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- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
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Category Archives: New York
Brainless in Connecticut; Jobless in Las Vegas
What do you do when your slot revenues are declining? Build more casinos, of course! That’s the idea Mohegan Sun is pushing in Connecticut, with the help of a few well-placed lawmakers. It’s a no-brainer … as in, you’d have … Continue reading
Posted in Boyd Gaming, Cosmopolitan, Dining, Foxwoods, Genting, Hard Rock International, Massachusetts, MGM Mirage, Mohegan Sun, New York, Sam Nazarian, Station Casinos, Taxes, The Strip, Tribal, Wisconsin
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Ohio’s big haul; NY Times’ whack job
Ohio has matured rapidly as a casino market, bigger than Illinois, almost as large as Missouri but still a long way from Indiana‘s monthly grosses. Still, a 38% increase in casino revenue from last year is nothing at which to … Continue reading
Posted in Hard Rock International, Harrah's, IGT, Mohegan Sun, MTR Gaming, New York, Ohio, Penn National, Pennsylvania, Racinos, Sheldon Adelson
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N.Y.: Accentuate the negative; Sheldon’s change of heart
“The economy is so depressed around here, anything is a plus. That’s how bad it is around here.” With that backhanded endorsement, the owner of Pepe’s Bar-B-Q in Binghamton, N.Y., gave his blessing to casinos in the area. In order to … Continue reading
Posted in CityCenter, Economy, Greenwood Racing, Hard Rock International, Illinois, MGM Mirage, Neil Bluhm, New York, Pennsylvania, Sheldon Adelson, Slot routes, The Strip
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Caesars’ shell game; Setback in Japan
“Extend and pretend.” Those are the words of gaming analyst Alan Woinski, describing the debt-management practices of Caesars Entertainment and CEO Gary Loveman: “they extended out the maturities and just put new debt on top of old debt, and the … Continue reading
Making sense of Pence; Dan Lee returns (again)
Taking a page from Wisconsin Gov. Scott Walker‘s playbook, Indiana Gov. Mike Pence (R) is trying to have it both ways: oppose “expansion” of gambling but refuse to define aforesaid expansion. With riverboat casinos pressing to come ashore, Pence has … Continue reading
Posted in Dan Lee, Indiana, Internet gambling, MGM Mirage, New York, Ohio, Palms, Pinnacle Entertainment, Politics
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Wynn: Think big; Genting: Spend big
When Steve Wynn opened The Mirage in 1989, it was the beginning of the end of the era when the casino was the dominant revenue source in Las Vegas resorts. Restaurants, shows and hotel rooms all became profit centers. But … Continue reading
Posted in Atlantic City, Entertainment, Florida, G2E, Genting, Harrah's, history, Macau, Massachusetts, MGM Mirage, New Hampshire, New York, Steve Wynn, The Strip
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Sanguine at Penn; Serrano goes Italian
Executives from Penn National Gaming were hosted by J.P. Morgan analysts this week at Global Gaming Expo and gave a fairly mellow outlook on business. Nationally, commerce is seen as stabilizing but not having bottomed out yet, although Penn is “holding … Continue reading
Posted in Architecture, Dining, Election, G2E, Harrah's, history, Maryland, Massachusetts, MGM Mirage, New York, Ohio, Penn National, Politics, Racinos, Regulation, Steve Wynn, The Strip, Wall Street, West Virginia
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Taking it to the streets in Massachusetts, New York
While polls show casino repeal losing by larger and larger margins, MGM Resorts International and Penn National Gaming are taking no chances. (Wynn Resorts, cravenly, is sitting it out.) In the first TV salvo of the fall campaign, MGM Springfield … Continue reading
Posted in Economy, Election, Genting, Harrah's, Massachusetts, MGM Mirage, New York, Penn National, Regulation, Steve Wynn, TV
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Bad news in New York and Macao
In a setback for all regions of New York State that are eligible for a casino (or two), the casino-siting board has made it clear it’s taking a serious look at the “up to four” clause in the licensing process. … Continue reading
Posted in Atlantic City, California, Economy, Illinois, Internet gambling, Macau, New York, Ohio, Pennsylvania, Regulation, Wall Street, West Virginia
