Category Archives: Racinos

Concord in Massachusetts; Mixed bag at Melco

Posted on July 30, 2010 by David McKee

It’s been leaked to the Boston Globe that a deal is at hand that would resolve the impasse currently holding casino-enabling legislation at bay. While still probably not to Gov. Deval Patrick‘s liking (he wants one racino, the compromise bill … Continue reading →

Posted in Arizona, Bally Technologies, Current, Detroit, Economy, Election, IGT, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, Politics, Racinos, Sheldon Adelson, Slot routes, Steve Wynn, The Strip, Tourism, WMS Industries | Comments Off on Concord in Massachusetts; Mixed bag at Melco

Chris Christie, rock star

Posted on July 22, 2010 by David McKee

New Jersey‘s outspoken governor lays down some righteous grooves at Meadowlands, including telling the horsey set what it needs to hear: “I don’t have the money to be subsidizing failure.” Gov. Chris Christie on New Jersey horseracing: this industry has … Continue reading →

Posted in Atlantic City, Colony Capital, Columbia Sussex, Current, Economy, Entertainment, Goldman Sachs, Horseracing, Movies, Politics, Racinos, Regulation, Sheldon Adelson, Station Casinos, Taxes, Technology, Tourism, Wall Street | 3 Comments

Atlantic City: Christie’s coup d’etat

Posted on July 21, 2010 by David McKee

Last week, I tried to work up a piece entitled, “Atlantic City, R.I.P.” After all, the Boardwalk had just come off a catastrophic June, impacted by table games in Delaware. Since table games were in process of sweeping Pennsylvania, from … Continue reading →

Posted in Atlantic City, Colony Capital, Columbia Sussex, Current, Donald Trump, Economy, Entertainment, Harrah's, history, Horseracing, International, Internet gambling, Macau, Marketing, MGM Mirage, Midnight Jim Gibbons, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Racinos, Regulation, Stanley Ho, Taxes, The Mob, Tourism | 6 Comments

Louisiana treads (oily) water

Posted on July 20, 2010 by David McKee

It’s a rare day when one can report that a casino market was down year/year but did better than expected. If you were looking for serious Deepwater Horizon spillover into June’s casino numbers, you’d be surprised. Statewide, casinos were -4.5% … Continue reading →

Posted in Ameristar, Boyd Gaming, Current, Dining, Economy, Environment, Harrah's, Harry Reid, Louisiana, M Resort, MGM Mirage, Penn National, Pinnacle Entertainment, Politics, Racinos, Steve Wynn, The Strip, Wall Street | Comments Off on Louisiana treads (oily) water

Recovery? Not in the cards

Posted on July 19, 2010 by David McKee

Month after month of discouraging data from around the country makes it clear that any recovery in the casino industry is a long way off, perhaps years. Heck, just getting back to 2007 levels of prosperity doesn’t take into account … Continue reading →

Posted in CityCenter, Cosmopolitan, Current, Economy, Encore, Entertainment, Harrah's, Massachusetts, MGM Mirage, Morgans Hotel Group, Politics, Problem gambling, Racinos, Regulation, Sheldon Adelson, Steve Wynn, The Strip, Tourism, Tribal | 7 Comments

Veer-ing toward completion

Posted on July 16, 2010 by David McKee

With completion of Harmon Hotels having vanished into the mists of Time, the opening of Veer Towers effectively represents the end of CityCenter‘s rollout. (If and when the Harmon opens as something other than an office tower — one mooted … Continue reading →

Posted in CityCenter, Current, Economy, Entertainment, Genting, MGM Mirage, New York, Penn National, Racinos, Regulation, Station Casinos, The Strip, Tribal | 2 Comments

Sigma Derby, anyone?; No welcome mat for Wynn

Posted on July 16, 2010 by David McKee

Now from an unpleasant topic to a pleasant one: The oddball casino games that we like to play. For instance, I know we have a few fans of Sigma Derby in the house and MGM Grand obliges us by keeping … Continue reading →

