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Category Archives: Regulation
Case Bets: Global Cash’s Access, Cosmo, Riviera, Oscar, Oregon & Banditry
Excessive Access? The casino industry gets closer and closer to the day when it simply hooks up a suction hose to your bank vault. While Global Cash Access doesn’t want to interface bank cards with slot machines — it would … Continue reading
Posted in Colorado, Cosmopolitan, Current, Election, Environment, Harrah's, International, Marketing, New York, Oscar Goodman, Problem gambling, Regulation, Riviera, Technology, The Mob, The Strip, Tourism, Tribal, TV
8 Comments
Last Resorts? Colony wins one
It still looks like Resorts Atlantic City is the casino most likely to close in that market, on pace to lose nearly $22 million this year. That’s the monumental challenge facing prospective new owner Dennis Gomes. In unadjusted dollars, the … Continue reading
Mothers of invention; Fernwood 2night
“Stacked” casino floors are a rarity in Las Vegas, usually necessitated by a limited footprint. That’s certainly the case with the Cosmopolitan, jimmied into a narrow slot just north of CityCenter (and often mistaken for part of that complex). However, … Continue reading
Strip rates bottom out
There was good news for hoteliers on the Las Vegas Strip today. Room rates for the second quarter and the first half of the third quarter average out to a 0% increase/decline from last year, following a -4% comparison in … Continue reading
Posted in Economy, Harrah's, MGM Mirage, Regulation, Reno, Sheldon Adelson, Steve Wynn, The Strip, Tourism, Wall Street
2 Comments
Crazy from the heat?
As the August sun beats upon our brains like a hammer on an anvil, it seems to be rendering us soft in the noggin. Reader kerr_mudgeon has aggregated a few instances, the pages of the Los Angeles Times, which seems … Continue reading
Posted in Atlantic City, Colony Capital, Cordish Co., Current, LVCVA, Marketing, Regulation, Tourism, Transportation
5 Comments
Readers are genius
A big shout-out goes to the S&G subscriber who has the best solution yet for reviving interest in Atlantic City: “Just put the cast of Jersey Shore on view in glass cages on the Boardwalk (like the Snake Guy on … Continue reading
Posted in Atlantic City, California, CityCenter, Current, Economy, Election, Entertainment, Marketing, Missouri, Pinnacle Entertainment, Regulation, The Strip, Tourism, TV
5 Comments
Caesars Cincinnati? Invaders repulsed at Gettysburg (again)
Here at S&G, we think the Caesars brand is more than worthy of the Queen City. Others don’t share our enthusiasm. Using the Horseshoe hoofprint doesn’t make sense, given that Harrah’s Entertainment rather expensively deployed that just downriver in Evansville. … Continue reading
Posted in Harrah's, history, Illinois, International, Kansas, Lyle Berman, Missouri, Ohio, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Regulation, Tribal
6 Comments
The Summer of Love(man)
It may be hard to believe in retrospect, but at the time of Harrah’s Entertainment‘s LBO, some analysts thought it would be partly amortized by selling off the company’s regional properties. That prompted me to write something to the effect … Continue reading
Posted in Atlantic City, Australia, Current, Detroit, Dining, Economy, Entertainment, Harrah's, history, Horseracing, Kansas, Marketing, Ohio, Racinos, Regulation, Station Casinos, Taxes, Tourism, Tribal, Wall Street
2 Comments
Ameristar up for grabs
Having been in “stay the course” mode ever since the death of company founder Craig H. Neilsen, locals giant Ameristar Casinos is putting itself on the block. According to the New York Post, the company has hired an investment bank … Continue reading
An inspector calls
“You’re the hub right now, kid.” Thus spake a Los Angeles-based private investigator who’s hot on the trail of some possible malfeasance in the real estate world. It involves a couple of characters who were persons of interest in a … Continue reading
