Category Archives: Penn National

Macao junketeers left holding the bag; Lionel Richie wows the ladies

Posted on April 28, 2016 by David McKee

We could see another shakeout in Macao junket operators. According to Daiwa Securities Group, most of the industry is “struggling just to break even.” Part of that problem is that they’re carrying almost $3,9 billion in bad debt — and you … Continue reading →

Posted in Australia, Economy, Entertainment, Foxwoods, International, Macau, Marketing, Melco Crown Entertainment, Mohegan Sun, Penn National, Planet Hollywood, Regulation, Sheldon Adelson, South Dakota, Sports, Steve Wynn, Taxes, The Strip, Tribal, Wall Street | Comments Off on Macao junketeers left holding the bag; Lionel Richie wows the ladies

It’s official: Boyd buys Cannery; Massachusetts’ agonizing dilemma

Posted on April 26, 2016 by David McKee

Confirming the worst-kept secret in Las Vegas, suddenly acquisitive Boyd Gaming announced that it was buying out Cannery Casino Resorts. The price ($230 million) was toward the lower end of Wall Street had predicted for the deal and means the … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, Cannery Casino Resorts, Downtown, Economy, Massachusetts, Neil Bluhm, North Las Vegas, Penn National, Regulation, Taxes, The Strip, Tourism, Tribal, Wall Street | Comments Off on It’s official: Boyd buys Cannery; Massachusetts’ agonizing dilemma

Ethnic insensitivity in Oregon; Penn’s last stand in Iowa

Posted on April 20, 2016 by David McKee

A TV ad campaign for Oregon state-sponsored VLTs has riled up the Coquille Indian Tribe, not least because it depicts the Lewis & Clark Expedition happening upon video gaming in wilderness that has been ethnically cleansed of Native Americans. Coquille Chairman … Continue reading →

Posted in California, Delaware, Economy, Internet gambling, Iowa, Macau, Marketing, Penn National, Regulation, Tourism, Transportation, Tribal, Warner Gaming | Comments Off on Ethnic insensitivity in Oregon; Penn’s last stand in Iowa

Reversal in Jersey City; Tables buoy Pennsylvania grosses

Posted on April 19, 2016 by David McKee

Shoe mogul Paul Fireman‘s plan to build a $4.6 billion megaresort in Jersey City is losing the support of Mayor Steve Fulop (D). New Jersey State Building & Construction Trades Council President William T. Mullen was sent into a howl of … Continue reading →

Posted in Atlantic City, California, GLPI, Greenwood Racing, Harrah's, Isle of Capri, Mohegan Sun, Neil Bluhm, Penn National, Pennsylvania, Politics, Racinos, Sheldon Adelson, Taxes | Comments Off on Reversal in Jersey City; Tables buoy Pennsylvania grosses

Station: New name, same old shtick

Posted on April 19, 2016 by David McKee

We’re going to have to get used to calling Station Casinos by its new corporate moniker, Red Rock Resorts (ticker symbol RRR). Oh, the Station brand isn’t going anywhere: For consumer-oriented purposes, all the Stations and Wildfires and so on … Continue reading →

Posted in Golden Gaming, Law enforcement, Massachusetts, Penn National, Reno, Slot routes, Station Casinos, Wall Street | Comments Off on Station: New name, same old shtick

Icahn promises little, gets OK’d anyway; Tribal generosity in California

Posted on April 14, 2016 by David McKee

Carl Icahn is officially the owner of Trump Taj Mahal, having received the blessing of the New Jersey Casino Control Commission. The OK was given despite Icahn’s having reneged on his promise of a $100 million capex infusion into the … Continue reading →

Posted in Alabama, Atlantic City, California, Carl Icahn, Donald Trump, Genting, International, Penn National, Tribal, Tropicana Entertainment | Comments Off on Icahn promises little, gets OK’d anyway; Tribal generosity in California

Sexcapade case closed; GLPI/Pinnacle deal a certainty

Posted on April 12, 2016 by David McKee

Followers of jurisprudence will be denied one of the more prurient evidentiary hearings in history now that Vegas High Roller sexpot Chloe Scordianos has decided to plead guilty to disorderly conduct rather than face trial for committing sex acts in … Continue reading →

