Category Archives: MGM Resorts International

The age of austerity?

Posted on May 16, 2019 by David McKee

While Station Casinos CEO Frank Fertitta III won’t be mistaken for a pauper anytime soon, he’s the most restrained of Las Vegas‘ top six gaming CEOs when it comes to compensation. On top of his $1 million base salary, his … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Culinary Union, International, Japan, Las Vegas Sands, Lawrence Ho, Melco Resorts & Entertainment, MGM Resorts International, Politics, Sheldon Adelson, Station Casinos, Unite-Here, Wall Street, Wynn Resorts | Comments Off on The age of austerity?

Snakes in a casino & other Case Bets

Posted on May 16, 2019 by David McKee

Well, I’m never setting foot in Binion’s Gambling Hall again. A butt-ugly (but evidently non-poisonous) snake got in and made itself comfy in the roulette wheel. Security merely escorted the reptile inside, so there’s no telling whether there will be … Continue reading →

Posted in Animals, Caesars Entertainment, Charity, Derek Stevens, Downtown, Economy, Environment, Marketing, MGM Resorts International, Missouri, Nevada, Problem gambling, Real Estate, Technology, Transportation | Comments Off on Snakes in a casino & other Case Bets

Rough April for Atlantic City; Britney to jilt MGM?

Posted on May 15, 2019 by David McKee

As always, Atlantic City proves to be a good-news/bad-news story. Gaming revenue there was up 8.5% higher last month but the love had to be spread thin, as same-store revenues fell 12%. Casinos grossed $207.5 million with slots up 6% … Continue reading →

Posted in Atlantic City, Baseball, Boyd Gaming, Caesars Entertainment, Churchill Downs, Dan Gilbert, Detroit, Eldorado Resorts, Entertainment, Greenwood Racing, Hard Rock International, Internet gambling, MGM Resorts International, Mohegan Sun, New Jersey, Ocean Resort, Penn National, Pennsylvania, Racinos, Rush Street Gaming, Sports, Sports betting, The Strip, Tilman Fertitta | 2 Comments

Wall Street loves Wynn, Penn, MGM

Posted on May 15, 2019 by David McKee

JP Morgan analyst Joseph Greff issued a post-1Q19 bulletin in which he named Wynn Resorts (growth), Penn National Gaming (value for share price) and MGM Resorts International (event-driven revenue) as his top picks in the gambling sphere. Wynn got a … Continue reading →

Posted in Arkansas, Caesars Entertainment, DFS, Dining, Eldorado Resorts, Election, Internet gambling, Iowa, Japan, Las Vegas Sands, Macau, Massachusetts, Melco Resorts & Entertainment, MGM Resorts International, Penn National, Pennsylvania, Pets, Pinnacle Entertainment, Problem gambling, Racinos, Sports betting, The Strip, Tilman Fertitta, Transportation, Wall Street, Wynn Resorts | Comments Off on Wall Street loves Wynn, Penn, MGM

Illinois agonizes over expansion; Frustration in Connecticut

Posted on May 14, 2019 by David McKee

Always looking for ways to kill the golden goose, Illinois lawmakers are contemplating gambling expansion yet again. Slot route operators are understandably balking at Gov. J.B. Pritzker‘s proposal to raise the current 30% tax rate to a 50/50 split with … Continue reading →

Posted in Architecture, Connecticut, Foxwoods, Illinois, Internet gambling, Las Vegas Sands, Macau, MGM Resorts International, Mohegan Sun, New Jersey, New York, Politics, Resort fees, Slot routes, Sports betting, The Strip, Tribal | Comments Off on Illinois agonizes over expansion; Frustration in Connecticut

MGM, Adelson tussle for Japan; Wynn pouts over fine

Posted on May 13, 2019 by David McKee

Everybody wants to be in Osaka, now that it’s open for casino development and the Osakanese government strongly covets a casino, one hopefully that would be open in time for the 2025 World Expo. Among the entrants, Las Vegas Sands, … Continue reading →

Posted in Dining, Galaxy Entertainment, Genting, Japan, Las Vegas Sands, Lotteries, Massachusetts, Melco Resorts & Entertainment, MGM Resorts International, Mohegan Sun, Politics, Regulation, Singapore, Sports betting, Transportation, Tribal, Wynn Resorts | Comments Off on MGM, Adelson tussle for Japan; Wynn pouts over fine

