Category Archives: Massachusetts

Wynn’s albatross; Culinary gets wrist slapped

Posted on May 13, 2014 by David McKee

Steve Wynn‘s Everett casino project is getting pinned down by fire from several directions. Boston City Attorney Thomas Frongillo argues that a sale to Wynn Resorts by FBT Everett Realty LLC should be voided because the latter concealed an ownership stake … Continue reading →

Posted in Culinary Union, Environment, Harrah's, Indiana, Massachusetts, Mohegan Sun, Regulation, Steve Wynn | 2 Comments

Boston gets bounced; Packer K.O.’s Sri Lanka; Cohen’s good deed

Posted on May 9, 2014 by David McKee

It could all wind up in court, further prolonging Wynn Resorts‘ and Mohegan Sun‘s agony, but for now Boston is a surrounding community. The Massachusetts Gaming Commission unanimously struck down Mayor Martin J. Walsh‘s demand for host-community status. Wynn was … Continue reading →

Posted in Animals, California, International, James Packer, Massachusetts, Mohegan Sun, Regulation, Station Casinos, Steve Wynn, Tribal | Comments Off

Loveman’s latest dice throw; Delicate talks in Boston

Posted on May 7, 2014 by David McKee

In one of 2014’s least surprising stories, Caesars Entertainment has had to restructure debt. It will replace $1 billion in near-term indebtedness with $1.75 billion in longer-term notes. Bond analysts have been predicting this move for a long time, even … Continue reading →

Posted in Alex Yemenidjian, Harrah's, Massachusetts, Mohegan Sun, Slot routes, Steve Wynn, The Strip, Wall Street | Comments Off

Shadow boxing in Boston; Rejected again in New Hampshire

Posted on May 2, 2014 by David McKee

There’s been yet another delay — only a week — in Boston‘s quixotic pursuit of host-community status for Wynn Resorts‘ and Mohegan Sun‘s Hub-area projects. The Massachusetts Gaming Commission obliged Boston Mayor Martin J. Walsh with postponement on Beantown’s application … Continue reading →

Posted in Entertainment, Massachusetts, MGM Mirage, Mohegan Sun, New Hampshire, Regulation, Steve Wynn, Taxes, The Strip | Comments Off

Genting courts skeptics; Mohegan Sun wants a refund

Posted on April 29, 2014 by David McKee

Genting Group may be in for some rough sledding in its pursuit of a casino resort in Tuxedo, New York. Genting would demolish Tuxedo Ridge Ski Center and replace it with an extensive, Edwardian-style resort. Skiing would still be part … Continue reading →

Posted in Election, Genting, International, Lawrence Ho, Massachusetts, Mohegan Sun, New York | 2 Comments

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

Well, that’s the end of that; A win for Wynn

Posted on April 28, 2014 by David McKee

Caving to opposition forces, the government of Sri Lanka has reversed course and nixed casinos from three planned resorts. The most prominent was a $550 million Crown Resorts project. Now James Packer has to decide whether it’s worth the investment … Continue reading →

Posted in Dennis Gomes, Entertainment, International, James Packer, Massachusetts, MGM Mirage, Mohegan Sun, Regulation, Riviera, Steve Wynn, The Strip, Tilman Fertitta | Comments Off

Penn manages expectations

Posted on April 24, 2014 by David McKee

Penn National Gaming lowered estimates for cash flow and other metrics today, as well as releasing 1Q14 results that J.P. Morgan analyst Joseph Greff wrote were “generally in line with our … estimates.” According to Penn, player spending has been … Continue reading →

Posted in Atlantic City, Cordish Co., Cosmopolitan, Harrah's, Illinois, Indiana, Iowa, Massachusetts, Mississippi, New York, Penn National, Slot routes, Wall Street, West Virginia | Comments Off

New York embraces casinos; Wynn disses Clooney

Posted on April 24, 2014 by David McKee

Twenty-two. That’s how many applicants paid a $1 million application fee to vie for four casino licenses in upstate New York. That’s more than Massachusetts, far more than Kansas, neither of which matches the allure of the Empire State (to … Continue reading →

Posted in Foxwoods, Genting, Harrah's, Massachusetts, Mohegan Sun, New York, Penn National, Racinos, Steve Wynn | Comments Off

Look out, Macao, here comes Crimea

Posted on April 21, 2014 by David McKee

That’s the message from Crimea‘s puppet leader, Rustam Temirgaliyev, who claims that Crimea could outdo Monaco, Las Vegas and even Macao. (It is not recorded whether anyone laughed at his assertion.) “Our task is to create a tourist cluster, which will … Continue reading →

Posted in Entertainment, Greenwood Racing, Harrah's, International, Massachusetts, Mohegan Sun, North Las Vegas, Pennsylvania, Racinos, Regulation, Steve Wynn, Taxes | 1 Comment

