Category Archives: James Packer

We are Dubai

Posted on December 2, 2009 by David McKee

“If anywhere is emblematic of the debt-fuelled extravagance of the past decade, it is surely [X], which strove to have the tallest, the biggest and the best of everything.” They’ve just got to be talking about Las Vegas, right? No, … Continue reading →

Posted in Alex Yemenidjian, Architecture, Boyd Gaming, Cirque du Soleil, CityCenter, Colony Capital, Columbia Sussex, Cosmopolitan, Current, Dubai, Economy, Entertainment, Harrah's, International, James Packer, MGM Mirage, Morgans Hotel Group, Plaza, Sheldon Adelson, Station Casinos, Steve Wynn, Taxes, The Strip, Tourism, TV, Wall Street | 6 Comments

Case Bets: Strippers, Tomlin & no water in Macao

Posted on November 11, 2009 by David McKee

Being still deeply enmeshed in CityCenter-related materials (Kirvin Doak must be getting paid by the word, judging from the plethora of press releases it’s generated), I have to be a hit-and-run blogger today. Can’t go to the strip club? No … Continue reading →

Posted in Current, Entertainment, Environment, Harrah's, James Packer, Lawrence Ho, Macau, Marketing, Melco Crown Entertainment, MGM Mirage, Sheldon Adelson, The Strip, Tourism, TV | Comments Off

Good times ahead?

Posted on October 12, 2009 by David McKee

New Yorker economic columnist James Surowiecki puts current consumer-spending strends in perspective — and what he finds should gladden the hearts of casino owners. Basically, he finds historical evidence the current tendency toward thriftiness will soon pass. Of course, when … Continue reading →

Posted in Current, Detroit, Economy, Fontainebleau, Illinois, International, James Packer | Comments Off

$300 mil for F'bleau?

Posted on October 6, 2009 by David McKee

That’s the latest; namely, that Penn National Gaming will put down less than $300 million as a “stalking horse” bid on Fontainebleau. Penn would also be on the hook for the costs of the project’s bankruptcy proceedings. Potentially getting a … Continue reading →

Posted in CityCenter, Economy, Fontainebleau, Harry Reid, James Packer, Macau, MGM Mirage, Penn National, Politics, Sheldon Adelson, Steve Wynn, The Strip, Wall Street | Comments Off

Macao's blockbuster month

Posted on October 2, 2009 by David McKee

A flurry of good news to end the week, starting in Macao: September, the first month affected by a relaxation of severe visa restrictions imposed on the mainland, saw a 53% jump in Macanese gambling revenues. In terms of market … Continue reading →

Posted in CityCenter, Current, Economy, Entertainment, James Packer, Lawrence Ho, Macau, Marketing, Melco Crown Entertainment, MGM Mirage, Sheldon Adelson, Stanley Ho, Steve Wynn, The Strip, Tourism | Comments Off

Cro-Magnon economics; Packer play?; Harrah's boycotted

Posted on August 26, 2009 by David McKee

Still snowed under with non-S&G commitments, but here’s a brief dispatch. First, with apologies to Woody Allen … “The federal stimulus package is so bad” “Yes, and such small portions.” That’s the sum and substance of this diatribe, penned by … Continue reading →

Posted in Atlantic City, Boulder Strip, International, James Packer, Pennsylvania | Comments Off

Packer steps in it again

Posted on July 24, 2009 by David McKee

After frequent demurrals, the Victoria government has ‘fessed up that it was on the receiving end of ham-fisted lobbying by Crown Casino owner James Packer. A delicate quid pro quo (higher taxes in return for more table games) was being … Continue reading →

Posted in Australia, Economy, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, Problem gambling, Regulation, Sheldon Adelson | Comments Off

It's Gaughan

Posted on July 16, 2009 by David McKee

Congratulations to South Point owner Michael Gaughan, the 2009 inductee to the American Gaming Association Hall of Fame. An industry "lifer" who worked his way up from the Royal Inn to the CEO's chair at Coast Casinos, Gaughan has been … Continue reading →

Posted in Boyd Gaming, G2E, James Packer, Michael Gaughan, Tourism | Comments Off

Moulin Rouge: Whoops!

Posted on July 7, 2009 by David McKee

The Moulin Rouge development that will never be. Oh dear, oh dear. Seems like the City of Las Vegas unwittingly obstructed its own arson probe into the demise of the Moulin Rouge when it allowed the property to be immediately … Continue reading →

Posted in Animals, Architecture, Australia, Current, Downtown, Fontainebleau, International, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, Pets, Sheldon Adelson, Steve Wynn, The Strip, Wall Street | Comments Off

Stormy weather

Posted on July 1, 2009 by David McKee

It may be monsoon season in Las Vegas but there’s a typhoon blowing through Macao‘s casino economy. A series of bulletins from J.P. Morgan outline a worrisome trajectory for China‘s gambling enclave. City of Dreams: a flop June 23: The … Continue reading →

Posted in Australia, Economy, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, Regulation, Sheldon Adelson, Stanley Ho, Steve Wynn, The Strip, Tourism, Transportation | Comments Off

MGM: Deal or no deal?

