Category Archives: James Packer

Christie’s bum rap; New partner for Packer?; Casino chicanery in Maine

Posted on January 26, 2016 by David McKee

“The people involved in this, if you took a thimble and put their knowledge of Atlantic City in it, it wouldn’t fill it,” says Thomas Carver, former policy czar for the resort town, who lost his job when he displeased … Continue reading →

Posted in Atlantic City, Australia, Cosmopolitan, Economy, Election, Internet gambling, James Packer, Maine, Melco Crown Entertainment, New Hampshire, Penn National, Politics, Racinos, Revel, Taxes, The Strip | Comments Off

Reid delivers for REITs; Packer calls it quits

Posted on December 22, 2015 by David McKee

Sen. Harry Reid (D) may not see as well as he used to, but he’s still got plenty of ‘juice’ on Capitol Hill. He delivered an early Christmas present for campaign donor (and Caesars Entertainment co-owner) David Bonderman, in the … Continue reading →

Posted in Atlantic City, Australia, Boyd Gaming, Hard Rock International, Harrah's, Harry Reid, James Packer, MGM Mirage, Politics, Taxes, The Strip | Comments Off

No misery in Missouri; Packer’s Vegas venture in question

Posted on December 10, 2015 by David McKee

November was a tranquil month for Missouri casinos, exemplified by Penn National Gaming‘s Argosy Riverside, in Kansas City, dead even with last year. Statewide, foot traffic was down 5% and spending up 6%, particularly at table games, where winnings rose … Continue reading →

Posted in Ameristar, Florida, GLPI, Harrah's, Internet gambling, Isle of Capri, James Packer, Missouri, Penn National, Pinnacle Entertainment, Politics, Seminole Tribe, The Strip, Tribal, Tropicana Entertainment, Wall Street | 1 Comment

The ubiquitous Packer; The 27% solution

Posted on December 2, 2015 by David McKee

James Packer has already missed his 2015 deadline for breaking ground on Alon and once again he is taking his eye off the Las Vegas ball. He and his Nobu co-investor, Robert DeNiro, have cut a deal with Antigua and … Continue reading →

Posted in Colorado, Dan Gilbert, Economy, Full House Resorts, International, James Packer, Kentucky, MGM Mirage, Politics, Racinos, Riviera, The Strip | Comments Off

Up and down the Strip

Posted on November 17, 2015 by David McKee

SLS Las Vegas is finally doing better, if by “doing better” you mean losing only $39 million in a full 3Q15 as opposed to the $46 million lost in the truncated (five-week) 3Q14. Stockbridge Capital Partners continues to have to … Continue reading →

Posted in Architecture, Cosmopolitan, Derek Stevens, Downtown, Economy, Fontainebleau, Genting, Harrah's, James Packer, Lucky Dragon, LVCVA, Marketing, MGM Mirage, Riviera, Sam Nazarian, Sheldon Adelson, SLS Las Vegas, Tamares Group, Taxes, The Strip, Wall Street | 2 Comments

Packer on the move in Vegas; Impending strike in Detroit?

Posted on November 4, 2015 by David McKee

Formally speaking, Alon hasn’t broken ground but that hasn’t stopped James Packer‘s bulldozers and backhoes from moving earth around at the site of the planned megaresort, as well as leveling some of the landscaping Steve Wynn paid for to conceal … Continue reading →

Posted in Architecture, Carl Icahn, Dan Gilbert, Detroit, Fontainebleau, Genting, James Packer, MGM Mirage, SLS Las Vegas, Steve Wynn, The Strip | Comments Off

Caesars loses Ohio; Parking fees on the Strip?

