Category Archives: Regulation

Bad day for Okada; Good month for Macao

Posted on May 30, 2013 by David McKee

It’s back to the starting point for Kazuo Okada, controversial former business partner of Steve Wynn and CEO of Universal Entertainment Corp. The latter’s attempt to enter the Philippines casino market (left) fell apart along with a deal with Robinsons … Continue reading →

Posted in Current, Economy, International, Macau, Melco Crown Entertainment, MGM Mirage, Regulation, Stanley Ho, Steve Wynn | Comments Off on Bad day for Okada; Good month for Macao

Illinois: Not so fast!; Adelson pursues world domination

Posted on May 30, 2013 by David McKee

It really looked like the fix was in, the deal was done and existing casino operators in Illinois were about to thrown to the slaughter by legislators hungry for licensing fees. But the wheels of the grand plan are coming … Continue reading →

Posted in Current, Election, Illinois, International, Macau, Neil Bluhm, Penn National, Politics, Regulation, Sheldon Adelson, Slot routes, Taxes, The Strip, Tourism, Wall Street | 1 Comment

Pinnacle: The cost of the deal

Posted on May 30, 2013 by David McKee

Pinnacle Entertainment finds itself in an interesting pickle today: It’s awfully far into its Federal Trade Commission-blocked purchase of Ameristar Casinos to blow it up by, say, selling three or more Ameristar properties or otherwise triggering a fallout. And if … Continue reading →

Posted in Ameristar, CityCenter, Current, Harrah's, Internet gambling, Louisiana, Macau, Melco Crown Entertainment, MGM Mirage, Missouri, Penn National, Regulation, Sheldon Adelson, Vdara Death Ray, Wall Street, World Series of Poker | Comments Off on Pinnacle: The cost of the deal

Feds balk at Pinnacle/Ameristar deal

Posted on May 29, 2013 by David McKee

Given the supine attitude toward mergers and acquisitions that has prevailed in Washington, D.C., for the past 15 years and the routine, state-by-state approval of Pinnacle Entertainment‘s takeover of Ameristar Casinos, I had erroneously thought it a done deal. Not … Continue reading →

Posted in Cosmopolitan, Current, Economy, Harrah's, Illinois, Isle of Capri, Louisiana, MGM Mirage, Missouri, Penn National, Pinnacle Entertainment, Regulation, The Strip, Tourism, Wall Street | 2 Comments

Adelson: He’s taking it with him; Nevada casinos win one, in principle

Posted on May 29, 2013 by David McKee

Las Vegas Sands CEO Sheldon Adelson continues to burn through company at what would — for most ordinary firms — be a frightful clip. Clark County District Judge Rob Bare tacked $31.6 million onto a $70 million jury award to … Continue reading →

Posted in Current, Harry Reid, Macau, Marketing, Melco Crown Entertainment, Midnight Jim Gibbons, Politics, Regulation, Sheldon Adelson, Taxes | Comments Off on Adelson: He’s taking it with him; Nevada casinos win one, in principle

New Maryland casino a hit; Casino lobbying a flop; Next: Sands Markham?

Posted on May 29, 2013 by David McKee

A thousand people waiting to get into a casino on opening day would be nothing at all in Las Vegas. But at Maryland‘s penultimate casino, Rocky Gap Resort, it’s a positive omen, especially since the mini-sino has but 10 tables … Continue reading →

Posted in Atlantic City, Current, International, Internet gambling, Lyle Berman, Marketing, Maryland, Politics, Regulation, Sheldon Adelson, Singapore, Sports, Tribal | Comments Off on New Maryland casino a hit; Casino lobbying a flop; Next: Sands Markham?

The Caesars squeeze

Posted on May 28, 2013 by David McKee

While the emperor (CEO Gary Loveman) may have escaped the Ides of March this year, knots of discontented tribunes are gathering on the Forum steps, muttering darkly.  A cabal of hedge funds led by Silver Point Capital is looking at … Continue reading →

Posted in Current, Dan Gilbert, Economy, Internet gambling, Isle of Capri, Macau, Massachusetts, Ohio, Regulation, Station Casinos, Wall Street | 1 Comment

Quote of the Day

Posted on May 28, 2013 by David McKee

“Why would [casinos] put a $1 billion investment when they are going to compete against restricted licensees across the street and in the neighborhood?” — Nevada Assembly Majority Leader William Horne (D), arguing that the continued operation of 80-odd sports-betting … Continue reading →

Posted in Current, Politics, Regulation, Sports, Technology | Comments Off on Quote of the Day

Bad news for Riv; Losing your gaming license? Come to Nevada!

Posted on May 21, 2013 by David McKee

A spiffy makeover and a nostalgia-themed market position aren’t helping the Riviera as customers gravitate back toward higher-priced hotels. A bad neighborhood, while hardly a new phenomenon, isn’t helping. Having Echelon and Fontainebleau as your neighbors is akin to living … Continue reading →

Posted in California, Current, Fontainebleau, Genting, Herbst Gaming, history, Marketing, Regulation, Riviera, Technology, Tourism, Tribal, Wall Street | Comments Off on Bad news for Riv; Losing your gaming license? Come to Nevada!

