Category Archives: Regulation

Tightening the screws in China; Comeback at Cosmo

Posted on August 15, 2014 by David McKee

  In view of the outflux of currency from China, the country’s symbol seems not so much a Great Wall as a giant sieve. This was symbolized recently by the attempt to control UnionPay cash transfers masquerading as purchases in … Continue reading →

Posted in Cosmopolitan, Dining, Economy, Entertainment, Macau, MGM Mirage, Regulation, The Strip, Wall Street | Comments Off on Tightening the screws in China; Comeback at Cosmo

Atlantic City: Worse to come

Posted on August 15, 2014 by David McKee

If you thought this year’s shrinkage of the Atlantic City casino market from 12 casinos to eight was bad, brace yourself. A Deutsche Bank report predicts more contraction to come. Resorts Atlantic City and Trump Taj Mahal have been marked … Continue reading →

Posted in Atlantic City, Boyd Gaming, Dining, Harrah's, Marketing, Maryland, Mohegan Sun, New York, Regulation, Revel, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts | 2 Comments

Las Vegas: From China, with money

Posted on August 13, 2014 by David McKee

As China pays closer scrutiny to VIP play — and where the money is coming from — it’s driven down the high-end action in Macao … and redirected it toward Las Vegas. Said Telsey Advisory Group analyst Chris Jones, “One thing … Continue reading →

Posted in Economy, International, Macau, Melco Crown Entertainment, MGM Mirage, Regulation, Sheldon Adelson, Steve Wynn, The Strip | Comments Off on Las Vegas: From China, with money

The majesty of the law

Posted on August 12, 2014 by David McKee

For years New Jersey casino regulators have had to endure legislative backchat that they’re overstepping their authority. This week, lawmakers learned that such regulatory authority doesn’t extend as far as they thought. Even in its most dire straits, the Tropicana … Continue reading →

Posted in Atlantic City, Harrah's, Internet gambling, Massachusetts, Regulation, Sheldon Adelson, Steve Wynn, Trump Entertainment Resorts | 1 Comment

MGM’s comeback; Packer’s presumption

Posted on August 12, 2014 by David McKee

MGM Resorts International is feeling optimistic about getting back into Atlantic City (at a time when so many are getting out), to the point of talking about it publicly. “Borgata continues to be the market leader. We’re pretty excited to be able … Continue reading →

Posted in Architecture, Atlantic City, Boyd Gaming, Genting, Harrah's, International, Internet gambling, James Packer, Macau, MGM Mirage, New York, Pansy Ho, Regulation, Singapore, Stanley Ho, The Strip | 3 Comments

SLS: The power behind the throne

Posted on August 12, 2014 by David McKee

Last week, while I was out with an abcessed tooth, SLS Las Vegas had its turn before the Nevada Gaming Control Board. The management structure and financing were so complex that it took SLS nearly four hours to walk regulators … Continue reading →

Posted in Foxwoods, Maryland, Regulation, Sam Nazarian, Taxes | 1 Comment

Revel calls it quits

Posted on August 12, 2014 by David McKee

Enough bids were received for Revel to postpone a bankruptcy auction until Thursday. But yesterday the resort’s board met and decided to cease operations. Whoever wins the auction will inherit Revel’s carcass — not its 3,187 employees, who find themselves … Continue reading →

Posted in Atlantic City, Harrah's, Regulation, Revel | 3 Comments

Caesars’ unmagical empire

Posted on August 11, 2014 by David McKee

Caesars Entertainment ” hasn’t posted a profit since late 2009″ and it kept that perfect streak alive today, more than doubling its 2Q13 loss of $212 million. The company lost $466 million — and I don’t think we can blame it … Continue reading →

Posted in Atlantic City, Harrah's, Internet gambling, Iowa, Maryland, Pennsylvania, Regulation, Reno, Revel, The Strip, Tribal, Wall Street | Comments Off on Caesars’ unmagical empire

No gold rush in California

Posted on August 11, 2014 by David McKee

In a huge setback for Internet gambling, California‘s legislature is calling it a day. State Sen. Lou Correa (D) is not only withdrawing his i-gaming bill from consideration, he’s being termed out at the end of the session, so the cause … Continue reading →

Posted in California, Harrah's, International, Internet gambling, Isle of Capri, James Packer, Melco Crown Entertainment, Missouri, Ohio, Penn National, Pinnacle Entertainment, Politics, Regulation, Sheldon Adelson, Tropicana Entertainment | Comments Off on No gold rush in California

The Macanese squeeze

Posted on August 5, 2014 by David McKee

“Everyone has got dealers and waitresses and cooks and housekeeping and we all got them from the same place … what do you think is going to happen 18 months from now? Exactly the same thing.” That’s the sound of … Continue reading →

Posted in Architecture, Current, Macau, Regulation, Sheldon Adelson, Steve Wynn, Tribal, Wisconsin | Comments Off on The Macanese squeeze

