Category Archives: MGM Mirage

Case Bets: Penn in Vegas, Fontainebleau, Fine Cotton R.I.P.

Posted on February 21, 2009 by David McKee

Phil Hevener, the guy who was onto the Imperial Palace sale before anyone else, says Penn National pitched offers for not only The Mirage but also Caesars Palace … at insultingly low EBITDA multiples. The Strip has seen much better … Continue reading →

Posted in Australia, Boyd Gaming, Fontainebleau, Harrah's, Horseracing, MGM Mirage, Penn National, The Strip, Tribal | Comments Off on Case Bets: Penn in Vegas, Fontainebleau, Fine Cotton R.I.P.

In defense of Reid's largesse; Cosmo craziness

Posted on February 20, 2009 by David McKee

My take on Sen. Harry Reid (D-NV) and his "casino bailout," as one reader has described it, drew the following response from MGM Mirage spokesman Alan Feldman, which is reprinted below with his kind permission. I note only that my … Continue reading →

Posted in Cosmopolitan, Economy, MGM Mirage, Politics | Comments Off on In defense of Reid's largesse; Cosmo craziness

Sludge Report

Posted on February 18, 2009 by David McKee

Kudos to the Las Vegas Review-Journal‘s Howard Stutz for keeping an eye on an especially skanky provision of the economic-stimulus package, a sweetheart provision engineered by Sen. Harry Reid (D-NV). It awards companies — like vocal supporter MGM Mirage — … Continue reading →

Posted in California, Economy, Harrah's, MGM Mirage, Politics, Sheldon Adelson, Station Casinos | Comments Off on Sludge Report

Looking for good news in Vegas

Posted on February 12, 2009 by David McKee

If I wanted to drive myself to strong drink, I could write about depressing, atrocious numbers coming out of Nevada casinos in December. But as that great philosopher, Linus in Peanuts, would remind me, it's better to light a single … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, Downtown, Economy, Gary Goett, George Maloof, Harrah's, Laughlin, MGM Mirage, Michael Gaughan, Morgans Hotel Group, Station Casinos, Tamares Group, Texas, The Strip, Tilman Fertitta, Tribal, Wall Street | Comments Off on Looking for good news in Vegas

Mixed message from Penn

Posted on February 6, 2009 by David McKee

Having pulled the plug on his latest Atlantic City venture, Penn National CEO Peter Carlino served the city a heaping plate of gloom with a side dish of pessimism. In fact, he pretty much slammed the door on the besieged … Continue reading →

Posted in Atlantic City, Colony Capital, Donald Trump, Economy, Harrah's, MGM Mirage, Penn National, Pennsylvania, Pinnacle Entertainment, Tropicana Entertainment | Comments Off on Mixed message from Penn

Stanley Ho's comeback

Posted on February 2, 2009 by David McKee

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 | Comments Off on Stanley Ho's comeback

Bargain$ tonight in Vega$

Posted on January 27, 2009 by David McKee

Suppose that you got a sudden urge to visit Vegas on a Tuesday night … tonight, to be specific. You’d find that the customer is king, at least as far as pricing goes. A few minutes spent browsing Travel.Ian.com yielded … Continue reading →

Posted in Boulder Strip, Boyd Gaming, Columbia Sussex, Current, Don Barden, Donald Trump, Downtown, Economy, Harrah's, Marketing, MGM Mirage, Sheldon Adelson, Station Casinos, Steve Wynn, The Strip | Comments Off on Bargain$ tonight in Vega$

Case Bets: CityCenter, Detroit, Boyd in Indiana

Posted on January 19, 2009 by David McKee

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 | Comments Off on Case Bets: CityCenter, Detroit, Boyd in Indiana

Buyers' remorse

Posted on January 16, 2009 by David McKee

Even if hotelier and Westin Casuarina (above) owner Columbia Sussex succeeds in extricating itself from Tropicana Entertainment, it’s not out of the woods by a long chalk. It may have as little as nine months (or as many as 21) … Continue reading →

Posted in Columbia Sussex, Economy, International, MGM Mirage, Tropicana Entertainment, Wall Street | Comments Off on Buyers' remorse

'Gang' at Encore

Posted on January 15, 2009 by David McKee

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 | Comments Off on 'Gang' at Encore

$376 million for the Trop?

Posted on January 15, 2009 by David McKee

Secured creditors of Tropicana Entertainment are being asked to take haircuts of 14-27%, as details continue to emerge of the company's reorganization proposal. The bigger shave would go to debtors of the company's 10 non-Vegas properties, the value of whose … Continue reading →

Posted in Columbia Sussex, Economy, MGM Mirage, Tropicana Entertainment, Wall Street | Comments Off on $376 million for the Trop?

