Category Archives: Racinos

MGM: Crossing fingers and hoping; Bloodbath in Indiana

Posted on December 10, 2013 by David McKee

After several ups and downs, MGM Resorts International finds itself justthisclose to a casino in Springfield, Massachusetts. The state’s equivalent of the Nevada Gaming Control Board urged a finding of suitability. Whether the circumspect Massachusetts Gaming Commission agrees hangs upon … Continue reading →

Posted in Affinity Gaming, Atlantic City, Harrah's, Macau, Massachusetts, MGM Mirage, Ohio, Pansy Ho, Penn National, Pinnacle Entertainment, Racinos, Regulation, Technology | Comments Off on MGM: Crossing fingers and hoping; Bloodbath in Indiana

Caesars’ big bazaar; Psychic powers in Massachusetts; When is a profit not a profit?

Posted on December 4, 2013 by David McKee

Linq is shaping up handsomely and its Ferris wheel just had its last gondola added yesterday. So, if we can put Caesars Entertainment‘s debt problems aside for a second, the company is doing very nicely in the capex department, where … Continue reading →

Posted in Delaware, Harrah's, International, Iowa, Isle of Capri, Louisiana, Massachusetts, Racinos, Regulation, The Strip, Wall Street | Comments Off on Caesars’ big bazaar; Psychic powers in Massachusetts; When is a profit not a profit?

Suffolk Downs: Devil in the details; Wynn exculpated

Posted on November 22, 2013 by David McKee

Suffolk Downs has yet to reveal how it will shoehorn a $1 billion casino into the Revere portion of its property. However, its struggle to do so is being made even harder both by opposition groups and Boston politicians who’s … Continue reading →

Posted in Architecture, Arizona, Downtown, Massachusetts, Mohegan Sun, Racinos, Regulation, Tribal | Comments Off on Suffolk Downs: Devil in the details; Wynn exculpated

Freeman vs. Adelson; Kentucky tries again

Posted on November 21, 2013 by David McKee

In a particularly stunning departure from American Gaming Association tradition, new prexy Geoff Freeman took a jab at Las Vegas Sands CEO Sheldon “Nuke ‘Em” Adelson in the pages of USA Today. Of course, Freeman didn’t mention Adelson explicitly. But … Continue reading →

Posted in Atlantic City, Columbia Sussex, Harrah's, Internet gambling, Kentucky, Marketing, New York, Penn National, Pennsylvania, Politics, Racinos, Regulation, Sheldon Adelson, Taxes | Comments Off on Freeman vs. Adelson; Kentucky tries again

Japan factor overrated?; Gural’s head start

Posted on November 20, 2013 by David McKee

Skepticism is starting to emerge regarding Union Gaming Group‘s projection of $10 billion a year from Japanese casinos, should they be legalized. Among the reasons given are that “whales” from Japan aren’t a major factor in Pacific Rim casinos. Also, … Continue reading →

Posted in Japan, Marketing, New York, Penn National, Racinos, Scientific Games, Tribal, Wall Street, WMS Industries | Comments Off on Japan factor overrated?; Gural’s head start

The little slot company that could; Thinking small in New York; Thinking big in Macao

Posted on November 15, 2013 by David McKee

Earlier this week, Howard Stutz looked into the fascinating story of Multimedia Games, beloved of stock analysts but shunned by share buyers. What’s not to like? Multimedia widened its profit last quarter, to $10 million. Sales in FY13 rose 27%, … Continue reading →

Posted in International, Japan, Macau, New York, Racinos, Stanley Ho, Technology, Wall Street | Comments Off on The little slot company that could; Thinking small in New York; Thinking big in Macao

Foxwoods, Suffolk struggling in Massachusetts

Posted on November 14, 2013 by David McKee

Foxwoods Resorts Casino‘s inability to keep its financial house in order has, as predicted, caught up with it in Massachusetts. The tribally owned casino’s debt burden put it in the hot seat before the Massachusetts Gaming Commission. Chairman Stephen Crosby … Continue reading →

Posted in Election, Foxwoods, Genting, Harrah's, Internet gambling, Massachusetts, New York, Racinos, Technology, The Mob, The Strip | 1 Comment

A New York State of mind; What price corruption?

