Category Archives: Regulation

Wynn hearts Atlantic City; A pointless election

Posted on August 22, 2013 by David McKee

Update: Penn National Gaming has been tipped as a potential buyer for disqualified Plainridge Racecourse. The city has already scheduled a Sept. 10 vote on a slot parlor, so Penn would have less than three weeks to negotiate the essential … Continue reading →

Posted in Atlantic City, Colony Capital, Cordish Co., Current, Election, Florida, Internet gambling, Massachusetts, Penn National, Pennsylvania, Regulation, Revel, Steve Wynn | 2 Comments

St. Louis: Pinnacle out, Icahn in; Cosmo’s death wish

Posted on August 19, 2013 by David McKee

After fielding several offers, Pinnacle Entertainment has liquidated Lumiere Place Casino and its affiliated Four Seasons hotel to … Carl Icahn. Uncle Carl spent $260 million to close the deal. Considering that the book value of Lumiere Place is $401.5 … Continue reading →

Posted in Ameristar, Cantor Gaming, Carl Icahn, Cosmopolitan, Culinary Union, Missouri, Pinnacle Entertainment, Regulation, Sheldon Adelson, The Strip, Wall Street | 2 Comments

Gather ye dividends while ye may

Posted on August 16, 2013 by David McKee

Bally Technologies almost hit the $1 billion mark in revenue ($997 million) during the last fiscal year, which earns it our congratulations. Good work, folks. “We made enormous progress in many different ways, including continued growth in wide-area progressive units, … Continue reading →

Posted in Bally Technologies, California, Illinois, International, Regulation, Shuffle Master, Tribal, Wall Street | Comments Off on Gather ye dividends while ye may

Rising son goes to Land of Rising Sun; The man who would be emperor

Posted on August 16, 2013 by David McKee

After a calamitous and incoherent venture into the U.S. gaming industry, James Packer has stuck pretty close to the markets he knows best: Australia and Macao. But he’s feeling his oats again, looking toward Manila, Sri Lanka (which I still … Continue reading →

Posted in Genting, International, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, Regulation, Stanley Ho | Comments Off on Rising son goes to Land of Rising Sun; The man who would be emperor

This land is their land; Tight money in Pennsylvania

Posted on August 16, 2013 by David McKee

Tribal casinos aren’t just for reservations anymore and it’s becoming a coast-to-coast phenomenon. California legislators already approved one off-reservation casino, to be managed by Station Casinos. The Enterprise Rancheria of the Estom Yumeka Maidu would like to be second. They … Continue reading →

Posted in California, Current, Economy, Foxwoods, Harrah's, history, Massachusetts, Mohegan Sun, Neil Bluhm, Ohio, Penn National, Pennsylvania, Politics, Regulation, Sheldon Adelson, Station Casinos, Tribal, Wall Street | 1 Comment

Pinnacle’s done deal; Collateral damage from Ho Tram

Posted on August 14, 2013 by David McKee

Federal Trade Commission approval removed the last obstacle to Pinnacle Entertainment‘s takeover of Ameristar Casinos. The acquisition closed straightaway. Pinnacle informed investors that it expects to have a Lumiere Place sale done by autumn, meeting the last of the FTC covenants … Continue reading →

Posted in Ameristar, Current, Election, International, Louisiana, Marketing, Massachusetts, MGM Mirage, Missouri, Pinnacle Entertainment, Racinos, Regulation, Tilman Fertitta, Wall Street | 1 Comment

Massachusetts: Small problem for Wynn, big trouble for MGM, Plainridge

Posted on August 12, 2013 by David McKee

Boston still has 10 weeks to reach terms with Suffolk Downs on a billion-dollar racino. That may explain Caesars Entertainment‘s apparent lack of urgency in reaching a host-community agreement. Beantown Mayor Thomas Menino‘s administration seems to be expending considerably more … Continue reading →

Posted in Atlantic City, California, Cordish Co., Current, Harrah's, Marketing, Maryland, Massachusetts, Neil Bluhm, Penn National, Pennsylvania, Politics, Racinos, Regulation, Steve Wynn, Tomato King Procacci, Tribal | Comments Off on Massachusetts: Small problem for Wynn, big trouble for MGM, Plainridge

Quote of the Day

Posted on August 12, 2013 by David McKee

“The level of detail here goes into such things as regulations on roulette balls.” — Massachusetts Gaming Commissioner James McHugh on policies being formulated in the Bay State.

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

Quote of the Day

Posted on August 9, 2013 by David McKee

“I think the Macau government has made it very clear that it will treat every junket application in a fair and equitable way. So if anybody gets a licence I don’t see any problem for any of the concessionaires to … Continue reading →

Posted in Macau, Regulation, Stanley Ho, The Mob | Comments Off on Quote of the Day

Massachusetts: First one bites the dust

Posted on August 6, 2013 by David McKee

Turns out the Massachusetts Gaming Commission was damn serious about financial probity being grounds for disqualification. In a ruling on Plainridge Racecourse, it deemed that owner Ourway Realty displayed “a culture of fear and concealment pervasive in the operations,” including former … Continue reading →

Posted in Architecture, Colorado, Cordish Co., Current, Environment, M Resort, Massachusetts, Neil Bluhm, Penn National, Phil Ruffin, Regulation | 2 Comments

Cosmo plunges again; Nevada signals surrender

Posted on August 5, 2013 by David McKee

Would somebody please sack the so-called casino management and marketing staff at The Cosmopolitan of Las Vegas. Everything at the Cosmo is improving except the gambling floor, which took a 20% nosedive in 2Q13, to $31 million. Losses were 25% … Continue reading →

Posted in Atlantic City, Colony Capital, Cosmopolitan, Current, Dining, Internet gambling, Macau, MGM Mirage, Regulation, Sheldon Adelson, Singapore, Stanley Ho, Steve Wynn, The Mob, The Strip | 5 Comments