Rogues' gallery

Posted on January 15, 2009 by David McKee

After a fitful start, blogorrhea is sweeping the business desk of the Las Vegas Review-Journal, resulting a veritable flood of news nuggets today … Planet Hollywood prexy Michael Mecca has resigned to pursue the proverbial "other opportunities" at a time … Continue reading →

Posted in California, Cannery Casino Resorts, Columbia Sussex, Current, Dining, Economy, Entertainment, Harrah's, James Packer, Marketing, Mesquite, MGM Mirage, Planet Hollywood, Politics, Regulation, Reno, The Strip, Tropicana Entertainment | Comments Off on Rogues' gallery

'Gang' at Encore

Posted on January 15, 2009 by David McKee

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 | Comments Off on 'Gang' at Encore

Penn Nat'l: Smoke everywhere, fire less evident

Posted on January 14, 2009 by David McKee

Despite story upon story, Penn National Gaming refuses to oblige the Las Vegas Review-Journal and purchase The Mirage. (This was the paper that pooh-poohed the Phil Ruffin/El Ad deal when it began to break.) While — for all we know … Continue reading →

Posted in Colony Capital, Entertainment, Harrah's, MGM Mirage, Penn National, Phil Ruffin, Steve Wynn, The Strip | Comments Off on Penn Nat'l: Smoke everywhere, fire less evident

Lanni: The official story

Posted on January 12, 2009 by David McKee

My favorite exchange in one of my favorite current TV series, Mad Men, takes place when weasel-like junior exec Pete Campbell (Vincent Kartheiser) goes to rat out his boss, Donald Draper (Jon Hamm), to company owner Bertram Cooper (the cunningly … Continue reading →

Posted in Columbia Sussex, Current, Detroit, Harrah's, International, MGM Mirage, Phil Ruffin, Regulation, Station Casinos, The Strip, TV | Comments Off on Lanni: The official story

Harrah's Chapter 11 Watch

Posted on January 12, 2009 by David McKee

Wait 'til the sun shines, Caesar. Every so often there's a news story to which the only appropriate response is, "Holy shit!" Then again, it wasn't so long ago on the Vegas Gang that Jeff Simpson was reporting finding whole … Continue reading →

Posted in Boyd Gaming, Current, Economy, Harrah's, MGM Mirage, Sheldon Adelson, The Strip | Comments Off on Harrah's Chapter 11 Watch

Good thing they don't gamble … do they?

Posted on January 9, 2009 by David McKee

(Well, only with their shareholders' money, perhaps.) Huffington Post, with the considerable assistance of VegasTripping.com, has sifted through the contributions of casino industry moguls during the last election cycle and all I can say is I'm sure glad these folks' … Continue reading →

Posted in Boyd Gaming, Columbia Sussex, Election, Fontainebleau, George Maloof, Harrah's, Kentucky, MGM Mirage, Phil Ruffin, Politics, Sheldon Adelson, Station Casinos, Steve Wynn, Tilman Fertitta | Comments Off on Good thing they don't gamble … do they?

MGM CEO sez, "Make me an offer"

Posted on January 8, 2009 by David McKee

“We are certainly not looking to aggressively sell assets, but the point is that we do have assets that are attractive and we are going to be very responsive.” That's MGM Mirage CEO Jim Murren's way of saying that he's … Continue reading →

Posted in Boulder Strip, Cannery Casino Resorts, Cirque du Soleil, Economy, James Packer, MGM Mirage, Pennsylvania, The Strip, Wall Street | Comments Off on MGM CEO sez, "Make me an offer"

Happy New Year

Posted on January 2, 2009 by David McKee

Will it be a happy new year for the Strip? In terms of "supply shock," the timing could be a lot better, let's put it that way. Back on Aug. 14, JP Morgan issued an analyst report which showed 11,412 … Continue reading →

Posted in Cosmopolitan, Current, Economy, MGM Mirage, Sheldon Adelson, Station Casinos, Steve Wynn, The Strip, Wall Street | Comments Off on Happy New Year

21

Posted on December 31, 2008 by David McKee

That's the number of predictions for 2009 issued by Spectrum Gaming Group, an Atlantic City-based outfit. They are, in no particular order: • Advancements in technology that impact revenues and cut costs will continue to be attractive to operators even … Continue reading →

Posted in Boyd Gaming, Colony Capital, Columbia Sussex, Cosmopolitan, Current, Don Barden, Economy, Harrah's, Herbst Gaming, IGT, International, Internet gambling, Isle of Capri, Macau, Marketing, MGM Mirage, Morgans Hotel Group, Pinnacle Entertainment, Politics, Regulation, Sheldon Adelson, Station Casinos, Steve Wynn, Technology, Tribal, Wall Street | Comments Off on 21