Posted on November 8, 2013 by David McKee

New York State Gov. Andrew Cuomo (D) came out of hiding to crow about the big casino victory last Tuesday. He and his allies are being credited with keeping the Proposal One campaign focused on education aid and job creation, … Continue reading →

Posted in Atlantic City, Current, Election, Foxwoods, Harrah's, International, M Resort, Mohegan Sun, New York, Penn National, Racinos | 2 Comments

Suffolk Downs: Life after Caesars; PokerStars nixed?

Posted on November 8, 2013 by David McKee

Another day, another occasion to scratch one’s head over the casino-averse culture in Massachusetts. The Boston Globe‘s Shirley Leung does her usual Chicken Little routine, lamenting that the Bay State may get no casinos at all. (Fret not, Shirley, somebody … Continue reading →

Posted in Atlantic City, Colony Capital, Election, Foxwoods, Greenwood Racing, Internet gambling, Maine, Massachusetts, Mohegan Sun, Pokergeddon, Racinos, Regulation, Rhode Island, Taxes, Tribal | 1 Comment

Indiana up and down; Garber agonistes

Posted on November 8, 2013 by David McKee

Casinos in Indiana grossed 3% less last month but still far outperformed ($193 million) neighboring Illinois and Ohio. Patron traffic was 9% down but visitor spend rose 7%. Penn National Gaming‘s Hollywood Lawrenceburg got absolutely hammered by new competition from … Continue reading →

Posted in Boyd Gaming, Charity, Cordish Co., Current, Economy, Harrah's, Indiana, Internet gambling, Japan, Massachusetts, MGM Mirage, Ohio, Penn National, Pinnacle Entertainment, Racinos, Regulation, Station Casinos, Tropicana Entertainment | Comments Off on Indiana up and down; Garber agonistes

Penn overboard!; Macao’s zenith

Posted on November 7, 2013 by David McKee

First the good news about Ohio: Gambling revenue was up 47% last month. Now, the bad news. One a same-store basis it was down 2% year/year. Who knew the Buckeye State would get saturated so quickly? The statewide gross was … Continue reading →

Posted in Atlantic City, Boyd Gaming, Current, Dan Gilbert, Delaware, Economy, Harrah's, Illinois, Internet gambling, Macau, Melco Crown Entertainment, MGM Mirage, Missouri, MTR Gaming, Neil Bluhm, Ohio, Penn National, Racinos, Sheldon Adelson, Stanley Ho, Station Casinos, Tourism, Wall Street | 1 Comment

MGM Springfield keeps its fingers crossed

Posted on November 7, 2013 by David McKee

And then there was one … MGM Springfield. But you won’t hear MGM Resorts International execs popping champagne corks or seeing them do victory laps. The Massachusetts Gaming Commission has already warned that it’s not required to issue a license. … Continue reading →

Posted in Dan Gilbert, Horseracing, Macau, Massachusetts, MGM Mirage, Mohegan Sun, Neil Bluhm, Racinos, Regulation, Reno, Stanley Ho, Uncategorized | Comments Off on MGM Springfield keeps its fingers crossed

Caesars to Empire State; Colony to Chapter 11

Posted on November 7, 2013 by David McKee

When Caesars Entertainment made a discreet donation to the pro-casino campaign in New York State, we should have known that something was up. Sure enough, state Sen. John Bonacic (R) says Caesars is interested in a Sullivan County casino. Then … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colony Capital, Current, Dan Lee, Donald Trump, Foxwoods, Harrah's, MGM Mirage, New York, Pennsylvania, Pinnacle Entertainment, Racinos, Sheldon Adelson, Wall Street | 1 Comment

