Category Archives: Ohio

Paradox at Revel; Further delay in Massachusetts

Posted on March 17, 2015 by David McKee

Florida developer Glenn Straub remains thwarted in his attempts to purchase Revel. His primary obstacle is Judge Gloria Burns, who seems bent upon charting a course for Chapter 7 liquidation. Although, out of 20 bids, Straub’s is the only one … Continue reading →

Posted in Foxwoods, Glenn Straub, Hard Rock International, Harrah's, Macau, Massachusetts, Ohio, Regulation, Revel, Station Casinos, Westgate LV | Comments Off

Elaine Wynn prepares for battle; Sunny days in Detroit

Posted on March 11, 2015 by David McKee

“The company’s success has been one of my life’s main passions, and I bring that attitude to my role as a director each and every day.” So wrote Elaine Wynn, as she gears up for a proxy fight to remain … Continue reading →

Posted in Dan Gilbert, Detroit, Economy, MGM Mirage, Ohio, Steve Wynn, The Strip, Wall Street | Comments Off

Trump’s hollow victory; Seminoles make new friends

Posted on March 10, 2015 by David McKee

In a display of either weakness or stupidity, Carl Icahn has caved in to Donald Trump and reached an agreement to keep the TV star’s name on Trump Taj Mahal. As anyone who’s followed the dwindling of the Trump empire from … Continue reading →

Posted in Atlantic City, Carl Icahn, Donald Trump, Florida, Harrah's, Marketing, Ohio, Penn National, Politics, Tribal, Trump Entertainment Resorts | 3 Comments

Big Gaming speaks

Posted on March 9, 2015 by David McKee

Last week, the great and powerful of the casino industry attended a show-and-tell at the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum. Here’s what they had to say … Wynn Resorts: The company is looking to make … Continue reading →

Posted in Atlantic City, Boyd Gaming, Economy, Genting, James Packer, Japan, Louisiana, Macau, Massachusetts, MGM Mirage, Ohio, Penn National, Politics, Problem gambling, Rhode Island, Singapore, Steve Wynn, The Strip, Wall Street | Comments Off

First big hurdle in Indiana cleared

Posted on March 2, 2015 by David McKee

Both the Indiana state Senate and Gov. Mike Pence (R) could still nix the deal, but the Indiana House of Representatives voted 76-19 to put riverboat casinos ashore and OK live dealers at the state’s Indiana Grand and Hoosier Park racinos. … Continue reading →

Posted in Boyd Gaming, Genting, Hard Rock International, Harrah's, Indiana, Internet gambling, Isle of Capri, Macau, Mississippi, New York, Ohio, Pennsylvania, Politics, Racinos, Regulation, Sheldon Adelson, Singapore, South Dakota | Comments Off

Caesars quits Ohio; Adelson’s Iran problem

Posted on March 2, 2015 by David McKee

Caesars Entertainment‘s portfolio is lighter to the tune of two Ohio casinos and a racino. The beleaguered company sold its 20% in Horseshoe Cleveland, Horseshoe Cincinnati and ThistleDown Racino to majority shareholder Rock Ohio Ventures, giving Dan Gilbert full control … Continue reading →

Posted in Dan Gilbert, GTECH, Hard Rock Hotel, Harrah's, IGT, International, Kentucky, Maryland, Ohio, Racinos, Regulation, Sheldon Adelson, Technology, Warner Gaming | 2 Comments

Midwest casino follies

Posted on February 25, 2015 by David McKee

Indiana municipalities caught a break when the state House of Representatives voted against scrapping the state’s $3 admission tax, which goes to casino-hosting localities. That keeps $200 million in the kitty of jurisdictions like LaPorte County, home to Boyd Gaming‘s … Continue reading →

Posted in Boyd Gaming, Environment, GLPI, Illinois, Indiana, Iowa, Ohio, Politics, Racinos, Regulation, Taxes | Comments Off

Pence’s and Markell’s tunnel vision

Posted on February 13, 2015 by David McKee

Indiana Gov. Mike Pence (R) may be swimming against the tide when he opposes casino reforms that he slimes as gambling expansions. For instance, for safety reasons alone, moving riverboat casinos ashore is an idea that was overdue 10 years … Continue reading →

