Category Archives: Louisiana

Buyer’s market on the Boardwalk

Posted on July 3, 2013 by David McKee

An East Coast spy for S&G has had his ear to the ground and reports that a veritable horde of prospective purchaser are descending upon Atlantic City. Casino prices having fallen about as low as they can go, “buy” appears … Continue reading →

Posted in Ameristar, Atlantic City, Colony Capital, Current, Economy, Louisiana, Missouri, Neil Bluhm, Penn National, Pennsylvania, Pinnacle Entertainment, Revel | 1 Comment

Pinnacle folds; Kansas City rebounds

Posted on June 17, 2013 by David McKee

Wow. I am stunned. Despite defiant proclamations that he would fight the Federal Trade Commission in court, Pinnacle Entertainment CEO Anthony Sanfilippo capitulated in swift order. This morning, J.P. Morgan reported that Pinnacle had reached an agreement in principle to … Continue reading →

Posted in Ameristar, Current, Harrah's, Isle of Capri, Louisiana, Missouri, Penn National, Pinnacle Entertainment, Regulation | 2 Comments

Tilman Fertitta, stiff; PokerStars’ desperation; Parrotheads in Shreveport;

Posted on June 14, 2013 by David McKee

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 →

Posted in Atlantic City, Carl Icahn, Colony Capital, Current, Downtown, Indiana, Internet gambling, Louisiana, Tilman Fertitta, Tourism, Tropicana Entertainment | 2 Comments

Pinnacle: First the good news …; Cuomo strikes again

Posted on June 13, 2013 by David McKee

Pinnacle Entertainment has lined up $2.9 billion in financing for its takeover of Ameristar Casinos. (Wouldn’t it have been awkward if Wall Street had said, “No thanks”?) In case you’re wondering, the deal values Ameristar at 8X cash flow, a … Continue reading →

Posted in Ameristar, Current, Harrah's, Louisiana, MGM Mirage, Mississippi, New York, Pinnacle Entertainment, Regulation, Taxes, Tribal, Wall Street | 1 Comment

The rest of the story: Boyd, IGT & Bally

Posted on June 3, 2013 by David McKee

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 | Comments Off

Pinnacle: The cost of the deal

Posted on May 30, 2013 by David McKee

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 | Comments Off

Feds balk at Pinnacle/Ameristar deal

Posted on May 29, 2013 by David McKee

Given the supine attitude toward mergers and acquisitions that has prevailed in Washington, D.C., for the past 15 years and the routine, state-by-state approval of Pinnacle Entertainment‘s takeover of Ameristar Casinos, I had erroneously thought it a done deal. Not … Continue reading →

Posted in Cosmopolitan, Current, Economy, Harrah's, Illinois, Isle of Capri, Louisiana, MGM Mirage, Missouri, Penn National, Pinnacle Entertainment, Regulation, The Strip, Tourism, Wall Street | 2 Comments

Pennsylvania and Louisiana: It’s what it is

Posted on May 16, 2013 by David McKee

When last seen, Caesars Entertainment CEO Gary Loveman was telling his brethren that a stale property is an endangered property. To prove his point, he need look no farther than Philadelphia, where new kid on the block Valley Forge Casino … Continue reading →

Posted in Boyd Gaming, Current, Economy, Genting, Isle of Capri, Louisiana, New York, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Regulation, Sheldon Adelson, Tropicana Entertainment | 1 Comment

Pinnacle expands, Boyd loses face

Posted on February 28, 2013 by David McKee

Jeez, I go on sabbatical to attend to other writing commitments and hella history breaks loose: Internet gambling is now the law of Nevada and New Jersey (so much for federal legalization being “just around the corner,” huh?), Caesars Entertainment … Continue reading →

Posted in Boyd Gaming, Current, Florida, Harrah's, Internet gambling, Louisiana, Pinnacle Entertainment, Politics, The Strip | 4 Comments

