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Category Archives: Penn National
'Show Me' no stinkin' IDs
"We don't want them in there," huffs Ameristar Casinos' Troy Stremming (left) with regard to pathological gamblers. Stremming's high dudgeon rings a mite hollow now that the Missouri ballot initiative he crafted and shepherded to victory last fall is providing … Continue reading
Posted in Ameristar, Missouri, Penn National, Problem gambling, Regulation, Taxes
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'Show Me' no stinkin' IDs
"We don't want them in there," huffs Ameristar Casinos' Troy Stremming (left) with regard to pathological gamblers. Stremming's high dudgeon rings a mite hollow now that the Missouri ballot initiative he crafted and shepherded to victory last fall is providing … Continue reading
Posted in Ameristar, Missouri, Penn National, Problem gambling, Regulation, Taxes
Comments Off on 'Show Me' no stinkin' IDs
Penn finally makes a move
Well, let's not get all excited yet. Penn National has bought a puny stake in Morris Goldstein & Assoc., a slot distributor. It's a bit of kabuki theatre whereby Penn and executives CEO Peter Carlino, President Tim Wilmott, CFO Bill … Continue reading
Posted in Donald Trump, Internet gambling, Macau, Penn National, Regulation, Riviera, Tourism
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Rough trade
May wasn't great for Las Vegas, to say the least, with hotel occupancy -6%, a figure somewhat amplified by the presence of 3% more hotel rooms. The local ADR of $96.96 would have been regarded as real money back in … Continue reading
Posted in Ameristar, Boulder Strip, Boyd Gaming, Downtown, Economy, Harrah's, Illinois, Indiana, MGM Mirage, Missouri, Neil Bluhm, Penn National, Regulation, Slot routes, The Strip
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House of wax
I call your bluff, comrade. As you may have heard, casinos in Russia can stay open by converting to poker rooms. A tip of the fedora goes to reader mike_ch for pointing out this story, which delineates some of the … Continue reading
Posted in Architecture, Donald Trump, Entertainment, Fontainebleau, International, Penn National, Planet Hollywood, Regulation, Riviera, Sheldon Adelson, Sports, Station Casinos, The Strip, Tourism, TV
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Case Bets: California, Packer pickle, Macao pix, Holy Cow!, Singapore, RoboPoker, etc.
Editor’s note: An item involving Crown Ltd. contained factual errors, which have been corrected (as you’ll see). I apologize for the misinformation. My thanks to the reader who pulled my head out of my @$$. California gamblers stay and play … Continue reading
Posted in Atlantic City, Australia, California, Columbia Sussex, Current, Economy, Entertainment, G2E, Genting, Harrah's, Holy Cow, International, Lake Tahoe, Laughlin, Louisiana, Macau, New York, Penn National, Phil Ruffin, Problem gambling, Regulation, Sheldon Adelson, Singapore, Technology, The Strip, Tribal, Tropicana Entertainment
Comments Off on Case Bets: California, Packer pickle, Macao pix, Holy Cow!, Singapore, RoboPoker, etc.
Case Bets: Packer & Ho, Sands Bethlehem, MGM Mirage, Ameristar, Penn, Harrah's, etc.
• Smashing guitars — but not over each other’s noggins — James Packer and Lawrence Ho christened City of Dreams. The younger Ho downplayed expectations of foot traffic, saying his $2.4 billion megaresort could get by on far fewer visitors … Continue reading
Posted in Ameristar, Cordish Co., Current, Detroit, Economy, Election, Harrah's, Horseracing, Iowa, James Packer, Lawrence Ho, Macau, Maryland, Melco Crown Entertainment, MGM Mirage, Penn National, Pennsylvania, Regulation, Sheldon Adelson, Wall Street
Comments Off on Case Bets: Packer & Ho, Sands Bethlehem, MGM Mirage, Ameristar, Penn, Harrah's, etc.
Rumble in Macao
Although an oft-promised loosening of visa restrictions by Peking stubborny refuses to materialize, an air of cautious hopefulness has crept back into Macao now that City of Dreams has opened on schedule — and it looks dazzling. Aggressive revenue projections … Continue reading
Posted in Atlantic City, Boyd Gaming, Cannery Casino Resorts, Cosmopolitan, Current, Economy, Genting, George Maloof, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Penn National, Planet Hollywood, Sheldon Adelson, Stanley Ho, Station Casinos, Steve Wynn, Taxes, The Strip
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Surrender in Atlantic City?
