Category Archives: Penn National

It could be worse … couldn’t it?

Posted on January 8, 2010 by David McKee

That’s what passes for optimism these days when confronted by ledgers like those posted by casinos in Illinois and Indiana for December. While the former’s 5% decline hardly looks like cause for celebration, it at least suggests the Land of … Continue reading →

Posted in Boyd Gaming, Current, Don Barden, Economy, Harrah's, Illinois, Indiana, MGM Mirage, Neil Bluhm, Penn National, Politics, Racinos, Regulation, Taxes, Tribal, Tropicana Entertainment | 1 Comment

Quote of the Day

Posted on January 7, 2010 by David McKee

“PA table game approval a positive for PENN” — headline on this morning’s e-mail blast from J.P. Morgan. Who knew those Wall Street analysts would ever embed a jest like that within a stock recommendation?

Posted in Current, Penn National, Pennsylvania, Politics, Wall Street | Comments Off on Quote of the Day

Penn vs. Columbus, Round II

Posted on January 5, 2010 by David McKee

Opponents of Penn National Gaming‘s Arena District site in Columbus are refining their message to sound less NIMBY-ish and Penn is hinting at (limited) flexibility on its part.

Posted in Current, Ohio, Penn National | 1 Comment

Damsel in distress

Posted on January 4, 2010 by David McKee

Until 2005, when Harrah’s Entertainment devoured Park Place Entertainment, its flagship property in Las Vegas was The Rio. Since then the lady has fallen upon hard times. During the period 2007-09, while Harrah’s CEO Gary Loveman blew hundreds of millions … Continue reading →

Posted in Current, Economy, Entertainment, Harrah's, Penn National, Regulation, Wall Street, World Series of Poker | 4 Comments

Mutiny!

Posted on December 31, 2009 by David McKee

One of the dirty little secrets of the “cruise to nowhere” business is that these vessels are crewed with seamen imported from foreign countries. (Americans, despite being citizens of one of the preeminent seafaring nations, apparently aren’t good enough.) So … Continue reading →

Posted in Architecture, Boyd Gaming, CityCenter, Current, Economy, Florida, Harrah's, International, MGM Mirage, Ohio, Penn National, Planet Hollywood, Regulation, Riviera, Sahara, Station Casinos, The Strip | Comments Off on Mutiny!

Keep your hands off my slag heap!

Posted on December 30, 2009 by David McKee

If you look up “urban blight,” you’re liable to find images like these, which show the area in which Penn National Gaming wants to build its Columbus, Ohio casino. At present, the casino to be is but a bunch of … Continue reading →

Posted in Ohio, Penn National, Politics | 2 Comments

‘Tis the season

Posted on December 23, 2009 by David McKee

Kansas Gov. Mark Parkinson cuts the ribbon on Boot Hill Casino. The gentleman at the rear in the red tie is the Kansas Lottery’s Ed Van Petten, taking time out from carrying water for Mike Ensign. Having been on the … Continue reading →

Posted in Alex Yemenidjian, Archon Corp., Boyd Gaming, Cannery Casino Resorts, Carl Icahn, CityCenter, Colony Capital, Columbia Sussex, Don Barden, Donald Trump, Economy, Election, Entertainment, Environment, Fontainebleau, Harrah's, Harry Reid, Internet gambling, Isle of Capri, Jack Binion, James Packer, Kansas, M Resort, Macau, MGM Mirage, Neil Bluhm, Oscar Goodman, Penn National, Pets, Phil Ruffin, Politics, Sheldon Adelson, Stanley Ho, Station Casinos, Steve Wynn, Technology, The Strip, Tourism, Tribal | 8 Comments

Big casino opening today

Posted on December 15, 2009 by David McKee

No, not Aria. That’s tomorrow. Today’s the first day of business for $48 million Boot Hill Casino & Resort, in Dodge City. Avionics firm (!) and relatively novice casino developer Butler National did what brand names Penn National Gaming, MGM … Continue reading →

Posted in Current, Economy, Harrah's, Kansas, MGM Mirage, Penn National, Regulation, Sheldon Adelson, Tribal | Comments Off on Big casino opening today

Pelican State blues

Posted on December 15, 2009 by David McKee

November numbers are in for Louisiana and it’s the Pelican State’s worst gaming month in five quarters. Only the independent Eldorado Shreveport riverboat and Fair Grounds racino near New Orleans reported revenue growth. All major operators took it on the … Continue reading →

Posted in Boyd Gaming, Columbia Sussex, Harrah's, International, Isle of Capri, Louisiana, Maryland, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Racinos, Regulation | Comments Off on Pelican State blues

Bonuses for F-bleau; MGM plants flag in India

Posted on December 11, 2009 by David McKee

When your hopelessly over-budget resort project is bankrupt, stuck in the mud, mired in lawsuits and is basically a total writeoff, there’s only one thing to do. Award year-end bonuses, that’s what. Fontainebleau Chief Restructuring Officer Howard Karawan wants to … Continue reading →

Posted in Carl Icahn, Current, Economy, Fontainebleau, Genting, International, MGM Mirage, Penn National, The Strip | 6 Comments

Wall Street hearts Penn

Posted on December 9, 2009 by David McKee

Table games having been approved for Charles Town Races & Slots by a 60/40 margin, stock analysts are lurving Penn National Gaming … so long as Penn’s infatuation with Fontainebleau turns out to have been a passing malady. While those … Continue reading →

Posted in Current, Election, Fontainebleau, Harrah's, Kansas, Missouri, Ohio, Penn National, Pinnacle Entertainment, Regulation, The Strip, Wall Street | 5 Comments

Who’s better for F’bleau: Icahn or Penn?