Vegas: Remembrance of revenues past; Making the grade in Massachusetts

Posted on August 1, 2013 by David McKee

“I think we are having a limp-wristed sort of crawl out of a hole, but a recovery is a more robust word,” the one and only Steve Wynn said earlier this week. The numbers bear him out, as tourism continues … Continue reading →

Posted in Cordish Co., Current, Dining, Economy, Entertainment, Foxwoods, Harrah's, Massachusetts, MGM Mirage, Mohegan Sun, Racinos, Regulation, Steve Wynn, The Strip, Tourism | Comments Off on Vegas: Remembrance of revenues past; Making the grade in Massachusetts

Seller’s market in A.C.?; Adelson’s new opportunity

Posted on August 1, 2013 by David McKee

According to a certain Pinky Kravitz, two new suitors are afoot on the Boardwalk. One of them is Neil Bluhm‘s SugarHouse Casino, which evidently covets the Atlantic Club (a surprisingly downmarket move for Bluhm). It may have to go up … Continue reading →

Posted in Atlantic City, Boyd Gaming, Colony Capital, Current, Donald Trump, Economy, Environment, Foxwoods, Harrah's, International, Internet gambling, Kansas, Maine, Massachusetts, Neil Bluhm, New Hampshire, New York, Pennsylvania, Regulation, Sheldon Adelson, Taxes, Wall Street | Comments Off on Seller’s market in A.C.?; Adelson’s new opportunity

Silly in Philly; Dinosaurs in Macao; New York’s choice

Posted on July 31, 2013 by David McKee

From the silly file. There’s no reason that any Joe Blow can’t apply for a casino license in Philadelphia. But I get a kick out of fruit-and-vegetable mogul Joseph “Tomato King” Procacci thinking he can actually outdo the likes of … Continue reading →

Posted in Animals, Election, Isle of Capri, Macau, New York, Penn National, Pennsylvania, Problem gambling, Regulation, Stanley Ho, Steve Wynn, Taxes | Comments Off on Silly in Philly; Dinosaurs in Macao; New York’s choice

Adelson loses (again), as does Simpson; Internet stampede in Jersey

Posted on July 31, 2013 by David McKee

Continuing his recent string of futility in the court system, Sheldon Adelson wore the gold sombrero yesterday, after went 0-for-12 in Clark County District Court. Next stop, the Nevada Supreme Court, which has been friendly to the mogul in the … Continue reading →

Posted in Atlantic City, Boyd Gaming, Cretins, Current, Genting, Harrah's, Internet gambling, Macau, Regulation, Sheldon Adelson, Singapore, Station Casinos | Comments Off on Adelson loses (again), as does Simpson; Internet stampede in Jersey

Early reckoning in Macao; Big Gaming’s growing pains

Posted on July 30, 2013 by David McKee

One shouldn’t read too much into anything the Macao government says about casino operators. It likes to keep them guessing — especially U.S. ones. Still, it’s worth noting that Secretary for Economy & Finance Francis Tam Pak Yuen has floated … Continue reading →

Posted in Atlantic City, Delaware, Economy, Genting, Harrah's, Macau, MGM Mirage, New Hampshire, New York, Ohio, Oklahoma, Pennsylvania, Problem gambling, Racinos, Regulation, Sheldon Adelson, Stanley Ho, Tropicana Entertainment | Comments Off on Early reckoning in Macao; Big Gaming’s growing pains

Four years in three minutes

Posted on July 26, 2013 by David McKee

One of the most convoluted controversies in tribal gaming is boiled down with the aid of a whiteboard. This is one story that I’ve always been tempted to include in S&G but find daunting, due to its Byzantine complexity.

Posted in Arizona, Current, Politics, Regulation, Tribal | Comments Off on Four years in three minutes

Fertitta moves on Lake Charles; Sexism triumphs at Boyd; Rhythm City blues

Posted on July 25, 2013 by David McKee

Earlier today, Pinnacle Entertainment announced that it had agreed with Golden Nugget to sell Ameristar Casinos‘ unfinished Lake Charles project at cost ($214 million and climbing). As Deutsche Bank analyst Carlo Santarelli noted, “We view this as a firm positive … Continue reading →

Posted in Ameristar, Atlantic City, Boyd Gaming, Current, Harrah's, Iowa, Maryland, Missouri, Ohio, Pinnacle Entertainment, Racinos, Regulation, Texas, Tilman Fertitta, Wall Street | 2 Comments

More Trop turmoil; Adelson’s new enforcer; Hart vindicated

Posted on July 24, 2013 by David McKee

That Alex Yemenidjian! He just can’t keep the Tropicana Las Vegas out of the headlines — and not in a good way. It’s kicking The One Group out, taking over Bagatelle Beach Club and converting into a by-invitation-only venue for … Continue reading →

Posted in Alex Yemenidjian, Entertainment, IGT, International, MGM Mirage, Regulation, Sheldon Adelson, Technology, The Strip | Comments Off on More Trop turmoil; Adelson’s new enforcer; Hart vindicated

Wynn checkmated in Everett?; Cordish sees Penn, raises ante

Posted on July 22, 2013 by David McKee

As we all would agree, Suffolk Downs doesn’t have the capitalization, the track record or the leadership that Wynn Resorts does. However, Richard Fields and Harvard homeboy Gary Loveman have a big something going for them: juice. I expected their … Continue reading →

Posted in Atlantic City, Cordish Co., Current, Dining, Election, Foxwoods, Genting, Harrah's, Massachusetts, New York, Pennsylvania, Politics, Racinos, Regulation, Revel, Steve Wynn, Taxes, Tribal | 1 Comment