Category Archives: Louisiana

Phua case goes “poof!”; Texas casinos a mission impossible

Posted on April 20, 2015 by David McKee

A federal case against an unlicensed, do-it-yourself sports book collapsed like a pup tent when a federal judge tossed out both the premise of an FBI search and, by extension, the evidence gathered therefrom. In a warrantless search, G-men cut … Continue reading →

Posted in Atlantic City, Environment, Harrah's, Internet gambling, Iowa, Louisiana, Politics, Problem gambling, Racinos, Regulation, Texas, The Strip, Tribal | Comments Off

Who is Glenn Straub?; Tribal desperation in Texas

Posted on April 7, 2015 by David McKee

He’s a specialist in buying and (sometimes) turning around distressed properties, it would seem. He’s also characterized as a hard-charging businessman who leaves bruised feelings in his wake. “He’s not someone who’s going to consider the other person’s point of view. … Continue reading →

Posted in Atlantic City, Florida, Glenn Straub, Louisiana, Politics, Revel, Texas, Tribal, Wall Street, West Virginia | Comments Off

Macao’s Great Recession; Caesars shreds contracts

Posted on March 17, 2015 by David McKee

Yes Virginia, there is a recession in Macao. With two consecutive quarters of negative GDP growth, the casino city meets Wall Street‘s definition of a recessionary economy. Eighty percent of Macanese revenue comes from gambling, so when the central government … Continue reading →

Posted in California, Economy, Entertainment, Harrah's, Louisiana, Macau, New York, Philippines, Planet Hollywood, Regulation, Sheldon Adelson, Sports, Steve Wynn, Tourism, Transportation, Wall Street | Comments Off

Caesars pensioners find sympathetic ear

Posted on March 13, 2015 by David McKee

Caesars Entertainment‘s cutoff of payments to several dozen pensioners drew the attention of the Nevada Gaming Control Board, taking up the bulk of Wednesday’s hearing. NGCB Terry Johnson member told Caesars attorneys, “The pensioners are an important matter that should not … Continue reading →

Posted in Boyd Gaming, Harrah's, Louisiana, Marketing, Massachusetts, New York, Racinos, Regulation, Revel, Tribal, Tropicana Entertainment | Comments Off

Big Gaming speaks

Posted on March 9, 2015 by David McKee

Last week, the great and powerful of the casino industry attended a show-and-tell at the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum. Here’s what they had to say … Wynn Resorts: The company is looking to make … Continue reading →

Posted in Atlantic City, Boyd Gaming, Economy, Genting, James Packer, Japan, Louisiana, Macau, Massachusetts, MGM Mirage, Ohio, Penn National, Politics, Problem gambling, Rhode Island, Singapore, Steve Wynn, The Strip, Wall Street | Comments Off

Macao casinos squeezed again; Isle’s clean sweep

Posted on February 25, 2015 by David McKee

First, it was the corruption crackdown. Now, the Chinese government is reviewing visitation levels to Macao. As Macanese Secretary for Social Affairs & Culture Alexis Tam put it, “[T]oo many tourists impact residents’ quality of life.” That’s not music to casinos’ ears and … Continue reading →

Posted in Colorado, Florida, Isle of Capri, Louisiana, Macau, Melco Crown Entertainment, MGM Mirage, Mississippi, Missouri, Racinos, Regulation, Sheldon Adelson, Steve Wynn, Tourism, Wall Street | Comments Off

Tilman Fertitta’s blockbuster

Posted on February 19, 2015 by David McKee

When looked on Ye Olde Same Store Basis, gaming revenues in Louisiana are good enough, up 4%. Add Tilman Fertitta‘s Golden Nugget Lake Charles to the mix and revs shoot up 17%. No, that’s not a typo. The Nugget is … Continue reading →

Posted in Atlantic City, Boyd Gaming, Churchill Downs, Downtown, Entertainment, GLPI, Harrah's, Isle of Capri, Louisiana, Pinnacle Entertainment, Racinos, Tilman Fertitta, Tropicana Entertainment, Wall Street | Comments Off

Indian giver wins big in Atlantic City; Positive quarters for Pinnacle, Boyd

Posted on February 13, 2015 by David McKee

Fourteen gamblers are $1.5 million lighter in the wallet after a New Jersey judge ordered them to pay restitution to the Golden Nugget Atlantic City. At issue was the Nugget’s use of “pre-shuffled” card packs that were nothing of the … Continue reading →

Posted in Atlantic City, Boyd Gaming, Downtown, Economy, Louisiana, Pinnacle Entertainment, Taxes, Tilman Fertitta, Wall Street | Comments Off

Where to dump Trump?; Straub stumped

Posted on February 11, 2015 by David McKee

Although he’s buried millions of dollars in New Jersey, having been party to four casino bankruptcies, Donald Trump doesn’t want his carcass interred there. Instead, when he goes to that big sand trap in the sky, he wants to be … Continue reading →

Posted in Affinity Gaming, Atlantic City, Donald Trump, Florida, Glenn Straub, Golden Gaming, Horseracing, Illinois, Louisiana, Lyle Berman, Maryland, Revel, Slot routes | 1 Comment

Addition in Mississippi; Subtraction in Atlantic City; Gluttony in Las Vegas

Posted on January 29, 2015 by David McKee

It was all there in black and white: $935 million in state and federal taxes paid, and $4 billion in economic. That’s what Mississippi casinos achieved, despite two closures. “The numbers reflect we’re doing OK here in Mississippi,” understated Mississippi Gaming & … Continue reading →