Posted on June 17, 2009 by David McKee

MGM Mirage CEO Jim Murren is re-mulling asset sales of MGM Grand Detroit, Gold Strike (Tunica, Miss.) and Beau Rivage. But all Strip assets are definitively off the market (yes, even Slots A Fun). Since the Detroit and Tunica casinos … Continue reading →

Posted in Baseball, Detroit, Downtown, Economy, International, Jack Binion, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Mississippi, Politics, Sheldon Adelson, Steve Wynn, The Strip | Comments Off

Macao” rises again?

Posted on June 17, 2009 by David McKee

Block out the shopworn, mostly useless generalities coming from Las Vegas Sands and groove to Macao's scintillating casinos, recoil from its thick blanket of smog, and take some heart from Credit Suisse's prediction of an upturn in VIP play in … Continue reading →

Posted in Architecture, Economy, Environment, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, Sheldon Adelson, TV, Wall Street | Comments Off

F'bleau: another triumph for Packer

Posted on June 10, 2009 by David McKee

James Packer sure knows how to pick ’em, doesn’t he? He’s just written off $250 million invested in (read: “wasted on”) Fontainebleau. His Crown Ltd. also took the opportunity to kick F’bleau while it’s down, stating it felt “no obligation … Continue reading →

Posted in Cannery Casino Resorts, Current, Fontainebleau, James Packer, The Strip | Comments Off

Case Bets: Packer & Ho, Sands Bethlehem, MGM Mirage, Ameristar, Penn, Harrah's, etc.

Posted on June 3, 2009 by David McKee

• Smashing guitars — but not over each other’s noggins — James Packer and Lawrence Ho christened City of Dreams. The younger Ho downplayed expectations of foot traffic, saying his $2.4 billion megaresort could get by on far fewer visitors … Continue reading →

Posted in Ameristar, Cordish Co., Current, Detroit, Economy, Election, Harrah's, Horseracing, Iowa, James Packer, Lawrence Ho, Macau, Maryland, Melco Crown Entertainment, MGM Mirage, Penn National, Pennsylvania, Regulation, Sheldon Adelson, Wall Street | Comments Off

Rumble in Macao

Posted on June 2, 2009 by David McKee

Although an oft-promised loosening of visa restrictions by Peking stubborny refuses to materialize, an air of cautious hopefulness has crept back into Macao now that City of Dreams has opened on schedule — and it looks dazzling. Aggressive revenue projections … Continue reading →

Posted in Atlantic City, Boyd Gaming, Cannery Casino Resorts, Cosmopolitan, Current, Economy, Genting, George Maloof, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Penn National, Planet Hollywood, Sheldon Adelson, Stanley Ho, Station Casinos, Steve Wynn, Taxes, The Strip | Comments Off

Pansy Ho: time for Plan C

Posted on May 22, 2009 by David McKee

In my usual cart-first, horse-later fashion, I elicited a legal opinion regarding the scenario I postulated the other night: MGM Mirage spinning off either its Atlantic City holdings or MGM Grand Macau into a quasi-autonomous entity, much as Sheldon Adelson … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Regulation, Sheldon Adelson, Stanley Ho, Taxes | Comments Off

A delicate balance

Posted on April 7, 2009 by David McKee

Another day, a little more movement in the CityCenter situation. Well, it's that or talk about tourism and gaming revenue numbers that are too depressing to contemplate for long. Time was that the American banking industry was practically giving away … Continue reading →

Posted in Colony Capital, Current, Detroit, Economy, James Packer, M Resort, MGM Mirage, Penn National, Station Casinos, The Strip, Wall Street | Comments Off

MGM Mirage sells family jewels

Posted on April 6, 2009 by David McKee

Desperation has well and truly hit the fan at MGM Mirage. The company’s Strip casinos may not be priced to move … but it’s said to be quite a different story where MGM Grand Detroit and Beau Rivage are concerned. … Continue reading →

Posted in Atlantic City, Colony Capital, Current, Detroit, Economy, Illinois, James Packer, Macau, MGM Mirage, Phil Ruffin, Sheldon Adelson, Stanley Ho, The Strip, Wall Street | Comments Off

Leper Colony

Posted on April 3, 2009 by David McKee

Or, in lieu of "Atlantic City Death Watch VII," maybe "Colony Death Watch." Scarcely had S&G dubbed Colony Capital's East Coast casino portfolio "Colony Crapital" than came affirmation in the form of the latest set of numbers from the Boardwalk. … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colony Capital, Donald Trump, Economy, Harrah's, James Packer, MGM Mirage, Steve Wynn | Comments Off

Case Bets: Station Casinos, CityCenter, Pittsburgh, James Packer

Posted on April 3, 2009 by David McKee

Credit-default swaps, some of those financial instruments that have played hob with the U.S. economy, are making a cameo appearance in the tortured saga of Station Casinos. If you insured Station's debt, that insurance is worth more than the paper … Continue reading →

Posted in Colony Capital, Don Barden, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Neil Bluhm, Pennsylvania, Station Casinos, Wall Street | Comments Off