Category Archives: Missouri

Hooters sold (again); Fat lady sings for Opera House

Posted on May 11, 2015 by David McKee

If someone with deep pockets wants to gamble on a big recovery on the Las Vegas Strip, then Spectrum Group Management would like to have a chat with them. Spectrum holds title to optimistically slugged “Project Jackpot,” just north of … Continue reading →

Posted in Ameristar, Dotty's, Genting, Harrah's, Hooters, Isle of Capri, MGM Mirage, Missouri, North Las Vegas, Penn National, Pinnacle Entertainment, Steve Wynn, The Strip, Tropicana Entertainment, Wall Street | 2 Comments

Sands, Penn and Pinnacle report

Posted on April 23, 2015 by David McKee

“Tough to find positives … worse than feared” were the attention-grabbing headlines on Deutsche Bank analyst Carlo Santarelli‘s summary of Las Vegas Sands‘ first-quarter report. Of the crisis in Macao, he wrote, “While management remains optimistic with respect to cost … Continue reading →

Posted in California, GLPI, Indiana, Louisiana, Macau, Massachusetts, MGM Mirage, Missouri, Penn National, Pinnacle Entertainment, Racinos, Sheldon Adelson, Singapore, The Strip, Tribal, Wall Street | Comments Off on Sands, Penn and Pinnacle report

Adelson vs. lottery; Big weekend at SLS

Posted on March 11, 2015 by David McKee

Proving that gaming is the only taxable udder on which the Nevada Legislature dares tug, Assemblyman Harvey Munford has proposed a state lottery. The purported use of lottery proceeds would be to help senior citizens and support public education. “The … Continue reading →

Posted in Ameristar, Entertainment, GLPI, Harrah's, Illinois, MGM Mirage, Missouri, Pinnacle Entertainment, Politics, Regulation, Sam Nazarian, Sheldon Adelson, The Strip | 1 Comment

IRS money grab; Nastiness at Wynn

Posted on March 5, 2015 by David McKee

Gaming is a “soft target” for politicians and the Obama administration is looking into a backdoor method of engorging more gaming taxes. It is “considering” (but not yet imposing) lower thresholds for the “IRS lockdown” on winnings at keno, bingo and slots. … Continue reading →

Posted in Columbia Sussex, Missouri, Regulation, Steve Wynn, Taxes | Comments Off on IRS money grab; Nastiness at Wynn

Macao casinos squeezed again; Isle’s clean sweep

Posted on February 25, 2015 by David McKee

First, it was the corruption crackdown. Now, the Chinese government is reviewing visitation levels to Macao. As Macanese Secretary for Social Affairs & Culture Alexis Tam put it, “[T]oo many tourists impact residents’ quality of life.” That’s not music to casinos’ ears and … Continue reading →

Posted in Colorado, Florida, Isle of Capri, Louisiana, Macau, Melco Crown Entertainment, MGM Mirage, Mississippi, Missouri, Racinos, Regulation, Sheldon Adelson, Steve Wynn, Tourism, Wall Street | Comments Off on Macao casinos squeezed again; Isle’s clean sweep

Addition in Mississippi; Subtraction in Atlantic City; Gluttony in Las Vegas

Posted on January 29, 2015 by David McKee

It was all there in black and white: $935 million in state and federal taxes paid, and $4 billion in economic. That’s what Mississippi casinos achieved, despite two closures. “The numbers reflect we’re doing OK here in Mississippi,” understated Mississippi Gaming & … Continue reading →

Posted in Atlantic City, Dining, Economy, Glenn Straub, Louisiana, Marketing, Mississippi, Missouri, Revel, Taxes, The Strip | 1 Comment

New day at the AGA; Illinois casinos feel the slot-route squeeze

Posted on January 14, 2015 by David McKee

For the first time, a Native American gaming enterprise has become part of the American Gaming Association, as Seminole Hard Rock Gaming has cracked what had been the lobbyist equivalent of a whites-only country club. It’s part of an image … Continue reading →

