Category Archives: Penn National

Decision time in Boston

Posted on September 9, 2014 by David McKee

At last, the Massachusetts Gaming Commission is taking up the Steve Wynn vs. Mohegan Sun battle for a Boston-area casino. Hearings began yesterday, with one round going to each challenger. Wynn Resorts surprisingly (given its reputation) lost the swimsuit competition, … Continue reading →

Posted in Architecture, Cordish Co., Environment, Harrah's, Internet gambling, Maryland, Massachusetts, Mohegan Sun, Penn National, Racinos, Singapore, Steve Wynn | Comments Off on Decision time in Boston

Can’t stop the consolidation

Posted on September 9, 2014 by David McKee

Continuing the shrinkage of the manufacturing sector, Global Cash Access is taking another chess piece — Multimedia Games — off the board. GCA will pay $1.1 billion for Multimedia, which specializes in VLTs for racinos and tribal markets.The price represented … Continue reading →

Posted in Arizona, Foxwoods, Hard Rock International, Harrah's, MTR Gaming, Ohio, Penn National, Pinnacle Entertainment, Racinos, Regulation, Technology, Tribal | Comments Off on Can’t stop the consolidation

Dispatches from Iowa and Illinois

Posted on September 8, 2014 by David McKee

August was a good month for Iowa, as casino revenues rose 4%. The big winner was Pinnacle Entertainment‘s Ameristar Council Bluffs, up 7% with a $15 million gross. Caesars Entertainment had mixed results, with Horseshoe Casino ($16 million) down 3% … Continue reading →

Posted in Boyd Gaming, Harrah's, Illinois, Iowa, Isle of Capri, MGM Mirage, Neil Bluhm, Penn National, Pinnacle Entertainment, Trump Entertainment Resorts, Warner Gaming | Comments Off on Dispatches from Iowa and Illinois

Sold down the river; Wynn makes critical offer

Posted on September 5, 2014 by David McKee

For sale: One casino riverboat, heavily used. Penn National Gaming asked for — and received — dismissal of a bankruptcy petition, opting to sell the Belle of Sioux City on the open market. You might think it would be difficult … Continue reading →

Posted in Derek Stevens, Dining, Downtown, Entertainment, Iowa, Massachusetts, Penn National, Regulation, Steve Wynn, The Strip | Comments Off on Sold down the river; Wynn makes critical offer

Sheldon goes Korean; More casinos for Maine?

Posted on September 3, 2014 by David McKee

Sheldon Adelson wants in on any expansion of South Korea‘s casino and he’s not above using a little muscle to do it. According to Managing Director of Global Development George Tanasijevich, his company, Las Vegas Sands would create “a truly iconic … Continue reading →

Posted in Maine, Massachusetts, New Hampshire, Penn National, Regulation, Sheldon Adelson, Singapore | Comments Off on Sheldon goes Korean; More casinos for Maine?

Narrow race in Massachusetts; Boffo biz in Alabama

Posted on September 2, 2014 by David McKee

No state that has ever approved casino gambling has repealed it in over 80 years. That being said, casinos are polling weakly in Massachusetts — with support hovering at 50% — and the opposition is getting cocky. A perversely worded … Continue reading →

Posted in Alabama, Architecture, Economy, Election, Florida, Massachusetts, MGM Mirage, Penn National, Regulation, Rhode Island, The Strip, Tribal | 1 Comment

Archon under fire again

Posted on September 2, 2014 by David McKee

Sue Lowden is back in the news, not for her political activities but as secretary and public face of Archon Gaming, whose 27 acres atop the Strip are a hot property again, following the opening of SLS Las Vegas. Dissident investor … Continue reading →

Posted in Archon Corp., Economy, Laughlin, Ohio, Penn National, Sam Nazarian, The Strip, Wall Street | Comments Off on Archon under fire again

Loveman’s big score; Slots come to Dayton

Posted on August 28, 2014 by David McKee

“You’re in Baltimore, baby, it says so right there, in big gray block letters on a smokestack at the trash plant just past the entrance.” Caesars Entertainment CEO Gary Loveman, long celebrated as the wizard of database market, also finds … Continue reading →

Posted in Baseball, Cordish Co., Genting, Harrah's, Internet gambling, Marketing, Maryland, Ohio, Penn National, Pinnacle Entertainment, Racinos, Sheldon Adelson, Singapore, The Strip, Transportation, Vietnam | Comments Off on Loveman’s big score; Slots come to Dayton

Bad ideas never die; The Fugees; Left holding the bag

Posted on August 26, 2014 by David McKee

Politicians are ever-fond of the notion of using casinos as surrogate police, tasking them with collecting delinquent child-support payments. Louisiana has actually been doing this since 2011 and hit the jackpot: $2 million-plus to date. So where do deadbeat dads … Continue reading →

Posted in Atlantic City, Cantor Gaming, Delaware, Harrah's, Louisiana, Neil Bluhm, Penn National, Pennsylvania, Regulation, Revel, Sports, Taxes | Comments Off on Bad ideas never die; The Fugees; Left holding the bag

Station’s big quarter; Smoke gets in your slots

Posted on August 13, 2014 by David McKee

Although customers are holding their purse strings tighter, Station Casinos registered noteworthy growth in earnings last quarter. Powered by Graton Resort & Casino in California, Station reported revenue of $55 million, up from $7 million a year earlier. In the … Continue reading →

