Category Archives: Pinnacle Entertainment

Working-class hero; Caesars courts Philippines

Posted on October 22, 2014 by David McKee

Having thrown its workforce to the wolves as part of its bankruptcy plan — one that may not ultimately save any jobs — Trump Entertainment Resorts has pissed off the wrong guy: state Senate President Stephen Sweeney (D). Chief creditor Carl … Continue reading →

Posted in Boyd Gaming, Carl Icahn, Economy, Genting, International, Kazuo Okada, Louisiana, Melco Crown Entertainment, Pinnacle Entertainment, Politics, Racinos, Revel, Trump Entertainment Resorts | Comments Off on Working-class hero; Caesars courts Philippines

Making sense of Pence; Dan Lee returns (again)

Posted on October 14, 2014 by David McKee

Taking a page from Wisconsin Gov. Scott Walker‘s playbook, Indiana Gov. Mike Pence (R) is trying to have it both ways: oppose “expansion” of gambling but refuse to define aforesaid expansion. With riverboat casinos pressing to come ashore, Pence has … Continue reading →

Posted in Dan Lee, Indiana, Internet gambling, MGM Mirage, New York, Ohio, Palms, Pinnacle Entertainment, Politics | Comments Off on Making sense of Pence; Dan Lee returns (again)

Show Me some results; Wynn vindicated

Posted on October 10, 2014 by David McKee

Wall Street analysts expressed disappointment with last month’s gaming revenues from Missouri. Even a 5%  increase in spending couldn’t offset an 8% decline in foot traffic. A bright spot was that, for the quarter, Pinnacle Entertainment beat J.P. Morgan analyst … Continue reading →

Posted in Economy, Harrah's, Isle of Capri, Japan, Kansas, Massachusetts, Missouri, Mohegan Sun, Penn National, Pinnacle Entertainment, Regulation, Singapore, Steve Wynn, Wall Street | Comments Off on Show Me some results; Wynn vindicated

Ivey loses & sundry Case Bets

Posted on October 9, 2014 by David McKee

Phil Ivey won’t be edge-sorting cards anytime soon. A British judge has ruled that, whether he knew it or not, Ivey was cheating when he won $12 million at Crockfords, a Genting Group casino in London. “He gave himself an advantage … Continue reading →

Posted in Atlantic City, California, Columbia Sussex, Election, Genting, Indiana, International, Japan, Lake Tahoe, Ohio, Penn National, Pinnacle Entertainment, Regulation, Station Casinos, Taxes, Tourism, Tribal, Wall Street, Warner Gaming | Comments Off on Ivey loses & sundry Case Bets

Cornrows and casinos

Posted on October 9, 2014 by David McKee

Those who argue that Iowa is saturated with casinos found plentiful ammunition in the latest set of revenue numbers from the state. True, Hard Rock Sioux City is doing far better than its predecessor, Argosy Sioux City. Also, Harrah’s Council … Continue reading →

Posted in Affinity Gaming, Ameristar, Bally Technologies, Boyd Gaming, G2E, Harrah's, Isle of Capri, Penn National, Pinnacle Entertainment, Warner Gaming | Comments Off on Cornrows and casinos

Okada going slowly; Mixed news in Indiana

Posted on October 8, 2014 by David McKee

Kazuo Okada is butting heads with the Philippine government again. The latter says Okada has to have Marina Bay Resorts open by March of next year or forfeit a $2 million guarantee. Okada, whose project has been dogged by regulatory … Continue reading →

Posted in Boyd Gaming, Harrah's, Indiana, International, Kazuo Okada, Ohio, Penn National, Pinnacle Entertainment, Racinos, Regulation, Tropicana Entertainment | Comments Off on Okada going slowly; Mixed news in Indiana

Boyd, Pinnacle speak

Posted on September 29, 2014 by David McKee

Both Boyd Gaming and Pinnacle Entertainment met with Wall Street analysts this week, everybody being in town for Global Gaming Expo. Boyd CEO Keith Smith and CFO John Hirsberg said they saw an abatement in negative business trends, now confined … Continue reading →

Posted in Ameristar, Arizona, Atlantic City, Boyd Gaming, Downtown, Louisiana, Ohio, Penn National, Pinnacle Entertainment, Racinos, Tilman Fertitta, Tribal, Wall Street | Comments Off on Boyd, Pinnacle speak

Icahn to rescue Taj?

