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Category Archives: Racinos
The Ribis Factor
Today’s a hectic one: four bylines due and not much time for S&G. However, I am the beneficiary of some number-crunching conducted by a reader, who’s been following the decline and fall of Colony Capital‘s two Atlantic City casinos under … Continue reading
Posted in Atlantic City, Colony Capital, Current, Donald Trump, Economy, Entertainment, George Maloof, Harrah's, Marketing, Mississippi, Planet Hollywood, Politics, Racinos, Taxes, The Strip, Wall Street
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“The American consumer is toast”
If you think MGM Mirage CEO Jim Murren sounds apocalyptic when he forecasts no major development on the Las Vegas Strip until circa 2020 (heck, Carl Icahn may keep Fontainebleau on ice until 2015) then get a load of this … Continue reading
Adelson disappoints again, as does Kansas
“I don’t think we’re counting on them carrying the ball like we thought they would,” is the bottom line of a Wall Street Journal story on Las Vegas Sands‘ failure to complete $743 million Sands Bethlehem. Even though he once … Continue reading
Posted in Current, Economy, Kansas, Lyle Berman, Pennsylvania, Racinos, Regulation, Sheldon Adelson, Steve Wynn, Tourism
2 Comments
Wynn delivers
Surprising as ever, Steve Wynn showed up in Philadelphia yesterday bearing a sheaf of renderings for his proposed casinos — three weeks ahead of schedule. Wynn’s final design looks a mite grander than the one he let Steve Friess photograph, … Continue reading
Dept. of Wishful Thinking
Whatever became of Elad Properties‘ metaresort-sized Plaza project, built upon the ruins of the New Frontier? Reed Construction Data Project Research claims it’s on. Never mind that Elad’s not put so much as a shovel into the ground … or … Continue reading
Posted in Current, Economy, Environment, Gary Goett, Harrah's, M Resort, Massachusetts, Mississippi, New York, Phil Ruffin, Plaza, Racinos, The Strip, Tribal
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Case Bets: Maryland, Foxwoods, problem gambling
It’s not even been 18 months since Maryland voters gave their assent to slot houses — a time in which the state has to erect a regulatory apparatus, vet applicants, and then wait for the latter to get up and … Continue reading
Posted in Cordish Co., Current, Economy, Kansas, Marketing, Maryland, MGM Mirage, New York, Penn National, Pennsylvania, Politics, Problem gambling, Racinos, Regulation, Taxes, Tribal
1 Comment
Bad PR for gaming
Mike Ensign‘s 96 dimes of hush money to his son’s mistress’ pimp daddy (aka Doug Hampton) and “Casino Jack” Abramoff make cameo appearances in this attack ad (found via @RalstonFlash). Throw in the heavy-handed meddling in casino affairs of Gov. … Continue reading
First, the good news …
Congratulations to MGM Mirage for being named, for the fourth time in five years, to DiversityInc‘s “Top 50 Companies for Diversity.” Like predecessor J. Terrence Lanni, not only does CEO Jim Murren say the right things (“As long as I … Continue reading
Posted in Current, Economy, Internet gambling, MGM Mirage, New York, Penn National, Politics, Racinos, Regulation, Sahara, Sheldon Adelson, Sports, The Strip, Wall Street
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Macao’s big ass-month
Casinos in Macao blew way past expectations, raking in $1.6 billion last month (a 70% increase). Stanley Ho‘s SJM widened its lead on Las Vegas Sands, although the latter had more market share (20%) than MGM Grand Macau and Galaxy … Continue reading
Posted in Architecture, Atlantic City, Economy, Environment, Florida, Genting, Harrah's, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Politics, Racinos, Regulation, Sheldon Adelson, Singapore, Stanley Ho, Steve Wynn, The Strip, Tribal, Wall Street
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Case Bets: Wynn in Philly, topless in Vegas, Pegasus crashes
It’s a slow news day in the industry, though not without its amusing elements. For instance, the Philadelphia Inquirer devoted a significant amount of ink to the weighty question of whether half-dozen casinos in the greater Philly area might be … Continue reading
Harrah’s: too big to fail
Take a good look at that fresh-faced man to the left. His name is Jonathan Halkyard and he’s the CFO of Harrah’s Entertainment. If he seems like a kid who’s running up a reckless tab on Dad’s credit card, blame … Continue reading
Posted in Atlantic City, Harrah's, Herbst Gaming, James Packer, Lake Tahoe, Melco Crown Entertainment, Ohio, Planet Hollywood, Racinos, Station Casinos, The Strip, Wall Street
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Aqueduct: Penn got hosed
Despite its runaway hyperbole, this Empire State editorial makes a good point: The Aqueduct racino deal smells like a week-old fish and ought to be investigated. (It isn’t — but it should be.) Since all bids involved multiple players, sorting … Continue reading
Posted in Alabama, Atlantic City, Carl Icahn, Downtown, Fontainebleau, Harrah's, Macau, MGM Mirage, New York, Penn National, Pennsylvania, Politics, Racinos, Sahara, Steve Wynn, Tamares Group, The Strip, Tribal, TV
2 Comments
Macao even more profitable than previously thought
If the Chinese government isn’t handing free money to casino operators in Macao, they’re getting the next best thing: free land. Due to the exceptionally slow-moving nature of Macanese governmental paperwork, casino developers have been able to build on their … Continue reading
Kudos for Loveman
Harrah’s Entertainment is no longer going to the dogs — or won’t be, if it gets its way in Iowa. It’s offered to pay the Hawkeye State a tidy $70 million in exchange for being released from its greyhound-racing requirement … Continue reading
Case Bets: Net Bets, Harrah’s money grab & why China matters
Mark Juliano, CEO of Trump Entertainment Resorts, has been all over the papers lately. First, he came out in support of a massive taxpayer subsidy (backed by two unions) that would forgive Revel 75% of its room and sales taxes … Continue reading
Big payoff for Pennsylvania
Gov. Ed Rendell (D) and other state leaders have got to be feeling the love for the Keystone State‘s budding casino industry, which generated over $1 billion in tax revenue last year. That boffo return was achieved without table games … Continue reading