Category Archives: Pennsylvania

Penn cloning process proceeds

Posted on May 17, 2013 by David McKee

Penn National Gaming has filed paperwork with the SEC for an IPO that would enable you to buy into 19 Penn casinos, including flop Hollywood Perryville (shown). This Penn stalking horse would go by the incredibly generic name of Gaming … Continue reading →

Posted in Architecture, Current, Harrah's, Maryland, Massachusetts, MGM Mirage, Penn National, Pennsylvania, The Strip, Wall Street | Comments Off on Penn cloning process proceeds

Pennsylvania and Louisiana: It’s what it is

Posted on May 16, 2013 by David McKee

When last seen, Caesars Entertainment CEO Gary Loveman was telling his brethren that a stale property is an endangered property. To prove his point, he need look no farther than Philadelphia, where new kid on the block Valley Forge Casino … Continue reading →

Posted in Boyd Gaming, Current, Economy, Genting, Isle of Capri, Louisiana, New York, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Regulation, Sheldon Adelson, Tropicana Entertainment | 1 Comment

Cosmo finally learns; Parx’s Maryland play

Posted on May 13, 2013 by David McKee

We don’t know how it managed it but congratulations to The Cosmopolitan of Las Vegas. It finally realized how to market to those hitherto-elusive creatures known as “gamblers.” Casino revenue shot up 33%, winning $41 million from players, partly due … Continue reading →

Posted in Cosmopolitan, Current, Maryland, MGM Mirage, Penn National, Pennsylvania, Politics, The Strip, Wall Street, West Virginia | Comments Off on Cosmo finally learns; Parx’s Maryland play

I-cahnned! River Palms sold; PokerStars out of A.C., Langford out to lunch

Posted on May 1, 2013 by David McKee

Subtract one casino from the Tropicana Entertainment portfolio: The River Palms Resort & Casino, in Laughlin, just went for $7 million today. TropEnt CEO Anthony Rodio isn’t pulling out of the Colorado River market altogether. He says the company will … Continue reading →

Posted in Atlantic City, Carl Icahn, Colony Capital, Colorado, Columbia Sussex, Current, Economy, Internet gambling, Lake Tahoe, Laughlin, Pennsylvania, Pinnacle Entertainment, Planet Hollywood, Politics, Regulation, Reno, Station Casinos, Tropicana Entertainment | 3 Comments

Good and bad ideas in marketing; Small is beautiful, Vegas

Posted on April 18, 2013 by David McKee

Break out a flagon of whatever Derek Stevens is drinking and put it on my tab, lads. To commemorate the first leg of the Triple Crown, he’s holding a May 3-4 Sigma Derby tournament. Buy-in starts at $50, so starting … Continue reading →

Posted in Architecture, Boyd Gaming, Current, Derek Stevens, Detroit, Downtown, Economy, Goldman Sachs, Harry Reid, history, Horseracing, Marketing, MGM Mirage, Morgans Hotel Group, Pennsylvania, Sam Nazarian, Sports, Station Casinos, The Strip | 1 Comment

Ohio: Penn recovers

Posted on April 8, 2013 by David McKee

Decimation of the slot floor at Hollywood Columbus proved to be just what the doctor ordered, “given the initial lackluster start and relatively low investor expectations,” as J.P. Morgan analyst Joseph Greff writes. Minus 515 machines, revenues at H’wood Columbus … Continue reading →

Posted in Current, Dan Gilbert, Harrah's, MTR Gaming, Ohio, Pennsylvania, Racinos, Wall Street | Comments Off on Ohio: Penn recovers

Your move, Steve Wynn

Posted on February 18, 2013 by David McKee

Philadelphia casino-applicant frontrunner Bart Blatstein has a new sidekick. He’s ditched Hard Rock International in favor of … Isle of Capri Casinos. It’s a big win for Isle and a very embarrassing public setback for the Seminole Tribe, which Blatstein … Continue reading →

Posted in Current, Iowa, Isle of Capri, Penn National, Pennsylvania, Steve Wynn, Tribal | 2 Comments

Case Bets: Binion’s redux; Dr. Doom; Everybody goes to Caesars

Posted on February 15, 2013 by David McKee

Today’s top story is the rumor, first aired on LasVegasAdvisor.com that Binion’s Gambling Hall & Hotel will close in July, lock, stock and million-dollar display. This dovetails with an earlier report that a detailed makeover is in the works. So … Continue reading →