Posted in Boulder Strip, Downtown, Entertainment, Horseracing, Massachusetts, Politics, Racinos, Regulation, Steve Wynn, Technology, The Strip | 5 Comments

Your questions, answered

Posted on July 16, 2010 by David McKee

Paul Shanahan writes (in part): I think Fontainebleau would have looked much better if it was around 500 feet high instead of being close to 730 feet. It looks bulky and just kind of bizarre down there at the north … Continue reading →

Posted in Architecture, Atlantic City, Current, Donald Trump, Environment, Fontainebleau, Harrah's, Massachusetts, Michael Gaughan, Mississippi, Ohio, Racinos, Sheldon Adelson, Steve Wynn, The Mob | 5 Comments

Wynn Beantown?; Adelson likes it rough; “Chico Station,” etc.

Posted on July 15, 2010 by David McKee

“Two can play this game.” That’s the message coming from Steve Wynn. Since his former Philadelphia partners are now playing footsie with Harrah’s Entertainment, Wynn is turning his back on the City of Brotherly Love and shifting his gaze to … Continue reading →

Posted in Ameristar, Boyd Gaming, Environment, George Maloof, Harrah's, Horseracing, Macau, Marketing, Massachusetts, Missouri, Pennsylvania, Politics, Racinos, Regulation, Sheldon Adelson, Singapore, Sports, Station Casinos, Steve Wynn, Technology, The Strip, Tribal, TV | Comments Off on Wynn Beantown?; Adelson likes it rough; “Chico Station,” etc.

Harrah’s checkmates Philly?

Posted on July 12, 2010 by David McKee

That $67 million note Harrah’s Entertainment holds on the site of the Foxwoods Wynn Resorts [your casino here] site in Philadelphia is turning out to be mighty valuable. The gambling giant is looking to roll that I.O.U. into an equity … Continue reading →

Posted in Current, Don Barden, Donald Trump, Harrah's, Mississippi, Neil Bluhm, Pennsylvania, Politics, Racinos, Regulation, Steve Wynn, Tribal | Comments Off on Harrah’s checkmates Philly?

Around the horn

Posted on July 8, 2010 by David McKee

Iowa‘s casino revenues last month were nearly the textbook definition of “flat”: up a tenth of a percent, the first revenue-positive month since February 2009. (Hey, growth is growth. We’ll take it.) The drag anchor on revs was Harrah’s Entertainment, … Continue reading →

Posted in Ameristar, Boyd Gaming, Carl Icahn, CityCenter, Current, Detroit, Don Barden, Economy, Entertainment, Harrah's, Horseracing, Illinois, Indiana, International, Iowa, Isle of Capri, Macau, MGM Mirage, Mississippi, Missouri, Pansy Ho, Penn National, Pinnacle Entertainment, Racinos, Regulation, Stanley Ho, Tribal, Tropicana Entertainment, TV | 2 Comments

Aqueduct: Penn screws the pooch

Posted on July 7, 2010 by David McKee

Since tout  le monde is fixated upon where LeBron James will play next season (is it OK for me to say I don’t care?), this seems like the moment to observe that Penn National Gaming bricked an easy layup. That’s … Continue reading →

Posted in Atlantic City, Cannery Casino Resorts, Current, Economy, Entertainment, Genting, Harrah's, Horseracing, International, New York, Ohio, Penn National, Pennsylvania, Racinos, Regulation | 1 Comment

New casino pitched for Massachusetts

Posted on July 7, 2010 by David McKee

Even though the Massachusetts state Senate has opted to go with destination casinos, Suffolk Downs racetrack is putting its chips on a racino-centric bill currently before the assembly. The track has three things going for it: proximity to Boston plus … Continue reading →

Posted in Atlantic City, Current, Donald Trump, Horseracing, Macau, Massachusetts, Pennsylvania, Politics, Racinos, Sheldon Adelson | 2 Comments

Aqueduct: Then there were three

Posted on June 30, 2010 by David McKee

As the contentious racino contract for Aqueduct Racetrack is rebid, the field has narrowed to three suitors, all of whom are in enviable cash positions. Penn National Gaming‘s bankroll has taken on Holy Grail status, Genting Bhd has a money-spinner … Continue reading →

Posted in Atlantic City, California, Columbia Sussex, Cordish Co., Current, Election, Florida, Genting, Harrah's, history, Lake Tahoe, Maryland, Massachusetts, New York, Ohio, Penn National, Pennsylvania, Politics, Problem gambling, Racinos, Regulation, Reno, Taxes, Tribal | 1 Comment

Penn’s door prize: toxic waste!

