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Category Archives: Macau
Murren talks smack re: Wynn, Schaeffer
"No one has proven, by the way, that they can operate properties better than us, so …uh … and there's a mountain of information to show that we operate properties better than anybody. Everything that we've acquired is making more … Continue reading
Posted in Detroit, Macau, MGM Mirage, Steve Wynn, The Strip
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Exit, pursued by a bear market
Aside from the occasional murmur by Wynn Las Vegas prexy Andrew Pascal, executives at Wynn Resorts keep a low (read: invisible) profile. Even the most assiduous follower of the casino industry would have trouble naming Wynn’s CFO off the cuff. … Continue reading
Posted in Atlantic City, Boyd Gaming, Economy, Encore, Harrah's, IGT, Illinois, Macau, MGM Mirage, Pinnacle Entertainment, Sheldon Adelson, Steve Wynn, The Strip, Wall Street
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Icahn vs. Kerkorian II; Ho hearts Adelson
Yesterday saw some intemperate spluttering in newspaper comment threads, along the lines “How dare the Wall Street Journal report the news? It might damage stock prices!” (One hothead even bruited the possibility of a libel suit.) All of which was … Continue reading
Posted in Carl Icahn, Economy, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Sheldon Adelson, Stanley Ho, Steve Wynn, Wall Street
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MGM Mirage sells family jewels
Desperation has well and truly hit the fan at MGM Mirage. The company’s Strip casinos may not be priced to move … but it’s said to be quite a different story where MGM Grand Detroit and Beau Rivage are concerned. … Continue reading
Posted in Atlantic City, Colony Capital, Current, Detroit, Economy, Illinois, James Packer, Macau, MGM Mirage, Phil Ruffin, Sheldon Adelson, Stanley Ho, The Strip, Wall Street
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Adelson in the details
Nearly lost amidst a flurry of news stories about Las Vegas Sands hoping to jump-start construction on its stalled Cotai Strip™ (with the help of new equity partners) was this snippet from Sands' president of Asian affairs, Stephen Weaver. Rents … Continue reading
Posted in Atlantic City, Carl Icahn, Columbia Sussex, Macau, Regulation, Sheldon Adelson, Singapore, Wall Street
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Harrah's enjoys bailout
“Critics argue that the tax-law change rewards companies that took on too much leverage during the credit bubble, such as those that were bought by private-equity firms.” Sound like anybody we know? How about Harrah’s Entertainment, which played Russian roulette … Continue reading
Posted in Colony Capital, Economy, Harrah's, James Packer, Macau, Melco Crown Entertainment, MGM Mirage, Politics, Sheldon Adelson, Station Casinos, Taxes, Wall Street
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Cannery sale on ice?
Nevada Gaming Control Board Chairman Dennis Neilander was kind enough to ring up pesky old NGCB detractor S&G today and provide some clarification on why Crown Ltd. and its supremo, James Packer, passed muster in the Silver State but have … Continue reading
Posted in Australia, Boulder Strip, Cannery Casino Resorts, James Packer, Macau, Melco Crown Entertainment, Pennsylvania, Regulation
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Packer steps in it again
Now aren’t you glad that the Nevada Gaming Control Board and Gaming Commission were so quick to give James Packer the green light to own Cannery Casino Resorts? Not only is he facing an unfolding scandal in Australia, two casinos … Continue reading
Posted in Australia, Cannery Casino Resorts, Macau, Melco Crown Entertainment, Regulation
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Stanley Ho's comeback
Citing the Lusa news agency, J.P. Morgan says that Macao casino revenues for January came in higher than expected, at $1.1 billion. The shocker, though, is the revision of market-share figures, which previously had shown Stanley Ho and Sheldon Adelson … Continue reading
Posted in Australia, James Packer, Macau, Melco Crown Entertainment, MGM Mirage, Penn National, Politics, Sheldon Adelson, Singapore, Stanley Ho, Steve Wynn, The Mob
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The prodigal son
Poor Kerry Packer; the late Australian mogul and famous high roller must be doing all his rolling in the grave now. Reputed for being daring at baccarat and cautious in business, the media baron is at least spared the indignity … Continue reading
Posted in Aristocrat, Boulder Strip, Cannery Casino Resorts, Cosmopolitan, Economy, Fontainebleau, International, James Packer, Macau, Melco Crown Entertainment, Pennsylvania, Singapore, Station Casinos, Steve Wynn, The Strip
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Case Bets: CityCenter, Detroit, Boyd in Indiana
CityCenter: Cash cow or calf of gold? It’s received wisdom that, in its worship of the Golden Calf known as CityCenter, half-owner MGM Mirage is prepared to sacrifice some of its high-value properties, including MGM Grand Detroit, even in the … Continue reading
Posted in Boyd Gaming, Economy, G2E, Indiana, Kansas, Macau, Marketing, MGM Mirage, Station Casinos, The Strip, Tribal, Wall Street
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'Gang' at Encore
Yesterday saw an unusual — but altogether pleasant — change in the Vegas Gang routine, as we taped “on location” from a seventh-floor room in Encore, overlooking Echelon and the increasingly ominous Fontainebleau (so disproportionately massive it looms over its … Continue reading
Posted in Architecture, Cloverfield monster, Current, Detroit, Fontainebleau, Harrah's, Illinois, Macau, MGM Mirage, Mississippi, Phil Ruffin, Stanley Ho, Steve Wynn, The Strip
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'Gang' at Encore
Yesterday saw an unusual — but altogether pleasant — change in the Vegas Gang routine, as we taped "on location" from a seventh-floor room in Encore, overlooking Echelon and the increasingly ominous Fontainebleau (so disproportionately massive it looms over its … Continue reading
Posted in Architecture, Cloverfield monster, Current, Detroit, Fontainebleau, Harrah's, Illinois, Macau, MGM Mirage, Mississippi, Phil Ruffin, Stanley Ho, Steve Wynn, The Strip
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Deep Red: Encore
As much as casino-watchers have been vexed by the total media clampdown on all but the smallest scintillae of revelation about Steve Wynn‘s Encore, it was worth the wait. Or, to put it differently, Aria and Fontainebleau have just been … Continue reading
Posted in Architecture, Cirque du Soleil, Cloverfield monster, Current, Dining, Economy, Encore, Fontainebleau, Harrah's, Macau, MGM Mirage, Planet Hollywood, Sheldon Adelson, Steve Wynn, The Strip
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Right from the beginning
Time Magazine, no less, has designated the LBO of Harrah’s Entertainment by Texas Pacific Group and Apollo (Mis)Management the third-worst business deal of 2008. Harrah’s CEO Gary Loveman sought out this deal — and these particular buyers — out at … Continue reading
Posted in Cirque du Soleil, Harrah's, International, Macau, MGM Mirage, Wall Street
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Case Bets: Stanley Ho in Vegas?, HRH grows but Morgans shrinks
A local columnist raises the spectre of Stanley Ho getting back-door access into Las Vegas via James Packer‘s acquisition of Cannery Resorts. This isn’t the first time I’ve heard this question raised and, call me complacent, but I believe it … Continue reading
Posted in Boyd Gaming, Cannery Casino Resorts, Colony Capital, Columbia Sussex, Cosmopolitan, Economy, Harrah's, Herbst Gaming, Isle of Capri, James Packer, Macau, MGM Mirage, Morgans Hotel Group, Stanley Ho, Station Casinos, The Strip, Tropicana Entertainment, Wall Street
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