Category Archives: Sheldon Adelson

Penn gets frostbite; Virginia passes up gambling

Posted on February 6, 2014 by David McKee

Caught between harsh weather and a tighter competitive squeeze, Penn National Gaming posted 4Q13 revenues that were 13% down from last year. The $645 million loss drew a surprisingly muted reaction from gaming analysts. The company is already drastically reducing … Continue reading →

Posted in California, Louisiana, Macau, Missouri, Ohio, Penn National, Politics, Problem gambling, Racinos, Sheldon Adelson, Stanley Ho, Steve Wynn, Taxes, Wall Street | Comments Off on Penn gets frostbite; Virginia passes up gambling

Sheldon Adelson vs. the world

Posted on February 5, 2014 by David McKee

A fissure has opened within Big Gaming. Sheldon Adelson‘s efforts to push anti-Internet-casino legislation will be officially opposed by an industry lobby that includes MGM Resorts International. Both MGM and the American Gaming Association are constituents of the Coalition for Consumer … Continue reading →

Posted in Economy, Election, Florida, Genting, Internet gambling, MGM Mirage, Politics, Sheldon Adelson, Tribal | Comments Off on Sheldon Adelson vs. the world

Quote of the Day

Posted on February 4, 2014 by David McKee

““We’re talking about something that would turn back the clock on states like New Jersey. I’m stunned that this is a position that any attorney general would take. It essentially endorses a federal power grab to come in and tell … Continue reading →

Posted in Atlantic City, Internet gambling, Regulation, Sheldon Adelson | Comments Off on Quote of the Day

The hypocrisy of Steve Wynn

Posted on February 3, 2014 by David McKee

Like a couple of crotchety codgers sitting in their rocking chairs, Steve Wynn has joined Sheldon Adelson in the “You kids get off my lawn” club when it comes to Internet gambling. (Not that he has allowed this to stop … Continue reading →

Posted in Atlantic City, Delaware, Economy, International, Internet gambling, Massachusetts, Pennsylvania, Racinos, Regulation, Revel, Sheldon Adelson, Steve Wynn, Taxes | Comments Off on The hypocrisy of Steve Wynn

Super Bowl hits Vegas jackpot; Hope for Caesars overseas

Posted on February 3, 2014 by David McKee

“It was embarrassing, humiliating and unbearable,” but when the Super Bowl was over, Nevada sports books had cleaned up … except for that safety on the first play from scrimmage, costly for the Denver Broncos and the books alike. Heavy … Continue reading →

Posted in Aristocrat, Atlantic City, Bally Technologies, Boyd Gaming, Harrah's, International, LVCVA, MGM Mirage, Revel, Sheldon Adelson, Sports, Steve Wynn, The Strip, Tourism | Comments Off on Super Bowl hits Vegas jackpot; Hope for Caesars overseas

Bounty at Sands, Caesars

Posted on January 30, 2014 by David McKee

Yesterday wasn’t a bad day to be Las Vegas Sands, which reported a 19% increase in net revenues. Sands Cotai Central (up 61%) led the parade, which also prominently showcased Venetian Macao (+36%) and Venelazzo (up 25%, driven by a … Continue reading →

Posted in Culinary Union, Current, Harrah's, Macau, Maryland, Sheldon Adelson, Singapore, The Strip, Wall Street | Comments Off on Bounty at Sands, Caesars

No fun in Florida; Playing it safe in Illinois; Big flush at Borgata

Posted on January 27, 2014 by David McKee

Gov. Rick Scott (R, left) doesn’t want any gambling-expansion talk cluttering up his reelection bid, spoiling the fun for the rest of us. So no racinos, Naples or Palm Beach, no new gambling offerings, Seminole Tribes, and no destination resorts, … Continue reading →

Posted in Atlantic City, Election, Florida, Genting, Hard Rock International, Illinois, Politics, Racinos, Regulation, Sheldon Adelson | Comments Off on No fun in Florida; Playing it safe in Illinois; Big flush at Borgata

Just when …

Posted on January 20, 2014 by David McKee

You thought Atlantic City had taken its lumps for January, but here comes an additional indignity. Borgata was forced to cancel part of its Winter Poker Open in mid-tourney. Casino surveillance detected the insinuation of fake chips into the tournament’s … Continue reading →

Posted in Atlantic City, Bally Technologies, Macau, MGM Mirage, Sheldon Adelson, Steve Wynn, Technology, Wall Street | Comments Off on Just when …

Winter of discontent

Posted on January 17, 2014 by David McKee

It’s been a grim December for regional casino markets. Even Pennsylvania, once a bastion of strength, ended 2013 with a slight year/year decline. In Connecticut, a 15% revenue decline was reported at Foxwoods Resort Casino, with handle off 21%. Mohegan … Continue reading →

Posted in Boyd Gaming, Economy, Foxwoods, Harrah's, Louisiana, Marketing, Mohegan Sun, Penn National, Pennsylvania, Pinnacle Entertainment, Politics, Sheldon Adelson, Sports, Taxes, The Mob, The Strip, Tourism | Comments Off on Winter of discontent

