Category Archives: Sheldon Adelson

Sands shakes off doldrums; MGM sitting pretty

Posted on April 23, 2020 by David McKee

Las Vegas Sands posted a Covid-19 impacted 1Q20. Room rates nudged upward year/year from $263 to $266, at 87% occupancy, resulting in a decline in revenue per available room from $249 to $199. Sands was modestly down at the tables, … Continue reading →

Posted in Atlantic City, Baseball, CityCenter, Economy, Health, Japan, Las Vegas Sands, Macau, Maryland, Massachusetts, MGM Resorts International, Ohio, Pennsylvania, Real Estate, Sheldon Adelson, Singapore, Sports, Sports betting, The Strip, Tourism, Wall Street | 2 Comments

Hiccup in Virginia; Sheldon’s retail therapy

Posted on April 21, 2020 by David McKee

Just when it seemed like casinos in Virginia were a done deal, some last-minute tinkering by Gov. Ralph “Blackface” Northam (D) could scupper the whole deal. Northam unilaterally amended the enabling legislation to redirect two-thirds of the tax collections from … Continue reading →

Posted in Boyd Gaming, Cretins, Economy, FanDuel, Hard Rock International, International, Internet gambling, Las Vegas Sands, Macau, Mohegan Sun, Pennsylvania, PokerStars, Politics, Racinos, Regulation, Rush Street Gaming, Sheldon Adelson, Singapore, Sports betting, Taxes, Tourism, Transportation, Tribal, Virgin Hotels, Virginia, Wall Street | Comments Off on Hiccup in Virginia; Sheldon’s retail therapy

Midwest: Casinos, interrupted

Posted on April 14, 2020 by David McKee

For some arcane reason, Illinois has not reported casino revenue for March. But we have a couple of neighboring states’ data and can conclude with reasonable certainty that it tracks with the Land of Lincoln. After a March 17 closure … Continue reading →

Posted in Boyd Gaming, Caesars Entertainment, DraftKings, Economy, Elaine Wynn, Eldorado Resorts, Galaxy Entertainment, Internet gambling, Iowa, Macau, Missouri, Movies, Oregon, Pansy Ho, Penn National, Sheldon Adelson, Sports betting, Steve Wynn, Technology | 1 Comment

Quote of the Day

Posted on April 6, 2020 by David McKee

“To my fellow corporate executives who are looking at spreadsheets and trying to determine the impact this crisis will have on sales and share prices, let me say our job as business leaders is now as simple as it is … Continue reading →

Posted in Economy, Health, Sheldon Adelson, Wall Street | 2 Comments

Maryland craters; Penn takes Trop loss

Posted on April 3, 2020 by David McKee

Free State Gov. Larry Hogan (R) having closed casinos on March 16, revenue results were predictably dire, down 58%. That’s a measly $69 million gross. MGM National Harbor booked $26 million, a 58.5% slide, with slots down 62% and tables … Continue reading →

Posted in Caesars Entertainment, Churchill Downs, Cordish Co., Detroit, Donald Trump, Economy, Eldorado Resorts, GLPI, Golden Gaming, Health, Las Vegas Sands, Law enforcement, Maryland, Massachusetts, MGM Resorts International, Penn National, Politics, Real Estate, Sheldon Adelson, Sports betting, The Strip, Wall Street, West Virginia, Wynn Resorts | 3 Comments

Boyd opens its wallet, stringency at Scientific, improvidence at MGM

Posted on March 31, 2020 by David McKee

Boyd Gaming, which had previously been reported to be giving two weeks pay (misreported as one week by the Las Vegas Review-Journal) to employees idled in Las Vegas by the one-month casino shutdown, has gotten “george” and extended the hardship pay … Continue reading →

Posted in Arizona, Boyd Gaming, Caesars Entertainment, China, Churchill Downs, Economy, Health, Illinois, Japan, Jim Murren, Kentucky, Las Vegas Sands, Macau, MGM Resorts International, Neil Bluhm, Nevada, New York, Oklahoma, Scientific Games, Sheldon Adelson, Tribal, Wall Street, Wynn Resorts | 2 Comments

Poverty in the suites; Industry ramps up bailout pressure

Posted on March 23, 2020 by David McKee

Sheldon Adelson is worth $28 billion today. Which doesn’t sound so bad until you consider that he was worth $40 billion before the Wall Street crash. That’s the literal price of owning 432,000,000 shares of Las Vegas Sands. Not that … Continue reading →

Posted in AGA, Caesars Entertainment, California, Carl Icahn, Charity, China, Donald Trump, Economy, Elaine Wynn, FanDuel, GLPI, Health, history, Horseracing, Illinois, Internet gambling, Las Vegas Sands, Macau, Melco Resorts & Entertainment, MGM Resorts International, Movies, New York, Phil Ruffin, Sheldon Adelson, Sports betting, Station Casinos, The Mob, Tribal, Unite-Here, Wall Street, Wynn Resorts | Comments Off on Poverty in the suites; Industry ramps up bailout pressure

Where do we go from here?