Posted in Ameristar, Architecture, Entertainment, Environment, GLPI, Harrah's, history, Illinois, Law enforcement, Missouri, Penn National, Pinnacle Entertainment, Regulation, Riviera, Steve Wynn, The Strip, Tropicana Entertainment | Comments Off on Sexcapade case closed; GLPI/Pinnacle deal a certainty

Lobbyists win in Atlantic City fight; Untimely reprimand for Bluhm

Posted on April 12, 2016 by David McKee

As Atlantic City fights to maintain its monopoly on casino gambling in New Jersey, it’s getting a lot of help from casino companies themselves — and lobbyists are making out like bandits. The biggest spender to date has been Caesars … Continue reading →

Posted in Atlantic City, Australia, Boyd Gaming, Downtown, Election, Entertainment, Genting, Greenwood Racing, Harrah's, Illinois, LVCVA, Massachusetts, MGM Mirage, Neil Bluhm, Penn National, Pennsylvania, Regulation, Sheldon Adelson, Singapore, Tourism, Transportation, Tribal | Comments Off on Lobbyists win in Atlantic City fight; Untimely reprimand for Bluhm

Penn talks turkey; Celebrity brawl at Aria

Posted on April 11, 2016 by David McKee

Next week Penn National Gaming turns on the Marquee Rewards spigot at the Tropicana Las Vegas. Given some of management’s recent disclosures, it won’t come a day too soon: 85% of Penn’s customer base comes to Sin City but stays … Continue reading →

Posted in Affinity Gaming, Ameristar, Boyd Gaming, CityCenter, Cordish Co., Full House Resorts, Harrah's, Indiana, Isle of Capri, Majestic Star, Marketing, Maryland, Massachusetts, MGM Mirage, Missouri, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Steve Wynn, Taxes, The Strip, Tourism, Tribal, Tropicana Entertainment, Wall Street, West Virginia | 1 Comment

Penn trumps Caesars in Ohio

Posted on April 7, 2016 by David McKee

Hard Rock Rocksino regained its top spot in Ohio last month, grossing just over $20 million (+9%). Just imagine what it could do if it had table games. The Caesars Entertainment/Dan Gilbert trifecta continued to underperform, with a flat month … Continue reading →

Posted in Dan Gilbert, Hard Rock International, Harrah's, New York, Ohio, Penn National, Pinnacle Entertainment, Racinos, Taxes, Tribal, Wall Street | Comments Off on Penn trumps Caesars in Ohio

Unhappy Easter in Illinois; Money-laundering mess in Sparks

Posted on April 7, 2016 by David McKee

Easter, if you can believe it, is being blamed for a 2% decline in Illinois casino revenues last month. Argosy Belle continued to be the problem child of the state, down 13% (to $5 million). Slot-route competition continued to do … Continue reading →

Posted in Boyd Gaming, Cordish Co., Dan Gilbert, GLPI, Harrah's, Illinois, International, Internet gambling, Laughlin, Law enforcement, Macau, Maryland, MGM Mirage, Penn National, Racinos, Regulation, Riviera, The Strip, Tourism | 1 Comment

Wynn’s big surprise; T-Mobile disappoints

Posted on April 7, 2016 by David McKee

As though seeking to steal the thunder from T-Mobile Arena, the ever-clever Steve Wynn used yesterday’s earnings call investor showcase to roll out a new project. If you have a spare $500, then use it to play Wynn Golf Club as … Continue reading →

Posted in Architecture, Entertainment, Genting, James Packer, Macau, Massachusetts, MGM Mirage, Penn National, Sam Nazarian, Steve Wynn, The Strip, Wall Street, Wayne F. Newton | 1 Comment

Genting comes to Massachusetts; Trump impasse on the Strip

Posted on April 5, 2016 by David McKee

As the Mashpee Wampanoag were preparing to break ground on Project First Light, halfway around the world Genting Malaysia was revealing the details of its management contract with the tribe. Genting holds a seven-year pact, by way of its Genting … Continue reading →

Posted in Culinary Union, Donald Trump, Election, Genting, Geoff Freeman, Massachusetts, Penn National, Phil Ruffin, Sports, Steve Wynn, Taxes, The Strip, Tribal | Comments Off on Genting comes to Massachusetts; Trump impasse on the Strip