Viva Macao; Battling for dollars in Maine

Posted on January 14, 2014 by David McKee

Hard as it may be to believe, Macao is on track to gross $77 million in 2017. That leaves Las Vegas hopelessly in the dust as a gambling destination, especially with non-gaming amenities taking up a bigger share of the … Continue reading →

Posted in Churchill Downs, Economy, Entertainment, Macau, Maine, Melco Crown Entertainment, MGM Mirage, Penn National, Sheldon Adelson, Steve Wynn, The Strip | Comments Off on Viva Macao; Battling for dollars in Maine

Florida: Death by a thousand cuts; New player in Macao

Posted on January 10, 2014 by David McKee

Casino expansion in Florida may be nominally on the table for the incoming Lege but it looks D.O.A. Both Senate President Don Gaetz (R) and possibly Speaker of the House Will Weatherford (R) want preferatory constitutional amendments that would require … Continue reading →

Posted in Atlantic City, Florida, Genting, Harrah's, Kansas, Macau, Penn National, Politics, Sheldon Adelson, Stanley Ho, Tropicana Entertainment | Comments Off on Florida: Death by a thousand cuts; New player in Macao

Toxic overconfidence at Wynn; Persistence in Kentucky

Posted on January 8, 2014 by David McKee

Whoops. It seems like Wynn Resorts was a little coy (or careless) about how it intended to clean up a toxic-waste site  (home to “volatile organic compounds, petroleum hydrocarbons, PCBs, and evidence of sulfuric acids and other substances“) in Everett. Bostonians … Continue reading →

Posted in Boyd Gaming, Environment, Internet gambling, Kansas, Kentucky, Massachusetts, Politics, Sheldon Adelson, Steve Wynn, Taxes | 2 Comments

Freeman vs. the Evil Empire

Posted on January 7, 2014 by David McKee

Sheldon Adelson. That’s who American Gaming Association President Geoff Freeman is preparing to take on, as the AGA beefs up its lobbying staff. It’s a bipartisan group that includes 2012 Obama campaign guru Jim Messina. Freeman demurs that it isn’t … Continue reading →

Posted in Cantor Gaming, Internet gambling, Marketing, Penn National, Politics, Racinos, Regulation, Sheldon Adelson, West Virginia | 1 Comment

Wynn’s new man in Macao; Sheldon’s losing hand

Posted on January 7, 2014 by David McKee

Steve Wynn will continue to be CEO and Chairman of Wynn Macau. However, he’s handing off the presidency to Gamal Aziz. It’s another sign that Macao isn’t just a department of a company like Wynn Resorts but an entity unto … Continue reading →

Posted in Atlantic City, Foxwoods, Harrah's, Internet gambling, Macau, Massachusetts, Mohegan Sun, Sheldon Adelson, Steve Wynn, Wall Street | 1 Comment

Taiwan in 2019?

Posted on January 3, 2014 by David McKee

It could happen. Enabling legislation to put casinos on Taiwan‘s outer islands has a good chance in parliament, it is reported. Matsu is expected to be the principal beneficiary but, if it can change voters’ minds, Claremont Partners has a … Continue reading →

Posted in Harrah's, International, Macau, New York, Politics, Sheldon Adelson, The Strip, Tribal | Comments Off on Taiwan in 2019?

Macao rules

Posted on January 2, 2014 by David McKee

Today’s big story is pretty obvious: The 19% year-over-year revenue growth of Macao, which posted $45 billion in gross gaming dollars. (2012’s increase was similarly dramatic.) Analysts offer a somewhat cloudy picture for next year. No, there will be no … Continue reading →

Posted in Economy, Macau, Melco Crown Entertainment, MGM Mirage, Sheldon Adelson, Steve Wynn, Wall Street | Comments Off on Macao rules

Quote of the Day

Posted on January 2, 2014 by David McKee

“This is our Joe Camel moment … It could very well be the demise of our industry” — Las Vegas Sands Vice President of Government Affairs Andrew Abboud wringing his hands in opposition to Internet gambling at a recent congressional … Continue reading →

Posted in Internet gambling, Politics, Sheldon Adelson | Comments Off on Quote of the Day

Case Bets: Britney, Bally, Sheldon & O’Shea’s

Posted on December 27, 2013 by David McKee

Tonight’s a big night for Planet Hollywood, as it debuts its new, Britney Spears headliner show. However, judging from public disinterest in Spears’ recent TV special, Caesars Entertainment may be drawing to a weak hand. “Bally Technologies Inc. received some … Continue reading →

Posted in Bally Technologies, Entertainment, Harrah's, Regulation, Sheldon Adelson, The Strip | Comments Off on Case Bets: Britney, Bally, Sheldon & O’Shea’s

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 on Optimism in Boston; Sands is #1

Adelson undeterred; Winners and losers

Posted on December 23, 2013 by David McKee

I’m not sure which part of this story is more alarming: That Affinity Gaming was the victim of a widespread identity-theft scheme for seven months … or that the company didn’t disclose it until late this year. It certainly makes … Continue reading →

Posted in Affinity Gaming, Atlantic City, California, Dan Gilbert, Detroit, Environment, Florida, Harrah's, Horseracing, International, Internet gambling, Japan, Macau, New York, Ohio, Penn National, Problem gambling, Sheldon Adelson, Singapore, Stanley Ho | Comments Off on Adelson undeterred; Winners and losers