Category Archives: Ohio

Pinnacle sees Kasich, raises him $45 million

Posted on December 1, 2010 by David McKee

Pinnacle Entertainment pushed $45 million worth of chips into the middle of the poker table that is Ohio last week. Buying River Downs is a seven-figure wager that Gov.-elect Jon Kasich will resume outgoing Gov. Ted Strickland‘s push for VLTs … Continue reading →

Posted in Economy, Election, International, Macau, MGM Mirage, Ohio, Pinnacle Entertainment, Racinos, Regulation, Sheldon Adelson, Station Casinos, Tribal | Comments Off on Pinnacle sees Kasich, raises him $45 million

Harrah’s: Furtive Friday

Posted on November 21, 2010 by David McKee

Two days after sending CEO Gary Loveman out to change the conversation by hollering at the assembled masses in an inchoate G2E address, Harrah’s Entertainment quietly scuttled that much-talked-about IPO, evidently for fear it would be under-subscribed. Since the stated … Continue reading →

Posted in Current, G2E, Harrah's, Ohio, Pennsylvania, The Strip, Wall Street | 4 Comments

What if they held an implosion and nobody came?

Posted on November 9, 2010 by David McKee

Tropicana Las Vegas CEO Alex Yemenidjian has played the publicity game very astutely of late. So it’s hard to imagine what he was thinking when he decided to implode a wing of low-rise hotel rooms in the dead of night … Continue reading →

Posted in Alex Yemenidjian, Architecture, Current, Economy, Harrah's, Marketing, MGM Mirage, Ohio, The Strip | 4 Comments

Election 2010: Around the horn

Posted on November 3, 2010 by David McKee

Let’s get to it, with some help from Wells Fargo gaming analyst Carlo Santarelli … Cordish Gaming won big in Maryland, where voters upheld an initiative to ratify the zoning of its Arundel Mills Mall casino project. Penn National Gaming, … Continue reading →

Posted in Ameristar, Bally Technologies, California, Cordish Co., Economy, Election, Harrah's, IGT, International, Iowa, Isle of Capri, Maryland, Massachusetts, Missouri, New York, Ohio, Penn National, Pennsylvania, Politics, Racinos, Tribal, Wall Street, West Virginia, WMS Industries | 3 Comments

Last-minute election tidbits: Ohio & California

Posted on November 2, 2010 by David McKee

Prospects for expansion of VLT gambling to the Buckeye State’s racetracks are looking slightly better now that Ohio Gov. Ted Strickland has inched his way back into contention with GOP rival Jon Kasich (left). The personable Kasich is a difficult … Continue reading →

Posted in California, Economy, Election, Environment, Harrah's, Ohio, Penn National, Politics, Racinos, Regulation, Sports, Station Casinos, Texas, Tribal | 6 Comments

Harrah’s on new spending spree

Posted on October 18, 2010 by David McKee

As predicted and dreaded by skeptical bond analysts, proceeds from Harrah’s Entertainment‘s semi-IPO of 17% of the company, it has been officially disclosed, will be rolled into retail therapy for CEO Gary Loveman. An anticipated $575 million will be used … Continue reading →

Posted in Colony Capital, Current, Economy, Entertainment, Fontainebleau, George Maloof, Harrah's, Ohio, Penn National, Pennsylvania, Regulation, The Strip, TV, Wall Street | 1 Comment

Kerkorian’s mixed message; Winners & Losers

Posted on October 13, 2010 by David McKee

Earlier this week, Hudson Securities analyst Robert LaFleur — something of a maverick in the gaming sector — voiced doubts about MGM Resorts International‘s ability to sustain its debt covenants. With an overhang of $13 million in debt, few properties … Continue reading →

Posted in Atlantic City, Boyd Gaming, CityCenter, Current, Detroit, Economy, Harrah's, International, Louisiana, M Resort, Macau, MGM Mirage, Morgans Hotel Group, Neil Bluhm, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Reno, Sheldon Adelson, The Strip, Tourism, Tribal, Vdara Death Ray, Wall Street | 4 Comments

No (M)irage this time: Penn enters Vegas

Posted on October 8, 2010 by David McKee

They’ve been busy little beavers at Penn National Gaming, which is — would you believe it? — now the third-largest operator in the U.S. Never mind that Penn bought a horse track in Ohio, on top of building two casinos … Continue reading →

Posted in Atlantic City, Carl Icahn, Current, Donald Trump, Fontainebleau, Harry Reid, Louisiana, M Resort, Marketing, Maryland, MGM Mirage, Ohio, Penn National, Pennsylvania, Station Casinos, Steve Wynn, Texas, Wall Street, West Virginia | 7 Comments

Off to the races

Posted on September 10, 2010 by David McKee

Several gubernatorial jousts have serious implications for casino expansion in this great U.S. of A. In Ohio, Gov. Ted Strickland (D and once tipped as a possible vice-president) is trailing former Rep. John Kasich (R), based on poll results aggregated … Continue reading →

Posted in Alabama, Atlantic City, Economy, Election, Harrah's, Iowa, Maryland, Massachusetts, Minnesota, Ohio, Penn National, Politics, Racinos, Regulation, Texas, Tribal | 1 Comment

Caesars Cincinnati? Invaders repulsed at Gettysburg (again)

Posted on August 18, 2010 by David McKee

Here at S&G, we think the Caesars brand is more than worthy of the Queen City. Others don’t share our enthusiasm. Using the Horseshoe hoofprint doesn’t make sense, given that Harrah’s Entertainment rather expensively deployed that just downriver in Evansville. … Continue reading →

Posted in Harrah's, history, Illinois, International, Kansas, Lyle Berman, Missouri, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Regulation, Tribal | 6 Comments

