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Category Archives: Morgans Hotel Group
This is news?; plus Station/Harrah's/Echelon notes
Way back when Vestin Group made a loan to the Castaways that exceeded the doomed casino's appraised value (as revealed by a Vestin-commissioned appraisal that miraculously emerged when the Castaways filed for bankruptcy*), I did some digging into Vestin's financials. … Continue reading
Posted in Boyd Gaming, Harrah's, Morgans Hotel Group, Station Casinos, The Strip, Wall Street
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More bankruptcies predicted
Financial Week weighs in the casino industry's current doldrums, amplifying the newly recurrent refrain that the revenue diversification which we thought would shield Las Vegas and other destination markets from the bad times is instead increasing its exposure to same. … Continue reading
Posted in Boyd Gaming, Herbst Gaming, Indiana, Morgans Hotel Group, Sheldon Adelson, The Strip, TV, Wall Street
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Don't tax me, bro!
Guess who's kvetching about his property tax bill? Why it's our old buddy, Columbia Sussex CEO William J. Yung III — or at least his surrogates at Horizon Vicksburg. It's been the better part of a year since Yung announced … Continue reading
Posted in Atlantic City, Columbia Sussex, Kansas, Mississippi, Morgans Hotel Group, Pennsylvania, Pinnacle Entertainment, Sheldon Adelson, Taxes, Tribal
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Boyd Has Brass Balls
Yesterday, I got a hint that Something Big was going to be announced in today’s Boyd Gaming earnings report. Little did I suspect it would be the completely unprecedented (in my recollection) step of halting a megaresort project in mid-stream … Continue reading
Posted in Boyd Gaming, Morgans Hotel Group, Riviera, The Strip, Wall Street
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