Election Day!; Mad Max; Deadpan humor in Wisconsin

Posted on November 5, 2013 by David McKee

Today’s a big day for casino-related votes in New York State and Massachusetts. In the former, New York City holds the key to the outcome. The Five Boroughs are expected to represent for 42% of statewide voting. Mind you, NYC wouldn’t … Continue reading →

Posted in Atlantic City, Current, Economy, Election, Foxwoods, Harrah's, history, Horseracing, Marketing, Massachusetts, MGM Mirage, Mohegan Sun, New York, Pennsylvania, Politics, Racinos, The Strip, Tourism, Tribal, Wisconsin | Comments Off on Election Day!; Mad Max; Deadpan humor in Wisconsin

Parx: Pay as you go; Muted rapture in California

Posted on October 23, 2013 by David McKee

Parx Casino in Raynham, Massachusetts, will cost $277 million. Parx has $231 million in the kitty. How does the company propose to make ends meet? It will erect a temporary slot facility while the permanent one is built. This temporary … Continue reading →

Posted in Atlantic City, California, Encore, Internet gambling, Massachusetts, Racinos, Revel, Station Casinos, Tribal, Trump Entertainment Resorts | Comments Off on Parx: Pay as you go; Muted rapture in California

Scott Walker, optimist; Having it both ways in Kentucky

Posted on October 14, 2013 by David McKee

Wisconsin Gov. Scott Walker (R) must have an upbeat disposition. He’s going to try and get representatives of all of the state’s gambling-enabled tribes in a room this week. The subject, of course, is the Menominee Tribe‘s Dairyland proposal, which … Continue reading →

Posted in Delaware, Economy, Kentucky, Racinos, Sports, Taxes, Tribal, Wisconsin | Comments Off on Scott Walker, optimist; Having it both ways in Kentucky

Indiana: Worse than expected?

Posted on October 9, 2013 by David McKee

Despite per-patron spending that was up 7% last month, a 16% falloff in admissions more than negated it. Depending on whether one counts tax-deductible free play or not, Indiana was anywhere from 9.5% to 11% down last month. Tight consumer … Continue reading →

Posted in Boyd Gaming, Economy, Harrah's, Indiana, Ohio, Penn National, Pinnacle Entertainment, Racinos, Wall Street | 1 Comment

Florida: Clear as mud; MGM lands Lakers

Posted on October 9, 2013 by David McKee

So, the Florida Lege commissioned this $400,000 study of casino expansion and nobody can agree on what it means. Spectrum Gaming Group, which performed the survey, is having to explain why it projected so much more revenue when Genting Group … Continue reading →

Posted in Atlantic City, Delaware, Economy, Florida, Genting, MGM Mirage, Politics, Racinos, Sports, The Strip, Tribal | Comments Off on Florida: Clear as mud; MGM lands Lakers

A good day for Caesars

Posted on September 26, 2013 by David McKee

In a preliminary victory for Caesars Entertainment, the vote on its Suffolk Downs racino proposal will be restricted to the East Boston ward. Sentiment is expected to run more heavily pro-Caesars there than in Boston at large. (The company plans … Continue reading →

Posted in Election, Entertainment, Harrah's, Maryland, Massachusetts, Racinos, The Strip | Comments Off on A good day for Caesars

Caesars spooks Wall Street; Florida fumbles

Posted on September 26, 2013 by David McKee

Not surprisingly, Caesars Entertainment stock took a dip this morning. Why the lack of surprise? The company is further diluting its value by preparing to issue 10 million additional shares of common stock. “While we would view the announcement as … Continue reading →

Posted in Atlantic City, Donald Trump, Florida, Harrah's, Internet gambling, Phil Ruffin, Politics, Racinos, Sheldon Adelson, Steve Wynn, Taxes, Wall Street | 1 Comment