Category Archives: Pennsylvania

Leaving Las Vegas

At least 28,000 have done so over the two years-plus (probably more when you allow for the people still moving here). What are the likely consequences of Las Vegas‘ pegging its future on a one-trick economy? And is it going … Continue reading

Posted in Atlantic City, CityCenter, Current, Detroit, Economy, Election, Horseracing, Indiana, MGM Mirage, Ohio, Pennsylvania, Racinos, The Strip, Tourism, Tribal | Comments Off on Leaving Las Vegas

Leaving Las Vegas

At least 28,000 have done so over the two years-plus (probably more when you allow for the people still moving here). What are the likely consequences of Las Vegas‘ pegging its future on a one-trick economy? And is it going … Continue reading

Posted in Atlantic City, CityCenter, Current, Detroit, Economy, Election, Horseracing, Indiana, MGM Mirage, Ohio, Pennsylvania, Racinos, The Strip, Tourism, Tribal | Comments Off on Leaving Las Vegas

East Coast antics

Wrong again. There I was, thinking the proposed $10 million upfront fee for table games in Pennsylvania was a done deal when the GOP-controlled state Senate upped it to $15 million (and if you don’t pay by June 1, it … Continue reading

Posted in CityCenter, Economy, Entertainment, Environment, Harrah's, Horseracing, MGM Mirage, Penn National, Pennsylvania, Politics, Racinos, Steve Wynn, Taxes, The Strip, Tribal | Comments Off on East Coast antics

What's a Trump casino worth?

Only $14 million in cash (plus a $100 million equity infusion), according to The Donald. Bondholders say, we’ll see your $115 million and raise you $100 million. The latter would recoup at least some — but not very much — … Continue reading

Posted in Atlantic City, Baseball, Current, Donald Trump, Fontainebleau, Harrah's, Harry Reid, Horseracing, Illinois, International, Internet gambling, Lawrence Ho, M Resort, Macau, Massachusetts, Melco Crown Entertainment, Neil Bluhm, Ohio, Oklahoma, Penn National, Pennsylvania, Politics, Regulation, Sheldon Adelson, Slot routes, Sports, Station Casinos, Steve Wynn, Taxes, Texas, Tribal | Comments Off on What's a Trump casino worth?

Case Bets: Corzine, Penn vs. MTR, Pinnacle, Manilow & strippers

Forbidden by New Jersey law from directly contributing to political campaigns, casino companies are making an end run through Virginia. Harrah’s Entertainment, Boyd Gaming and IGT are among those funneling campaign cash into a reverse version on the Underground Railroad. … Continue reading

Posted in Atlantic City, Boyd Gaming, Current, Economy, Election, Entertainment, Harrah's, Horseracing, IGT, Illinois, Iowa, Kansas, Louisiana, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Regulation, The Strip | Comments Off on Case Bets: Corzine, Penn vs. MTR, Pinnacle, Manilow & strippers

Want your ass kicked?

Then go hang out at Stack. If they don’t like your looks, the in-house goons will be sicced on you. And Las Vegans wonder at the schadenfreude so many people feel with regard to Sin City’s current doldrums. No magic … Continue reading

Posted in Colorado, Dining, Election, Harrah's, Illinois, MGM Mirage, Penn National, Pennsylvania, Sheldon Adelson, South Carolina, Taxes, The Strip, Tourism, Transportation | Comments Off on Want your ass kicked?

Masters of the Obvious II

Regarding the punting of casinos from Penghu, the great minds of Wall Street put on their thinking caps and came up with the following, as paraphrased by the Las Vegas Review-Journal: "analysts said the vote could be a viewed as … Continue reading

Posted in Don Barden, Economy, International, Macau, Neil Bluhm, Pennsylvania, Sheldon Adelson, Wall Street | Comments Off on Masters of the Obvious II

Crime doesn't pay; Wyden wimps out

Five dimes worth of damage, $40,000 bail — and all to wrest a measly two grand from some vending machines at Harrah’s Atlantic City. That’s the losing bet made by two security guards. Couple this with the floormen who destroyed … Continue reading

Posted in Atlantic City, Harrah's, Harry Reid, Horseracing, Internet gambling, Louisiana, Neil Bluhm, Ohio, Oklahoma, Pennsylvania, Planet Hollywood, Politics, Sheldon Adelson, Technology, Wall Street | Comments Off on Crime doesn't pay; Wyden wimps out

Cro-Magnon economics; Packer play?; Harrah's boycotted

Still snowed under with non-S&G commitments, but here’s a brief dispatch. First, with apologies to Woody Allen … “The federal stimulus package is so bad” “Yes, and such small portions.” That’s the sum and substance of this diatribe, penned by … Continue reading

Posted in Atlantic City, Boulder Strip, International, James Packer, Pennsylvania | Comments Off on Cro-Magnon economics; Packer play?; Harrah's boycotted