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Inside Sands’ success; Furor in Fresno
The most baccarat tables per casino in the U.S. are to be found at — no kidding — Sands Bethlehem. The casino, which fields 50 baccarat tables grossed $18 million in table game revenue last month, a record amount for … Continue reading
Posted in California, Election, Greenwood Racing, Marketing, Massachusetts, Mohegan Sun, New York, Pennsylvania, Politics, Regulation, Sheldon Adelson, Station Casinos, Tribal, Wall Street
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‘I’m poorer than you are’
That’s the argument being reiterated in New York State, as impoverished cities and their would-be casino saviors fight for over one or (more likely) two casino licenses. Case in point: Newburgh, where Mayor Judy Kennedy (left) has become a media celebrity of … Continue reading
Posted in Architecture, Economy, Genting, Massachusetts, Mohegan Sun, New York, Regulation, Steve Wynn
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When a loss is a gain
Come this time next month, we could easily be reporting year/year gains in Atlantic City. Last month, as Revel and Showboat were winding down operations, the Boardwalk was only 1% off last year’s pace. Internet gambling played a role in … Continue reading
Boston: Another agonizing delay; Loveman: Don’t worry, be happy
Just when it looked like the suspense would be ended over who’d get the Boston-area casino, the slow-moving Massachusetts Gaming Commission imposed another week’s delay on the process. Basically, commissioners want Wynn Resorts to do better than it has in … Continue reading
Posted in Alabama, Architecture, Atlantic City, Cordish Co., Genting, Harrah's, history, Marketing, Massachusetts, Mohegan Sun, New York, Penn National, Pennsylvania, Regulation, Steve Wynn, Transportation
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Trump bookmarks Chapter 11; Christie’s canny moves
Trump Entertainment Resorts is back in familiar territory: Chapter 11. It is the fourth time that minority owner Donald Trump‘s casinos have gone insolvent. He may try to wash his hands of the mess, but he gets equity for the use … Continue reading
Big Apple, smaller bites; Checkmate on the Strip
“There will never be another Mohegan Sun. That’s the way the market has shifted.” So says Mohegan Tribal Gaming Authority CEO Mitchell Grossinger Etess on the smaller, economy-sized casinos he and his fellows will have to build in New York … Continue reading
Posted in Atlantic City, Economy, Harrah's, Mohegan Sun, New York, Planet Hollywood, The Strip
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Showboat, 1987-2014; Paris, 1999-????
In the end, the Showboat Atlantic City had a good run of it, lasting almost three decades on the Boardwalk. It succumbed, in part, to wounds inflicted by owner Caesars Entertainment, which cut into its customer base by building Harrah’s … Continue reading
The contradictions of Sam Nazarian
Is Sam Nazarian becoming a legend in his own mind? You have to wonder when you read that he’s had a statue of himself erected in the front of SLS Las Vegas. Sure, Bob Stupak did the same thing at … Continue reading
Posted in California, Cosmopolitan, Entertainment, Florida, Genting, International, Japan, Marketing, MGM Mirage, New York, Pennsylvania, Sahara, Sam Nazarian, The Strip, Wall Street
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Atlantic City: Worse to come
If you thought this year’s shrinkage of the Atlantic City casino market from 12 casinos to eight was bad, brace yourself. A Deutsche Bank report predicts more contraction to come. Resorts Atlantic City and Trump Taj Mahal have been marked … Continue reading
MGM’s comeback; Packer’s presumption
MGM Resorts International is feeling optimistic about getting back into Atlantic City (at a time when so many are getting out), to the point of talking about it publicly. “Borgata continues to be the market leader. We’re pretty excited to be able … Continue reading
Reality in Illinois, Indiana; Optimism in New York
Illinois has had far worse months than July, which was down only 5%. Admissions were off 9%, implying a 4% higher spend/visitor. Rivers Casino was flat but still managed to gross double what Harrah’s Joliet managed. The latter, however, was … Continue reading
Posted in Boyd Gaming, Delaware, Economy, Genting, Harrah's, Illinois, Indiana, Massachusetts, MGM Mirage, Neil Bluhm, New York, Penn National, Pinnacle Entertainment, Racinos, Tropicana Entertainment
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