Posted in California, Dining, Environment, Harrah's, Neil Bluhm, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Station Casinos, Tribal | Comments Off on Station’s big quarter; Smoke gets in your slots

Hard Rock rocks Sioux City; Chris Christie’s mighty pen

Posted on August 11, 2014 by David McKee

Lost in the loud death rattle of Argosy Belle Sioux City was the opening of its successor — some would say usurper — Hard Rock Hotel & Casino. And, contrary to what naysayers would have you believe, it’s bringing a … Continue reading →

Posted in Atlantic City, Economy, history, Iowa, Oscar Goodman, Penn National, Politics, Sports, The Mob, Tourism, Warner Gaming | Comments Off on Hard Rock rocks Sioux City; Chris Christie’s mighty pen

Reality in Illinois, Indiana; Optimism in New York

Posted on August 11, 2014 by David McKee

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 | Comments Off on Reality in Illinois, Indiana; Optimism in New York

No gold rush in California

Posted on August 11, 2014 by David McKee

In a huge setback for Internet gambling, California‘s legislature is calling it a day. State Sen. Lou Correa (D) is not only withdrawing his i-gaming bill from consideration, he’s being termed out at the end of the session, so the cause … Continue reading →

Posted in California, Harrah's, International, Internet gambling, Isle of Capri, James Packer, Melco Crown Entertainment, Missouri, Ohio, Penn National, Pinnacle Entertainment, Politics, Regulation, Sheldon Adelson, Tropicana Entertainment | Comments Off on No gold rush in California

Success story in the Free State; Stalking horses in Nebraska

Posted on August 6, 2014 by David McKee

Correction: According to Caesars Entertainment — and contrary to the Washington Post — Horseshoe Baltimore is not being renamed “The Legend.” That is a misconstrual of an ad slogan: “The Legend is coming!” There’s no need to worry about saturation … Continue reading →

Posted in Cordish Co., Election, Harrah's, Maryland, Nebraska, Penn National, Racinos | 3 Comments

MGM’s urban renewal; Ruffin rides again

Posted on August 4, 2014 by David McKee

Despite an atmosphere of uncertainty in Massachusetts, executives at MGM Resorts International are putting their faith in a November victory at the ballot box. They’ve closed on the purchase of two tornado-damaged buildings, the Springfield State Armory (shown) and the … Continue reading →

Posted in Architecture, Boyd Gaming, Economy, Election, Kansas, Massachusetts, MGM Mirage, Penn National, Phil Ruffin, Racinos, Taxes, Tribal | Comments Off on MGM’s urban renewal; Ruffin rides again

Argosy Sioux City: 2003-2014

Posted on July 30, 2014 by David McKee

Better get to Argosy Sioux City by 4:59 p.m. if you want to lay down one final bet. The casino will be closing permanently at 5 p.m., in compliance with an Iowa Supreme Court order. The Supremes declined to hear … Continue reading →

Posted in Charity, Horseracing, Iowa, Penn National, Pennsylvania, Regulation, Texas, Warner Gaming | Comments Off on Argosy Sioux City: 2003-2014

Hawkeye State showdown

Posted on July 28, 2014 by David McKee

That Iowa Racing & Gaming Commission keeps going from the frying pan to the fire. Former Linn County attorney Gene Kopecky is suing the regulatory body for an unfair restraint of trade. His action is prompted by the denial of … Continue reading →

Posted in Iowa, Penn National, Regulation, Warner Gaming | Comments Off on Hawkeye State showdown

Enormous changes at the last minute

Posted on July 28, 2014 by David McKee

After years of hand-wringing about the future of Atlantic City, there is a sudden imperative to do something about the seaside resort. It’s gone from a leadership vacuum to possibly having too many chefs in the kitchen. State Senate President … Continue reading →

Posted in Atlantic City, Carl Icahn, Churchill Downs, Economy, Hard Rock International, Harrah's, Mississippi, Penn National, Revel, Tilman Fertitta, Trump Entertainment Resorts | Comments Off on Enormous changes at the last minute

Pinnacle pestered; Penn profits; Pokies pilloried

Posted on July 25, 2014 by David McKee

Orange Capital, calling itself “unsatisfied,” has renewed its pestering of Pinnacle Entertainment to convert itself into a REIT. Orange claims that share value could be increased 60% to 90%. Unfortunately for Pinnacle customers, REITs are required to return 90% of … Continue reading →

Posted in Ameristar, Atlantic City, Australia, Indiana, Louisiana, Missouri, Ohio, Penn National, Pinnacle Entertainment, Problem gambling, Racinos, Tropicana Entertainment, Wall Street | Comments Off on Pinnacle pestered; Penn profits; Pokies pilloried

Great month for the Strip, for Louisiana not so much

Posted on July 25, 2014 by David McKee

Buoyed by heavy baccarat play, the Las Vegas Strip registered a 22.5% gain in June. The house played very lucky, too, with win up a staggering 155%. At the other end of the gaming spectrum, those slots must have been … Continue reading →

Posted in Atlantic City, Boyd Gaming, Churchill Hill, Downtown, Economy, Harrah's, Isle of Capri, Lake Tahoe, Laughlin, Louisiana, North Las Vegas, Penn National, Pinnacle Entertainment, Racinos, Reno, The Strip, Tropicana Entertainment | 1 Comment