Category Archives: Racinos

Maryland: Who’s got the last laugh now?; Murren goes North, other companies look South

Posted on January 23, 2013 by David McKee

MGM Resorts International, that’s who. As predicted, a lawsuit filed to overturn last November’s casino expansion was laughed out of court. Judge Ronald A. Silkworth called the litigation “baseless,” which is a nice way of saying, “Thanks for wasting my … Continue reading →

Posted in Cirque du Soleil, Current, Economy, Entertainment, Florida, International, Iowa, MGM Mirage, Nebraska, Penn National, Pinnacle Entertainment, Politics, Racinos, Sheldon Adelson, Taxes, Texas, Tribal | Comments Off

Adelson fleeing Pennsylvania

Posted on January 18, 2013 by David McKee

Back when Las Vegas Sands was waffling over the completion of Sands Bethlehem and rattling its tin cup for joint-venture partners, I suspected that Sheldon Adelson had lost his stomach for the project and would probably sell it. Sands has … Continue reading →

Posted in Ameristar, Current, Genting, New York, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Racinos, Sheldon Adelson, Steve Wynn, The Strip, Tribal | 3 Comments

Massachusetts … and then there were 11; End of the Colony Capital era?

Posted on January 16, 2013 by David McKee

“[W]ell-connected developer” — but so not well financed — David Nunes (below) just got his casino-application fee across the transom, meaning that there are 11 contestants vying for two casino licenses and a slot parlor in Massachusetts. A couple of … Continue reading →

Posted in Architecture, Atlantic City, Cordish Co., Harrah's, Internet gambling, Maryland, Massachusetts, Neil Bluhm, Pokergeddon, Racinos, Regulation, Steve Wynn, Taxes, Tribal | 1 Comment

Hollywood, we have a problem; The Marrandino mystery

Posted on January 11, 2013 by David McKee

Ohio casinos had a below-average December, although the blow was softened by table hold of — YEOW! — 23%. That’s borderline-astronomical compared to Las Vegas averages for 2004-2011 period. It’ll help make up for slot revenues that suggest, with six … Continue reading →

Posted in Atlantic City, Boyd Gaming, Cordish Co., Current, Dan Gilbert, Economy, Harrah's, Horseracing, Maryland, MTR Gaming, Ohio, Penn National, Racinos, Regulation, Wall Street | 3 Comments

Revel: Slow learning curve ahead; Sheldon spanked in Singapore

Posted on January 8, 2013 by David McKee

By the time Revel CEO Kevin DeSanctis realizes he’s made a mistake, he’s almost always past the point of no return. Although it is my deeply rooted opinion that smoking is a noxious, disgusting habit that invades other people’s space, … Continue reading →

Posted in Atlantic City, Cordish Co., Current, Economy, Environment, Genting, International, Maine, Marketing, Maryland, Penn National, Problem gambling, Racinos, Regulation, Revel, Sheldon Adelson, Singapore, Wall Street | Comments Off

Pinnacle punks Penn, swipes Ameristar

Posted on December 21, 2012 by David McKee

We’ve learned two important things today. One, that the Mayan calendar is not the most reliable predictor of events. Two, that Ameristar Casinos‘ on-again/off-again talk about putting itself up for sale was back in “on” mode. Before hardly anybody got … Continue reading →

Posted in Ameristar, Atlantic City, Boyd Gaming, Columbia Sussex, Cordish Co., Current, Dan Lee, Economy, Election, Goldman Sachs, Harrah's, Indiana, Iowa, Kansas, Louisiana, Maryland, Massachusetts, MGM Mirage, Mississippi, Missouri, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Racinos, Regulation, Sheldon Adelson, Steve Wynn, Taxes, Texas, Wall Street | 1 Comment

If you can’t beat ’em … move to Ohio

Posted on December 21, 2012 by David McKee

Faced with an intractable Kentucky Legislature and ineffectual advocacy by Gov. Steve Beshear (D-KY), one parimutuel powerhouse from the Bluegrass State is setting up shop in Ohio. Today, Churchill Downs Inc. (in tandem with Delaware North Cos.) closed on its … Continue reading →