Caesars: Cui bono?; Loveman woos Britney

Posted on February 6, 2013 by David McKee

Our question for the day is, “Who benefits?” Taking the long view of Caesars Entertainment to bundle a mixed bag of Planet Hollywood, its-casino-to-be in Baltimore and Caesars Interactive, in whose interest is it to purchase minority stakes, since CEO … Continue reading →

Posted in Boyd Gaming, Cirque du Soleil, CityCenter, Cosmopolitan, Current, Dan Gilbert, Entertainment, Harrah's, International, Internet gambling, Kansas, Louisiana, Maryland, MGM Mirage, Missouri, Ohio, Penn National, Planet Hollywood, Steve Wynn, Taxes, The Strip, Wall Street | 1 Comment

Boyd tightens belt; Detroit defies Ohio threat; Tilman makes a boo-boo

Posted on January 23, 2013 by David McKee

It’s time to pay the piper for Boyd Gaming‘s $1.5 billion takeover of Peninsula Gaming and Boyd employees are the first ones feeling the pinch. Three vice presidents — including 13-year Boyd veteran Dan Stark — and roughly 250 employees … Continue reading →

Posted in Atlantic City, Boyd Gaming, Current, Economy, Iowa, Louisiana, MGM Mirage, Ohio, Penn National, Pinnacle Entertainment, Regulation, Revel, Tilman Fertitta, Tribal, Warner Gaming | Comments Off

Would you trust Gary Loveman with your Social Security?

Posted on January 17, 2013 by David McKee

In addition to presiding over the most grotesquely indebted company — by far — in the casino industry, Caesars Entertainment CEO/President/Chairman/Pontifex Maximus/Generalissimo Gary Loveman also wants to dictate the manner in which we eke out our “golden years.” Amazingly, somebody … Continue reading →

Posted in Current, Dan Gilbert, Economy, Election, Harrah's, history, International, Louisiana, Macau, MGM Mirage, Mississippi, Problem gambling, TV, Wall Street | 14 Comments

CityCenter’s clearance sale; Ameristar’s secret admirer

Posted on December 27, 2012 by David McKee

After a long, abyssal plunge, Las Vegas‘ real estate market has bottomed out — or so knowledgeable people tell me. Seems that the banks ’round here ignored Mitt Romney‘s (bad) advice to dump the “shadow inventory” en masse into the … Continue reading →

Posted in Ameristar, CityCenter, Current, Donald Trump, Economy, Election, Harrah's, Illinois, Louisiana, Massachusetts, MGM Mirage, Missouri, Penn National, Pinnacle Entertainment, Sheldon Adelson, The Strip, Wall Street | Comments Off

PNK piquing little interest; B.S. walks

Posted on December 26, 2012 by David McKee

‘Twas the day after Christmas and all through the house, shareholders were beginning to cool on the value of Ameristar Casinos stock. It closed ever so slightly down from Pinnacle Entertainment‘s $26.50/share offer price. Perhaps I was wrong and $869 … Continue reading →

Posted in Ameristar, Boyd Gaming, California, Current, Goldman Sachs, Hard Rock Hotel, Harrah's, Illinois, Isle of Capri, Louisiana, Missouri, Penn National, Pinnacle Entertainment, Plaza, Regulation, Sahara, Sheldon Adelson, Sports, The Strip, Wall Street, Warner Gaming | 1 Comment

Pinnacle punks Penn, swipes Ameristar

Posted on December 21, 2012 by David McKee

We’ve learned two important things today. One, that the Mayan calendar is not the most reliable predictor of events. Two, that Ameristar Casinos‘ on-again/off-again talk about putting itself up for sale was back in “on” mode. Before hardly anybody got … Continue reading →

Posted in Ameristar, Atlantic City, Boyd Gaming, Columbia Sussex, Cordish Co., Current, Dan Lee, Economy, Election, Goldman Sachs, Harrah's, Indiana, Iowa, Kansas, Louisiana, Maryland, Massachusetts, MGM Mirage, Mississippi, Missouri, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Racinos, Regulation, Sheldon Adelson, Steve Wynn, Taxes, Texas, Wall Street | 1 Comment