Rivers Casino by the numbers

Now that you can play the slots in Pittsburgh, just what's on tap? J.P. Morgan has published the slot inventory of brand new Rivers Casino and the slot floor (which is 55% reel-spinning) breaks down by denomination as follows: Pennies: … Continue reading

Posted in Don Barden, Neil Bluhm, Pennsylvania, Technology | Comments Off on Rivers Casino by the numbers

Adelson bombing in Pennsylvania; RoboPoker returns; Dissent over Wynn

Both the opening of Sands Bethlehem, and recent expansions of Meadows Racetrack & Casino (+29%) and Mohegan Sun at Pocono Downs (+21%) drove an 18.5% increase in slot revenue this July. With $19.6 million in gross revenue, Sands was only … Continue reading

Posted in Australia, Cannery Casino Resorts, Harrah's, Macau, Pennsylvania, Reno, Sheldon Adelson, Steve Wynn, Technology, Tribal, Wall Street | Comments Off on Adelson bombing in Pennsylvania; RoboPoker returns; Dissent over Wynn

Donald Trump, comedian

This is a joke, right? Three Atlantic City casinos for a slim $100 million? Then again, if Trump Entertainment Resorts financial advisor Lazard only values unloved Trump Marina at $24 million, maybe exiled chairman Donald Trump isn’t so far out … Continue reading

Posted in Atlantic City, Donald Trump, Pennsylvania, TV, Wall Street | Comments Off on Donald Trump, comedian

Case Bets: F'bleau, Adelson, Oscar

Whether it's the banks or the subcontractors, somebody's going to take a big screwing at Fontainebleau. That's the nub of a new lawsuit, whereby developer Jeffrey Soffer asserts that Turnberry West Construction (which he also owns) has superior repayment rights … Continue reading

Posted in Don Barden, Downtown, Entertainment, Fontainebleau, Macau, MGM Mirage, Movies, Oscar Goodman, Pennsylvania, Regulation, Sheldon Adelson, The Strip | Comments Off on Case Bets: F'bleau, Adelson, Oscar

Michael Jackson, casino baron?

As the media rages down Memory Lane, here’s one from the Strange But True file: Michael Jackson partnered with Detroit entrepreneur Don Barden in a scheme to gerrymander a Motown casino into Barden’s hands. I covered the story for Casino … Continue reading

Posted in Detroit, Don Barden, Economy, Genting, International, Neil Bluhm, Pennsylvania, Sheldon Adelson, Singapore | Comments Off on Michael Jackson, casino baron?

The Trop heist that wasn't

"An improvident indictment." That's what New Jersey officials are calling a case that was quietly quashed in May. Sacked Borgata veep John Conklin and two other men had been charged with plundering the Tropicana Atlantic City's database when they were … Continue reading

Posted in Atlantic City, Boyd Gaming, Donald Trump, Entertainment, Golden Gaming, Harrah's, Herbst Gaming, Kansas, Neil Bluhm, North Las Vegas, Pennsylvania, Politics, Sheldon Adelson, Singapore, Taxes, The Strip, Transportation | Comments Off on The Trop heist that wasn't

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.

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 | Comments Off on Surrender in Atlantic City?

Case Bets: Seminoles, Iverson, Harrah's, PartyGaming, Station's luck, etc.

Down in Florida, the tide may be turning in favor of the Seminole Tribe. Both the Florida Retail Federation and Restaurant Lodging Association have thrown their support behind the status quo, as represented by Gov. Charlie Crist‘s Class III casino … Continue reading

Posted in Boyd Gaming, Colony Capital, Detroit, Don Barden, Florida, Harrah's, Horseracing, Internet gambling, Maryland, MGM Mirage, Pennsylvania, Politics, Regulation, Reno, Sports, Station Casinos, Tribal, Wall Street | Comments Off on Case Bets: Seminoles, Iverson, Harrah's, PartyGaming, Station's luck, etc.

Case Bets: Station Casinos, CityCenter, Pittsburgh, James Packer

Credit-default swaps, some of those financial instruments that have played hob with the U.S. economy, are making a cameo appearance in the tortured saga of Station Casinos. If you insured Station's debt, that insurance is worth more than the paper … Continue reading

Posted in Colony Capital, Don Barden, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Neil Bluhm, Pennsylvania, Station Casinos, Wall Street | Comments Off on Case Bets: Station Casinos, CityCenter, Pittsburgh, James Packer

Case Bets: Station Casinos, CityCenter, Pittsburgh, James Packer

Credit-default swaps, some of those financial instruments that have played hob with the U.S. economy, are making a cameo appearance in the tortured saga of Station Casinos. If you insured Station’s debt, that insurance is worth more than the paper … Continue reading

Posted in Colony Capital, Don Barden, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Neil Bluhm, Pennsylvania, Station Casinos, Wall Street | Comments Off on Case Bets: Station Casinos, CityCenter, Pittsburgh, James Packer