Wynn disappoints, MGM expectations managed

Posted on May 13, 2019 by David McKee

Although Wynn Resorts reported $1.6 billion in revenue for 1Q19, Credit Suisse analyst Ben Combes called the numbers “disappointing … We remain Neutral on WYNN, given macro uncertainty and policy risk in Macau and China. Our forward macro indicators are … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, Crown Resorts, Eldorado Resorts, Full House Resorts, Indiana, Lotteries, Macau, MGM Resorts International, Penn National, Scientific Games, Spectacle Entertainment, Sports, The Strip, Tribal, Wall Street, Wynn Resorts | Comments Off on Wynn disappoints, MGM expectations managed

The biggest loser

Posted on May 13, 2019 by David McKee

Donald Trump‘s casino years are back in the news again, thanks to a New York Times exposé of his tax records that described the 1985-94 period as “an era of fevered acquisition and spectacular collapse.” During a two-year period in … Continue reading →

Posted in Atlantic City, Charity, Donald Trump, Entertainment, history, MGM Resorts International, Regulation, Sports, Wall Street | 3 Comments

Indiana gets it done; Fox puts $$ into sports betting

Posted on May 10, 2019 by David McKee

It’s official. Indiana Gov. Eric Holcomb (R) has affixed his signature to a bill that will expand gambling in the Hoosier State by approving two new casinos and permitting sports betting, expected to take off by September. (All-important mobile betting … Continue reading →

Posted in Caesars Entertainment, Connecticut, Foxwoods, Indiana, Majestic Star, MGM Resorts International, PokerStars, Politics, Spectacle Entertainment, Sports, Sports betting, TV | Comments Off on Indiana gets it done; Fox puts $$ into sports betting

Macao saves Wynn; Soaked in Missouri

Posted on May 10, 2019 by David McKee

If it were just a question of Las Vegas Strip performance, Wynn Resorts would have very little good news to report. Gross gaming revenue ($166 million) was down 19% in 1Q19, its impact softened by an 11% increase in slot … Continue reading →

Posted in Affinity Gaming, Boyd Gaming, Caesars Entertainment, Connecticut, Eldorado Resorts, Foxwoods, Macau, Massachusetts, Melco Resorts & Entertainment, MGM Resorts International, Missouri, Mohegan Sun, Penn National, Politics, Sports betting, The Strip, Wall Street, Wynn Resorts | Comments Off on Macao saves Wynn; Soaked in Missouri

Stability in the heartland; The lure of “NashVegas”

Posted on May 9, 2019 by David McKee

Last month’s gaming revenues from Ohio and Illinois were flat year/year. Some would look at that as a bad thing but it shows the states aren’t losing significant play to neighboring states. Ohio casinos grossed $160 million, with MGM Northfield … Continue reading →

Posted in Australia, Boyd Gaming, Caesars Entertainment, Canada, Churchill Downs, Crown Resorts, Dan Gilbert, Dining, Eldorado Resorts, Georgia, GLPI, Illinois, Law enforcement, Macau, MGM Resorts International, Mississippi, Ohio, Penn National, Pennsylvania, Rush Street Gaming, Sports, Sports betting, The Strip, Tourism, Wall Street, Wynn Resorts | Comments Off on Stability in the heartland; The lure of “NashVegas”

Solid month for Maryland; Casino sale aborted

Posted on May 7, 2019 by David McKee

Maryland casino revenues inched up to $145 million last month, led by MGM National Harbor with $61 million and 42% of market share. Maryland Live, no surprise, was second with 33% and $48 million (+2%). Horseshoe Baltimore grossed $20 million … Continue reading →

Posted in Atlantic City, Caesars Entertainment, Churchill Downs, Cordish Co., GLPI, Golden Gaming, Illinois, Internet gambling, Iowa, Lotteries, Macau, Maryland, Melco Resorts & Entertainment, MGM Resorts International, Missouri, Mohegan Sun, Nebraska, Penn National, Politics, Regulation, Sports betting, Tribal, TV, Wall Street, West Virginia | Comments Off on Solid month for Maryland; Casino sale aborted

Eldorado strong, Penn stronger; Caesars screws you

Posted on May 3, 2019 by David McKee

Were it not for inclement weather, Eldorado Resorts would have exceeded Wall Street’s consensus $172 million cash-flow prediction by $8 million for 1Q19, not come up $5 million short. For instance, Reno (pictured) had snow in 24 of February’s 28 days … Continue reading →

