Category Archives: Regulation

Station mixes candor, optimism; Adelson: What’s next?

Posted on November 13, 2014 by David McKee

Station Casinos CFO Marc Falcone wasn’t showing his cards in yesterday’s conference call with analysts. He would only say that, in the wake of Proposition 48‘s defeat in California, Station and the North Fork Rancheria of Mono Indians would explore “other … Continue reading →

Posted in Atlantic City, California, Detroit, Economy, Election, Harry Reid, Internet gambling, MGM Mirage, Politics, Regulation, Sheldon Adelson, Station Casinos, Tribal, Trump Entertainment Resorts | Comments Off on Station mixes candor, optimism; Adelson: What’s next?

Seminole talks to restart; Churchill Downs’ big play

Posted on November 13, 2014 by David McKee

Now that he’s assured of four more years, Florida Gov. Rick Scott (R) can tidy up some unfinished business … like compact negotiations with the Seminole Tribe. The $1 billion/five-year deal currently before the two parties would reward that tribal … Continue reading →

Posted in California, Churchill Downs, Current, Florida, Genting, Hard Rock International, Internet gambling, Racinos, Regulation, Sheldon Adelson, Tribal, Wall Street | Comments Off on Seminole talks to restart; Churchill Downs’ big play

Caesars, the morning after

Posted on November 12, 2014 by David McKee

It’s been a day since Bloomberg News broke the story that Caesars Entertainment is gearing up for a Jan. 14 bankruptcy filing, the day Gary Loveman promised would never come. (By filing on the 14th, Caesars avoids paying $225 million … Continue reading →

Posted in Current, Harrah's, International, Regulation, Wall Street | 1 Comment

Caesars: How do they do it?

Posted on November 11, 2014 by David McKee

This just in: Working with “key senior creditors,” Caesars Entertainment Operating Co. is reported to be arranging a prepackaged bankruptcy, with a target date of Jan. 14. How does Gary Loveman keep his job? If he were a cat, he’d … Continue reading →

Posted in Atlantic City, Economy, Harrah's, Macau, Ohio, Regulation, The Strip, Wall Street, World Series of Poker | Comments Off on Caesars: How do they do it?

Philadelphia decision tipped; Insolvency on the high seas

Posted on November 11, 2014 by David McKee

While we’ve been focused on Boston and New York, a major casino decision in Philadelphia has been creeping upon us. The second casino license in Philly city limits is to be awarded on Nov. 18 and early intel has it … Continue reading →

Posted in Atlantic City, Cordish Co., Economy, Election, Florida, Geoff Freeman, Greenwood Racing, Maryland, Massachusetts, MGM Mirage, Minnesota, Neil Bluhm, Penn National, Pennsylvania, Problem gambling, Regulation, Steve Wynn, Technology, Tomato King Procacci, Tribal, Uncategorized | Comments Off on Philadelphia decision tipped; Insolvency on the high seas

Election ’14: The day after

Posted on November 6, 2014 by David McKee

MGM Resorts International didn’t wait for the ballots to get cold. It had equipment on site in downtown Springfield yesterday, conducting “geotechnical soil assessments” on the future site of the parking garage. Laying out a timeline for the project MGM … Continue reading →

Posted in Atlantic City, Boyd Gaming, California, Election, Georgia, Harrah's, Internet gambling, Massachusetts, MGM Mirage, PokerStars, Regulation, Sheldon Adelson, Tribal, Wall Street | 1 Comment

Rough times in Macao; The NFL’s double standard

Posted on November 3, 2014 by David McKee

At least in relative, this month is shaping up as the worst in Macao‘s casino history, with the gambling industry looking at a 23% drop in gross receipts. And when 80% of your economy is predicated on casinos, you’ve got … Continue reading →

Posted in Architecture, Atlantic City, International, Macau, MGM Mirage, Regulation, Sheldon Adelson, South Korea, Sports, Steve Wynn | 2 Comments

Mark your ballots; Trump Taj: Welfare queen

Posted on November 3, 2014 by David McKee

Tomorrow we get to exercise that precious franchise, the vote. So don’t oversleep, ‘kay? As everyone knows by now, the big rumble is in Massachusetts, where an attempt to repeal the state’s casino law is failing by a substantial margin in … Continue reading →

Posted in Atlantic City, California, Colorado, Election, Kansas, Massachusetts, MGM Mirage, Penn National, Politics, Racinos, Regulation, Rhode Island, South Dakota, Station Casinos, Steve Wynn, Tribal, Trump Entertainment Resorts | Comments Off on Mark your ballots; Trump Taj: Welfare queen

Impatience in Philly; Big sting at Caesars

Posted on October 29, 2014 by David McKee

It’s been eight months since the Pennsylvania Gaming Control Board held suitability hearings for awarding Philadelphia‘s second and final casino license. Those deliberations seem to have receded in the hazy yon of the past. It’s a situation that’s not sitting well … Continue reading →

Posted in Cannery Casino Resorts, Harrah's, Internet gambling, Law enforcement, Macau, Penn National, Pennsylvania, Racinos, Regulation | Comments Off on Impatience in Philly; Big sting at Caesars

The village idiot; Knuckle-dragging in Maryland

Posted on October 29, 2014 by David McKee

Every city has its cross to bear. In the case of Las Vegas, it’s former steroid user, baseball player and serial dumbass Jose Canseco. He obviously skipped firearm-safety class the day they told you to make sure your gun is … Continue reading →

