Category Archives: Reno

New York: It’s getting crowded; Gold at sea

Posted on April 7, 2014 by David McKee

Add another casino project to the hotly contested Southern Tier. Former (unsuccessful) Reno casino operators Ally and Amin Visram have unveiled Binghamton Casino, which from the outside looks more like a monastery than a casino. Hey, anything’s better than a big … Continue reading →

Posted in Florida, New York, Racinos, Reno | Comments Off

Boyd under siege? Tight (slots) on the East Coast

Posted on March 11, 2014 by David McKee

Yesterday, Elliott Management announced that it owns 5% of Boyd Gaming. Shares of the company, which had closed just under $12, opened at $14. But is this a vote of confidence in Boyd? According to Seeking Alpha, “Elliott has a … Continue reading →

Posted in Atlantic City, Boyd Gaming, Columbia Sussex, Florida, Internet gambling, Lake Tahoe, Laughlin, Neil Bluhm, New York, Pennsylvania, Pinnacle Entertainment, Regulation, Reno, Technology, Tourism, Tropicana Entertainment, Wall Street, West Virginia | Comments Off

Building better mousetraps

Posted on March 6, 2014 by David McKee

Were I Steve Wynn, I would be feeling somewhat discouraged by my prospects in Massachusetts. Just look at what happened to Cordish Gaming. Its Leominster slot-parlor proposal got high marks, but was ultimately passed over because Penn National Gaming‘s rival … Continue reading →

Posted in Atlantic City, Cordish Co., Entertainment, Horseracing, Marketing, Massachusetts, Mohegan Sun, Penn National, Reno, Steve Wynn, Technology, Transportation, Warner Gaming | Comments Off

Casinos behaving badly

Posted on February 14, 2014 by David McKee

Reno‘s Peppermill Casino is going to be $1 million lighter in the wallet, after it ‘fessed up to spying on other casinos’ proprietary data. Peppermill analyst Ryan Tors was caught at the Grand Sierra using a tool known as a … Continue reading →

Posted in Atlantic City, Dan Gilbert, Harrah's, Ohio, Regulation, Reno, Revel, Technology | Comments Off

Buoyancy in Vegas, contentment at Wynn

Posted on January 31, 2014 by David McKee

Despite somewhat less money being dropped on the Las Vegas Strip, revenue was up 13% last December, closing out a strong 4Q13. Statewide, revenue was up 10%, slightly over a billion dollars. Tighter slot hold on the Strip helped fuel … Continue reading →

Posted in Atlantic City, Boulder Strip, Boyd Gaming, Downtown, Economy, Lake Tahoe, Laughlin, Macau, Massachusetts, Mohegan Sun, Racinos, Reno, Steve Wynn, Taxes, The Strip, Tribal, Wall Street | Comments Off

Nevada 2013: Less bad than before

Posted on January 13, 2014 by David McKee

For a third straight year, Nevada gaming revenues rose. OK, the amount was microscopic ($99 million) overall, but it was something. However, higher expenses — including all-important capex investments –pushed the Silver State into the red. The casino industry reported … Continue reading →

Posted in Economy, Environment, New York, Racinos, Reno, The Strip, Tourism | Comments Off

Nevada finishing year strong; Christie’s choler

Posted on December 31, 2013 by David McKee

With a little help from one extra weekend day, Nevada gross gaming revenues shot upward 12% statewide in November and 23% on the Strip. Baccarat players lost their shirts, with the house winning 94% more than the previous year. Less … Continue reading →

Posted in Atlantic City, Boulder Strip, Cordish Co., Current, Downtown, Economy, Harrah's, Laughlin, Maryland, Massachusetts, MGM Mirage, North Las Vegas, Penn National, Regulation, Reno, Steve Wynn, The Strip, Tilman Fertitta, Trump Entertainment Resorts | 2 Comments

Optimism in Boston; Sands is #1

Posted on December 26, 2013 by David McKee

What are the chances that Suffolk Downs could become the most profitable casino in the Western Hemisphere? Not good, you’d think, but Mohegan Tribal Gaming Authority is willing to bet on it. If annual revenue reaches $1 billion, then Revere … Continue reading →

Posted in Bally Technologies, Churchill Hill, Massachusetts, MGM Mirage, Mohegan Sun, New York, Reno, Sheldon Adelson, Steve Wynn, Taxes, Wall Street | Comments Off

MGM Springfield keeps its fingers crossed

Posted on November 7, 2013 by David McKee

And then there was one … MGM Springfield. But you won’t hear MGM Resorts International execs popping champagne corks or seeing them do victory laps. The Massachusetts Gaming Commission has already warned that it’s not required to issue a license. … Continue reading →

Posted in Dan Gilbert, Horseracing, Macau, Massachusetts, MGM Mirage, Mohegan Sun, Neil Bluhm, Racinos, Regulation, Reno, Stanley Ho, Uncategorized | Comments Off

Falling upward in Nevada; MGM: The Lion meows

Posted on October 31, 2013 by David McKee

Helped by a wee bit of late-August slot revenue, Nevada posted a 7% revenue gain this month, for a $959 haul. The Strip performed spectacularly, up 13%, and Downtown edged 2% higher. Lake Tahoe vaulted 23% but Reno fell off … Continue reading →

Posted in Boulder Strip, CityCenter, Current, Downtown, Lake Tahoe, Laughlin, Macau, Mesquite, MGM Mirage, North Las Vegas, Reno, Sheldon Adelson, The Strip, Tourism, Transportation, Wall Street | Comments Off

