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Category Archives: New York
Wynn proceeds in Boston, Genting stalls in Miami
Although Steve Wynn‘s Everett project is besieged with lawsuits, a member of the Massachusetts Gaming Commission is relatively sanguine about the resort’s prospects. “I don’t think necessarily the suit will delay it; I think it is the various permit-granting authorities … Continue reading
Posted in Florida, Genting, International, Massachusetts, New York, Regulation, Sports, The Strip
1 Comment
Turning point for Illinois?; Cuomo creates a mess
Santa Claus was extra generous to casinos in Illinois last month (and they sure could use a little Kringle largesse). Revenues grew to 6%, visitation was up 5% and spend per visitor rose 1%. All that added up to a … Continue reading
New Yorkers want a do-over; Another EuroVegas folds
Magnanimously, Traditions at the Glen partner — and losing casino bidder — Peter Walsh is throwing his support to racino mogul Jeff Gural. The latter is trying to pry New York‘s fourth and last new-casino license loose from New York State’s … Continue reading
Posted in California, Delaware, Economy, Genting, Hard Rock International, Harrah's, International, Internet gambling, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, New York, Pennsylvania, Philippines, Politics, Racinos, Tribal, Wall Street
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Hello, Yellow Brick Road; Packer’s big plan
New York‘s Oneida Indian Nation was quick to counterpunch at last week’s private-sector casino expansion. They plan to open 436-slot, 250-job Yellow Brick Road Casino in L. Frank Baum‘s hometown of Chittenango, N.Y. Thanks to the terms of their compact with the state, … Continue reading
Posted in Architecture, Australia, Harrah's, Horseracing, James Packer, Marketing, MGM Mirage, New York, Racinos, The Strip, Tribal
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Big and Little Caesars strike again; Atlantic City’s monopoly in danger
Last weekend, Caesars Entertainment confirmed what we already expected: It will file bankruptcy for Caesars Entertainment Operating Co. next month, in what the New York Times called “an ignominious milestone for what was one of the biggest buyouts of the … Continue reading
Posted in Atlantic City, Election, Harrah's, Horseracing, New York, Politics, Wall Street
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Macao: Pressure for change; Stanley Ho into South Korea?
Despite having only one-tenth as many hotel rooms as Las Vegas, the enclave of Macao is feeling the pressure to develop a more tourism-oriented business model. China’s president, Xi Jinping visited Macao last weekend and dropped a few strong hints. … Continue reading
Posted in Cirque du Soleil, Harrah's, International, Macau, Marketing, New York, Politics, Sheldon Adelson, South Korea, Stanley Ho, Tourism
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The genius of Wynn; Wilmot charges ahead
Steve Wynn doesn’t wrap his hotels in bronze glass just because he likes the color. No, he has determined that the light passing through it makes his guests look more attractive “in rooms that have warmer light … One of the … Continue reading
Posted in Architecture, Entertainment, LVCVA, Massachusetts, New York, Ohio, Regulation, Steve Wynn, Tourism
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Many called, few chosen for New York casinos
Count mega-budget offerings from Genting Group and Caesars Entertainment among the marquee-name dismissals in the New York Gaming Facility Location Board‘s final cut of casino applicants. Also going into the circular file were a second Genting project (Resorts World Hudson Valley), along with … Continue reading
Posted in Churchill Downs, Cordish Co., Economy, Genting, Hard Rock International, Harrah's, Horseracing, International, Mohegan Sun, Neil Bluhm, New York, Penn National, Racinos, Taxes, Tribal
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Captain Loveman’s sinking ship
As was widely expected, Caesars Entertainment defaulted on a $225 million interest payment, setting the stage for a prearranged bankruptcy. Company spokesman Stephen Cohen said airily, “It’s clear Caesars has sufficient liquidity to make the payment, we just chose not to … Continue reading
Posted in Atlantic City, Genting, Harrah's, New York, Regulation, Wall Street
1 Comment
The war over Caesars
