Category Archives: Macau

Freeman defeated; Caesars renders unto Maryland

Posted on May 21, 2014 by David McKee

In a stunning reversal — and a major victory for Sheldon Adelson — American Gaming Association President Geoff Freeman is ending the lobbying group’s support for Internet gambling. Freeman calls it “an issue that the association cannot lead on,” so the … Continue reading →

Posted in Economy, Geoff Freeman, Harrah's, Internet gambling, Macau, Maryland, Regulation, Sheldon Adelson, Steve Wynn, Taxes, Wall Street | Comments Off on Freeman defeated; Caesars renders unto Maryland

Happy anniversary for Adelson; Penn’s legal woes

Posted on May 13, 2014 by David McKee

Smashed entrance doors, overburdened and broken escalators, and 40,000 customers … it was all in a day’s work when Sands Macao opened — can it really be 10 years ago next week? Time flies when you’re Sheldon Adelson. Although Stanley … Continue reading →

Posted in Iowa, Japan, Macau, Massachusetts, Neil Bluhm, Penn National, Racinos, Regulation, Sheldon Adelson, Stanley Ho, Taxes | Comments Off on Happy anniversary for Adelson; Penn’s legal woes

A few minutes with Sheldon Adelson

Posted on May 9, 2014 by David McKee

On Internet gambling: On his fear of the Vegas High Roller: “They don’t care about Sheldon Adelson” COURTESY: Bloomberg News

Posted in Harrah's, International, Macau, Sheldon Adelson, Singapore, The Strip | Comments Off on A few minutes with Sheldon Adelson

Affleck banned from HRH; Sands Bethlehem reprieved

Posted on May 2, 2014 by David McKee

You can do all manner of despicable things in a casino if you’re a high roller … but count one lousy card and you’re toast, mister. That’s the message being sent by Warner Gaming after it banned Ben Affleck from … Continue reading →

Posted in Harrah's, Macau, Pennsylvania, Sheldon Adelson, Singapore, Technology, Trump Entertainment Resorts, Warner Gaming | 1 Comment

Wynn speaks … and speaks

Posted on May 2, 2014 by David McKee

With a dustup with George Clooney still making headlines and a quarterly reporting emerging, Steve Wynn could be expected to be in an expansive mood. He did not disappoint. Ironically, Wynn’s comments about people who “live in a very strange … Continue reading →

Posted in Architecture, CityCenter, Dining, Economy, Entertainment, International, Japan, Macau, Steve Wynn, Wall Street | 1 Comment

Quote of the Day

Posted on May 2, 2014 by David McKee

“A question of cannibalization in Macau is brushed aside as [Steve] Wynn relates the story of The Three Little Pigs to the industry. Naturally, Wynn Resorts has the casinos built of brick.” — Seeking Alpha, from a summary of the Wynn Resorts … Continue reading →

Posted in Macau, Steve Wynn | Comments Off on Quote of the Day

MGM blows away Wall Street expectations

Posted on April 29, 2014 by David McKee

Posting more than double Wall Street‘s consensus of earnings per share ($0.21 rather than $0.09), MGM Resorts International had a good quarter, to say the least. Even CityCenter exceeded expectations by 11%. J.P. Morgan analyst Joseph Greff took it all … Continue reading →

Posted in Animals, CityCenter, Colorado, Detroit, Downtown, Entertainment, Horseracing, Internet gambling, Iowa, Macau, Massachusetts, MGM Mirage, Regulation, Steve Wynn, The Strip, Wall Street | Comments Off on MGM blows away Wall Street expectations

Quote of the Day

Posted on April 28, 2014 by David McKee

“On several occasions the dispute has spilled over to the trade show floor, with LT Game, a unit of Hong Kong listed Paradise Entertainment, claiming its patent protection extends to exhibiting live dealer multi-game systems in Macau. At G2E Asia … Continue reading →

Posted in G2E, Japan, Macau, Shuffle Master, Technology | Comments Off on Quote of the Day

It’s good to be Sheldon Adelson

Posted on April 25, 2014 by David McKee

Posting a 21% increase in revenue, Las Vegas Sands reported 97 cents/share in earnings (Wall Street had expected $0.94). No surprise, Macao was the primary driver. Analysts were also pleased by a $810 million buyback of Sands shares, bolstering the … Continue reading →

Posted in Animals, Harrah's, Iowa, Macau, MGM Mirage, Pennsylvania, Racinos, Sheldon Adelson, Singapore, The Strip, Wall Street | Comments Off on It’s good to be Sheldon Adelson

Caesars: The day after

Posted on April 23, 2014 by David McKee

New York resort developers may be reeling from the sudden entry of Caesars Entertainment into the picture, but that doesn’t mean they’ve given up the fight. After all, Caesars’ move only impacts the Catskills region, not the Capital one nor … Continue reading →

Posted in Atlantic City, Boyd Gaming, Cordish Co., Foxwoods, Genting, Harrah's, Horseracing, International, Macau, Melco Crown Entertainment, MGM Mirage, New York, Penn National, Pennsylvania, Racinos, Sheldon Adelson | Comments Off on Caesars: The day after