Yesterday, I mis-reported New Jersey state Sen. James Whelan's proposal for downsizing the state's regulatory apparatus. He didn't call for elimination of the New Jersey Casino Control Commission in favor of the Division of Gaming Enforcement, merely an unspecified removal … Continue reading
Posted in Atlantic City, Boyd Gaming, Colony Capital, Donald Trump, Economy, Harrah's, Penn National, Pennsylvania, Politics, Regulation, Station Casinos
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"Another one bites the dust"
That’s how a reader informed me of Las Vegas-based Golden Gaming‘s decision to bail on Wyandotte County in Kansas. Considering that you’ve got Harrah’s Entertainment, Ameristar Casinos, etc. firmly entrenched across the state line in Kansas City, Mo., and Isle … Continue reading
Posted in Ameristar, Boyd Gaming, Cordish Co., Current, Economy, Golden Gaming, Harrah's, Isle of Capri, Kansas, Penn National, Regulation, Station Casinos, Wall Street
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Case Bets: Isle exits U.K.; no room at the Trop; Carlino channels Astaire, etc.
Isle of Capri Casinos is coming up for air, literally extricating itself from underneath Ricoh Stadium in Coventry, U.K. As part of CEO James Perry‘s attempt to refocus a company that spread itself too thin under his predecessor, he’s walking … Continue reading
Posted in Atlantic City, California, Colony Capital, Columbia Sussex, Current, Detroit, Economy, Florida, Goldman Sachs, Illinois, International, Isle of Capri, MGM Mirage, Penn National, Regulation, The Strip, Tropicana Entertainment, Wall Street
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Updates: Pinnacle, Boyd, Foxwoods, Donald Trump & Criss Angel
Don’t wait by the phone if you’ve got a date with Pinnacle Entertainment. It has just pushed back the timelines on its Baton Rouge and Lake Charles projects by five months. It cited investor reluctance and warned more delays are … Continue reading
Posted in Cirque du Soleil, Current, Donald Trump, Entertainment, Louisiana, Morgans Hotel Group, Penn National, Phil Ruffin, Pinnacle Entertainment, Planet Hollywood, The Strip, Tribal, Wall Street
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A delicate balance
Another day, a little more movement in the CityCenter situation. Well, it's that or talk about tourism and gaming revenue numbers that are too depressing to contemplate for long. Time was that the American banking industry was practically giving away … Continue reading
Posted in Colony Capital, Current, Detroit, Economy, James Packer, M Resort, MGM Mirage, Penn National, Station Casinos, The Strip, Wall Street
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Big bounce in Pennsylvania
Casino revenues in the Keystone State leapt 14% from February of Leap Year to this year, at least at six of the state's seven casinos. (Hollywood Casino at Penn National Race Course is excluded; it wasn't open a year ago.) … Continue reading
Posted in Cannery Casino Resorts, Harrah's, James Packer, Neil Bluhm, Penn National, Pennsylvania, Sheldon Adelson, Taxes, Tribal
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Case Bets: Penn in Vegas, Fontainebleau, Fine Cotton R.I.P.
Phil Hevener, the guy who was onto the Imperial Palace sale before anyone else, says Penn National pitched offers for not only The Mirage but also Caesars Palace … at insultingly low EBITDA multiples (see bottom of story). The Strip … Continue reading
Posted in Australia, Boyd Gaming, Fontainebleau, Harrah's, Horseracing, MGM Mirage, Penn National, The Strip, Tribal
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Case Bets: Penn in Vegas, Fontainebleau, Fine Cotton R.I.P.
Phil Hevener, the guy who was onto the Imperial Palace sale before anyone else, says Penn National pitched offers for not only The Mirage but also Caesars Palace … at insultingly low EBITDA multiples. The Strip has seen much better … Continue reading
Posted in Australia, Boyd Gaming, Fontainebleau, Harrah's, Horseracing, MGM Mirage, Penn National, The Strip, Tribal
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Missouri: Dough and "D'oh!"
Silly me. I had the Missouri numbers sitting in my "Inbox" all day yesterday and simply overlooked them amidst a typically frenetic day. A big "thank you" though to reader Bob Bradley, who provided the short and long versions (click … Continue reading
Posted in Ameristar, Harrah's, Isle of Capri, Missouri, Penn National, Pinnacle Entertainment, Wall Street
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Mixed message from Penn
Having pulled the plug on his latest Atlantic City venture, Penn National CEO Peter Carlino served the city a heaping plate of gloom with a side dish of pessimism. In fact, he pretty much slammed the door on the besieged … Continue reading
Posted in Atlantic City, Colony Capital, Donald Trump, Economy, Harrah's, MGM Mirage, Penn National, Pennsylvania, Pinnacle Entertainment, Tropicana Entertainment
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