Category Archives: Maryland

East Coast Case Bets

Posted on April 8, 2014 by David McKee

Although talks have been conducted in deep secrecy, a few details of Seminole Tribe compact negotiations have been vouchsafed the public. The tribe is telling the state “don’t push us on this,” reminding it that the Bureau of Indian Affairs … Continue reading →

Posted in Cordish Co., Harrah's, Maryland, Massachusetts, MGM Mirage, Mohegan Sun, Penn National, Politics, Racinos, Taxes, Tropicana Entertainment | 1 Comment

Big trouble for Little Caesars

Posted on April 4, 2014 by David McKee

A second group of dissident debtors has shown up to spoil Caesars Entertainment‘s spinoff of high-value assets to Caesars Growth Properties (aka Little Caesars). The $2.2 billion purchase, incidentally, means that Little Caesars — which is majority owned by Big … Continue reading →

Posted in Harrah's, Maryland, Planet Hollywood, The Strip, Wall Street | Comments Off

Monkey wrench for MGM; Klondike on the brink; Cheater’s justice

Posted on April 1, 2014 by David McKee

Remember that fast track that MGM National Harbor was on? Yes, forget about it. Politicians in Prince George’s County want to codify it into legislation that MGM Resorts International meet certain benchmarks of local hiring and minority contracting. (The company’s excellent … Continue reading →

Posted in Alabama, Boulder Strip, Maryland, MGM Mirage, New York, Singapore | Comments Off

O little metropolis of Bethlehem; MGM on the move

Posted on March 31, 2014 by David McKee

Indiscriminate dissemination by Sands Bethlehem of $45 free-play slot cards is having some interesting effects on Bethlehem itself. It’s brought about an influx of largely Chinese-American players but not all are there to play. Some pay $15 for a round-trip … Continue reading →

Posted in Marketing, Maryland, Massachusetts, MGM Mirage, Mohegan Sun, Pennsylvania, Regulation, Sheldon Adelson, Steve Wynn, Taxes, Transportation | Comments Off

Case Bets: Sands, Atlantic City, Maryland, Isle of Capri, Churchill Downs, etc.

Posted on February 28, 2014 by David McKee

Las Vegas Sands lost more top executive talent when Sands Bethworks President Robert DeSalvio handed in his notice. He’ll be at the casino through mid-March but the move seems to have caught Sands off-guard. The latter assured reporters that DeSalvio’s … Continue reading →

Posted in Atlantic City, Churchill Downs, Cordish Co., Foxwoods, Harrah's, Horseracing, Illinois, International, Isle of Capri, Kentucky, Louisiana, Maryland, Pennsylvania, Sheldon Adelson, Tilman Fertitta, Wall Street | 1 Comment

Stupid player tricks & other Case Bets

Posted on February 26, 2014 by David McKee

What do you do if the cops try to bust you for having $115K in phony casino chips (allegedly)? Throw them in the nearest body of water, naturally. “Fortunately for police, the chips floated.” Vuong Q. Truong and wife Rosa A. Nguyen supposedly … Continue reading →

Posted in Cordish Co., Cretins, Current, Japan, Lawrence Ho, Macau, Maryland, Melco Crown Entertainment, Mississippi, Penn National, Sheldon Adelson, Stanley Ho | Comments Off

Nugget strikes gold; Hailing Caesars

Posted on February 25, 2014 by David McKee

One casino’s misery is another’s good fortune. The Golden Nugget in Atlantic City says it’s being swamped with new business ever since Caesars Entertainment and Tropicana Entertainment conspired to the euthanize the Atlantic Club. According to General Manager Tom Pohlman, … Continue reading →

Posted in Architecture, Atlantic City, Cordish Co., Delaware, Downtown, Economy, Harrah's, Internet gambling, Maryland, MGM Mirage, Taxes, The Strip, Tilman Fertitta, Tropicana Entertainment | 1 Comment

Across the Pacific

Posted on February 25, 2014 by David McKee

Rash or merely aggressive? That’s the question now that MGM Resorts International CEO Jim Murren has vowed to match Las Vegas Sands‘ Japanese investments dollar for dollar — as much as $10 billion. “We will overinvest early on to ensure, … Continue reading →

Posted in Harrah's, history, Japan, Macau, Maryland, MGM Mirage, Ohio, Sheldon Adelson, Steve Wynn, Wall Street | Comments Off

Wild, wild East

Posted on February 24, 2014 by David McKee

In the absence of a strong regulatory apparatus, Maryland Live, at Arundel Mills, is taking matters into its own hands. A 200-strong security force and a Batcave of surveillance technology search for the slightest nuance of untoward conduct. “A number of … Continue reading →

Posted in Atlantic City, Cordish Co., Economy, Japan, Maryland, Sheldon Adelson, Technology | Comments Off

Hey, big spenders

Posted on February 21, 2014 by David McKee

MGM Resorts International has only just handing in its plans for National Harbor, near Washington, D.C., and already the tin cups are rattling. The project doesn’t sound half-fancy: “a 300-suite glass-tower hotel, 3,600 slot machines, 140 gaming tables, a concert … Continue reading →

Posted in Economy, Maryland, Massachusetts, MGM Mirage, Regulation | Comments Off

