Category Archives: Penn National

Inside Icahn’s F-bleau rummage sale

Posted on September 29, 2010 by David McKee

Hmmmm … I hear tell Pinnacle Entertainment just upped the budget* on its Baton Rouge casino. Maybe it can amortize that increase by bargain-shopping at Uncle Carl’s Honkin’ Big Hotel Furniture Emporium (aka “Hot Carl’s Fabulous Fontainebleau Garage Sale”) right-cheer … Continue reading →

Posted in Carl Icahn, Economy, Harrah's, Penn National, The Strip, Tropicana Entertainment, TV | 2 Comments

F-bleau on ice

Posted on September 28, 2010 by David McKee

Back in June, when I toured the “new look” Tropicana Las Vegas, it was intimated that much of the convention-area furniture and the HDTV sets in the Paradise Tower had been obtained on the cheap from Fontainebleau, when the latter … Continue reading →

Posted in Alex Yemenidjian, Carl Icahn, CityCenter, Cosmopolitan, Current, Economy, Penn National, The Strip, Tourism | 3 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

Early returns are in

Posted on August 26, 2010 by David McKee

Not electionwise but with regard to Penn National Gaming‘s racino in Charles Town, W.V., and its Hollywood Casino in Pennsylvania. The introduction of table games is buoying revenues nicely. The overall result in especially impressive in Charles Town. Not only … Continue reading →

Posted in Cannery Casino Resorts, Current, Harrah's, Neil Bluhm, Penn National, Pennsylvania, Racinos, Sheldon Adelson, Tribal, West Virginia | Comments Off on Early returns are in

Mothers of invention; Fernwood 2night

Posted on August 24, 2010 by David McKee

“Stacked” casino floors are a rarity in Las Vegas, usually necessitated by a limited footprint. That’s certainly the case with the Cosmopolitan, jimmied into a narrow slot just north of CityCenter (and often mistaken for part of that complex). However, … Continue reading →

Posted in Ameristar, Architecture, Cannery Casino Resorts, CityCenter, Cosmopolitan, Current, Dining, Economy, Entertainment, Harrah's, history, Isle of Capri, MGM Mirage, Mississippi, Missouri, Penn National, Pennsylvania, Regulation, Steve Wynn, The Strip, Tourism | 3 Comments

Crisis point in Atlantic City

Posted on August 19, 2010 by David McKee

If nothing else gets recalcitrant legislators off their duffs and behind Gov. Chris Christie‘s intervention on behalf of Atlantic City, maybe these numbers will. In the last quarter, only four casinos turned a profit. Harrah’s Entertainment‘s Showboat and Harrah’s Marina … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Colony Capital, Donald Trump, Economy, Harrah's, Penn National, Politics, Sahara, The Strip, Tropicana Entertainment | Comments Off on Crisis point in Atlantic City

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

Ameristar up for grabs

Posted on August 11, 2010 by David McKee

Having been in “stay the course” mode ever since the death of company founder Craig H. Neilsen, locals giant Ameristar Casinos is putting itself on the block. According to the New York Post, the company has hired an investment bank … Continue reading →

Posted in Ameristar, Atlantic City, Boyd Gaming, Current, Harrah's, Illinois, Indiana, Iowa, MGM Mirage, Missouri, Penn National, Pinnacle Entertainment, Regulation, Station Casinos, Wall Street | 1 Comment

The great train robbery

Posted on August 6, 2010 by David McKee

Take that, Boyd Gaming, ya varmints! To paraphrase vile Remington Products CEO Victor Kiam (1926-2001), the Fertitta Brothers liked Station Casinos so much they stole the company. Not only did three Fertitta siblings and an in-law cash out during the … Continue reading →

Posted in Boyd Gaming, Current, Penn National, Station Casinos, Wall Street | 7 Comments

Quote of the Day

Posted on July 26, 2010 by David McKee

“I found a business that has a good story. Despite all the attacks on the business, this is a business that’s never held its hand out, never asked for subsidies.” — former Penn National Gaming executive and would-be Gettysburg casino … Continue reading →

Posted in Economy, history, Penn National, Pennsylvania | 1 Comment

Quote of the Day

Posted on July 23, 2010 by David McKee

“I think we can say we’re definitely not interested [in Station Casinos] … We’re not really aware The Rio is for sale.” — Penn National Gaming CFO William Clifford during what must have been a very confusing conference call. You … Continue reading →

Posted in Current, Harrah's, Penn National, Station Casinos, Wall Street | 3 Comments

Atlantic City: Christie’s coup d’etat

Posted on July 21, 2010 by David McKee

Last week, I tried to work up a piece entitled, “Atlantic City, R.I.P.” After all, the Boardwalk had just come off a catastrophic June, impacted by table games in Delaware. Since table games were in process of sweeping Pennsylvania, from … Continue reading →

Posted in Atlantic City, Colony Capital, Columbia Sussex, Current, Donald Trump, Economy, Entertainment, Harrah's, history, Horseracing, International, Internet gambling, Macau, Marketing, MGM Mirage, Midnight Jim Gibbons, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Racinos, Regulation, Stanley Ho, Taxes, The Mob, Tourism | 6 Comments

Louisiana treads (oily) water

Posted on July 20, 2010 by David McKee

It’s a rare day when one can report that a casino market was down year/year but did better than expected. If you were looking for serious Deepwater Horizon spillover into June’s casino numbers, you’d be surprised. Statewide, casinos were -4.5% … Continue reading →

Posted in Ameristar, Boyd Gaming, Current, Dining, Economy, Environment, Harrah's, Harry Reid, Louisiana, M Resort, MGM Mirage, Penn National, Pinnacle Entertainment, Politics, Racinos, Steve Wynn, The Strip, Wall Street | Comments Off on Louisiana treads (oily) water

Veer-ing toward completion

Posted on July 16, 2010 by David McKee

With completion of Harmon Hotels having vanished into the mists of Time, the opening of Veer Towers effectively represents the end of CityCenter‘s rollout. (If and when the Harmon opens as something other than an office tower — one mooted … Continue reading →

Posted in CityCenter, Current, Economy, Entertainment, Genting, MGM Mirage, New York, Penn National, Racinos, Regulation, Station Casinos, The Strip, Tribal | 2 Comments

Around the horn

Posted on July 8, 2010 by David McKee

Iowa‘s casino revenues last month were nearly the textbook definition of “flat”: up a tenth of a percent, the first revenue-positive month since February 2009. (Hey, growth is growth. We’ll take it.) The drag anchor on revs was Harrah’s Entertainment, … Continue reading →

Posted in Ameristar, Boyd Gaming, Carl Icahn, CityCenter, Current, Detroit, Don Barden, Economy, Entertainment, Harrah's, Horseracing, Illinois, Indiana, International, Iowa, Isle of Capri, Macau, MGM Mirage, Mississippi, Missouri, Pansy Ho, Penn National, Pinnacle Entertainment, Racinos, Regulation, Stanley Ho, Tribal, Tropicana Entertainment, TV | 2 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

“Yer money’s no good here”

Posted on June 10, 2010 by David McKee

Update: The “does not accept money from casinos and unions” verbiage was reinstated late today. (It’s way, way, waaaaaaaaaaaaaay down at the bottom of the page. So why is “perception, by voters [of] undue pressure” by casinos a problem? Nevada‘s … Continue reading →

Posted in Economy, Election, Harrah's, Harry Reid, Iowa, Isle of Capri, Movies, Penn National, Pennsylvania, Politics, Sheldon Adelson, Technology | 5 Comments