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Category Archives: Pennsylvania
This land is their land; Tight money in Pennsylvania
Tribal casinos aren’t just for reservations anymore and it’s becoming a coast-to-coast phenomenon. California legislators already approved one off-reservation casino, to be managed by Station Casinos. The Enterprise Rancheria of the Estom Yumeka Maidu would like to be second. They … Continue reading
Massachusetts: Small problem for Wynn, big trouble for MGM, Plainridge
Boston still has 10 weeks to reach terms with Suffolk Downs on a billion-dollar racino. That may explain Caesars Entertainment‘s apparent lack of urgency in reaching a host-community agreement. Beantown Mayor Thomas Menino‘s administration seems to be expending considerably more … Continue reading
Posted in Atlantic City, California, Cordish Co., Current, Harrah's, Marketing, Maryland, Massachusetts, Neil Bluhm, Penn National, Pennsylvania, Politics, Racinos, Regulation, Steve Wynn, Tomato King Procacci, Tribal
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Seller’s market in A.C.?; Adelson’s new opportunity
According to a certain Pinky Kravitz, two new suitors are afoot on the Boardwalk. One of them is Neil Bluhm‘s SugarHouse Casino, which evidently covets the Atlantic Club (a surprisingly downmarket move for Bluhm). It may have to go up … Continue reading
Posted in Atlantic City, Boyd Gaming, Colony Capital, Current, Donald Trump, Economy, Environment, Foxwoods, Harrah's, International, Internet gambling, Kansas, Maine, Massachusetts, Neil Bluhm, New Hampshire, New York, Pennsylvania, Regulation, Sheldon Adelson, Taxes, Wall Street
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Silly in Philly; Dinosaurs in Macao; New York’s choice
From the silly file. There’s no reason that any Joe Blow can’t apply for a casino license in Philadelphia. But I get a kick out of fruit-and-vegetable mogul Joseph “Tomato King” Procacci thinking he can actually outdo the likes of … Continue reading
Posted in Animals, Election, Isle of Capri, Macau, New York, Penn National, Pennsylvania, Problem gambling, Regulation, Stanley Ho, Steve Wynn, Taxes
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Quote of the Day
“Phyladelphia [sic], with all its trade and wealth and regularity, is not Boston. The morals of our people are much better; their manners are more polite and agreeable… Our language is better, our taste is better, our persons are handsomer; … Continue reading
Posted in history, Massachusetts, Pennsylvania
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Early reckoning in Macao; Big Gaming’s growing pains
One shouldn’t read too much into anything the Macao government says about casino operators. It likes to keep them guessing — especially U.S. ones. Still, it’s worth noting that Secretary for Economy & Finance Francis Tam Pak Yuen has floated … Continue reading
Posted in Atlantic City, Delaware, Economy, Genting, Harrah's, Macau, MGM Mirage, New Hampshire, New York, Ohio, Oklahoma, Pennsylvania, Problem gambling, Racinos, Regulation, Sheldon Adelson, Stanley Ho, Tropicana Entertainment
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Wynn checkmated in Everett?; Cordish sees Penn, raises ante
As we all would agree, Suffolk Downs doesn’t have the capitalization, the track record or the leadership that Wynn Resorts does. However, Richard Fields and Harvard homeboy Gary Loveman have a big something going for them: juice. I expected their … Continue reading
Posted in Atlantic City, Cordish Co., Current, Dining, Election, Foxwoods, Genting, Harrah's, Massachusetts, New York, Pennsylvania, Politics, Racinos, Regulation, Revel, Steve Wynn, Taxes, Tribal
1 Comment
Hail, Caesars; Some roads lead to Foxwoods; Bluhm disappoints
It’s not every day that Caesars Entertainment CEO Gary Loveman has a good idea. But when he does, it’s a real brainwave. Such has proven to be the case with Caesars’ purchase of social-gaming Web firm Playtika. The latter has … Continue reading
Posted in Hard Rock International, Harrah's, IGT, Illinois, Internet gambling, Macau, Maryland, Massachusetts, MGM Mirage, Neil Bluhm, Pansy Ho, Penn National, Pennsylvania, Politics, Regulation, Stanley Ho, Station Casinos, Taxes, The Mob, Transportation, Tribal
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Barton delivers; Penn takes the initiative