Who needs M most?; Station’s glass jaw

Posted on August 17, 2010 by David McKee

In a shocker of a scoop, The Newspaper That Must Not Be Cited revealed yesterday that a $700 million stake in $1 billion M Resort was being shopped around by the resort’s lead banker. While this probably says more about … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, California, Carl Icahn, Colony Capital, Cosmopolitan, Current, Downtown, Economy, Kansas, M Resort, Maryland, MGM Mirage, Michael Gaughan, North Las Vegas, Ohio, Penn National, Pinnacle Entertainment, Riviera, Station Casinos, The Strip, Tourism, Tropicana Entertainment, Wall Street | 8 Comments

The Summer of Love(man)

Posted on August 12, 2010 by David McKee

It may be hard to believe in retrospect, but at the time of Harrah’s Entertainment‘s LBO, some analysts thought it would be partly amortized by selling off the company’s regional properties. That prompted me to write something to the effect … Continue reading →

Posted in Atlantic City, Australia, Current, Detroit, Dining, Economy, Entertainment, Harrah's, history, Horseracing, Kansas, Marketing, Ohio, Racinos, Regulation, Station Casinos, Taxes, Tourism, Tribal, Wall Street | 2 Comments

Your questions, answered

Posted on July 16, 2010 by David McKee

Paul Shanahan writes (in part): I think Fontainebleau would have looked much better if it was around 500 feet high instead of being close to 730 feet. It looks bulky and just kind of bizarre down there at the north … Continue reading →

Posted in Architecture, Atlantic City, Current, Donald Trump, Environment, Fontainebleau, Harrah's, Massachusetts, Michael Gaughan, Mississippi, Ohio, Racinos, Sheldon Adelson, Steve Wynn, The Mob | 5 Comments

Aqueduct: Penn screws the pooch

Posted on July 7, 2010 by David McKee

Since tout  le monde is fixated upon where LeBron James will play next season (is it OK for me to say I don’t care?), this seems like the moment to observe that Penn National Gaming bricked an easy layup. That’s … Continue reading →

Posted in Atlantic City, Cannery Casino Resorts, Current, Economy, Entertainment, Genting, Harrah's, Horseracing, International, New York, Ohio, Penn National, Pennsylvania, Racinos, Regulation | 1 Comment

Aqueduct: Then there were three

Posted on June 30, 2010 by David McKee

As the contentious racino contract for Aqueduct Racetrack is rebid, the field has narrowed to three suitors, all of whom are in enviable cash positions. Penn National Gaming‘s bankroll has taken on Holy Grail status, Genting Bhd has a money-spinner … Continue reading →

Posted in Atlantic City, California, Columbia Sussex, Cordish Co., Current, Election, Florida, Genting, Harrah's, history, Lake Tahoe, Maryland, Massachusetts, New York, Ohio, Penn National, Pennsylvania, Politics, Problem gambling, Racinos, Regulation, Reno, Taxes, Tribal | 1 Comment

Penn’s door prize: toxic waste!

Posted on June 29, 2010 by David McKee

Penn National Gaming got a little something extra when it bought an old General Motors site for its Columbus, Ohio casino: 81 sites’ worth of toxic waste, so much sludge it takes 3,000 pages to catalog. Penn didn’t have to … Continue reading →

Posted in Colony Capital, Current, Detroit, Election, Entertainment, Environment, Harrah's, Massachusetts, MGM Mirage, Ohio, Penn National, Politics, Racinos, Regulation, Sahara, Technology, The Strip, Tribal, TV | 3 Comments

Case Bets: Station, Macao, Maryland, Missouri, Mississippi, Encore 2x, etc.

Posted on June 1, 2010 by David McKee

$864.5 million: That’s the magic number if you want to put in an opening bid on 11 Station Casinos properties (plus unspecified land and some tribal-casino-management contracts) come Aug. 6. Boyd Gaming‘s already made it clear that it’s good for … Continue reading →

Posted in Ameristar, Bally Technologies, Boulder Strip, Boyd Gaming, Colony Capital, Current, Economy, Encore, Entertainment, Harrah's, Horseracing, International, Isle of Capri, Macau, Maryland, Mississippi, Missouri, Ohio, Pinnacle Entertainment, Racinos, Regulation, Station Casinos, Steve Wynn, Taxes, The Strip, Tourism, Tribal, Wall Street | 1 Comment

Harrah’s, Penn & pols play chess in Ohio

Posted on May 27, 2010 by David McKee

Even as Harrah’s Entertainment was closing its purchase of an Thistledown Race Track, lawmakers were moving to foreclose the prospect of racinos in that state. This doesn’t preclude Buckeye State voters for approving as many as seven racinos this fall, … Continue reading →

Posted in Current, Harrah's, Horseracing, Ohio, Penn National, Politics, Racinos, Regulation, Taxes | Comments Off on Harrah’s, Penn & pols play chess in Ohio

Gary Loveman, pauper

Posted on May 26, 2010 by David McKee

Count Harrah’s Entertainment CEO Gary Loveman among the victims of the Great Recession. His total compensation for 2009 plummeted over 85%. The $1.9 million base pay is old news; the ex-prof also had to settle for a mere $3 million … Continue reading →

Posted in Boyd Gaming, Cosmopolitan, Economy, Election, Harrah's, Horseracing, Ohio, Penn National, Racinos, Technology, The Strip, Wall Street | 3 Comments

Tribal gambling comes to Ohio?

Posted on May 19, 2010 by David McKee

Voter approval of a quartet of casinos last November theoretically opens the door to Class III tribal gambling in Ohio. However, this pitch from the Delaware Tribe is likely to bounce in front of the plate and roll all the … Continue reading →

Posted in Ohio, Oklahoma, Regulation, Tribal | 1 Comment