Category Archives: International

Ader strikes at IGT; Government bailout for Trump rejected

Posted on January 28, 2013 by David McKee

Rumbles of mutiny against International Game Technology CEO Patti Hart have been growing in volume for quite some time. Those growls rose to a shout today with an e-mail blast from The Ader Group, soliciting shareholder proxies for the March … Continue reading →

Posted in Current, Donald Trump, Economy, Harrah's, IGT, Illinois, International, Slot routes, Taxes, Technology, Wall Street | Comments Off

Five weeks for Sahara Sam

Posted on January 25, 2013 by David McKee

That’s how much time Sam Nazarian has to scare up $115 million from overseas sources. If the deal isn’t done by Feb. 28, $300 million that’s currently in escrow quietly goes away. In exchange for offshore capital, Nazarian has to … Continue reading →

Posted in Cosmopolitan, Current, Entertainment, George Maloof, Goldman Sachs, International, Regulation, Sahara, Sports, The Strip, Tourism, Wall Street | 4 Comments

Maryland: Who’s got the last laugh now?; Murren goes North, other companies look South

Posted on January 23, 2013 by David McKee

MGM Resorts International, that’s who. As predicted, a lawsuit filed to overturn last November’s casino expansion was laughed out of court. Judge Ronald A. Silkworth called the litigation “baseless,” which is a nice way of saying, “Thanks for wasting my … Continue reading →

Posted in Cirque du Soleil, Current, Economy, Entertainment, Florida, International, Iowa, MGM Mirage, Nebraska, Penn National, Pinnacle Entertainment, Politics, Racinos, Sheldon Adelson, Taxes, Texas, Tribal | Comments Off

Et tu, Dan?

Posted on January 17, 2013 by David McKee

Seems there’s no honor among business partners: While lugging Caesars Entertainment on his back from Cleveland to Cincinnati and thence to Baltimore, mogul Dan Gilbert had a side deal of his own going. He’s buying a majority stake in Greektown … Continue reading →

Posted in Current, Dan Gilbert, Detroit, Harrah's, International, Marketing, Ohio | 3 Comments

Would you trust Gary Loveman with your Social Security?

Posted on January 17, 2013 by David McKee

In addition to presiding over the most grotesquely indebted company — by far — in the casino industry, Caesars Entertainment CEO/President/Chairman/Pontifex Maximus/Generalissimo Gary Loveman also wants to dictate the manner in which we eke out our “golden years.” Amazingly, somebody … Continue reading →

Posted in Current, Dan Gilbert, Economy, Election, Harrah's, history, International, Louisiana, Macau, MGM Mirage, Mississippi, Problem gambling, TV, Wall Street | 14 Comments

Quote of the Day

Posted on January 16, 2013 by David McKee

“This issue doesn’t affect us because really we don’t know anything about these investigations.” — Madrid Mayor Aña Botella, winning the Ostrich Award last summer by sticking her head in the, uh, sand with regard to scandal-plagued Las Vegas Sands … Continue reading →

Posted in International, Regulation, Sheldon Adelson | Comments Off

Revel: Slow learning curve ahead; Sheldon spanked in Singapore

Posted on January 8, 2013 by David McKee

By the time Revel CEO Kevin DeSanctis realizes he’s made a mistake, he’s almost always past the point of no return. Although it is my deeply rooted opinion that smoking is a noxious, disgusting habit that invades other people’s space, … Continue reading →

Posted in Atlantic City, Cordish Co., Current, Economy, Environment, Genting, International, Maine, Marketing, Maryland, Penn National, Problem gambling, Racinos, Regulation, Revel, Sheldon Adelson, Singapore, Wall Street | Comments Off

Drugs? Hookers? In our fair city?; It’s Vegaski, Comrade!

Posted on December 14, 2012 by David McKee

If your casino or club employs CLS Transportation, today would be a good day to call in sick and take the phone off the hook. Seems the limo fleet of CLS was taking Las Vegas visitors for a ride, running … Continue reading →

Posted in Current, Harrah's, International, Regulation, Sheldon Adelson, The Mob, The Strip, Tourism | 1 Comment

Capitol Hill and Internet poker: Too little, too late (as usual)

Posted on November 28, 2012 by David McKee

Despite support from an unlikely coalition that includes the American Gaming Association, the National Fraternal Order of Police and the National Association of Convenience Stores, federal legalization of Internet poker seems no closer in the 2012 lame duck session of … Continue reading →

Posted in Boyd Gaming, Current, Harry Reid, International, Internet gambling, MGM Mirage, Politics, Regulation | 3 Comments

A tale of two Penns

Posted on November 16, 2012 by David McKee

Update: Seeking Alpha’s Brad Thomas has run the numbers on the Penn split and doesn’t like the risk/reward scenario. Fifteen years and many consolidations ago, the casino industry was seized by a brain fever. It was set off by the … Continue reading →

Posted in Ameristar, Colorado, Cordish Co., Harrah's, history, Indiana, International, Kansas, Louisiana, Maine, Maryland, MGM Mirage, Ohio, Pennsylvania, Racinos, Regulation, Riviera, Sheldon Adelson, Station Casinos, Steve Wynn, Taxes, Texas, The Strip, Tribal, Wall Street | 2 Comments

Smooth transition at Bally; Trumpalypse in Toronto

Posted on November 14, 2012 by David McKee

Late-breaking stories usually bode ill but it’s nothing of the sort at Bally Technologies, where a transfer of power was announced during the waning hours of the day. CEO Richard Haddrill (left) steps aside and up, moving to chairmanship of … Continue reading →

