Category Archives: Regulation

Revel draws more interest; Risky business

Posted on September 16, 2014 by David McKee

Glenn Straub having put $130 million in escrow just in case his $90 million, all-cash bid on Revel doesn’t do the trick, other bidders are tipping their hands. Money doesn’t mean much to California developer Richard Meruelo, who forfeited a … Continue reading →

Posted in Atlantic City, Glenn Straub, Neil Bluhm, Ohio, Penn National, Pennsylvania, Regulation, Revel, Technology, Tilman Fertitta | 1 Comment

Boston: Wynn takes a stand

Posted on September 16, 2014 by David McKee

Friday will go down as the day Steve Wynn told the Massachusetts Gaming Commission where it could get off. In a letter to the commissioners, Wynn “said Wynn Resorts would not alter the design of their proposed 27-story hotel tower in … Continue reading →

Posted in Architecture, history, Maine, Marketing, Massachusetts, Mississippi, Mohegan Sun, Ohio, Penn National, Racinos, Regulation, Steve Wynn, Transportation | Comments Off

‘I’m poorer than you are’

Posted on September 15, 2014 by David McKee

That’s the argument being reiterated in New York State, as impoverished cities and their would-be casino saviors fight for over one or (more likely) two casino licenses. Case in point: Newburgh, where Mayor Judy Kennedy (left) has become a media celebrity of … Continue reading →

Posted in Architecture, Economy, Genting, Massachusetts, Mohegan Sun, New York, Regulation, Steve Wynn | Comments Off

Wynn battles Boston

Posted on September 12, 2014 by David McKee

Despite leading Mohegan Sun on points, Steve Wynn seems far from a TKO for a Boston casino. (For the full monty on both projects, the Massachusetts Gaming Commission provides heavy detail.) For one thing, Mayor Martin Walsh‘s administration appears to be … Continue reading →

Posted in Horseracing, Massachusetts, Mohegan Sun, Regulation, Rhode Island, Steve Wynn, Transportation | Comments Off

He came to buy Atlantic City

Posted on September 12, 2014 by David McKee

Just when you thought Atlantic City had shed several casinos, they’re coming right back. Would-be Revel buyer Glenn Straub would include casino gambling in his larger strategy for the property but make it incidental to other “hobbies.” “Who in the hell … Continue reading →

Posted in Atlantic City, Glenn Straub, Harrah's, Internet gambling, Politics, Regulation, Revel, Sports, Taxes, Transportation, Trump Entertainment Resorts | 2 Comments

Boston: Another agonizing delay; Loveman: Don’t worry, be happy

Posted on September 11, 2014 by David McKee

Just when it looked like the suspense would be ended over who’d get the Boston-area casino, the slow-moving Massachusetts Gaming Commission imposed another week’s delay on the process. Basically, commissioners want Wynn Resorts to do better than it has in … Continue reading →

Posted in Alabama, Architecture, Atlantic City, Cordish Co., Genting, Harrah's, history, Marketing, Massachusetts, Mohegan Sun, New York, Penn National, Pennsylvania, Regulation, Steve Wynn, Transportation | Comments Off

Atlantic City: MGM returns, Revel sold

Posted on September 11, 2014 by David McKee

There was a happy ending for MGM Resorts International in its long soap opera with New Jersey gaming regulation. The New Jersey Casino Control Commission voted unanimously to relicense the company, reuniting it with Borgata — and with 86 million … Continue reading →

Posted in Atlantic City, Boyd Gaming, Carl Icahn, Donald Trump, MGM Mirage, Pansy Ho, Regulation, Revel, Riviera, The Strip, Trump Entertainment Resorts | 1 Comment

Can’t stop the consolidation

Posted on September 9, 2014 by David McKee

Continuing the shrinkage of the manufacturing sector, Global Cash Access is taking another chess piece — Multimedia Games — off the board. GCA will pay $1.1 billion for Multimedia, which specializes in VLTs for racinos and tribal markets.The price represented … Continue reading →

Posted in Arizona, Foxwoods, Hard Rock International, Harrah's, MTR Gaming, Ohio, Penn National, Pinnacle Entertainment, Racinos, Regulation, Technology, Tribal | Comments Off

MGM courts Japan; More Strip land hits the market

Posted on September 5, 2014 by David McKee

Taking a veiled stab at Las Vegas Sands and Wynn Resorts, MGM Resorts International President William Hornbuckle said that a MGM megaresort in Japan would be “uniquely Japanese, not a copy of an integrated resort from Las Vegas or Singapore.” It … Continue reading →

Posted in Architecture, Downtown, Entertainment, history, James Packer, Japan, Melco Crown Entertainment, MGM Mirage, Regulation, Riviera, Singapore, Station Casinos, The Strip | Comments Off

Sold down the river; Wynn makes critical offer

Posted on September 5, 2014 by David McKee

For sale: One casino riverboat, heavily used. Penn National Gaming asked for — and received — dismissal of a bankruptcy petition, opting to sell the Belle of Sioux City on the open market. You might think it would be difficult … Continue reading →

Posted in Derek Stevens, Dining, Downtown, Entertainment, Iowa, Massachusetts, Penn National, Regulation, Steve Wynn, The Strip | Comments Off

Choke Point or strangulation?; Doing or don’t

Posted on September 4, 2014 by David McKee

In what would seem to be a pretty clear-cut case of regulatory overreach, justified as usual by the War on Terror [sic], the Department of Justice and the FDIC are targeting the casino industry. They don’t just want to know … Continue reading →

Posted in Regulation | Comments Off

Sheldon goes Korean; More casinos for Maine?