Posted on September 24, 2014 by David McKee

Always unpredictable, Carl Icahn has thrown Trump Entertainment Resorts a lifeline. He’s talking about making a $100 million purchase of the failing property, rolling his $286 million marker into equity … but he’s demanding what are described as “sizeable concessions” from … Continue reading →

Posted in Atlantic City, Carl Icahn, Colorado, Election, Harrah's, Isle of Capri, Louisiana, Maryland, Massachusetts, MGM Mirage, Mississippi, Pinnacle Entertainment, Tropicana Entertainment, Trump Entertainment Resorts | Comments Off on Icahn to rescue Taj?

Foxwoods: Woody exits; Eldorado’s big gains

Posted on September 18, 2014 by David McKee

Foxwoods Resorts Casino‘s financial problems could hardly be called “solved,” but CEO Scott “Woody” Butera plans to leave next month anyway for a non-gaming job. He will continue to advise Foxwoods from his new perch, though, even dickering with the … Continue reading →

Posted in Boyd Gaming, Churchill Downs, Foxwoods, Harrah's, Isle of Capri, Louisiana, Massachusetts, MTR Gaming, Ohio, Penn National, Pinnacle Entertainment, Racinos, Reno, Tropicana Entertainment, West Virginia | 1 Comment

Can’t stop the consolidation

Posted on September 9, 2014 by David McKee

Continuing the shrinkage of the manufacturing sector, Global Cash Access is taking another chess piece — Multimedia Games — off the board. GCA will pay $1.1 billion for Multimedia, which specializes in VLTs for racinos and tribal markets.The price represented … Continue reading →

Posted in Arizona, Foxwoods, Hard Rock International, Harrah's, MTR Gaming, Ohio, Penn National, Pinnacle Entertainment, Racinos, Regulation, Technology, Tribal | Comments Off on Can’t stop the consolidation

Dispatches from Iowa and Illinois

Posted on September 8, 2014 by David McKee

August was a good month for Iowa, as casino revenues rose 4%. The big winner was Pinnacle Entertainment‘s Ameristar Council Bluffs, up 7% with a $15 million gross. Caesars Entertainment had mixed results, with Horseshoe Casino ($16 million) down 3% … Continue reading →

Posted in Boyd Gaming, Harrah's, Illinois, Iowa, Isle of Capri, MGM Mirage, Neil Bluhm, Penn National, Pinnacle Entertainment, Trump Entertainment Resorts, Warner Gaming | Comments Off on Dispatches from Iowa and Illinois

Loveman’s big score; Slots come to Dayton

Posted on August 28, 2014 by David McKee

“You’re in Baltimore, baby, it says so right there, in big gray block letters on a smokestack at the trash plant just past the entrance.” Caesars Entertainment CEO Gary Loveman, long celebrated as the wizard of database market, also finds … Continue reading →

Posted in Baseball, Cordish Co., Genting, Harrah's, Internet gambling, Marketing, Maryland, Ohio, Penn National, Pinnacle Entertainment, Racinos, Sheldon Adelson, Singapore, The Strip, Transportation, Vietnam | Comments Off on Loveman’s big score; Slots come to Dayton

Station’s big quarter; Smoke gets in your slots

Posted on August 13, 2014 by David McKee

Although customers are holding their purse strings tighter, Station Casinos registered noteworthy growth in earnings last quarter. Powered by Graton Resort & Casino in California, Station reported revenue of $55 million, up from $7 million a year earlier. In the … Continue reading →

Posted in California, Dining, Environment, Harrah's, Neil Bluhm, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Station Casinos, Tribal | Comments Off on Station’s big quarter; Smoke gets in your slots

