Category Archives: Regulation

Penn bullish on Trop; DraftKings can’t help itself

Posted on October 19, 2015 by David McKee

J.P. Morgan analyst Joseph Greff met with Penn National Gaming executives and found them very upbeat on the Tropicana Las Vegas, even though it grosses less than $54 million a year. “Of the three million Marquee Rewards members, Penn estimates … Continue reading →

Posted in Internet gambling, Marketing, Penn National, Regulation, The Strip, Wall Street | 2 Comments

James Packer thinks big; DFS’ self-inflicted wound

Posted on October 19, 2015 by David McKee

One scarcely thinks of Crown Resorts as anything but an upmarket brand. However, as it contemplates debuting in Las Vegas and pines after Japan, Crown is developing a new, luxury brand. The unlikely template will be a $1.1 billion, 90-story … Continue reading →

Posted in Australia, California, Delaware, Illinois, James Packer, Japan, Macau, Mississippi, Ohio, Pennsylvania, Regulation, Sheldon Adelson, Sports, The Strip | Comments Off on James Packer thinks big; DFS’ self-inflicted wound

Quote of the Day

Posted on October 16, 2015 by David McKee

“When you legalize a form of gambling, the state looks around, finds out what the highest rate is in the country, and then goes higher.” gaming-law expert I. Nelson Rose on what the daily fantasy sports industry should be prepared to … Continue reading →

Posted in Regulation, Sports, Taxes | Comments Off on Quote of the Day

Steve Wynn’s an unhappy camper

Posted on October 16, 2015 by David McKee

A decade ago, Steve Wynn would badmouth doing business in Nevada and warble sweet hymns to that capitalist’s paradise, China. How times change. On yesterday’s quarterly earnings call, Wynn was apoplectic about the Chinese government’s shifting policies in re Macao. “In … Continue reading →

Posted in Economy, Galaxy Entertainment, International, Lawrence Ho, Macau, Marketing, Melco Crown Entertainment, MGM Mirage, Regulation, Steve Wynn, The Strip, Wall Street | 4 Comments

DFS banned in Nevada

Posted on October 16, 2015 by David McKee

Well … not exactly, but the roof came crashing in for DraftKings, FanDuel and their ilk yesterday when the Nevada Gaming Commission sent them a cease-and-desist order, instructing that daily fantasy sports pools quit taking action from Nevada-based players until … Continue reading →

Posted in Foxwoods, Massachusetts, Mohegan Sun, Penn National, Regulation, Sports | Comments Off on DFS banned in Nevada

Fantastic month for Atlantic City; Gural gets his wish

Posted on October 15, 2015 by David McKee

As the window for apples-to-oranges comparisons of Atlantic City casino revenue closes, so does the gap between same-store and outright gross-gaming revenues. In September, casinos were up 10% on a same-store basis (i.e., excluding the four closed ones from the … Continue reading →

Posted in Atlantic City, Boyd Gaming, Election, Harrah's, Internet gambling, Massachusetts, MGM Mirage, Mohegan Sun, New York, Penn National, PokerStars, Regulation, Rhode Island, Tilman Fertitta, Tourism, Tropicana Entertainment, Trump Entertainment Resorts | Comments Off on Fantastic month for Atlantic City; Gural gets his wish

DFS rose fast, fell faster

Posted on October 15, 2015 by David McKee

This just in: Nevada has lowered the boom on DFS operators. The fat’s in the fire for daily fantasy sports — and New Jersey might want to rethink its push for unregulated sports betting in the Garden State. According to … Continue reading →

Posted in Atlantic City, Geoff Freeman, International, Louisiana, New York, Regulation, Sheldon Adelson, Sports, Texas, TV | Comments Off on DFS rose fast, fell faster

Quote of the Day

Posted on October 14, 2015 by David McKee

“I believe that UIGEA is the most overrated, misapprehended, misquoted and misunderstood Federal statute in gaming. It does not preempt state law and it does not prevent the state regulators and state law makers from making their own determinations as … Continue reading →

Posted in Internet gambling, Regulation | Comments Off on Quote of the Day

So long, Sammy; DFS gets a wakeup call

Posted on October 8, 2015 by David McKee

As predicted here, Sam Nazarian has liquidated his 10% stake in SLS Las Vegas to majority owner Stockbridge Capital Group. He’ll still get some extra cash out of the deal, which licenses his SLS brand to Stockbridge (although you could … Continue reading →

Posted in Aristocrat, G2E, Regulation, Sam Nazarian, SLS Las Vegas, Sports, Wall Street | Comments Off on So long, Sammy; DFS gets a wakeup call

No boost for Illinois; The wrath of Wynn

Posted on October 7, 2015 by David McKee

So much for the invigorating effect of Labor Day weekend. Even with a holiday, September in Illinois still saw a decline in casino revenue. Casinos in the Land of Lincoln were down 5% for the month. Foot traffic fell 2% … Continue reading →

Posted in Boyd Gaming, GLPI, Harrah's, Illinois, Massachusetts, MGM Mirage, Neil Bluhm, Penn National, Regulation, Slot routes, Sports, Steve Wynn | Comments Off on No boost for Illinois; The wrath of Wynn