Posted in Current, Harrah's, Horseracing, Kentucky, Ohio, Racinos | Comments Off

Wynn comes (back) to Massachusetts; Revel’s rattling tin cup

Posted on December 5, 2012 by David McKee

Despite several months of doom-and-gloom economic predictions from Steve Wynn, the mogul has decided to “buy American” again, not only returning to the site of previous skirmishes (Philadelphia) but also taking a second run at Massachusetts. S&G was no fan … Continue reading →

Posted in Ameristar, Atlantic City, Cannery Casino Resorts, Current, Economy, Election, Environment, Harrah's, Marketing, Massachusetts, Neil Bluhm, Pennsylvania, Politics, Racinos, Regulation, Revel, Steve Wynn, Tourism, Tribal, Wall Street | Comments Off

Lou Lang up to old tricks; Dog-and-pony show at Sahara

Posted on November 20, 2012 by David McKee

For months, state Rep. Lou Lang (D-Skokie), has been threatening to push an enormous gambling expansion through the Illinois Legislature during its lame-duck session. He says he’s “getting very close” but we’ve heard that kind of braying from Lang previously. … Continue reading →

Posted in Architecture, Carl Icahn, Cosmopolitan, Current, Entertainment, Fontainebleau, George Maloof, Harrah's, Illinois, MGM Mirage, Politics, Racinos, Regulation, Sahara, Sheldon Adelson, Slot routes, Steve Wynn, The Strip, Tourism, Transportation | 4 Comments

Wynn cashes out; X Train back on track; Newport Grand out of luck

Posted on November 19, 2012 by David McKee

Caught between the twin hazards of prospective higher taxes on investment income and the looming fiscal cliff, Steve Wynn made headlines today with his $750 million Thanksgiving special dividend, which ought to help pay for all those Black Friday purchases … Continue reading →

Posted in California, Downtown, Election, Penn National, Racinos, Steve Wynn, Tamares Group, Taxes, Transportation, Wall Street | 1 Comment

A tale of two Penns

Posted on November 16, 2012 by David McKee

Update: Seeking Alpha’s Brad Thomas has run the numbers on the Penn split and doesn’t like the risk/reward scenario. Fifteen years and many consolidations ago, the casino industry was seized by a brain fever. It was set off by the … Continue reading →

Posted in Ameristar, Colorado, Cordish Co., Harrah's, history, Indiana, International, Kansas, Louisiana, Maine, Maryland, MGM Mirage, Ohio, Pennsylvania, Racinos, Regulation, Riviera, Sheldon Adelson, Station Casinos, Steve Wynn, Taxes, Texas, The Strip, Tribal, Wall Street | 2 Comments

Louisiana be crazy; Maryland: If you can’t beat ’em …; Revel on the ropes

Posted on November 15, 2012 by David McKee

Casino revenues in the Pelican State were up 2% last month, entirely upon the strength of Pinnacle Entertainment‘s L’Auberge Baton Rouge (above). It propelled the Baton Rouge market 58% upward, grossing $11 million at the expense of Argosy Baton Rouge … Continue reading →

Posted in Atlantic City, Boyd Gaming, CityCenter, Cordish Co., Current, Economy, Election, Harrah's, Iowa, Louisiana, Maryland, Penn National, Pinnacle Entertainment, Racinos, Revel, Taxes, Wall Street | 4 Comments

D, Trop try something different; Cannibalization comes to Ohio

Posted on November 12, 2012 by David McKee

Nothing says ‘November in Las Vegas‘ quite like a beach club. Yes, after unending delays, Nov. 16 is the date certain for the opening of Bagatelle Beach & Supper Club. If Bagatelle does, as promised, deliver “afternoons that transport guests … Continue reading →

Posted in Alex Yemenidjian, Current, Dan Gilbert, Derek Stevens, Downtown, Economy, Entertainment, Harrah's, Marketing, MTR Gaming, Ohio, Penn National, Racinos, The Strip | Comments Off

Election wrap-up: Winners & losers

Posted on November 7, 2012 by David McKee

But first, because it will never, ever get old … Also this, from @daveweigel: “[Florida] exit poll: Obama winning Jewish vote by 40 points. 40 points. Nice work, Sheldon Adelson.” We’ll tap dance on Sheldon’s head some more further down, … Continue reading →