Reality in Illinois, Indiana; Optimism in New York

Posted on August 11, 2014 by David McKee

Illinois has had far worse months than July, which was down only 5%. Admissions were off 9%, implying a 4% higher spend/visitor. Rivers Casino was flat but still managed to gross double what Harrah’s Joliet managed. The latter, however, was … Continue reading →

Posted in Boyd Gaming, Delaware, Economy, Genting, Harrah's, Illinois, Indiana, Massachusetts, MGM Mirage, Neil Bluhm, New York, Penn National, Pinnacle Entertainment, Racinos, Tropicana Entertainment | Comments Off on Reality in Illinois, Indiana; Optimism in New York

No gold rush in California

Posted on August 11, 2014 by David McKee

In a huge setback for Internet gambling, California‘s legislature is calling it a day. State Sen. Lou Correa (D) is not only withdrawing his i-gaming bill from consideration, he’s being termed out at the end of the session, so the cause … Continue reading →

Posted in California, Harrah's, International, Internet gambling, Isle of Capri, James Packer, Melco Crown Entertainment, Missouri, Ohio, Penn National, Pinnacle Entertainment, Politics, Regulation, Sheldon Adelson, Tropicana Entertainment | Comments Off on No gold rush in California

Pinnacle pestered; Penn profits; Pokies pilloried

Posted on July 25, 2014 by David McKee

Orange Capital, calling itself “unsatisfied,” has renewed its pestering of Pinnacle Entertainment to convert itself into a REIT. Orange claims that share value could be increased 60% to 90%. Unfortunately for Pinnacle customers, REITs are required to return 90% of … Continue reading →

Posted in Ameristar, Atlantic City, Australia, Indiana, Louisiana, Missouri, Ohio, Penn National, Pinnacle Entertainment, Problem gambling, Racinos, Tropicana Entertainment, Wall Street | Comments Off on Pinnacle pestered; Penn profits; Pokies pilloried

Great month for the Strip, for Louisiana not so much

Posted on July 25, 2014 by David McKee

Buoyed by heavy baccarat play, the Las Vegas Strip registered a 22.5% gain in June. The house played very lucky, too, with win up a staggering 155%. At the other end of the gaming spectrum, those slots must have been … Continue reading →

Posted in Atlantic City, Boyd Gaming, Churchill Hill, Downtown, Economy, Harrah's, Isle of Capri, Lake Tahoe, Laughlin, Louisiana, North Las Vegas, Penn National, Pinnacle Entertainment, Racinos, Reno, The Strip, Tropicana Entertainment | 1 Comment

So long, Sullivan County

Posted on July 10, 2014 by David McKee

New York State’s Gaming Commission has picked the last two members of the casino-siting committee and it’s pretty bad news for the Catskills region. Both of the finalists are cronies of Gov. Andrew Cuomo (D), as are the three already-seated … Continue reading →

Posted in Atlantic City, Harrah's, Internet gambling, Isle of Capri, Kansas, Missouri, New York, Penn National, Pinnacle Entertainment, Politics, Regulation, Tropicana Entertainment | 1 Comment

Lean and hungry in the Midwest

Posted on July 8, 2014 by David McKee

It’s difficult to find new things to say about Illinois, where the saga has become sadly familiar. Another month, another 11% decline. Even players’ darlings Rivers Casino (-4%) and Jumer’s Rock Island Casino (right, -14%) struggled. However, by some miracle, … Continue reading →

Posted in Boyd Gaming, Current, Harrah's, MGM Mirage, Neil Bluhm, Ohio, Penn National, Pinnacle Entertainment, Tropicana Entertainment | 1 Comment

Reno 2.0; Saturation in Ohio

Posted on July 7, 2014 by David McKee

All roads lead through Reno, more or less, if you’re dealing with Amazon.com. Now the Biggest Little City in the World is hoping to export high-tech instead. A corridor to that purpose, nicknamed “Startup Row” has sprung up downtown. A … Continue reading →

Posted in California, Economy, Harrah's, Ohio, Penn National, Pinnacle Entertainment, Revel | Comments Off on Reno 2.0; Saturation in Ohio