Posted in Alabama, Economy, Geoff Freeman, Greenwood Racing, Hard Rock International, Illinois, LVCVA, Missouri, Penn National, Slot routes, Tribal | 1 Comment

Rendering unto Caesars’ debtors; Missouri bounces back

Posted on January 12, 2015 by David McKee

Before Caesars Entertainment could file for bankruptcy, second-tier bondholders struck first. They have filed with a U.S. bankruptcy court in Delaware, seeking to supersede Caesars’ prepackaged bankruptcy. At issue are the controversial transfer of highly valuable Caesars assets into subsidiary … Continue reading →

Posted in Ameristar, Delaware, Foxwoods, Harrah's, Isle of Capri, Massachusetts, Missouri, Penn National, Pinnacle Entertainment, Tropicana Entertainment | Comments Off on Rendering unto Caesars’ debtors; Missouri bounces back

Big month for Isle; Sentence handed down on Caesars gang

Posted on December 10, 2014 by David McKee

Whether it’s that one less weekend day than last year or holiday shopping or whatever, Missouri was down again in November after tantalizing us with a revenue-positive October. The statewide decrease was 4%, with table revenues holding steady but slot revenues pulling … Continue reading →

Posted in Harrah's, Harry Reid, International, Internet gambling, Isle of Capri, Kansas, Missouri, Penn National, Pinnacle Entertainment, The Strip, Tropicana Entertainment | Comments Off on Big month for Isle; Sentence handed down on Caesars gang

Missouri miracle; Guarded hope in Illinois, Indiana

Posted on November 10, 2014 by David McKee

Finally, there was good news for saturated gaming markets. Missouri was up 2% last month, although the result was a bit lopsided. The St. Louis market rose 3% while the Kansas City area slipped 2%. The latter appears to be … Continue reading →

Posted in Ameristar, Boyd Gaming, Donald Trump, GLPI, Harrah's, Illinois, Indiana, Majestic Star, MGM Mirage, Missouri, Neil Bluhm, Ohio, Penn National, Pinnacle Entertainment, Slot routes, Tropicana Entertainment | Comments Off on Missouri miracle; Guarded hope in Illinois, Indiana

REITmania … it’s catching

Posted on November 6, 2014 by David McKee

Pinnacle Entertainment has signaled its intention to follow in the footsteps of Penn National Gaming and convert into a real estate investment trust. It’s somewhat clearer cut than the convoluted Penn/Gaming & Leisure Properties split, with Pinnacle’s property company retaining … Continue reading →

Posted in Ameristar, Colorado, Donald Trump, Election, Louisiana, Missouri, Penn National, Pinnacle Entertainment, Wall Street | 1 Comment

All’s well at Penn; Casinos wary of Uncle Sam

Posted on October 24, 2014 by David McKee

Helped by better-than-expected performances at M Resort and Hollywood Casino at Charles Town Races, beating its own estimates, Penn National Gaming exceeded Wall Street’s consensus for 3Q14. Cannibalization of Charles Town has not been as great as was feared and … Continue reading →

Posted in Ameristar, Atlantic City, Boyd Gaming, Delaware, Election, Harrah's, M Resort, Massachusetts, MGM Mirage, Missouri, Mohegan Sun, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Regulation, Sports, Tilman Fertitta, West Virginia | Comments Off on All’s well at Penn; Casinos wary of Uncle Sam

Show Me some results; Wynn vindicated

Posted on October 10, 2014 by David McKee

Wall Street analysts expressed disappointment with last month’s gaming revenues from Missouri. Even a 5%  increase in spending couldn’t offset an 8% decline in foot traffic. A bright spot was that, for the quarter, Pinnacle Entertainment beat J.P. Morgan analyst … Continue reading →

Posted in Economy, Harrah's, Isle of Capri, Japan, Kansas, Massachusetts, Missouri, Mohegan Sun, Penn National, Pinnacle Entertainment, Regulation, Singapore, Steve Wynn, Wall Street | Comments Off on Show Me some results; Wynn vindicated

