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Category Archives: Pennsylvania
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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Cannery sale on ice?
Nevada Gaming Control Board Chairman Dennis Neilander was kind enough to ring up pesky old NGCB detractor S&G today and provide some clarification on why Crown Ltd. and its supremo, James Packer, passed muster in the Silver State but have … Continue reading
Posted in Australia, Boulder Strip, Cannery Casino Resorts, James Packer, Macau, Melco Crown Entertainment, Pennsylvania, Regulation
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Another setback for Packer
Several potential owners of Cannery Casino Resorts want to withdraw from the process rather than disclose their identities to Pennsylvania regulators. In addition, Gretel Packer, sister to Crown Ltd. CEO James Packer, has asked to pull back her license application. … Continue reading
Posted in Cannery Casino Resorts, Horseracing, James Packer, Pennsylvania, Regulation
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Earth to Colony Capital
"If I had a crystal ball two years ago, I would never have taken on that debt. Never, ever. But looking back, we saw growth. That's why we put up that beautiful new tower, with a plan to do extensive … Continue reading
Posted in Atlantic City, Colony Capital, Economy, Pennsylvania
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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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Atlantic City: Two strikes, no balls
This was originally going to be “Death Watch VI” but three of those in a week is positively ghoulish. So, on to the latest disheartening developments from Atlantic City, the casino market that just can’t catch a break. Cease the … Continue reading
Posted in Atlantic City, Columbia Sussex, Economy, Harrah's, Penn National, Pennsylvania, Pinnacle Entertainment, Regulation, Tropicana Entertainment, Wall Street
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The prodigal son
Poor Kerry Packer; the late Australian mogul and famous high roller must be doing all his rolling in the grave now. Reputed for being daring at baccarat and cautious in business, the media baron is at least spared the indignity … Continue reading
Posted in Aristocrat, Boulder Strip, Cannery Casino Resorts, Cosmopolitan, Economy, Fontainebleau, International, James Packer, Macau, Melco Crown Entertainment, Pennsylvania, Singapore, Station Casinos, Steve Wynn, The Strip
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MGM CEO sez, "Make me an offer"
“We are certainly not looking to aggressively sell assets, but the point is that we do have assets that are attractive and we are going to be very responsive.” That's MGM Mirage CEO Jim Murren's way of saying that he's … Continue reading
Posted in Boulder Strip, Cannery Casino Resorts, Cirque du Soleil, Economy, James Packer, MGM Mirage, Pennsylvania, The Strip, Wall Street
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Casino Vote '08: Dan Lee's the big winner
JP Morgan has proclaimed Pinnacle Entertainment “the biggest winner this election day.” By voting to both lift the cap on buy-ins and the close Missouri to additional casinos, Show-Me State voters delivered a gift to Pinnacle CEO Dan Lee, who … Continue reading
Posted in Ameristar, Colorado, Current, Election, Gary Goett, Horseracing, Indiana, Maryland, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Regulation, Taxes
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Wisdom from Wall Street
"Any gaming operator that postpones spending and preserves capital in this environment should be rewarded, in our view." — Stifel Nicolaus & Co. analyst Steven Wieczynski, reacting to news that MGM Mirage had put its Atlantic City and north-Strip projects … Continue reading
Posted in Atlantic City, Boyd Gaming, MGM Mirage, Movies, Pennsylvania, Sheldon Adelson, The Strip, Wall Street
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Adelson's megaphone muted
If Sen. John McCain pulls off the Nov. 4 comeback he’s predicting, it won’t be any thanks to Sheldon Adelson, who puts his mouth where his money is. (Hence those queasy-making odes to Chinese totalitarianism: “People seem to be living … Continue reading
Posted in Columbia Sussex, Election, Kentucky, Macau, Pennsylvania, Sheldon Adelson
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Don't tax me, bro!
Guess who's kvetching about his property tax bill? Why it's our old buddy, Columbia Sussex CEO William J. Yung III — or at least his surrogates at Horizon Vicksburg. It's been the better part of a year since Yung announced … Continue reading
Posted in Atlantic City, Columbia Sussex, Kansas, Mississippi, Morgans Hotel Group, Pennsylvania, Pinnacle Entertainment, Sheldon Adelson, Taxes, Tribal
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The Ameristar war begins
Just a quick hit on my way out the door to spend an evening prepping for The Dark Knight by watching Batman Begins … Ameristar's in play. No news flash there and, for the life of me, I can't figure … Continue reading
Posted in Ameristar, Boyd Gaming, Columbia Sussex, Harrah's, Illinois, Indiana, Isle of Capri, James Packer, MGM Mirage, Penn National, Pennsylvania, Pinnacle Entertainment, The Strip, Wall Street
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Ameristar spurned, Wynn rewarded
What’s worse than being jilted? Being told you’re too ugly to to even date. That’s about what happened to Ameristar Casinos, which just got blown off by Crown Ltd. Then again, look at James Packer’s American holdings and pending acquisitions … Continue reading
Posted in Ameristar, James Packer, Macau, MGM Mirage, Movies, Pennsylvania, Sheldon Adelson, Steve Wynn, The Strip, Wall Street
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MTR in retreat
If MTR Gaming is still afloat today, it’s almost certainly thanks to the fact that its two remaining casinos — racinos in Chester, W.V., and Erie, Penn., enjoy oligopolistic market conditions where competitors are few and far between. A long … Continue reading
Posted in Columbia Sussex, Downtown, Labor, Pennsylvania, The Strip
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