Posted in Bally Technologies, Current, Donald Trump, International, Wall Street | Comments Off

Missouri: Penn vs. Penn; Pinnacle debacle deepens

Posted on November 13, 2012 by David McKee

This just in: It’s another winning strategy from those gaming-industry masterminds at Colony Capital. God forbid you’re playing at the Atlantic Club and work up an appetite. Or did Tom Barrack hear about “Stiff of the Year” and wants to … Continue reading →

Posted in Ameristar, Atlantic City, Colony Capital, Colorado, Dining, Economy, Election, Genting, Harrah's, Illinois, International, Isle of Capri, Kansas, Marketing, Maryland, Missouri, Movies, Penn National, Pinnacle Entertainment, Regulation, Sheldon Adelson, Singapore, The Strip, Tourism, Wall Street | 2 Comments

Pinnacle’s Vietnamese quagmire; Caesars’ South American pullback

Posted on November 12, 2012 by David McKee

Last Friday, Pinnacle Entertainment tiptoed out with a little bombshell that may have detonated into your e-mail or stock portfolio. In brief: Vietnam‘s planned Ho Tram Strip casino resort is in deep shit. As a 26% owner of the project, … Continue reading →

Posted in Architecture, Current, Dan Gilbert, Harrah's, International, Marketing, Maryland, MGM Mirage, Ohio, Pinnacle Entertainment, Wall Street | 1 Comment

Election wrap-up: Winners & losers

Posted on November 7, 2012 by David McKee

But first, because it will never, ever get old … Also this, from @daveweigel: “[Florida] exit poll: Obama winning Jewish vote by 40 points. 40 points. Nice work, Sheldon Adelson.” We’ll tap dance on Sheldon’s head some more further down, … Continue reading →

Posted in Atlantic City, Colony Capital, Colorado, Cordish Co., Cretins, Current, Donald Trump, Economy, Election, Florida, Goldman Sachs, Harrah's, International, Internet gambling, Maine, Marketing, Maryland, Massachusetts, Minnesota, Pennsylvania, Politics, Racinos, Sheldon Adelson, Shuffle Master, Steve Wynn, Tribal, TV, Wall Street, West Virginia | 4 Comments

Betting on our future; Wretched excess in Maryland; Penn perseveres

Posted on November 6, 2012 by David McKee

While the voters have not yet spoken (although they’re getting an early start here), the betting markets are feeling less restraint. While the amount wagered online on the results of today’s presidential election — $16 million, according to one source … Continue reading →

Posted in Architecture, Cordish Co., Current, Election, Harrah's, Illinois, International, Internet gambling, Iowa, Marketing, Maryland, MGM Mirage, Missouri, Penn National, Politics, Tribal | Comments Off

No-win situation; October surprise

Posted on November 1, 2012 by David McKee

You might say Mitt Romney was for gambling before he was against it. Both as a 1994 Senate candidate and later as governor, he advocated slot parlors and later VLTs in Massachusetts. (He also proposed to extort $75 million apiece … Continue reading →

Posted in Atlantic City, Cantor Gaming, Current, Election, Harrah's, International, Massachusetts, Regulation, Taxes, Tourism, Tribal, Wall Street | 1 Comment

The economy explained, in 394 seconds

Posted on October 30, 2012 by David McKee

Find me one casino company that doesn’t carry long-term debt …. like the -$2.8 billion sitting on the balance sheet of Wynn Resorts, right, Steve?

Posted in Economy, International, Steve Wynn | 1 Comment

Shadow-puppetry at the Sahara; TropiHilton of LV; Melco goes southerly

Posted on October 26, 2012 by David McKee

“Lightweight” might be a apt term to describe the braintrust forming around the SLS/Sahara project. So would “miscast.” Reporting to casino novice and owner Sam Nazarian, its president will be J.P. Morgan investment banker Sam Bakhshandehpour. His main qualification for … Continue reading →

Posted in Alex Yemenidjian, Colony Capital, Cosmopolitan, Current, Goldman Sachs, Harrah's, International, James Packer, Lawrence Ho, Marketing, Melco Crown Entertainment, MGM Mirage, Planet Hollywood, Sahara, Steve Wynn, The Strip, Tourism, Wall Street | Comments Off

More slump at Trump; Home woes ease

Posted on October 25, 2012 by David McKee

Trump International is hawking bargain rates for the Yuletide season, including price-matching, Saks Fifth Avenue discounts, “guaranteed late check out” (translation: Please stay with us!) and more. The sheer plethora of discounts and giveaways hints at an increasing level of … Continue reading →

Posted in Current, Donald Trump, Economy, Illinois, International, Marketing, Midnight Jim Gibbons, Phil Ruffin, The Strip, Tourism | 4 Comments

Zynga counterattacks; Fail, Caesar; Adelson honored

Posted on October 25, 2012 by David McKee

If the Stalin organs of the Zynga PR battery had fallen silent, it was only to reload. As predicted yesterday, Zynga is regrouping around Internet gambling as its new strategy of choice. Zynga unleashed “announced an exclusive partnership [with Bwin.party] … Continue reading →

Posted in Architecture, Atlantic City, Boyd Gaming, Dan Lee, Donald Trump, Harrah's, International, Internet gambling, Maryland, MGM Mirage, Missouri, New York, Ohio, Pinnacle Entertainment, Politics, Revel, Sheldon Adelson, Steve Wynn, The Strip, Transportation, Tribal | 1 Comment