Posted on December 8, 2009 by David McKee

That’s the unspoken question hanging over a lengthy piece in yesterday’s Las Vegas Sun. While Penn National Gaming is willing to commit $1.5 billion or more to finishing Fontainebleau, lead bidder Carl Icahn may be able to do the job … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, CityCenter, Columbia Sussex, Current, Economy, Fontainebleau, Kansas, MGM Mirage, Ohio, Penn National, Planet Hollywood, Regulation, Station Casinos, The Strip, Wall Street | 2 Comments

Is Adelson mad? Trump trumped & Kerzner booted

Posted on December 1, 2009 by David McKee

In an interview with Reuters, Sheldon Adelson said Las Vegas Sands might launch operations in India, Thailand and Japan as soon as 2010. Given the ropey financial condition of his company, the fact that Marina Bay Sands will open at … Continue reading →

Posted in Alex Yemenidjian, Atlantic City, Current, Detroit, Donald Trump, Economy, Genting, Harrah's, International, Kansas, Macau, Massachusetts, Neil Bluhm, Penn National, Pennsylvania, Planet Hollywood, Racinos, Regulation, Sheldon Adelson, Singapore, Stanley Ho, Taxes, Tourism, Tribal | 1 Comment

Quote of the Day

Posted on November 27, 2009 by David McKee

“Cleveland, Toledo, and Cincinnati should not be in a position to make development decisions for Columbus any more than Columbus residents should be weighing in on Cleveland projects.” — Ohio state Sen. David Goodman, on a proposal that would allow … Continue reading →

Posted in Election, Ohio, Penn National, Politics | Comments Off on Quote of the Day

CityCenter dodges bullet

Posted on November 27, 2009 by David McKee

Morton Grove, IL. Lying low while Black Friday sweeps Chicagoland … You will remember that, when CityCenter teetered upon the brink of bankruptcy earlier this year, it was saved by a compromise that put the onus on MGM Mirage for … Continue reading →

Posted in Ameristar, Atlantic City, Cirque du Soleil, CityCenter, Current, Don Barden, Economy, Entertainment, Harrah's, IGT, Illinois, Indiana, International, Kansas, MGM Mirage, Ohio, Penn National, Regulation, WMS Industries | 4 Comments

F-bleau: It’s Icahn’s … or is it?

Posted on November 24, 2009 by David McKee

True to form, Carl Icahn sprang when you least expected him to, sneaking up on Penn National Gaming in bankruptcy court to outbid it for the bankrupt Fontainebleau in the first round of bartering (a process that will drag into … Continue reading →

Posted in California, Carl Icahn, Current, Economy, Fontainebleau, IGT, Louisiana, Morgans Hotel Group, Penn National, Pinnacle Entertainment, The Strip, Wall Street | 6 Comments

Best idea of the week … or year

Posted on November 6, 2009 by David McKee

From our Today’s News feed: “Until now, MGM Mirage exercised a policy of having each property in the group compete with the others, as if they were totally independent competing entities. It was a strategy designed to keep salespeople ‘on … Continue reading →

Posted in California, CityCenter, Current, Economy, Entertainment, Environment, Harrah's, Marketing, MGM Mirage, Ohio, Penn National, Plaza, Steve Wynn | 2 Comments

“It’s a bargain hunter’s paradise”

Posted on November 4, 2009 by David McKee

So sayeth our own Anthony Curtis, toward the end of a superb MSNBC analysis of the impending impact of CityCenter. Other industry moguls, including Sheldon Adelson and Steve Wynn, take a cautious but hopeful view. Even the normally optimistic Bill … Continue reading →

Posted in CityCenter, Cordish Co., Economy, Kansas, Maryland, MGM Mirage, Penn National, Regulation, Sheldon Adelson, Steve Wynn, Tourism, TV, Wall Street | 2 Comments

Quote of the Day

Posted on November 4, 2009 by David McKee

“It’s pretty obvious that the Ohio electorate bought into the whole culture of despair that’s going on with the economy.” — casino opponent and Ohio Policy Roundtable member David Zanotti, bewailing last night’s ratification of Class III gambling in the … Continue reading →

Posted in Current, Economy, Election, Ohio, Penn National, Politics, Taxes | 1 Comment

Meet the new Cincinnati Kid

Posted on November 4, 2009 by David McKee

For our purposes, the main headline comes from Ohio, where Issue 3 passed amid heavy voter turnout — if not by the wide margin pollsters had forecast. (At least they didn’t screw the pooch like all those pollsters who had … Continue reading →

Posted in Atlantic City, Bally Technologies, Current, Economy, Election, Horseracing, IGT, Ohio, Penn National, Politics, Racinos, Regulation, Taxes, WMS Industries | 2 Comments