Posted in Atlantic City, Dining, Economy, Glenn Straub, Louisiana, Marketing, Mississippi, Missouri, Revel, Taxes, The Strip | 1 Comment

Caesars on the defensive

Posted on January 27, 2015 by David McKee

It’s Chicken Little time at Caesars Entertainment, where the company is sketching gloom-and-doom scenarios unless the court system goes along with its preferred timeline for a prepackaged bankruptcy. “If you go to the earlier filing day, you likely jettison the [restructuring support agreement],” … Continue reading →

Posted in Carl Icahn, Delaware, Environment, Fontainebleau, Harrah's, Illinois, Louisiana, Wall Street | Comments Off

Stir crazy in Massachusetts

Posted on January 23, 2015 by David McKee

For all the restrictions it has placed upon its casinos, there’s one restraint the Massachusetts Gaming Commission wants to ease. It has proposed raising the $600 ‘IRS lockdown’ imposed on slot winners: “a player will not be able to play … Continue reading →

Posted in Environment, Louisiana, Massachusetts, Ohio, Penn National, Regulation, Rhode Island, Taxes | Comments Off

The man who couldn’t make up his mind

Posted on January 22, 2015 by David McKee

Wisconsin Gov. Scott Walker (R) has become the Hamlet of the casino industry, torn between varying tribal interests and uncommitted to decisive action. He’ll have to make some decision on the Menominee Nation‘s Hard Rock International project in Kenosha by … Continue reading →

Posted in Hard Rock International, Louisiana, Pinnacle Entertainment, Regulation, Taxes, Tribal, Wisconsin | 1 Comment

Loveman succeeds: Caesars bankrupt

Posted on January 15, 2015 by David McKee

Not wasting any time, CEO Gary Loveman put Caesars Entertainment Operating Co. into Chapter 11 today, filing the motion in Chicago to circumvent a Delaware lawsuit. (The reason for the Windy City filing may go a lot deeper than proximity … Continue reading →

Posted in Boyd Gaming, Delaware, Economy, GLPI, Harrah's, Illinois, Lake Tahoe, Louisiana, Mississippi, New York, Penn National, Pinnacle Entertainment, Racinos, The Strip, Tilman Fertitta, Wall Street | Comments Off

Caesars, bankrupt, rewards Loveman

Posted on January 8, 2015 by David McKee

Both sides in the Caesars Entertainment bankruptcy are playing hardball. According to Bloomberg News, senior bondholders don’t care for what Caesars is offering and want a bigger payday. “Investors who say they own $1.6 billion in Caesars first-lien notes hired … Continue reading →

Posted in Harrah's, Louisiana, South Korea, The Strip, Wall Street | 1 Comment

Icahn: My way or the highway

Posted on December 15, 2014 by David McKee

If Unite-Here doesn’t cave in today, it’s curtains for Trump Taj Mahal. Or so says Carl Icahn, who wants the union to abandon its court fight to restore health and pension benefits breached by Trump Entertainment Resorts. If Icahn carries … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Dining, Entertainment, Harrah's, Louisiana, Pinnacle Entertainment, Texas, The Strip, Tilman Fertitta, Tribal, Trump Entertainment Resorts | Comments Off

Illinois disappoints, Ohio surprises and Golden Nugget opens early

Posted on December 8, 2014 by David McKee

Except for a mild, 2% increase at Harrah’s Joliet, it was a very schizoid November for Illinois, whose casinos came in 4% below last year. There was one less weekend day, which some will cite as an alibi … but then … Continue reading →

Posted in Boyd Gaming, Genting, GLPI, Hard Rock International, Harrah's, Illinois, Louisiana, MGM Mirage, MTR Gaming, Neil Bluhm, New York, Ohio, Penn National, Pinnacle Entertainment, Racinos, Tilman Fertitta | 1 Comment

Loveman’s credit capers; Green shoots in flyover country

Posted on December 1, 2014 by David McKee

Reorganization of Caesars Entertainment promises to continue to provide drama. UMB Bank threw red meat on the barbeque with a lawsuit that charged Apollo Management and Texas Pacific Group with having “thoroughly ransacked CEOC in a sweeping and now transparent plan … Continue reading →

Posted in Atlantic City, Boyd Gaming, Economy, Harrah's, Isle of Capri, Louisiana, Maryland, Ohio, Penn National, Pinnacle Entertainment, Regulation, The Strip, Tilman Fertitta, Wall Street, World Series of Poker | 6 Comments

Big Ease; The Mirage, 25 years later

Posted on November 20, 2014 by David McKee

Even with 19 non-tribal casinos and racinos to support, the Louisiana market continues to rebound. It was up 4% last month, with even 2% growth in the crowded Shreveport/Bossier City marketplace. El Dorado was the second-highest grosser and the percentage leader … Continue reading →

Posted in Boyd Gaming, Churchill Downs, CityCenter, Downtown, GLPI, Hard Rock Hotel, Harrah's, history, Isle of Capri, Louisiana, MGM Mirage, Penn National, Pennsylvania, Pinnacle Entertainment, Regulation, Sheldon Adelson, Steve Wynn, Tropicana Entertainment | 1 Comment

REITmania … it’s catching

Posted on November 6, 2014 by David McKee

Pinnacle Entertainment has signaled its intention to follow in the footsteps of Penn National Gaming and convert into a real estate investment trust. It’s somewhat clearer cut than the convoluted Penn/Gaming & Leisure Properties split, with Pinnacle’s property company retaining … Continue reading →

Posted in Ameristar, Colorado, Donald Trump, Election, Louisiana, Missouri, Penn National, Pinnacle Entertainment, Wall Street | 1 Comment