Posted in Arizona, Atlantic City, Caesars Entertainment, Colorado, Cordish Co., Cretins, Culinary Union, Detroit, Dining, Economy, Eldorado Resorts, Florida, Hard Rock International, Illinois, Internet gambling, Iowa, Macau, Massachusetts, MGM Resorts International, Mississippi, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Regulation, Reno, Sports betting, Station Casinos, Tribal, Wall Street, West Virginia, Wynn Resorts | Comments Off on Eldorado strong, Penn stronger; Caesars screws you

The unkindest cuts of all

Posted on May 3, 2019 by David McKee

Apparently Las Vegas casinos—and specifically those of MGM Resorts International—have not learned from the ill-will generated by resort fees and paid parking. Now, as discovered by Scott Roeben, MGM is instigating an insidious “surge pricing” for sundries like water and … Continue reading →

Posted in Caesars Entertainment, Churchill Downs, Entertainment, Genting, Horseracing, Japan, Las Vegas Sands, Macau, MGM Resorts International, Resort fees, Singapore, Sociedade de Jogos de Macau, The Strip | 1 Comment

Putting problem gaming on notice; Station has a hit

Posted on May 1, 2019 by David McKee

“Whilst the vast majority of our customers enjoy our products responsibly, it is high time that the industry did more to protect its customers from potential harm.” Thus spake GVC CEO Kenny Alexander in a dramatic change of policy. Along … Continue reading →

Posted in Atlantic City, Caesars Entertainment, Connecticut, Foxwoods, Horseracing, International, Kazuo Okada, Marketing, Massachusetts, MGM Resorts International, Mohegan Sun, New Jersey, Palms, Philippines, Problem gambling, Sports, Station Casinos, TV, Wall Street, William Hill | Comments Off on Putting problem gaming on notice; Station has a hit

Up and down the Strip; Land of the not-so-rising Sun

Posted on April 30, 2019 by David McKee

As a determination on its suitability in Massachusetts comes down to the wire (and opening date of Encore Boston Harbor is set for June 23), Wynn Resorts is trying to reap some positive karma. It has abandoned its pay-for-parking policy. … Continue reading →

Posted in Caesars Entertainment, Derek Stevens, Downtown, Economy, Entertainment, Japan, Macau, Massachusetts, MGM Resorts International, New Jersey, Resort fees, Sports, Sports betting, The Strip, Wall Street, Wynn Resorts | Comments Off on Up and down the Strip; Land of the not-so-rising Sun

MGM: Endgame

Posted on April 26, 2019 by David McKee

What follows is an open letter from CEO Jim Murren to employees of MGM Resorts International: “When I announced MGM 2020 back in January, I knew it would be a long and challenging road to implementation. I pledged you would … Continue reading →

Posted in history, MGM Resorts International, The Strip | 1 Comment

Re-enter the Dragon

Posted on April 23, 2019 by David McKee

Yes, the Lucky Dragon will be coming back, albeit under a new name. Construction magnate Don Ahern has made a $36 million purchase of the luckless casino, which still carries another $50 million in debt. (Hence the bargain price.) Ahern … Continue reading →

Posted in Animals, Caesars Entertainment, Derek Stevens, Downtown, Lucky Dragon, MGM Resorts International, Pets, Sports betting, Tamares Group, The Strip, TV | 1 Comment

Land of confusion

Posted on April 22, 2019 by David McKee

OK, so there are no condos on sale at the Plaza Resort in downtown Las Vegas. That much we have established. But it’s got to be one of the most baffling stories we’ve ever covered. For instance, “TLC” usually is shorthand … Continue reading →

Posted in Animals, Caesars Entertainment, Churchill Downs, Golden Gaming, Illinois, Japan, Kentucky, Massachusetts, MGM Resorts International, New Jersey, Penn National, Politics, Racinos, Real Estate, Regulation, Sports betting, Tamares Group, Taxes, Terry Caudill, The Strip, Wall Street | Comments Off on Land of confusion

Cosmopolitan on the block (again)

Posted on April 18, 2019 by David McKee

Blackstone Group‘s tenure at The Cosmopolitan of Las Vegas will be remarkably brief (although nothing in the gaming industry will ever match the extreme brevity of the abortive Wynn Resorts/Crown Resorts merger). Bloomberg reports that Blackstone is exploring “strategic options” … Continue reading →

Posted in AGA, Caesars Entertainment, CityCenter, Cosmopolitan, Downtown, history, Las Vegas Sands, Macau, Marketing, Melco Resorts & Entertainment, MGM Resorts International, Politics, Sports betting, Tamares Group, The Strip, TV, Wall Street, Wynn Resorts | Comments Off on Cosmopolitan on the block (again)