Shady dealings in D.C.; New bromance between GLPI and Pinnacle

Posted on April 4, 2016 by David McKee

Voters in Washington, D.C., could find themselves voting on a casino initiative this November. A 9,000-square-foot gambling house has been proposed for Anacostia. It would have slots, blackjack and other table games but, strangely enough, no slots or electronic table … Continue reading →

Posted in Architecture, Delaware, Election, Florida, GLPI, International, Macau, Massachusetts, MGM Mirage, Neil Bluhm, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Regulation, Sheldon Adelson, Sports, The Strip, Tourism, Tribal | 1 Comment

Complications at the Riviera; PokerStars a hit in New Jersey

Posted on April 1, 2016 by David McKee

Implosion of the Riviera could occur as early as June, so doesn’t hesitate to have your  picture taken in front of it. However, the timeline could be extended by a number of complications. Now that a demolition firm has been … Continue reading →

Posted in Atlantic City, Boyd Gaming, Internet gambling, LVCVA, Massachusetts, MGM Mirage, Mohegan Sun, Oklahoma, Penn National, Regulation, Riviera, Steve Wynn, Technology, The Strip, Tribal | Comments Off on Complications at the Riviera; PokerStars a hit in New Jersey

Penn accentuates the positive

Posted on March 29, 2016 by David McKee

“Wait ’til next year” seems to be Penn National Gaming‘s mantra for the Tropicana Las Vegas. At present, the company is still installing Marquee Rewards, replacing older slot machines and getting out of any leased-game arrangements. It doesn’t expect any … Continue reading →

Posted in California, Cordish Co., Dan Gilbert, Economy, Harrah's, Illinois, Internet gambling, Marketing, Maryland, Massachusetts, MGM Mirage, Penn National, PokerStars, Slot routes, The Strip, Tribal, Wall Street, West Virginia | Comments Off on Penn accentuates the positive

Kasich, gambling opponents clash; Boffo month for Pennsylvania

Posted on March 25, 2016 by David McKee

Ohio Gov. John Kasich (R) went 1-1 in legal challenges to his decision to widen the Buckeye State’s casino industry, including his permission of VLTs at the state’s racinos, a move that broke the Caesars Entertainment/Penn National Gaming duopoly on … Continue reading →

Posted in GLPI, Greenwood Racing, Harrah's, Isle of Capri, Mohegan Sun, Neil Bluhm, Ohio, Penn National, Pennsylvania, Problem gambling, Sheldon Adelson | Comments Off on Kasich, gambling opponents clash; Boffo month for Pennsylvania

Setback for Penn; New problem for Atlantic City

Posted on March 24, 2016 by David McKee

It was Iowa Racing & Gaming Commission 1, Penn National Gaming 0 in an Iowa appellate court. Penn had been trying to get the license of its Belle of Sioux City reinstated, claiming it was deprived of due process. That … Continue reading →

Posted in Atlantic City, Iowa, MGM Mirage, Neil Bluhm, New York, Penn National, Politics, Regulation, Taxes, Wall Street, Warner Gaming | Comments Off on Setback for Penn; New problem for Atlantic City

That impersonal touch; Big day for MGM

Posted on March 18, 2016 by David McKee

What is almost completely missing from this commercial? Caesars Entertainment guests are lengthily shown drinking, dining, riding the High Roller (which could use the traffic) and — as a very brief afterthought — gambling. So the company’s definitely on the … Continue reading →

Posted in California, CityCenter, Detroit, Dubai, Genting, Harrah's, International, LVCVA, MGM Mirage, Mississippi, Penn National, Regulation, Riviera, Taxes, Technology, The Strip, Tourism, Tribal, Wall Street | 1 Comment

Trouble at the Trop; Liberace resurgence in Vegas

Posted on March 18, 2016 by David McKee

After a methodical — or at least slow-moving — investigation, FBI agents dropped the hammer on Tropicana Las Vegas‘ resident illusionist, Jan Rouven. The latter is accused of felony child pornography, having allegedly had myriad violent child-porn images and videos … Continue reading →

Posted in ABBA, Alex Yemenidjian, Economy, Entertainment, history, Law enforcement, Penn National, Riviera, Steve Wynn, The Strip, Wayne F. Newton | Comments Off on Trouble at the Trop; Liberace resurgence in Vegas