Category Archives: Louisiana

The industry speaks, Part Two

Posted on March 13, 2014 by David McKee

Both Penn National Gaming and Pinnacle Entertainment have weighed in at the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum. Penn engaged in a three-bucket division of its casinos. “The first bucket comprises properties in markets where there has … Continue reading →

Posted in Ameristar, Indiana, Louisiana, Marketing, Massachusetts, MGM Mirage, Missouri, Ohio, Penn National, Pinnacle Entertainment, Racinos, Tilman Fertitta, Wall Street, West Virginia | Comments Off

Optimism around the industry

Posted on March 13, 2014 by David McKee

Las Vegas‘ premier casino companies have been showing their wares at the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum. Among the pilgrims was Wynn Resorts CFO Matt Maddox, who reported that Wynncore is increasing revenue per available room … Continue reading →

Posted in Atlantic City, Boyd Gaming, International, Internet gambling, Japan, Louisiana, Macau, Massachusetts, Mississippi, Sheldon Adelson, Steve Wynn, The Strip, Tilman Fertitta, Wall Street | Comments Off

Caesars disappoints Wall Street

Posted on March 12, 2014 by David McKee

Caesars Entertainment posted a staggering, $1.76 billion loss (-$12.83/share), as some analysts fret that the recent fire sale of four casinos to Caesars Growth Partners may starve parent company Caesars Entertainment Operating Co. of cash flow. Meanwhile, Big Caesars has … Continue reading →

Posted in Atlantic City, Harrah's, Louisiana, Missouri, Revel, Wall Street | 4 Comments

Caesars sells … to itself

Posted on March 3, 2014 by David McKee

Our friends Big Caesars and Little Caesars are back in the news again. Caesars Growth Partners (Little Caesars) has agreed to spend $2.2 billion to obtain Bally’s Las Vegas, The Cromwell, The Quad and Harrah’s New Orleans. The price includes … Continue reading →

Posted in Current, Election, Harrah's, Louisiana, Macau, Sheldon Adelson, The Strip, Tribal, Wisconsin | 2 Comments

Case Bets: Sands, Atlantic City, Maryland, Isle of Capri, Churchill Downs, etc.

Posted on February 28, 2014 by David McKee

Las Vegas Sands lost more top executive talent when Sands Bethworks President Robert DeSalvio handed in his notice. He’ll be at the casino through mid-March but the move seems to have caught Sands off-guard. The latter assured reporters that DeSalvio’s … Continue reading →

Posted in Atlantic City, Churchill Downs, Cordish Co., Foxwoods, Harrah's, Horseracing, Illinois, International, Isle of Capri, Kentucky, Louisiana, Maryland, Pennsylvania, Sheldon Adelson, Tilman Fertitta, Wall Street | 1 Comment

Case Bets: GLPI, Macao, Louisiana, Ely

Posted on February 21, 2014 by David McKee

Gaming & Leisure Properties, parent company of Penn National Gaming, held its first conference and discussed what Deutsche Bank‘s Carlo Santarelli, in a Freudian slip, called “key tenants [sic] of the … bull case.” We’re already seeing how GLPI intends … Continue reading →

Posted in Boyd Gaming, Harrah's, Isle of Capri, Louisiana, Macau, Missouri, Penn National, Pinnacle Entertainment, Regulation, Wall Street | Comments Off

Penn gets frostbite; Virginia passes up gambling

Posted on February 6, 2014 by David McKee

Caught between harsh weather and a tighter competitive squeeze, Penn National Gaming posted 4Q13 revenues that were 13% down from last year. The $645 million loss drew a surprisingly muted reaction from gaming analysts. The company is already drastically reducing … Continue reading →

Posted in California, Louisiana, Macau, Missouri, Ohio, Penn National, Politics, Problem gambling, Racinos, Sheldon Adelson, Stanley Ho, Steve Wynn, Taxes, Wall Street | Comments Off

Winter of discontent

Posted on January 17, 2014 by David McKee

It’s been a grim December for regional casino markets. Even Pennsylvania, once a bastion of strength, ended 2013 with a slight year/year decline. In Connecticut, a 15% revenue decline was reported at Foxwoods Resort Casino, with handle off 21%. Mohegan … Continue reading →

Posted in Boyd Gaming, Economy, Foxwoods, Harrah's, Louisiana, Marketing, Mohegan Sun, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Sheldon Adelson, Sports, Taxes, The Mob, The Strip, Tourism | Comments Off

Caesars’ big bazaar; Psychic powers in Massachusetts; When is a profit not a profit?

Posted on December 4, 2013 by David McKee

Linq is shaping up handsomely and its Ferris wheel just had its last gondola added yesterday. So, if we can put Caesars Entertainment‘s debt problems aside for a second, the company is doing very nicely in the capex department, where … Continue reading →

Posted in Delaware, Harrah's, International, Iowa, Isle of Capri, Louisiana, Massachusetts, Racinos, Regulation, The Strip, Wall Street | Comments Off

Breaking Boyd

Posted on October 31, 2013 by David McKee

Boyd Gaming missed Wall Street expectations last quarter, posting negative earnings of eight cents a share, compared to the $0.01/share profit the Street was anticipating. Deutsche Bank‘s Carlo Santarelli blamed “softer-than-expected net revenues … below the low-end of management’s guidance.” Las … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, Current, Downtown, Environment, Greenwood Racing, history, Iowa, Louisiana, Maryland, MGM Mirage, Ohio, Penn National, Wall Street | Comments Off

