Category Archives: MGM Mirage

Pinnacle: The cost of the deal

Posted on May 30, 2013 by David McKee

Pinnacle Entertainment finds itself in an interesting pickle today: It’s awfully far into its Federal Trade Commission-blocked purchase of Ameristar Casinos to blow it up by, say, selling three or more Ameristar properties or otherwise triggering a fallout. And if … Continue reading →

Posted in Ameristar, CityCenter, Current, Harrah's, Internet gambling, Louisiana, Macau, Melco Crown Entertainment, MGM Mirage, Missouri, Penn National, Regulation, Sheldon Adelson, Vdara Death Ray, Wall Street, World Series of Poker | Comments Off

Feds balk at Pinnacle/Ameristar deal

Posted on May 29, 2013 by David McKee

Given the supine attitude toward mergers and acquisitions that has prevailed in Washington, D.C., for the past 15 years and the routine, state-by-state approval of Pinnacle Entertainment‘s takeover of Ameristar Casinos, I had erroneously thought it a done deal. Not … Continue reading →

Posted in Cosmopolitan, Current, Economy, Harrah's, Illinois, Isle of Capri, Louisiana, MGM Mirage, Missouri, Penn National, Pinnacle Entertainment, Regulation, The Strip, Tourism, Wall Street | 2 Comments

MGM: No time wasted

Posted on May 21, 2013 by David McKee

Say what you like about MGM Resorts International‘s plans for Monte Carlo and New York-York, the company isn’t letting any grass grow under its feet: As of 9 a.m. this morning, the Monte Carlo facade was merely walled off with … Continue reading →

Posted in Architecture, Current, MGM Mirage, The Strip | 1 Comment

Penn cloning process proceeds

Posted on May 17, 2013 by David McKee

Penn National Gaming has filed paperwork with the SEC for an IPO that would enable you to buy into 19 Penn casinos, including flop Hollywood Perryville (shown). This Penn stalking horse would go by the incredibly generic name of Gaming … Continue reading →

Posted in Architecture, Current, Harrah's, Maryland, Massachusetts, MGM Mirage, Penn National, Pennsylvania, The Strip, Wall Street | Comments Off

Big setback in Toronto; Wynn rebuffed; Cuomo’s winning streak

Posted on May 17, 2013 by David McKee

One of gaming’s biggest new markets went out with a whimper, not a bang, when colorful Toronto Mayor Rob Ford nixed a scheduled vote on whether to put a casino in the lakeside city, hoping to extract a $97 million … Continue reading →

Posted in Colorado, Current, Dan Gilbert, Detroit, Economy, Harrah's, Horseracing, International, Massachusetts, MGM Mirage, New York, Penn National, Politics, Racinos, Regulation, Steve Wynn, Taxes, Texas, Tribal | 1 Comment

Profit vs. investment on the Strip

Posted on May 16, 2013 by David McKee

Even if you’re making money on a daily basis, sometimes a casino-resort can be a bad investment. Take Cosmopolitan of Las Vegas, which finally posted a profitable quarter. However, at $3.9 billion in construction costs (now at or very near … Continue reading →

Posted in CityCenter, Cosmopolitan, Detroit, Dubai, Economy, Entertainment, Fontainebleau, Genting, Harrah's, MGM Mirage | 1 Comment

Mashee Wamps make their pitch; Exit Dubai World?

Posted on May 15, 2013 by David McKee

Although the financial backing of Genting Group would — under normal circumstances — make the Mashpee Wampanoags prohibitive favorites for a casino in southeastern Massachusetts, these are anything but normal conditions. The tribe still doesn’t have a compact with the … Continue reading →

Posted in Current, Dubai, Genting, Massachusetts, MGM Mirage, Regulation, Tribal | Comments Off

Big vote in Beantown?; Penn National short-sheets Maryland

Posted on May 14, 2013 by David McKee

That’s what it could come to in Boston, if mayoral candidate — and current Suffolk County D.A. — Daniel Conley gets his wish. Rather than simply letting East Boston vote up or down on Caesars Entertainment‘s proposed conversion of Suffolk … Continue reading →

Posted in Architecture, Current, Election, Harrah's, Internet gambling, Maryland, Massachusetts, MGM Mirage, Penn National, Politics, Racinos, Regulation, Station Casinos | 2 Comments

Equivocal anniversary for Ohio; In Massachusetts, progress for MGM and Wynn

Posted on May 13, 2013 by David McKee

So, as Ohio marks the first full year of casino play, is the glass half-full or half-empty. Currently, much is being made of Horseshoe Cleveland having brought in less than half of greatly over-ambitious expectations (and 12% less than what … Continue reading →

Posted in Architecture, Current, Dan Gilbert, Dining, Economy, Entertainment, Harrah's, Massachusetts, MGM Mirage, Ohio, Penn National, Politics, Racinos, Regulation, Steve Wynn, Taxes, Tourism | 3 Comments

Cosmo finally learns; Parx’s Maryland play

Posted on May 13, 2013 by David McKee

We don’t know how it managed it but congratulations to The Cosmopolitan of Las Vegas. It finally realized how to market to those hitherto-elusive creatures known as “gamblers.” Casino revenue shot up 33%, winning $41 million from players, partly due … Continue reading →

Posted in Cosmopolitan, Current, Maryland, MGM Mirage, Penn National, Pennsylvania, Politics, The Strip, Wall Street, West Virginia | Comments Off

