Category Archives: Massachusetts

Atlantic City casinos make less, profit more

Posted on November 24, 2015 by David McKee

In a paradoxical development, Atlantic City casinos reported a 61% increase in profitability in Q315. That largesse came even as gross gaming revenues only rose 5%. Cost-containment is credited with being the source of the bounty. Caesars Interactive swung from … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Dan Gilbert, Economy, Election, Glenn Straub, Harrah's, Indiana, International, Internet gambling, Massachusetts, MGM Mirage, Mohegan Sun, Ohio, Politics, Revel, Sheldon Adelson, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts | Comments Off

DFS sued again; Penn disappoints, MGM excels

Posted on November 24, 2015 by David McKee

A Florida attorney seems to have found the soft underbelly of the daily fantasy sports industry: its investors. Ervin Gonzales, representing two Sunshine State punters, has filed a class-action lawsuit that names among its defendants all the major sporting leagues, … Continue reading →

Posted in Florida, Internet gambling, Law enforcement, Massachusetts, MGM Mirage, Penn National, Regulation, Sports | Comments Off

The dark side of DFS; Wynn delay provokes caution

Posted on November 23, 2015 by David McKee

Daily fantasy sports backlash has claimed its first casualty. Relatively minor site TradeSports.com has gone out of business. “Recent negative events in the industry have already increased our costs of operating (and will most likely continue to do so); or perhaps … Continue reading →

Posted in Economy, Internet gambling, Macau, Massachusetts, Problem gambling, Regulation, Steve Wynn, Wall Street | Comments Off

Runaway costs in Springfield; Lucky Dragon not so lucky

Posted on November 20, 2015 by David McKee

MGM Springfield is turning into the worst of both worlds. Not only has the ‘wow’ factor been subtracted (“really the least interesting part of our project,” one exec contended), with the result that the casino-hotel looks more like a bank … Continue reading →

Posted in Architecture, California, Culinary Union, Downtown, Entertainment, Lucky Dragon, Massachusetts, MGM Mirage, Regulation, Taxes, Transportation | Comments Off

DFS: A patchwork of approaches

Posted on November 18, 2015 by David McKee

Although he’s been dissed by New Jersey Gov. Chris Christie (R) and the NCAA (because his bill would allow daily fantasy sports to include college athletes), state Sen. James Whelan (D, right) presses on in his attempt to regulate DFS … Continue reading →

Posted in Atlantic City, Geoff Freeman, Harry Reid, Internet gambling, Marketing, Massachusetts, New York, Pennsylvania, Politics, Regulation, Sports | Comments Off

Banks gun-shy on DFS; Aquinnah tribe suffers major defeat

Posted on November 16, 2015 by David McKee

Another day, another crisis for daily fantasy sports. This week, banks will be soul-searching, grappling with the question of whether to process DFS transactions or not. Market Watch polled some of the major financial institutions and found them taking a … Continue reading →

Posted in Internet gambling, Massachusetts, New York, Regulation, Tribal | Comments Off

Good news in Massachusetts for DFS and tribe

Posted on November 13, 2015 by David McKee

Home team DraftKings (headquartered in Boston) got a vote of confidence from Massachusetts Gov. Charlie Baker (R), who opined that daily fantasy sports is a game of skill, not of chance. Last weekend, Baker tried a little DraftKings wagering himself … Continue reading →

Posted in Architecture, Internet gambling, Massachusetts, MGM Mirage, Neil Bluhm, New York, Politics, Regulation, Tribal | Comments Off

Same old same-old at Trump; F-blew finally up for sale

Posted on November 12, 2015 by David McKee

Perhaps the biggest question surrounding Trump Taj Mahal is whether, when Carl Icahn takes over, the management team he has publicly upbraided will get to keep their jobs, especially since Uncle Carl has perfectly competent people taking care of business … Continue reading →

Posted in Atlantic City, Carl Icahn, Economy, Eldorado Resorts, Fontainebleau, Genting, Massachusetts, Penn National, The Strip, Trump Entertainment Resorts | 2 Comments

Quote of the Day

Posted on November 9, 2015 by David McKee

“I don’t think either one of them has been at their best on this one. But, you know, they’re big boys. They can do their own business.” — Massachusetts Gaming Commission Chairman Stephen Crosby on the feud between Steve Wynn … Continue reading →

Posted in Massachusetts, Steve Wynn | Comments Off

Bluhm thinks big in Massachusetts; Cautious optimism in Illinois

Posted on November 6, 2015 by David McKee

Never accuse Neil Bluhm of thinking small. His Mass Gaming & Entertainment has published some eye-popping projections as part of a 200-page casino application to the State of Massachusetts. Despite nearby competition from Plainridge and Rhode Island, Bluhm is projecting … Continue reading →

Posted in Architecture, Boyd Gaming, GLPI, Harrah's, Illinois, Internet gambling, Massachusetts, MGM Mirage, Neil Bluhm, Penn National, Politics, Regulation, Tribal | Comments Off

The (Nathan) Deal they can’t refuse; Decision time in Connecticut

Posted on November 3, 2015 by David McKee

Casino companies like to complain about high taxation … unless they’re trying to get into a jurisdiction, in which case they’ll agree to anything. In Georgia, they’ve upped the ante from a proposed 12% tax rate to 20%. It’s not … Continue reading →