Posted on March 19, 2020 by David McKee

In the process of canceling its 2020 earnings guidance, Marriott International gave some oblique insight into how the casino industry is likely to cope with the Coronavirus quarantine. Occupancy, it said, had fallen to 25%, compared to 70% last year. … Continue reading →

Posted in AGA, Alabama, Baseball, Boyd Gaming, Caesars Entertainment, Carl Icahn, Charity, Economy, Health, Illinois, Indiana, International, Internet gambling, Iowa, Las Vegas Sands, Macau, Melco Resorts & Entertainment, MGM Resorts International, Movies, Oregon, Penn National, Real Estate, Regulation, Sahara, Sheldon Adelson, Slot routes, South Korea, Sports, Sports betting, The Strip, Tribal, Wall Street, Wynn Resorts | 1 Comment

Life after casinos; Sheldon is george

Posted on March 19, 2020 by David McKee

“The situation continues to evolve and will escalate rapidly and dramatically. These are unprecedented actions in an extraordinary situation, but they could be the difference in saving lives and keeping people safe.” So said Maryland Gov. Larry Hogan (R) on Sunday, … Continue reading →

Posted in Atlantic City, Boyd Gaming, Caesars Entertainment, California, China, Cordish Co., e-sports, Economy, Entertainment, Foxwoods, Health, Horseracing, Internet gambling, Las Vegas Sands, Maryland, Massachusetts, MGM Resorts International, Mississippi, Mohegan Sun, Nevada, Oklahoma, Pennsylvania, Politics, Rush Street Gaming, Sheldon Adelson, Sports, Sports betting, The Strip, Tourism, Tribal, TV, Wisconsin | 1 Comment

Las Vegas slides toward crisis as market tanks

Posted on March 12, 2020 by David McKee

Coronavirus having been officially been declared a pandemic by the World Health Organization, it was only a matter of time before the impact hit Las Vegas. Not much time, either. Late yesterday, the National Association of Broadcasters pulled the plug … Continue reading →

Posted in AGA, Boyd Gaming, Caesars Entertainment, California, Conventions, DFS, Donald Trump, Economy, Eldorado Resorts, Health, International, Las Vegas Sands, Melco Resorts & Entertainment, MGM Resorts International, New York, Sheldon Adelson, South Korea, Sports, Sports betting, Station Casinos, Taxes, The Strip, Tourism, Twin River, Wall Street, Wynn Resorts | 3 Comments

Bennett returns, Aguilera leaves, Adelsons idolized

Posted on March 2, 2020 by David McKee

The Las Vegas Strip will be blessed for three nights in August, as Tony Bennett returns to The Venetian. He’ll play the 12th, 14th and 15th, with an assist from Antonia Bennett. Tickets start at $50, with a portion of … Continue reading →

Posted in Aristocrat, Boyd Gaming, CityCenter, Entertainment, Florida, Health, history, IGT, Indiana, Las Vegas Sands, Louisiana, Macau, Maine, Marijuana, MGM Resorts International, Oregon, Planet Hollywood, Problem gambling, Scientific Games, Scott Butera, Sheldon Adelson, Shuffle Master, Singapore, Sports, Sports betting, Technology, The Strip, Tribal, Wisconsin | 1 Comment

Life’s good if you’re Boyd; Caesars fire sale threatened

Posted on February 21, 2020 by David McKee

Boyd Gaming‘s share price got a bump from JP Morgan analyst Joseph Greff, who wrote “We continue to believe BYD is well positioned in both U.S. regional gaming markets as well as the LV Locals market.” Since Boyd is ahead … Continue reading →

Posted in Ameristar, Boyd Gaming, Caesars Entertainment, Churchill Downs, Conventions, Downtown, Eldorado Resorts, Election, GLPI, Las Vegas Sands, Louisiana, Penn National, Sheldon Adelson, Taxes, The Strip, Tilman Fertitta, Wall Street | 1 Comment

Saturation hits Connecticut; Culinary waffles on Sanders

Posted on February 21, 2020 by David McKee

So much for Tribal Winds, the satellite casino that was going to counteract MGM Springfield. Its backers are cutting the proposed $300 million investment by one-third. On the plus side, this could be read as a way of saying the … Continue reading →

Posted in China, Colorado, Connecticut, Culinary Union, Donald Trump, DraftKings, Economy, Election, Environment, Foxwoods, Harry Reid, Health, history, Macau, Massachusetts, MGM Resorts International, Mohegan Sun, Pennsylvania, Politics, Sheldon Adelson, Sports, Sports betting, Steve Wynn, Technology | Comments Off on Saturation hits Connecticut; Culinary waffles on Sanders

