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Category Archives: Macau
Macao casinos squeezed again; Isle’s clean sweep
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
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Station is back; MGM’s praises sung
When the Great Recession struck, no company was more ill-positioned to weather it than Station Casinos. A few tribal contracts aside, all of Station’s eggs were in the Las Vegas basket. To put it another way, Vegas may have gotten … Continue reading
Posted in California, Detroit, Economy, Hard Rock International, Macau, MGM Mirage, Mississippi, Riviera, Station Casinos, The Strip, Tribal, Wall Street, Wisconsin
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We’re Number One; Adelson goes Disney
Las Vegas is officially the epicenter of the nightclub universe. Seven of the 10 top-grossing clubs in Nightclub & Bar‘s 2014 survey are on the Las Vegas Strip. The honor roll is topped by XS Nightclub, followed by Hakkasan, Marquee … Continue reading
Posted in Cosmopolitan, Economy, Entertainment, Harrah's, Macau, MGM Mirage, Palms, Sheldon Adelson, Steve Wynn, Technology
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Straub’s time runs short; Smoke gets in Macao’s eyes
Glenn Straub may be $10 million the poorer after yet another deal for Revel has come apart at the seams. Straub wanted to expunge any obligations to Revel tenants. Federal courts would not let him. And, upon that impasse, the … Continue reading
Posted in Architecture, Atlantic City, Downtown, Economy, Environment, George Maloof, Hard Rock International, Harrah's, history, Macau, Revel, Steve Wynn
1 Comment
One man’s toxic waste …
… is Steve Wynn‘s treasure. Reader thsully1 has supplied us with these photos of Wynn’s casino site in Everett. Mentally superimpose Wynn Las Vegas and decide if you’d like to go there or not. “The site is sandwiched in between … Continue reading
Posted in Australia, Foxwoods, Macau, Massachusetts, Melco Crown Entertainment, MGM Mirage, Mohegan Sun, Neil Bluhm, Philippines, Sheldon Adelson, South Korea, Stanley Ho, Steve Wynn
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Weak quarter for Las Vegas Sands; Penn weathers a blow
There was definitely some grit in the 4Q14 financial results for Las Vegas Sands‘ Strip properties. Table play was down $102 million, or 16%. And those players who showed up played lucky. Table revenue was down 26%, or $37 million. … Continue reading
Posted in California, Election, Harrah's, Indiana, Japan, Macau, Massachusetts, MGM Mirage, Penn National, Racinos, Sheldon Adelson, Singapore, The Strip, Tribal, Wall Street, West Virginia
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Where will the Caesars fight be fought?
In the battle between Caesars Entertainment and its dissident creditors, the opening route — the choice of venue — may be the decisive one. As noted previously, Caesars wants the case heard in Chicago and not in Wilmington, even though … Continue reading
Posted in Delaware, Economy, Harrah's, Illinois, Macau, Massachusetts, MGM Mirage, Sports, The Strip, Wall Street
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Possible Pennsylvania cutback?; Prudes pressured Walker
Once casinos move to fill a vacuum, it’s difficult to push them back. But that’s what Pennsylvania state Rep. Will Talman (R) is trying to do. He’s proposing a bill to close Keystone State casinos nightly between 2 a.m. and … Continue reading
Posted in International, Iowa, Macau, Pennsylvania, Politics, Regulation, Sheldon Adelson, Slot routes, Tribal, Wisconsin
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Adelson gives himself promotion; Making Macao family friendly
With Edward Tracy retiring and Rob Goldstein only undertaking the presidency of Sands China on an interim basis, Sheldon Adelson has named himself CEO of Sands China in addition to Las Vegas Sands. This is viewed as a positive move, … Continue reading
Posted in Architecture, Economy, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Sheldon Adelson, Singapore, Steve Wynn
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Sands scores in Pennsylvania; More nonsense from Trump
Pennsylvania isn’t anywhere near done with building casinos but it is feeling market saturation. A $40 million decline in slot winnings pushed casinos to sub-2013 levels. The proliferation of casino product did not help. “When I came here six years ago, there were … Continue reading
Posted in Cantor Gaming, Donald Trump, Macau, Massachusetts, Michael Gaughan, Pennsylvania, Regulation, Sheldon Adelson, Sports, Steve Wynn, TV
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Start making sense; Walker dodges a bullet
“Indianapolis is making it impossible to run cities,” complains Hammond Mayor Thomas McDermott Jr., who’s nettled by a proposal to eliminate the $3 admission fees Indiana casinos pay on behalf of their customers. The port authority of Hammond is run … Continue reading
New Yorkers want a do-over; Another EuroVegas folds
Magnanimously, Traditions at the Glen partner — and losing casino bidder — Peter Walsh is throwing his support to racino mogul Jeff Gural. The latter is trying to pry New York‘s fourth and last new-casino license loose from New York State’s … Continue reading
Posted in California, Delaware, Economy, Genting, Hard Rock International, Harrah's, International, Internet gambling, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, New York, Pennsylvania, Philippines, Politics, Racinos, Tribal, Wall Street
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Macao: Pressure for change; Stanley Ho into South Korea?