Singin’ the blues in Pennsylvania, Louisiana

Posted on October 16, 2013 by David McKee

Even slight improvements in consumer spending weren’t enough to help Pennsylvania. Gross gambling revenue fell 6%. Thanks to strong table play, Sands Bethlehem was able to buck the trend, staying flat for September. By contrast, Harrah’s Philadelphia — in a … Continue reading →

Posted in Dining, Greenwood Racing, Harrah's, Isle of Capri, Louisiana, Neil Bluhm, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Sheldon Adelson, The Strip, Wall Street | Comments Off

(Almost) Everybody wins in Louisiana

Posted on September 19, 2013 by David McKee

First the good news: Louisiana was up 14% last month. Now the less-good news: Take away the two new riverboats and the market was up 1%. L’Auberge Baton Rouge and Margaritaville, in Shreveport, were getting the job done, in essence, … Continue reading →

Posted in Boyd Gaming, Economy, Louisiana, Penn National, Pinnacle Entertainment, Wall Street | Comments Off

Gomes out, Adelson in, Japan on the fence

Posted on September 16, 2013 by David McKee

Take a good look at that flapper-era costume. It’s not long for Resorts Atlantic City. Now that the Mohegan Gaming Authority has well and truly taken the reins of the property, the late Dennis Gomes‘ Prohibition Era theming is on … Continue reading →

Posted in Atlantic City, Dennis Gomes, International, Louisiana, Marketing, Mohegan Sun, Sheldon Adelson, Wall Street | Comments Off

Motivated in Massachusetts; Naked at Horseshoe

Posted on September 12, 2013 by David McKee

If there’s anything to be learned from this week’s Hard Rock International face-plant in West Springfield, it’s not to take anything for granted. HRI made the mistake of believing its own poll, indeed, venerating it like holy writ, and got a … Continue reading →

Posted in Dining, Foxwoods, Hard Rock International, Harrah's, Louisiana, Massachusetts, Regulation, The Strip, Tribal | Comments Off

Troubling trend in Mississippi; Caesars pleads poverty

Posted on August 22, 2013 by David McKee

Evidence of casino saturation in the U.S. (and economic malaise) continues to mount. Following a 6% dropoff in Mississippi casino revenues for July, the Biloxi Sun-Herald‘s Mary Perez was moved to examine a larger trend. Here’s what she found in … Continue reading →

Posted in Current, Economy, Harrah's, Louisiana, Mississippi, Reno | 1 Comment

Pinnacle’s done deal; Collateral damage from Ho Tram

Posted on August 14, 2013 by David McKee

Federal Trade Commission approval removed the last obstacle to Pinnacle Entertainment‘s takeover of Ameristar Casinos. The acquisition closed straightaway. Pinnacle informed investors that it expects to have a Lumiere Place sale done by autumn, meeting the last of the FTC covenants … Continue reading →

Posted in Ameristar, Current, Election, International, Louisiana, Marketing, Massachusetts, MGM Mirage, Missouri, Pinnacle Entertainment, Racinos, Regulation, Tilman Fertitta, Wall Street | 1 Comment

Scramble in Massachusetts; Malaise in Mississippi

Posted on July 23, 2013 by David McKee

Sept. 24 is the day appointed for voters in Leominster to say “aye” or “nay” to a slot parlor proposed by Cordish Gaming. That’s nine days before the deadline for submitting voter-approved HCAs to the Massachusetts Gaming Commission. Which, in … Continue reading →

Posted in Cordish Co., Current, Economy, Election, Florida, Foxwoods, Genting, Louisiana, Massachusetts, Mississippi, Mohegan Sun, Neil Bluhm, Sheldon Adelson, The Strip, Transportation, Tribal | 1 Comment

Barton delivers; Penn takes the initiative

Posted on July 12, 2013 by David McKee

It was a somewhat mixed victory for the casino industry. Rep. Joe Barton (R-TX, left) revived a 2012 initiative, in the form of his Internet Poker Freedom Act, legislation that he’s been promising for a couple of election cycles now. … Continue reading →

Posted in Architecture, Current, Internet gambling, Isle of Capri, Louisiana, Maryland, Massachusetts, Penn National, Pennsylvania, Politics, Regulation, Station Casinos, Steve Wynn, Taxes, The Strip | 1 Comment

A note of thanks; Going … going … Gore

Posted on July 10, 2013 by David McKee

As many of you know, Mount Charleston, on the distant outskirts of Las Vegas, is being consumed by a huge forest fire. Not only has the blaze threatened Siegel Group‘s Mount Charleston Lodge, it’s also displaced some of the many … Continue reading →

Posted in Cannery Casino Resorts, Current, Entertainment, Environment, Louisiana, Pinnacle Entertainment, Taxes, The Strip | 1 Comment

Massachusetts: It’s where the action might be; Where there’s smoke, there’s Sheldon

Posted on July 9, 2013 by David McKee

Update/Correction: I’m reliably informed that dog racing (see below) is illegal in Massachusetts and will remain so, praise be. Also, Neil Bluhm is now wooing Millbury for a slot-parlor site. Except for Raynham Park, all slot-parlor applicants are under the … Continue reading →

Posted in Animals, Architecture, Colony Capital, Cordish Co., Current, Economy, Environment, history, International, Isle of Capri, Louisiana, Massachusetts, MGM Mirage, Mississippi, Neil Bluhm, Oklahoma, Politics, Racinos, Regulation, Sheldon Adelson, Tribal | 1 Comment