When titans wed; Cupidity at Revel

Posted on August 1, 2014 by David McKee

Just when you thought the manufacturing sector had engaged in enough consolidation that it would take a pause to pay down debt (or at least burp) comes a mega-consolidation. International Game Technology‘s two biggest rivals will become one. Ronald Perelman‘s … Continue reading →

Posted in Atlantic City, Bally Technologies, Cretins, GTECH, IGT, Regulation, Revel, Shuffle Master, Wall Street, WMS Industries | 1 Comment

Argosy Sioux City: 2003-2014

Posted on July 30, 2014 by David McKee

Better get to Argosy Sioux City by 4:59 p.m. if you want to lay down one final bet. The casino will be closing permanently at 5 p.m., in compliance with an Iowa Supreme Court order. The Supremes declined to hear … Continue reading →

Posted in Charity, Horseracing, Iowa, Penn National, Pennsylvania, Regulation, Texas, Warner Gaming | Comments Off on Argosy Sioux City: 2003-2014

Flake-ing out over tribal gambling

Posted on July 29, 2014 by David McKee

It must be nice to have two U.S. senators at your beck and call. That’s the case for tribal opponents of the Tohono O’odham Nation casino proposal. Sens. John McCain and Jeff Flake (R-AZ) are introducing a bill that would make … Continue reading →

Posted in Arizona, Politics, Regulation, Tribal | Comments Off on Flake-ing out over tribal gambling

Hawkeye State showdown

Posted on July 28, 2014 by David McKee

That Iowa Racing & Gaming Commission keeps going from the frying pan to the fire. Former Linn County attorney Gene Kopecky is suing the regulatory body for an unfair restraint of trade. His action is prompted by the denial of … Continue reading →

Posted in Iowa, Penn National, Regulation, Warner Gaming | Comments Off on Hawkeye State showdown

Would you let this man rob your casino?

Posted on July 28, 2014 by David McKee

Despite 14 arrests for cheating at a couple dozen Las Vegas casinos, the Nevada Gaming Control Board never saw fit to nominate hall-of-fame cardshap Jubreal Chahine for inclusion in the Black Book, not even after it publicly characterized him as … Continue reading →

Posted in Cretins, Greenwood Racing, MGM Mirage, Neil Bluhm, Pennsylvania, Regulation, Sheldon Adelson, The Strip | Comments Off on Would you let this man rob your casino?

Regulators to Walsh: Not so fast, friend

Posted on July 25, 2014 by David McKee

Boston Mayor Martin Walsh isn’t getting off the hook so easily. He tried to fob the negotiation of a mitigation agreement with Wynn Resorts off on the Massachusetts Gaming Commission. The latter said ‘not so fast’ and ordered the city … Continue reading →

Posted in Economy, Genting, Harrah's, Illinois, International, Massachusetts, Mississippi, Mohegan Sun, Regulation, Steve Wynn, Wall Street | Comments Off on Regulators to Walsh: Not so fast, friend

Has tribal gaming peaked?

Posted on July 24, 2014 by David McKee

That’s the import of remarks by Assistant Secretary for Indian Affairs Kevin Washburn, testifying before a Senate committee. Not only have revenues plateaued in the $26 billion-$28 billion range, they’ve essentially been the same since 2007. Meanwhile, private-sector gambling is … Continue reading →

Posted in Horseracing, Kentucky, Regulation, Technology, Texas, Tribal | Comments Off on Has tribal gaming peaked?

Glimmers of hope on the Boardwalk

Posted on July 24, 2014 by David McKee

Every morning, Atlantic City Mayor Don Guardian (R) rides his bicycle along the Boardwalk. This morning, Guardian must have felt he was carrying a heavier burden than usual. Although Hizzoner has maintained that Atlantic City will come out on the … Continue reading →

Posted in Atlantic City, Economy, Harrah's, Mississippi, Politics, Regulation, Revel, Trump Entertainment Resorts, Wall Street | Comments Off on Glimmers of hope on the Boardwalk

Adelson goes soft on Communism; Wynn befriends oysters

Posted on July 23, 2014 by David McKee

Sheldon Adelson may play the tough guy at home but he’s a pushover in Macao. Rather than anger his Communist overlords, Adelson apologized for a labor march that just so happened to be held outside Venetian Macao. The protest was … Continue reading →

Posted in Environment, Harrah's, Macau, Massachusetts, Regulation, Sheldon Adelson, Steve Wynn | 1 Comment

Forced to gamble?; SugarHouse goes big

Posted on July 23, 2014 by David McKee

New Jersey‘s Casino Control Commission has been accused of overzealousness in the past (think MGM Resorts International and Pansy Ho). But now some overzealotry is what local politicians want. In a bizarre and probably unconstitutional move, they want the NJCCC to force, … Continue reading →

Posted in Atlantic City, Economy, Harrah's, MGM Mirage, Neil Bluhm, Pansy Ho, Pennsylvania, Regulation, Trump Entertainment Resorts | Comments Off on Forced to gamble?; SugarHouse goes big