Category Archives: Scientific Games

The woes of Scientific Games

Posted on November 10, 2015 by David McKee

Having devoured seemingly half the manufacturing sector, Scientific Games is having some digestion problems. J.P. Morgan analyst Joseph Greff came off the 3Q15 conference call and promptly halved his price target for the stock “given SGMS’s high operating and financial … Continue reading →

Posted in Scientific Games, Wall Street | Comments Off

Harrah’s auction scrapped; Airport casino nixed

Posted on October 28, 2015 by David McKee

Almost nobody wants the defunct remnants of Harrah’s Tunica Casino. Owner Caesars Entertainment has scratched a planned auction of the property because nobody except stalking horse TJM Properties has shown an interest in the building. TJM specializes in senior-living facilities. … Continue reading →

Posted in Florida, Foxwoods, Harrah's, Marketing, Mississippi, Mohegan Sun, Politics, Scientific Games, Seminole Tribe, Taxes, Tribal | Comments Off

Mad slot skillz; Tribes at war with one another

Posted on October 12, 2015 by David McKee

Skill-based slot games are a long way from deployment but that didn’t discourage The Motley Fool‘s Jeff Hwang from scouting the Global Gaming Expo show floor in search of entertaining product. The games he saw the greatest potential in were … Continue reading →

Posted in California, Economy, G2E, IGT, Internet gambling, MGM Mirage, Pennsylvania, Scientific Games, Technology, Tribal | Comments Off

Dan Lee’s Colorado lode; The Caranos take Reno

Posted on October 5, 2015 by David McKee

Since overthrowing the leadership of Full House Resorts, new CEO Dan Lee has been chock-full of initiatives. His latest is to drop $30 million to acquire Bronco Billy’s Casino & Hotel, in Cripple Creek, Colorado. The move comes as Colorado … Continue reading →

Posted in Atlantic City, Colorado, Dan Lee, Delaware, Dining, Eldorado Resorts, Full House Resorts, International, Internet gambling, Marketing, MGM Mirage, PokerStars, Reno, Scientific Games | Comments Off

Crime and plentitude at G2E

Posted on September 30, 2015 by David McKee

Internet gambling having been temporarily moved to a back burner, thanks to Sheldon Adelson, the American Gaming Association has turned its attention at Global Gaming Expo to organized crime, which continues to be a shadowy partner to gambling, at least … Continue reading →

Posted in Atlantic City, Boyd Gaming, G2E, Genting, Geoff Freeman, Internet gambling, Macau, Maine, Massachusetts, MGM Mirage, Mohegan Sun, Neil Bluhm, Penn National, Scientific Games, Sheldon Adelson, Technology, The Mob, The Strip, Tribal, Wall Street | Comments Off

Caesars on the brink; MGM gives Massachusetts a surprise

Posted on September 24, 2015 by David McKee

For want of $2 billion from Caesars Entertainment Operating Co., creditors are withholding their support for the reorganization scheme CEOC intended to present in bankruptcy court. A last-minute solution seems unlikely, if only because junior bondholders like Appaloosa Management and Tennenbaum Capital … Continue reading →

Posted in Architecture, Derek Stevens, Downtown, Harrah's, Massachusetts, MGM Mirage, Neil Bluhm, Ohio, Penn National, Regulation, Scientific Games, Tribal, Wall Street | 1 Comment

Quote of the Day

Posted on September 1, 2015 by David McKee

“We believe replacement activity will continue to plod along at trough levels and we see a more muted expansion pipeline in the US.” — Deutsche Bank analyst Carlo Santarelli, in the course of upgrading Scientific Games from “sell” to “hold.”

Posted in Economy, Scientific Games, Wall Street | Comments Off

Macao: “Less bad”; MGM beats estimates

Posted on August 4, 2015 by David McKee

That’s how J.P. Morgan analyst Joseph Greff spun the latest numbers out of Macao, where gaming revenues plunged 34%, less than the year-to-date average of 37%. Mass table game winnings were up 11% from June, “more positive than we otherwise … Continue reading →

Posted in Atlantic City, Detroit, Economy, Illinois, Macau, Mississippi, Scientific Games, The Strip, Wall Street | 1 Comment

Shocker in Massachusetts; Successes and setbacks for Penn

Posted on July 27, 2015 by David McKee

In a stunning reversal of fortune, KG Urban Enterprises has ditched its $650 million New Bedford casino project, citing financial difficulties. This ends seven years of grinding effort to gain civic acceptance, which culminated in a landslide electoral victory earlier … Continue reading →

Posted in Election, Environment, Florida, Foxwoods, GLPI, Illinois, Internet gambling, Maine, Massachusetts, Neil Bluhm, Ohio, Penn National, Pennsylvania, Racinos, Regulation, Scientific Games, Steve Wynn, Taxes, Tribal, Wall Street | Comments Off

Mixed news from Atlantic City; More silliness from Trump

Posted on June 17, 2015 by David McKee

Atlantic City continued its paradoxical ways last month. The market as a whole suffered another big decline, down 10%. However, for individual operators, May was mostly good, with a same-store gain of 4%. (To see the blended impact of Internet … Continue reading →

Posted in Architecture, Atlantic City, Boyd Gaming, Donald Trump, Harrah's, International, Internet gambling, Mohegan Sun, Scientific Games, Technology, Tilman Fertitta, Tribal, Tropicana Entertainment, Trump Entertainment Resorts, TV, Wall Street | 1 Comment