Posted in Architecture, Atlantic City, California, Dan Gilbert, Derek Stevens, Dining, Downtown, Economy, Harrah's, Illinois, Indiana, Internet gambling, Marketing, Massachusetts, Ohio, Oscar Goodman, Palms, Penn National, Pennsylvania, Problem gambling, Racinos, Slot routes, Taxes, Technology, Terry Caudill, The Strip, Tilman Fertitta, Tribal | 3 Comments

All roads lead to Springfield

Posted on February 6, 2013 by David McKee

That idyllic scene above is not Massachusetts but Vermont. However, the Green Mountain State is not only shaped like a funnel, it is one, an untapped market just waiting to be drained by whichever casino lands the coveted western Massachusetts … Continue reading →

Posted in Ameristar, Architecture, Economy, Election, Harrah's, Massachusetts, MGM Mirage, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Regulation, Sheldon Adelson, Steve Wynn, Tribal, Wall Street | Comments Off on All roads lead to Springfield

Case Bets: Super Bowl, WMS, Bally, Wynn, Penn vs. MGM

Posted on February 1, 2013 by David McKee

“The twilight’s last reaming”?!?!? Christina Aguilera said it, I didn’t. Of all the proposition bets being made on Sunday’s “Big Game” (the favored Vegas euphemism), my favorite is how long it will take Alicia Keys to crawl through the National … Continue reading →

Posted in Architecture, Bally Technologies, Current, Economy, Entertainment, IGT, International, Macau, Maryland, Massachusetts, MGM Mirage, Penn National, Pennsylvania, Scientific Games, Slot routes, Sports, Steve Wynn, Tourism, Wall Street, WMS Industries | Comments Off on Case Bets: Super Bowl, WMS, Bally, Wynn, Penn vs. MGM

Penn lowers sights; Sands’ $3 billion quarter

Posted on January 31, 2013 by David McKee

Penn National Gaming trimmed its 2013 revenue projections today by 3% — not surprising, given the “headwinds” represented by recent tax changes that will eat into Americans’ discretionary income. Sluggish early slot performance in the Columbus and Toledo markets was … Continue reading →

Posted in Current, Economy, Election, Marketing, Maryland, Ohio, Penn National, Pennsylvania, Sheldon Adelson, Singapore, The Strip, Wall Street | 1 Comment

Case Bets: Magic Mike; Bahamas boo gambling; New moves in Massachusetts, Philly

Posted on January 30, 2013 by David McKee

Sheldon Adelson being too busy trying to dictate American foreign policy, it was left to his Number Two Man, COO Michael Leven (left) to go to Toronto and make the case for a Las Vegas Sands megaresort. Leven soft-pedaled the … Continue reading →

Posted in Current, Dan Gilbert, Florida, Harrah's, International, Massachusetts, MGM Mirage, Pennsylvania, Regulation, Sheldon Adelson, Singapore, Steve Wynn, Taxes, The Strip, Tourism, Transportation, Tribal | 2 Comments

Adelson fleeing Pennsylvania

Posted on January 18, 2013 by David McKee

Back when Las Vegas Sands was waffling over the completion of Sands Bethlehem and rattling its tin cup for joint-venture partners, I suspected that Sheldon Adelson had lost his stomach for the project and would probably sell it. Sands has … Continue reading →

Posted in Ameristar, Current, Genting, New York, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Racinos, Sheldon Adelson, Steve Wynn, The Strip, Tribal | 3 Comments

Exit Fahrenkopf, enter … ?

Posted on January 7, 2013 by David McKee

After a long (17 years) and eventful tenure at the top of the American Gaming Association, President Frank J. Fahrenkopf is calling it a day. On June 30, he hands over the reins to a successor as yet to be … Continue reading →

Posted in Atlantic City, Australia, Boyd Gaming, Current, Florida, G2E, Internet gambling, Mississippi, Pennsylvania, Politics, Sheldon Adelson, Tribal | 2 Comments

A Christmas wish list …

Posted on December 24, 2012 by David McKee

For those of us who missed it this year, the best Christmas tradition of which I know. First and most importantly … To you, the reader, who makes this possible, a year of happiness, health and wealth, whether material, intellectual … Continue reading →