It was a somewhat mixed victory for the casino industry. Rep. Joe Barton (R-TX, left) revived a 2012 initiative, in the form of his Internet Poker Freedom Act, legislation that he’s been promising for a couple of election cycles now. … Continue reading
Gold strike in Maryland; Ghost train; ‘Sell’ order on Sands; Wynn cleared
That elastic band which is American consumers’ gambling budget may have tightened in Illinois and gone slack in Ohio, but it’s expanding nicely in Maryland, now that table games are part of the mix. Sayeth the Maryland Lottery, revenues for … Continue reading
Posted in California, Cordish Co., Current, Economy, Macau, Maryland, Massachusetts, North Las Vegas, Penn National, Pennsylvania, Sheldon Adelson, Steve Wynn, Tourism, Transportation, Wall Street
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Buyer’s market on the Boardwalk
An East Coast spy for S&G has had his ear to the ground and reports that a veritable horde of prospective purchaser are descending upon Atlantic City. Casino prices having fallen about as low as they can go, “buy” appears … Continue reading
Deal or no deal?; Two-face Trump; Good news for Adelson
This just in: Poker Stars has announced an agreement to offer Internet gambling in New Jersey via Mohegan Sun-run Resorts Atlantic City. This enables Rational Group to get a U.S. foothold without the inconvenience of buying a physical casino. Colony Capital … Continue reading
Posted in Atlantic City, Colony Capital, Current, Donald Trump, Economy, Internet gambling, Macau, Pennsylvania, Sheldon Adelson, Tourism, Tribal
1 Comment
New bosses at Hooters; Caesars: If it worked for Obama … ?
While nobody wants to buy or even lease the Hooters Hotel, current owners Canyon Capital Realty Advisors at least have found some new gaming expertise for the property. In this case, “new” is a relative term, as the familiar faces … Continue reading
Ohio: A disappointment, not a flop
Editor’s note: On June 20, J.P. Morgan lowered its price-per-share target for Penn National Gaming, citing “the sluggish Ohio ramp,” along with cannibalization of business in neighboring states. On May 22, legislators in Ohio voted to limit payouts from “sweepstakes … Continue reading
Posted in Dan Gilbert, Economy, Harrah's, Internet gambling, Massachusetts, MTR Gaming, New Hampshire, Ohio, Penn National, Pennsylvania, Politics, Racinos, Regulation, Rhode Island, Tribal, Wall Street
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Wynn gets serious in Massachusetts; Little racino bests Caesars
Steve Wynn is engaging a multi-pronged effort to clinch the favor of voters in Everett. Of course, if the Massachusetts Gaming Commission takes time off from generating paperwork to stop and be impressed by Wynn’s campaign, so much the better. Wynn’s … Continue reading
Posted in Architecture, Current, Dan Gilbert, Harrah's, Massachusetts, Ohio, Pennsylvania, Racinos, Regulation, Steve Wynn, Taxes, Tribal
1 Comment
Don’t tell Sheldon!; East Coast misadventures
As EuroVegas appears on the verge of collapse, recent bulletins pile another indignity upon Sheldon Adelson. When Barcelona‘s BCN World wanted to add a casino, it reached 3/4 of the way around the globe to recruit … Melco Crown Entertainment … Continue reading
Wall Street visits Vegas: Wynn, Sands & MGM
Like the pig in a ham-and-egg breakfast, Deutsche Bank is committed to Las Vegas, while many of its brethren (like the chicken) merely hold an interest. However, DB’s $4 billion grubstake fortunately does not preclude analyst Carlo Santarelli from dropping … Continue reading
Posted in Cosmopolitan, Current, Economy, Entertainment, International, Macau, Marketing, Maryland, Massachusetts, Pennsylvania, Regulation, Sheldon Adelson, Steve Wynn, Wall Street
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Woody in Milford; Revel out of Chapter 11; Isle: Pay to play
Foxwoods Resort Casino CEO Scott “Woody” Butera didn’t close the sale with Milford voters earlier this week, but they didn’t slam the door on him either. Rather than prejudice the issue with a town-meeting vote, local sentiment favors a city-wide … Continue reading
Posted in Architecture, Atlantic City, Current, Downtown, Economy, Isle of Capri, Massachusetts, Pennsylvania, Revel, Tribal, Wall Street
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PokerStars blows it; Wynn woos Philadelphia
Score one for Colony Capital: It took Rational Group to the cleaners to the tune of $11 million and there’s nothing Rational can do about it. A New Jersey court ruled that the PokerStars parent company had no one to … Continue reading
