Category Archives: Racinos

Seminoles’ big payday; ‘Net-bet stampede: It’s on

Posted on March 2, 2011 by David McKee

After a full year of Class III gambling, the Seminole Tribe has grossed $2 billion. Depending on how considerably that amount ramps up, the State of Florida will enjoy at least a $1 billion “rake” by the end of Gov. … Continue reading →

Posted in Architecture, Atlantic City, Current, Florida, Harrah's, Internet gambling, Isle of Capri, Kentucky, MGM Mirage, Politics, Racinos, Sheldon Adelson, Steve Wynn, Taxes, The Strip, Tribal | 4 Comments

Philadelphia’s cup runneth under

Posted on February 16, 2011 by David McKee

Returning to yesterday’s theme of exaggerated expectations of gaming revenues (decanted by casino operators, quaffed uncritically by politicians) we have a glass half-full/half-empty report from Pennsylvania. The salient statistic is that, once five-month-old SugarHouse (left) is factored out, slot revenues … Continue reading →

Posted in Architecture, Cordish Co., Current, Economy, Harrah's, Macau, Maryland, Neil Bluhm, Ohio, Penn National, Pennsylvania, Politics, Racinos, Regulation, Sheldon Adelson, Steve Wynn, Tribal | 3 Comments

Caesars too good for Cincy

Posted on February 11, 2011 by David McKee

Congratulations, Cincinnati, you’re getting a Horshoe-branded casino. Yup, the relatively low-key casino planned for the Queen City’s historic district is getting the most down-market of the company’s three brands. This despite the fact that there’s already a Horseshoe casino just … Continue reading →

Posted in Atlantic City, Current, Economy, Harrah's, Indiana, International, Louisiana, Marketing, Neil Bluhm, Pennsylvania, Racinos | 15 Comments

Burnt out at Marina Bay Sands; Winners in Atlantic City

Posted on January 28, 2011 by David McKee

Another day, another Las Vegas Sands executive falls by the wayside. In the case of Marina Bay Sands, it sounds like CEO Thomas Arasi has been burned out in what must have been a pretty intense 18 months at the … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colony Capital, Cordish Co., Current, Dennis Gomes, Donald Trump, Economy, Harrah's, IGT, International, Macau, Marketing, Maryland, Penn National, Politics, Racinos, Sheldon Adelson, Singapore, Tilman Fertitta, Tourism, Wall Street, WMS Industries | 3 Comments

Adelson dealt a setback

Posted on January 21, 2011 by David McKee

Florida casinos, the latest pet project of Sheldon Adelson and new ally Gov. Rick Scott (R), got the back of the hand from Miami Beach‘s city commission. Since Miami Beach is the most desirable casino zipcode in the state, this … Continue reading →

Posted in Arizona, Boyd Gaming, Current, Florida, Isle of Capri, Kansas, Politics, Racinos, Regulation, Sheldon Adelson, Tribal, Wall Street | 1 Comment

East Coast escalation; A modest reprieve

Posted on January 18, 2011 by David McKee

While I’ve been sorting through the sordid life of Allen R. Glick, things have been heating up back east with regard to casino expansion. A Tuesday-morning dispatch from the analysts at J.P. Morgan ran down the salient developments. First, in … Continue reading →

Posted in Current, Environment, Harrah's, Horseracing, Illinois, Kansas, Massachusetts, Penn National, Pennsylvania, Politics, Racinos, Taxes, Wall Street | Comments Off on East Coast escalation; A modest reprieve

What did I just say?

Posted on January 12, 2011 by David McKee

I’m one state closer to making the “under” on my over/under of states likely to put online wagering on the docket this session. Both houses of the New Jersey Legislature have given their approval to a bill that now goes … Continue reading →

Posted in Atlantic City, Cordish Co., Current, Election, Harrah's, International, Internet gambling, Maryland, Massachusetts, Penn National, Pennsylvania, Racinos, Regulation, Sports, Taxes | 1 Comment

Saved!

