Category Archives: Pennsylvania

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

From the S&G Twitter feed …

Posted on January 5, 2010 by David McKee

Whilst I try to decipher my notes from the New Year’s Day performance by Carlos Mencia, here’s what you’ve been missing if you don’t follow the S&G Twitter feed (Twitter handle: @stiffsgeorges): • Pittsburgh‘s Rivers Casino sacks exec team, brings … Continue reading →

Posted in CityCenter, Cordish Co., Current, Entertainment, Florida, Harrah's, International, Maryland, MGM Mirage, Neil Bluhm, Pennsylvania, Planet Hollywood, Racinos, Riviera, Singapore | Comments Off on From the S&G Twitter feed …

An open letter from Fred Frazzetta

Posted on January 5, 2010 by David McKee

Most of you, I’m certain, remember Fred Frazzetta, a heroic Nevadan who essentially sacrificed his career to blow the whistle on Harrah’s Entertainment‘s cavalier attitude toward building regulations (and, one might add, customer safety). He sent S&G the following, in … Continue reading →

Posted in Atlantic City, Current, Harrah's, Pennsylvania, The Strip | 6 Comments

Random Downtown observations

Posted on January 5, 2010 by David McKee

On the way back from a fine dinner at the Bay City Diner (good food, better service, plus the $2.99 shrimp cocktail), a few off-the-cuff observations were made. A) Damn few people Downtown, even for midweek. B) The Plaza may … Continue reading →

Posted in Cretins, Current, Downtown, Pennsylvania, Politics, Taxes, The Strip, Tilman Fertitta | 2 Comments

Case Bets: Casino Jack, Harrah’s, Trump, Recovery?

Posted on December 30, 2009 by David McKee

It’s another sad chapter, in the tattered and disgraceful saga of Sun Cruz Casinos. As you recall, this now-idled cruises-to-nowhere fleet was briefly owned by Jack Abramoff, by dint of a tiny bit of fraud. That’s one of the many … Continue reading →

Posted in Current, Donald Trump, Economy, Florida, Harrah's, Laughlin, MGM Mirage, Neil Bluhm, Pennsylvania, Planet Hollywood, Station Casinos, The Mob, The Strip, Tribal | Comments Off on Case Bets: Casino Jack, Harrah’s, Trump, Recovery?

Case Bets: Greektown, Adelson, Philadelphia & Stanley Ho

Posted on December 22, 2009 by David McKee

If a management company increases your revenues in the teeth of the Great Recession — and despite your casino’s well-publicized financial problems — what do you do? Kick them out, of course, if you’re Greektown Casino and you’ve no further … Continue reading →

Posted in Current, Detroit, Macau, Massachusetts, Neil Bluhm, New York, Pennsylvania, Racinos, Sheldon Adelson, Stanley Ho, Steve Wynn, Tribal | 3 Comments

Earth to Adelson, Earth to Adelson …

Posted on December 21, 2009 by David McKee

Las Vegas Sands CEO Sheldon Adelson claims he can finish his two resuscitated Cotai Strip™ casinos (below) and build three more in the next five years. Let the record show that Adelson currently also has casinos in various states of … Continue reading →

Posted in CityCenter, Cordish Co., Current, Economy, Florida, International, Macau, Maryland, MGM Mirage, Movies, New York, Pennsylvania, Politics, Racinos, Regulation, Sheldon Adelson, Singapore, The Strip, Tribal | 2 Comments

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

Case Bets: The Wayner, G2E, Packer & Kerzner

Posted on December 8, 2009 by David McKee

Say what you like about Wayne Newton‘s Once Before I Go at the Tropicana Las Vegas, it has the biggest band you’ll see on the Strip: 20 strong, plus backup singers. Most Strip headliners have to make do with one-third … Continue reading →

Posted in Alex Yemenidjian, Atlantic City, Australia, Carl Icahn, Current, Donald Trump, Economy, Entertainment, G2E, Genting, International, James Packer, Massachusetts, New York, Pennsylvania, Planet Hollywood, Problem gambling, Racinos, Sheldon Adelson, Singapore, Tribal, Tropicana Entertainment | Comments Off on Case Bets: The Wayner, G2E, Packer & Kerzner

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

Sands IPO: bad timing?

Posted on November 24, 2009 by David McKee

If Steve Wynn‘s stock float for his Macao properties hit the Hong Kong bourse at the optimal moment, the tortoise-like progress of Las Vegas Sands‘ offering comes at a price. Specifically, its $1.34 opening price is at the absolute bottom … Continue reading →

Posted in Current, Economy, International, Macau, Pennsylvania, Sheldon Adelson, Singapore, Steve Wynn | Comments Off on Sands IPO: bad timing?

