Category Archives: Penn National

Ohio: Half-full or half-empty?; MGM lauded

Posted on December 10, 2013 by David McKee

Whether Ohio‘s casinos are succeeding or disappointing depends on how the question is framed. Are they delivering what the state (and casino companies) promised or are they financial slackers? Penn National Gaming‘s Hollywood Casino Columbus is somewhat of both, down … Continue reading →

Posted in Economy, Harrah's, MGM Mirage, MTR Gaming, Ohio, Penn National, Racinos, Taxes | Comments Off on Ohio: Half-full or half-empty?; MGM lauded

Compromise in Boston; Good riddance at Pinnacle?

Posted on December 10, 2013 by David McKee

It would appear that the Massachusetts Gaming Commission has tacitly bowed to ballot language that would require any restructuring of the Suffolk Downs casino deal to be submitted for a re-vote. Fresh off the wires comes news that the MGC … Continue reading →

Posted in Harrah's, Isle of Capri, Massachusetts, Missouri, Mohegan Sun, Penn National, Pinnacle Entertainment, Racinos, Regulation, Tropicana Entertainment | Comments Off on Compromise in Boston; Good riddance at Pinnacle?

MGM: Crossing fingers and hoping; Bloodbath in Indiana

Posted on December 10, 2013 by David McKee

After several ups and downs, MGM Resorts International finds itself justthisclose to a casino in Springfield, Massachusetts. The state’s equivalent of the Nevada Gaming Control Board urged a finding of suitability. Whether the circumspect Massachusetts Gaming Commission agrees hangs upon … Continue reading →

Posted in Affinity Gaming, Atlantic City, Harrah's, Macau, Massachusetts, MGM Mirage, Ohio, Pansy Ho, Penn National, Pinnacle Entertainment, Racinos, Regulation, Technology | Comments Off on MGM: Crossing fingers and hoping; Bloodbath in Indiana

D-Day nears for Massachusetts, Maryland

Posted on December 9, 2013 by David McKee

This just in: MGM Resorts International has been tentatively approved by the investigative branch of the Massachusetts Gaming Commission, pending the satisfaction of certain matters. That moment is drawing nigh at which point the Massachusetts Gaming Commission must rule upon … Continue reading →

Posted in Atlantic City, Colony Capital, Cordish Co., Greenwood Racing, Harrah's, Maryland, Massachusetts, MGM Mirage, Pansy Ho, Penn National, Regulation, Stanley Ho, Steve Wynn, Tribal | 1 Comment

Buyers and potential sellers

Posted on December 9, 2013 by David McKee

Spend a few minutes this morning with Revel Resort CEO Scott Kreeger, even if some of his answers are exquisitely vague. Having been checkmated by voters in Milford, Massachusetts, is no discouragement to Penn National Gaming parent company Gaming & … Continue reading →

Posted in Atlantic City, Hard Rock International, Harrah's, Illinois, Indiana, Iowa, Massachusetts, Ohio, Penn National, Pinnacle Entertainment, Revel | Comments Off on Buyers and potential sellers

Imbalances of power; Vegas to Israel?

Posted on December 6, 2013 by David McKee

It was another bonny month for Maryland, whose casino revenues grew 55% in November, up to $67 million. It’s not an apples/apples comparison, since neither Rocky Gap Casino nor table games were in play a year ago. Tables were responsible … Continue reading →

Posted in Charity, Cordish Co., Economy, Greenwood Racing, Harrah's, Illinois, Macau, Maryland, Melco Crown Entertainment, MGM Mirage, Neil Bluhm, Penn National, Pets, Sheldon Adelson, Stanley Ho, Steve Wynn | Comments Off on Imbalances of power; Vegas to Israel?

Big coup for Lumiere; Where next, Vegas?