Posted on January 12, 2011 by David McKee

Illinois‘ casino industry just dodged a bullet the size of a 747 when the lower house failed to bring a gaming-expansion bill to a vote last night. A new Legislature is sworn in today, sending this colossally bad and ill-timed … Continue reading →

Posted in Cirque du Soleil, Current, Economy, Entertainment, Florida, Harrah's, Illinois, Internet gambling, Macau, Melco Crown Entertainment, Pennsylvania, Politics, Problem gambling, Racinos, Regulation, Sheldon Adelson, Steve Wynn, The Strip | 4 Comments

Upsizing Illinois

Posted on January 7, 2011 by David McKee

Or would “capsizing” be the right word? Late Thursday, Wells Fargo released a study of the effects on Illinois‘ casino market if a massive expansion backed by state Democrats goes through. They’re under the gun, since the whole issue gets … Continue reading →

Posted in Bally Technologies, Boyd Gaming, Current, Don Barden, Economy, Harrah's, IGT, Illinois, Indiana, Mississippi, Missouri, Neil Bluhm, Penn National, Pinnacle Entertainment, Politics, Racinos, Regulation, Wall Street, WMS Industries | 6 Comments

Sheldon: I’ll take Florida

Posted on January 7, 2011 by David McKee

It’s amazing what a transformative effect a night’s stay at Venelazzo will have. After stopping by Sheldon Adelson‘s little pied-a-terre, Florida Gov. Rick Scott (left) has done a 180 on casino expansion in Florida. Now Scott, refreshed by an evening’s … Continue reading →

Posted in Current, Economy, Election, Florida, Genting, Harrah's, Penn National, Pennsylvania, Politics, Racinos, Sheldon Adelson, Singapore, Steve Wynn, Taxes, The Strip, Tourism, Tribal | 1 Comment

For sale: One casino license, slightly used

Posted on December 27, 2010 by David McKee

Legislators are pressing for a free-market solution to debacle that was Foxwoods Philadelphia. Typical of Pennsylvania‘s overhasty implementation of casino gambling, nobody bothered to codify A) what to do with licenses that get revoked or B) whether to refund or … Continue reading →

Posted in Economy, Harrah's, Illinois, Indiana, Neil Bluhm, Pennsylvania, Politics, Racinos | 4 Comments

Oh little casino of Bethlehem

Posted on December 24, 2010 by David McKee

There’s a little something extra in the stockings of Pennsylvania casinos … a rather big something extra, actually. Keystone State casinos grossed 22% more than last November. Throw in a $15 million month at SugarHouse (below) and it’s a 31.5% … Continue reading →

Posted in Economy, Harrah's, International, Neil Bluhm, Penn National, Pennsylvania, Planet Hollywood, Politics, Racinos, Sheldon Adelson, Tribal, TV, Wall Street | Comments Off on Oh little casino of Bethlehem

‘Twere the Case Bets before Christmas

Posted on December 23, 2010 by David McKee

In the casino industry, everything was stirring, including the mice. Cordish’s revenge. It’s a dish best served by opening Cordish Gaming‘s controversial Arundel Mills gambling hall late next year with a temporary, one-year casino. That means karma comes early for … Continue reading →

Posted in Alex Yemenidjian, Animals, Cordish Co., Current, Downtown, Economy, Entertainment, G2E, Harrah's, Internet gambling, Macau, Maryland, MGM Mirage, Minnesota, Ohio, Penn National, Pennsylvania, Politics, Racinos, Singapore, The Mob, The Strip, Tilman Fertitta, Tourism, Tribal, Wall Street | Comments Off on ‘Twere the Case Bets before Christmas

Betting on crime; Anniversary in Indiana

Posted on December 21, 2010 by David McKee

Last week’s big chip heist at Bellagio may have left MGM Resorts International with a smidgen of egg on its face but it’s not as though others in the gambling industry have failed to see the opportunity to make money. … Continue reading →

