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Category Archives: Macau
Quote of the Day
“I was probably a little tougher on them than I should have been on the conference call. But look, I have made promises to the people over there, and it’s only fair that they help me keep those promises. But … Continue reading
Posted in Macau, Regulation, Steve Wynn
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Adelson’s Capitol Hill puppet show
Rep. Jason Chaffetz (R) held another kangaroo court on Internet gambling and was in his best Sheldon Adelson-like Luddite form, scoffing at geofencing software. “It’s naive at best to think you can put a wall on the Internet,” said the willfully ignorant … Continue reading
Posted in Atlantic City, Cretins, Delaware, Harrah's, Internet gambling, Iowa, Law enforcement, Macau, Politics, Regulation, Sheldon Adelson, South Carolina, Technology
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Wynn’s big buy; DFS in retreat
Steve Wynn is $63,800,000 lighter in the wallet this morning, after purchasing one million shares of Wynn Resorts on the open market over the last three days. This brings his total stake in the company to slightly more than 11 … Continue reading
Posted in Internet gambling, Law enforcement, Macau, Pennsylvania, Politics, Racinos, Regulation, Steve Wynn, Warner Gaming
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Las Vegas’ latest efforts to combat the online casino revolution
By Walter Allen Although Las Vegas has long enjoyed a reputation as being the world’s premier casino destination, in the 21st century it has faced unprecedented competition. Not only are alternative gambling hotspots such as Macau in their ascendancy, but increasingly … Continue reading
Posted in Entertainment, Internet gambling, Macau, The Strip
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Straub’s plans evolve; Martin Walsh, loser
Remember, you read it here first. Glenn Straub intends to sublicense the casino portion of Revel to an outside operator. It will have to be a company with a high tolerance for risk, as Straub is insisting on a 30-year … Continue reading
Posted in Atlantic City, Economy, Glenn Straub, Macau, Marketing, Massachusetts, Melco Crown Entertainment, Politics, Regulation, Revel, Steve Wynn
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‘Net betting in Massachusetts?; Fast track for skill-based slots
Pressure to legalize Internet gambling has emerged from an unexpected quarter — Massachusetts. State Sen. Bruce Tarr (R) has proposed a bill that would allow Web casinos to piggyback onto existing brick-and-mortar ones. True, Wynn Resorts is averse to ‘Net … Continue reading
Posted in Atlantic City, Internet gambling, Macau, Massachusetts, MGM Mirage, Penn National, Politics, Scientific Games, Steve Wynn, Technology, Tribal, Wall Street
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Quote of the Day
“It’s no secret that for a long time the rumor was we were going to get [only] 150 tables. Were we flipping out? Of course we were flipping out. But we never went out publicly. There’s no arguing with City Hall. … Continue reading
Posted in Lawrence Ho, Macau, Regulation
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No Great Pumpkin for Las Vegas; Further woe for Macao
It was Las Vegas Strip casinos’ bad luck to have Oct. 31 fall on a Saturday, meaning that revenues (particularly from slots) from that weekend won’t be reported until the end of November. Consequently, Strip revenues fell 5% in October, … Continue reading
The dark side of DFS; Wynn delay provokes caution
Daily fantasy sports backlash has claimed its first casualty. Relatively minor site TradeSports.com has gone out of business. “Recent negative events in the industry have already increased our costs of operating (and will most likely continue to do so); or perhaps … Continue reading
Posted in Economy, Internet gambling, Macau, Massachusetts, Problem gambling, Regulation, Steve Wynn, Wall Street
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Rick Scott screws the Seminoles; Internet gaming advances in Pennsylvania
By the this point in time it’s pretty clear that Florida Gov. Rick Scott (R) has been negotiating in bad faith with the Seminole Tribe. He’s had five years to come up with a new compact regarding the tribe’s blackjack … Continue reading
Posted in Florida, Internet gambling, Macau, Pennsylvania, Regulation, Seminole Tribe, Steve Wynn
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Boyd ‘upbeat’ on Wall Street; Wynn Palace on hold
Boyd Gaming CEO Keith Smith and CFO Josh Hirsberg lunched with Deutsche Bank‘s Carlo Santarelli, who found their mood bright and shiny. “Management remains confident that if current [Las Vegas] locals and regional gaming revenue trends hold firm, it can continue to … Continue reading
Posted in Boyd Gaming, Economy, Macau, Melco Crown Entertainment, Steve Wynn, Uncategorized, Wall Street
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Phil Ruffin, International Man of Mystery; Another day, another DFS probe
So now we know where those The Mirage-is-for-sale rumors were coming from. Seems that the place really was not for sale, although Phil Ruffin wished it was, to the tune of $1.3 billion. And, as badly as MGM Resorts International … Continue reading
Posted in Atlantic City, Donald Trump, GLPI, Internet gambling, Macau, MGM Mirage, Phil Ruffin, Politics, Regulation, Sports, Stanley Ho, The Strip, Wall Street
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SLS gets new patron; Mixed quarter at Caesars
Revolving doors continue to spin, metaphorically, at SLS Las Vegas. No sooner had Hilton Worldwide dropped the property from its Curio brand but Starwood Resorts Worldwide picked up part of the property and slapped its W hotel escutcheon on it. The … Continue reading
Posted in Harrah's, International, Macau, Marketing, Maryland, Regulation, Sam Nazarian, SLS Las Vegas, Station Casinos, Technology, The Strip
1 Comment
New blows to Adelson, SLS; Seminoles’ air war
Ex-Sands China CEO Steven Jacobs‘ wrongful-termination case will still proceed under the gavel of Judge Elizabeth Gonzalez. The Nevada Supreme Court, in an unpublished opinion, reaffirmed Gonzalez’s standing in the case and also ordered Las Vegas Sands to pony up … Continue reading
Posted in Florida, Indiana, Internet gambling, Macau, Politics, Regulation, Sam Nazarian, Seminole Tribe, Sheldon Adelson, SLS Las Vegas, Taxes, The Strip, TV
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Quote of the Day
“There’s no arguing with City Hall. There’s no arguing with the government. There’s only begging and lobbying and more begging.” — Melco Crown Entertainment Co-Chairman Lawrence Ho on doing business in Macao.
Posted in Lawrence Ho, Macau, Melco Crown Entertainment, Regulation
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Quote of the Day
“With hotel occupancies continuing to decline … we don’t think there are many left who subscribe to the if you build it they will come mantra as it pertains to Macau these days.” — Deutsche Bank analyst Carlo Santarelli‘s comment on … Continue reading
Posted in Economy, Macau, Wall Street
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Caesars loses Ohio; Parking fees on the Strip?
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
Quote of the Day
“If you go back to January 1 this year, everyone was still hopeful for a quick recovery and the fact the gaming industry was like this bulletproof industry – the idea you could throw grenades at it and it was … Continue reading
Posted in Lawrence Ho, Macau, Melco Crown Entertainment, Regulation
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MGM: The Murren roars
In one of the year’s least surprising surprises, MGM Resorts International announced that it is spinning 10 of its casinos off into a REIT and is in a hurry to do so, expecting the transaction to close in the first … Continue reading
Posted in CityCenter, Illinois, Macau, Maryland, Massachusetts, MGM Mirage, Mississippi, Station Casinos, Wall Street
1 Comment
Quote of the Day
“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
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