Despite having only one-tenth as many hotel rooms as Las Vegas, the enclave of Macao is feeling the pressure to develop a more tourism-oriented business model. China’s president, Xi Jinping visited Macao last weekend and dropped a few strong hints. … Continue reading
Posted in Cirque du Soleil, Harrah's, International, Macau, Marketing, New York, Politics, Sheldon Adelson, South Korea, Stanley Ho, Tourism
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Taj at Icahn’s mercy; The wrath of Wynn
Trump Entertainment Resorts CEO Bob Griffin (below) has basically flung himself at the feet of Carl Icahn and begged the billionaire to keep funding Trump Taj Mahal “well into 2015,” while Unite-Here‘s appeal of a bankruptcy court ruling is adjudicated, maybe … Continue reading
Posted in Atlantic City, Carl Icahn, Columbia Sussex, Entertainment, Harrah's, Macau, MGM Mirage, Mohegan Sun, Morgans Hotel Group, Steve Wynn, The Strip, Tilman Fertitta, Trump Entertainment Resorts
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Et tu, Harry?
Internet gambling dodged a bullet when the federal government’s omnibus spending bill was sent to the floor without Restoring America’s Wire Act tacked on like a flea riding a dog. “If we can’t get it into the omnibus, it won’t be … Continue reading
Posted in Economy, Harrah's, Harry Reid, Internet gambling, Macau, MGM Mirage, Politics, Sheldon Adelson, Shuffle Master, Taxes
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Stale thinking in Atlantic City; Big trouble in little Macao
New Jersey lawmakers, evidently oblivious to the recent spate of casino closings, have decided that what Atlantic City needs is more and smaller casinos, even though the pitfalls of a casino-based economy have been amply demonstrated. They’re dusting off 2011’s dud … Continue reading
Posted in Atlantic City, Economy, Glenn Straub, Hard Rock International, Macau, Regulation, Revel
1 Comment
The war on Dotty’s; Ultimatum in Macao
In the wake of the Dotty’s brouhaha, I find myself wondering how this got to be such a big issue. After all, Nevada Restaurant Services had been buying up defunct bars and store fronts by the score and converting them … Continue reading
Posted in California, Dotty's, Economy, Internet gambling, Macau, PokerStars, Regulation, Station Casinos, Tribal
1 Comment
Cokehead gets Nevada casino license; Cosmo sale near
Goodwill generated by the opening of SLS Las Vegas just went up Sam Nazarian‘s nose. The Los Angeles nightclub operator admitted to doing cocaine last April while living it up in Mexico. This is the kind of revelation casino pundits … Continue reading
Posted in Cosmopolitan, Harrah's, history, Macau, Regulation, Sam Nazarian, Sheldon Adelson, Steve Wynn, The Strip
1 Comment
Chronicle of a bankruptcy, foretold
Dipping into Shakespeare, Howard Stutz endeavors to do justice to the Elizabethan complexity of the Caesars Entertainment bankruptcy. The fault is not in the stars but in Gary Loveman, architect of the disaster. When it was rolled out, back in … Continue reading
Good news from the Boardwalk; Leven leaves
Rid of the Atlantic Club Hotel, Showboat, Trump Plaza and Revel, cash flow at Atlantic City casinos shot upward 7%, or $147.5 million. Once that unhappy quartet is removed from the year-over-year comparison, the percentage increase falls to 3% but … Continue reading
Posted in Carl Icahn, Cirque du Soleil, Colony Capital, Harrah's, Macau, Massachusetts, MGM Mirage, Mohegan Sun, Regulation, Revel, Sheldon Adelson, Steve Wynn, The Strip, Tilman Fertitta, Trump Entertainment Resorts, Wall Street
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