Category Archives: Macau

The Macanese squeeze

Posted on August 5, 2014 by David McKee

“Everyone has got dealers and waitresses and cooks and housekeeping and we all got them from the same place … what do you think is going to happen 18 months from now? Exactly the same thing.” That’s the sound of … Continue reading →

Posted in Architecture, Current, Macau, Regulation, Sheldon Adelson, Steve Wynn, Tribal, Wisconsin | Comments Off

MGM beats the Street; The wrath of Loveman

Posted on August 5, 2014 by David McKee

Not only did MGM Resorts International swing from a loss to a profit in 2Q14, its revenues exceeded Wall Street’s expectations. Analyst consensus foresaw $0.10/share in earnings and MGM delivered more than twice that. Revenues at every MGM property were … Continue reading →

Posted in Architecture, CityCenter, Current, Detroit, Harrah's, Illinois, Macau, Maryland, Mississippi, Neil Bluhm, The Strip, Wall Street | 1 Comment

Packer returns

Posted on August 4, 2014 by David McKee

James Packer is back. Undoubtedly encouraged by the recent groundswell of development on the Las Vegas Strip, he’s bought the New Frontier site for a casino development that will be underwritten by the Oaktree Capital Management hedge fund. Construction is to … Continue reading →

Posted in Atlantic City, Australia, Cosmopolitan, Fontainebleau, Harrah's, International, James Packer, Japan, Macau, Revel, Steve Wynn, Taxes, The Strip, Trump Entertainment Resorts, Wall Street | Comments Off

Clouds over Macao

Posted on July 30, 2014 by David McKee

Forbes‘ Muhammad Cohen has been reading the latest tea leaves from the world’s gambling capital and doesn’t like what he sees: a 1H14 revenue increase of 13% (“heady for anywhere but Macau“) but a sequential decline from 1Q to 2Q14 … Continue reading →

Posted in Delaware, Economy, Macau, Melco Crown Entertainment, Racinos, Singapore, Taxes, Wall Street | Comments Off

Wynn: Most happy fella

Posted on July 30, 2014 by David McKee

We’ve gotten to inured to headlines that say such-and-such a quarter was “rescued by Macao” that I did a double-take today. The lead item on a newsletter was “Wynn Resorts Q2 results boosted by Las Vegas.” It’s nice that the … Continue reading →

Posted in Bally Technologies, IGT, International, Internet gambling, Macau, Scientific Games, Sheldon Adelson, Sports, Steve Wynn, The Strip, Wall Street | Comments Off

Penny pinchers; Tribal warfare in New Mexico; Who’s tops in Macao?

Posted on July 24, 2014 by David McKee

Although the hold on penny slots in Illinois casinos is grotesquely higher than that for quarter slots/video poker, the imaginary value of penny machines makes them by far the most popular genre in the state. Punters dropped $41 million into … Continue reading →

Posted in Election, Illinois, Macau, Melco Crown Entertainment, MGM Mirage, Neil Bluhm, Penn National, Sheldon Adelson, Stanley Ho, Steve Wynn, Technology, Tribal | 1 Comment

Adelson goes soft on Communism; Wynn befriends oysters

Posted on July 23, 2014 by David McKee

Sheldon Adelson may play the tough guy at home but he’s a pushover in Macao. Rather than anger his Communist overlords, Adelson apologized for a labor march that just so happened to be held outside Venetian Macao. The protest was … Continue reading →

Posted in Environment, Harrah's, Macau, Massachusetts, Regulation, Sheldon Adelson, Steve Wynn | 1 Comment

Thinking the unthinkable

Posted on July 21, 2014 by David McKee

Could Nevada casino floors go genuinely smoke-free? That’s the idea floated by Deutsche Bank analyst Andrew Zarnett. Although Nevada voters have exempted casino floors from smoking bans, Zarnett thinks that state of affairs could change by 2016 or so, at … Continue reading →

Posted in Delaware, Economy, Environment, Florida, Illinois, Macau, Mississippi, Sheldon Adelson, The Strip, Transportation | 2 Comments

Paradox at Sands

Posted on July 17, 2014 by David McKee

Only in Macao could Sheldon Adelson report a 27% increase in profit and have it be called disappointing. For the first time in four years, Macanese action dropped last month, down 4%. Dollars to doughnuts, those missing patacas will turn … Continue reading →

Posted in Macau, MGM Mirage, Sheldon Adelson, Singapore, Sports, The Strip, Wall Street | Comments Off

The perils of Penn

Posted on July 15, 2014 by David McKee

Argosy Sioux City continues to lurch from crisis to crisis. In the latest twist, Judge Elizabeth Ovrom gave with one hand but took away with the other. In order that the casino can appeal its closure order from the Iowa … Continue reading →

Posted in Charity, Iowa, Macau, MGM Mirage, Penn National, Regulation, Sheldon Adelson | Comments Off