Posted on September 3, 2014 by David McKee

Sheldon Adelson wants in on any expansion of South Korea‘s casino and he’s not above using a little muscle to do it. According to Managing Director of Global Development George Tanasijevich, his company, Las Vegas Sands would create “a truly iconic … Continue reading →

Posted in Maine, Massachusetts, New Hampshire, Penn National, Regulation, Sheldon Adelson, Singapore | Comments Off

The fees that ate Las Vegas

Posted on September 3, 2014 by David McKee

First, the good news. Harrah’s Las Vegas casino floor, one of the most claustrophobic and unpleasant in town is getting a makeover. And, while they’re at it, Caesars Entertainment is converting the space formerly occupied by The Cafe at Harrah’s and … Continue reading →

Posted in Dining, Harrah's, International, Maryland, Ohio, Phil Ruffin, Planet Hollywood, Regulation, Singapore, The Strip | Comments Off

Narrow race in Massachusetts; Boffo biz in Alabama

Posted on September 2, 2014 by David McKee

No state that has ever approved casino gambling has repealed it in over 80 years. That being said, casinos are polling weakly in Massachusetts — with support hovering at 50% — and the opposition is getting cocky. A perversely worded … Continue reading →

Posted in Alabama, Architecture, Economy, Election, Florida, Massachusetts, MGM Mirage, Penn National, Regulation, Rhode Island, The Strip, Tribal | 1 Comment

Bad ideas never die; The Fugees; Left holding the bag

Posted on August 26, 2014 by David McKee

Politicians are ever-fond of the notion of using casinos as surrogate police, tasking them with collecting delinquent child-support payments. Louisiana has actually been doing this since 2011 and hit the jackpot: $2 million-plus to date. So where do deadbeat dads … Continue reading →

Posted in Atlantic City, Cantor Gaming, Delaware, Harrah's, Louisiana, Neil Bluhm, Penn National, Pennsylvania, Regulation, Revel, Sports, Taxes | Comments Off

Holy Grail achieved at MGM; Greed and gouing

Posted on August 25, 2014 by David McKee

While all the media hoo-ha was focused on SLS Las Vegas‘ opening last Friday, a comparably historic event took place at the other end of the Strip. New Hampshire resident Walter Misco hit the jackpot on MGM Grand‘s famously stingy … Continue reading →

Posted in Dan Gilbert, Harrah's, MGM Mirage, New Hampshire, Ohio, Regulation, The Strip, Tourism | Comments Off

When the punishment doesn’t fit the crime

Posted on August 21, 2014 by David McKee

Matthew Eisenberg is no Jean Valjean. Still, that’s no excuse for levying upon him a fine that is 375 times the amount he stole ($200 in chips) from Rivers Casino. The fault lies not with Rivers but with Pennsylvania laws. … Continue reading →

Posted in Atlantic City, Genting, Harrah's, International, Pennsylvania, Regulation, Tourism | Comments Off

Case Bets

Posted on August 21, 2014 by David McKee

Any fears of antitrust litigation in the Scientific Games/Bally Technologies merger were put to rest yesterday when the two companies announced they had cleared the Hart-Scott-Rodino Antitrust Improvements Act waiting period ahead of schedule. This is hardly equal to leaping the … Continue reading →

Posted in Bally Technologies, Genting, Harrah's, Japan, Macau, Melco Crown Entertainment, Ohio, Regulation, Riviera, Scientific Games, Sheldon Adelson, Singapore, TV | Comments Off

MGM, Garden State peace talks continue

Posted on August 19, 2014 by David McKee

A situation in which then-MGM Mirage and shareholder Kirk Kerkorian let sentiment trump common sense has long been causing them trouble in New Jersey. But no longer. The Division of Gaming Enforcement has stipulated to an agreement whereby MGM will … Continue reading →

Posted in Atlantic City, Boyd Gaming, Dubai, MGM Mirage, Pansy Ho, Regulation | Comments Off

Life after Revel?

Posted on August 19, 2014 by David McKee

Once safely closed — and rid of those pesky employees — Revel could find itself a valuable commodity again. Salaries really are at the crux of the issue. Current ownership is losing $2 million a week and that “black hole” … Continue reading →

Posted in Atlantic City, Economy, Macau, Racinos, Regulation, Revel, Sheldon Adelson, Singapore, Sports, Taxes | 1 Comment