Much ado about Massachusetts

Posted on April 18, 2014 by David McKee

Stephen Crosby, phlegmatic chairman of the Massachusetts Gaming Commission, makes a very unlikely looking lightning rod. But such he has become. He’s already drawn the wrath of Gary Loveman and now Boston Mayor Martin J. Walsh wants Crosby to recuse … Continue reading →

Posted in Architecture, Atlantic City, Boyd Gaming, Foxwoods, Harrah's, Massachusetts, MGM Mirage, Mohegan Sun, Neil Bluhm, New York, Racinos, Regulation, Steve Wynn, Technology, Tribal | Comments Off

MGM’s sudden change of heart

Posted on April 17, 2014 by David McKee

Well that’s torn it. MGM Resorts International has gone from being a shoo-in for a Massachusetts casino license to asking the state to delay its decision. That means Massachusetts is short some $200 million (including an $85 million licensing fee). … Continue reading →

Posted in Election, Massachusetts, MGM Mirage, Penn National, Politics | Comments Off

Wynn Boston: Solution or overreach?

Posted on April 16, 2014 by David McKee

Steve Wynn‘s attempts to buy a former Monsanto chemical plant in Everett have been stymied by the antics of the sleazy characters who own the land. First, there was convicted felon Charles Lightbody, whose hidden ownership had to vacated (saving … Continue reading →

Posted in Economy, Foxwoods, Iowa, Massachusetts, Mohegan Sun, New York, Penn National, Regulation, Steve Wynn | 1 Comment

NIMBY in Massachusetts; Hard Rock goes local

Posted on April 15, 2014 by David McKee

Anti-gambling forces in Massachusetts gained an ally yesterday when attorney general candidate Maura Healey (D) came out against casinos and for the repeal of their enabling legislation. This puts her at odds with Attorney General Martha Coakley (D), who holds … Continue reading →

Posted in Election, Golden Gaming, Hard Rock Hotel, Iowa, Marketing, Massachusetts, Penn National, Politics, Slot routes, Station Casinos, Technology, Warner Gaming | Comments Off

Code of silence; Fan dance in Schenectady

Posted on April 11, 2014 by David McKee

There’s no better way of convincing people you’ve got something to hide than acting like you’re hiding something. Meet Anthony Gattineri of FBT Everett Realty, who could deal a fatal blow to Steve Wynn‘s casino plans in Everett. Gattineri refuses to pledge … Continue reading →

Posted in International, Massachusetts, New York, Regulation, Steve Wynn | Comments Off

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

Penn tanks in Illinois, Bluhm ascends; The casino transfer that wasn’t

Posted on April 7, 2014 by David McKee

There were two clear winners in Illinois last month and one big loser — Penn National Gaming. Performing worse than expected, Penn had double-digit declines at all four of its casinos: Empress Joliet (-14%), Hollywood Aurora (-14%), Alton Belle (16%) … Continue reading →

Posted in Boyd Gaming, Dan Gilbert, Detroit, Harrah's, Horseracing, Lake Tahoe, Massachusetts, Neil Bluhm, Penn National, Regulation, Taxes | 1 Comment

Massachusetts: Hurry up and wait

Posted on April 4, 2014 by David McKee

That’s the message from the Massachusetts Gaming Commission, which has pushed its decision on the Everett and Revere casino proposals into August, to humor Boston Mayor Martin J. Walsh. The MGC will hold a May 1 meeting on Walsh’s attempt … Continue reading →

Posted in Florida, Internet gambling, Massachusetts, Mohegan Sun, Racinos, Regulation, Steve Wynn, Tribal | 1 Comment

Requiem for megaresorts?; Deferred deadline in Massachusetts

Posted on April 3, 2014 by David McKee

Is the megaresort era over? It had a pretty good run, from 1989 until the Great Recession. That’s a solid two decades. There are still one or two megaresort projects still out there, notably Genting Group‘s Resorts World Las Vegas. … Continue reading →

Posted in Foxwoods, Genting, Hard Rock Hotel, Harrah's, IGT, Internet gambling, Massachusetts, MGM Mirage, Morgans Hotel Group, Neil Bluhm, Regulation | Comments Off

What’s “incidental” & other Case Bets

Posted on April 2, 2014 by David McKee

When the Clark County Commission went out of its way to define “tavern gaming” in 2011, it went into all sorts of minutiae about kitchens and such. But it neglected to address the elephant in the room: How much gambling … Continue reading →

Posted in Environment, Foxwoods, Golden Gaming, Goldman Sachs, Massachusetts, Mohegan Sun, Regulation, Slot routes, South Carolina, Steve Wynn, The Strip, Tribal | 1 Comment