Posted in Atlantic City, Colony Capital, Colorado, Cordish Co., Cretins, Current, Donald Trump, Economy, Election, Florida, Goldman Sachs, Harrah's, International, Internet gambling, Maine, Marketing, Maryland, Massachusetts, Minnesota, Pennsylvania, Politics, Racinos, Sheldon Adelson, Shuffle Master, Steve Wynn, Tribal, TV, Wall Street, West Virginia | 4 Comments

Election Special: Maryland, down to the wire

Posted on November 5, 2012 by David McKee

And now the biggie: Question 7. The quickest way to summarize this is to paraphrase what C.S. Lewis said of Christianity — that slot parlors in Maryland hadn’t been tried and found wanting but were an idea that had been … Continue reading →

Posted in Architecture, Cordish Co., Current, Economy, Election, Harrah's, Internet gambling, Maryland, Massachusetts, MGM Mirage, Penn National, Politics, Racinos, Regulation, Taxes, TV, West Virginia | 4 Comments

Atlantic City open for business

Posted on November 2, 2012 by David McKee

Actually, a few hardy souls — like fearless restaurateur Montgomery Dahm, who was semper fidelis to his fellow citizens — never closed. Add Tun Tavern to your list of must-see stops when you visit Atlantic City. Ditto Ducktown Tavern & … Continue reading →

Posted in Atlantic City, Boyd Gaming, Current, Dining, Economy, Election, Environment, Florida, Racinos, Revel, Tilman Fertitta, Tourism, Transportation, Tribal, Tropicana Entertainment, Wall Street | 2 Comments

Have you seen this man?; Bluhm comes to Beantown

Posted on November 1, 2012 by David McKee

Anyone remember Gov. Steve Beshear (D)? For the five years, he’s been spinning his wheels, trying to get gambling expanded in Kentucky past horse racing. When Beshear ran for reelection last year, his GOP opponent, then-state Senate President David Williams … Continue reading →

Posted in Current, Illinois, Isle of Capri, Kentucky, Macau, Massachusetts, Missouri, Neil Bluhm, Politics, Racinos, Regulation, Tribal | Comments Off

Cosmo: Yes, we have gambling!; Election Special 2: Palm Beach

Posted on October 30, 2012 by David McKee

For the umpteenth time, The Cosmopolitan of Las Vegas has been obliged to go to the media and say, ‘Yes, we not only have gambling but we actually like it, we really do.’ It’s a message that got kicked under … Continue reading →

Posted in Arizona, Cosmopolitan, Current, Dining, Economy, Election, Florida, Isle of Capri, Marketing, Racinos, Sheldon Adelson, Taxes, The Strip, Tourism, Tribal, Wall Street | Comments Off

Pinnacle saves September in Louisiana; Echelon under wraps; The red-headed stepkids of Station, Sands and Caesars

Posted on October 18, 2012 by David McKee

Folks down in the Pelican State had better things to do than gamble last month … like clean up after Hurricane Isaac. This might account for a 5% year/year decline in casino revenues. Louisiana‘s gambling venues grossed $200 million last … Continue reading →

Posted in Boyd Gaming, CityCenter, Current, Economy, Entertainment, Florida, Harrah's, Isle of Capri, Louisiana, Marketing, MGM Mirage, Missouri, Pennsylvania, Pinnacle Entertainment, Politics, Racinos, Regulation, Sheldon Adelson, Station Casinos, Taxes, The Strip, Tourism, Transportation, Wall Street | Comments Off

Election special 1: Oregon, Nevada, Michigan & Rhode Island

Posted on October 17, 2012 by David McKee

It’s time to wind up the S&G electoral machinery and look at casino-related ballot questions that you might be asked to weigh come November. In Arkansas, we’ve already had the piquant spectacle of a gambling ballot initiative that was struck … Continue reading →

Posted in Detroit, Economy, Election, Harry Reid, Illinois, International, Maryland, Massachusetts, Racinos, Rhode Island, Sheldon Adelson, Shuffle Master, Taxes, Tribal, Wall Street | Comments Off