A tale of two Penns

Posted on November 16, 2012 by David McKee

Update: Seeking Alpha’s Brad Thomas has run the numbers on the Penn split and doesn’t like the risk/reward scenario. Fifteen years and many consolidations ago, the casino industry was seized by a brain fever. It was set off by the … Continue reading →

Posted in Ameristar, Colorado, Cordish Co., Harrah's, history, Indiana, International, Kansas, Louisiana, Maine, Maryland, MGM Mirage, Ohio, Pennsylvania, Racinos, Regulation, Riviera, Sheldon Adelson, Station Casinos, Steve Wynn, Taxes, Texas, The Strip, Tribal, Wall Street | 2 Comments

Louisiana be crazy; Maryland: If you can’t beat ’em …; Revel on the ropes

Posted on November 15, 2012 by David McKee

Casino revenues in the Pelican State were up 2% last month, entirely upon the strength of Pinnacle Entertainment‘s L’Auberge Baton Rouge (above). It propelled the Baton Rouge market 58% upward, grossing $11 million at the expense of Argosy Baton Rouge … Continue reading →

Posted in Atlantic City, Boyd Gaming, CityCenter, Cordish Co., Current, Economy, Election, Harrah's, Iowa, Louisiana, Maryland, Penn National, Pinnacle Entertainment, Racinos, Revel, Taxes, Wall Street | 4 Comments

Third-quarter blahs: Ameristar, Boyd, MGM; Crackdown in Alabama

Posted on November 2, 2012 by David McKee

While nobody quite matched the $221 million loss posted by Caesars Entertainment, the gaming industry didn’t lack for underachievers in 3Q12, thanks largely to softness in domestic casino markets. Ameristar Casinos reported a $16 million profit, despite a 2% revenue … Continue reading →

Posted in Alabama, Ameristar, Atlantic City, Boyd Gaming, CityCenter, Colorado, Current, Detroit, Downtown, Environment, Harrah's, Hawaii, Illinois, Iowa, Kansas, Louisiana, Macau, Marketing, Massachusetts, MGM Mirage, Mississippi, Missouri, Ohio, Penn National, Steve Wynn, The Strip | Comments Off

Pinnacle saves September in Louisiana; Echelon under wraps; The red-headed stepkids of Station, Sands and Caesars

Posted on October 18, 2012 by David McKee

Folks down in the Pelican State had better things to do than gamble last month … like clean up after Hurricane Isaac. This might account for a 5% year/year decline in casino revenues. Louisiana‘s gambling venues grossed $200 million last … Continue reading →

Posted in Boyd Gaming, CityCenter, Current, Economy, Entertainment, Florida, Harrah's, Isle of Capri, Louisiana, Marketing, MGM Mirage, Missouri, Pennsylvania, Pinnacle Entertainment, Politics, Racinos, Regulation, Sheldon Adelson, Station Casinos, Taxes, The Strip, Tourism, Transportation, Wall Street | Comments Off

Black man frightens Steve Wynn, Part Two; MGM: Time to forget Harmon?

Posted on October 10, 2012 by David McKee

As Yahoo‘s Jeff Macke cuttingly puts it, he “found a real, live businessman who creates jobs,” thereby providing a Steve Wynn-to-sanity translation, courtesy of CIO Advisors‘ Hugh Johnson. If Wynn were truly being honest, he’d cut to the quick: He’s … Continue reading →

Posted in Architecture, Cantor Gaming, CityCenter, Colony Capital, Columbia Sussex, Cosmopolitan, Cretins, Current, Donald Trump, Economy, Election, Fontainebleau, Goldman Sachs, Hard Rock Hotel, Harrah's, history, International, Louisiana, Macau, Massachusetts, MGM Mirage, Morgans Hotel Group, North Las Vegas, Politics, Sports, Station Casinos, Steve Wynn, Technology, TV, Wall Street | 2 Comments