Posted on November 2, 2015 by David McKee

In a lose-lose scenario, Caesars Entertainment is losing its management contracts at Horseshoe Cincinnati, Horseshoe Cleveland and Thistledown Racino. Even with the valuable Horseshoe brand, all three had been losing business in recent months. Caesars had long ago sold its … Continue reading →

Posted in CityCenter, Current, Dan Gilbert, Harrah's, James Packer, Lawrence Ho, Macau, Marketing, Maryland, MGM Mirage, Ohio, Regulation, Sheldon Adelson, Station Casinos, Steve Wynn, Technology, The Strip, Transportation | 1 Comment

Quote of the Day

Posted on October 28, 2015 by David McKee

“Nothing is a straight line up and weeding out corruption is an admirable thing for a government to do. Yes, in the short term it’s painful for us. But I believe the rise of the Chinese middle class is equal to … Continue reading →

Posted in Economy, James Packer, Macau, Regulation | Comments Off

Turmoil at Revel, Trump; DFS to try self-regulation

Posted on October 28, 2015 by David McKee

Atlantic City civic gadfly Glenn Straub is at it again. In addition to trying to wrest electrical power from Stockton University by way of the Showboat (Stockton is contesting the validity of the quid pro quo in court), he’s threatening to sue … Continue reading →

Posted in Atlantic City, Baseball, Carl Icahn, Glenn Straub, Harrah's, Internet gambling, James Packer, Macau, Melco Crown Entertainment, Regulation, Trump Entertainment Resorts, TV | Comments Off

Japan: Keep moving, nothing to see here; Crisis at Studio City

Posted on October 26, 2015 by David McKee

Despite much chumming of the waters by Union Gaming Securities Asia‘s Grant Govertson, it’s the same old same-old in Japan, where casino legalization has been delayed yet again and probably should be under a news blackout until substantial progress is achieved. … Continue reading →

Posted in Architecture, Election, Entertainment, Harrah's, International, Internet gambling, James Packer, Japan, Lawrence Ho, Macau, Melco Crown Entertainment, Mississippi, Pets, Politics, Regulation, Sheldon Adelson, Steve Wynn, Tourism, Wall Street | Comments Off

James Packer thinks big; DFS’ self-inflicted wound

Posted on October 19, 2015 by David McKee

One scarcely thinks of Crown Resorts as anything but an upmarket brand. However, as it contemplates debuting in Las Vegas and pines after Japan, Crown is developing a new, luxury brand. The unlikely template will be a $1.1 billion, 90-story … Continue reading →

Posted in Australia, California, Delaware, Illinois, James Packer, Japan, Macau, Mississippi, Ohio, Pennsylvania, Regulation, Sheldon Adelson, Sports, The Strip | Comments Off

Georgia on their minds; How to kill a casino

Posted on September 14, 2015 by David McKee

MGM National Harbor President Lorenzo Creighton dangles some shiny objects and big numbers before Georgia newspaper readers, promising even bigger things for Atlanta, as MGM Resorts International tries to counter lawmakers’ congenital opposition to gambling with suasion and seductive dollar … Continue reading →

Posted in Boyd Gaming, Culinary Union, Derek Stevens, Detroit, Downtown, Economy, Georgia, Horseracing, International, James Packer, Maryland, MGM Mirage, Penn National, Politics, Sheldon Adelson, Steve Wynn, Taxes | Comments Off

SLS: Closed by 2016?

Posted on August 19, 2015 by David McKee

That’s the stark implication of some remarks by owner Stockbridge Capital Partners about SLS Las Vegas, which continues to generate negative return on investment. Howard Stutz took a deep dive into the numbers and he must have required a bathysphere to … Continue reading →

Posted in Cannery Casino Resorts, Dining, Entertainment, Genting, Harrah's, IGT, Isle of Capri, James Packer, Marketing, Mississippi, Mohegan Sun, Neil Bluhm, New York, Penn National, Pennsylvania, Revel, Sam Nazarian, Sheldon Adelson, SLS Las Vegas, Taxes, The Strip, Wall Street | 1 Comment

