, is playing to the expected hosannas. Interestingly, while 21% of the workforce was pink-slipped by outgoing owner Columbia Sussex, that seems to be the least of players' concerns. … Continue reading →

Posted in Atlantic City, Columbia Sussex, Indiana, Steve Wynn, Taxes, The Strip | Comments Off

Columbia Sussex sinks to new low

Posted on April 2, 2008 by David McKee

Let’s say you’re Columbia Sussex, owner of the Westin Casuarina and notorious for your pinch-penny ways. What do you do if a convention organizer can’t pay up on its $50,000 tab? Why simply — and sneakily — bill it to the … Continue reading →

Posted in Atlantic City, Columbia Sussex, Indiana, Louisiana, LVCVA, Regulation | Comments Off

Columbia Sussex loses one, wins another

Posted on March 31, 2008 by David McKee

Where to start? Well, Gov. Steve Beshear is about to throw in the towel on his casinos-for-Kentucky push, having decided he couldn’t get it past the House. And remember: That was supposed to be the easy part; the state Senate’s … Continue reading →

Posted in Atlantic City, Columbia Sussex, Indiana, Regulation | Comments Off

Plaza still a "go", Tropicana gets new boss, Gibbons still irrelevant

Posted on March 20, 2008 by David McKee

It's Day Five of the "Hell No, We Won't Go" crisis and Nevada State Board of Medical Examiners members Drs. Daniel McBride and Javaid Anwar continue to thumb their noses at Gov. Jim Gibbons. As does board Executive Director Tony … Continue reading →

Posted in Atlantic City, Columbia Sussex, Donald Trump, Harrah's, Indiana, Marketing, Movies, Politics, Problem gambling, The Strip | Comments Off

Columbia Sussex strikes back

Posted on March 5, 2008 by David McKee

This could become a Hammer Studios-esque series of updates. Just contemplate the possible titles: The Curse of Columbia Sussex, Columbia Sussex Has Risen from the Grave, Taste the Blood of Columbia Sussex, Columbia Sussex and the Monster from Hell, Columbia Sussex … Continue reading →

Posted in Atlantic City, Columbia Sussex, Indiana | Comments Off

Columbia Sussex dodges bullet

Posted on March 3, 2008 by David McKee

Yes, Columbia Sussex is in default on $960 million in debt, says a Delaware court. But it's not in immediate default, giving the hotelier at least another month to wriggle out of that tight spot. However, a source for the Las … Continue reading →

Posted in Columbia Sussex, Indiana, Kentucky, The Strip | Comments Off

MGM Grand to make a big splash

Posted on February 28, 2008 by David McKee

Our "ace in the hole" source has caught wind of a major expansion of the pool area and water features at MGM Grand, extending toward the Signature condos. The official verbiage is as follows: The plans depict a recreational area … Continue reading →

Posted in Columbia Sussex, Downtown, Indiana, MGM Mirage, The Strip | Comments Off

Columbia Sussex roundup

Posted on February 18, 2008 by David McKee

It’s difficult to figure out CEO William Yung III‘s endgame in his high-profile pursuit of a casino in Kentucky, as it could potentially further complicate the attempted sale of Casino Aztar in Evansville, Ind. So far, suitors have proven to … Continue reading →

Posted in Columbia Sussex, Indiana, Movies, The Strip | Comments Off

That other Trop letter

Posted on February 14, 2008 by David McKee

S&G has obtained a copy of the 15-page complaint letter from the National Environmental Health Association to management of the Atlantic City Tropicana, alleging substandard conditions and service at the hotel-casino. Excerpts from this letter pretty much convicted the Tropicana … Continue reading →