Posted on June 29, 2010 by David McKee

Penn National Gaming got a little something extra when it bought an old General Motors site for its Columbus, Ohio casino: 81 sites’ worth of toxic waste, so much sludge it takes 3,000 pages to catalog. Penn didn’t have to … Continue reading →

Posted in Colony Capital, Current, Detroit, Election, Entertainment, Environment, Harrah's, Massachusetts, MGM Mirage, Ohio, Penn National, Politics, Racinos, Regulation, Sahara, Technology, The Strip, Tribal, TV | 3 Comments

Case Bets: Station, Macao, Maryland, Missouri, Mississippi, Encore 2x, etc.

Posted on June 1, 2010 by David McKee

$864.5 million: That’s the magic number if you want to put in an opening bid on 11 Station Casinos properties (plus unspecified land and some tribal-casino-management contracts) come Aug. 6. Boyd Gaming‘s already made it clear that it’s good for … Continue reading →

Posted in Ameristar, Bally Technologies, Boulder Strip, Boyd Gaming, Colony Capital, Current, Economy, Encore, Entertainment, Harrah's, Horseracing, International, Isle of Capri, Macau, Maryland, Mississippi, Missouri, Ohio, Pinnacle Entertainment, Racinos, Regulation, Station Casinos, Steve Wynn, Taxes, The Strip, Tourism, Tribal, Wall Street | 1 Comment

Harrah’s, Penn & pols play chess in Ohio

Posted on May 27, 2010 by David McKee

Even as Harrah’s Entertainment was closing its purchase of an Thistledown Race Track, lawmakers were moving to foreclose the prospect of racinos in that state. This doesn’t preclude Buckeye State voters for approving as many as seven racinos this fall, … Continue reading →

Posted in Current, Harrah's, Horseracing, Ohio, Penn National, Politics, Racinos, Regulation, Taxes | Comments Off on Harrah’s, Penn & pols play chess in Ohio

When in doubt, attack

Posted on May 26, 2010 by David McKee

With New Jersey Gov. Chris Christie waffling and threatening to sidle over to the horsey set, granting them their long-held wish for racinos, former Atlantic City mayor and current state Sen. James Whelan (below) launched a preemptive strike. He wants … Continue reading →

Posted in Atlantic City, Horseracing, Macau, Politics, Racinos | 1 Comment

Gary Loveman, pauper

Posted on May 26, 2010 by David McKee

Count Harrah’s Entertainment CEO Gary Loveman among the victims of the Great Recession. His total compensation for 2009 plummeted over 85%. The $1.9 million base pay is old news; the ex-prof also had to settle for a mere $3 million … Continue reading →

Posted in Boyd Gaming, Cosmopolitan, Economy, Election, Harrah's, Horseracing, Ohio, Penn National, Racinos, Technology, The Strip, Wall Street | 3 Comments

Shel & Bill, together again; Coup for HRH

Posted on May 25, 2010 by David McKee

As though yoked by karma, Las Vegas Sands CEO Sheldon Adelson and former sidekick William Weidner — the Jon & Kate Gosselin of the casino industry — seem destined to remain unwillingly chained together through eternity. Most recently, they’ve been … Continue reading →

Posted in CityCenter, Current, Downtown, Economy, Genting, Harrah's, Herbst Gaming, M Resort, Macau, Marketing, Massachusetts, Morgans Hotel Group, Pennsylvania, Politics, Racinos, Regulation, Sheldon Adelson, Stanley Ho, Texas, Tilman Fertitta, Tourism, Tribal, Wall Street | Comments Off on Shel & Bill, together again; Coup for HRH