Pacific overtures

Posted on September 25, 2014 by David McKee

Lord knows where they keep coming up with the money for these things, especially with a prepacked bankruptcy being bruited about, but Caesars Entertainment and partner Lippo (a Chinese firm) are beavering away on a South Korea casino complex near … Continue reading →

Posted in Affinity Gaming, Colorado, Harrah's, International, Iowa, Macau, MGM Mirage, Missouri, Singapore, South Korea, Taxes | Comments Off on Pacific overtures

Recovery in Vegas? It depends on where you stand

Posted on August 28, 2014 by David McKee

July was a mixed blessing for Nevada. Gambling revenue was up 5% along the Strip, down 4% among locals and essentially flat statewide. Strip casinos won big at baccarat, with player losses increasing 16% on 24% heavier play. Non-Strip baccarat play … Continue reading →

Posted in Boulder Strip, Downtown, Isle of Capri, Lake Tahoe, Laughlin, Macau, MGM Mirage, Missouri, North Las Vegas, Reno, Taxes, The Strip, Tribal, Wisconsin | Comments Off on Recovery in Vegas? It depends on where you stand

No gold rush in California

Posted on August 11, 2014 by David McKee

In a huge setback for Internet gambling, California‘s legislature is calling it a day. State Sen. Lou Correa (D) is not only withdrawing his i-gaming bill from consideration, he’s being termed out at the end of the session, so the cause … Continue reading →

Posted in California, Harrah's, International, Internet gambling, Isle of Capri, James Packer, Melco Crown Entertainment, Missouri, Ohio, Penn National, Pinnacle Entertainment, Politics, Regulation, Sheldon Adelson, Tropicana Entertainment | Comments Off on No gold rush in California

Pinnacle pestered; Penn profits; Pokies pilloried

Posted on July 25, 2014 by David McKee

Orange Capital, calling itself “unsatisfied,” has renewed its pestering of Pinnacle Entertainment to convert itself into a REIT. Orange claims that share value could be increased 60% to 90%. Unfortunately for Pinnacle customers, REITs are required to return 90% of … Continue reading →

Posted in Ameristar, Atlantic City, Australia, Indiana, Louisiana, Missouri, Ohio, Penn National, Pinnacle Entertainment, Problem gambling, Racinos, Tropicana Entertainment, Wall Street | Comments Off on Pinnacle pestered; Penn profits; Pokies pilloried

Prosperity in Detroit? You bet; Penn’s persistence

Posted on July 18, 2014 by David McKee

Those busy boffins at the American Gaming Association have been crunching data from Detroit and come up with some interesting statistics. The three Motown casinos are a bit lighter in the workforce (down 4%), having lost or laid off 350 … Continue reading →

Posted in Economy, Election, Massachusetts, MGM Mirage, Missouri, Penn National, Regulation, Taxes, Technology, Tropicana Entertainment | Comments Off on Prosperity in Detroit? You bet; Penn’s persistence

So long, Sullivan County

Posted on July 10, 2014 by David McKee

New York State’s Gaming Commission has picked the last two members of the casino-siting committee and it’s pretty bad news for the Catskills region. Both of the finalists are cronies of Gov. Andrew Cuomo (D), as are the three already-seated … Continue reading →

Posted in Atlantic City, Harrah's, Internet gambling, Isle of Capri, Kansas, Missouri, New York, Penn National, Pinnacle Entertainment, Politics, Regulation, Tropicana Entertainment | 1 Comment

What’s in a name?

Posted on July 1, 2014 by David McKee

Quite a lot apparently, if you’re Wynn Boston and you’re going up against local favorite Mohegan Sun. A poll taken by the Center for Policy Analysis at the University of Massachusetts Dartmouth found voters split between 48% in favor of Mohegan … Continue reading →

Posted in Atlantic City, Colorado, Delaware, Detroit, Economy, Election, Foxwoods, Illinois, Indiana, Kansas, Louisiana, Massachusetts, Missouri, Mohegan Sun, New York, Pennsylvania, Steve Wynn, The Strip | Comments Off on What’s in a name?