Crime pays; Dream-ing big

Posted on February 19, 2020 by David McKee

Donald Trump granted executive clemency to four convicted criminals, three of whom had—surprise!—casino connections. Steve Wynn‘s money man Michael Milken benefited from the support not of the tainted Wynn but of Sheldon Adelson. (Mirage Resorts was financed with junk bonds, … Continue reading →

Posted in Alaska, Architecture, Caesars Entertainment, Dining, Downtown, Health, International, Las Vegas Raiders, Law enforcement, Lotteries, Louisiana, Macau, Massachusetts, North Las Vegas, Oklahoma, Reno, Sheldon Adelson, Sports betting, Steve Wynn, The Strip, Transportation, Tribal, Virgin Hotels | 1 Comment

Culinary defeats itself; Red scare in a blue state

Posted on February 17, 2020 by David McKee

By failing to coalesce behind a rival candidate, the Culinary Union may have gift-wrapped Nevada for Sen. Bernie Sanders [I]. According to the Boston Globe, which noted lingering tensions between Sanders and the Culinary, a recent poll “found Sanders the … Continue reading →

Posted in China, Culinary Union, Election, Harry Reid, Marijuana, MGM Resorts International, Nevada, Politics, Sheldon Adelson, Technology, Wall Street | Comments Off on Culinary defeats itself; Red scare in a blue state

Macao: Worse than expected; New deal on Connecticut table

Posted on February 4, 2020 by David McKee

When China gets coronavirus, Macao develops pneumonia. While Wall Street was expecting gaming revenues to dip 2% in January, they fell 11%. Macanese casinos still grossed $2.75 billion, so it’s not like they were hearing crickets. However, February is shaping … Continue reading →

Posted in Atlantic City, Caesars Entertainment, China, Connecticut, Derek Stevens, Downtown, Economy, Eldorado Resorts, Foxwoods, Health, IGT, Illinois, Japan, Las Vegas Sands, Louisiana, Macau, MGM Resorts International, Mohegan Sun, New Jersey, Pennsylvania, Politics, Regulation, Sheldon Adelson, Sports betting, Tourism, West Virginia | Comments Off on Macao: Worse than expected; New deal on Connecticut table

Packer’s pickle; Sands, MGM, Wynn lauded

Posted on January 28, 2020 by David McKee

Crown Resorts, under investigation in New South Wales, evidently decided it could no longer afford to half-ass it without a CEO (a position that had gone unfilled for three years) and elevated CFO Ken Barton to the job. Congratulations … … Continue reading →

Posted in Indiana, James Packer, Japan, Las Vegas Sands, Law enforcement, Macau, Mandalay Bay Massacre, Melco Resorts & Entertainment, MGM Resorts International, Sexual misconduct, Sheldon Adelson, Stanley Ho, Wynn Resorts | Comments Off on Packer’s pickle; Sands, MGM, Wynn lauded

Mohegan Sun in, Hard Rock out; Hoosiers crave sports betting

Posted on January 16, 2020 by David McKee

In a shocking upset, “a source close to the matter” reports that Hard Rock International has been turned down for the Hellenikon megaresort development in Greece. That means the winning bidder is Mohegan Sun. Hard Rock was apparently faulted both … Continue reading →

Posted in Architecture, Caesars Entertainment, Economy, Eldorado Resorts, Hard Rock International, Indiana, International, Iowa, Lake Tahoe, Louisiana, Macau, Mohegan Sun, Pansy Ho, Reno, Sheldon Adelson, Sports betting, Transportation, Wall Street | 2 Comments

Sports betting back on in Florida; Genting tipped for Japan

Posted on January 7, 2020 by David McKee

Although Florida voters thought they were cutting the Lege out of gambling legalization, lawmakers may have found a way to weasel their way back in, at least as concerns sports betting. The Sunshine State’s constitution now forbids the Lege from … Continue reading →

Posted in AGA, China, FanDuel, Florida, Galaxy Entertainment, Genting, Japan, Law enforcement, Melco Resorts & Entertainment, MGM Resorts International, Missouri, Movies, New Jersey, New York, Politics, Regulation, Seminole Tribe, Sheldon Adelson, Singapore, Slot routes, Sports, Sports betting, Taxes, Texas, The Strip, Transportation | Comments Off on Sports betting back on in Florida; Genting tipped for Japan

Maryland maxed out; Adelson’s $40 million lesson

Posted on January 7, 2020 by David McKee

Casino revenues in the Free State continue to be flat. Maryland gambling houses grossed $149 million last month. MGM National Harbor‘s $62.5 million—a 4.5% gain—led the state. Slots were down 2% at MGM but table win up 12%, a development … Continue reading →

Posted in Caesars Entertainment, Churchill Downs, Cordish Co., Downtown, Environment, Golden Gaming, Harry Reid, Las Vegas Sands, Law enforcement, Maryland, MGM Resorts International, Penn National, Sheldon Adelson, Technology, Terry Caudill | Comments Off on Maryland maxed out; Adelson’s $40 million lesson