Posted in Architecture, Atlantic City, Boyd Gaming, Carl Icahn, Cirque du Soleil, CityCenter, Cosmopolitan, Current, Dan Gilbert, Don Barden, Donald Trump, Entertainment, Fontainebleau, Harrah's, IGT, Illinois, Kansas, Massachusetts, MGM Mirage, Neil Bluhm, Penn National, Pennsylvania, Pinnacle Entertainment, Regulation, Revel, Sahara, Sheldon Adelson, Sports, Station Casinos, Steve Wynn, Tamares Group, Tilman Fertitta, Tropicana Entertainment, TV, Wayne F. Newton | 5 Comments

Pinnacle punks Penn, swipes Ameristar

Posted on December 21, 2012 by David McKee

We’ve learned two important things today. One, that the Mayan calendar is not the most reliable predictor of events. Two, that Ameristar Casinos‘ on-again/off-again talk about putting itself up for sale was back in “on” mode. Before hardly anybody got … Continue reading →

Posted in Ameristar, Atlantic City, Boyd Gaming, Columbia Sussex, Cordish Co., Current, Dan Lee, Economy, Election, Goldman Sachs, Harrah's, Indiana, Iowa, Kansas, Louisiana, Maryland, Massachusetts, MGM Mirage, Mississippi, Missouri, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Racinos, Regulation, Sheldon Adelson, Steve Wynn, Taxes, Texas, Wall Street | 1 Comment

Wynn comes (back) to Massachusetts; Revel’s rattling tin cup

Posted on December 5, 2012 by David McKee

Despite several months of doom-and-gloom economic predictions from Steve Wynn, the mogul has decided to “buy American” again, not only returning to the site of previous skirmishes (Philadelphia) but also taking a second run at Massachusetts. S&G was no fan … Continue reading →

Posted in Ameristar, Atlantic City, Cannery Casino Resorts, Current, Economy, Election, Environment, Harrah's, Marketing, Massachusetts, Neil Bluhm, Pennsylvania, Politics, Racinos, Regulation, Revel, Steve Wynn, Tourism, Tribal, Wall Street | Comments Off on Wynn comes (back) to Massachusetts; Revel’s rattling tin cup

A tale of two Penns

Posted on November 16, 2012 by David McKee

Update: Seeking Alpha’s Brad Thomas has run the numbers on the Penn split and doesn’t like the risk/reward scenario. Fifteen years and many consolidations ago, the casino industry was seized by a brain fever. It was set off by the … Continue reading →

Posted in Ameristar, Colorado, Cordish Co., Harrah's, history, Indiana, International, Kansas, Louisiana, Maine, Maryland, MGM Mirage, Ohio, Pennsylvania, Racinos, Regulation, Riviera, Sheldon Adelson, Station Casinos, Steve Wynn, Taxes, Texas, The Strip, Tribal, Wall Street | 2 Comments

Wynn comes to Philadelphia … again; Atlantic City: About as expected

Posted on November 12, 2012 by David McKee

Now we know why Steve Wynn was careful to mend fences with Philadelphia Mayor Michael Nutter (below) in 2010 when negotiations to take over the doomed Foxwoods Casino Philadelphia project abruptly feel apart and Wynn skipped town. He’s back with … Continue reading →

Posted in Atlantic City, Baseball, Colony Capital, Cordish Co., Current, Donald Trump, Economy, Harrah's, Maryland, Neil Bluhm, Penn National, Pennsylvania, Politics, Regulation, Revel, Steve Wynn, Tilman Fertitta, Tribal, Tropicana Entertainment, Wall Street | Comments Off on Wynn comes to Philadelphia … again; Atlantic City: About as expected

Wake up with Loveman; More election aftermath

Posted on November 8, 2012 by David McKee

No sooner were Wall Street analysts uttering serious concerns about a slow post-Sandy recovery for Atlantic City than who should pop up on CBS This Morning but Caesars Entertainment CEO Gary Loveman, doing damage control … It’s hard to decide … Continue reading →

Posted in Atlantic City, Boyd Gaming, Current, Dan Gilbert, Donald Trump, Economy, Environment, Harrah's, Internet gambling, Kentucky, Massachusetts, Pennsylvania, Politics, Regulation, Sheldon Adelson, Steve Wynn, The Strip, Tilman Fertitta, Tourism, Transportation, TV, Wall Street | Comments Off on Wake up with Loveman; More election aftermath