Case Bets: New York, Wynn, Packer, Atlantic City & Reno

Posted on October 30, 2013 by David McKee

In a positive omen for Tuesday’s casino vote in New York, shares of Castkills-based Empire Resorts (NYNY) leapt 29%, closing at $5.30/share. The company hopes to bring casino gambling to the Concord Hotel, although jostling for the probable two Catskills … Continue reading →

Posted in Atlantic City, California, Current, Genting, Harrah's, Illinois, International, James Packer, Melco Crown Entertainment, New York, Reno, Slot routes, Station Casinos, Steve Wynn, Tribal | 4 Comments

Isle gets some love; Second chance in New York

Posted on October 28, 2013 by David McKee

“A great pick.” That’s what Seeking Alpha says about Isle of Capri Casinos. Like so many regional operators, it hasn’t been posting lights-out numbers lately but its 16-casino portfolio makes it a bargain play for some. “It’s hard not to … Continue reading →

Posted in Election, history, Isle of Capri, Missouri, New York, Pennsylvania, Reno, Tribal, Wall Street | Comments Off

End of an era; Boyd needs to do better

Posted on October 11, 2013 by David McKee

Family owned casinos continue to become a thing of the past. Latest casualty: John Ascuaga’s Nugget, an icon of the Reno-Sparks market. The Ascuagas are giving way to out-of-state owner Husky Finance and operator Global Gaming & Hospitality, whose principals include the … Continue reading →

Posted in Boyd Gaming, Cretins, Current, Economy, Reno | Comments Off

August: Hot on the Strip

Posted on September 30, 2013 by David McKee

Boy, did the house win big last August. Las Vegas Strip gambling revenues were up 20%, driven by exceptionally lucky baccarat play (win up 55.5%), in a month when 1.5% less was wagered on the game. (A modest increase in … Continue reading →

Posted in Boulder Strip, Current, Downtown, Lake Tahoe, Laughlin, North Las Vegas, Reno, The Strip | Comments Off

“Ugly” month on the Strip

Posted on August 30, 2013 by David McKee

That’s the word that normally temperate J.P. Morgan analyst Joseph Greff employedd to describe a July in with Las Vegas Strip winnings fell 14% (as opposed to 8% statewide; others had a different perspective). And since the month began and … Continue reading →

Posted in Current, Downtown, Economy, Lake Tahoe, Laughlin, North Las Vegas, Reno, The Strip | 1 Comment

Troubling trend in Mississippi; Caesars pleads poverty

Posted on August 22, 2013 by David McKee

Evidence of casino saturation in the U.S. (and economic malaise) continues to mount. Following a 6% dropoff in Mississippi casino revenues for July, the Biloxi Sun-Herald‘s Mary Perez was moved to examine a larger trend. Here’s what she found in … Continue reading →

Posted in Current, Economy, Harrah's, Louisiana, Mississippi, Reno | 1 Comment

What’s new in Sparks?; Tomato King strikes again; Bluhm’s bad luck

Posted on August 2, 2013 by David McKee

Arising from the grave of the Silver Club, the brand-new Bourbon Square Casino was finished just in the nick of time for yesterday’s opening. Owner Nevada Casino Holdings has done well, delivering a “new” casino for just $5 million. It … Continue reading →

Posted in Boulder Strip, Columbia Sussex, Current, Don Barden, Laughlin, Massachusetts, Neil Bluhm, Penn National, Pennsylvania, Reno, Station Casinos, Steve Wynn, Tomato King Procacci | Comments Off

LV in June: The house lost big-time

Posted on August 2, 2013 by David McKee

Despite only a minor dip in visitation, Las Vegas casinos got hammered in June. Players kept their wallets shut and the cards weren’t turning in the house’s favor. The amount of money played on the Las Vegas Strip was off … Continue reading →

Posted in Boyd Gaming, Current, Downtown, Economy, Lake Tahoe, Laughlin, North Las Vegas, Reno, The Strip, Tourism, Wall Street | 2 Comments

Weidner returns; Casinos win tax fight

Posted on May 22, 2013 by David McKee

Y’all remember Baha Mar, that multi-billion-dollar project in the Bahamas that then-Harrah’s Entertainment exited during its IPO? At the time, Harrah’s insisted that there was no connection, but Baha Mar was one of several initiatives — including Margaritaville in Biloxi … Continue reading →

Posted in Boyd Gaming, Environment, Harrah's, International, Macau, Mississippi, Oklahoma, Politics, Reno, Sheldon Adelson, Taxes | 1 Comment

Nevada: The recovery continues; Elsewhere: Not so much

Posted on May 10, 2013 by David McKee

After a boffo February, the Silver State also posted extraordinary numbers in March. As Deutsche Bank headlined its report, “Different Month, Same Tune.” Analyst Carlo Santarelli cautioned, “we believe the underlying trends are not as strong as the headline would … Continue reading →

Posted in Ameristar, Atlantic City, Boulder Strip, Boyd Gaming, Colony Capital, Current, Dan Lee, Donald Trump, Downtown, Economy, Harrah's, Illinois, Iowa, Isle of Capri, Kansas, Lake Tahoe, Laughlin, Marketing, Missouri, North Las Vegas, Penn National, Pinnacle Entertainment, Reno, Revel, The Strip, Tourism, Wall Street | 2 Comments