Clever Quinn; Rearranging the deck chairs; PE firms repulsed

Posted on May 21, 2013 by David McKee

Just when boosters of casino expansion in Illinois thought they had a done deal, Gov. Pat Quinn (D) sprung a carefully concealed snare: No pension reform, no dice. He dismissed Rep. Lou Lang‘s endless, insane casino crusade as a “shiny … Continue reading →

Posted in Current, Harrah's, Illinois, Indiana, Massachusetts, Politics, Regulation, Sheldon Adelson, Singapore, The Strip, Transportation, Tribal, Wall Street | 1 Comment

Big setback in Toronto; Wynn rebuffed; Cuomo’s winning streak

Posted on May 17, 2013 by David McKee

One of gaming’s biggest new markets went out with a whimper, not a bang, when colorful Toronto Mayor Rob Ford nixed a scheduled vote on whether to put a casino in the lakeside city, hoping to extract a $97 million … Continue reading →

Posted in Colorado, Current, Dan Gilbert, Detroit, Economy, Harrah's, Horseracing, International, Massachusetts, MGM Mirage, New York, Penn National, Politics, Racinos, Regulation, Steve Wynn, Taxes, Texas, Tribal | 1 Comment

Pennsylvania and Louisiana: It’s what it is

Posted on May 16, 2013 by David McKee

When last seen, Caesars Entertainment CEO Gary Loveman was telling his brethren that a stale property is an endangered property. To prove his point, he need look no farther than Philadelphia, where new kid on the block Valley Forge Casino … Continue reading →

Posted in Boyd Gaming, Current, Economy, Genting, Isle of Capri, Louisiana, New York, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Racinos, Regulation, Sheldon Adelson, Tropicana Entertainment | 1 Comment

Inside the Adelson verdict; Wackiness in Illinois

Posted on May 15, 2013 by David McKee

Early news reports held that yesterday’s $70 million judicial beat-down of Las Vegas Sands was unanimous. Not so, it turns out. At least one juror felt that Macao schmoozer Richard Suen had neither demonstrated the existence of a contract with … Continue reading →

Posted in Current, Economy, Illinois, Macau, Politics, Regulation, Sheldon Adelson, Slot routes, Station Casinos, Steve Wynn, Taxes | 2 Comments

Mashee Wamps make their pitch; Exit Dubai World?

Posted on May 15, 2013 by David McKee

Although the financial backing of Genting Group would — under normal circumstances — make the Mashpee Wampanoags prohibitive favorites for a casino in southeastern Massachusetts, these are anything but normal conditions. The tribe still doesn’t have a compact with the … Continue reading →

Posted in Current, Dubai, Genting, Massachusetts, MGM Mirage, Regulation, Tribal | Comments Off on Mashee Wamps make their pitch; Exit Dubai World?

Big vote in Beantown?; Penn National short-sheets Maryland

Posted on May 14, 2013 by David McKee

That’s what it could come to in Boston, if mayoral candidate — and current Suffolk County D.A. — Daniel Conley gets his wish. Rather than simply letting East Boston vote up or down on Caesars Entertainment‘s proposed conversion of Suffolk … Continue reading →

Posted in Architecture, Current, Election, Harrah's, Internet gambling, Maryland, Massachusetts, MGM Mirage, Penn National, Politics, Racinos, Regulation, Station Casinos | 2 Comments

Equivocal anniversary for Ohio; In Massachusetts, progress for MGM and Wynn

Posted on May 13, 2013 by David McKee

So, as Ohio marks the first full year of casino play, is the glass half-full or half-empty. Currently, much is being made of Horseshoe Cleveland having brought in less than half of greatly over-ambitious expectations (and 12% less than what … Continue reading →

Posted in Architecture, Current, Dan Gilbert, Dining, Economy, Entertainment, Harrah's, Massachusetts, MGM Mirage, Ohio, Penn National, Politics, Racinos, Regulation, Steve Wynn, Taxes, Tourism | 3 Comments

So long, Sahara and WMS; Bridge of sighs; Private equity’s newest gamble

Posted on May 10, 2013 by David McKee

Gone and soon to be forgotten is the fugly NASCAR Cafe (site of terrible customer service), one of Bill Bennett‘s dubious ‘enhancements’ to the Sahara during his ownership. Current owner Sam Nazarian is ripping the Sahara apart in earnest, although … Continue reading →

Posted in Architecture, Current, Dan Gilbert, Dining, Harrah's, history, Ohio, Regulation, Sahara, Sam Nazarian, Scientific Games, Sports, The Strip, Wall Street, WMS Industries | 1 Comment

PokerStars: Sell … or else!

Posted on May 8, 2013 by David McKee

What do you do if you’ve got a purchase agreement with Colony Capital and the latter allegedly reneges on you? If you’re Rational Group, which thought it had a $15 million deal in place to purchase the Atlantic Club Hotel, … Continue reading →

Posted in Atlantic City, Carl Icahn, Colony Capital, Current, Donald Trump, Internet gambling, Regulation, Tilman Fertitta | 1 Comment

Steve Wynn turns into Debbie Downer; Caesars’ screwy priorities

Posted on May 2, 2013 by David McKee

Yes, the recovery in Las Vegas could be said to be a chastened and limping one. The national press will leap at just about anything to restart the “Vegas is back” narrative. And yes, CityCenter ROI improved exponentially … to … Continue reading →

Posted in CityCenter, Current, Economy, Election, Harrah's, Horseracing, Macau, Massachusetts, MGM Mirage, Racinos, Regulation, Sheldon Adelson, Steve Wynn, The Strip | 6 Comments

Revel: Christie catches a break; Illinois remains suicidal; Online poker debuts in Nevada

Posted on May 2, 2013 by David McKee

New Jersey Gov. Chris Christie (R) is one lucky fellow. Bankrupt Revel threatened to become an albatross around his neck, thanks to a $261 million tax break that Christie helped push through Trenton. Last week, it turned out that Revel … Continue reading →

Posted in Ameristar, Atlantic City, Current, Illinois, International, Internet gambling, Missouri, Penn National, Pinnacle Entertainment, Politics, Regulation, Revel, Station Casinos, Taxes, Technology | 1 Comment