Posted in Dan Lee, Delaware, Indiana, Marketing, Ohio, Racinos, Taxes | Comments Off

Golden, Scientific on the move

Posted on January 26, 2015 by David McKee

Golden Gaming continues to absorb its competitors. Its latest acquisition is Lakes Entertainment, one of the most venerable names in Midwestern gambling. Golden will pay a 37% premium to purchase Lakes at $9.57 a share. While 64% of shareholders will … Continue reading →

Posted in Bally Technologies, Golden Gaming, Horseracing, IGT, Kentucky, Maryland, Ohio, Scientific Games, Slot routes, Technology, Wall Street, WMS Industries | Comments Off

Stir crazy in Massachusetts

Posted on January 23, 2015 by David McKee

For all the restrictions it has placed upon its casinos, there’s one restraint the Massachusetts Gaming Commission wants to ease. It has proposed raising the $600 ‘IRS lockdown’ imposed on slot winners: “a player will not be able to play … Continue reading →

Posted in Environment, Louisiana, Massachusetts, Ohio, Penn National, Regulation, Rhode Island, Taxes | Comments Off

Buckeye State bullseye

Posted on January 7, 2015 by David McKee

Ohio casinos and racinos posted spectacular figures last month. By the calculations of Deutsche Bank analyst Carlo Santarelli, revenues were up 37% (or 18% on a same-store basis). Horseshoe Cleveland, up 16.5%, was also the top grosser — $21 million, … Continue reading →

Posted in Atlantic City, Hard Rock International, Harrah's, International, Japan, Maine, Ohio, Penn National, Racinos, The Strip, Wall Street | Comments Off

The genius of Wynn; Wilmot charges ahead

Posted on December 19, 2014 by David McKee

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 | Comments Off

Indiana giveth, Ohio taketh away; Atlantic City fix finds wide support

Posted on December 9, 2014 by David McKee

Depending on whether or not you count free play as taxable revenue, Indiana was down 6% or 7% last month, with customers spending 3% more but visiting 9.5% less. Penn National Gaming‘s Hollywood Lawrenceburg took cross-border competition particularly hard, falling … Continue reading →

Posted in Atlantic City, Boyd Gaming, Current, Harrah's, Indiana, Kentucky, Ohio, Penn National, Pinnacle Entertainment, Politics, Sheldon Adelson, Taxes, Tropicana Entertainment | 1 Comment

Illinois disappoints, Ohio surprises and Golden Nugget opens early

Posted on December 8, 2014 by David McKee

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 →

Posted in Boyd Gaming, Genting, GLPI, Hard Rock International, Harrah's, Illinois, Louisiana, MGM Mirage, MTR Gaming, Neil Bluhm, New York, Ohio, Penn National, Pinnacle Entertainment, Racinos, Tilman Fertitta | 1 Comment

Loveman’s credit capers; Green shoots in flyover country

Posted on December 1, 2014 by David McKee

Reorganization of Caesars Entertainment promises to continue to provide drama. UMB Bank threw red meat on the barbeque with a lawsuit that charged Apollo Management and Texas Pacific Group with having “thoroughly ransacked CEOC in a sweeping and now transparent plan … Continue reading →

Posted in Atlantic City, Boyd Gaming, Economy, Harrah's, Isle of Capri, Louisiana, Maryland, Ohio, Penn National, Pinnacle Entertainment, Regulation, The Strip, Tilman Fertitta, Wall Street, World Series of Poker | 6 Comments

Case Bets

Posted on November 20, 2014 by David McKee

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 | Comments Off

Caesars: How do they do it?

Posted on November 11, 2014 by David McKee

This just in: Working with “key senior creditors,” Caesars Entertainment Operating Co. is reported to be arranging a prepackaged bankruptcy, with a target date of Jan. 14. How does Gary Loveman keep his job? If he were a cat, he’d … Continue reading →

Posted in Atlantic City, Economy, Harrah's, Macau, Ohio, Regulation, The Strip, Wall Street, World Series of Poker | Comments Off

Penn: The world according to GARP

Posted on November 11, 2014 by David McKee

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 | Comments Off

Ohio’s big haul; NY Times’ whack job

Posted on November 10, 2014 by David McKee

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 | Comments Off

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