Posted on December 6, 2013 by David McKee

And Caesars Entertainment‘s March stop on the World Series of Poker is … Lumiere Place?!?!? Yes, a marquee Caesars attraction is being held on Tropicana Entertainment property. The reason is twofold. One, Horseshoe Cleveland isn’t big enough to handle the … Continue reading →

Posted in Current, Detroit, Harrah's, Marketing, Missouri, Ohio, Penn National, Station Casinos, Technology, Tropicana Entertainment, World Series of Poker | Comments Off on Big coup for Lumiere; Where next, Vegas?

Casinos on the dole; Conflict in Massachusetts

Posted on December 5, 2013 by David McKee

We’ve come 180 degrees in the evolution of the casino industry in the U.S. State governments once embraced them as what Dover Downs Gaming & Entertainment CEO Denis McGlynn calls a “sin-tax pot of gold.” Now they’re flailing amidst overmuch competition … Continue reading →

Posted in Iowa, Massachusetts, MGM Mirage, Penn National, Taxes, The Strip, Tribal, Wall Street | Comments Off on Casinos on the dole; Conflict in Massachusetts

Freeman vs. Adelson; Kentucky tries again

Posted on November 21, 2013 by David McKee

In a particularly stunning departure from American Gaming Association tradition, new prexy Geoff Freeman took a jab at Las Vegas Sands CEO Sheldon “Nuke ‘Em” Adelson in the pages of USA Today. Of course, Freeman didn’t mention Adelson explicitly. But … Continue reading →

Posted in Atlantic City, Columbia Sussex, Harrah's, Internet gambling, Kentucky, Marketing, New York, Penn National, Pennsylvania, Politics, Racinos, Regulation, Sheldon Adelson, Taxes | Comments Off on Freeman vs. Adelson; Kentucky tries again

Japan factor overrated?; Gural’s head start

Posted on November 20, 2013 by David McKee

Skepticism is starting to emerge regarding Union Gaming Group‘s projection of $10 billion a year from Japanese casinos, should they be legalized. Among the reasons given are that “whales” from Japan aren’t a major factor in Pacific Rim casinos. Also, … Continue reading →

Posted in Japan, Marketing, New York, Penn National, Racinos, Scientific Games, Tribal, Wall Street, WMS Industries | Comments Off on Japan factor overrated?; Gural’s head start

Foxwoods Massachusetts: All the king’s horses …

Posted on November 20, 2013 by David McKee

In what must be the shortest-lived deal in Penn National Gaming‘s history, its nascent partnership with Foxwoods Resort Casino went down to defeat yesterday. Crossroads Massachusetts, as it was called, didn’t just lose — it was crushed. An unofficial tabulation … Continue reading →

Posted in Cordish Co., Foxwoods, Greenwood Racing, Massachusetts, MGM Mirage, Penn National, Regulation, Steve Wynn | Comments Off on Foxwoods Massachusetts: All the king’s horses …

Foxwoods finds a partner and, yes, it’s Penn

Posted on November 18, 2013 by David McKee

By the narrowest of odds, Crossroads Massachusetts caught a couple of breaks late last week. The Foxwoods Resort Casino-led project was found “conditionally” suitable to go forward. The condition imposed by the Massachusetts Gaming Commission was that Foxwoods find the … Continue reading →

Posted in Foxwoods, Massachusetts, New York, Penn National, Regulation, Tribal | Comments Off on Foxwoods finds a partner and, yes, it’s Penn

Quote of the Day

Posted on November 18, 2013 by David McKee

“While we see valuation as undemanding, we think the stock is stuck given sluggish regional gross gaming revenue trends.” — J.P. Morgan analyst Joseph Greff, staying neutral on ‘new’ Penn National Gaming and its parent, Gaming & Leisure Properties Inc. Greff … Continue reading →

Posted in Penn National, Pinnacle Entertainment | Comments Off on Quote of the Day

Racing the clock at Foxwoods, in Philly

Posted on November 15, 2013 by David McKee

It’s entirely possible that Milford voters could pink-slip Crossroads Massachusetts next Tuesday. But even if they don’t, Foxwoods Casino Resort CEO Scott “Woody” Butera is watching the project crumble before his very eyes. The Massachusetts Gaming Commission looked at the … Continue reading →