Studio City in trouble; Tribal clash in Massachusetts

Posted on August 13, 2015 by David McKee

Melco Crown Entertainment is in Eeyore mood these days, darkly muttering about a “contingency plan” for Studio City if the Macao government doesn’t give it 400 table games. As far back as its 2014 annual report, the company was making … Continue reading →

Posted in Atlantic City, Columbia Sussex, Election, Galaxy Entertainment, Geoff Freeman, Internet gambling, Isle of Capri, James Packer, Lawrence Ho, Macau, Massachusetts, Melco Crown Entertainment, MGM Mirage, Mississippi, Neil Bluhm, Pennsylvania, Regulation, Sheldon Adelson, Steve Wynn, The Strip, Tribal | Comments Off

Packer plays musical chairs; Atlantic City … the rest of the story

Posted on August 13, 2015 by David McKee

A 41% dive in Crown Resorts prompted James Packer to resign his chairmanship of the company, handing his portfolio to Deutsche Bank veteran Robert Rankin. The change appears to be more cosmetic than substantive, seeing as the brawling billionaire will … Continue reading →

Posted in Atlantic City, Australia, Cannery Casino Resorts, Harrah's, Internet gambling, James Packer, Lawrence Ho, Macau, Marketing, Melco Crown Entertainment, Mohegan Sun, Stanley Ho, The Strip, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts | 1 Comment

Caesars ups the ante; Packer: Fear and loathing

Posted on July 21, 2015 by David McKee

Caesars Entertainment stock rallied today on news that the company had palliated its junior creditors by offering them a $200 million forbearance fee along with 10% ownership of the REIT, which it characterized as “a substantial improvement in recoveries.” Caesars … Continue reading →

Posted in Australia, Harrah's, James Packer, Laughlin, Lawrence Ho, Louisiana, Macau, The Strip, Wall Street | Comments Off

Pushback against Adelson; Packer’s pretension

Posted on June 29, 2015 by David McKee

“Poker is an all-American game. It’s a game that I learned as a teen and continue to play today. Just like millions of other players I enjoy the strategy and skill involved.” So said Rep. Joe Barton (R) as he introduced … Continue reading →

Posted in Architecture, Australia, California, CityCenter, Cosmopolitan, Entertainment, Hard Rock Hotel, Harrah's, International, Internet gambling, James Packer, Lawrence Ho, Macau, PokerStars, Politics, Regulation, Taxes, The Strip, Warner Gaming | Comments Off

Big legal bill for Steve Wynn; SLS Las Vegas craters

Posted on June 24, 2015 by David McKee

In case Steve Wynn is having second thoughts that maybe it was a bad idea to try and muzzle stock-picker James Chanos, a federal court made it official. On top of two defeats in the courtroom, Wynn has been handed a … Continue reading →

Posted in Colony Capital, Cosmopolitan, Entertainment, Genting, James Packer, Macau, Marketing, Massachusetts, MGM Mirage, Sahara, Sam Nazarian, Sheldon Adelson, SLS Las Vegas, Steve Wynn, The Mob, The Strip, Tribal, Wall Street | Comments Off

Billion-dollar bonanza in Macao; Mob boss returns

Posted on June 24, 2015 by David McKee

Casino investment in the U.S. has largely been a bust for private equity firms. However, two funds — Silver Point Capital and Oaktree Capital Management — could be about to hit the jackpot in Macao. It seems that Melco Crown … Continue reading →

Posted in Economy, International, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Singapore, Stanley Ho, The Mob, Tourism, Wall Street | Comments Off

Atlantic City fights back; Packer a good bet again

Posted on June 23, 2015 by David McKee

After seemingly being in shock from the stampede to put casinos in northern New Jersey, civic leaders of Atlantic City are starting to put up a fight. The terms of battle vary, with some dead-set against a breaking of … Continue reading →

Posted in Atlantic City, Economy, Hard Rock International, Internet gambling, James Packer, Macau, MGM Mirage, Mississippi, New York, Politics, Sheldon Adelson, Tropicana Entertainment | Comments Off