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Category Archives: Internet gambling
Deal or no deal?; Two-face Trump; Good news for Adelson
This just in: Poker Stars has announced an agreement to offer Internet gambling in New Jersey via Mohegan Sun-run Resorts Atlantic City. This enables Rational Group to get a U.S. foothold without the inconvenience of buying a physical casino. Colony Capital … Continue reading
Posted in Atlantic City, Colony Capital, Current, Donald Trump, Economy, Internet gambling, Macau, Pennsylvania, Sheldon Adelson, Tourism, Tribal
1 Comment
Station 2, Caesars 0; Death in Vegas
My expectation that Caesars Entertainment, leveraging its World Series of Poker brand, would outstrip Station Casinos‘ online-gaming offerings is looking unduly optimistic. Caesars Interactive hasn’t been able to get out of the driveway while Ultimate Gaming has gone virtually coast-to-coast. … Continue reading
Big Brother Sheldon
Professional sourpuss Sheldon Adelson doesn’t think you should gamble … on the Internet, that is. (“In the history of bad ideas, this has to be one of the worst,” the ad glumly intones.) In Adelson’s intellectually dishonest world it’s perfectly … Continue reading
Posted in Cantor Gaming, Internet gambling, Problem gambling, Sheldon Adelson, TV
1 Comment
Wynn Everett a slam dunk?; Caesars In(ter)active
It’s looking that way. Amounts donated by Wynn Resorts and Wynn affiliates toward this weekend’s referendum: $465,000. Amount spent in opposition: $0. That’s right, nothing. Steve Wynn has also been careful not to stir up potential anti-casino ire by avoiding media … Continue reading
Posted in Current, Election, Harrah's, Internet gambling, Massachusetts, Regulation, Steve Wynn
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Revel gets the memo; Sheldon Adelson knows what’s good for you
Wall Street really hates it when casinos buy business with “promotional allowances” (read: comps) but sometimes — and especially when you’re Revel Hotel-Casino — there’s no choice. In marketing policies as new as its expanded nomenclature, Revel is acknowledging its … Continue reading
Ohio: A disappointment, not a flop
Editor’s note: On June 20, J.P. Morgan lowered its price-per-share target for Penn National Gaming, citing “the sluggish Ohio ramp,” along with cannibalization of business in neighboring states. On May 22, legislators in Ohio voted to limit payouts from “sweepstakes … Continue reading
Posted in Dan Gilbert, Economy, Harrah's, Internet gambling, Massachusetts, MTR Gaming, New Hampshire, Ohio, Penn National, Pennsylvania, Politics, Racinos, Regulation, Rhode Island, Tribal, Wall Street
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Tilman Fertitta, stiff; PokerStars’ desperation; Parrotheads in Shreveport;
I can visit the Fremont Street Experience anytime I want, for free. So can guests at any Downtown hotel … except the Golden Nugget. In a vile new variation on the “resort fee” phenomenon, owner Tilman Fertitta is now tacking … Continue reading
Penn: Start making sense!; Casinos clean up in Lege
Casinos in Ohio have not been living up to revenue expectations. Given such a fallow market, what has Penn National Gaming decided to do? Break ground on two racinos, of course! One is in the Dayton area, the other — … Continue reading
Don’t tell Sheldon!; East Coast misadventures
As EuroVegas appears on the verge of collapse, recent bulletins pile another indignity upon Sheldon Adelson. When Barcelona‘s BCN World wanted to add a casino, it reached 3/4 of the way around the globe to recruit … Melco Crown Entertainment … Continue reading
The rest of the story: Boyd, IGT & Bally
While in Vegas, Deutsche Bank’s Carlo Santarelli dropped in on Boyd Gaming and … well, the news wasn’t as good there as on the Strip. He predicts a “tempered recovery,” adding that “expectations for an inflection in the LV locals … Continue reading
Posted in Boyd Gaming, Current, IGT, Illinois, Internet gambling, Louisiana, Mississippi, Slot routes, The Strip, Tribal, Wall Street
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Pinnacle: The cost of the deal
Pinnacle Entertainment finds itself in an interesting pickle today: It’s awfully far into its Federal Trade Commission-blocked purchase of Ameristar Casinos to blow it up by, say, selling three or more Ameristar properties or otherwise triggering a fallout. And if … Continue reading
Posted in Ameristar, CityCenter, Current, Harrah's, Internet gambling, Louisiana, Macau, Melco Crown Entertainment, MGM Mirage, Missouri, Penn National, Regulation, Sheldon Adelson, Vdara Death Ray, Wall Street, World Series of Poker
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New Maryland casino a hit; Casino lobbying a flop; Next: Sands Markham?
A thousand people waiting to get into a casino on opening day would be nothing at all in Las Vegas. But at Maryland‘s penultimate casino, Rocky Gap Resort, it’s a positive omen, especially since the mini-sino has but 10 tables … Continue reading
Posted in Atlantic City, Current, International, Internet gambling, Lyle Berman, Marketing, Maryland, Politics, Regulation, Sheldon Adelson, Singapore, Sports, Tribal
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The Caesars squeeze
While the emperor (CEO Gary Loveman) may have escaped the Ides of March this year, knots of discontented tribunes are gathering on the Forum steps, muttering darkly. A cabal of hedge funds led by Silver Point Capital is looking at … Continue reading
Posted in Current, Dan Gilbert, Economy, Internet gambling, Isle of Capri, Macau, Massachusetts, Ohio, Regulation, Station Casinos, Wall Street
1 Comment
Christie’s big bet; New Hampshire’s big blunder; Nevada’s big bully
New Jersey Gov. Chris Christie (R) is banking on $180 million in Internet casino revenue to make his budget work. That might be a little off — if by “little” you mean 80%. Online wagering could bring in a comparatively … Continue reading
PokerStars blows it; Wynn woos Philadelphia
Score one for Colony Capital: It took Rational Group to the cleaners to the tune of $11 million and there’s nothing Rational can do about it. A New Jersey court ruled that the PokerStars parent company had no one to … Continue reading
Big vote in Beantown?; Penn National short-sheets Maryland
That’s what it could come to in Boston, if mayoral candidate — and current Suffolk County D.A. — Daniel Conley gets his wish. Rather than simply letting East Boston vote up or down on Caesars Entertainment‘s proposed conversion of Suffolk … Continue reading
PokerStars: Sell … or else!
What do you do if you’ve got a purchase agreement with Colony Capital and the latter allegedly reneges on you? If you’re Rational Group, which thought it had a $15 million deal in place to purchase the Atlantic Club Hotel, … Continue reading
The wrath of PokerStars; Hart’s win; NV Internet poker: Too soon to tell?
That “thud” you just heard was the price of an Atlantic City casino hitting its lowest level ever. In litigation filed against Colony Capital, spurned buyer Rational Group said it was to have paid only $15 million for the Atlantic … Continue reading
Quote of the Day
“It was mostly old guys with cigars. It was very intimidating to walk into a poker room and see a guy who’s a thousand years old, smoking 10 packs of cigarettes a day, giving you dirty looks because you’re taking … Continue reading
Posted in Current, Internet gambling
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Revel: Christie catches a break; Illinois remains suicidal; Online poker debuts in Nevada
New Jersey Gov. Chris Christie (R) is one lucky fellow. Bankrupt Revel threatened to become an albatross around his neck, thanks to a $261 million tax break that Christie helped push through Trenton. Last week, it turned out that Revel … Continue reading