Japan, land of opportunity

Posted on July 14, 2014 by David McKee

“I think it’s a less likely fit for us, because it’s not clear what the complementary set of skills would be in their case,” said Caesars Entertainment CEO Gary Loveman of gray-market pachinko parlors. That being the case, he might … Continue reading →

Posted in Harrah's, Japan, Macau, MGM Mirage, Regulation, Sheldon Adelson | Comments Off

Steve Wynn’s right-hand woman

Posted on July 10, 2014 by David McKee

Considered by many the logical successor to Steve Wynn, his envoy to Macao, Linda Chen, is more spoken of than seen. CNN offers us a rare glimpse of the woman who may well be calling the shots at Wynn Resorts … Continue reading →

Posted in Atlantic City, Harrah's, Macau, Mississippi, Penn National, Regulation, Reno, Steve Wynn, Tilman Fertitta, Transportation | 1 Comment

For sale: One casino, slightly used

Posted on July 9, 2014 by David McKee

Having walked into a PR buzzsaw with its announced closure of the Showboat, in Atlantic City, owner Caesars Entertainment is trying to salve the wound. “We’re willing to sell if we receive a reasonable offer from a responsible buyer,” said company … Continue reading →

Posted in Atlantic City, Hard Rock International, Harrah's, Macau, New York, Revel, Tourism, Transportation | 1 Comment

Sticky moment in Macao; Debt? What debt?

Posted on June 26, 2014 by David McKee

Macao continues to be a large blessing and a small curse upon the U.S. casino industry. Earlier this month, the Internal Revenue Service acknowledged ramped-up scrutiny of the enclave, where money laundering is a persistent fear — especially in Washington, … Continue reading →

Posted in Harrah's, Japan, Macau, Regulation, Sheldon Adelson, Wall Street | Comments Off

Massachusetts: The morning after

Posted on June 25, 2014 by David McKee

Although Wynn Resorts is keeping mum on this week’s Massachusetts Supreme Judicial Court ruling, others are not taking it lying down. Faced with a do-or-die referendum on casino gambling in the Bay State, MGM Resorts International promised it was “fully … Continue reading →

Posted in Atlantic City, Election, Geoff Freeman, Harrah's, Internet gambling, Macau, Massachusetts, MGM Mirage, Mohegan Sun, Penn National, PokerStars, Politics, Regulation, Sports, Steve Wynn | Comments Off

Quote of the Day

Posted on June 11, 2014 by David McKee

“Any hint of bad news from Macau requires the use of defibrillators in casino company boardrooms and investment houses.” — Howard Stutz, on the prospect of a slowdown in Macao’s casino revenues this year.

Posted in Economy, Macau, Wall Street | Comments Off

Indiana struggles, Ohio flourishes

Posted on June 10, 2014 by David McKee

Customers visited 8% in Indiana and spent 4% less. There were some salutary results. Pinnacle Entertainment‘s Ameristar East Chicago was up 2% and Boyd Gaming‘s Blue Chip saw revenues rise 3%. It was a big month for the racinos, with … Continue reading →

Posted in Ameristar, Boyd Gaming, Dining, Harrah's, Macau, Maryland, MTR Gaming, Ohio, Penn National, Pinnacle Entertainment, Racinos, Regulation, Scientific Games, Shuffle Master, Tropicana Entertainment, Wall Street | Comments Off

May in Macao; Brave new slots

Posted on June 5, 2014 by David McKee

Given “softer than expected” numbers out of Macao, expect Wall Street analysts to dial down their expectations for the balance of the year. Gaming revenues rose ‘only’ 9% instead of the expected double digits and there was a surprise leader … Continue reading →

Posted in Bally Technologies, Boulder Strip, Macau, Melco Crown Entertainment, MGM Mirage, Regulation, Sheldon Adelson, Stanley Ho, Station Casinos, Steve Wynn, Technology, Wall Street | Comments Off

Adelson vs. Loveman: Splitting the difference

Posted on May 30, 2014 by David McKee

“One of the things I’ve learned in this industry is we are extraordinarily competent at shooting at one another.” So said American Gaming Association President Geoff Freeman after getting caught in the crossfire over Internet gambling. So, as the industry … Continue reading →

Posted in Geoff Freeman, Hard Rock Hotel, Harrah's, Internet gambling, Macau, Politics, Sheldon Adelson, Technology, The Strip, Warner Gaming, World Series of Poker | 1 Comment

Gunga Geoff; Massachusetts split

Posted on May 21, 2014 by David McKee

Some casino industry bigwigs continue to view Macao as a Chinese-flavored version of Las Vegas, an industry fallacy you would think had been outgrown. Take American Gaming Association President Geoff Freeman, who told a Macanese audience that their city needs … Continue reading →

Posted in Election, Entertainment, Geoff Freeman, Macau, Massachusetts, Regulation, The Strip | Comments Off