Category Archives: Missouri

Toppling dominoes in New York; Secret plan in St. Louis

Posted on June 6, 2014 by David McKee

Just like that, the E23 casino project near Albany is toast. But David Flaum won’t be asking for his $1 million back: He and partner Global Gaming Solutions have their eyes on Rensselaer now. GGS blamed the demise of E23 … Continue reading →

Posted in Cordish Co., Harrah's, Maryland, Missouri, New York, Penn National, Pinnacle Entertainment, Racinos, Tribal, Tropicana Entertainment | Comments Off

Station’s waning clout; Off the rez with SCOTUS

Posted on May 29, 2014 by David McKee

Station Casinos‘ insistence on re-litigating the issue of slot parlors in Nevada seems to have finally driven some officials to the end of their patience. Assembly Majority Leader William Horne (D, right), the industry’s primary water carrier, tried to plump for a … Continue reading →

Posted in Boyd Gaming, Election, history, Missouri, Politics, Regulation, Slot routes, Station Casinos, Tribal | Comments Off

Pinnacle, GLPI impress The Street; Parx beats Pennsylvania

Posted on April 30, 2014 by David McKee

Despite soft performance in its regional markets, Pinnacle Entertainment impressed an analyst or two by exceeding revenue expectations for the past quarter. Pinnacle’s cash flow was $3 million above Wall Street estimates, a feat attributed to fiscal discipline and improved … Continue reading →

Posted in Ameristar, Greenwood Racing, Illinois, Louisiana, Marketing, Missouri, Penn National, Pennsylvania, Pinnacle Entertainment, Taxes, Wall Street | Comments Off

Paint them black; New ideas for Atlantic City

Posted on April 11, 2014 by David McKee

“Fortunately for police, the chips floated.” That was the undoing of casino cheat Vuong Q. Truong, who tried to hide the better part of $150,000 worth of forged casino chips at the bottom of a lake. No go. The ongoing Truong … Continue reading →

Posted in Atlantic City, Entertainment, Harrah's, Illinois, International, Marketing, Maryland, Missouri, New York, Penn National, Transportation, West Virginia | 1 Comment

Case Bets

Posted on April 4, 2014 by David McKee

In a risky play, the Missouri Senate voted upon and passed to the General Assembly a bill that would boost Show-Me State casinos’ ability to extend credit. Mind you, all the risk is on the casino. It could lend as … Continue reading →

Posted in Alabama, Economy, Genting, Internet gambling, Mississippi, Missouri, New York, Pinnacle Entertainment, Racinos, Taxes | Comments Off

The Adelson caucus

Posted on March 27, 2014 by David McKee

Online gambling is officially under attack, with bills having been introduced in both houses of Congress to eradicate the U.S. industry. (This must be one of those occasions when it’s OK to be “anti-business.”) As reported earlier the Senate version … Continue reading →

Posted in Illinois, Internet gambling, Missouri, Pinnacle Entertainment, Politics, Regulation, Sheldon Adelson, Slot routes, Tropicana Entertainment | Comments Off

No cause for jubilation; Cool spring at IGT

Posted on March 26, 2014 by David McKee

Audience feedback on the revamped, urbanized Jubilee! is starting to pour in … and it’s devastating. How bad can it be, I hear you say? Try this: “Like trying to save the Hindenburg with a bicycle pump … hands-down the … Continue reading →

Posted in Don Barden, Economy, Entertainment, Harrah's, IGT, Missouri, The Strip, Wall Street | 2 Comments

The industry speaks, Part Two

Posted on March 13, 2014 by David McKee

Both Penn National Gaming and Pinnacle Entertainment have weighed in at the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum. Penn engaged in a three-bucket division of its casinos. “The first bucket comprises properties in markets where there has … Continue reading →

Posted in Ameristar, Indiana, Louisiana, Marketing, Massachusetts, MGM Mirage, Missouri, Ohio, Penn National, Pinnacle Entertainment, Racinos, Tilman Fertitta, Wall Street, West Virginia | Comments Off

Caesars disappoints Wall Street

Posted on March 12, 2014 by David McKee

Caesars Entertainment posted a staggering, $1.76 billion loss (-$12.83/share), as some analysts fret that the recent fire sale of four casinos to Caesars Growth Partners may starve parent company Caesars Entertainment Operating Co. of cash flow. Meanwhile, Big Caesars has … Continue reading →

Posted in Atlantic City, Harrah's, Louisiana, Missouri, Revel, Wall Street | 4 Comments

Missouri, Indiana take their lumps

Posted on March 11, 2014 by David McKee

Bad weather is being blamed for dismal attendance figures at St. Louis-area casinos. Those on the Missouri side were down 11%, while Casino Queen in East St. Louis and Alton Belle were off 17% at the turnstile. Statewide, revenue was down 7%, with … Continue reading →

Posted in Harrah's, Indiana, Isle of Capri, Missouri, Ohio, Penn National, Pinnacle Entertainment, Taxes, Tropicana Entertainment | Comments Off