Phua case collapses; Bwin wooed ardently

Posted on May 27, 2015 by David McKee

Well, that’s it. With the exclusion of evidence gathered from all three Caesars Palace VIP villas used by Paul Phua, the federal government’s case against the poker pro collapses ignominiously. U.S. District Judge Andrew Gordon had already tossed all the … Continue reading →

Posted in Bally Technologies, Harrah's, International, Internet gambling, Massachusetts, Penn National, Problem gambling, Racinos, Regulation, Scientific Games, Shuffle Master, Sports, Uncategorized, WMS Industries | Comments Off

Why is this man smiling?; Adelson’s latest antics

Posted on May 8, 2015 by David McKee

Bankruptcy’s been good to Caesars Entertainment. For CEO Gary Loveman‘s final earnings call prior to yielding his title to Mark Frissora, the company gift-wrapped him a $7.6 billion profit on net revenue of $1 billion. If that sounds surrealistic, it’s due to … Continue reading →

Posted in Atlantic City, Harrah's, Internet gambling, Maryland, Penn National, Pennsylvania, Politics, Regulation, Scientific Games, Sheldon Adelson, Steve Wynn, The Strip, Wall Street, West Virginia | Comments Off

Adelson lackey denounces gambling; Scientific’s stumble

Posted on March 16, 2015 by David McKee

In a surprising display of petulance, Rep. Jason Chaffetz (R) hung up the phone on members of the National Governors Association when they had the temerity to object to his Restoration of America’s Wire Act bill, which would criminalize state … Continue reading →

Posted in Florida, Marketing, New York, Politics, Regulation, Scientific Games, Sheldon Adelson, The Strip | Comments Off

Honeymoon over in Atlantic City; Resistance in Connecticut

Posted on March 13, 2015 by David McKee

All the gains Atlantic City casinos had been making from the downsizing of the market came to an abrupt end last month. Gambling revenues dove 16% and same-store revenues fell 2% (yes, even the Borgata‘s). Luck simply was not on … Continue reading →

Posted in Atlantic City, Bally Technologies, Boyd Gaming, Foxwoods, Harrah's, Mohegan Sun, Politics, Riviera, Scientific Games, Shuffle Master, The Strip, Tilman Fertitta, Tropicana Entertainment, Trump Entertainment Resorts, Wall Street, WMS Industries | 1 Comment

Bigamy in New York; Bluster in New Jersey

Posted on February 24, 2015 by David McKee

Empire Resorts‘ Montreign Resort Casino project has two things in common with Rivers Casino & Resort and Lago Resort & Casino (well, three if you count the fact that none has been built yet). All were chosen from among 16 … Continue reading →

Posted in Atlantic City, Bally Technologies, Cordish Co., Genting, Harrah's, Neil Bluhm, New York, Penn National, Racinos, Regulation, Scientific Games, Technology | 1 Comment

Golden, Scientific on the move

Posted on January 26, 2015 by David McKee

Golden Gaming continues to absorb its competitors. Its latest acquisition is Lakes Entertainment, one of the most venerable names in Midwestern gambling. Golden will pay a 37% premium to purchase Lakes at $9.57 a share. While 64% of shareholders will … Continue reading →

Posted in Bally Technologies, Golden Gaming, Horseracing, IGT, Kentucky, Maryland, Ohio, Scientific Games, Slot routes, Technology, Wall Street, WMS Industries | Comments Off

Feeling squeezed in Delaware, Indiana

Posted on October 31, 2014 by David McKee

No two ways about it, Delaware‘s racinos are failing. However, they have an ambitious plan to reverse that … providing the state is cooperative. One of the reasons the tracks are struggling is an onerous 40% tax rate on table … Continue reading →

Posted in Bally Technologies, Delaware, Economy, Maryland, Ohio, Politics, Racinos, Scientific Games, Technology, Tribal | Comments Off

Packer’s complaint; Bally bloodbath

Posted on October 16, 2014 by David McKee

James Packer‘s run of bad luck has crossed the Pacific Ocean and infected his Australian casinos. Faced with soft numbers at Crown Resorts, he blamed players, exclaiming, “The punters are killing us!” Packer was also put on the defensive by … Continue reading →

Posted in Architecture, Bally Technologies, Economy, International, James Packer, Sam Nazarian, Scientific Games, The Strip, Wall Street, Westgate LV | Comments Off

Cycle of futility; Hard luck in Indian Country

Posted on September 15, 2014 by David McKee

As the casino industry braces itself for Global Gaming Expo, this could hardly be a worse moment to be hawking slot machines. Not only is it undergoing a painful contraction but new markets (like Boston and Washington, D.C.) are a … Continue reading →

Posted in Atlantic City, Bally Technologies, California, Economy, G2E, Harrah's, IGT, Maryland, Massachusetts, Mississippi, Revel, Scientific Games, Station Casinos, Tribal, Trump Entertainment Resorts | Comments Off

Case Bets

Posted on August 21, 2014 by David McKee

Any fears of antitrust litigation in the Scientific Games/Bally Technologies merger were put to rest yesterday when the two companies announced they had cleared the Hart-Scott-Rodino Antitrust Improvements Act waiting period ahead of schedule. This is hardly equal to leaping the … Continue reading →

Posted in Bally Technologies, Genting, Harrah's, Japan, Macau, Melco Crown Entertainment, Ohio, Regulation, Riviera, Scientific Games, Sheldon Adelson, Singapore, TV | Comments Off