Posted in CityCenter, Cordish Co., Current, Dining, Election, Foxwoods, Horseracing, Kansas, Maryland, Massachusetts, Penn National, Pennsylvania, Regulation, Steve Wynn, Tomato King Procacci, Wall Street | Comments Off on Racing the clock at Foxwoods, in Philly

Life beyond Wynn; Crazy bounce in Atlantic City; Pressure rises in Macao

Posted on November 13, 2013 by David McKee

Applicants for Philadelphia‘s remaining casino license say they’re still keen on their chances even though Steve Wynn has dropped out? And why not? Everybody else’s odds just got better. I’d be doing the happy dance, too, if I was Penn … Continue reading →

Posted in Economy, Macau, Neil Bluhm, New York, Penn National, Pennsylvania, Revel, Steve Wynn, Tropicana Entertainment, Trump Entertainment Resorts, Wall Street | Comments Off on Life beyond Wynn; Crazy bounce in Atlantic City; Pressure rises in Macao

Misery in Missouri; Massachusetts upended; Ho associate nabbed

Posted on November 12, 2013 by David McKee

Today’s gaming numbers out of Missouri are so depressing I hardly feel like sharing them. Year over year, only two casinos were revenue-positive. One was — no surprise — River City, in St. Louis. The other was — mild surprise … Continue reading →

Posted in Harrah's, International, Isle of Capri, Lawrence Ho, Massachusetts, Missouri, Penn National, Pinnacle Entertainment, Regulation, Taxes, Tribal | 1 Comment

N.Y. claims first casualty: Steve Wynn; Walker’s waiting game

Posted on November 11, 2013 by David McKee

For the second time, Steve Wynn is pulling out of contention for the one remaining Philadelphia casino license. In a prepared statement, Wynn Resorts said its board had recently met, conducted a feasibility study and “decided that the best course … Continue reading →

Posted in Architecture, Charity, Current, Isle of Capri, Massachusetts, New York, Penn National, Pennsylvania, Steve Wynn, Tomato King Procacci, Tribal, Wisconsin | 2 Comments

A New York State of mind; What price corruption?

Posted on November 8, 2013 by David McKee

New York State Gov. Andrew Cuomo (D) came out of hiding to crow about the big casino victory last Tuesday. He and his allies are being credited with keeping the Proposal One campaign focused on education aid and job creation, … Continue reading →

Posted in Atlantic City, Current, Election, Foxwoods, Harrah's, International, M Resort, Mohegan Sun, New York, Penn National, Racinos | 2 Comments

Indiana up and down; Garber agonistes

Posted on November 8, 2013 by David McKee

Casinos in Indiana grossed 3% less last month but still far outperformed ($193 million) neighboring Illinois and Ohio. Patron traffic was 9% down but visitor spend rose 7%. Penn National Gaming‘s Hollywood Lawrenceburg got absolutely hammered by new competition from … Continue reading →

Posted in Boyd Gaming, Charity, Cordish Co., Current, Economy, Harrah's, Indiana, Internet gambling, Japan, Massachusetts, MGM Mirage, Ohio, Penn National, Pinnacle Entertainment, Racinos, Regulation, Station Casinos, Tropicana Entertainment | Comments Off on Indiana up and down; Garber agonistes

Penn overboard!; Macao’s zenith

Posted on November 7, 2013 by David McKee

First the good news about Ohio: Gambling revenue was up 47% last month. Now, the bad news. One a same-store basis it was down 2% year/year. Who knew the Buckeye State would get saturated so quickly? The statewide gross was … Continue reading →

Posted in Atlantic City, Boyd Gaming, Current, Dan Gilbert, Delaware, Economy, Harrah's, Illinois, Internet gambling, Macau, Melco Crown Entertainment, MGM Mirage, Missouri, MTR Gaming, Neil Bluhm, Ohio, Penn National, Racinos, Sheldon Adelson, Stanley Ho, Station Casinos, Tourism, Wall Street | 1 Comment