Quote of the Day

Posted on October 7, 2015 by David McKee

“We believe sentiment has recently benefitted from comments made earlier this month by Li Gang, the director of the Liaison Office between Macau and Mainland China, where he stated that the central government is going to release more measures to … Continue reading →

Posted in Economy, Macau, Regulation | Comments Off on Quote of the Day

Trouble in Fantasyland

Posted on October 6, 2015 by David McKee

Remember, it’s not whether you win or lose but whether you covered the spread. Untoward, insider dealings in a completely unregulated, gray-area, half-understood  industry? Why, I’m shocked, I tell you, shocked! At least the allegations of self-dealing within DraftKings and … Continue reading →

Posted in Regulation, Sports | Comments Off on Trouble in Fantasyland

MGM reassures Springfield; New gig for Loveman

Posted on October 6, 2015 by David McKee

MGM Resorts International President William Hornbuckle‘s promptly arranged visit to Springfield took on the nature of a damage-control effort yesterday. Hornbuckle made an unequivocal commitment to the city, saying, “We have not gone anywhere, we will not go anywhere and we … Continue reading →

Posted in Boyd Gaming, Florida, Harrah's, Massachusetts, MGM Mirage, Regulation, Technology | Comments Off on MGM reassures Springfield; New gig for Loveman

MGM sends emissary to Springfield; Florida tribe takes a loss

Posted on October 5, 2015 by David McKee

Undoubtedly realizing that it laid a public-relations egg with its scaled-down redesign of MGM Springfield, parent company MGM Resorts International is sending President William Hornbuckle to Springfield to mend fences with Mayor Domenic Sarno. Actually, Sarno has been in MGM’s … Continue reading →

Posted in Architecture, Economy, Florida, Massachusetts, MGM Mirage, Penn National, Regulation, Steve Wynn, Tribal, Wall Street | Comments Off on MGM sends emissary to Springfield; Florida tribe takes a loss

Turning point for Wynn; Breakthrough for PokerStars

Posted on October 1, 2015 by David McKee

Earlier this week, the Everett Planning Board unanimously assented to Wynn Everett‘s site plan. The Medford Patch described this vote as “the most critical local permit needed by Wynn.” The resort-to-be can start pulling building permits now, with the actual … Continue reading →

Posted in Atlantic City, Economy, Environment, Harrah's, Internet gambling, Massachusetts, MGM Mirage, Mohegan Sun, PokerStars, Politics, Regulation, Sheldon Adelson, Steve Wynn, The Strip, Transportation, Tribal | 1 Comment

Shocker from Sheldon; Massachusetts on horns of a dilemma

Posted on September 29, 2015 by David McKee

After a half-dozen years of banging its head on the door of the Florida Legislature, a frustrated Las Vegas Sands is calling it quits in the Sunshine State. Despite having poured millions of dollars into the Florida GOP and its … Continue reading →

Posted in Florida, Foxwoods, Georgia, Harrah's, Massachusetts, MGM Mirage, Mohegan Sun, Neil Bluhm, Politics, Regulation, Seminole Tribe, Sheldon Adelson, Tribal | 1 Comment

Quote of the Day

Posted on September 29, 2015 by David McKee

“Under federal law, the state cannot stop an Indian casino from opening, but the Gaming Commission can help it succeed, by denying the Brockton license. Given the debt Massachusetts owes to the Wampanoags, that only seems right.” — the editorial … Continue reading →

Posted in Massachusetts, Neil Bluhm, Regulation, Tribal | Comments Off on Quote of the Day

Boston offers Wynn olive branch; MGM played for a sucker in Springfield?

Posted on September 25, 2015 by David McKee

Could the war of words between Steve Wynn and Boston Mayor Martin “McCheese” Walsh soon be coming to an end? Wynn, who last month declared himself finished with an “obviously irresponsible” Walsh, had a phone chat with McCheese to discuss … Continue reading →

Posted in Election, Foxwoods, LVCVA, Massachusetts, MGM Mirage, Mohegan Sun, Regulation, Steve Wynn, Taxes, The Strip, Transportation | Comments Off on Boston offers Wynn olive branch; MGM played for a sucker in Springfield?

Wrist-slaps in New Jersey; China tries to sever chains

Posted on September 25, 2015 by David McKee

First, the good news. New Jersey‘s geolocation and age-verification technology is catching underage gamblers. The bad news is that wannabe adolescent Phil Iveys are getting onto casino Internet sites and wagering. So are self-excluded players. The New Jersey Division of Gaming … Continue reading →

Posted in Atlantic City, Australia, Boyd Gaming, International, Internet gambling, Maryland, Mississippi, Mohegan Sun, Philippines, Regulation, Sheldon Adelson, South Korea, Tropicana Entertainment | Comments Off on Wrist-slaps in New Jersey; China tries to sever chains

The mystery of Steve Wynn; DFS steps in it

Posted on September 24, 2015 by David McKee

For the third time, Steve Wynn has pulled back from Atlantic City. This time he’s yanking Wynn Interactive‘s application for an online casino. The move comes an awfully long time after Wynn announced his opposition to Internet wagering, so who knows … Continue reading →

Posted in Atlantic City, Culinary Union, Election, Genting, Geoff Freeman, Harrah's, International, Internet gambling, New York, Oklahoma, PokerStars, Regulation, Sheldon Adelson, Sports, Steve Wynn, Taxes, Tribal | 1 Comment