That Caesars Entertainment plan to subdivide itself into a REIT may be a one-week wonder: Creditors are reported to be balking at the structure. “The creditors want to make sure the REIT is structured in a way that protects them … Continue reading
Illinois disappoints, Ohio surprises and Golden Nugget opens early
Except for a mild, 2% increase at Harrah’s Joliet, it was a very schizoid November for Illinois, whose casinos came in 4% below last year. There was one less weekend day, which some will cite as an alibi … but then … Continue reading
Dotty’s loses, Genting hesitates, Penn adapts
Look at that picture. Seriously, keep looking. Does that seem like a tavern to you? A casino? Some curious hybrid? For years the Clark County Commission has been grappling with the vexing questions posed by the rapidly growing Dotty’s chain of … Continue reading
Posted in Architecture, Cordish Co., Dotty's, Downtown, Genting, Golden Gaming, Harrah's, Maryland, New York, Pennsylvania, Regulation, Station Casinos, The Strip
2 Comments
Chronicle of a bankruptcy, foretold
Dipping into Shakespeare, Howard Stutz endeavors to do justice to the Elizabethan complexity of the Caesars Entertainment bankruptcy. The fault is not in the stars but in Gary Loveman, architect of the disaster. When it was rolled out, back in … Continue reading
Palace coup at Full House
When you strike at the king, you must kill him — and dissident investor Dan Lee (left) was successful in deposing Andre Hilliou from his throne at Full House Resorts. “I would also like to thank Andre and Mark for their … Continue reading
Icahn’s olive branch
As the clock ticks down toward a Dec. 4 bankruptcy hearing at which Trump Entertainment Resorts could be dissolved, Carl Icahn is nothing if not optimistic. He continues to believe he can recoup the $286 million in debt he holds … Continue reading
SLS struggles to find its niche; Cordish knows its one
Granted, Sam Nazarian had to do something with the Sahara, but so far when SLS Las Vegas makes the headlines it’s with another piece of bad news. F&B offerings have been cut back and the nightclub program is struggling. Rationalizes … Continue reading
Posted in Boyd Gaming, Cordish Co., Dining, Genting, George Maloof, Harrah's, Maryland, New York, Regulation, Revel, Sahara, Sam Nazarian, The Strip
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Case Bets
A California tribe is getting into Internet gambling in a somewhat roundabout way. The Pala Indians are beta-testing PalaCasino.com, which will be run off the online platform of … Borgata. (Casinos in Atlantic City can host as many as five … Continue reading
Posted in Atlantic City, Boyd Gaming, California, Cosmopolitan, Economy, Entertainment, Harrah's, Internet gambling, New York, Ohio, Penn National, Regulation, The Strip, Tourism, Tribal
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Revel: Brookfield bails, Straub back in; A few good men
Like its predecessors at Revel, management at Brookfield US Holdings found itself with an albatross around its neck: the cost-intensive Inlet District Energy Center. The standalone power plant cost the resort $1.25 million a month. Brookfield hoped to reduce those costs … Continue reading
Posted in Atlantic City, Foxwoods, Genting, Glenn Straub, Harrah's, International, Internet gambling, Massachusetts, MGM Mirage, New York, Pennsylvania, Revel, Sports, Taxes, Tribal, Wall Street
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Philadelphia: No surprise here
As expected, the Pennsylvania Gaming Control Board gave the last Philadelphia casino license to a partnership of Cordish Gaming and Greenwood Gaming. The flashy Live! Hotel & Casino will nestle in the stadium area in the south part of town. “We’re … Continue reading
Posted in Atlantic City, Cordish Co., Economy, Foxwoods, Greenwood Racing, Harrah's, Mohegan Sun, Neil Bluhm, New York, Pennsylvania
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Penn: The world according to GARP
Observing stability in regional gaming markets, Deutsche Bank‘s Carlo Santarelli is out with a bullish investor note on Penn National Gaming today, declaring “the worst appears over.” He sets a $17 target price for the stock (currently trading just below … Continue reading
Posted in Election, Internet gambling, Massachusetts, New York, Ohio, Penn National, Pinnacle Entertainment, Racinos, Sheldon Adelson, Wall Street
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