Gaming suffers rare defeat; Big rush in Springfield

Posted on May 8, 2013 by David McKee

It’s a longstanding tradition in Iowa that voters, once they’ve voted to approve a casino in their county, never have second thoughts. Selling non-gaming counties on new casinos, however, is a different story. Take Norwalk County, for instance, where a … Continue reading →

Posted in Architecture, Cordish Co., Current, Election, Iowa, Massachusetts, MGM Mirage, New Hampshire, Politics, Tribal, Warner Gaming | Comments Off

Cirque du Soleil: “One”-plus

Posted on May 7, 2013 by David McKee

Media previews are a double-edged sword. They can be a cheap way of drumming up advance press but can also betray a project in trouble: Surf the Musical was obviously going to be dead on arrival. And it was. Given … Continue reading →

Posted in Cirque du Soleil, Current, Entertainment, MGM Mirage, The Strip | 3 Comments

Steve Wynn turns into Debbie Downer; Caesars’ screwy priorities

Posted on May 2, 2013 by David McKee

Yes, the recovery in Las Vegas could be said to be a chastened and limping one. The national press will leap at just about anything to restart the “Vegas is back” narrative. And yes, CityCenter ROI improved exponentially … to … Continue reading →

Posted in CityCenter, Current, Economy, Election, Harrah's, Horseracing, Macau, Massachusetts, MGM Mirage, Racinos, Regulation, Sheldon Adelson, Steve Wynn, The Strip | 6 Comments

Quote of the Day

Posted on May 2, 2013 by David McKee

“MGM [Resorts International] still has much of its business in on the Strip, unlike its major rivals Las Vegas Sands Corp. and Wynn Resorts … Those companies both reported gains for the first three months of the year because of … Continue reading →

Posted in CityCenter, Current, Harrah's, Macau, MGM Mirage, Sheldon Adelson, Steve Wynn, Wall Street | Comments Off

Springfield: MGM bests Penn … for now

Posted on May 1, 2013 by David McKee

Yes, the comedy is finished in Springfield, at least for the moment. In an episode worthy of The Simpsons and after an epic amount of foot-dragging, Springfield Mayor Domenic Sarno was cajoled and ultimately browbeaten into actually taking a stand … Continue reading →

Posted in Current, Dining, Economy, International, Massachusetts, MGM Mirage, Neil Bluhm, Penn National, Politics, Racinos, Regulation, Tourism, Tribal, TV, Wall Street | 1 Comment

Land of the Rising Hope

Posted on April 29, 2013 by David McKee

Every few years, brows are knitted earnestly in discussion of whether this will finally be the year in which Japan legalizes casino gambling. I’ve been hearing versions of this debate regularly since 2005, so you’ll pardon me if I suppress … Continue reading →

Posted in Current, Genting, International, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Sheldon Adelson, Singapore, Steve Wynn, Taxes, The Mob, The Strip, Tourism, Wall Street | Comments Off

Pinnacle/Ameristar: A done deal; Elaine Wynn’s domino effect

Posted on April 29, 2013 by David McKee

All but a very few Ameristar Casinos shareholders voted to approve the company’s takeover by Pinnacle Entertainment, in one of the fastest M&A deals in industry memory. Regulatory approvals are still pending in Nevada and other states but Ameristar always … Continue reading →

Posted in Ameristar, Dining, Entertainment, Harrah's, Indiana, Iowa, Macau, MGM Mirage, Missouri, Penn National, Pinnacle Entertainment, Regulation, Steve Wynn, Wall Street | Comments Off

Massachusetts loses patience … as do Archon shareholders

Posted on April 19, 2013 by David McKee

As the Mashpee Wampanoag tribe and Gov. Deval Patrick (D, right) continue to try and convince the federal government that their prepackaged arrangement for the Mashpee Wamps to get a casino in southeast Massachusetts isn’t usurious (17% of gross revenues … Continue reading →

Posted in Ameristar, Archon Corp., Boyd Gaming, Economy, Laughlin, MGM Mirage, Penn National, Pinnacle Entertainment, Politics, Regulation, Taxes, The Strip, Tribal | Comments Off

Good and bad ideas in marketing; Small is beautiful, Vegas

Posted on April 18, 2013 by David McKee

Break out a flagon of whatever Derek Stevens is drinking and put it on my tab, lads. To commemorate the first leg of the Triple Crown, he’s holding a May 3-4 Sigma Derby tournament. Buy-in starts at $50, so starting … Continue reading →

Posted in Architecture, Boyd Gaming, Current, Derek Stevens, Detroit, Downtown, Economy, Goldman Sachs, Harry Reid, history, Horseracing, Marketing, MGM Mirage, Morgans Hotel Group, Pennsylvania, Sam Nazarian, Sports, Station Casinos, The Strip | 1 Comment

Illinois: Recovering or grasping a branch?

Posted on April 6, 2013 by David McKee

We’re at a point where we can finally say that Illinois‘ colossal slide in casino revenues has ended … at least until people get into the habit of playing video poker in bars. Reckless legislators like Rep. Lou Lang (D), … Continue reading →

Posted in Boyd Gaming, Current, Economy, Harrah's, Illinois, Isle of Capri, MGM Mirage, Neil Bluhm, Penn National, Slot routes | 1 Comment