Posted in Donald Trump, MGM Mirage, Regulation, Sahara, The Mob, The Strip
2 Comments
Atlantic City: It could be worse
Considering that table games were up and running in Delaware and gradually rolling out in Pennsylvania, it comes as a pleasant surprise to see that Atlantic City was only down 5% in July. Frankly, I was expecting much worse, especially … Continue reading
Posted in Atlantic City, Boyd Gaming, Carl Icahn, Colony Capital, Columbia Sussex, Current, Donald Trump, Economy, Entertainment, Harrah's, Horseracing, Macau, Marketing, MGM Mirage, New York, Pansy Ho, Pennsylvania, Politics, Racinos, Regulation, Technology, Tourism, Tropicana Entertainment, Wall Street
4 Comments
Case Bets: New Jersey; A lucky guy; Genting’s good fortune
Garden State Gov. Chris Christie (R-N.J.) may have excluded sports betting as a new revenue source for the state’s besieged casino industry. As expected, state Sen. Raymond Lesniak (D, left) tuned the governor out and continues to pursue legalization of … Continue reading
Posted in Atlantic City, Boyd Gaming, Colony Capital, Cordish Co., Current, Donald Trump, Downtown, Economy, Genting, Harrah's, International, Macau, New York, Politics, Racinos, Regulation, Singapore, Sports, Tamares Group, Tourism
1 Comment
Rising Sun; At Harry’s mercy
It’s not news that Japan has been mulling casino gambling for the umpteenth time. What is news is that the Diet — or rather, the General Assembly of International Sightseeing Industry Development Diet Member Association — has gotten very serious … Continue reading
Gone baby, gone
“[T]he confidence that property prices and stock markets would permanently defy gravity” is a phrase that perfectly encapsulates how the casino industry got itself into its present pickle. In what other mindset could an industry convince itself that it could … Continue reading
Posted in Archon Corp., Atlantic City, Boyd Gaming, Cannery Casino Resorts, CityCenter, Colony Capital, Cosmopolitan, Current, Dining, Economy, Encore, Entertainment, Environment, Fontainebleau, Harrah's, history, Marketing, MGM Mirage, Regulation, Station Casinos, Steve Wynn, Taxes, The Strip, Tourism, Wall Street
4 Comments
The Tamares shuffle
Musical chairs continue at Tamares Group‘s downtown Las Vegas collection of crumbling casinos. Bobby Ray Harris is out as casino manager and Anthony F. Santo is in. Otherwise, it was the same old song and dance. $20 million worth of … Continue reading
Business is booming … overseas
At some point, Peking may decide that Macao is overheated but for the moment it’s simply red-hot. Revenues vaulted 70% last month, to the tune of $2 billion U.S. dollars (or $25,435,856,924 Zimbabwean), the second-best number in Macanese history. Wynn … Continue reading
Fertittas win: Boyd calls it quits
Boyd Gaming threw in the towel today, ending its pursuit of two-thirds of Station Casinos‘ assets. This makes it virtually a shoo-in that sock-puppet bidder Fertitta Gaming will prevail at the upcoming bankruptcy auction. The latter, a front for Station … Continue reading
Barbour’s futile tilt?
It’s not just Mississippi Gov. Haley Barbour who opposes a planned Choctaw Indian casino in upstate Laurel (birthplace of soprano Leontyne Price). Several other Bayou State bigwigs have expressed displeasure. Now the governor’s taking the Choctaws to court, although it’s … Continue reading
Posted in Current, Election, Florida, history, Mississippi, Regulation, Tribal
7 Comments
Adelson fires Sands China CEO; Kenny Guinn, 1936-2010
It’s getting rather slippery on the tiled floors of Venelazzo and its Macao offshoots, what will the frequent bloodbaths that are becoming a hallmark of Sheldon Adelson‘s reign as creator and CEO of Las Vegas Sands. The victim sent over … Continue reading
Chris Christie, rock star
New Jersey‘s outspoken governor lays down some righteous grooves at Meadowlands, including telling the horsey set what it needs to hear: “I don’t have the money to be subsidizing failure.” Gov. Chris Christie on New Jersey horseracing: this industry has … Continue reading