Posted in Foxwoods, Georgia, Massachusetts, Mesquite, MGM Mirage, Mohegan Sun, Politics, Sheldon Adelson, Taxes, Tribal, Uncategorized | 2 Comments

Murren: Mission to Massachusetts

Posted on November 2, 2015 by David McKee

Hot on the heels of announcing a REIT conversion of MGM Resorts International and a boffo 3Q15, CEO Jim Murren sped out to Massachusetts to calm the waters in Springfield, where MGM’s serial reductions of its casino plan have stirred … Continue reading →

Posted in Architecture, Economy, Foxwoods, Internet gambling, Lake Tahoe, Massachusetts, MGM Mirage, Mohegan Sun, Regulation, Reno, Wall Street | Comments Off

MGM: The Murren roars

Posted on October 29, 2015 by David McKee

In one of the year’s least surprising surprises, MGM Resorts International announced that it is spinning 10 of its casinos off into a REIT and is in a hurry to do so, expecting the transaction to close in the first … Continue reading →

Posted in CityCenter, Illinois, Macau, Maryland, Massachusetts, MGM Mirage, Mississippi, Station Casinos, Wall Street | 1 Comment

Seminole resolution in sight?; Murren called on the carpet

Posted on October 27, 2015 by David McKee

Florida‘s Seminole Tribe is pursuing a two-track policy in the court of public opinion. On the one hand, it has announced “significant progress” in its talks with lawmakers and Gov. Rick Scott (R, left). On the other hand, it is … Continue reading →

Posted in Florida, Massachusetts, MGM Mirage, Mississippi, Pennsylvania, Politics, Racinos, Seminole Tribe, Taxes, Transportation, Tribal | Comments Off

Bad week for DFS

Posted on October 26, 2015 by David McKee

“What it’s doing is calling fantasy sports what it is. Do you pay money to get into the contest, and do you get money back when you win? And if so, that’s gambling.” So says South Point attorney Barry Leibermann of … Continue reading →

Posted in Atlantic City, California, Colorado, Delaware, Florida, Georgia, Illinois, Internet gambling, Kansas, Maryland, Massachusetts, Michael Gaughan, Mississippi, New York, Ohio, Politics, Technology | Comments Off

Texas lottery gives guv Grief; The Incredible Shrinking Casino

Posted on October 23, 2015 by David McKee

Those cowpokes who run the Texas Lottery Commission have gotten a bit off the ranch. Of a proverbial fact-finding mission to the Delaware lottery, Executive Director Gary Grief said, “We were particularly interested to learn about your sports betting, Internet wagering … Continue reading →

Posted in Delaware, Horseracing, International, Internet gambling, Massachusetts, MGM Mirage, Penn National, Racinos, Regulation, Texas | Comments Off

All’s well at Penn; Mulroy’s misdeed; Discomfort at Studio City

Posted on October 22, 2015 by David McKee

Penn National Gaming pleasantly surprised Wall Street, reporting third-quarter revenue of $739 million and $210 million in cash flow, exceeding projections by $8 million and $11 million, respectively. It paid out $109 million in rent to Gaming & Leisure Properties … Continue reading →

Posted in California, Economy, Galaxy Entertainment, GLPI, Illinois, Lawrence Ho, Macau, Marketing, Massachusetts, Melco Crown Entertainment, MGM Mirage, Missouri, Ohio, Penn National, Regulation, Sports, Steve Wynn, The Strip, Tribal, Wall Street | Comments Off

Macao rebukes Wynn

Posted on October 20, 2015 by David McKee

Steve Wynn‘s criticism of Macao governmental policy toward casinos as “outrageous and ridiculous … the single most counterintuitive and irrational decision that was ever made” went over like a lead balloon in China. Casino executives, including Wynn Macau President Gamal Aziz, … Continue reading →

Posted in Internet gambling, Macau, Massachusetts, Regulation, Sports, Steve Wynn, TV | Comments Off

DFS banned in Nevada

Posted on October 16, 2015 by David McKee

Well … not exactly, but the roof came crashing in for DraftKings, FanDuel and their ilk yesterday when the Nevada Gaming Commission sent them a cease-and-desist order, instructing that daily fantasy sports pools quit taking action from Nevada-based players until … Continue reading →

Posted in Foxwoods, Massachusetts, Mohegan Sun, Penn National, Regulation, Sports | Comments Off

Fantastic month for Atlantic City; Gural gets his wish

Posted on October 15, 2015 by David McKee

As the window for apples-to-oranges comparisons of Atlantic City casino revenue closes, so does the gap between same-store and outright gross-gaming revenues. In September, casinos were up 10% on a same-store basis (i.e., excluding the four closed ones from the … Continue reading →

Posted in Atlantic City, Boyd Gaming, Election, Harrah's, Internet gambling, Massachusetts, MGM Mirage, Mohegan Sun, New York, Penn National, PokerStars, Regulation, Rhode Island, Tilman Fertitta, Tourism, Tropicana Entertainment, Trump Entertainment Resorts | Comments Off