Posted in California, Carl Icahn, Columbia Sussex, Current, Economy, Entertainment, Horseracing, Indiana, Internet gambling, MGM Mirage, New York, Oscar Goodman, Racinos, Taxes, The Strip, Tourism, Tribal, Tropicana Entertainment | 2 Comments

NLRB deals Wynn a rebuke; The twilight of Stanley Ho

Posted on December 17, 2010 by David McKee

Steve Wynn has enjoyed so many victories in his long-running battle with his casino dealers that he was perhaps overdue for a loss. It came yesterday when the National Labor Relations Board ruled that Wynn Resorts had engaged in retaliation … Continue reading →

Posted in Charity, Current, Election, Iowa, Kansas, Louisiana, Macau, Movies, Politics, Racinos, Regulation, Sheldon Adelson, Stanley Ho, Steve Wynn, The Strip, Tourism, Tribal | 1 Comment

Case Bets: Adelson vs. China; Cirque du Avatar? Indiana wallops Illinois

Posted on December 8, 2010 by David McKee

In a lengthy Asia Times dispatch, the reliable Muhammad Cohen runs through various scenarios about why the government of Macao would pull back two Cotai Strip™ sites from a ‘george’ investor like Las Vegas Sands. Since the acreage will probably … Continue reading →

Posted in Ameristar, Atlantic City, Cirque du Soleil, Colony Capital, Economy, Entertainment, Harrah's, Illinois, Indiana, Macau, MGM Mirage, Movies, Ohio, Penn National, Politics, Racinos, Sheldon Adelson, Stanley Ho, Steve Wynn, Tribal | 3 Comments

Pinnacle sees Kasich, raises him $45 million

Posted on December 1, 2010 by David McKee

Pinnacle Entertainment pushed $45 million worth of chips into the middle of the poker table that is Ohio last week. Buying River Downs is a seven-figure wager that Gov.-elect Jon Kasich will resume outgoing Gov. Ted Strickland‘s push for VLTs … Continue reading →

Posted in Economy, Election, International, Macau, MGM Mirage, Ohio, Pinnacle Entertainment, Racinos, Regulation, Sheldon Adelson, Station Casinos, Tribal | Comments Off on Pinnacle sees Kasich, raises him $45 million

Gaming’s big election night; Coming attractions

Posted on November 9, 2010 by David McKee

This just in: Fuming over a 5,000-vote-plus margin of defeat, opponents of a casino in western Maine are demanding a recount. Casino developer Black Bear Entertainment calls this “a needlessly divisive exercise.” Do I sense the subtle touch of Penn … Continue reading →

Posted in Alex Yemenidjian, Downtown, Economy, Election, Environment, history, Illinois, Iowa, Minnesota, Penn National, Racinos, Sahara | 3 Comments

Iowa is flat

Posted on November 4, 2010 by David McKee

Actually it’s not, if you’ve lived there (as I did for four wonderful years). However, Iowa‘s casino industry is, down one-tenth of a percent from October 2009. Actually, nine of the 17 non-tribal casinos recorded revenue increases, particularly the small … Continue reading →

Posted in Ameristar, Colorado, Cordish Co., Current, Economy, Election, Harrah's, Horseracing, Illinois, Indiana, Iowa, Isle of Capri, Laughlin, Maryland, Missouri, Penn National, Pinnacle Entertainment, Racinos, Steve Wynn, The Strip, Wall Street | 1 Comment

A brief digression … and dark doings in Maine

Posted on November 4, 2010 by David McKee

For those of you who are fascinated by the inexact science known as polling, there’s plenty of interesting reading about What Went Wrong in Nevada (and elsewhere). Major news organizations blew off internal tracking polls, to their eventual mortification. They … Continue reading →

Posted in Economy, Election, Florida, Horseracing, Penn National, Racinos, Taxes, Technology | 2 Comments