Posted in Cordish Co., Cretins, Entertainment, Harrah's, International, Maryland, Planet Hollywood, Regulation, Technology, The Strip | Comments Off on The village idiot; Knuckle-dragging in Maryland

Wynn confounded; Sands gets tough

Posted on October 29, 2014 by David McKee

During yesterday’s call with gaming analysts, Steve Wynn admitted to being “confused” by a Macao gaming market where revenues in October could fall 20%-23%. “The new regulations in smoking, the turmoil in Hong Kong lately, in the month of October, and … Continue reading →

Posted in Architecture, Macau, Massachusetts, Regulation, Sheldon Adelson, Steve Wynn, Tourism, Wall Street | Comments Off on Wynn confounded; Sands gets tough

Warfare in California; Turnover at SLS

Posted on October 27, 2014 by David McKee

Fear of spreading off-reservation gambling are fueling opposition to Proposition 48, which would ratify a casino compact in the greater Fresno area. The North Fork Rancheria Band of Mono Indians, supported by Station Casinos, would be permitted to open a … Continue reading →

Posted in California, Charity, Detroit, Election, James Packer, Politics, Regulation, Sam Nazarian, Station Casinos, Tribal | Comments Off on Warfare in California; Turnover at SLS

No sports betting for New Jersey; Christie’s quest

Posted on October 27, 2014 by David McKee

Much as might be expected, a federal judge handed down an injunction preventing Monmouth Park from taking sports wagers last weekend. Track advisor Dennis Drazin tried to shrug off the setback, calling it “only a step in the road.” State … Continue reading →

Posted in Atlantic City, Delaware, Economy, Harrah's, Regulation, Sports, Taxes | Comments Off on No sports betting for New Jersey; Christie’s quest

All’s well at Penn; Casinos wary of Uncle Sam

Posted on October 24, 2014 by David McKee

Helped by better-than-expected performances at M Resort and Hollywood Casino at Charles Town Races, beating its own estimates, Penn National Gaming exceeded Wall Street’s consensus for 3Q14. Cannibalization of Charles Town has not been as great as was feared and … Continue reading →

Posted in Ameristar, Atlantic City, Boyd Gaming, Delaware, Election, Harrah's, M Resort, Massachusetts, MGM Mirage, Missouri, Mohegan Sun, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Regulation, Sports, Tilman Fertitta, West Virginia | Comments Off on All’s well at Penn; Casinos wary of Uncle Sam

Reading Loveman’s tea leaves

Posted on October 23, 2014 by David McKee

Gary Loveman has made a lot of mistakes as Caesars Entertainment CEO but building a convention center in Atlantic City wasn’t one of them. In fact, it’s been one of his better ideas. While he was in town to put … Continue reading →

Posted in Architecture, Atlantic City, Economy, Entertainment, Harrah's, Massachusetts, Regulation, Sheldon Adelson, Sports, Steve Wynn, The Strip, Trump Entertainment Resorts | 2 Comments

Fire sale at Full House; Japan: Patience advised

Posted on October 22, 2014 by David McKee

In the casino world it’s pretty much unheard-of for a company to hang a “for sale” sign on itself without a suitor in view. Patti Hart did it successfully at International Game Technology, earlier this year. Now Full House Resorts … Continue reading →

Posted in Alabama, Dan Lee, G2E, Genting, Harrah's, IGT, Indiana, Japan, Neil Bluhm, Regulation, Sheldon Adelson, Steve Wynn, Tribal | Comments Off on Fire sale at Full House; Japan: Patience advised

Caesars flirts with Chapter 11; MGM sells relic

Posted on October 17, 2014 by David McKee

Caesars Entertainment CEO Gary Loveman has as much as said bankruptcy would happen over his dead body. Funeral services may be held in January. Caesars, y’see, has filed for an amendment on its debt that would give senior bondholders first … Continue reading →

Posted in Harrah's, Herbst Gaming, Illinois, MGM Mirage, Regulation, Slot routes, Wall Street | Comments Off on Caesars flirts with Chapter 11; MGM sells relic

Wynn blocked in Boston?

Posted on October 17, 2014 by David McKee

While we wait for Boston Mayor Martin “McCheese” Walsh to pile on, the City of Revere and Local 103 of the International Brotherhood of Electrical Workers have done the inevitable and filed suit against the Massachusetts Gaming Commission, demanding that the … Continue reading →

Posted in Atlantic City, Massachusetts, Mohegan Sun, Regulation, Steve Wynn, Trump Entertainment Resorts | 1 Comment

An Angry Bird in the hand …

Posted on October 15, 2014 by David McKee

Although the relationship between casinos and skill-based games (poker excepted) has been that of vampire and crucifix, Atlantic City casinos are coming around to the idea of monetizing Words with Friends, say, for the casino floor. There’s even a “New … Continue reading →

Posted in Atlantic City, International, Regulation, Sports, Technology | Comments Off on An Angry Bird in the hand …

Showdown at Chukchansi; Turnover at Caesars

Posted on October 14, 2014 by David McKee

As though the Chukchansi Gold Resort & Casino didn’t have enough problems, it’s been closed following an armed confrontation on the casino floor. U.S. District Judge Lawrence O’Neill ordered the shutdown, seconded by the National Indian Gaming Commission, which deemed … Continue reading →

Posted in California, Election, Harrah's, Massachusetts, MGM Mirage, Regulation, Tribal, TV, Wall Street | Comments Off on Showdown at Chukchansi; Turnover at Caesars