MGM impresses Wall Street

Posted on February 19, 2014 by David McKee

MGM Resorts International didn’t meet Wall Street‘s consensus for the last quarter of 2013, losing eight cents a share instead of earning $0.07 EPS. But analysts were in a forgiving mood. After all, the company had lost $2.50 a share just … Continue reading →

Posted in Atlantic City, CityCenter, Economy, Japan, Maryland, Massachusetts, MGM Mirage, The Strip, Wall Street | Comments Off

Pinnacle beats The Street; MGM goes electric

Posted on February 12, 2014 by David McKee

Pinnacle Entertainment did a brilliant job of managing Wall Street‘s expectations, its cash flow coming in $5 million above analysts’ consensus, driven by lower operating expenses. J.P. Morgan‘s Joseph Greff called the results “better than feared,” which tells you how … Continue reading →

Posted in Ameristar, Environment, Foxwoods, International, Internet gambling, Maryland, Massachusetts, MGM Mirage, Missouri, Ohio, Pinnacle Entertainment, Transportation, Tribal, Wall Street | Comments Off

PR Wars: Caesars vs. Caesars

Posted on February 11, 2014 by David McKee

It’s restructuring time again at Caesars Entertainment, but which Caesars? According to a Bloomberg interview with RBC Capital Markets analyst John Kempf, subsidiary Caesars Entertainment Operating Co. would trade second-lien debt for cash (of which Caesars maintains it has plenty) … Continue reading →

Posted in Harrah's, Internet gambling, Maryland, Planet Hollywood, Revel, Wall Street | Comments Off

Foxwoods on the clock; Japan, land of opportunity

Posted on February 6, 2014 by David McKee

Foxwoods Massachusetts has most of what it needs: money, civic support, a name brand. But it doesn’t have a site. Foxwoods and Fall River have given themselves 30 days to remedy that, a tight timespan, further complicated by the likelihood … Continue reading →

Posted in Cordish Co., Foxwoods, Japan, Maryland, Massachusetts, Pennsylvania, Problem gambling | Comments Off

Penn, Parx fold in Maryland; Home rule in N.Y.?

Posted on February 5, 2014 by David McKee

In a rare moment of grace, Penn National Gaming agreed not to sue Prince George’s County over the award of a Maryland casino project to MGM Resorts International. (As expected, Greenwood Racing also signed away its prerogative to litigate.) Perhaps … Continue reading →

Posted in Cantor Gaming, Economy, Greenwood Racing, Macau, Maryland, MGM Mirage, New Hampshire, New York, Penn National, Problem gambling, Regulation, Sports | Comments Off

Bounty at Sands, Caesars

Posted on January 30, 2014 by David McKee

Yesterday wasn’t a bad day to be Las Vegas Sands, which reported a 19% increase in net revenues. Sands Cotai Central (up 61%) led the parade, which also prominently showcased Venetian Macao (+36%) and Venelazzo (up 25%, driven by a … Continue reading →

Posted in Culinary Union, Current, Harrah's, Macau, Maryland, Sheldon Adelson, Singapore, The Strip, Wall Street | Comments Off

Second chances for Caesars, Hard Rock

Posted on January 9, 2014 by David McKee

In a bit of good news for Caesars Entertainment, the government of South Korea is considering a relaxation of its casino-bidding rules. Specifically, the requirement of a BBB bond rating may be knocked down a bit — and bond ratings … Continue reading →

Posted in Harrah's, International, Iowa, Maryland, MGM Mirage, Penn National, Wall Street, Warner Gaming | Comments Off

Florida: Genting gets real; Boom in Maryland, frenzy in Delaware

Posted on January 8, 2014 by David McKee

Genting Group‘s Godzilla-sized proposal for a $3 billion resort on the Miami waterfront has gone into the shredder. Instead, the Malaysian developer hopes to go into partnership with Gulfstream Park. It would piggyback onto Gulfstream’s parimutuel license and Gulfstream’s purses … Continue reading →

Posted in Cordish Co., Economy, Genting, Maryland, New York, Penn National, Racinos | Comments Off

This won’t help A.C. and other case bets

Posted on January 6, 2014 by David McKee

Handle at Meadowlands Racetrack rose 32% (or $55 million) last year. That’s not what Atlantic City casinos need to hear at a time when they’re just trying to tread water. It’s bad enough that Caesars Entertainment and Tropicana Entertainment are … Continue reading →

Posted in Atlantic City, Cordish Co., Entertainment, Environment, Harrah's, Horseracing, Macau, Maryland, Mohegan Sun, Ohio, Penn National, Planet Hollywood, Tropicana Entertainment | Comments Off

Nevada finishing year strong; Christie’s choler

Posted on December 31, 2013 by David McKee

With a little help from one extra weekend day, Nevada gross gaming revenues shot upward 12% statewide in November and 23% on the Strip. Baccarat players lost their shirts, with the house winning 94% more than the previous year. Less … Continue reading →

Posted in Atlantic City, Boulder Strip, Cordish Co., Current, Downtown, Economy, Harrah's, Laughlin, Maryland, Massachusetts, MGM Mirage, North Las Vegas, Penn National, Regulation, Reno, Steve Wynn, The Strip, Tilman Fertitta, Trump Entertainment Resorts | 2 Comments