Kansas City story

Posted on February 24, 2014 by David McKee

Posted in Harrah's, Missouri, Pinnacle Entertainment | Comments Off

Case Bets: GLPI, Macao, Louisiana, Ely

Posted on February 21, 2014 by David McKee

Gaming & Leisure Properties, parent company of Penn National Gaming, held its first conference and discussed what Deutsche Bank‘s Carlo Santarelli, in a Freudian slip, called “key tenants [sic] of the … bull case.” We’re already seeing how GLPI intends … Continue reading →

Posted in Boyd Gaming, Harrah's, Isle of Capri, Louisiana, Macau, Missouri, Penn National, Pinnacle Entertainment, Regulation, Wall Street | Comments Off

Pinnacle beats The Street; MGM goes electric

Posted on February 12, 2014 by David McKee

Pinnacle Entertainment did a brilliant job of managing Wall Street‘s expectations, its cash flow coming in $5 million above analysts’ consensus, driven by lower operating expenses. J.P. Morgan‘s Joseph Greff called the results “better than feared,” which tells you how … Continue reading →

Posted in Ameristar, Environment, Foxwoods, International, Internet gambling, Maryland, Massachusetts, MGM Mirage, Missouri, Ohio, Pinnacle Entertainment, Transportation, Tribal, Wall Street | Comments Off

The Midwest: First the good news …

Posted on February 10, 2014 by David McKee

Casino revenue in the Buckeye State vaulted 56%, as several new racinos came on line. The not such good news is that Ohio casinos are merrily cannibalizing themselves, down 16% on a year/year basis. Hollywood Columbus, in particular, continues to … Continue reading →

Posted in Boyd Gaming, Current, Hard Rock International, Harrah's, Illinois, Indiana, Iowa, Isle of Capri, MGM Mirage, Missouri, Neil Bluhm, Ohio, Penn National, Pinnacle Entertainment, Politics, Racinos, Wall Street | 1 Comment

Penn gets frostbite; Virginia passes up gambling

Posted on February 6, 2014 by David McKee

Caught between harsh weather and a tighter competitive squeeze, Penn National Gaming posted 4Q13 revenues that were 13% down from last year. The $645 million loss drew a surprisingly muted reaction from gaming analysts. The company is already drastically reducing … Continue reading →

Posted in California, Louisiana, Macau, Missouri, Ohio, Penn National, Politics, Problem gambling, Racinos, Sheldon Adelson, Stanley Ho, Steve Wynn, Taxes, Wall Street | Comments Off

Revel: Has Loveman gone insane?; East St. Louis gets the shaft

Posted on January 29, 2014 by David McKee

You’d think Caesars Entertainment had its hands full with four active casinos in Atlantic City and the defunct Atlantic Club Hotel. But no, CEO Gary Loveman is reported to be considering a bid for $2.6 billion Revel Resort, which Caesars … Continue reading →

Posted in Atlantic City, Hard Rock Hotel, Harrah's, Illinois, Missouri, Racinos, Regulation, Revel | Comments Off

Frigid winter for Midwest casinos

Posted on January 10, 2014 by David McKee

Blame it on brutal weather or whatever your like but Midwest casino revenues have been dismal in December and it’s my doleful duty to report them. Missouri dipped 11%. Positive performers, like Pinnacle Entertainment‘s River City (+6%) were few. Of … Continue reading →

Posted in Ameristar, Boyd Gaming, Current, Economy, Harrah's, Indiana, Iowa, Isle of Capri, Missouri, Penn National, Pinnacle Entertainment, Racinos, Tropicana Entertainment, Wall Street | 2 Comments

Compromise in Boston; Good riddance at Pinnacle?

Posted on December 10, 2013 by David McKee

It would appear that the Massachusetts Gaming Commission has tacitly bowed to ballot language that would require any restructuring of the Suffolk Downs casino deal to be submitted for a re-vote. Fresh off the wires comes news that the MGC … Continue reading →

Posted in Harrah's, Isle of Capri, Massachusetts, Missouri, Mohegan Sun, Penn National, Pinnacle Entertainment, Racinos, Regulation, Tropicana Entertainment | Comments Off

Big coup for Lumiere; Where next, Vegas?

Posted on December 6, 2013 by David McKee

And Caesars Entertainment‘s March stop on the World Series of Poker is … Lumiere Place?!?!? Yes, a marquee Caesars attraction is being held on Tropicana Entertainment property. The reason is twofold. One, Horseshoe Cleveland isn’t big enough to handle the … Continue reading →

Posted in Current, Detroit, Harrah's, Marketing, Missouri, Ohio, Penn National, Station Casinos, Technology, Tropicana Entertainment, World Series of Poker | Comments Off

Misery in Missouri; Massachusetts upended; Ho associate nabbed

Posted on November 12, 2013 by David McKee

Today’s gaming numbers out of Missouri are so depressing I hardly feel like sharing them. Year over year, only two casinos were revenue-positive. One was — no surprise — River City, in St. Louis. The other was — mild surprise … Continue reading →

Posted in Harrah's, International, Isle of Capri, Lawrence Ho, Massachusetts, Missouri, Penn National, Pinnacle Entertainment, Regulation, Taxes, Tribal | 1 Comment