Wynncore: the best revenge

Posted on November 5, 2009 by David McKee

If Wynn Resorts legal beagle Kevin Tourek didn’t make a complete fool of himself with his self-aggrandizing cease-and-desist letter to VegasTripping.com, then VT.com owner Chuck Monster finishes the job with a lengthy and subtly humorous rebuttal. In a lightly ironic … Continue reading →

Posted in CityCenter, Current, Encore, Entertainment, MGM Mirage, Pennsylvania, Steve Wynn, Technology, Tourism, Wall Street | 1 Comment

Quote of the Day

Posted on November 2, 2009 by David McKee

“Penn [National Gaming] said it is still struggling with a consumer spending pullback prompted by the recession. Gamblers have spent less in the casino on non-gaming components such as food, drinks and hotels during the economic downturn as they look … Continue reading →

Posted in Economy, Fontainebleau, Pennsylvania, Wall Street | Comments Off on Quote of the Day

Case Bets: CityCenter, Boyd odyssey, Massachusetts & the “Admiral”

Posted on November 2, 2009 by David McKee

There’s continued apprehension about MGM Mirage‘s $8.5 billion, 7,200-unit CityCenter, especially now that hotel rooms there are going for less than ones at either the Venetian or Encore. (Thinking positively: Who knew CityCenter was going to be so affordable?) Business … Continue reading →

Posted in Architecture, Boyd Gaming, CityCenter, Current, Economy, Encore, Harrah's, Kansas, Massachusetts, MGM Mirage, Missouri, Ohio, Pennsylvania, Pinnacle Entertainment, Sheldon Adelson, The Strip, Tourism, Wall Street | 8 Comments

Go Phils!

Posted on October 30, 2009 by David McKee

Since my sister practices law in the City of Brotherly Love, my rooting interest in the current World Series is with the Philadelphia Phillies. Besides, it’s difficult to warm up to the ruthless efficiency of the New York Yankees as … Continue reading →

Posted in Baseball, Current, New York, Pennsylvania, Sports, Station Casinos | 2 Comments

They’re just wild about Harry

Posted on October 30, 2009 by David McKee

Despite his (at best) tepid standing with the Nevada electorate — whether the right or the left — Sen. Harry Reid (D) has almost every important name in the casino industry in his corner. Sheldon Adelson may yet choose to … Continue reading →

Posted in Archon Corp., Cordish Co., Economy, Election, Entertainment, Harrah's, Harry Reid, International, Macau, Maryland, MGM Mirage, Pennsylvania, Politics, Regulation, Sheldon Adelson, Singapore, Station Casinos, Steve Wynn, Taxes, TV, Wall Street | Comments Off on They’re just wild about Harry

Case Bets: Pinnacle, Pennsylvania, Harrah’s & Sands

Posted on October 30, 2009 by David McKee

Third quarter at PNK: 3Q09 numbers are out for Pinnacle Entertainment and the comparisons cover the spectrum from very good (Lumiere Place up 19%), good (+5% at L’Auberge du Lac) and lousy (-13% aboard Boomtown New Orleans). Once a free-spending … Continue reading →

Posted in Ameristar, Atlantic City, Current, Detroit, Economy, Harrah's, Louisiana, Macau, Marketing, Missouri, Pennsylvania, Pinnacle Entertainment, Problem gambling, Sheldon Adelson, Taxes, Tribal, Wall Street | 2 Comments

Boyd: A waiting game

Posted on October 27, 2009 by David McKee

That’s the economic forecast of J.P. Morgan analysts after Boyd Gaming came in slightly under its cash-flow projections for the third quarter. Borgata remained a bright spot, reaching record levels of market share in Atlantic City (a staggering 19%) in … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, Current, Downtown, Economy, Illinois, Indiana, Louisiana, Morgans Hotel Group, Neil Bluhm, New York, Pennsylvania, Racinos, The Strip, Tourism, Wall Street | 6 Comments

MGM: CityCenter worth $4.88 billion

Posted on October 20, 2009 by David McKee

MGM Mirage has announced that it's writing off approximately $1.3 billion (i.e., taking an "impairment charge") against CityCenter, with $348 million of that chalked up to falling real estate values. (Some $174 million of that will apparently be fobbed off … Continue reading →

Posted in CityCenter, Columbia Sussex, Current, Economy, Kansas, MGM Mirage, Missouri, Neil Bluhm, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Regulation, Taxes, Tourism, Transportation, Wall Street | Comments Off on MGM: CityCenter worth $4.88 billion

Hope for Boardwalk?

Posted on October 13, 2009 by David McKee

As you know, S&G puts more stock in year/year comparisons than sequential ones, but the most recent set from Atlantic City affords a slender reed of hope. With the help of tighter slots, A.C. held its September decline to 6%, … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Colony Capital, Current, Economy, Harrah's, Marketing, Maryland, Neil Bluhm, New York, Pennsylvania, Regulation, Sheldon Adelson, Tourism, Tropicana Entertainment | Comments Off on Hope for Boardwalk?