The right amount of wrong ideas

Posted on April 22, 2014 by David McKee

When it comes to the U.S. gaming market, there’s nothing that can stand between James Packer and a bad investment, it seems, common sense least of all. According to Australian media reports, Deutsche Bank wants $1.5 billion-$2 billion for The … Continue reading →

Posted in Cosmopolitan, Dining, Entertainment, Fontainebleau, Harrah's, IGT, International, James Packer, Japan, Macau, Penn National, Pinnacle Entertainment, Station Casinos, The Strip, Wall Street | 1 Comment

Big names flock to New York; Reno rebounds

Posted on April 14, 2014 by David McKee

It’s starting to get seriously competitive in upstate New York, where Neil Bluhm‘s Rush Street Gaming has been seen canoodling with a Schenectady casino project. Others who have been circling the upstate market with interest include newcomers Churchill Downs and … Continue reading →

Posted in Churchill Downs, Economy, Hard Rock International, Harrah's, Macau, Neil Bluhm, New York, Ohio, Penn National, Reno, Sheldon Adelson, Station Casinos, Wall Street | Comments Off on Big names flock to New York; Reno rebounds

The son also rises; Tight squeeze in Macao

Posted on April 7, 2014 by David McKee

Add James Packer to the list of casino moguls with their eyes on Japan. He’s prepared to commit $5 billion to a resort project in the Land of the Rising Sun. Officials in South Korea, unlike their Japanese brethren, aren’t … Continue reading →

Posted in Atlantic City, Economy, Environment, Harrah's, Internet gambling, James Packer, Japan, Macau, Pennsylvania | Comments Off on The son also rises; Tight squeeze in Macao

In defense of Sheldon Adelson

Posted on April 4, 2014 by David McKee

A disclaimer: I tend to agree with Jeffrey Compton that Sheldon Adelson‘s “actions seem nothing but ego-driven overkill.” And by getting into bed with Bible Belt religious conservatives — to whom any form of gambling, not just on the Internet, … Continue reading →

Posted in Economy, history, Internet gambling, Iowa, Isle of Capri, Macau, Politics, Regulation, Sheldon Adelson, The Strip, Wall Street | Comments Off on In defense of Sheldon Adelson

Upside down at Cosmo; Casino beggars; Tribal casinos set new record

Posted on March 26, 2014 by David McKee

If a 3% ROI is your idea of a good return on a casino, have we got the place for you: The Cosmopolitan of Las Vegas. It continues to narrow losses and improved gambling revenues 25%. Last year, the Cosmo’s … Continue reading →

Posted in Alabama, California, Colorado, Cosmopolitan, Delaware, Dining, Entertainment, Harrah's, Kansas, Macau, New York, Oklahoma, Racinos, Singapore, Taxes, Texas, The Strip, Tourism, Tribal | 1 Comment

Jim Murren’s white flag; More slots in New England

Posted on March 21, 2014 by David McKee

In a moment of weakness upon which Sheldon Adelson is certain to pounce, MGM Resorts International CEO Jim Murren called for a cease-fire in the intra-industry war over Internet gambling. In addition to his day job, Murren is chairman of … Continue reading →

Posted in Geoff Freeman, Internet gambling, Macau, MGM Mirage, New York, Pennsylvania, Politics, Sheldon Adelson, Steve Wynn, Taxes | 1 Comment

Twin setbacks in Massachusetts

Posted on March 20, 2014 by David McKee

After all the tsuris that’s gone into bringing casinos to Massachusetts, it may be for naught. In two months, public support has gone from 53% to 46% (against 43% opposed), according to MassINC Polling Group. That means that, if casino … Continue reading →

Posted in Atlantic City, Culinary Union, Goldman Sachs, Macau, Massachusetts, Mohegan Sun, Penn National, Revel, Steve Wynn, The Strip | Comments Off on Twin setbacks in Massachusetts

Caesars’ big coup; Foxwoods site revealed

Posted on March 18, 2014 by David McKee

South Korea hasn’t opened its casino business to Western firms … until now. Caesars Entertainment, in partnernship with Hong Kong‘s Lippo Ltd. and OUE Ltd. from Singapore has won preliminary approval for a concession. The project is expected to cost … Continue reading →

Posted in Foxwoods, Genting, Hard Rock Hotel, Harrah's, International, Kentucky, Macau, Massachusetts, Mississippi, Politics, Warner Gaming | Comments Off on Caesars’ big coup; Foxwoods site revealed

Incest in Philadelphia and New Jersey

Posted on March 17, 2014 by David McKee

Pennsylvania‘s one-and-one-third rule for casino ownership is playing hob with applications for the state’s final casino license, in Philadelphia. For instance, frontrunner Market 8 would be one-quarter owned by the ubiquitous Ira Lubert, who already owns half of Valley Forge … Continue reading →

Posted in Atlantic City, Cordish Co., Don Barden, Greenwood Racing, Iowa, Macau, Mohegan Sun, Neil Bluhm, Penn National, Pennsylvania, Regulation, Revel, Sheldon Adelson, Tomato King Procacci, Tribal, Warner Gaming | Comments Off on Incest in Philadelphia and New Jersey

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 on Optimism around the industry